Applied Strategic Thinking: An Introduction to Game Theory - Einzelansicht

About the seminar

Interacting with other people is a cornerstone of life and the outcomes of many political, social and business decisions are determined by interactions with other parties. Strategic interactions where rational decision-makers gain an advantage from taking into the account possible actions of the other parties require strategic thinking. This seminar aims to provide a ‘toolkit’ that can be used to analyze conflicts and cooperation between rational decision-makers. Strategic thinking can be applied to almost anything: from a simple game of poker or dating advice to competition policies and business strategies.

This seminar is an introduction to game theory and strategic thinking. Game theory provides a framework for the analysis of strategic interactions and we illustrate its applications to a wide range of problems in business, economics and everyday life. The seminar will be based on the examples from business, sports, dating and popular culture. Moreover, various games will be played in the class throughout the sessions. The level of this seminar will be introductory and the presentation of the material will rely on logical and intuitive arguments.

Learning outcomes

• Better understanding of strategic thinking
• Basic game theory, including (but not limited to) best response, dominated strategies, mixed strategies, Nash Equilibrium, backwards induction and Bayesian updating.
  
  
• The ability to apply game theory to real world problems
  
  

Seminar Structure

We will first introduce basics game theory. Next, all participants will apply game theory to a real world case and write a term paper dealing with this case.

Course Materials

Dixit and Nalebuff (1991) Thinking Strategically, Norton

Plus other course material

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