Game Theory and Strategic Decisions
Previously Known as DECS-452-0
PASS / NO CREDIT
Yes (may vary by section)
How does a decision-maker make good decisions in strategic situations - situations where outcomes depend on the choices of other purposeful individuals as well as one's own? Participants in this course will gain an understanding of how to use the concepts and tools of Game Theory to guide their decisions. Topics include backward induction and subgame perfection, collusion and competition, mixed strategies, credibility and commitment, negotiation and bargaining, information asymmetry, market entry, and bidding strategies in auctions. This course makes extensive use of individual and group experiments and discussion.