Game theory is a field of study that helps us understand decision making in strategic situations. In addition to being an important methodology within the economics discipline, it also gives insights into pricing and management strategies used by a business. Furthermore, game theory has wide-ranging applications in areas such as international relations, political science and military strategy. Much of game theory involves the interaction of decision makers where there is an asymmetry of information. Thus, the study of game theory can provide insights into how decision makers act when there is some important information that they cannot directly observe.
|Faculty||Bond Business School|
1. Demonstrate an understanding of games in pure and mixed strategies.
2. Explain the game theoretic concepts of uncertainty, information and strategic moves.
3. Explain the characteristics and application of repeated games and associated trigger strategies.
4. Apply mechanism design to business applications such as pricing and project management.
5. Explain the various forms of game theoretic bargaining.
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
Assumed Prior Learning (or equivalent):
Possess demonstrable knowledge in algebra and calculus to the level of a unit such as STAT11-112 or STAT71-112.
|Withdraw – Financial?||13/02/2021|
|Withdraw – Academic?||06/03/2021|