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Regular version of the site
2019/2020

Welcome to Game Theory

Type: Optional course (faculty)
When: 3 module
Language: English
ECTS credits: 3
Contact hours: 2

Course Syllabus

Abstract

The purpose of the course "Welcome to Game Theory" is to introduce students to the basic ideas underlying the key concepts of game theory, such as equilibrium, rationality and cooperation. The course uses very little mathematics and it is ideal for those looking for a conceptual introduction to game theory.
Learning Objectives

Learning Objectives

  • understand the meaning of business competition, political campaigns, the struggle for the existence of animals and plants, etc.;
  • to view game theory as a kind of "game" in which people try to do their best against others;
  • form an idea of key concepts in game theory and try to outline informal basic ideas that are often hidden behind mathematical definitions
Expected Learning Outcomes

Expected Learning Outcomes

  • Analyze a wide range of social and economic problems using a single structure
  • Mastering the concept of rational decision-making (useful but not sufficient to provide guidelines). Motivated examples and some history of game theory
  • Digest the specifics of the basic concept of solving game theory-and central concept with the help of various examples.
  • Consider the Nash equilibrium and the prisoner's dilemma. Grasp the issues: Market competition Why do people come to play Nash equilibrium? Why do people come to play Nash equilibrium? Why do people come to play Nash equilibrium? Stylized facts and Nash equilibrium.
  • Analyse of the relationship between rationality and Nash equilibrium and the possible intellectual abilities of players, spanning the range from unlimited abilities for complex reasoning to absolutely zero intelligence.
  • Explains of the most important and General message of game theory: rational behaviour often leads to a socially undesirable outcome.
  • Control of the course's efficiency.
Course Contents

Course Contents

  • Theme 1.Why do we need game theory, and what does it tell us?
    Analysis of a wide range of social and economic problems using a single structure
  • Theme 2. The concept of rational decision-making
    Explaining the concept of rational decision making (useful but not sufficient to provide guidelines). Motivated examples and some history of game theory
  • Theme 3. The understanding of Nash equilibria
    Discussion of the specifics of the basic concept of solving game theory-Nash equilibrium. Understanding this Central concept with the help of various examples.
  • Theme 4. How players come to Nash equilibrium
    Discussion of the Nash equilibrium and the prisoner's dilemma. Market competition Stylized facts and Nash equilibrium.
  • Theme 5. Rationality, knowledge and evolution in games
    An effective and clear explanation of the relationship between rationality and Nash equilibrium. Consider the possible intellectual abilities of players, spanning the range from unlimited abilities for complex reasoning to absolutely zero intelligence.
  • Theme 6. Sustainable cooperation
    The main theme is to explain the most important and General message of game theory: rational behavior often leads to a socially undesirable outcome. The main reason for this, and then look at how this understanding of game theory has had a fundamental impact on the natural and social Sciences
  • Debates
    Final control is carried out by taking part in the debates. Before final grading the students must be got acquainted to the results of their participation in the debates.
Assessment Elements

Assessment Elements

  • non-blocking Test after the 1st week
  • non-blocking Test after the 2nd week
  • non-blocking Test after the 3rd week
  • non-blocking Test after the 4th week
  • non-blocking Test after the 5th week
  • non-blocking Test after the 6th week
  • non-blocking Debates
    Debates missed by a student for a good reason (illness, scientific or academic trip, participation in a conference, etc., documented to the training office), if agreed with the teacher, may not be taken into account and the weight will be redistributed to all elements of the online course control. The exam is conducted off-line. To participate in the exam, the student must appear according to the exact schedule. During the exam, it is forbidden to use notes and other tips, to leave the audience for both long and short periods.
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.1 * Debates + 0.15 * Test after the 1st week + 0.15 * Test after the 2nd week + 0.15 * Test after the 3rd week + 0.15 * Test after the 4th week + 0.15 * Test after the 5th week + 0.15 * Test after the 6th week
Bibliography

Bibliography

Recommended Core Bibliography

  • Gillman, R., & Housman, D. (2019). Game Theory : A Modeling Approach. Boca Raton: Chapman and Hall/CRC. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1896723

Recommended Additional Bibliography

  • Information Resources Management Association. (2018). Game Theory : Breakthroughs in Research and Practice. Hershey PA: Information Science Reference. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1540769