Undergraduate Course: Analytical Decision Making with Games (BUST10141)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course introduces game theory as analytical tools to decision-making problems in which multiple agents strategically interact with each other. With a special focus on the rigorous analyses of theoretical foundations, the course provides students with game-theoretic insights to various managerial and economic applications. |
| Course description |
This course introduces game theory as analytical tools to decision-making problems in which multiple agents strategically interact with each other. With a special focus on the rigorous analyses of theoretical foundations, the course provides students with game-theoretic insights to various managerial and economic applications. The applications covered include spatial competition, dynamic competition, decision on investment, partnership formation, beauty contest, segregation, collusion and altruistic behaviours, advertising, education and job market, bargaining, aircraft landing fees problems, assignment problems, minimum cost spanning problem, marriage problems, school choice problems, organ transplantation.
Topics to be covered include:
- Understanding strategic situations
- Knowledge, belief and equilibrium
- Dynamic games
- Moral hazard and Incentive design
- Behaviours with repeated interactions
- Games under incomplete information
- Bargaining and negotiation
- Coalitional games and collective decision-making
- Matching problems
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | There is no specific pre-requisite, but some basic background knowledge about mathematics and probability may be useful. |
Information for Visiting Students
| Pre-requisites | Visiting students must have at least 4 Business courses at grade B or above. This MUST INCLUDE at least one Decision Analytics course at intermediate level (BUST08039 Fundamentals of Programming for Business Applications is an example of an equivalent course). We will only consider University/College level courses. |
| High Demand Course? |
Yes |
Course Delivery Information
| Not being delivered |
Learning Outcomes
On completion of this course, the student will be able to:
- The student will be able to identify strategic situations in which different agents have conflicting incentives.
- The student will be able to analyze the consequences of strategic interactions on feasible outcomes and allocations.
- The student will be able to understand the role of the agents' belief and information in strategic situations.
- The student should be able to apply the game-theoretic knowledge and understanding into various decision-making problems in managerial and economic situations.
- The student should be able to identify the rationale of the assumptions behind game-theoretic models.
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Reading List
Recommended Textbooks:
1. Tadelis, Steve (2013) "Game theory : an introduction," Princeton University Press.
2. Watson, Joel (2012) ¿Strategy: An Introduction to Game Theory,¿ W.W. Norton.
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Additional Information
| Graduate Attributes and Skills |
Research & Enquiry:
On completion of the course, students should be able to:
- Understand how strategic situations can be formulated in game theory
- Understand some basic game-theoretic models to apply them to various practical situations
- Identify underlying assumptions of the theoretic models and critically evaluate their validity on applications
Personal & Intellectual Autonomy:
On completion of the course, students should be able to:
- Use the theoretical knowledge for better decision making
- Develop insights on strategic interactions and fairness in allocation problems
Communication skills
On completion of the course, students should be able to:
- Present the implications of formal/quantitative models to general audiences
- Use formal/quantitative models to elaborate strategic concerns in managerial and economic problems
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| Keywords | Game Theory,Decision Making |
Contacts
| Course organiser | Dr Joosung Lee
Tel: (0131 6)51 1375
Email: |
Course secretary | Ms Patricia Ward-Scaltsas
Tel: (0131 6)50 3823
Email: |
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