Decision Models and Game Theory
- Credits: 8
- Ending: Examination
- Range: 16sP
- Semester: winter
- Faculty of Economic Informatics
Teachers
Included in study programs
Teaching results
In particular, students acquire the following abilities:
- knowledge of various conflict decision-making situations, types of conflicts, decision-making and the possibility of taking an equilibrium strategy in a conflict decision-making situation
- knowledge of a wide range of practical application of game theory models
Students acquire in particular the following skills:
- skills to analyze and solve conflicting decision-making situations
Students will acquire the following competencies:
- - practical skills and competencies with the application of optimization methods in the field of conflict decision-making situations, their analysis and solving
Indicative content
The course provides the student with the necessary knowledge to implement optimal decisions in conflict situations that occur in the practice of market economy as well as in the life of society. From the analysis of basic conflicts, we move on to the analysis of repeated and iterated conflicts. Possibilities of cooperation and analysis of the advantages of cooperative behavior of subjects are explored. Emphasis is placed on selected practical applications from various economic areas (area of imperfect competition, company location, logistics and others), but also other areas that directly influence the economic decision-making of subjects in areas (political science, international relations, sociology and others).
1, Game and decision theory, utility theory and related paradoxes
2, Two-player games in normal form, two-player games with constant and non-constant sum, basic differences and solutions, possibilities of software solving
3, Normal form games, cooperative solution, possibilities of software solving
4, Evolutionary algorithms for solving normal form games
5, Normal form games, various practical applications
6, Multiplayer games, cooperative and non-cooperative solution
7, Multiplayer games, voting games, demonstrations of various practical applications
8, Repeated games, repeated prisoner's dilemma, possibilities of software solving
9, Extensive form games, tree of game, examples of various practical applications
10, Decision making under risks and uncertainties, games against nature, examples of various practical applications
11, Multi-criteria games, examples of various practical applications
12, Evolutionary games, examples of various practical applications
13, Application of game theory in various fields (summarization)
Support literature
Gibbons, R. Game theory for applied economics. Princenton University Press, Princenton, 1992
Osborne, M. J. : An Introduction to Game Theory, Oxford University Press, 2004.
Dixit, A., Skeath, S. : Games of Strategy, W.W.Norton, 2004
Friedman, J. W.: Game Theory with Applications to Economics, Oxford University Press, 1991
Osborne, M., Rubinstein, A.: A Course in Game Theory, The MIT Press, 1997
Bierman, H. S., Fernandez, L.: Game Theory with Economic Applications, Addison-Wessley, 1988
Requirements to complete the course
40 % final paper and continuous testing
60 % final exam
Student workload
Total study load (in hours): 8 credits x 26 hours = 208 hours
Lectures participation: 16 hours
Preparation for lectures: 52 hours
Final paper preparation: 70 hours
Preparation for the final exam: 70 hours
Language whose command is required to complete the course
Slovak, English
Date of approval: 10.02.2023
Date of the latest change: 16.05.2022