Game Theory and How To Deal With Incompetence In Your Business

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Early in my career as a game theory-based business consultant and executive coach I was introduced to a concept known as the Peter Principle.

 

What he means here is that employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another.

Peter and his co-authors intended the book to be satire, in time it became that Peter was really onto something serious.

Imagine an organization where a person reaches their level of incompetence and then trains new people in his/her department. Over time this pattern of incompetence spreads like a virus throughout the organization infecting middle management, lower-level employees, and possibly the executive suite. Of course, executives are focusing on the wrong area, the entire hierarchy may collapse below them, and they never saw it coming.

So as I said the Peter Principle states that a person who is competent at their job will earn promotion to a position that requires different skills. If the promoted person lacks the skills required for the new role, they will be incompetent at the new level, and will not be promoted again, unless their superior, is also incompetent, then they may be promoted again, and again.

This outcome is inevitable, given enough time and enough positions in the hierarchy to which competent employees may be promoted. The “Peter Principle” is therefore expressed as: “In a hierarchy, every employee tends to rise to his or her level of incompetence.” This leads to Peter’s Corollary: “In time, every post tends to be occupied by an employee who is incompetent to carry out its duties.”

Examples of the Peter Principle in action would include Sears, Enron, and the 2009 world financial collapse.

Final Thought

In a world of analytics, it is easy to measure for incompetence. Unfortunately, maybe the people who have designed these analytics are themselves incompetent. Over time the best companies will adjust and grow, while the ones who ignore this issue will simply collapse.

Author: Lewis Harrison is an Independent Scholar, corporate consultant, and executive coach. He has a passion for knowledge, personal development, self-improvement, applied game theory, entrepreneurism, and problem-solving.

Sign up to receive my free newsletter and check out my website at AskLewisGameTheory.com

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………………Lewis

The Great Grounding Game Theory Guide: — The 23 Best Movies for Strategy Thinkers

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(6 min read)

What Is Game Theory?

Game theory is the name used to describe logical and rational concepts (systems) that explain why and how individuals and organizations strategize — make choices and decisions when one or more individuals might also affect the outcome of the decision being made.

Game theory skills can be used to solve simple and very complex problems. Watching game theory-oriented films can give you the tips, tools, techniques, strategies, tactics, and hacks for winning at the game of life. If you have seen the movies The Big Short, Money Ball, and or A Beautiful Mind, you have seen game theory in action.

Here are these three and other films in a similar genre to help you to move forward in your life.

 

• A Beautiful Mind — A biographical film of the life of Nobel Prize-winning mathematician John Forbes Nash Jr. inspired by the book by Sylvia Nasar. Nash’s work and ideas are central to much of game theory. The film was acclaimed and won the best picture at the Academy Awards. It does take liberties with the facts of Nash’s life. It is the film that piqued my interest in game theory and game thinking

• Lincoln Lawyer — This is an American legal thriller film adapted from the novel of the same name by Michael Connelly,

• In the Name of the Father — Set in the “Troubles” in the North of Ireland, it illustrates the Prisoner’s Dilemma*.

• Rebel Without a Cause — Presents the “Chicken Game.*

• Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb — One of the best films representing The Hawk-Dove Game*. The director of the film, Stanley Kubrick, read an article by Noble Prize-winning Game Theorist Thomas Schelling that included a description of the Peter George novel Red Alert, and conversations between Kubrick, Schelling, and George eventually led to the 1964 movie. The film is one of the best cinematic illustrations of various concepts in Game Theory.

• Reservoir Dogs — One of the best films illustrating a Truel* meaning a duel or competition among three opponents, in which players can fire on or attempt to eliminate one another while surviving themselves.

• The Warriors — A film illustrating The Stag Hunt Game*.

• Waking Ned (Also known as Waking Ned Devine) — One of the best movies showing The Ultimatum Game*.

• Star Trek: The Wrath of Khan — Explores the Kobayashi Maru (a Lose-Lose Game*) used among Star Trek fans to describe a no-win scenario, a test of one’s character or a solution that involves redefining the problem and managing an impossible situation gracefully. This is one of the best films illustrating a Lose-Lose Game*.

• Donnie Darko — A bit more complicated than other films, this one integrates elements of a specific type of lose-lose situation called a Catch 22*. It also includes aspects of Quantum Game Theory*.

• Sophie’s Choice — This is a problematic situation, known as a Cornelian Dilemma* (CD), essentially a lose-lose game. This is a situation in which the player is forced to choose between two courses of action. Each is mutually exclusive and will cause a negative consequence on the player or someone close.

• The Dark Knight — One of the best films illustrating plot devices using classic game theory. The game-based plot devices included are the prisoner’s dilemma, the cornelian dilemma, and The Pirate Game*. The Pirate Game is a more sophisticated version of the Ultimatum Game*.

• The Usual Suspects — This entire film is a simple game structure piled high with layers of deceit, twists, cheating, cognitive biases if every variety, and violence before pulling out the rug from underneath when we learn that the payoff* wasn’t what we expected — A zero-sum, simultaneous, imperfect information game.

 Eye in the Sky: This 2015 military game theory thriller explores mixed strategies, decision-making, and the ethical challenges of drone warfare. A multinational team, works on the capture mission against terrorists in Nairobi. The group, which are linked together by video and voice systems, debate different strategies designed to achieve a goal while reducing collateral damage. As a decision finally realized some variable in the game space changes requiring new discussion on the best course of action and who needs to make the final decision on acting against the terrorists, knowing that no matter what, there will be some collateral damage.

• House of Games — A heistthriller film built around many different elements of game theory. It features mid games, gambling, and con men. One of the treats is that its cast includes Ricky Jay, one of the world’s greatest magicians.

•The Spanish Prisoner — This neo-noir suspense film. The film is premised around a story of corporate espionage conducted through an elaborate confidence game. In spite of the film’s title, the actual plot includes only superficial similarities to the Spanish Prisoner* scam though there is, nonetheless much gamer-thinking.

• The Game — An American mystery thriller about a wealthy investment banker who is given a mysterious gift-the chance to participate in a complex Life Game. As the lines between the banker’s real life and the game become more uncertain it all takes on a surreal quality.

• The Last Casino— Loosely based on the activities of the MIT Blackjack Team. Three students and a professor use a counting cards* technique to “beat” a Casino in Canada.

• The Imitation game –A somewhat inaccurate American historical drama based on the biography Alan Turing: The Enigma by Andrew Hodges (which was previously adapted as the stage play and BBC drama Breaking the Code). It explores the real-life British cryptanalyst Alan Turing, a gay man who was destroyed by the government he may have helped save.

To be specific, Turing de-crypted German intelligence codes for the British government during the Second World War and is considered by many to be the “father” of the modern computer.

• Crazy Rich Asians — In this game-theorybased comedy, an Asian-American economics professor must use game theory

to outwit, wealthy, adversarial zero-sum players to outwit outdated Chinese tradition, hierarchy, n competitiveness, to find romance, love, and happiness.

• Molly’s Game — Based on the real-life experiences of Molly Bloom, a former world-class skier who ran the most exclusive, high-end poker game in the world for over a decade. It is one of the purest applied game theory films ever made. Every flawed move here has significant consequences. The right to life plot includes; A-listers, Hollywood Stars, the Russian Mafia, the Jersey Mob, the IRS, the FBI, and that’s just for starters.

