Life is full of choices, all of which have payoffs and pitfalls. When you have a goal and make choices or decisions on how to achieve it, you are developing a strategy. Creating and executing a strategy is a highly cognitive process; your mind is looking at available options and evaluating the pros and cons of each.The way in which people go about developing strategies is a subject that many researchers have investigated. Game theory takes a look at how people behave during strategic situations … [Read more...]
