SPE GCS Learning Tutorial: Game Theory for Business: Using Strategic Gaming in Oil & Gas. Book included
Course description
In the oil & gas industry, it is common for competitors to be partners, and partners to be competitors. This often gives rise to challenging competitive-cooperative dilemmas. For such situations, game theory is the most appropriate yet most underused tool. This one-day course introduces participants to game theory and Strategic Gaming, the leading practical application of game theory in business. Participants learn how to structure and analyze competitive-cooperative dilemmas, including chess-like situations characterized by complex action-reaction dynamics. For such situations, game theory can be used to develop a strategy and complementary tactics that can best influence competitors, partners, and other stakeholders to gain alignment or competitive advantage. The course reviews the fundamentals of game theory and of Strategic Gaming with classroom-style training in the morning, and in the afternoon, participants work in teams on a hypothetical but realistic oil & gas case.
The course is most appropriate for those in commercial roles or who work on projects with commercial issues. Those with an interest in decision analysis will find the class to be a valuable extension of traditional decision analysis. However, knowledge of decision analysis is not a prerequisite.
Participants should bring a laptop computer with Excel, if practical.
Book Included
Agenda
|
Begin |
End |
Duration |
Topic |
|
8:30 AM |
8:45 AM |
15 |
Class overview |
|
8:45 AM |
9:15 AM |
30 |
What is game theory? Where is it applicable and why is it important? |
|
9:15 AM |
9:30 AM |
15 |
Applying game theory in business: Strategic Gaming |
|
9:30 AM |
10:00 AM |
30 |
Game trees and framing |
|
10:00 AM |
10:15 AM |
15 |
Break |
|
10:15 AM |
11:15 AM |
60 |
Evaluation of games |
|
11:15 AM |
11:30 AM |
15 |
Beyond 35,000-foot strategy: tactics and contingent planning |
|
11:30 AM |
12:00 PM |
30 |
Case examples |
|
12:00 PM |
12:45 PM |
45 |
Lunch |
|
12:45 PM |
1:00 PM |
15 |
Case introduction |
|
1:00 PM |
4:00 PM |
180 |
Case exercise (in teams) |
|
4:00 PM |
4:30 PM |
30 |
Closing discussion |
Location:
SPE Training room
10777 Westheimer Suite 1075
Houston
,
Texas 77042