• Searching for Sugar Man — This 2012 documentary film of a South African cultural phenomenon. It details the efforts of two Cape Town fans in the late 1990s to find out whether the rumored death of American musician Sixto Rodriguez was true, and if not, to discover what had become of him. Rodriguez’s music, which had virtually no success in the United States, was more popular in South Africa than Elvis. Yet, little was known about him in that country.

• The Boxer — The plot is built around the ending of the troubles in Northern Ireland. It explores the dynamics of a win-lose game player who has chosen to become a win-win player. The challenge is that he must now contend with those still committed to a win-lose scenario, and violently so.

ooo

Author: Lewis Harrison is an Independent Scholar and a Results-Oriented Success Coach. He has a passion for knowledge, personal development, self-improvement, and problem-solving. He is the creator of Harrison’s Applied Game Theory.

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HAGT: The Secret System To Winning The Game Of Life

HAGT is an anagram for Harrison’s Applied Game Theory…

…To understand how HAGT works you need to understand how game theory works.

 

 

 

 

Among scientists, game theory is the name used to describe systematic concepts that were designed to explain why and how individuals and organizations strategize, i.e. make decisions when one person (or more than one other person) might also affect the outcome of the decision. This concept is so important that researchers in the field have won dozens of Nobel Prizes including the two awarded this year

Today, (2020) game theory has become an umbrella term or ‘unified field’ theory for thousands of games, most being rational approaches to many different defined interactions including relationships in business, spirituality, competition, sports, romance and even interactions with nonhuman players such as computers, animals, and plants.

#17

Another way of describing game theory is the observation of a set of ideas and numbers that describe the past, present, or future state of something particularly strategic interactions between two or more individuals or groups (players) in a situation containing set rules and outcomes. Gamer theory used in a number of disciplines and can be applied to make individual choices in everyday life. The theory has most notably used as a tool within the study of economics, particularly in politics, sports, and international affairs. The economic application of game theory can be a valuable tool to aid in the fundamental analysis of industries, sectors, and any strategic interaction between two or more firms or individuals who need to strategize to create maximum benefit at the lowest possible cost.

How is game theory connected to happiness? Happiness can mean different things to different people. What game theory, especially my approach, known as Harrison’s Applied Game Theory (HAGT) can do is, reduce the ways in which people suffer.

Suffering is disruptive and at times necessary mental, emotional, psychological, and also a spiritual experience of unpleasantness and aversion associated with harm or threat of harm. On the positive side, suffering can contribute to how you organize meaning in your emotional world and much more. One should never assume that all suffering is negative. The key is to understand which suffering is essential and which is a self-created illusion.

Some suffering is an expression of natural law — an essential tool for survival. For the unaware individual, it is often a negative experience, especially if this individual has made poor choices in the past.

#21

Compassion, one of the most worthy, and admired human qualities; often comes from recognizing the suffering of others. Their suffering may present great meaning and direction to your own life, motivating, and also inspiring you to serve others in need. This service, in turn, creates a larger sense of community.

What determines how intense your suffering is or will be? The origin and cause of suffering; its processes, the meaning it presents to the individual who seems to be suffering; it’s related social, personal, and cultural behaviors; the knowledge of how to manage, reduce, or eliminate the suffering; and the benefits one might accrue for having suffered will all influence the intensity of that suffering. Add to this the frequency of each occurrence, plus the concurrence of mental, emotional, psychological, and also spiritual factors involved. Now by combining these with the duration of the suffering, and you have a wide range of experiences related to suffering.

If you are to understand the meaning of your life it is essential that you explore how and why you suffer.

The Meaning of Life

All human suffering, whether necessary or self-created, is tied to obstacles that have meaning for us. Such an obstacle

may be associated with some physical or psychological discomfort, or spiritually speaking, from the “pain of longing” — the seeking of something deeper than the world of form. Who can say what it might be?

Transcending obstacles defines much of what goes on in life. Think about it. It is likely that you function day to day on “automatic pilot,” then suddenly you experience a usually unexpected obstacle. Now, this obstacle might be walking up the steps of a non-functioning escalator, or waiting in a long line at the post office. It may be something equally annoying like a sudden red light that causes you to hit the brakes on your car. These types of challenges are what get your attention.

When things, events, or people limit your freedom, these “obstacles” take on meaning. We are also often drawn to things of great beauty, sensuality, and elegance. These things also have meaning. So as you can see, to notice something, positive or negative is to give it meaning.

What does it mean for something to have meaning? This is an important question. Many great thinkers have proposed that all meaning is based on your perception as well as shifts in your perception.

Many of us go through life unconsciously. We each decide arbitrarily that some things are important while others are not. Something might have meaning now that did not have any meaning just a few moments ago.

 

Does ‘meaning’ have to have a particular quality or quantity to it? Will any sense of meaning do? How would you even know if something had more than a superficial meaning? What’s the link between meaning and significance in daily action? If something has meaning for you, does it have ‘meaning’ because it reinforces your sense of being — or is something deeper going on? Is meaning anything more than what grabs your attention?

Your answers to these questions about the “meaning of life” may have great implications for how you think, make choices, use language, and communicate with others in the process of daily living. Without this inquiry, you may be destined to a life of confusion or intellectual, emotional, and spiritual numbness.

What Harrison’s Applied Game Theory does is offer a person the ability to be more effective, efficient, precise, productive, and self-aware. It also gives creative and innovative thinkers the opportunity to create greater meaning in their life by making a measurable difference in the world.

So I did applied game theory become the center of my life?

 

In 2002 I saw the movie A Beautiful Mind about Nobel prize-winning mathematician John Nash. Nash was a pioneer in the development of Game Theory. This story is not about Nash or the movie. It is about the door that opened in my mind’s eye after seeing the film.

 

 

The subject of this particular story is actually not a human being, it is a concept – applied game theory.  Please note that I am not a mathematician and I am not an academic and  I am not a computer scientist. I’m just a regular person trying to make the best of my life as most of us are.

 

 

 

After seeing a Beautiful Mind it became obvious to me that everything in life, as is often said is a “game”.  That is a common cliché, winning the game of life, yet, what does that exactly mean?

 

For me, it means that except for a few things such as the hunger to learn of spiritual things, the nature of art, the exploration of truth, understanding philosophy, making sense of our emotions, and the experience of culture, everything in life really is a game.

 

In practical terms that means that in a world made up of people, places, and things there’s always a playing field, a board, or a game space of some type. The game might be a video game, your job, your family, or your friendships. You can’t have a game without a game space, whether a conceptual environment (a political party) or an actual playing field or board as in football, chess, or track and field.

 

 

All games will have players, and in applied game theory, there must be at least two players (sometimes the other player is a computer algorithm). If a game has many players and is highly competitive, there will usually also be cheaters.  Here, cheaters are players (often called “agents”) who know that they are not going to win the game playing by the rules.  These players intentionally break the rules knowing that they will be caught. It is a type of strategy.  They calculate that the benefits they will gain from cheating will be greater than the cost of any penalty they might receive for cheating.

 

If a person is to win at the game of life, they must have an endgame. An endgame here is what a person wishes to achieve at the end of a specific process (game). Is it wealth, a great marriage, a nice home, to become a philanthropist, to experience spiritual fulfillment? So what are the markings of a game?  Every game, in order to be a game, must have a game space, rules of engagement, players, referees, penalties for cheating,  and a definition of what winning means (the end-game).

