3 game theory tactics, explained

8 insights saved from this video by @psychology

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Any interaction with someone pursuing independent interests is strategic: their choices advance objectives under uncertainty over time.
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Break a trust-sensitive interaction into small repeated exchanges with verification, and a social dilemma can become cooperation.
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In a zero-sum game against a sophisticated opponent, minimax chooses the strategy that minimizes your worst possible loss.
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A strong poker hand demands extracting the most from an opponent. A weak hand demands minimizing what you lose.
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The sunk cost fallacy keeps people investing in failing choices even when every future investment is unfavorable.
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Even interactions that look purely competitive often hide opportunities for cooperation and gains shared by both sides.
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Poker teaches a hard truth about uncertainty: make the mathematically best decision available despite incomplete information.
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Decide based on expected future consequences, not past time, effort, or money already spent.

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