February 2013
Beginner
136 pages
3h 4m
English
Content preview from Game Theory
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Games Against Your Customers
In this chapter, we will focus on the ways buyers and sellers can use information as a tool to help them make better decisions. Though important, we are not going to discuss semantic marketing tactics here (the term “Green Product” might be better than “Environmentally Friendly,” for example…), or simple innumeracy of consumers (e.g., a one-third price discount is better than one-third more product free, but most customers do not know this). We are talking about how the use of information affects the actions and reactions in relationships between customers and businesses.
8.1 Adverse Selection
Businesses normally want customers who pay their bills and do not cause any trouble. In this ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.