Application of game theory in marketing

Module title:

Application of game theory in marketing

Module overview:

This module introduces students to the game theory and complements the learn in marketing and business modules.
The objectives of this module are to enable students to:
• classify games and compare segments of game theory,
• apply strategic moves and find a solution of a game,
• select the appropriate application of game theory methods in marketing and business.
The module is a mixture of theory and applications; it provides an analytical framework through game theory to study aspects of co-operation, coordination, differentiation and negotiation. It teaches students to understand strategic interactions between different parties and enables them to make better decisions and outperform competition in the market.
It is important for students to take this module in order to develop analytical approach to reasonably complex business situations, as well as real-life challenges. At the end of the module students should have developed skills in the analytical and systematic use of strategic concepts and methods.

Literature:

Essential reading:
1. Osborne, M.J. (2009) Introduction to Game Theory. International edn. New York, NY: Oxford University Press
2. Jackson, Matthew O. (2011) A Brief Introduction to the Basics of Game Theory [Online] Available at SSRN: https://ssrn.com/abstract=1968579 or http://dx.doi.org/10.2139/ssrn.1968579

Recommended reading:
1. Dixit, A., Skeath, S. and McAdams, D. (2020) Games of Strategy. 5th edn. New York, NY: W. W. Norton and Company.
2. Carmichael, F. (2005) A Guide to Game Theory. 1st edn. Harlow: Financial Times Prentice Hall.

Further reading:
1. International Journal of Game Theory, Springer-Verlag GmbH, ISSN (online): 1432-1270
2. International Game Theory Review, World Scientific, ISSN (online): 1793-6675
3. Journal of Game Theory, SAP, ISSN (online): 2325-0054