Enroll Course: https://www.coursera.org/learn/infoecon
Introduction
In the world of business, understanding the intricate dynamics of decision-making, competition, and information flow is paramount. The course titled Game Theoretic Analysis for Business Research (2), offered on Coursera, delves deep into these concepts by utilizing models and equilibrium analysis derived from game theory. Building upon its predecessor, this course emphasizes the role of information in managerial contexts.
Course Overview
As a continuation of the first module in the series, this course introduces students to the fundamental concepts of information asymmetry and how it impacts various facets of business research. It covers essential frameworks, including screening models and signaling models, that are vital for comprehending complex scenarios in business environments.
Syllabus Breakdown
- Introduction to Information Economics: The course begins with an engaging overview of key concepts such as information asymmetry, moral hazard, adverse selection, and the filtering problem using relatable real-life examples.
- Screening Models: Students will learn how to model invisible information asymmetry through a simplified pricing problem, gaining insights into classic two-dimensional hidden information screening models and their equilibrium solutions.
- Application of Screening Models: A practical case study involving supply chain management illustrates how to construct and analyze screening models in more complex environments, enabling students to derive unconventional yet interpretable research conclusions.
- Signaling Models: Transitioning to signaling problems, students will discover how to build and solve signaling models, exploring how decision-makers can convey hidden information through their choices.
- Application of Signaling Models: A detailed case based on high-value medical equipment sales will highlight the application of signaling models, providing a practical look at observational phenomena in real-world settings.
Why You Should Consider This Course
This course is ideal for graduate students, researchers, and business professionals keen to enhance their understanding of strategic decision-making in environments marked by information asymmetry. By the end of the course, participants will possess a solid theoretical foundation to conduct research on issues related to information asymmetry in business contexts.
Conclusion
If you’re looking to deepen your grasp of game theory in business research, Game Theoretic Analysis for Business Research (2) on Coursera is a course I highly recommend. It is not just theoretical; it equips you with practical insights that can significantly influence your approach to business strategies and decision-making. Don’t miss the chance to elevate your research skills with this fascinating course!
Enroll Course: https://www.coursera.org/learn/infoecon