 

Once a person realizes that life really is a game, specific changes will take place in their way of thinking.

 

By Martin Mark

 

To begin with, winning and knowing when you have won becomes essential in the process. To win, does not mean everyone else has to lose.  There are win-win games where all the players get to win.  However, when placed in situations where other people insist on playing a strategy where only they win and everybody else needs to lose, the skilled gamer not only knows how to outwit their adversary but can even convert their adversaries’ point of view so that everyone benefits.

Ultimately, when a person sees their life as part of a larger game they are likely to develop a greater interest and intention to be more effective, efficient, precise, productive, and self-aware (EEPPSA).

 

So each of us has a choice to make. Do we want to live our lives without much thought, simply surviving and maybe prospering if we get lucky? Or do we want to have an intention and look at each moment mindfully, recognizing that with game thinking at our base we can maximize our potential at the lowest possible cost?  With this line of thinking, we can also help others to win,  making the world a better place?

 

 

In this complex, multi-layered game, we call “life”, living through cognitive biases, logical fallacies, Fake News, and so-called “alternative facts” just won’t work.

 

The game of life

 

In order to survive and prosper, even the most simple and common person will need to understand some basic ideas. These are ideas that can be understood by a 9th Grader.  Even an individual who has played Tic-tac-toe, Rock-paper-scissors, checkers, chess, ping-pong, or any team sport can follow this line of thought to solve problems.

 

At the next level…

There are more sophisticated and advanced ideas which any high-school student would be familiar with that can be applied to solve problems and for “winning the game of life”.  Ideas that include Murphy’s Law, worst-case scenarios, deductive reasoning, inductive reasoning, critical thinking, pattern language, probabilities, etc. These are the types of ideas players often use in poker, sports betting, or in applying common sense to solve a problem. Those who can do this and do it well will prosper and survive better than those who don’t.

“the person who refuses to learn about applied game theory in the game of life will be eaten by those who do”.  

 

Why do I say this? Because often, in life, those who know gamer thinking may not always be ethical, moral, or even have your best interests at heart. It is important to be able to see trouble coming and have the ability, strategies, and tactics to address these challenges.

 

In Conclusion

The takeaway here is to recognize your life is a game, recognize you are a player in that game, and that all the people around you, whether they know it or not, are also players in that game. When you play, play to win. If you are a truly extraordinary player, a true visionary, play for everyone to win!

 

ooo

 

About the Author: Lewis Harrison teaches and Coaches individuals and organizations about using Applied Game Theory to become more efficient, effective, and productive. Contact him at Lewiscoaches@gmail.com

 

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Learn more about the powerful tool of applied game theory for self-improvement, personal development, and strategic life skills.

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The Best Game Theory Strategies for Worst-Case Scenarios

A worst-case scenario is a concept in risk management wherein a decision-maker, in planning for potential disasters, considers the most severe possible outcome that can reasonably be projected to occur in a given situation. In life, we are constantly placed in situations where we must make decisions, and some of these conditions may lead to worst-case scenarios.

How can we prevent this from happening? The solution to this dilemma is called Harrison’s Applied Game Theory (HAGT). HAGT is based on the multiple Nobel-Prizing ideas of game theory. In game theory, a person or group uses rational thinking to make a decision that will benefit them, or enable them to win”. This win happens irrespective of what other variables are in place, or what other people in the same scenario may do.

 

I created HAGT in 2003 because it was clear to me, as a magician, hypnotist, and stage mentalist, that most humans do not act rationally. Rather they present irrational ideas and biases to others in ways that make these ideas seem rational, though they are not rational at all.

A game theory strategist is also a futurist. They know not only short-term strategies but also the long game. To win, it is essential that they use effective, efficient, and precise, long game tactics. In order for us to achieve these same results, we need to see the consequences that will result from any particular applied strategy. If this is not done we might end up with negative unforeseen consequences, known in HAGT and as “perverse incentives”.

 

 

Let’s explore perverse incentives in greater detail and as it is understood through the lens of gamer thinking, and gamer psychology. Stated simply a perverse incentive is an incentive that has an unintended and undesirable result. In other words, the results are contrary to the intentions of the strategist or decision-maker. Here are a few examples of noted perverse incentives.

· In Hanoi, under French colonial rule, a program paying people a bounty for each rat tail handed in was intended to exterminate rats. Instead, it led to the farming of rats.

· Paying medical professionals and reimbursing insured patients for treatment but not prevention encourages medical conditions to be ignored until treatment is required. Also, paying only for treatment effectively discourages prevention (which would reduce the demand for future treatments and would also improve the quality of life for the patient). Payment for treatment also generates a perverse incentive for unnecessary treatments which could be harmful, for example in the form of side effects of drugs and surgery. These side effects themselves can then trigger the demand for further treatments.

 

 

· Though I am in favor of it, there is no doubt that The Endangered Species Act in the US imposes development restrictions on landowners who find endangered species on their property. While this policy is well-intentioned and has some positive effects for wildlife, it also encourages preemptive habitat destruction (draining swamps or cutting down trees that might host valuable species) by landowners who fear losing the use of their land because of the presence of an endangered species. In some cases, endangered species may even be deliberately killed to avoid discovery. Similarly, if the fine or other penalties for committing environmental damage is perceived as less burdensome than the cost of preventing the damage in the first place, an individual or company may not place safeguards in place and simply pay the penalty if the damage occurs.

So how can we transcend perverse incentives, or avoid getting snared in that unpleasant game?

There are a number of factors that can lead to these negative unintended consequences and worse-case scenarios.

1. Defective incentives — These are benefits that though well-intentioned do not serve that purpose.

2. Offering individual types of benefits that might cause them to intentionally reduce their performance. In such a scenario they might continue to receive those benefits even though they offer lower quality performance.

3. Unbalanced or distorted compensation metrics: This is a scenario where a flawed system of measuring the benefits offered to a person or group is not balanced against the revenue, profits, or other benefits the person or group receiving the incentive produces.

 

Often when we make a decision, we may need to expend a resource such as time, space, information, or money to complete the process successfully. The ability to replenish these resources generally reflects the wisdom of that decision. Many a game theory strategist has won many a battle but lost the war because of the loss of resources.

However, if a decision-maker focuses exclusively on resources two problems may arise:

1. Maintaining or increasing moderate resources while competing may cause a decision-maker to ineffectively focus on over-investment of time and energy in growing more resources. This can lead to a winning strategy that produces weak or deteriorating returns.

2. If a game theory strategist or decision-maker focuses on maintaining or enhancing already high levels of stored and accessible resources, they may be encouraged to hold back on taking strategic action out of fear that doing so may dilute those resources.

 

 

This resource problem happened often in the record industry in the 1950 -1980s. A small company might suddenly have an unexpected hit record and yet went out of business. This perverse incentive occurred because the record company did not have the money to produce the record for sale to the millions of buyers who wanted it.

Obviously, incentives, even those based on metrics, and probability statistics have potential downsides that can undermine success.

