Game theory is…..

According to wiki:

“Game theory is often described as a branch of applied mathematics and economics that studies situations where players choose different actions in an attempt to maximize their returns. The essential feature, however, is that it provides a formal modeling approach to social situations in which decision makers interact with other minds. Game theory extends the simpler optimization approach developed in neoclassical economics….”

In my own understanding, game theory is a relationship game. It could be applied to professional friendships, or in short, business relationships. In the process, the balance in both party must be preserved, where each one is secured of the benefits they are getting from the other, and vice versa. Each side’s needs must be satiated, and the relationship must be maintained to be mutual in order for the relationship to last. Any shortcoming of either side creates treason to the mutuality thus scars the trust, the sympathy, and soon, if not attended, could cut the string of commitment.

The key tool to preserve the balance of the relationship, although not a guarantee for a perfect match-up, is openness and trust. Openness begets trust, and trust begets openness. From there, the professional relationship becomes deeper, making way to personal friendships.

We are human beings – rational and social beings. We have the ability to reason, to feel, and are sensitive to what others may do especially when it concerns us. The theory of the game revolves there – our relationships with our subordinates, our bosses, our business mates…

One mistake, either intentionally or unintentionally done, when not addressed properly, may start a gap, a small gap at first, but that small gap will choke openness, which will then betray trust, however little, will betray it all. Trust is indivisible…

The next big question is – how to fix that imbalance? Easy. We can simply go back to the essential keys – openness, trust. Regain it. How? You can think again how it started and redo the applicable things you did during the first days of acquiantance. Yes, communication is inevitable. Bargaining is inevitable. Come up to a common point, where each party is happy. Come up with a win-win situation. Listen. Talk. Explain. Good communications is very important. And of course, extend your horizons. …

continuation…

Ops. Too shallow thought on there. Too biased. Seems taken from the idea of a three year old. Easily said really, and I forgot the complications of the matter… There, you can see someguy’s comment… follow the link for a more clearer, deeper theories.

… mistrust

… atleast have the advantage

… security first

…they are starting to ring in my ears.