Game Theory – Winning Strategies is the third video in my game theory series. This video looks at how game theory can be used to produce a winning strategy. Focus is placed on explaining the concept of intransitivity and how intransitivity can be used to players’ advantage to win games. Intransitive is the antonym of transitive. Transitive means that a logical sequence can be followed in order to determine ranking. For example, if A is greater than B and B is greater than C, therefore A must be greater than C. In very basic examples transitivity is nearly always true but in reality things can get a bit more complicated as the video explains.
The concept of intransitivity is explained using two simple games. These games are rolling intransitive dice and Penney’s game. The two games are then explained using real examples. Intransitive dice game is explained using market strategies relating to the marketing of television sets. Penney’s game is explained using football teams (American). Penney’s game and the example provided rely quite strongly on the concept of second mover advantage which is explained in my video ‘Game Theory – The Basics’, see link below.
A key emphasis of this video is that even if a product, a team, or a service is not superior in itself, it can become more successful by adopting various strategies. These strategies are only possible if there is information available regarding competing products and services.
The video can be watched at the link below:
Game Theory – The Basics is available at:
The Game Theory series is available at:
The official Spectrum Economics website can be accessed at: https://www.spectrumecons.com
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