Experts on perverse incentives tend to recommend that any skilled game theory strategist needs to focus on the long rather than the short game. This is because a skilled strategist can manage each metric. They also can choose which metrics to leverage. This of course will be done at the expense of the rest. This takes place when it becomes obvious that some metrics will be productive and others will not.  If you enjoyed this article I thank you for any…

Author: My name is Lewis Harrison. I am a practical philosopher and independent scholar in the area of gamer psychology, personal improvement, and problem-solving.

 

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Intuition, the “Secret Sauce” for Expanding Innovative Thinking

 

By Martin Mark

 

 

In my five decades of exploration into innovative thinking, I have found that negative self-talk may be the greatest obstacle to success. It can dull our intuitive capabilities, and create or support narrow, fearful, and limited thinking. Negative self-talk, (would, could, should, but, what if?, may, and try) is of little value in helping the mind free itself from ordinary, or reactive thinking patterns.

The key for the innovative thinker is to focus on using inquiry-oriented words such as “who, what, why, where, when, and how?” When doing R and D, and In your private and public conversations, ask questions to bring you both the answers you need and the freedom that the right answers create. Doing these things can help you create and focus your sense of vision. Without a mental vision or a stated mission, life seems aimless.

 

 

 

By Norman Lear Center

 

 

The innovative thinker needs to think of things that excite them in a positive way.  They need to think about art, sailing, philosophy, learning about history, or even how their innovation will make the world a better place.  They need to focus on things they can do to reach or fulfill that vision. Remember, that without a vision or a mission, life has little meaning and may seem aimless.

Once the innovative process is in full swing, intuition may show up. Students of intuition in the innovative process know there are many forms of intuition.

Researchers have discovered that intuition is generally experienced through…

  1. physical sensations (kinesthetic),
  2. emotions, and feelings,
  3. symbols and images (mental)

 

Let’s explore each of these distinctions

  1. Physical Sensations: Physical (Kinesthetic) intuition involves the experience of physical sensations that communicate information. Those with this ability to feel physically “comfortable” or “uncomfortable” about something may experience this as a gut feeling, a physical pain, or something that excites their sense of passion.
  2. Emotional Intuition: This is usually experienced as a vague or specific feeling that has no explanation, but is usually right. For example, you might feel slightly depressed because you know something is wrong; you actually become sensitive to the emotional states of others around you; you recognize messages in their physical posture or you automatically have a certain feeling arise when specific messages are received. It is not an intellectual process but rather it happens right there at that moment.  Those who experience intuition on an emotional level (called emotional intuitives) often say phrases such as “I like” and “I don’t like,” or “this feels good or bad to me.” They also respond to requests from others and make decisions based on how they feel. If they are not aware that they do this, which is often the case, they may even experience a feeling without realizing that they are picking up thoughts and feelings from another person.
  3. Mental Intuition: This form of intuition may seem almost intellectual in nature: It may simply be an internal conversation you are having with yourself about a solution to a problem. It might also appear as a brainstorm in the shower, a hunch, or a nagging thought that won’t go away. This is especially the case for a person who is not normally obsessive about certain things, thoughts, or ideas. These thoughts may reflective of what we normally consider to be about common sense, or recognizing what seems obvious. Intuition is not logical, though it might initially be experienced as if it is.

According to my friend Nancy Rosanoff, a respected expert and writer on intuition, “Most often, people have a combination of the above three, though one form may be dominant. Rarely is someone totally one type. We categorize them only to indicate that there is more than one way to perceive intuitive information.”

Clearly, the innovative thinker needs to recognize the power of intuition in addition to logic, statistics, and the process of trial and error (heuristics).

 

 

About the author: I am a game theorist and self-improvement coach offering advice for innovators of all levels who are dealing with obstacles and constraints.

 

 

 

Most of my Medium stories that are related to self-improvement, life lessons, mental health, and gaming are anchored into the concept of Applied Game Theory. This idea explores how and why people make certain choices. Researchers into game theory have won over twenty Noble Prizes, and the movie “A Beautiful Mind” is about the life of John Nash, one of the pioneers in game theory. Learn more about how game theory can be a  powerful tool for self-improvement and the expansion of innovative thinking in the Medium.com article below. It was written so that a 12-year-old can easily understand and apply the simple 3 step system.

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

 

 

3 Tips to Achieve Massive Success by Applying Uncommon Sense and Game Theory

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This blog is a ·6 min read

There are many effective approaches to problem-solving, and decision making in applied game theory. Sometimes, the most effective approach is to ignore what seems obvious, logical, and rational. I have come to call these theories un-common sense. It is not that they are actually illogical it is that the logic of them is not obvious on the first appearance.

Tip #1 — Seek out unexpected facts or distortions when you are solving a problem. Many people are familiar with this way of thinking through Black Swan Events (BSE). A BSE is an unpredictable event that is beyond what is normally expected of a situation and which has potentially severe consequences. When dealing with complex and extreme problems simply using critical thinking and deductive reasoning — the process of reasoning from one or more statements (premises) to reach a logical conclusion — simply won’t work. One must also seek out unexpected facts or distortions to that orderly sequence of data. It is these distortions that may inhibit or even assist us in problem-solving. Immersing oneself in game theory strategies is the solution here.

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Immerse yourself in gamer psychology and solve many problems. Photo licensed under CC by Stuart Wainstock

Tip #2 — Go beyond traditional approaches to rational thinking: Generally speaking, virtually all problems and obstacles can be addressed through critical thinking — The systematic ordering of information in error correction and detection schemes.

Of course, the application of critical thinking to problem-solving, and obstacle removal, as well as approaches to unexpected irrational or unexpected events like BSE all originate with mathematics. Though we are not going to deal with extreme problems and obstacles in this article it may be useful for the advanced critical thinker to know that BSE, and other uncommon sense approaches system are essential to understanding things like chaos theory.

One need not be a mathematician to understand basic logical, and rational thought. Common sense will get you where you need to go, and if more is needed simple addition, subtraction, division, and multiplication will do the trick. Any common-sense approach to a problem is likely an expression of this way of thinking.

When one is confronted with an extreme problem such as a game theory concept called The Monte Hall Problem, it is the uncommon factor that is likely to lead to the solution. This also applies to some of the challenges that appear in our daily lives. There are some things in our lives that cannot be easily planned for, controlled, or even defined other than to say, “It is the unexpected.” Sometimes these things show up in a negative form and you don’t even recognize them when they happen. I call these “Un-intended Negative Consequences”. Applied Game Theory has won many Nobel Prizes for addressing these types of issues.

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Book cover design and photo CC License by brewbooks

Tip #3 — Keep an eye out for unintended negative consequences: These don’t usually happen immediately and that’s why they can be so devastating. Un-intended negative consequences normally develop over an extended period and have a momentum of their own that one may not so easily separate from.

Examples of non-linear factors include extreme weather, unexpected violence, unruly crowds, anything that we commonly call “acts of God”.

All things that appear as uncommon sense may not be the result of external events. There are some internal factors or elements in our being that we are unaware of but which constantly affect who we are and how we think. Often we are unable to move forward on a goal or a vision if we are limited by what seems like an irrational obstacle. Obviously one cannot transcend irrational elements through logic. Yes, there may be logic hidden in plain sight, yet we just can’t see the logic that is there.

