February 4, 2008 at 11:00 EST - Applications Series

Strategic Planning | Large Projects with lots of Uncertainty
It can be very difficult to make good decisions about large projects that may take many years to play out. There is uncertainty about the future business environment such as the sources and cost of energy, financing costs, regulatory constraints and technological developments. Moreover, other players can have considerable influence over whether the project will be successful.

Game theory can help to ensure that current information about a potential large project is used in the most effective manner. This Webinar will review the Open Options process of applying game theory to complex business problems. It will describe how game theory can help for planning large projects with lots of uncertainty specifically. It will then illustrate the process through a real-life case called "Crystal Ball". This case concerns an investment of $1 billion per year over a 15-year period.

Participants in this Webinar will gain an increased understanding of the Open Options process, will understand the risks of undertaking a large project without explicitly considering the choices made by other players, and will gain insight into how game theory can make a large project with lots of uncertainty more successful.

• Register online for this free Webinar

April 4, 2008 at 11:00 EST - Game Theory Fundamentals

Repeated Games of Prisoner's Dilemma
The branch of game theory that forms the basis of the Open Options process - ordinal, non-cooperative game theory - can be illustrated effectively using a simple idea, the 2x2 game. The most commonly discussed 2x2 game is known as Prisoner's Dilemma. It is often taught in graduate-level courses in business or political science, and is also occasionally discussed in magazine articles.

In this Webinar, the history of game theory will be reviewed, and the nature and history of the Prisoner's Dilemma will be introduced. The ideas of individual and joint efficiency will be covered, leading to the principle of non-cooperative and cooperative stability and to solution concepts in general. Axelrod's experiments in repeated games of Prisoner's Dilemma will be used to illustrate how these ideas can provide insights into how to behave in business relationships.

Participants in this Webinar will increase their understanding of the field of game theory, and will learn some fundamental and clarifying ideas about the complexity of decision making. They will also gain insight into the theory underlying the Open Options process, and how it can be applied to business applications.

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May 5, 2008 at 11:00 EST - Applications Series

Corporate & Government Affairs | Doing Business in Foreign Countries Any joint venture is a challenge because of the need to satisfy the interests of all participants. When the joint venture is in a foreign country and potentially subject to multiple levels of government oversight and regulation, the uncertainty and risk can be very challenging.

Game theory can help to ensure that foreign joint ventures are successful. This Webinar will review the Open Options process of applying game theory to complex business problems. It will describe how game theory can help to properly assess the power and motives of non-commercial players and how those players' interests intersect with the more familiar drivers of commercial partners. The ideas are illustrated through a real-life case called "Course Correction".

Participants in this Webinar will gain an increased understanding of the Open Options process, the dangers and opportunities of a foreign joint venture, and insight into how game theory can make foreign joint ventures more successful.

• Register online for this free Webinar