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EC-246 - Decisions & Games - 2024-25

The course EC 246: Decisions & Games at the Indian Institute of Management Calcutta is an elective MBA course focused on Decision Theory and Game Theory. It aims to equip students with skills in rational and strategic thinking, analytical problem-solving, and understanding strategic situations. The course includes various topics such as Nash Equilibrium, cooperation dilemmas, and negotiation strategies, with evaluations based on mid-term, classroom games, and end-term assessments.

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Vinayak Chaturvedi
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27 views3 pages

EC-246 - Decisions & Games - 2024-25

The course EC 246: Decisions & Games at the Indian Institute of Management Calcutta is an elective MBA course focused on Decision Theory and Game Theory. It aims to equip students with skills in rational and strategic thinking, analytical problem-solving, and understanding strategic situations. The course includes various topics such as Nash Equilibrium, cooperation dilemmas, and negotiation strategies, with evaluations based on mid-term, classroom games, and end-term assessments.

Uploaded by

Vinayak Chaturvedi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Indian Institute of Management Calcutta

Programme : MBA

Name of the Course: EC 246: DECISIONS & GAMES

Core / Elective: ELECTIVE Cap (for Elective): 100

Credit: 3

Academic Year & Term: 2024-25, TERM –V

Course Coordinator: ARIJIT SEN


Email: arijitsen@iimcal.ac.in

Instructor: ARIJIT SEN (Sessions 1 – 20)

Affiliation: IIMC

Email: arijitsen@iimcal.ac.in

Introduction to Course /Course Description


The course provides a rigorous introduction to Decision Theory and Game Theory.

Course Objective and Key-takeaways from the course


The course objective is to introduce students to the art and science of rational and strategic thinking.
The key takeaways from the course are (1) the ability to solve analytical decision theoretic problems, and (2) the ability
to understand and analyze strategic situations, to make rationalizable predictions of rival plays, and to best-respond to
rival strategies. Strategic scenarios incorporating static and dynamic cooperation dilemmas and coordination problems
are studied in details, under complete as well as incomplete information.

Course Level Learning Goal

To acquire capacity to apply professional knowledge and skills to diagnose and resolve business problems in actual
organizational settings.

International Components in your course (if any)

Rational and strategic thinking for all local and global business decisions.
Pre-requisites

Basic Calculus and Microeconomics

Course Texts

Instructor’s Lecture Notes on Game Theory


Joel Watson: Strategy - An Introduction to Game Theory (2nd edition)

Recommended Texts:

Thomas Schelling: The Strategy of Conflict;


Avinash Dixit & Barry Nalebuff: The Art of Strategy;
Adam Brandenburger & Barry Nalebuff: Co-opetition

Session Plan

S No. Topic Intended learning outcome References (READINGS FROM


`REQUIRED’ TEXT BOOK)
1 RUDIMENTS OF Utility maximization under Certainty Lecture Notes: Chapter 1
DECISION THEORY and Uncertainty Watson: Chapter 1

2. INTRODUCTION TO Ability to understand and represent Lecture Notes: Chapter 1


STRATEGIC GAMES games in normal and extensive forms Watson: Chapters 2, 3

3. NASH EQUILIBRIUM Understand the strengths and Lecture Notes: Chapter 2


weaknesses of the central equilibrium Watson: Chapter 9
concept in Game Theory

4. STRATEGY DOMINANCE Understand the implications of Lecture Notes: Chapter 3


& RATIONALIZABILITY rational introspection in strategic Watson: Chapter 7
situations

5. RATIONAL & Understand the biases between Lecture Notes: Chapter 3


BEHABIORAL ANALYSES rational and psychological behavior Watson: Chapter 6
OF GAMES in strategic situations

6. SUBGAME PERFECTION Understand the logic of backward Lecture Notes: Chapter 4


induction in multi-stage games Watson: Chapters 14, 15

7. FORWARD INDUCTION Understand the logic of forward Lecture Notes: Chapter 4


induction in multi-stage games Watson: Chapter 15
.
8. COOPERATION Understand cooperation dilemmas Lecture Notes: Chapter 5
DILEMMAS inherent in many strategic scenarios Watson: Chapters 6, 10

9. COORDINATION Understand problems of coordination Lecture Notes: Chapter 6


PROBLEMS dis-coordination, anti-coordination Watson: Chapter 11

10. STRATEGY Understand the logic of strategy Lecture Notes: Chapter 6


RANDOMIZATION randomization and of correlated Watson: Chapter 11
equilibria

11. REPEATED GAMES - I Understand the logic of stick-and- Lecture Notes: Chapter 7
carrot strategies in repeated games Watson: Chapter 22
12. REPEATED GAMES - II Understand the sustenance of tacit Lecture Notes: Chapter 7
collusion in repeated games Watson: Chapter 23

13. GAMES OF TIMING Understand the logic of strategic Lecture Notes: Chapter 8
deterrence and preemption Watson: Chapter 23

14. WARS OF ATTRITION Understand wars of attrition and Lecture Notes: Chapter 8
related dynamic games Watson: Chapter 23

.
15. STATIC GAMES OF Understand Bayesian Nash Equilibria Lecture Notes: Chapter 9
INCOMLETE in single-stage games of incomplete Watson: Chapters 26, 27
INFORMATION information

16. DYNAMIC GAMES OF Understand Perfect Bayesian Lecture Notes: Chapter 10


INCOMLETE Equilibria in multi-stage games of Watson: Chapter 28
INFORMATION incomplete information

17. SIGNALING GAMES Understand the logic of signaling and Lecture Notes: Chapter 10
interpreting strategic signals Watson: Chapter 29

18. STRATEGIC Understand the logic of strategic Lecture Notes: Chapter 10


INFORMATION transmission of information Watson: Chapter 29
TRANSMISSION

19. BARGAINING GAMES Understand the logic of fair Lecture Notes: Chapter 11
bargaining Watson: Chapters 18, 19

20. NEGOTIATIONS & HOLD Understand negotiation strategies and Lecture Notes: Chapter 11
UP how to mitigate hold-up problems Watson: Chapters 20, 21

Evaluation Components

 Components  Weightage

Mid-term 35%
Classroom Game 15%
Experiments
End-term 50%

Online Course Web:

→ All presentations made in class are uploaded on the course website.


→ Relevant readings and problem sets are uploaded after each class
Guidelines for and information about exams are uploaded before exams.

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