ECON 4320. GAMES AND DECISION MAKING. 3 Hours.
Game theory studies the strategic interactions between two or more parties. These interactions are common in business, law, politics, and sports. Examples include analysis of "games" in the real world such as competition among firms, complex business decisions, and political campaigns. This course starts with the basics of game theory (such as Nash equilibrium and dominant strategies) and moves to more complicated games such as repeated and stochastic games, and auctions. The course includes in-class demonstrations, hands-on experiments, and real-world examples. Students will think analytically and frame strategic interactions by accessing the incentives of those involved through the tools discussed. Prerequisite: ECON 2306.