that you think that they are at playing games and so on.

你认为他们认为你在博弈时有多老练
This level of knowledge, these layers of knowledge,

这个是知识层面的问题了
lead to very different play in the game.

这些知识层面会导致不同的结果
And to make this more concrete,

再具体点说
if a firm is competing against a competitor it can be pretty sure,

如果一家公司在和它的竞争对手竞争
that competitor is a pretty sophisticated game player

可以肯定其竞争对手一定很老练
and knows that the firm is itself.

这家公司当然也很老练啦
If a firm is competing against a customer

如果一家公司在和客户博弈
let's say for a non-prime loan

比如发放说次级贷款
perhaps that assumption is not quite so safe.

可能假设不是那么完备
It matters in how we take games through to the real world,

把博弈理论运用到实际是很重要的
and we're going to see more of this as the term progresses.

本学期我们会不断学习类似的案例的