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040243 VO Decision and Game Theory (MA) (2017W)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften

Details

Language: English

Examination dates

Lecturers

Classes (iCal) - next class is marked with N

Thursday 05.10. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 12.10. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 19.10. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 09.11. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 16.11. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 30.11. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 07.12. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 14.12. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 11.01. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 18.01. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Thursday 25.01. 09:45 - 11:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock

Information

Aims, contents and method of the course

This course provides an Introduction to Decision and Game Theory. The language of Instruction is English. Decision Theory provides a formal account of individual choices in environments with Risk and Uncertainty. Therefore, a good understanding of Decision Theory is useful in various areas of Business Administration including (but not limited to) Operations Research, General Management and Finance. Game Theory provides an analysis of individual decision-making in strategic environments (i.e. environments in which the payoffs of different alternatives depend on the choices of others). A paramount example of such situation is the market in which a firm operates. Game Theory is related to various areas like Operations Research, Strategy, Marketing, etc.

Assessment and permitted materials

Students have to register to take part in the Final Exam. There will be 4 distinct dates during the calendar year (January, March, June, September).
Passing grade is 50%.

Minimum requirements and assessment criteria

Examination topics

I. Decision Theory
1. Introduction to Decision Theory and Rationality.
2. Expected Utility and its Paradoxes.
3. Risk
4. Uncertainty.

II Game Theory
1. Introduction and Basic Concepts.
2. Dominant Strategies.
3. Beliefs about others' play. Alternative Models
3. Nash Equilibrium.
4. Non Credible Threats and Backwards Induction

Reading list

For Decision Theory we shall use Peterson (An Introduction to Decision Theory, Chapters 1-5, 10), which provides a good starting point and we shall also use Binmore's Rational Decisions and Gilboa's Rational Choice.
Tadelis' Game Theory also includes a brief recap of Decision Theory.
For the Game Theory part The main reference is Tadelis' Game Theory book. In addition, Osborne's Game Theory is also useful. More advanced readings are Osborne-Rubinstein (A Course in Game Theory) and Myerson's Game Theory books.

Association in the course directory

Last modified: Mo 07.09.2020 15:29