Overview

Game theory is the study of how people behave in strategic situations. By “strategy” we mean a situation in which a person, when choosing among alternative courses of action, must consider how others might respond to the action he takes. Strategic thinking is crucial not only in checkers, chess, and tic-tac-toe but in many business decisions. — Greg Mankiw Game theory basically states that you should pick the strategy where the maximum advantage of your opponent is minimized.—Michael Karnjanaprakorn

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16 Mental Models for Founders and Leaders

Think of mental models as the operating systems (OS) that run in the background of your brain. They're always running - and you've put them together, either consciously or subconsciously, from your experiences and information. Mental models give you a perspective or a frame of mind with which to view the world.

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