Game-Theoretic Solution Concept with Spreadsheets

4.6

Learners: 3,521

Instructor: Barsha Saha

Duration:

Discover the secrets of Game Theory with this 2-hour project-based course! Learn how to use two powerful decision rules - Maximin strategy and Minimax strategy - and unlock the solution concept of Nash Equilibrium. Dive into the world of Game Theory and master key terminologies while unraveling the computation mechanisms behind each method. With custom spreadsheet templates for each strategy, you'll solve complex payoff matrices and gain the skills to interpret the results. Don't miss out on this opportunity to enhance your problem-solving abilities. Enroll now and level up your strategic thinking! ▼▲

Course Feature Course Overview Course Provider Discussion and Reviews

Go to class

Course Feature

Cost:

Paid

Provider:

Coursera

Certificate:

Paid Certification

Language:

English

Start Date:

24th Jul, 2023

Course Overview

❗The content presented here is sourced directly from Coursera platform. For comprehensive course details, including enrollment information, simply click on the 'Go to class' link on our website.

Updated in [September 25th, 2023]

What does this course tell? (Please note that the following overview content is from the original platform)In this 2-hour long project-based course, you will learn how to use 2 Game-theoretic decision rules: Maximin strategy, Minimax strategy, and the solution concept, Nash Equilibrium. You will be familiarized with key terminologies in Game Theory and learn the underlying computation mechanism of each method to solve problems. Also, you will be solving higher order payoff matrices using custom spreadsheet based solution template (one for each method) and learn to interpret the results.Note: This course works best for learners who are based in the North America region. We’re currently working on providing the same experience in other regions.We considered the value of this course from many aspects, and finally summarized it for you from two aspects: skills and knowledge, and the people who benefit from it: (Please note that our content is optimized through artificial intelligence tools and carefully reviewed by our editorial staff.) What skills and knowledge will you acquire during this course? During this course, learners will acquire the following skills and knowledge:

1. Understanding of Game Theory: Learners will become familiar with key terminologies and concepts in Game Theory, including decision rules and solution concepts.

2. Application of Maximin Strategy: Learners will learn how to use the Maximin strategy to make decisions in game-theoretic situations. They will understand the computation mechanism behind this strategy and its implications.

3. Application of Minimax Strategy: Learners will learn how to use the Minimax strategy to make decisions in game-theoretic situations. They will understand the computation mechanism behind this strategy and its implications.

4. Understanding of Nash Equilibrium: Learners will learn about the solution concept of Nash Equilibrium and its significance in game theory. They will understand how to identify Nash Equilibrium in a game and interpret its implications.

5. Solving Higher Order Payoff Matrices: Learners will gain the ability to solve higher order payoff matrices using custom spreadsheet-based solution templates. They will learn how to input the necessary data and interpret the results obtained from the templates.

6. Interpretation of Results: Learners will learn how to interpret the results obtained from the spreadsheet-based solution templates for each method. They will understand the implications of the results in terms of decision-making and strategic behavior.

Please note that this course is currently optimized for learners based in the North America region, but efforts are being made to provide the same experience in other regions. Who will benefit from this course? This course will benefit individuals interested in game theory and decision-making strategies. Specifically, professionals in fields such as economics, business, politics, and strategic planning will find this course valuable. It is also suitable for students studying these subjects or anyone looking to enhance their problem-solving skills. The course provides a practical approach to understanding and applying game-theoretic decision rules, making it accessible to learners with varying levels of expertise. Additionally, the use of spreadsheets as a solution template allows for easy implementation and interpretation of results.