I am a Professor of Economics at Washington State University. My research focuses on applying Game Theory and Industrial Organization models to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and merger decisions, both under complete and incomplete information contexts.
This book is a short introduction to undergraduate-level Game Theory, with a special focus on basic games of complete information and contracts.
It avoids jargon, notation, or formal definitions but emphasizes economic intuition and offers many examples in each chapter. Some chapters require a good math background, making the book a good fit for students who already took at least one course in algebra and calculus.
Joel Watson has refined his successful text to make it even more student-friendly. A number of sections have been added, and numerous chapters have been substantially revised. Dozens of new exercises have been added, along with solutions to selected exercises. Chapters are short and focused, with just the right amount of mathematical content and end-of-chapter exercises. New passages walk students through tricky topics.
I used to hate lifestyle businesses, looking down my nose at them, saying (as many others do!) that they weren’t realbusinesses. After a “lightbulb moment,” I now proudly describe myself as an ambitious lifestyle business owner – someone who designs their business around their lifestyle, rather than the other way around. Work to live, not live to work! As well as Big Ideas... for Small Businesses, a bestselling book about how to build a lifestyle business, I also host the Ambitious Lifestyle Business podcast, where I interview other lifestyle business owners, discovering how what an ambitious, lifestyle business looks like for them.
Bigger isn't better – at least not when it comes to lifestyle businesses.
The “Company of One” mindset is very similar to my own “Ambitious, Lifestyle Business”: deliberately small, and designed to deliver the lifestyle desired by the owner, rather than growth at all costs. It doesn’t necessarily mean one person (personally, I run a Company of One with a team of seven).
There is only one “rule” for a Company of One – you must constantly question the need for growth. People say you should start with the end in mind. I say start with the lifestylein mind, and then design the business around this.
Company of One will help you do this from day one (and believe me, that's far easier than changing old habits!).
What if the real key to a richer and more fulfilling career was not to create and scale a new start-up, but rather, to be able to work for yourself, determine your own hours, and become a (highly profitable) and sustainable company of one? Suppose the better - and smarter - solution is simply to remain small? This book explains how to do just that. Company of One is a refreshingly new approach centered on staying small and avoiding growth. Not as a freelancer who only gets paid on a per piece basis, and not as an entrepreneurial start-up that…
For the last 25 years, I have been a coach to business founders, leaders, and leadership teams. My work has taken me to every continent from my base in London. A lot of my work is done behind closed doors, but I have been instrumental in building two unicorns in the last decade. I’m a founder myself and have always been fascinated by what it takes to succeed as a founder. I have a powerful conviction that learning to lead is the heart of it. The books I love are either based on real-world research or deeply practical and based on hands-on experience. Practice trumps theory every time in my world!
This book makes strategy practical for founders, and strategy is so often done badly and contributes to business failure.
The essence of it is to recognize and solve the “decisive challenge.” For example, Elon Musk identified and solved the decisive challenge facing SpaceX when he made Falcon 9 the world’s first orbital class reusable rocket.
Back down to earth, strategy has to face the business challenges honestly and provide a coherent approach to tackling them. This book genuinely helps us to do just that.
When Richard Rumelt's Good Strategy/Bad Strategy was published in 2011, it immediately struck a chord, calling out as bad strategy the mish-mash of pop culture, motivational slogans and business buzz speak so often and misleadingly masquerading as the real thing.
Since then, his original and pragmatic ideas have won fans around the world and continue to help readers to recognise and avoid the elements of bad strategy and adopt good, action-oriented strategies that honestly acknowledge the challenges being faced and offer straightforward approaches to overcoming them. Strategy should not be equated with ambition, leadership, vision or planning; rather, it is…
I am a Professor of Economics at Washington State University. My research focuses on applying Game Theory and Industrial Organization models to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and merger decisions, both under complete and incomplete information contexts.
This book is a beautiful, non-mathematical introduction to Game Theory for everyone, even high school students interested in strategy, its basic modeling, and how to solve games.
It has applications to everyday life, including examples from real business and political science, making it accessible to all sorts of readers. Its verbal description of some solution concepts and mathematical results is, however, too lengthy at times, especially for non-English speakers and students with a good math background, potentially leading to unnecessary confusion.