One can only adjust and budget for these factors and somehow figure out how to integrate them into daily life. These obstacles are almost always non-sequential and unexpected. There are no trends or patterns you can evaluate to predict for them. All you can do is recognize them when they arrive, compensate for them, and wait them out. The American actor-comedian Dennis Leary has a saying about this which is explored in the very funny and poignant video link below : “Life is tough! Get a helmet.”

https://www.youtube.com/watch?v=H9VX8g8cDTo

Many consider what I have come to call non-linear events, to be negative but this is not necessarily the case. If you are impatient, have a poor support system, or like to be in control of everything — all of the time — the arrival of a non-linear factor can be frightening, or even overwhelming. But it doesn’t need to be so. It can be positive, serendipity if you will. A simple example might be that you are pulled over by the police because your car’s tail light was not functioning and you were unaware of it. Nevertheless, the officer who pulls you over chooses not to issue you a summons. Sometimes the non-linear factor presents us with serendipity — some effect where we accidentally discover something fortunate, particularly while looking for something else entirely.

There is a subtle link, a thread, or pattern between common and uncommon sense. This why non-linear events are not always as surprising as one might think. There is a subtle skill that some people have of being able to decipher where this pattern lies. Thus, what often appears as an accidental discovery or serendipitous event is actually the end result of subtle, even unconscious factors that bring an individual out of seeming chaos to a sudden unexpected discovery.

A self-actualized person must live in uncommon/common sense reality simultaneously. They have a full experience of the peak experience that comes from a highly evolved aesthetic sensibility and an appreciation of detail and order. They also have a naturally self-regulating and intuitive form of knowledge and expression.

Among some of the great thinkers who explored the distinction between common and uncommon sense and the linear and non-linear are Beethoven, R Emerson, von Goethe, Jefferson, and Adam Smith.

In fact, a person who understands applied game theory can actually create order out of chaos if they master uncommon sense. This is what happens when a vision comes to fruition.

Below is the book I wrote on the basics of game theory. I wrote it for nine- year-olds. If you can play Tick-tac-to or checkers you’ll understand it.

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Book cover design by Lewis Harrison

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Lewis Harrison is a best-selling author. An Independent Scholar in Practical Philosophy, he has a passion for applying game theory strategies and Life Skills in self-improvement.

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Part of human potential, personal improvement, and human potential is learning and using applied game theory. You can Become a Master of Applied Game Theory and Reduce Unnecessary Struggle in Your Life and Business through our Course 

 

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If you have an interest in becoming more efficient, effective, precise, and productive, explore our Master Classes, courses, and personalized/customized coaching program –  “Applied Game Theory A-Z and Beyond 2.2.”.

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Applied Game Theory is the Best Approach to Achieving Happiness

 

 

 

 

Among scientists it is the name used to describe systematic concepts that were designed to explain why and how individuals and organizations strategize, i.e. make decisions when one person (or more than one other person) might also affect the outcome of the decision. This concept is so important that researchers in the field have won dozens of Nobel Prizes including the two awarded this year

Today, (2020) game theory has become an umbrella term or ‘unified field’ theory for thousands of games, most being rational approaches to many different defined interactions including relationships in business, spirituality, competition, sports, romance, and even interactions with nonhuman players such as computers, animals, and plants.

Another way of describing game theory is as the observation of a set of ideas and numbers that describe the past, present, or future state of something particularly strategic interactions between two or more individuals or groups (players) in a situation containing set rules and outcomes. Gamer theory used in a number of disciplines and can be applied to make individual choices in everday life. The theory has most notably used as a tool within the study of economics, particularly in politics, sports, and international affairs. The economic application of game theory can be a valuable tool to aid in the fundamental analysis of industries, sectors, and any strategic interaction between two or more firms or individuals who need to strategize to create maximum benefit at the lowest possible cost.

How is game theory connected to happiness? Happiness can mean different things to different people. What game theory, especially my approach, known as Harrison’s Applied Game Theory (HAGT) can do is, reduce the ways in which people suffer.

 

Suffering is disruptive and at times necessary mental, emotional, psychological, and also a spiritual experience of unpleasantness and aversion associated with harm or threat of harm. On the positive side, suffering can contribute to how you organize meaning in your emotional world and much more. One should never assume that all suffering is negative. The key is to understand which suffering is essential and which is a self-created illusion.

 

 

 

 

 

For the unaware individual, it is often a negative experience, especially if this individual has made poor choices in the past.

 

Compassion, one of the most worthy, and admired of human qualities; often comes from recognizing the suffering of others. Their suffering may present great meaning and direction to your own life, motivating, and also inspiring you to serve others in need.  This service, in turn, creates a larger sense of community.

What determines how intense your suffering is or will be? The origin and cause of suffering; its processes, the meaning it presents to the individual who seems to be suffering; its related social, personal, and cultural behaviors; the knowledge of how to manage, reduce, or eliminate the suffering; and the benefits one might accrue for having suffered will all influence the intensity of that suffering.

 

Add to this the frequency of each occurrence, plus the concurrence of mental, emotional, psychological, and also spiritual factors involved. Now by combining these with the duration of the suffering, and you have a wide range of experiences related to suffering. If you are to understand the meaning of your life it is essential that you explore how and why you suffer.

 

The Meaning of Life

All human suffering, whether necessary or self-created, is tied to obstacles that have meaning for us.   Such an obstacle

may be associated with some physical or psychological discomfort, or spiritually speaking, from the “pain of longing” – the seeking of something deeper than the world of form. Who can say what it might be?

 

 

 

 

Transcending obstacles define much of what goes on in life. Think about it.  It is likely that you function day to day on “automatic pilot,” then suddenly you experience a usually unexpected obstacle. Now, this obstacle might be walking up the steps of a non-functioning escalator, or waiting in a long line at the post office. It may be something equally annoying like a sudden red light that causes you to hit the brakes on your car.  These types of challenges are what get your attention.

 

When things, events, or people limit your freedom, these “obstacles” take on meaning. We are also often drawn to things of great beauty, sensuality, and elegance. These things also have meaning. So as you can see, to notice something, positive or negative is to give it meaning.

 

What does it mean for something to have meaning? This is an important question. Many great thinkers have proposed that all meaning is based on your perception as well as shifts in your perception.

 

Many of us go through life unconsciously. We each decide arbitrarily that some things are important while others are not. Something might have meaning now that did not have any meaning just a few moments ago.

 

Does ‘meaning’ have to have a particular quality or quantity to it? Will any sense of meaning do? How would you even know if something had more than a superficial meaning? What’s the link between meaning and significance in daily action? If something has meaning for you, does it have ‘meaning’ because it reinforces your sense of being – or is something deeper going on? Is meaning anything more than what grabs your attention?

 

 

 

 

 

Your answers to these questions about the “meaning of life” may have great implications for how you think, make choices, use language, and communicate with others in the process of daily living. Without this inquiry, you may be destined to a life of confusion or intellectual, emotional, and spiritual numbness.

 

What Harrison’s Applied Game Theory does is offer a person the ability to be more effective, efficient, precise, productive, and self-aware. It also gives creative and innovative thinkers the opportunity to create greater meaning in their life by making a measurable difference in the world.

Learn more at: https://lewiscoaches.medium.com

 

To Explore Game Applied Theory Strategies 

·         My Youtube — for more kick @ videos to take your life and business to the next level… asklewis/lewis harrison game theory #1 (https://www.youtube.com/watch?v=4lzIPU0DSiU&t=87s)

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·         Msg Me — on Facebook messenger and let me know what you’re struggling with the most! (I’ll actually reply!)

