Strategy and Game Theory for Management

Game theory explores the art of how people make decisions in situations where their choices affect each other. Learn core game theory frameworks through practical application-based learning to transform your and your organization’s performance. With the increasing complexity of today’s world, game theory offers valuable frameworks and tools to navigate uncertainty and establish scientific rigor for strategy. Today, game theory has applications across businesses (advertising, digital markets, mergers and acquisitions, cartels, innovation etc.) along with policy. This course on game theory is developed based on courses being offered at IIMA for the past several years by Prof Viswanath Pingali, an award-winning faculty member at IIMA. This course emphasizes an intuitive approach to game theory rather than focusing on quantitative techniques. This course helps you acquire a competitive edge through enhanced strategic thinking, structured problem-solving, and optimal decision-making in complex situations., The course also discusses behavioral economics insights, where applicable. We try and answer a few questions (not exclusive): (1) Why do price wars happen? (2) What is the problem of commons, and what are its implications for the climate change debate? (3) How do modern businesses operate and what are some implications? (4) Why is culture at firms and economies so difficult to change? (5) What is the unicorn mania that is dominating today’s conversation? (6) Why did some companies offer much larger warranty than the market norm? (7) Why is winning risky in markets with uncertainty and how could information asymmetry lead to market failure?