Game Theory for Business Course
A Primer in Strategic Gaming
Instructor: Paul Papayoanou, Ph.D., Senior Advisor – Game Theory Specialist, Decision Frameworks
Companies are regularly interacting with other companies, and need to decide whether to compete or cooperate with others and how to do so. Game theory is the leading approach for tackling such issues, and this class is designed to help students understand how to apply game theory to business situations with influence issues—e.g., negotiations, strategic alliances, competitive risk. Students will learn basic principles and techniques of game theory and understand how to diagnose game situations and apply game theory practically.
This classroom-style course will be focused on realistic applications and practices in applying game theory approaches to business situations.
Learning Outcomes
Students will learn to:
- Identify situations in which game theory can add value
- Apply game theory to develop strategy and tactics in a disciplined, practical way
- Put oneself into others’ shoes and minds better
- Anticipate and influence the actions and reactions of others to understand and wield leverage
- Change the “game” to one’s advantage
Course Description
The course will include five individual sessions. This course will be virtual, classroom-style learning that will focus on realistic application and practices in applying game theory approaches to a business situation.
Each session will be 90 minutes, and the structure of the course will include:
Session 1: Introduction
- Introduction to the course
- What is game theory?
- When and why should we use game theory?
- Types of issues
- Game Theory vs. Decision Theory and Standard Valuation
- The 3 Cs
- 5 questions
- Strategic Gaming approach
- Illustration of approach: a case example
Session 2: Game framing
- Scoping the game
- Structuring the game: Players
- Structuring the game: Choices, Sequence, Uncertainties and game trees
- Structuring the game: Deal Table
Session 3: Evaluation of Games, part 1
- Basic principles: rationality and common knowledge
- Backward induction (perfect information)
- Chain Store Paradox
- Centipede Game
- Negotiation Games
- Economic modeling, deterministic and probabilistic analysis of games
Session 4: Evaluation of Games, part 2
- Solving and analyzing normal form games (imperfect information)
- Prisoner’s Dilemma
- Chicken
- Battle-of-the-Sexes
- Beyond 2*2 games
- Private information and signaling games
- Repeated games
Session 5: Execution planning and illustrative case examples
- Dynamic Road Map
- NegotiationReadyTM
- Tactics and using cognitive science
Dates & Times:
The course starts Tuesday, May 10, 2022. The five classes are held on May 10, 11, 12, 17 and 19 and run 8—9:30pm EDT.
Rates:
$550 for INFORMS Members
$600 for Non-members
Presenter
![[4:11 PM] Mary Leszczynski Dr. Paul Papayoanou is an innovative and highly accomplished strategist who has consistently produced valuable, creative solutions to complex business challenges and been a top advisor and negotiator of high-value deals. With over 15 years' experience using analytics-driven insights to improve negotiations, strategy development, and risk management, he has helped companies capture billions of dollars in value. Strategy work includes: Major capital investments • M&A, strategic alliances and joint ventures • Negotiation strategy and tactics • Competitive risk analysis and positioning strategy • Market entry and launch strategy • Pricing, branding and marketing strategy • Bidding strategy • Technology valuation, partnering, and monetization • Strategic planning and portfolio analysis • Enterprise risk management • Strategic sourcing and procurement • Business process improvementDr. Papayoanou is the author of Game Theory for Business, the leading book on applied game theory. A Fellow in the Society of Decision Professionals, he is recognized as an innovative thought leader who has instilled strategic and analytical capabilities in several organizations, trained a thousand business professionals, and lectured to MBA and executive education students at Harvard, Stanford, Rice, and other top universities. In addition to game theory, Dr. Papayoanou's expertise includes decision and risk analysis, real options, statistics, war gaming, economic valuation and financial modeling, and political risk analysis.To learn more, contact: Paul@DflyStrategy.com](/var/ezflow_site/storage/images/media/iol/images/dr.-paul-papayoanou/4239050-1-eng-US/Dr.-Paul-Papayoanou_medium.png "[4:11 PM] Mary Leszczynski Dr. Paul Papayoanou is an innovative and highly accomplished strategist who has consistently produced valuable, creative solutions to complex business challenges and been a top advisor and negotiator of high-value deals. With over 15 years' experience using analytics-driven insights to improve negotiations, strategy development, and risk management, he has helped companies capture billions of dollars in value. Strategy work includes: Major capital investments • M&A, strategic alliances and joint ventures • Negotiation strategy and tactics • Competitive risk analysis and positioning strategy • Market entry and launch strategy • Pricing, branding and marketing strategy • Bidding strategy • Technology valuation, partnering, and monetization • Strategic planning and portfolio analysis • Enterprise risk management • Strategic sourcing and procurement • Business process improvementDr. Papayoanou is the author of Game Theory for Business, the leading book on applied game theory. A Fellow in the Society of Decision Professionals, he is recognized as an innovative thought leader who has instilled strategic and analytical capabilities in several organizations, trained a thousand business professionals, and lectured to MBA and executive education students at Harvard, Stanford, Rice, and other top universities. In addition to game theory, Dr. Papayoanou's expertise includes decision and risk analysis, real options, statistics, war gaming, economic valuation and financial modeling, and political risk analysis.To learn more, contact: Paul@DflyStrategy.com")
Author of "Game Theory for Business: A Primer in Strategic Gaming"
Dr. Paul Papayoanou is an innovative and highly accomplished strategist who has consistently produced valuable, creative solutions to complex business challenges and been a top advisor and negotiator of high-value deals. With over 15 years of experience using analytics-driven insights to improve negotiations, strategy development, and risk management, he has helped companies capture billions of dollars in value.
Strategy work includes:
- Major capital investments
- M&A, strategic alliances and joint ventures
- Negotiation strategy and tactics
- Competitive risk analysis and positioning strategy
- Market entry and launch strategy
- Pricing, branding and marketing strategy
- Bidding strategy
- Technology valuation, partnering, and monetization
- Strategic planning and portfolio analysis
- Enterprise risk management
- Strategic sourcing and procurement
- Business process improvement
Dr. Papayoanou is the author of Game Theory for Business, the leading book on applied game theory. A Fellow in the Society of Decision Professionals, he is recognized as an innovative thought leader who has instilled strategic and analytical capabilities in several organizations, trained a thousand business professionals, and lectured to MBA and executive education students at Harvard, Stanford, Rice, and other top universities. In addition to game theory, Dr. Papayoanou's expertise includes decision and risk analysis, real options, statistics, wargaming, economic valuation, and financial modeling, and political risk analysis.
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