Beginner’s Guide to Game Theory
▻https://hackernoon.com/beginners-guide-to-game-theory-31e3e6adcec9?source=rss----3a8144eabfe3--
“Eventually, every game theory textbook will have a chapter on public blockchains.” — Naval.Game theory is one of the most important concepts to grasp to understand blockchains/crypto, strategy, and decision making.Game theory is the study of how and why people make decisions within a competitive situation, while keeping in mind what actions their competitors will take. You can think of it as the study of strategic decision making.But, game theory isn’t just about games. It’s used for any situation where two people have to make decisions with rewards and consequences. The ultimate goal is find whether a “best” strategy for a given game exists.Poker is a great example because the other players choices influences your strategy. For example, should you play tight while your opponent is playing (...)
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