ERIC Number: ED154452
Record Type: RIE
Publication Date: 1978-Apr
Not Whether You Win or Lose-It's How You Play the Game Theory.
Weinberg, Sanford B.
The development of game theory was a response to a need to understand human decision making processes in situations of incomplete or imperfect information. By reducing decision making situations to probability game systems, it is possible to analyze and test various competitive strategies that maximize wins and minimize losses. Although game theory assumes rational situations faced by rational individuals, it is possible to apply it to situations in which available strategies are not used through application of the Augustinian interpretation which states that nonrational lack of information of a team is simply an additional variable adding to the positive score of the opponent. It can also be applied to situations in which all available strategies are not known, through applying the subjective rationality concept which assumes behavior is rational given the perceptual and evaluational premises of the subject. Therefore, in spite of sharp criticism of its limitations, game theory remains a strong tool in field situations for the analysis, if not the prediction, of decision making processes. (MAI)
Publication Type: Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Note: Paper presented at the Annual Meeting of the International Communication Association (Chicago, Illinois, April 25-29, 1978)