24 July 2013
Game theory is a popular subject and became a powerful tool for analyzing strategic interactions between
players or decision making units. Players are decision making units, e.g. individuals, firms, workers, managers,
Game theory describes strategic decision making processes. It analyzes situations in which players interact,
and suggests strategies and solutions that are based on profit or utility maximizing concepts.
Game theory is widely applied in management and social sciences, i.e., economics, political science,
marketing, psychology etc.
This course is a rather Applied Game Theory course and will concentrate on introducing the basic concepts
and applies those concepts to economics and business applications.
The course is will introduce the basic concepts of game theory and introduce several methods to solving
interactive decision problems. The concepts will be applied to economics and business relevant applications,
that relate to Firm Behavior in Markets and different types of Market Structures. Therefore, the game
theoretic decision making concepts will be applied to topics such as: Entry, R&D patent races, Mergers, Cartel,
Collusion, Advertisement, Auctions, Dynamic games, New Product Introduction.
EUR 0: Students on a bilateral exchange programme do not have to pay. Freemovers are obliged to pay participation fees while tuition fees only apply to freemovers from countries outside the EU/EEA/Switzerland.