Game Theory: How to practically apply theory to make better decisions

Course Description

This course is all about game theory, the study of mathematical models of strategic interactions. Every day a new concept of game theory will be covered. First the concept will be taught s a theory. Following theory, students will have an opportunity to apply their newfound knowledge in strategic simulations otherwise known as games, all about interacting with others and making decisions. Each game will offer various incentive structures for both team and the overall group performance, in terms of Swirsky Bucks, a currency that will be used in an auction on the final day of class. These competing private versus larger group inceptives mirroring the often opposing incentives of real life (think of the monetary gain of a private company building a polluting factory versus the negative externalities faced by everyone, caused by environmental damage). Once the strategic simulations are completed, team and overall group performance will be analyzed, and students will have an opportunity to reflect on what they learned. Each class will end with concrete practical applications for each new concept taught that students can start using that very day!

Concepts taught will range Nash equilibriums and the shadow of the future, in the form of the prisoners dilemma, to the tragedy of the commons and the concept of comparative advantage to name a few. No prior knowledge is required, and anyone interested is encouraged to apply for the course!