Friday, October 09, 2015
Decision Scientists Need Game Theory
Good short piece in DSC by William Vorhies, on the interaction of analytics and game theory. And more generally how decisions and risk can be linked to analytical methods. Is this important for data scientists? If you believe that analytics will be implemented somehow, yes, absolutely. Ultimately you are playing an iterated game with your competitors, the economy, your environment and even the flow of time. Often your process game model can be very simple, but it should always be considered.
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