Warning! The directory is not yet complete and will be amended until the beginning of the term.
040106 UK UK Decision and Game Theory (BA) (2025S)
Continuous assessment of course work
Labels
ON-SITE
Studierende des Bachelorstudiums Betriebswirtschaft, welche die beiden Berufsfelder Banking and Finance und Ökonomie absolvieren,
können diesen Kurs anstelle der Kurse UK Entscheidungstheorie (4 ECTS) und eines Kurses aus Ökonometrie (8 ECTS) absolvieren.
Diese Regelung gilt nicht, wenn nur das Berufsfeld Banking and Finance absolviert wird.
In diesem Fall ist dieser Kurs nicht im Rahmen der Pflichtfächer des Moduls C1.4 Banking and Finance wählbar!
Für weitere Informationen siehe:
https://finance.univie.ac.at/studium/finanzwirtschaft-im-bachelor/information-fuer-studierende/
können diesen Kurs anstelle der Kurse UK Entscheidungstheorie (4 ECTS) und eines Kurses aus Ökonometrie (8 ECTS) absolvieren.
Diese Regelung gilt nicht, wenn nur das Berufsfeld Banking and Finance absolviert wird.
In diesem Fall ist dieser Kurs nicht im Rahmen der Pflichtfächer des Moduls C1.4 Banking and Finance wählbar!
Für weitere Informationen siehe:
https://finance.univie.ac.at/studium/finanzwirtschaft-im-bachelor/information-fuer-studierende/
Details
max. 120 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
- N Wednesday 05.03. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 06.03. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 11.03. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 13.03. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 18.03. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 19.03. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 20.03. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 25.03. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 26.03. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 27.03. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Monday 31.03. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Wednesday 02.04. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 03.04. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 08.04. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 09.04. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 10.04. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 29.04. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 30.04. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 07.05. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 08.05. 18:30 - 20:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
- Tuesday 13.05. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 14.05. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 15.05. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 20.05. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 21.05. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 22.05. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 27.05. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 28.05. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Tuesday 03.06. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 04.06. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 05.06. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 10.06. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 11.06. 18:30 - 20:00 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 12.06. 18:30 - 20:00 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
- Tuesday 17.06. 16:45 - 18:15 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 18.06. 18:30 - 20:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
Information
Aims, contents and method of the course
Assessment and permitted materials
Your grade in the course will be based on your participation in the in-class experiments, your marks in a midterm test and a final exam.- In-Class Experiments:
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will likely be held on Thursday May 8, 6:30pm-8:00pm. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will likely be held on Thursday June 18, 6:30pm-8:00pm. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will likely be held on Thursday May 8, 6:30pm-8:00pm. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will likely be held on Thursday June 18, 6:30pm-8:00pm. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.
Minimum requirements and assessment criteria
Students are required to have taken Microeconomics for Students of Economics.
Examination topics
In this course, we cover the following topics:
- Decisions under uncertainty
- Strategic games and Nash equilibrium
- Cournot’s and Bertrand’s models of duopoly
- Hotelling’s model of electoral competition and the citizen-candidate model
- Mixed strategy Nash equilibrium, with applications
- Dominated strategies and iterated elimination of dominated strategies and common knowledge of rationality
- Strategic games with imperfect information and auctions
- Extensive games and subgame perfect equilibrium
- Ultimatum game and holdup game
- Repeated games and collusion in repeated duopoly
- Extensive games with imperfect information and signaling games
- Decisions under uncertainty
- Strategic games and Nash equilibrium
- Cournot’s and Bertrand’s models of duopoly
- Hotelling’s model of electoral competition and the citizen-candidate model
- Mixed strategy Nash equilibrium, with applications
- Dominated strategies and iterated elimination of dominated strategies and common knowledge of rationality
- Strategic games with imperfect information and auctions
- Extensive games and subgame perfect equilibrium
- Ultimatum game and holdup game
- Repeated games and collusion in repeated duopoly
- Extensive games with imperfect information and signaling games
Reading list
The main reference for the course material should always be the lecture notes (available on Moodle).
I know of no book that fits the course perfectly. Although the level of some parts is a bit higher than the level of the course, I will refer you a lot to the following book: Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, New York, 2003.Another book that covers some, but not all of the topics in the course, at approximately the same level, is Robert Gibbons, Game Theory for Applied Economists, Princeton University Press, 1992.Additional literature and suggested reading:
- Avinash K. Dixit, Susan Skeath,and David Reiley, Games of Strategy, 3rd edition (W.W. Norton and Company, 2010).
- Charles A. Holt, Market, Games & Strategic Behavior (Addison Wesley, 2006.)
- Avinash K. Dixit and Barry J. Nalebuff, Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life (W. W. Norton & Company, 1993)
- Adam C. Brandenburger and Barry J. Nalebuff, Co-Opetition: A Revolution Mindset That Combines Competition and Cooperation: The Game Theory Strategy That's Changing the Game of Business (Doubleday Business, 1994).
- Tim Harford, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car! (Random House, 2007)
I know of no book that fits the course perfectly. Although the level of some parts is a bit higher than the level of the course, I will refer you a lot to the following book: Martin J. Osborne, An Introduction to Game Theory, Oxford University Press, New York, 2003.Another book that covers some, but not all of the topics in the course, at approximately the same level, is Robert Gibbons, Game Theory for Applied Economists, Princeton University Press, 1992.Additional literature and suggested reading:
- Avinash K. Dixit, Susan Skeath,and David Reiley, Games of Strategy, 3rd edition (W.W. Norton and Company, 2010).
- Charles A. Holt, Market, Games & Strategic Behavior (Addison Wesley, 2006.)
- Avinash K. Dixit and Barry J. Nalebuff, Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life (W. W. Norton & Company, 1993)
- Adam C. Brandenburger and Barry J. Nalebuff, Co-Opetition: A Revolution Mindset That Combines Competition and Cooperation: The Game Theory Strategy That's Changing the Game of Business (Doubleday Business, 1994).
- Tim Harford, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car! (Random House, 2007)
Association in the course directory
Last modified: Th 16.01.2025 11:25
Active and regular participation in each in-class experiment will receive a weight of 20% in the final grade. These experiments will usually be conducted during lecture time. You are encouraged to bring your personal laptop to the lectures, however, smartphones also work.
At the end of the session, students will automatically receive a participation grade for two in-class experiments.- Midterm Test:
The midterm test will likely be held on Thursday May 8, 6:30pm-8:00pm. The test will receive a weight of 35% in the final grade.- Final Exam:
The final exam will receive a weight of 45% in the final grade. The final exam will likely be held on Thursday June 18, 6:30pm-8:00pm. It will cover the entire term's work. Much of the material in the second half of the course builds on the material in the first half, so it is difficult to say exactly how much of the exam relates to each part of the course. However, probably between a quarter and a third of the points on the final exam will be for problems that could be answered on the basis of the material in the first half of the course alone.CONTENT: This course builds upon and extends the required second-year microeconomics course (040102 UK). It goes beyond the study of simple choices by consumers and firms by exploring how economic agents make decisions in more complex environments.In decision theory we will study the behaviour of individual agents facing uncertainty. For instance, investors need to choose how to invest when they don't know whether stock markets will produce positive or negative returns, firms need to decide how much quantity to produce when they don't know whether a recession is coming or not.Game theory studies the behaviour of agents who interact with other agents. For example, firms decide whether to enter a new market by anticipating how their competitors will react. Workers decide how to cooperate with others by anticipating how this will affect their reputations.All theoretical concepts will be discussed in the context of many different applications.