 

 

To view many other articles on game theory click below:

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The Course on Applied Game Theory

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Applied Game Theory, and the Importance of History in Strategizing

Applied Game Theory, and Gamer Psychology

 

Welcome to my Applied Game Theory Newsletter. This is the place you will get real facts, not fake news, or the hype of wish-full thinking. Read on and you will learn how to create winning strategies while becoming more effective, efficient, precise, productive, and self-aware.  Today’s report is about How Understanding Factual History can Take Your “Life Game”  to a Higher Level

 

 

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Let’s explore Applied Game Theory and the Importance of History in Strategizing. It has been said that if you don’t understand history you are likely to repeat it. This is especially so if you are seeking to be more EEPPSA (Effective, efficient, precise, productive, and self-aware. The skilled gamer theorist and strategist studies history to isolate essential patterns. This does not need to be complex.

 

 

 

 

Whether it’s the history of thanksgiving, military strategy, or business success a good place to start is the history channel which has a pop-culture sensibility but plenty of interesting questions, Of course, you can Google History and work your way in from there, I learned a lot just watching the movie American History X, If you search history online lots of interesting stuff will pop up, another way to learn about the past is to take today’s dates and look up this day in history or on this date in history, you can look up today in history, some ethnic groups celebrate certain times of the year to explore their history such as black history month, some seek hardcore history fetching every small detail of the narrative, others flow through YouTube history.  Whether you are seeking fact-based clear history or fact-based  revisionist history the journey is the same, If you are interested in specific subjects you can check out the history channel schedule for history channel shows on the subject

 

Applied Game Theory can help you to connect the dots correctly, and isolate the Dots ……….You May Have Missed

On the surface the issue is simple. Anti-democracy Communist China is bad, democratic Hong Kong is good. I’m a big fan of freedom of speech and clearly the Communists are not. Still, the question arises, why has Hong Kong been separate from China all these years? If you study history and look at it all through the perspective of applied game theory things get a bit fuzzy.

Watch the video below and you’ll see what I mean.

 

After watching this video I think you can understand what I mean concerning the history of Hong Kong and history in general. Things are seldom black and white. This is where applied game theory and gamer psychology can be such a powerful tool.

 

 

The fact is that if you did even a little, serious, fact-based research you could find short articles and videos to explain basic facts from different political, social, and, economic perspectives. A good place to start is the history channel which has a pop-culture sensibility but plenty of interesting questions, Of course, you can Google History and work your way in from there, or watch historically driven films, even if fictional. I learned a lot just watching the movie American History X.  If you search history online lots of interesting stuff will pop up.  Another way to learn about the past is to take today’s’ dates and look up this day in history, on this date in history, and you can also lookup today in history.

 

 

 

Some ethnic groups celebrate certain times of the year to explore their history such as black history month, some seek hardcore history fetching every small detail of the narrative, while others flow through YouTube history for short 5-minute video tips.  Whether you are seeking fact-based clear history or fact-based revisionist history the journey is the same. If you are interested in applied game theory and being more effective and efficient, there are specific subjects you can check out on the history channel. See the schedule for history channel shows on the subject.

 

 

Though there may not be one “right point of view” there are certain facts most critical thinkers can agree on even concerning such controversial subjects as:

  • The History of Thanksgiving
  • Why the American Civil War Happened
  • The source of the problems in Hong Kong
  • Israel, the West Bank, and Gaza
  • What happened in the American Revolution – For instance, The Boston Tea Party did not happen in any way as described by most history books. Oh, and if you don’t know what the Boston Tea Party is, there is a challenge right there.(No it wasn’t an actual Tea Party). Look it up!

 

So what is the meaning of history? History” is an umbrella-term that relates to past events as well as the memory, discovery, collection, organization, presentation, and interpretation of information about these events. The definition of history is drawn from the ancient Greek word, historia, meaning ‘inquiry; knowledge acquired by investigation’. Essentially history is the study of the past.

Events occurring before the invention of writing systems are considered prehistory. ” Scholars who focus on history are called historians. The historian’s role is to place the past in context, using sources from moments and events, and filling in the gaps to the best of their ability. Written documents are not the only sources historians use to develop their understanding of the past. They also use material objects, oral accounts, ecological markers, art, and artifacts as historical sources. In a sense, you could, if you wish, become a skilled amateur historian, a person who solves puzzles by organizing historical facts, material objects, oral accounts, ecological markers, art, and artifacts as historical sources. Still, there is a difference between being a gatherer of historical data point and just making stuff up.

 

 

As Daniel Patrick “Pat” Moynihan (March 16, 1927 – March 26, 2003) the respected American politician, sociologist and diplomat once said   “Everyone is entitled to his own opinion, but not his own facts.” In real-time this is important for anyone, whether a Zionist, “boycott Israel” activist, Black Lives Matter Supporter, or gun rights-second amendment constitutionalist, to keep in mind as they wildly Tweet without seeking out historical facts that are not only not hidden but are sitting there in plain sight.

So let’s look a little closer at the history of History

Herodotus, a 5th-century BC Greek historian is often considered (within the Western tradition) to be the “father of history,” or, by some, the “father of lies.” Along with his contemporary Thucydides, he helped form the foundations for the modern study of human history. Their works continue to be read today, and the gap between the culture-focused Herodotus and the military-focused Thucydides remains a point of contention or approach in modern historical writing. In East Asia, a state chronicle, the Spring and Autumn Annals, was known to be compiled from as early as 722 BC although only 2nd-century BC texts have survived, and throughout the aboriginal world history has been passed down through the oral tradition. Is one approach superior to another? Who am I to say. Still, if we wish to transcend old clichés such as “history is written by the winners” we are going to have to put our thinking caps on and do a little research, research that transcends our cognitive biases and logical fallacies about what happened, where and how did it happen, and who was involved or affected by it happening?

 

 

History, like gsme theory also includes the academic discipline which uses narrative to describe, examine, question, and analyze a sequence of past events, investigate the patterns of cause and effect that are related to them. Historians seek to understand and represent the past through narratives. They often debate which narrative best explains an event, as well as the significance of different causes and effects. Historians also debate the nature of history and its usefulness by discussing the study of the discipline as an end in itself and as a way of providing “perspective” on the problems of the present.

 

Stories common to a particular culture, but not supported by external sources (such as the tales surrounding King Arthur), are usually classified as cultural heritage or legends. History differs from myth in that it is supported by evidence. However, ancient influences have helped spawn variant interpretations of the nature of history which have evolved over the centuries and continue to change today. The modern study of history is wide-ranging and includes the study of specific regions and the study of certain topical or thematic elements of historical investigation. History is often taught as part of primary and secondary education, and the academic study of history is a major discipline in university studies.

If you have an interest in developing greater historical literacy, I recommend you explore the resources below. Just Click on the Library books below for, the best free resources for accurate history.

 

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These informational and entertaining postings will help you to be more effective, efficient, productive, and self-aware, consider learning game-based thinking and life strategies through Harrison’s Applied Game Theory (HAGT).

What are your thoughts on game theory and political strategies?  I’d like to hear them.

