GBUS 8424 GAMES AND AUCTIONS

 

 

This course aims to sharpen the participants’ strategic thinking. It examines competitive situations from a diverse range of corporate activities in which performance depends on the interactions between a multiplicity of decision makers, including customers, suppliers, competitors, employees, managers, investors, and regulators. Students will develop a tool set for perceiving, analyzing, and shaping these interactions. Most of the tools have first been developed in economic game theory. Many key insights from game theory are intuitively compelling and fit literally on the back of an envelope. The course therefore emphasizes concepts and qualitative reasoning, rather than quantitative techniques. Case studies from different functional areas serve to provide students with a store of strategic insights and, under the guidance of analytical tools, to condition sound intuitive thinking that will carry over to new, unfamiliar problems. Computer simulations enable hands-on decision making and provide feedback on the effectiveness of personal rules of thumb for competitive interactions.

 

Academic course objectives:

 

·         Develop tools for thinking strategically about competitive interactions between multiple agents

·         Deepen competitive insights from First Year Decision Analysis and introduce advanced concepts

·         Cover efficient bidding in different auction formats with the auction module and the design of customized auction mechanisms to improve operations and managerial control

 

Elements of the course grade:

 

Class contribution                   50%

Individual paper/project          17%

In-class simulations                 33%