Applied Strategic Thinking: An Introduction to Game Theory

MWiWi-Seminar: Applied Strategic Thinking: An Introduction to Game Theory

Aimed at Master students of Business or Economics
Professor: Prof. W. Bönte
PhD Student: Dmitrii Galkin
Credits:

General Description:

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

Date

Tuesday, 14:00 - 16:00 (12.04. - 12.07.2022) Room: M.15.13

Moodle-Course: Applied Strategic Thinking: An Introduction to Game Theory SoSe 2022

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