 

 

One of the ways we financially support this blog is by successfully applying game theory and sports analytics to sports betting, and to FIFA Fantasy Football (Soccer). If you have an interest in these profit-making opportunities here are free videos and information about Sports Betting and FIFA Fantasy Football. Below is an introduction to one of muy favorite systems. If this is your interest explore this Complete Analytics-Driven Sports Fantasy Football and Sports Betting System. It’s based on the ideas presented in the book and movie Moneyball. Press on the play button below.


 

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Home Page and an Introduction to Applied Game Theory

Welcome

This website is dedicated to the study, exploration, teaching, and application of Applied Game Theory and gamer psychology in its many forms.

Don’t be scared off by the word “Theory”.  Applied game theory is a simple and easy system to learn and to use. It is one of the most important systems for making the most efficient, effective, precise, productive, and self-aware choices.

What is game theory? The easiest way to define game theory is a way purpose of it was to address situations where two or more parties (called agents or players) make a choice between two or more alternative situations/strategies. As you can see game theory can be an invaluable tool for winning in fantasy football, sports betting, making predictions, or learning how to become wealthy through investing. I have known many a typical gamer who can master pro gamer by applying game theory and gamer psychology.

Putting my approach to game theory, HAGT – Harrison’s Applied Game theory is so simple to use that a small child can learn it quickly and intuitively.

Of course, people have been applying gamer psychology since prehistoric times, both in tribal behavior, through reciprocal altruism, and in competition in all forms.

 

 

So, when was game theory created or codified? What are the origins of classical game theory? This way of observing what we now refer to as behavioral economics was organized as an important concept in back in the1942, though the application of the concept goes back to prehistoric times.  Another way to define game theory is the study of human conflict and cooperation within a competitive situation. Classic game theory was first introduced by John von Neumann (mathematician) and Oskar Morgenstern (economist) in their 1944 book The Theory of Games and Economic Behavior. This system has won over a dozen Noble Prizes for problem-solving researchers over the last five decades and continues to do so.

The question is how can a person apply game theory to survive and prosper in daily life or even change their life for the better?

 

 

I have used Applied Game Theory to fine-tune how I run my life, on a daily basis for over thirty years.  I actually created this website to give you and others the same opportunities I have had for achieving wealth, success, freedom, and the chance to serve others as a philanthropist.

 

 

 

This website is organized to offer you entertainment, tips, techniques, strategies, and some free and (some for a fee) tools to use applied game theory to take you to the next level.

If you are new to the concept of game theory and gamer-thinking let me tell you a bit about the history of game theory and how I took it out of the prison of academia into real-world applications. Keep in mind it is so easy to understand that even a child gets it pretty quickly.

 

 

If you are a beginner here, the important thing to know is that there are two main branches of game theory:  win-win cooperative, and win-lose non-cooperative game theory. Win-lose non-cooperative game theory deals largely with how intelligent, rational individuals interact with one another in an effort to achieve their own goals, generally, within moral and ethical boundaries, without concern for the impact of their win upon other players.

 

 

 

 

 

My personal passion, and hopefully yours as well is exploring how game theory can be applied to more everyday situations. For example, you can explore taking on a regular job, starting your own business, becoming a sports bettor, or invest in stocks, commodities, or even in Fantasy Sports.

 

 

 

Your payoff, a game theory term, in this case, is a combination of the benefit you gain from how much money you make, and the loss incurred by the time/effort spent on engaging in the path to making that money.  The agents are other investors, players, agents, and or your competitors.  Your optimal strategy will depend on how tough each path to wealth is, how strong your competitors are, and the quality of the resources available to you. This is a fact in investing, in sports betting, and also in fantasy sports.

 

 

 

 

If you were to formalize the above problem by formally describing how each person is believed to act with numbers and equations, game theory can tell you what the optimal strategy is, or what is expected to happen when following a given strategy. In your everyday life, you probably solve an approximation of this problem without formalization or complex mathematics.

 

 

 

 

This is both the strength and weakness of classical game theory. It focuses on how rational individuals are likely to behave. Of course in the real world, humans are emotionally driven-irrational creatures. Much of game theory is limited in how it can address irrationality. In other words, playing chess with a dog makes more sense than trying to figure out what makes a human tick through classical game theory.

 

 

 

As both a student and teacher of magic, stage mentalism, strategic thinking, and hypnosis for over forty years, I came to the understanding that there are many areas of human interaction that the logic-based elements of game theory are insufficient to address.

 

 

The breakthrough for me was when I was able to meet and had long conversations with Dr. Harvey Slatin. Dr. Slatin was an American physicist and inventor and was the 23rd scientist recruited to work on the Manhattan Project at Los Alamos, New Mexico in 1942 where he worked on the isolation of plutonium. During his time at the Manhattan Project he often played poker with the pioneers of game theory including John von Neumann.  When I met him, he was already 94 years of age. Dr. Slatin was at that time the last surviving member of his Special Engineering Detachment (SED) relating to the Manhattan Project, where the Atom Bomb was developed. By coincidence, while researching the pioneers of game theory online I came across Dr. Slatin’s name. Later, when I and my wife moved to the small and isolated Hamlet of Stamford, NY it turned out Dr. Slatin lived there. I reached out to him and he befriended me. During the last three years of his life, Dr. Slatin generously mentored me on classic game theory as I created my practical philosophy, now called Harrison’s Applied Game Theory.  Much of my work is built on what I learned from him. Thank you  Dr. Slatin.

So now that you know my story, let’s focus on your needs. With advances in the gathering of data and the analysis of that data, it is now easier than ever to game the world. With the right attitude, the appropriate emotional state of mind, the right skills, the best mentoring, and an effective community of peers, applied game theory can be the perfect tool for analyzing strategies that deal with competitive situations. These are the situations where the outcome of our choices and actions depends critically on the actions of other participants. Whether you are a video-gamer, sports better, an aficionado of fantasy sports, a prepper, a Lifehacker, an entrepreneur, or an investor.

 

 

 

 

If you are looking to have greater success in your life, want greater financial freedom, and want to learn how to win the game of life than you have definitely come to the right place.

If you have an interest in applying game theory to specific areas in your life I invite you to explore some of the videos below on a variety of game theory-based – Lifehacking educational programs and products I have created or personally endorse. All are chosen to help you to change your life.

• If your interest is on Game Theory, and a Complete Analytics-Driven Sports Betting System press on the play button below.

• If your interest is in Getting Wealthy through Game Theory and Fantasy Football click the Football /Soccer players button below…

• If your interest is in accessing Advanced Secrets for Getting Rich through an analytic based Sports Betting System that collects and organizes relevant, historical statistics,  click on the face of the blue data analyst button below…

• If your interest is the Prepper/Lifehakers approach to water purification click on the lifehack water bottle with wings below…

• If your interest is in Weight Loss, and a Game Theory Approach to the Keto Diet click on the tape-measure wrapped around the burger below…

• If your interest is in a Warren Buffett Influenced Investing System click on the Hundred Dollar Bills Below…

• If your interest is in Increasing Your SEO and Building Your Digital Marketing Business, and Creating Riches on YouTube, click on theYouTube Icon Below…

• If your interest is in a Master Athletic Coaches Secret tips for Turbocharging Your Dunking, Jumping, Running,  and General Athletic Ability clicks on the illustration of the runner button below…

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Get World Class Training  in Gamer Psychology and  Harrison’s Applied Game Theory

The Ask Lewis Team offers Advanced Courses on Lifehacking, Crisis Management, Strategic Thinking, Troubleshooting, the World of the “Fixer, and How to Win the Game of Life read more below.

