An Introduction to Game Theory to Understand Organisational Strategy and Public Policy
Netherlands, Maastricht
| Study location | Netherlands, Maastricht |
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| Type | Summer Courses, Full-time |
| Nominal duration | 2 weeks (4 ECTS) |
| Study language | English |
| Tuition fee | €599 one-time |
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| Entry qualification | Enrolled as an Undergraduate student or Undergraduate diploma This course is open without specific prerequisites, though enrolment is encouraged for those who have completed at least their second year of undergraduate studies. Third-year bachelor’s students, as well as master’s and Doctoral students, are welcome to join. As mentioned earlier, this would be a unique opportunity for those without a background in mathematics or economics to understand the principles of game theory and learn to apply them to understand strategic problems or conflicts. The entry qualification documents are accepted in the following languages: English. Often you can get a suitable transcript from your school. If this is not the case, you will need official translations along with verified copies of the original. |
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| Language requirements | English The language of the course is English, so we expect a fluent level and the ability to follow and participate in class. |
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| More information |
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Overview
Course Description
Game theory is employed to analyse conflict situations, recognize guiding principles that determine stable outcomes, and identify ways in which certain responses may be induced. Rooted in philosophy, economics, and mathematics, the science of game theory is increasingly finding applications in management and politics, becoming integral to decision-making and policy formulation.
The objective of this course is to introduce students to the approach, concepts, and methodology of game theory using simple puzzles compiled over nearly two decades of teaching game theory, along with articles from reputable newspapers (e.g., The New York Times) addressing contemporary societal problems.
Through working on such puzzles, students will gain practice with examples, enabling them to analyse real-world problems described in articles with game-theoretic tools. The originality of this course is that the application of abstract concepts shrouded in complex mathematics will be demystified using cartoons, newspaper texts and simple puzzles.
Thus, this would be a unique opportunity for those without a background in mathematics or economics to understand the principles of game theory and learn to apply them in understanding strategic problems or conflicts, with logic at the centre of all analysis.
Goals
• Recognize whether a context is a decision or a game.
• Represent the ‘game’ in any strategic situation.
• Predict whether a stable solution is possible in a strategic interaction.
• Recognize certain paradigms of conflict situations.
• Understand the built-in pitfalls and advantages of certain bargaining processes.
• Be able to identify and understand the role incentives play in contracts.
• Understand the role of information and how it is used strategically.
• Develop a better understanding of the game’s firms, governments, other intermediaries, consumers, and citizens play in our society and the challenges for sustainable development.
Recommended Literature
[1]. Thinking strategically: The competitive edge in Business, politics and everyday life by Avinash Dixit and Barry Nalebuff, W.W.Norton and Company, 1991.
[2] Games of strategy by Avinash K. Dixit, Susan Skeath, David H. Reiley, David Reiley, W. W. Norton & Company, 2009
[3] The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life by Dixit, Avinash K., and Barry Nalebuff. WW Norton & Company, 2008.
[4] Outplayed: How Game Theory Is Used Against Us by David Lockwood Greenleaf Book Group, 2022.
[5] Introducing Game Theory: A Graphic Guide by Ivan Pastine (Author), Tuvana Pastine (Author), Tom Humberstone (Illustrator) Icon Books, 2017
Teaching Methods
Lectures, Work in Sub-groups, Assignments, Presentations , Research
Assessment Methods
Portfolio: ▪ Assignment ▪ Attendance ▪ Participation ▪ Presentation ▪ Take home exam
Course Coordinator
Shyama V. Ramani
Programme structure
Hybrid Lectures:
This course will be offered online and offline simultaneously. You can find the online version of the course here: maastricht.dreamapply.com/courses/course/296-introduction-game-theory-understand-organisational-strategy-and-public-policy—online
Content and Structure:
• Brief introduction to games vs. decisions.
• Introduction to simultaneous interaction.
• Introduction to sequential interaction.
• Strategizing under informational constraints.
• Designing contracts with incentives.
• Achieving cooperation under non-cooperative situations.