ECO 340 Introduction to Game Theory and Strategy
This course studies how to reach optimal possible outcomes when several parties with conflicting interests interact in the market place. It provides tools to formally and systematically study situations of conflict where outcomes depend not just on one's decisions, but the decisions and actions of others as well. For instance, oligopolistic firms' simultaneous price decisions or optimal price strategy in more competitive markets can be addressed using strategic thinking and game theory. This course also studies situations in which market participants have incomplete information and must make purchasing decisions under asymmetric information. This upper-level elective course provides an introduction to game theory and its application in economics and business.
Credits
4
Offered
Every other spring.