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@@ -14,48 +14,28 @@ title: Strategy
The field of strategy is concerned
with the optimal solutions of problematic scenarios.
## Decision Theory
## Domains
Decision theory concerns
### Decision Theory
* ~~internal problems~~
* ~~no competition~~
* ~~internal optimization~~
[[decision-theory|Decision theory]] concerns choices
made by a single party, based on environmental conditions
## Game Theory
"Player vs. Environment"
Game theory concerns decisions
### Game Theory
[[game-theory|Game theory]] concerns choices
made in competition with other intelligent actors.
Predictions of competitor behavior in bids and market movements
are made with a game-theoretic lens.
"Player vs. Player"
## Terminology
### Dominant Strategy
A dominant strategy is one
that results in the better outcome.
### "Solved" Games
### Strictly Dominant Strategy
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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.
[[uncertainty#Information]]
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