As Leaders and Managers, and anyone who interacts with other people, situations of interdependence, conflict, competition, and cooperation are something you deal with everyday. But it is still often a challenge to deal with such situations, or to know for sure, if a certain strategy will work, or not, and under what circumstances it will work.
Wouldn’t it be nice if there were some logical, or even mathematical way to deal with such situations ?
Game Theory can help us do just that. It helps us model and analyze several situations of Interdependence, Cooperation, Competition and Conflict. And, over the decades, this has given rise to powerful lessons, concepts and strategies. Game Theory provides a systematic way for us to conceptualize, and analyse how rational people navigate personal and group decisions, in interdependent, and competitive situations.
Armed with information from the recent mathematical models, research and studies in such situations, you can find out what type of strategic thinking will help you out, and try and anticipate what type of strategies your competitors, and even your allies, are likely to resort to, and how you can respond and manage them.
This toolkit of strategies from Game Theory will help you upgrade your Leadership Skills and Management Strategies significantly.
Armed with relevant knowledge of Game Theory Concepts, and its cool Strategies for Competition and Conflict Management, you can learn how to encourage Cooperation, and effective ways to manage conflict, and grow your network of interdependence, while navigating and managing the minefield of day to day conflicts and competition successfully.
You will learn about different types of Game theory scenarios, like Fair Division, The Prisoner’s dilemma, the Ultimatum and Dictator games, the Public Goods Game and the Tragedy of the Commons, as well as slightly more complicated concepts like the Shapley value. And you will learn how they apply to the day to day situations and problems we face.
Since this is a Beginner to Intermediate level Course on Game Theory strategies, it does not get into complicated mathematical modeling or probabilities.
Important Disclaimer: This Course has nothing to do with Computer or Video Games ! It is a Course on Game Theory and Decision Theory.
Some Images and Videos courtesy Pixabay, Pexels, Pressfoto, Alpha Stock Images and FreePik, as well as epictop10 at Flickr. Some Music snippets courtesy Bensound.