An Introduction to Game Theory

About

Game theory is employed to analyse conflict situations, recognize guiding principles that determine stable outcomes, and identify ways in which certain responses may be induced. Rooted in philosophy, economics, and mathematics, the science of game theory is increasingly finding applications in management and politics, becoming integral to decision-making and policy formulation.
The objective of this course is to introduce students to the approach, concepts, and methodology of game theory using simple puzzles compiled over nearly two decades of teaching game theory, along with articles from reputable newspapers (e.g., The New York Times) addressing contemporary societal problems.
Through working on such puzzles, students will gain practice with examples, enabling them to analyse real-world problems described in articles with game-theoretic tools. The originality of this course is that the application of abstract concepts shrouded in complex mathematics will be demystified using cartoons, newspaper texts and simple puzzles.
Thus, this would be a unique opportunity for those without a background in mathematics or economics to understand the principles of game theory and learn to apply them in understanding strategic problems or conflicts, with logic at the centre of all analysis.

Course leader

Shyama V. Ramani

Target group

This course is open without specific prerequisites, though enrolment is encouraged for those who have completed at least their second year of undergraduate studies. Third-year bachelor’s students, as well as master’s and Doctoral students, are welcome to join.

As mentioned earlier, this would be a unique opportunity for those without a background in mathematics or economics to understand the principles of game theory and learn to apply them to understand strategic problems or conflicts.

Course aim

• Recognize whether a context is a decision or a game.
• Represent the ‘game’ in any strategic situation.
• Predict whether a stable solution is possible in a strategic interaction.
• Recognize certain paradigms of conflict situations.
• Understand the built-in pitfalls and advantages of certain bargaining processes.
• Be able to identify and understand the role incentives play in contracts.
• Understand the role of information and how it is used strategically.
• Develop a better understanding of the game’s firms, governments, other intermediaries, consumers, and citizens play in our society and the challenges for sustainable development.

Fee info