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Game Theory and Decision Making

2021/2022
Учебный год
ENG
Обучение ведется на английском языке
6
Кредиты
Статус:
Курс обязательный
Когда читается:
2-й курс, 3, 4 модуль

Преподаватели

Course Syllabus

Abstract

Game theory is a framework for hypothetical social situations among competing players. In some respects, game theory is the science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting. The key pioneers of game theory were mathematicians John von Neumann and John Nash, as well as economist Oskar Morgenstern. You must be comfortable with mathematical thinking and rigorous arguments. Relatively little specific math is required; but you should be familiar with basic probability theory (for example, you should know what a conditional probability is), and some very light calculus would be helpful.
Learning Objectives

Learning Objectives

  • The goal of the course is to teach students the strategic way of thinking about behavior of rational agents, their strategies and decisions in an economy, business and life. Objectives of this course are: to introduce methods of the Game theory as tools in application and improving analytical and decision-making skills.
Expected Learning Outcomes

Expected Learning Outcomes

  • Acquirement of core competencies in the sphere of Game Theory.
  • Acquirement of necessary theoretical base and practical skills in the sphere of Game Theory.
  • Students' preparation for managerial, analytical, research and entrepreneurial roles in companies and organizations.
Course Contents

Course Contents

  • Basic concepts of game theory. Classification and description of games
    Definition of a game. Types of games. Solution of a game.
  • Static noncooperative games
    Finite games in normal form. Pareto
  • Dynamic games with perfect and imperfect information
    Finite game in extensive form. Subgame. Subgame perfect Nash equilibrium. Information sets. Games with imperfect information.
  • Repeated games
    Games repeated finitely. Games repeated infinitely. Discounting. The Folk Theorem
  • Cooperative games
    Cooperative game. Coalition. Coalition value function Symmetric players. Dummy players. Summation and splitting of games. Shapely value. CoreMajority games. Veto players. Null players. Shapely-Shubik index
  • Bankruptcy problem, Auctions
    Auctions. Mechanism design. Bankruptcy problem.
Assessment Elements

Assessment Elements

  • non-blocking Average score of weekly quizzes
  • non-blocking Test work #1
  • non-blocking Test work #2
  • non-blocking Test work #3
Interim Assessment

Interim Assessment

  • Interim assessment (4 module)
    0.25 * Average score of weekly quizzes + 0.25 * Test work #1 + 0.25 * Test work #2 + 0.25 * Test work #3
Bibliography

Bibliography

Recommended Core Bibliography

  • Games of strategy, Dixit, A.K., Skeath, S., 2015
  • The art of strategy : a game theorist's guide to success in business & life, Dixit, A. K., Nalebuff, B. J., 2008

Recommended Additional Bibliography

  • Playing for real : a text on game theory, Binmore, K., 2007