If you have an interest in becoming more efficient, effective, precise, productive, and self-aware, explore our Master Classes, courses, and personalized/customized coaching program –  “Applied Game Theory A-Z and Beyond”.

Learn more by clicking on the Game Theory  Icon button below…

A-Z and Beyond…

 

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I also invite you to read, my regular blogs on game theory, and follow my posts and vlogs throughout the social network:

 

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Contact Information

Thanks for allowing me to share my knowledge with you. If you want to contact me,  simply drop me an email…

LewisCoaches@ gmail.com
The Game Theory Gamer Research Team

 

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The free video links on this page lead to various affiliate links for “for-fee” products. We may receive commissions for purchases made through those links.

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Tips on How to Get Rich from AskLewis: What is a Credit Union? A Short Tutorial

 

Welcome to My Wealth-Building and Investing Newsletter. This is the place you will get real facts, not fake news, or the hype of wish-full thinking. Read on and you will learn how to create wealth by investing wisely. This blog is taken from a lesson in our course on WealthHacks.

 

 

This blog offers tools, techniques, strategies, products, courses, and coaching tips for lifehackers, preppers, freegans, and the ordinary person seeking to live your best life. The site is designed to entertain, educate, and guide deep thinkers on the Path to transcending obstacles, solving problems through gamer psychology,  and accessing the best investing tips and conscious business practices.

 

 

 

 

 

For a passive investor, one of the best places to begin growing wealth is with a Credit Union. In the early stages, this is how investing works using game theory. When using gamer psychology for investing, or when you are investing during a recession it is best to start slow creating a financial safety net, in case you lose your job or you need money for necessities during a pandemic or some other worst-case scenario. If you are a more advanced investor and have an interest in a Warren Buffett Influenced Investing System click on the Hundred Dollar Bills Below…

 

Investing with a Credit Union

What is a credit union? A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. Many credit unions also provide services intended to support community development or sustainable international development on a local level.

Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with assets worth several billion US dollars and hundreds of thousands of members. Credit unions operate alongside other mutual and/or co-operative organizations engaging in cooperative banking, such as building societies. Credit unions and investing go hand in hand. Some folks, want to save but also want to make money faster than they can with a Credit Union, but with less risk than the stock-market.  If this is your interest explore this Complete Analytics-Driven Sports Fantasy Football and Sports Betting System. It’s based on the ideas presented in the book and movie Moneyball. Press on the play button below.


 

Credit unions differ from banks and other financial institutions in that those who have accounts in the credit union are its members and owners, and they elect their board of directors in a one-person-one-vote system regardless of their amount invested. Credit unions see themselves as different from mainstream banks, with a mission to be “community-oriented” and “serve people, not profit”.

Credit unions offer many of the same financial services as banks, but often using a different terminology; common services include share accounts (savings accounts), share draft accounts (checking accounts), credit cards, share term certificates (certificates of deposit), and online banking. Normally, only a member of a credit union may deposit or borrow money. Surveys of customers at banks and credit unions have consistently shown a significantly higher customer satisfaction rate with the quality of service at credit unions. Credit unions have historically claimed to provide superior member service and to be committed to helping members improve their financial situation. In the context of financial inclusion credit unions claim to provide a broader range of loan and savings products at a much cheaper cost to their members than do most microfinance institutions.

 

Credit unions must make enough surplus to cover expenses, otherwise, like any other business, they cannot continue, in which case they can become insolvent and cease to exist; the effect on those with funds deposited varies between jurisdictions.

Several factors combine to put credit unions at risk of failure. They may not be allowed to lend enough money to enough people who are willing and able to repay because of their rules on responsible lending. When debtors get into trouble, they may repay liabilities such as payday loans with high interest rates first, leaving the credit unions last. In some cases courts, after ruling against debtors, they have been allowed to pay off their debts with small payments, often free of interest, over a long period.

 

Credit unions differ from larger banking chains in two distinct ways:

  1. One key difference is that a credit union is a not-for-profit institution.
  2. Credit unions are member-focused institutions. A credit union is a cooperative, which means it is owned and  operated  by  its members, as opposed to being owned by its stockholders like a bank. Your initial membership deposit makes you a part owner of the credit union.

 

There are many advantages to investing through a credit union. If you pass the membership requirements, credit unions have a lot to offer over a regular bank:

1. Higher Interest Rates: This applies all deposit accounts including savings, money market, and checking accounts. Only online banks offer rates that are competitive or, in some cases, better than the rates offered by credit unions.

2. Lower Loan & Credit Card Rates: Credit unions offer the same financial products as banks, but they are much cheaper. Most people use their local credit union for car purchases because the rate is normally lower than dealer financing and because commercial banks are normally a percentage point or two higher than credit unions. Credit unions also offer low APRs on mortgages, personal loans, and credit cards.

3. Lower Fees: Credit unions have few fees compared to national banks. In fact, many offer checks, withdrawals, and electronic transactions free of charge. Many also offer checking accounts with no minimum balance and without a monthly account servicing charge. This could save you hundreds of dollars a year. Credit unions also charge less for bounced checks and overdraft fees.

4. Customer Focused Banking: With credit unions, member goals aren’t at odds with “management.” Therefore, the credit union has more incentive to provide low rates, fees, and great customer service.

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Who and what is AskLewisGameTheory.com. We are the online presence of a thinktank dedicated to the exploration of human potential, effectiveness, efficiency, productivity, radical self-sufficiency, personal development, and self-awareness in daily living and in business.

 

 

 

• If your interest is in starting your own online business, you may need training in how to increasing your SEO and Build Your Digital Marketing Business. A key element here is Creating Riches on YouTube. To learn about this click on theYouTube Icon Below…

 

 

 

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Get World Class Training  in Gamer Psychology and  our Wealthhacks Investment-system based on Harrison’s Applied Game Theory

 

The Ask Lewis Team also offers Advanced Courses on Lifehacking, Crisis Management, Strategic Thinking, Troubleshooting, the World of the “Fixer, and How to Win the Game of Life read more below.

If you have an interest in becoming more efficient, effective, precise, productive, and self-aware, explore our Master Classes, courses, and personalized/customized coaching program –  “Applied Game Theory A-Z and Beyond”.

Learn more by clicking on the Game Theory  Icon button below…

A-Z and Beyond…

 

oooooooooooooooooooooooooooooooooooooooooooooooooooooo

I also invite you to read, my regular blogs on game theory, and follow my posts and vlogs throughout the social network:

 

oooooooooooooooooooooooooooooooooooooooooooooooooooooo

Contact Information

Thanks for allowing me to share my knowledge with you. If you want to contact me,  simply drop me an email…

LewisCoaches@ gmail.com
The Game Theory Gamer Research Team

 

oooooooooooooooooooooooooooooooooooooooooooooooooooooo

The free video links on this page lead to various affiliate links for “for-fee” products. We may receive commissions for purchases made through those links.

ooooooooooooooooooooooooooooooooooooooooooooo

To Explore Ideas Creative And Innovative Ideas Related To Harrison’s Applied Game Theory You May Want To Explore The Following Subjects and associated links

 

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