B6838 Game Theory
Instructor Brand: Title: Tel: Email: Crescendo Faculty David Cheung Video game Theory (Semester 1, Complete course, Simply no final in-class exam) (65) 9022 4161 david. [email protected] edu. sg
COURSE DESCRIPTION Game theory provides managers a structured and coherent way of making better strategic decisions in an environment where execute of competition is often unsure. This course uses cases to supply both the conceptual foundations of game theory and applications to business. This course does apply tools coming from microeconomics, industrial organization, company economics and game-theoretic examination to competitive decision making. The emphasis is usually on the application of these ideas to organization situations and strategy preparations. It also is exploring the identification and evaluation of archetypal strategic conditions frequently occurring in game theory circumstances (bargaining, disputes and settlement. ) The course can be divided in two parts. The 1st part concentrates on business unit and corporate technique. The second part focuses on learning the foundational theory and putting on Game Theory. It presents tools to understand industry economics and the determinants of industry-wide matrix; it then studies the determinants of the individual firm's technique and earnings, focusing on positional, strategical, and organizational feature. Game theory will be deployed to examine competitive connections when the range of players is small and the industry is being shaped by the interactions among these players. This tool can be used to analyze concerns such as negotiating power, price competition, entry and exit decisions, normal setting and technological competition.
HIGHLIGHTS and COURSE STRUCTURE: The training course is intensely based on course participations, case discussions and knowledge sharing from skillfully developed. These guest speakers consist of, but not limited to, CEO of major banking institutions, strategists of worldwide corporations, older management of Asia-Pacific local players, and consultants of major organizations. Students will without doubt gain " insiderвЂќ and " firstвЂќ experience and discussions via these guests speakers. Many class sessions will contain both " hands-onвЂќ activities in organized strategic situations as well as classes about the idea underlying these situations. Discussion relating experiences in organised setting to both theory and practice are an essential aspect of the course.
LEARNING AIMS: By the end with this course, college students will be able to: (a) Know the simple concepts of game theory, and how these types of concepts have been applied to organization; (b) Assess and apply game-theoretic analysis, both officially and intuitively, to discussion and bargaining situations; (c) Recognize and assess these concepts and situations in complicated discussion settings; (d) Understand active view of strategy and able to produce decisions associated with pricing, signaling, capacity growth, commitment, popularity, and admittance deterrence; (e) Feel comfortable at the same time of settlement and; (f) Make professional choices with assorted job industries
ASSESSMENT STRATEGIES Class Activity / Involvement Group case-study Mid-term Group effort (10%) Mid-term Presentation (25%) Final case (case study - Take home) 40% 35%
GROUP JOB The goal of the group job is to choose your study group debate after which take a crystal clear position with an issue, usually the central question of the watch case, support your position, and take note any concerns or potential problems in a group. It is not necessarily allowed to spend a case to one student after which not have the group debate and make a decision on the content. Most students in the group are responsible for what is in the write-up and may be asked to explain that.
MIDTERM The format in the midterm write-up consists of three or more parts: 1 . Summary as well as recommendation 2 . Supporting argument 3. Issues and caveats Your demonstration / posting has to start with (1) a clear cut issue in question form, such as...