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Strategy and Game Theory for Management

Prof. Viswanath Pingali

SPECIAL LAUNCH PRICE TILL 15th AUGUST: 1499 INR in India, 29$ Rest of the World

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SPECIAL LAUNCH PRICE TILL 15th AUGUST: 1499 INR in India, 29$ Rest of the World

Game theory explores the art of how people make decisions in situations where their choices affect each other. Learn core game theory frameworks through practical application-based learning to transform your and your organization’s performance. With the increasing complexity of today’s world, game theory offers valuable frameworks and tools to navigate uncertainty and establish scientific rigor for strategy. Today, game theory has applications across businesses (advertising, digital markets, mergers and acquisitions, cartels, innovation etc.) along with policy.

This course on game theory is developed based on courses being offered at IIMA for the past several years by Prof Viswanath Pingali, an award-winning faculty member at IIMA.

This course emphasizes an intuitive approach to game theory rather than focusing on quantitative techniques. This course helps you acquire a competitive edge through enhanced strategic thinking, structured problem-solving, and optimal decision-making in complex situations., The course also discusses behavioral economics insights, where applicable.

We try and answer a few questions (not exclusive):

(1) Why do price wars happen?

(2) What is the problem of commons, and what are its implications for the climate change debate?

(3) How do modern businesses operate and what are some implications?

(4) Why is culture at firms and economies so difficult to change?

(5) What is the unicorn mania that is dominating today’s conversation?

(6) Why did some companies offer much larger warranty than the market norm?

(7) Why is winning risky in markets with uncertainty and how could information asymmetry lead to

market failure?

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Syllabus

Week 1: Why People Don't Cooperate?
This module aims to introduce you to the game theory course. It introduces you to some real-life questions that you can solve by using the concepts we will learn over the course. Following this, the course introduces you to the idea of a game and to some simple games. Subsequently, the module explores the most famous game in game theory: Prisoners’ Dilemma, where smart people find no incentive to cooperate with each other. The module further explores some real-life examples of prisoners’ dilemma. All learning components will be updated upon the official launch of the course
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Week 2: Nash Equilibrium
This module introduces you to the famous concept of Nash Equilibrium. What do you do when there is no Dominant Strategy or Dominated Strategies? Where do thought processes converge? This module further explores several interesting phenomena like Stag Hunt, Battle of Sexes, and Hawk Dove Games. We will explore why some inefficient outcomes happen despite all the players knowing that they are suboptimal. We will also explore questions like whether equilibrium means efficient. All learning components will be updated upon the official launch of the course
Week 3: Sequential Games
This module introduces you to the games that are sequential in nature. That is, we look at the cases where players alternate in their moves. Further, there are cases where games repeat themselves. We will look further at when we can expect competitors to cooperate in a prisoners’ dilemma situation. We will also explore some interesting games such as the ultimatum game and the trust game. All learning components will be updated upon the official launch of the course
Week 4: Games when there is Uncertainty in Information
Often, full information is not available, especially regarding the other players. In this module, we will look at scenarios with partial information. We will explore several interesting applications of such games and look into concepts like winners’ curse and adverse selection. We will also explore the link between biology and game theory All learning components will be updated upon the official launch of the course
Peer Review Assignment

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Provides a strong foundation for learners who wish to become familiar with the fundamental concepts and applications of game theory
Focuses on practical application-based learning
Taught by Professor Viswanath Pingali, an award-winning faculty member at IIM Ahmedabad
Explores a wide range of real-life applications of game theory across businesses, policy, and economics
Utilizes a multi-modal approach with videos, readings, discussions, and hands-on exercises

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Strategy and Game Theory for Management with these activities:
Review Mathematics Prerequisites
Ensure a strong foundation by reviewing the mathematical concepts essential for game theory, such as probability, statistics, and linear algebra.
Browse courses on Mathematics
Show steps
  • Identify the specific mathematical topics required for the course.
  • Review textbooks, online resources, or attend preparatory workshops.
  • Solve practice problems to test your understanding and identify areas for improvement.
Organize and Review Course Materials
Enhance your understanding by organizing and reviewing key course materials, including lecture notes, readings, and assignments.
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Show steps
  • Gather and organize all relevant course materials in one location.
  • Review the materials thoroughly, identifying key concepts and insights.
  • Summarize and consolidate the information to improve retention.
Follow Online Tutorials on Game Theory Concepts
Supplement your learning by exploring online tutorials that provide interactive and engaging explanations of game theory concepts.
Browse courses on Game Theory
Show steps
  • Identify reputable online platforms and resources that offer game theory tutorials.
  • Choose tutorials that align with your learning objectives and skill level.
  • Follow the tutorials, taking notes and actively engaging with the material.
Six other activities
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Read Thinking Strategically
Enhance your understanding of game theory strategies by reading this widely acclaimed book.
View The Art of Strategy: A Game Theorist's Guide to... on Amazon
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  • Purchase the book or borrow it from a library.
  • Read the book thoroughly, taking notes on key concepts and examples.
  • Summarize the main principles and their applications in game theory.
Solve Game Theory Practice Problems
Sharpen your analytical skills by solving a variety of game theory practice problems.
Browse courses on Game Theory
Show steps
  • Gather practice problems from textbooks, online resources, or previous assessments.
  • Work through the problems methodically, applying game theory concepts.
  • Check your solutions against provided answers or consult with a tutor for guidance.
Participate in Online Game Theory Discussion Groups
Engage with fellow learners in online discussions to deepen your understanding of game theory concepts.
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  • Join online forums or discussion groups dedicated to game theory.
  • Actively participate in discussions, sharing insights and perspectives.
  • Analyze and respond to the ideas and arguments presented by others.
Develop a Case Study Analysis on Game Theory Applications
Apply game theory principles to real-world scenarios by conducting a comprehensive case study analysis.
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  • Identify a specific business or industry where game theory has been applied.
  • Gather relevant data and information about the case.
  • Analyze the case using game theory concepts and frameworks.
  • Write a report summarizing your analysis and insights.
Design a Game Theory Model for a Business or Social Situation
Apply your understanding of game theory by creating a model that analyzes a specific business or social situation.
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Show steps
  • Identify a real-world scenario where game theory can provide valuable insights.
  • Develop a game theoretic model that captures the key elements and interactions of the situation.
  • Analyze the model to derive predictions and recommendations.
  • Present your findings and justify your conclusions.
Contribute to Game Theory Open Source Projects
Engage with the broader game theory community by contributing to open-source projects, such as libraries, tools, or datasets.
Browse courses on Game Theory
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  • Identify open-source projects related to game theory that align with your interests.
  • Review the project documentation and codebase to understand its purpose and architecture.
  • Identify areas where you can contribute, such as bug fixes, feature enhancements, or documentation improvements.
  • Submit your contributions for review and merge into the project.

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Course image
Effort
5 weeks of study, 5-6 hours/week
Level
Intermediate
Via
Coursera
Institution
IIMA - IIM Ahmedabad
Instructor
Prof. Viswanath Pingali
Session
August 5, 2024 - September 16, 2024
Language
English
Good to know
Provides a strong foundation for learners who wish to become familiar with the fundamental concepts and applications of game theory
Focuses on practical application-based learning
Taught by Professor Viswanath Pingali, an award-winning faculty member at IIM Ahmedabad
Explores a wide range of real-life applications of game theory across businesses, policy, and economics
Utilizes a multi-modal approach with videos, readings, discussions, and hands-on exercises
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