Scribd
Upload
6 views

Project Guide

Uploaded by

samiullah.ba16
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
6 views

Project Guide

Uploaded by

samiullah.ba16
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Project Guide

Project should demonstrate your understanding, modeling, and analytical skills in line with the course
learning objectives.

Sample Areas for Game Theory Applications: (You are free to choose your own)

• Game Theory Models in Finance


o Stock market competition, investment strategies, mergers & acquisitions, and risk
management.
• Game Theory Models in Economics
o Market structures (monopoly, oligopoly), pricing strategies, auction design, and trade
negotiations.
• Game Theory in Politics
o Election strategies, coalition building, international negotiations, and policy bargaining.
• Game Theory in Business Strategy
o Competitive strategy, product positioning, pricing wars, and innovation races.
• Game Theory in Marketing
o Advertising competition, brand positioning, customer loyalty programs, and pricing
strategy.
• Game Theory and the Practice of Bargaining
o Labor negotiations, trade agreements, salary bargaining, and dispute resolution.
• Game Theory in Blockchain and Cryptocurrency
o Consensus mechanisms (e.g., Proof of Work, Proof of Stake), tokenomics, and incentive
structures.
• Game Theory in Security and Cybersecurity
o Cyber defense strategies, resource allocation, counter-terrorism, and information security.
• Game Theory for Sustainability and Environmental Policy
o Climate change agreements, pollution control, conservation efforts, and resource
management.
• Game Theory in Artificial Intelligence (AI) and Machine Learning
o Multi-agent systems, autonomous decision-making, reinforcement learning, and AI
ethics.
• Game Theory in Healthcare
o Medical decision-making, competition among healthcare providers, insurance pricing,
and vaccine distribution.
• Game Theory in Operations Management
o Inventory control, supply chain coordination, logistics optimization, and queuing theory.
• Game Theory in Information Systems and Network Design
o Internet traffic management, network security, data sharing, and privacy strategies.
• Game Theory in Real Estate and Urban Planning
o Bidding wars, zoning decisions, housing market dynamics, and urban development
negotiations.
• Game Theory in Social Media and Content Platforms
o User engagement strategies, competition among platforms, influencer dynamics, and
content prioritization algorithms.

Step 1. Choose a Situation and Identify Strategic Behaviour


Identify a real-life or fictional scenario that involves both cooperative and/or non-cooperative
interactions. Reflect on how strategic behaviour influences outcomes.

• Choose a scenario that involves strategic decision-making among players (e.g., negotiations,
competition, alliances).
• Identify how each player’s objectives and potential actions can affect others.

Step 2. Model the Scenario Using Game Theory Concepts


Develop a structured game model of the scenario, selecting an appropriate game type and solution
concept.
• Select and justify a game type (e.g, strategic form, extensive form, cooperative, non-
cooperative).
• Clearly define players, strategies, and payoffs, considering the game’s characteristics (e.g.,
sequential or simultaneous moves, complete or incomplete information, perfect or imperfect
information).
• Choose and calculate the appropriate solution concept, such as Nash equilibrium, dominant
strategies, or backward induction for extensive games.
• If cooperative elements are present, explore cooperative game theory methods.

Step 3. Analyze and Interpret Solutions


Use solution concepts from game theory to interpret possible outcomes and analyze the strategic
interactions in the model.
• Solve the game to identify equilibrium points or optimal strategies, showing your
understanding of solution methods for cooperative and/or non-cooperative games.
• Interpret results to explain what these solutions mean in the context of your chosen scenario,
including any limitations of your model.
• Reflect on the implications of the game’s outcome for each player and for the overall
scenario, discussing whether cooperation could improve outcomes if it’s a non-cooperative
game.

Step 4. Reflect on the Model’s Application to Real-World Scenarios


Evaluate how game theory concepts can add value to business, societal, or personal decisions.
• If your scenario is based on a real event, compare your analysis with what actually happened,
discussing potential reasons for any discrepancies.
• Explain how game theory concepts could provide insights into business or societal decisions,
enhancing strategic thinking or decision-making.
• Consider alternative game theory approaches that might fit the scenario and justify your
chosen approach as the most effective.

Step 5. Present a Detailed and Academically Rigorous Report


Communicate your findings clearly, in accordance with academic standards, with structured and well-
written analysis.

• Provide a well-organized report that includes an introduction to the scenario, a detailed


model, analysis, interpretation, and reflection.
• Demonstrate clarity in your writing and logical flow in your argument, with minimal errors.
• Cite any references, supporting your methodological choices and interpretations to meet
academic standards.
• Use figures generated from Gambit, Python, etc., wherever possible.

Checklist for Self-Assessment Before final Submission


• Have I clearly defined players, strategies, and payoffs?
• Have I justified my choice of game type and solution concept?
• Have I identified and interpreted the equilibrium points or optimal strategies?
• Have I reflected on real-world applications and model limitations?
• Is my report structured, clear, and well-supported by references and visual tools?

You might also like