Game Theory for Policymakers

3 Credits · Level: Graduate

Making decisions often means more than choosing among a set of alternatives. It also entails taking into account the possible counter-actions of other decision-makers, who might be pursuing common, different or conflicting objectives. In other words, it means thinking strategically. Game Theory is the discipline studying this strategic interaction between different actors. It is a powerful tool for analyzing a multiplicity of issues, including diplomatic bargaining, trade policies, environmental agreements, competition among firms, and contract design. The goal of this course is to familiarize students with some basic principles of game theory and its applications. By the end of the course, students will not only understand the behavior of actors in different game-like settings, but also how to devise better decision-making strategies in these situations. This course is accessible to any student with a minimum knowledge of mathematics and some elementary notions of probability.