Industrial Engineer Engineering and Management Solutions at Work

November 2013    |    Volume: 45    |    Number: 11

The member magazine of the Institute of Industrial Engineers

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Systems Engineering by Ricardo Valerdi

Industrial Engineer's quarterly column about systems engineering (November 2013) 

Is game theory the new sabermetrics?

As another baseball season ends, we have an opportunity to reflect on the competitive advantages that might emerge in the offseason as teams determine which players to keep or trade. One recent hypothesis is that game theory – the study of mathematical models of conflict and cooperation between intelligent, rational decision makers – might be the new competitive advantage for baseball teams. Game theory has been around since the 1920s and was popularized by John von Neumann’s 1944 book Theory of Games and Economic Behavior and John Nash’s Nobel Prize-winning work in the 1950s.


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