University of Miami School of Business is among the 132 graduate business programs that provide Doctoral degree in Business Administration. As one of the top rated higher education institute located in Coral Gables, Florida, the University of Miami offers PhD in Business Administration through School of Business. This page details GMAT requirements, types of degree offered, concentrations, and financial costs of University of Miami School of Business PhD in Business Administration. See ANYCOUNTYPRIVATESCHOOLS.COM for top business schools in New York.
PhD in Business Administration (More than 2 years)
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| Program Name | PhD in Business Administration | ||||
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| Joint Degree Offered | No | ||||
| Delivery Format | Classroom | ||||
| GMAT Score | GMAT Accepting | ||||
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| Financial Aid Availability | Financial aid available, contact school for more information | ||||
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Thinking Strategically: Game Theory and Business Strategy
Good strategic thinking is both an art and a science. This course will focus on the science of strategic thinking. We will examine the science of strategic thinking using the tools of game theory, auction theory, and the mechanism design. The student will become familiar with the idea of placing himself or herself in his or her rival’s shoes in order to gain the upper hand in bargaining and reduce the risk associated with business ventures whenever possible.
We will begin by reviewing some of the basic principles of game theory as a foundation for strategic thinking. We will then apply this thinking to the business situations one is likely to encounter. Examples include realization of gains from cooperation, the transfer of risk to realize efficient production, signaling information indirectly where it is cost reducing, and the avoidance of overbidding in a sealed bid auction.
- Review of Nash equilibria, dominant strategy, the Prisoner’s Dilemma
- Realizing gains from cooperation
- Game trees
- Risk and uncertainty
- Using information strategically
- Negotiating and bargaining power
- Mechanism design
- Auction theory
The text for the business course is Games, Strategies, and Managers: How Managers Can Use Game Theory to Make Better Business Decisions, Oxford: Oxford University Press, 1992. Text written by John McMillan specifically for business managers.Final grades will be allocated as follows: Assignments-20%, Midterm Exam-30%, and Final Exam-50%. In addition, class participation will be taken into account in determining the overall class average, should it be the case that grades need to be adjusted.
