Game theory-related careers?
The more I learn about game theory, the more I love it—are there any specific career paths that involve game theory more than others?
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Distressed debt investing or RX advisory
Could you elaborate on that please? Please do provide practical examples of game theory being used in RX or DD?
Game theory has little practical applications, and even less applications for which you would get paid. The only use of pure game theory for business purposes are airwaves auctions in the USA.
However, if you like game theory, there's a good chance you'd also like industrial organization, which opens a lot of options related to competition, either on the antitrust regulation level if you have a law background or at the business strategy level.
This made me laugh. Any situation with multiple players all making decisions that affect each other will draw on the principles of Game Theory. It's highly useful in any business-related field, esp. IB.
Bullshit, please do provide practical examples of game theory being used in investment banking.
OH shut up you guys are a Prospect and an Intern. WTF do you know?
To OP: @latinblue' game theory is very applicable in applied economics research and can be very useful in data science. Any sort of quantitative decision making, game theory is very very useful.
If you want a career where game theory is involved, you'd want to be an academic or an industry researcher.
Corp Dev / Corp Strat
We don't really ever explicitly reference or "use" game theory. However, the principles taught in game theory are largely applicable to acquiring or partnering with a company.
What do they know, what do we know, what do they know ABOUT US (or customers, size, metrics, etc) what do we know about THEM (their operations, costs, margins, etc).
How do we respond to their RFP, what economic models do we show them, in what context do we show them in, what's the story we're trying to craft, how will they respond, is that how we want them to respond, can we take this approach and make both the internal teams and the partner happy?
Everything above gets exponentially more important when we're negotiation with two companies in the same / similar space or industry.
That means it's a huge gamble. Be careful. Go into HF then
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Being one half of a crime duo should also do the trick
Poker is entirely based on game theory. You could be a poker pro Eg: https://math.mit.edu/~apost/courses/18.204_2018/Jingyu_Li_paper.pdf
I second distressed debt investing
Could you elaborate on that please? Please do provide practical examples of game theory being used in DD?
Read distressed debt analysis by Stephen Moyer, it’s one of the earlier chapters where he explains this
Are you using three different accounts? What's with the " Please do provide practical examples"? Just ask if there's any notable examples.
Anything involving auctions and/or bargaining.
Auctions exposure could for example be working at a large art collector active in competitive auctions. Similar dynamics in any (public) tenders. Actual jobs could be economist/econometrician for (semi-)government bodies regulating these auctions.
Bargaining makes me think of independent dispute lawyers/advisors who act as third parties in negotiations which are stuck. Would argue that politics at any level also requires all parties to 'use game theory' in negotiations.
Do agree with others that, even in these fields, game theory is only a small part of any viable career.
i remember when i first watched a beautiful mind too
Game show contestant
Econ professor
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