Kategorien entdecken

In der App öffnen In der App öffnen In der App öffnen
Das sind die Blinks zu

Beautiful Game Theory

How Soccer Can Help Economics

Von Ignacio Palacios-Huerta
13 Minuten
Audio-Version verfügbar
Beautiful Game Theory: How Soccer Can Help Economics von Ignacio Palacios-Huerta

Beautiful Game Theory (2014) shows us how applicable economics is to our daily lives by looking at the fascinating world of professional soccer. By examining compelling statistics and studies on shoot-outs, referee calls, and ticket sales, Beautiful Game Theory offers some interesting insights into the psychology of behavioral economics.

  • Soccer fans all over the world
  • Anyone who is interested in economics
  • Anyone who has ever felt like the referee was biased against his or her team

Ignacio Palacios-Huerta is Professor of Management, Economics and Strategy at the London School of Economics. In addition, he works for Athletic Club de Bilbao, one of Spain’s professional soccer clubs, as the Head of Talent Identification.

Kennst du schon Blinkist Premium?

Mit Blinkist Premium erhältst du Zugang zu dem Wichtigsten aus mehr als 3.000 Sachbuch-Bestsellern. Das Probeabo ist 100% kostenlos.

Premium kostenlos testen

Was ist Blinkist?

Blinkist ist eine App, die die großen Ideen der besten Sachbücher in einprägsame Kurztexte verpackt und erklärt. Die Inhalte der über 3.000 Titel starken Bibliothek reichen von Sachbuch-Klassikern, über populäre Ratgeber bis hin zu diskutierten Neuerscheinungen. Basierend auf wissenschaftlichen Erkenntnissen wird jeder Titel von speziell geschulten Autoren aufbereitet und dem Nutzer als Kurztext und Audiotitel zur Verfügung gestellt.

Discover
3.000+ top
nonfiction titles

Get unlimited access to the most important ideas in business, investing, marketing, psychology, politics, and more. Stay ahead of the curve with recommended reading lists curated by experts.

Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:

Beautiful Game Theory

How Soccer Can Help Economics

Von Ignacio Palacios-Huerta
  • Lesedauer: 13 Minuten
  • Verfügbar in Text & Audio
  • 8 Kernaussagen
Jetzt kostenloses Probeabo starten Jetzt lesen oder anhören
Beautiful Game Theory: How Soccer Can Help Economics von Ignacio Palacios-Huerta
Worum geht's

Beautiful Game Theory (2014) shows us how applicable economics is to our daily lives by looking at the fascinating world of professional soccer. By examining compelling statistics and studies on shoot-outs, referee calls, and ticket sales, Beautiful Game Theory offers some interesting insights into the psychology of behavioral economics.

Kernaussage 1 von 8

The minimax theorem explains and predicts how players act and what strategies they use.

To appreciate how soccer helps us understand economics, we first have to understand John Neumann’s minimax theorem. His game theory theorem concerns two-player zero-sum games, games in which the positive payoff for one player always means negative payoff for the other.

Minimax assumes that players choose strategies that aim to minimize their opponents’ maximum possible payoff – hence “minimax.” And since we’re talking about zero-sum games, this also means that each player also attempts to minimize his own maximum loss.

For example, in a game of Rock Paper Scissors, only one player can win, and the other will lose. Each player’s strategy is therefore to minimize the payoff (the win) for the other.

There are two such strategies: pure and mixed. Pure strategies are strategies whereby a player always chooses the same move (like playing Rock every time), whereas mixed strategies employ variations of Rock, Paper and Scissors.

An important hypothesis of minimax theory is that if it’s disadvantageous for the other player to know your choice in advance, then you will benefit from choosing random strategies.

For example, imagine that you are playing Rock Paper Scissors against a long-time friend. If you tend to play Paper most often, then your friend can easily exploit this by pursuing a pure strategy – that is, by always playing Scissors.

However, if one person plays pure and the other plays mixed, the mixed strategy will win two-thirds of the time. On the other hand, if both players play mixed strategies, then both will have equal chances to win.

Thus, if two players randomly play Rock, Paper or Scissors, they should each win 50 percent of the games.

Ideally, then, both players should mix moves, because every pure strategy would only have a 33 percent chance of winning.

Mit Premium freischalten Jetzt lesen oder anhören

Inhalt

Mit Premium freischalten Jetzt lesen oder anhören

Bringe mehr Wissen in deinen Alltag!

Sichere dir jetzt Zugang zu den Kernaussagen der besten Sachbücher – praktisch in Text & Audio in nur 15 Minuten pro Titel.
Created with Sketch.