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title: Strategy
---
# Strategy

The field of strategy is concerned
with the optimal solutions of problematic scenarios.

## Decision Theory

Decision theory concerns

* ~~internal problems~~
* ~~no competition~~
* ~~internal optimization~~

## Game Theory

Game theory concerns decisions
made in competition with other intelligent actors.

Predictions of competitor behavior in bids and market movements
are made with a game-theoretic lens.

### Dominant Strategy

A dominant strategy is one
that results in the better outcome.

### "Solved" Games

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### Auction Theory

Auction theory is a subset of game theory

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#### Reverse Auction

In a reverse auction,
bidders compete for the right to _sell_ a product or service.

#### Sealed-Bid Auction

Opposite of a conventional "open" auction,
in a sealed-bid auction,
bid prices are hidden from the bidders.

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