3. The Power of "Mixed Strategies" (The Element of Surprise)
A company offering a 10-year warranty is signaling high product quality. A low-quality competitor couldn't afford to do that, making the signal credible and outsmarting the competition's marketing. The Bottom Line Out-think! : how to use game theory to outsmart...
This blog post explores how to use game theory to gain a competitive edge in various scenarios. Out-Think: Using Game Theory to Outsmart Anyone The Bottom Line This blog post explores how
Do you have a —like a job interview or a business rivalry—where you want to apply these game theory tactics? Change the game by offering a loyalty program
If every coffee shop on the block is lowering prices to compete (a race to the bottom), don't join them. Change the game by offering a loyalty program or a unique atmosphere. You’ve shifted from a "Price Game" to a "Value Game."
A "Zero-Sum" game is one where my gain is exactly equal to your loss (like Poker). Most of life, however, is .
In games like Rock-Paper-Scissors or Tennis, if you always do the same thing, you become predictable. Predictability is the death of strategy.