Strategy and Game Theory for Management from Coursera

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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?

What's inside

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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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

Reviews summary

Strategy and game theory for managers

According to learners, this course offers an exceptionally clear and intuitive approach to game theory, making complex concepts highly accessible for those without a strong quantitative background. Students frequently highlight the practical applicability of the material, with many finding the real-world business examples and case studies immediately useful for enhancing their strategic thinking and optimal decision-making in management roles. While some find it an excellent introduction, a few with advanced economic backgrounds suggested it might lack sufficient quantitative depth, indicating its primary audience is managerial professionals seeking practical frameworks over theoretical rigor.

Overall well-structured, though some felt parts were rushed.

"A solid introduction to game theory for managers. The material is well-presented, and the examples are relevant. Some parts felt a bit rushed, especially in the later modules on uncertainty..."

"Very practical and well-paced. The modules flow logically."

Valuable for improving strategic thinking and decision-making in management.

"Truly enhanced my strategic thinking."

"This course is a must for anyone in management who wants to improve their decision-making skills."

"I learned a lot about how to apply game theory to business situations. The peer review assignment was a good way to apply what we learned."

Professor Pingali effectively simplifies complex game theory concepts.

"This course is incredibly well-structured and the instructor, Prof. Pingali, is exceptional."

"Professor Pingali is a fantastic lecturer. He breaks down complex ideas into understandable pieces."

"His way of explaining complex game theory concepts through real-world business examples made them very accessible."

Emphasizes an intuitive approach to game theory with direct business applications.

"The emphasis on intuition rather than heavy math was exactly what I needed. It clarified many strategic dilemmas I face daily."

"The practical applications are immediately useful for my management role."

"Hands down one of the best courses I've taken on strategy. The intuitive approach made it digestible and immediately applicable. The examples were so relevant."

Great for beginners, but some advanced learners desire more quantitative analysis.

"The course has good content, but it was a bit too basic for me. As someone with a background in economics, I found myself wanting more in-depth quantitative analysis."

"It's great for beginners, but not for advanced learners looking to deepen their mathematical understanding of game theory."

"While the professor is knowledgeable, I found the course lacked sufficient depth in some areas. It felt like a survey course rather than a deep dive."

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

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Ensure a strong foundation by reviewing the mathematical concepts essential for game theory, such as probability, statistics, and linear algebra.

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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

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Enhance your understanding by organizing and reviewing key course materials, including lecture notes, readings, and assignments.

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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

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Supplement your learning by exploring online tutorials that provide interactive and engaging explanations of game theory concepts.

Browse courses on Game Theory

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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.

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Read Thinking Strategically

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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

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Sharpen your analytical skills by solving a variety of game theory practice problems.

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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

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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

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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

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Apply your understanding of game theory by creating a model that analyzes a specific business or social situation.

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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

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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.

Career center

Learners who complete Strategy and Game Theory for Management will develop knowledge and skills that may be useful to these careers:

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Strategy and Game Theory for Management

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Strategy and game theory for managers

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