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The Complete Idiot's Guide to Game Theory by Edward Rosenthal, Ph.D., Edward C. Rosenthal

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Transform Lose-Lose Outcomes to Win-Win

Full disclosure: I don’t believe in miracles. But I do believe that, sometimes, one game can be changed into another. Doing so is not alchemy or black magic. It is a matter of the players generating additional incentives—carrots or sticks—that serve to modify the payoffs in one or more of the outcomes. Adding conditions that make a particular outcome either more or less enticing can change the nature of the game and ultimately steer the players toward a mutually satisfying encounter.
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BET ON IT
“Win-win” is an expression that has gained popularity, showing that our society has begun to achieve some understanding ...

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