040106 UK UK Decision and Game Theory (BA) (2023S)
Continuous assessment of course work
Labels
Studierende des Bachelorstudiums Betriebswirtschaft, welche die beiden Berufsfelder Banking and Finance und Ökonomie absolvieren,
können diesen Kurs anstelle der Kurse UK Entscheidungstheorie (4 ECTS) und eines Kurses aus Ökonometrie (8 ECTS) absolvieren.
Diese Regelung gilt nicht, wenn nur das Berufsfeld Banking and Finance absolviert wird.
In diesem Fall ist dieser Kurs nicht im Rahmen der Pflichtfächer des Moduls C1.4 Banking and Finance wählbar!
Für weitere Informationen siehe:
https://finance.univie.ac.at/studium/finanzwirtschaft-im-bachelor/information-fuer-studierende/
können diesen Kurs anstelle der Kurse UK Entscheidungstheorie (4 ECTS) und eines Kurses aus Ökonometrie (8 ECTS) absolvieren.
Diese Regelung gilt nicht, wenn nur das Berufsfeld Banking and Finance absolviert wird.
In diesem Fall ist dieser Kurs nicht im Rahmen der Pflichtfächer des Moduls C1.4 Banking and Finance wählbar!
Für weitere Informationen siehe:
https://finance.univie.ac.at/studium/finanzwirtschaft-im-bachelor/information-fuer-studierende/
Registration/Deregistration
Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
- Registration is open from Mo 13.02.2023 09:00 to We 22.02.2023 12:00
- Deregistration possible until Fr 17.03.2023 23:59
Details
max. 120 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
- Wednesday 01.03. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 02.03. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 03.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 08.03. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 09.03. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Friday 10.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 14.03. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 15.03. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 16.03. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 17.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 22.03. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 23.03. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 24.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 29.03. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 30.03. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 31.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 19.04. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 20.04. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 21.04. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 26.04. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 28.04. 08:00 - 09:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Wednesday 03.05. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 04.05. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 05.05. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 10.05. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 11.05. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 12.05. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 17.05. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 19.05. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 24.05. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 25.05. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 26.05. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 31.05. 15:00 - 16:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 31.05. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 01.06. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 02.06. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 07.06. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 09.06. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 14.06. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 15.06. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 16.06. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 21.06. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Thursday 22.06. 16:45 - 18:15 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Friday 23.06. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 28.06. 18:30 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
Information
Aims, contents and method of the course
Assessment and permitted materials
Your grade in the course will be based on your participation in the in-class experiments, your marks in a midterm test and a final exam.- In-Class Experiments:
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will be held on Thursday April 27, 4.45pm -- 6.15pm in OMP, HS1. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will be held on Thursday June 29, 4.45pm -- 6.15pm in OMP, HS1. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will be held on Thursday April 27, 4.45pm -- 6.15pm in OMP, HS1. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will be held on Thursday June 29, 4.45pm -- 6.15pm in OMP, HS1. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.
Minimum requirements and assessment criteria
Students are required to have taken Microeconomics for Students of Economics.
Examination topics
In this course, we cover the following topics:
- Decisions under uncertainty
- Strategic games and Nash equilibrium
- Cournot’s and Bertrand’s models of duopoly
- Hotelling’s model of electoral competition and the citizen-candidate model
- Mixed strategy Nash equilibrium, with applications
- Dominated strategies and iterated elimination of dominated strategies and common knowledge of rationality
- Strategic games with imperfect information and auctions
- Extensive games and subgame perfect equilibrium
- Ultimatum game and holdup game
- Repeated games and collusion in repeated duopoly
- Extensive games with imperfect information and signaling games
- Decisions under uncertainty
- Strategic games and Nash equilibrium
- Cournot’s and Bertrand’s models of duopoly
- Hotelling’s model of electoral competition and the citizen-candidate model
- Mixed strategy Nash equilibrium, with applications
- Dominated strategies and iterated elimination of dominated strategies and common knowledge of rationality
- Strategic games with imperfect information and auctions
- Extensive games and subgame perfect equilibrium
- Ultimatum game and holdup game
- Repeated games and collusion in repeated duopoly
- Extensive games with imperfect information and signaling games
Reading list
The main reference for the course material should always be the lecture notes (available on Moodle).
I know of no book that fits the course perfectly. Although the level of some parts is a bit higher than the level of the course, I will refer you a lot to the following book: Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, New York, 2003.Another book that covers some, but not all of the topics in the course, at approximately the same level, is Robert Gibbons, Game Theory for Applied Economists, Princeton University Press, 1992.Additional literature and suggested reading:
- Avinash K. Dixit, Susan Skeath,and David Reiley, Games of Strategy, 3rd edition (W.W. Norton and Company, 2010).
- Charles A. Holt, Market, Games & Strategic Behavior (Addison Wesley, 2006.)
- Avinash K. Dixit and Barry J. Nalebuff, Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life (W. W. Norton & Company, 1993)
- Adam C. Brandenburger and Barry J. Nalebuff, Co-Opetition: A Revolution Mindset That Combines Competition and Cooperation: The Game Theory Strategy That's Changing the Game of Business (Doubleday Business, 1994).
- Tim Harford, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car! (Random House, 2007)
I know of no book that fits the course perfectly. Although the level of some parts is a bit higher than the level of the course, I will refer you a lot to the following book: Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, New York, 2003.Another book that covers some, but not all of the topics in the course, at approximately the same level, is Robert Gibbons, Game Theory for Applied Economists, Princeton University Press, 1992.Additional literature and suggested reading:
- Avinash K. Dixit, Susan Skeath,and David Reiley, Games of Strategy, 3rd edition (W.W. Norton and Company, 2010).
- Charles A. Holt, Market, Games & Strategic Behavior (Addison Wesley, 2006.)
- Avinash K. Dixit and Barry J. Nalebuff, Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life (W. W. Norton & Company, 1993)
- Adam C. Brandenburger and Barry J. Nalebuff, Co-Opetition: A Revolution Mindset That Combines Competition and Cooperation: The Game Theory Strategy That's Changing the Game of Business (Doubleday Business, 1994).
- Tim Harford, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car! (Random House, 2007)
Association in the course directory
Last modified: Fr 23.06.2023 11:26
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will be held on Thursday April 27, 4.45pm -- 6.15pm in OMP, HS1. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will be held on Thursday June 29, 4.45pm -- 6.15pm in OMP, HS1. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.CONTENT: This course builds upon and extends the required second-year microeconomics course (040102 UK). It goes beyond the study of simple choices by consumers and firms by exploring how economic agents make decisions in more complex environments.In decision theory we will study the behaviour of individual agents facing uncertainty. For instance, investors need to choose how to invest when they don't know whether stock markets will produce positive or negative returns, firms need to decide how much quantity to produce when they don't know whether a recession is coming or not.Game theory studies the behaviour of agents who interact with other agents. For example, firms decide whether to enter a new market by anticipating how their competitors will react. Workers decide how to cooperate with others by anticipating how this will affect their reputations.All theoretical concepts will be discussed in the context of many different applications.