Game theory means rigorous strategic thinking. It's the art of anticipating your opponent's next moves, knowing full well that your rival is trying to do the same thing to you. Though parts of game theory involve simple common sense, much is counterintuitive, and it can only be mastered by developing a new way of seeing the world. Using a diverse array of rich case studies-from pop culture, TV, movies, sports, politics, and history-the authors show how nearly every business and personal interaction has a game-theory component to it. Mastering game theory will make you more successful in business and life,…
I practised risk, resilience, and protection of infrastructure systems for 35 years. Mid-career, I became frustrated that we could deliver highly successful projects yet didn't deliver their ultimate purpose. This difference is particularly pronounced in war zones and the developing world, where most of my work has been. My research at the University challenged what I knew: it was as if someone had taken my heuristic understanding and cast the components like a pack of cards into the wind. I have shared some highlights in my journey to gather the cards. I hope you like them.
Judith Rodin is one of the more extraordinary influencers of resilience thought and practice. As President of the Rockefeller Foundation, she oversaw the 100 Resilient Cities initiative. The initiative may not have been as "sticky" as many hoped, but the lessons from this experience continue to inform and spur action in cities worldwide. This book gives us a sense of her thinking and vision in driving the initiative. It does not hold all the answers, and many take issue with her perspective. Nonetheless, it is a must-read for anyone thinking about protecting our cities. In an ideal world, I'd love to see Judith Rodin write the next book with Juliette Kayyem, former US Assistant Secretary of Homeland Security, drawing on all that we've experienced over the last tumultuous decade.
Building resilience,the ability to bounce back more quickly and effectively,is an urgent social and economic issue. Our interconnected world is susceptible to sudden and dramatic shocks and stresses: a cyber-attack, a new strain of virus, a structural failure, a violent storm, a civil disturbance, an economic blow. Through an astonishing range of stories, Judith Rodin shows how people, organizations, businesses, communities, and cities have developed resilience in the face of otherwise catastrophic challenges: Medellin, Colombia, was once the drug and murder capital of South America. Now it's host to international conferences and an emerging vacation destination. Tulsa, Oklahoma, cracked the…
I am a writer, teacher, and partner at IDEO, the global design and innovation firm. Before IDEO, I spent more than a decade teaching university undergrads and MBAs to create better choices, in their work and their lives. Now, I work with business leaders to help them do the same thing, at the intersection of design and strategy. I believe that one key to getting to those better choices is the ability to understand, reflect on and, yes, even improve our own way of thinking and engaging with the world. The books on this list have shifted my own understanding of the world and how I think. I hope they inspire and challenge you as well.
My own early experiences with strategy were pretty uninspiring – slow, incremental, and almost entirely analytical. But the framework that Roger and AG lay out in Playing to Win changed it all for me. It’s practical. It’s understandable. And it is aimed at not just understanding the world as it is, but at imaging a world that might be different… and forging a real strategy to bring that new world to life. The book is based on the approach to strategy Roger honed in his career as a management disclosure and that AG practiced as CEO at Procter & Gamble. Full disclosure, I helped them as they were writing the book – and honestly think it is the best book on strategy of the past 30 years.
Are you just playing--or playing to win? Strategy is not complex. But it is hard. It's hard because it forces people and organizations to make specific choices about their future--something that doesn't happen in most companies. Now two of today's best-known business thinkers get to the heart of strategy--explaining what it's for, how to think about it, why you need it, and how to get it done. And they use one of the most successful corporate turnarounds of the past century, which they achieved together, to prove their point. A.G. Lafley, former CEO of Procter & Gamble, in close partnership…
I’ve been working in value-based pricing for over 20 years and I’ve seen firsthand how it can transform a company’s profits when done right and executed properly through sales. While the specific strategies and tactics vary across industries, company size, and product offerings, many of the foundations and logic behind those strategies can be learned, and must be understood in order to grow a company’s revenue and profit growth in today’s markets. I’d love to connect about any of these topics – feel free to reach out on LinkedIn!
Porter’s five forces have been around a long time–and they’re an important and timeless framework for strategy.
It helps companies focus on where to improve as they look to dominate a market, understanding the ecosystem of competitive threats, entrants, and substitutes.
By understanding what contributes to your pricing power and knowing your stance in different environments, leaders will learn to discern what your pricing power is and how to build and maintain it over time.
Now nearing its sixtieth printing in English and translated into nineteen languages, Michael E. Porter's Competitive Strategy has transformed the theory, practice, and teaching of business strategy throughout the world.
