Instructor

Prof. K. S. Mallikarjuna Rao

Semester

Spring ‘21

Course Difficulty

Moderate. The course consists of different theorems regarding decision making, and their proofs can get a bit rigorous. However, exams do not consist of those proofs, and we were tested on problems involving application of those proofs.

Time Commitment Required

2-3 hours/week

Grading Policy and Statistics

Decent.

Attendance Policy

None. There is no compulsory attendance. Lecture recordings and notes are provided after the lectures.

Pre-requisites

None

Topics Covered in the Course

Decision making techniques for systems operating under uncertainty. Multi criteria decision models, Pareto optimality, Goal programming with examples.

Basic concepts of decision theory. Decision under risk with examples: Probability and Bayesian Inference, von-Neumann Morgenstern expected utility theorem, Interpretations of probability; Utility, paradoxes of utility theory, Newcomb’s problem.

Dynamic programming, finite state action models, backward induction algorithm, and applications. Multi-agent models and Game Theory, with applications: Prisoner`s Dilemma, zero-sum and non-zero-sum games, static and dynamic games, strategic and extensive form games, Nash Equilibrium, Backward induction, repeated games, games with incomplete information, Bayesian Nash equilibrium, Evolutionary game theory.

Teaching Style

Live lectures with recordings provided later. The lectures can get a bit boring, but are very informative if you can be attentive.

Tutorials/Assignments/Projects

Assignments were not graded, and solutions were provided a week later.

Feedback on Exams

Open notes, consisting of problems involving applications of concepts

Motivation for taking this course

Making choices in life is daunting. Taking into account different factors while making a decision, quantifying them, and reaching a conclusion is necessary in various walks of life. This course provides some insights into methods how we can do it.

How strongly would I recommend this course?

I encourage taking this course. Gives good insight with wide-ranging applications. Also can be tagged as DE and IE, so it’s worth it even from a CPI point of view.

When to take this course?

I took it in my 4th year. This course can be taken in any year.

Review By: Pruthak Joshi