Playing for Susan

Manfred J. Holler () and Barbara Klose-Ullmann
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Manfred J. Holler: University of Hamburg
Barbara Klose-Ullmann: Center of Conflict Resolution

Chapter Chapter 1 in Scissors and Rock, 2020, pp 1-21 from Springer

Abstract: Abstract Thinking strategically is the focus of this chapter. The chapter includes references to Cesare Borgia, MachiavelliMachiavelli, Niccolò, Adam SmithSmith, Adam, NapoleonNapoleon, and Torstein Veblen. A Prisoners’ DilemmaPrisoners’ Dilemma situation and a Chicken GameChicken Game are discussed to illustrate the essence of a game—with respect to understanding the functioning of markets. The example of Microsoft’s Internet Explorer challenging Netscape’s Navigator, by now historical, serves to demonstrate that in a strategic decision situation an agent cannot choose an outcome, independent of what the other agents do—in fact, a player chooses a strategy and not an outcome. Managers have to know game theory if they want to apply it to outsmart the competitor in strategic decision situations. An excursion into the world of neuroscience and mirror neurons concludes the chapter. Mirror neurons are of interest to strategic thinking as they serve as a mechanism of imitation in our brain and as a source of empathyEmpathy.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-44823-3_1

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DOI: 10.1007/978-3-030-44823-3_1

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