Game Theory - Operations Research

Game Theory

What you'll learn

Operations Research - Game theory. They will get a preliminary exposure to the concepts in understanding game theory

Requirements

You just need to know school level maths and have a good internet connection

Description

I have already put up four courses under the series ‘Operations Research’ and have received good response from students all over the globe. Encouraged by the response so received, I thought of making this new course on Game Theory, a celebrated topic in Operations Research. It’s primarily a situation of two competitive players playing a ‘Game’ with each other when the payoffs are known to either parties fully. Both the players are assumed to be rational; that means they will not do anything that will hurt themselves. The course will introduce the basic concepts in game theory. What is covered is the basic concepts such as games with saddle point and games without saddle point. Games of pure strategies Vs games of mixed strategies. Easy ways of solving two by two games have been covered. After this the 'Rule of Dominance' has been covered, with a view to reduce the size of the game where ever possible. Even the modified rule of dominance has been covered. The graphical solution to the game theory problem is possible if the game can be reduced to a two row or to a two column game. In this course problems of each type (one each) are covered. In some special types of problems the method of oddments is ideally suited to a three by three games, which otherwise cannot be reduced to a smaller size. In the course, two problems on the method of oddments have been covered. Lastly and most importantly the games using concepts of linear programming method is also covered.

Overview

Section 1: Introduction

Lecture 1 Introduction to Game Theory

Lecture 2 Preliminaries in Game Theory, Saddle Point etc

Lecture 3 Practice problems on Saddle Point

Lecture 4 A 2 X 2 Game of mixed strategies

Lecture 5 Introducing the rule of dominance

Lecture 6 Rule of dominance - continued

Lecture 7 Lecture 7

Lecture 8 Graphical Solution to a 2 X 3 game

Lecture 9 Graphical Solution to a 3 X 2 game

Lecture 10 Method of oddments for solving a game theory problem

Lecture 11 Practice Problem on method of oddments

Lecture 12 Relation between Game theory and Linear Programming

Students undertaking MBA, MS (in Management Sciences), those studying for BBA, CPA, Chartered Accountancy, Engineering, Technology, and similar