Game Theory in Operations Research and Decision Making from Udemy

Overview

Game Theory is an insightful course that delves into decision making when dealing with conflict and competition between two or more rational and intelligent parties. Throughout the course, students will explore essential concepts, such as the Concept of Game, Saddle Point, and Dominance Rule, as well as various methods like Graphical Method, Sub Games Method, and Algebraic Method. The course also focuses on problem formulation, ensuring that participants can grasp and apply their learnings in real-life scenarios.

Some notable characteristics of games that the course highlights include the finite number of competitors, rational and intelligent players, a finite set of possible courses of action for each player, and the impact of every player’s choice on the game’s outcome. Students will also become familiar with crucial Game Theory terminology, such as Player, Play, Strategy, Pure Strategy, Mixed Strategy, Value of the game, Two-person zero-sum game, Payoff, Payoff matrix, Saddle point, Maximin Principle, and Minimax Principle. By mastering these concepts, participants will be well-equipped to navigate and excel in different game scenarios, leading to better decision-making and conflict resolution in competitive environments.

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Skills you’ll learn

1. Understanding the Concept of Game
2. Identifying and Analyzing Saddle Points
3. Applying Dominance Rule and Modified Dominance Rule
4. Utilizing Oddoment Method for Problem Solving
5. Employing Graphical Method in Decision Making
6. Implementing Sub Games Method for Complex Challenges
7. Utilizing Algebraic Method for Strategic Calculations
8. Developing Problem Formulation Techniques in Game Theory

Summary

Explore the fascinating world of game theory and its significant impact on operations research and decision-making processes, under the expert guidance of Dr. Himanshu Saxena. Dive into a comprehensive, 13-lesson course loved by 29 enthusiastic learners who have given it a stellar 4.5 out of 5 rating. Join them in unearthing the practical applications of game theory and its potential to revolutionize the way we navigate decisions and strategize in various aspects of life!