Electrifying in its simplicity-like all great breakthroughs-Porter's analysis of industries captures the complexity of industry competition in five underlying forces. Porter introduces one of the most powerful competitive tools yet developed: his three generic strategies-lowest cost, differentiation, and focus-which bring structure to the task of strategic positioning. He shows how competitive advantage can be defined in terms of relative cost and relative prices, thus linking it directly to profitability, and…
I am passionate about giving people the benefit of good intentions and my faith calls me to care and serve others. Today, I believe my purpose is to help inspire leaders to trust in the inherent good in people while caring and serving them in intentional ways that leads to high performance. I have been blessed immensely and want to give back to others so their journey can be one of significance. As former CEO of my company, I had no roadmap which made our journey even more difficult. Now, I have experienced the joy, the fulfillment, and the abundance of building a people-first culture. Together we can make a difference for so many people.
So many insights for leaders in one book and they are summarized one after one.
The power of connecting is stressed over and over. Diversity of teams tops the expertise of individuals. The power of investing in the soft edge (people). This book is a must-read for anyone wanting to lead others.
Brilliantly simple, actionable guidelines for success that any business leader can immediately implement.
“Tom Peters' new book is a bundle of beautiful dynamite. While I've been a CEO for 30 years, I still learned much worth knowing from The Excellence Dividend. You will too.” —John C. Bogle, founder, Vanguard
For decades Tom Peters has been preaching the gospel of putting people first, and in today's rapidly changing business environment, this message is more important than ever. With his unparalleled expertise and inimitable charisma, Peters provides a roadmap for you and your organization to thrive amidst the tech tsunami, and he…
After a career that took me from designer to design professor, I’ve spent the past decade leading user research practices for growing product organizations. I’m excited about user research because it positions us closer to the people we design for, and challenges us to capture and explain complex scenarios in service to them. Though there are many books that teach user research, my list of recommendations is meant to demonstrate why we research, how we make sense of what we learn, and where research might take us.
Authors Christian Madsbjerg and Mikkel Rasmussen run consulting company ReD, where they put anthropologists, sociologists, economists, journalists, and designers together to deeply understand humans in service of their clients. In The Moment of Clarity, the authors share their methods and approach via rich case studies, including their impactful work supporting LEGO in better aligning its products to its customers.
Businesses need a new type of problem solving. Why? Because they are getting people wrong. Traditional problem-solving methods taught in business schools serve us well for some of the everyday challenges of business, but they tend to be ineffective with problems involving a high degree of uncertainty. Why? Because, more often than not, these tools are based on a flawed model of human behavior. And that flawed model is the invisible scaffolding that supports our surveys, our focus groups, our R&D, and much of our long-term strategic planning. In The Moment of Clarity, Christian Madsbjerg and Mikkel Rasmussen examine the…
I’m a journalist and a tinkerer. I’m fascinated not only by how things work but by how small levers can move mountains. Growing up in the workshop of my grandfather, an old Boston boatwright, I was mesmerized by the idea that a small rudder could maneuver a huge vessel. In college, I fell in love with how a small idea or expression could redirect a course of research or a country. As a self-taught maker of things, I appreciate how technologies empower us. I’ve chosen these books because they’re examples of how small ideas become things, lines of research, or patterns of thinking that shift human progress in unknowable ways.
I recommend The Inversion Factorbecause it’s a deep dive into the Internet of Things from some of the people who made the IoT possible: the geniuses at MIT.
The book’s take on commerce alone is fascinating, the idea that in the future, demand will be driven not by companies deciding what to make and sell but by a flow of consumer data coming from connected devices telling companies, “Here’s what you need to make next.”
Plus, the descriptions of the IoT home and services, tempered though they are by realities like the fact that self-driving cars aren’t very good yet at not running people over, are gripping. Great book.
Why companies need to move away from a “product first” orientation to pursuing innovation based on customer need.
In the past, companies found success with a product-first orientation; they made a thing that did a thing. The Inversion Factor explains why the companies of today and tomorrow will have to abandon the product-first orientation. Rather than asking “How do the products we make meet customer needs?” companies should ask “How can technology help us reimagine and fill a need?” Zipcar, for example, instead of developing another vehicle for moving people from point A to point B, reimagined how people interacted…
