GAME THEORY IN BUSINESS
Année du cours : 1 année(s)
Etablissement : IÉSEG School of Management
Langue : English
Formation(s) dans laquelle/lesquelles le cours apparait :
Période : S2
This is an advanced course and sutdents should have a good understanding of the basic functional courses like marketing, finance and operations. Students who sign up for this course, should also have, at the very least a basic knowledge of the key concepts of strategic management. The course requires considerable out of the box thinking and therefore a good grounding in rational thinking and a natural abilty to do extensive analysis will be a distinct advantage. It is imperative that they are willing, and able, to study (and then analyse) academic texts on their own. The ability to ask critical questions and to pursue independent work is essential for success in this course.
At the end of the course, the student should be able to:
• understand the role of game theory in developent of business strategies
• identify key issues and predict outcomes in rational situations
• structure business situations using game-theoretic models which could be used in the decision making process
• work through higher levels of complexity of thinking, analyzing and reasoning
• understand the dynamics of inter-firm interactions
• enhance their ability to think critically
• achieve AOL goals 5C, 5D and 6A
– Classification of games and use of game theory in business strategy
– Distinguishing games from decisions
– Exetnsive form games and rollback equilibrium
– Prisoners’ Dilemma
– Zero sum games
– Nash Equilibrium
– Commitment and Credibility
– Private and Public auctions
