Eran Shmaya joined the Managerial Economics and Decision Sciences department at the Kellogg School of Management in 2008. Professor Shmaya graduated from Tel Aviv University in 2007. Professor Shmaya's research areas are game theory, probability and information theory.
**This course was formerly known as DECS-452-0**Decision makers face two types of uncertainty: uncertainty about the state of nature (how much oil is on a tract of land) and uncertainty about the strategic behavior of other decision makers (what pricing strategy a competitor will follow). This course focuses on strategic uncertainty and the uses decision makers can make of the concepts of game theory to guide their decisions. Topics include bargaining and arbitration, collusion and competition, joint cost allocation, market entry and product differentiation, and competitive bidding. Role-playing exercises and case analysis are used.
This core course is equivalent to the course DECS-440 (MMM Business Analytics).
This sequel to DECS-430 extends the statistical techniques learned in that course to allow for the exploration of relationships between variables, primarily through multivariate regression. In addition to learning basic regression skills, including modeling and estimation, students will deepen their understanding of hypothesis testing and how to make inferences and predictions from data. Students will also learn new principles such as identification and robustness. The course has an intense focus on managerial relevant applications, cases and interpretations.