Game theory, however, deals only with the way in which ultrasmart, all knowing people should behave in competitive situations, and has little to say to Mr. X as he confronts the morass of his problem.

The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.

A final word of advice: don't gloat about how well you have done.

There is no shortage of disputes.

A mediator is an impartial outsider who tries to aid the negotiators in their quest to find a compromise agreement.

The art of compromise centers on the willingness to give up something in order to get something else in return. Successful artists get more than they give up.

Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.