Games We Play: Payoffs & Chaos Monkeys presented at SOURCEDublin 2013

by Allison Miller,

Summary : Game theory is a technique for modeling system behavior, given different potential scenarios and the decisions that can be made by participants. Whether you are on offense or defense, game theory could be a useful tool for deciphering the underlying system dynamics that help you predict what your competition is going to do, and likewise, the strategies you should adopt in order to win. In this session we’ll review how different scenarios can be interpreted and analyzed as games. We’ll then discuss how theories break-down in reality -- which is full of fuzzy payoffs and hidden motives -- and how theoretical frameworks provided by game theory can be tempered by more experimental approaches, borrowed from behavioral economics.