The Great Game Theory Guide: Lesson # 2 — Wants versus Needs

Photo By Lilia Harrison

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Before we begin it may be of value for you to get an introduction to, and a simple explanation of the basics of game theory.

Below is an article (a-6 minutes read) as well as a more in-depth video to help you ease into the concept.

Both the article and video were created so they would be understood by a 12-year-old.

The Article:

https://lewiscoaches.medium.com/the-best-introduction-to-game-theory-simple-and-easy-to-understand-written-for-a-12-year-old-633d3a5c46bc

The Video:

https://www.youtube.com/watch?v=8hRf87puZPY&t=147s

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Q. Lewis, what is the difference between wants versus needs, and how is the distinction important in creating a winning strategy?

A. The distinction between wants and needs is both subtle and complex. Much of this complexity has to do with the concept of precision and accuracy of the measurement.

Precision In Harrison’s (Holistic) Applied Game theory is important in the development of winning strategies, and the application of specific tactics. Without precision…