Module Code - Title:
MS4315
-
OPERATIONS RESEARCH 2
Year Last Offered:
2024/5
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
MS4303
Rationale and Purpose of the Module:
This module introduces further OR techniques for decision-making. The student will be able to apply these techniques to real life problems.
Syllabus:
Integer programming - pure integer programming algorithms, branch & bound solutions to mixed integer programming.
Deterministic dynamic programming - forward and backward recurrence formulations.
Probabalistic dynamic programming - finite and infinite stage problems.
Game Theory - Concepts of equilibrium, matrix games, extensive form games and repeated games.
Applications of game theory - models of economic competition (Cornot, Bertrand), evolutionary game theory.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
1. Formulate real life problems as integer programming problems -written examination
2. Apply the branch and bound method to solving integer programming problems - written examination.
3. Use recursion to solve finite horizon determenistic and stochastic dynamic programming problems.
4. Solve infinite horizon problems (using both the average cost and discounted cost criteria).
5. Find the Nash equilibria of the following types of game: matrix, extensive form, repeated.
6. Find evolutionarily stable strategies for simple matrix games.
7. Find equilibrium strategies for games derived from simple economic models.
Affective (Attitudes and Values)
1. Use game theoretical models to understand and qualitatively predict behaviour of individuals in simple interactions.
Psychomotor (Physical Skills)
.
How the Module will be Taught and what will be the Learning Experiences of the Students:
The lectures will be used to present the necessary theory and examples taken from real life problems. The tutorials will present examples that develop the concepts presented in the lecture, give the students opportunities to solve problems and discuss some of the philoshopical issues involved (particularly for the game theoretic models presented).
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Taha H. A. (2003)
Operations Research 7th Ed.
, Prentice Hall
Other Relevant Texts:
Thie P. R. (1988)
An introduction to linear programming and game theory, 2nd Ed.
, Wiley
Bather J. (2000)
Decision theory: an introduction to dynamic programming and sequential decisions
, Wiley
Bierman H. S. (1998)
Game theory with economic applications, 2nd Ed.
, Addison-Wesley
Nemhauser G. L. (1999)
Integer and combinatorial optimization
, Wiley
Whittle P. (1982)
Optimization over time: dynamic programming and stochastic control
, Wiley
Ahuja R. K. (1993)
Network flows: theory, algorithms and applications
, Prentice Hall
Maynard Smith J. (1982)
Evolution and the theory of games
, Cambridge University Press
Programme(s) in which this Module is Offered:
Semester(s) Module is Offered:
Module Leader:
James.Gleeson@ul.ie