Trainings on
game theory
We offer our long-term project customers trainings and workshops in game theory, bargaining theory, and auction theory. The insights of each sub-discipline are essential for developing a powerful purchasing strategy and optimizing a specific award.
Training in game, negotiation and auction theory
Game and Bargaining Theory, Mechanism Design
In this one or two day event we teach the most important basics of game and bargaining theory as well as the perfectly interlocking components of our scientifically based negotiation approach GAIN (GAme theory In Negotiations). Using examples, participants learn and experience the importance of rules, significant effects of even minor rule changes on the behavior of the players and the achievable result. The effects achieved in numerous, even funny, experiments often cause amazement.
In this one or two day event we teach the most important basics of game and bargaining theory as well as the perfectly interlocking components of our scientifically based negotiation approach GAIN (GAme theory In Negotiations). Using examples, participants learn and experience the importance of rules, significant effects of even minor rule changes on the behavior of the players and the achievable result. The effects achieved in numerous, even funny, experiments often cause amazement.
The basis of any negotiation optimization is a solid understanding of the existing competitive situation. Participants learn how to map, analyze, and assess the significance of this situation for the development of successful solutions, as well as various approaches for optimally shaping the situation.
The aim of our approach is not to minimize prices, but the total cost of ownership, i.e. the bundle of prices and all other relevant characteristics of the service with regard to e.g. payment terms, strategy, quality and logistics.
After the most important theoretical basics have been conveyed, the participants are presented with the tasks and framework conditions of simple and challenging awards in real case studies. The attendees develop their solutions individually and present them. The advantages and disadvantages of all solutions are discussed. Finally, the historically developed solution is presented and explained. In doing so, we go into the game- and bargaining-theoretical causes and report which results were achieved.
The conveyed theoretical basics are success-critical for the application of GAIN. However, by far the most important prerequisite for the independent use of the methods is to implement real projects with our experts. It is like learning to swim ‒ studying theoretical treatises on buoyancy and looking at representations of the motion sequences alone are of little use: if you want to learn to swim, you have to get into the water…
Auction theory
Auction theory is the central basis of any optimization of an award and a negotiation design: knowledge of auction theory makes every buyer more successful, as she learns to use fundamental laws of designing competition for her own benefit.
The concept of training in auction theory depends on whether it is conducted in conjunction with game and bargaining theory, or stands alone.
Furthermore, the content is influenced by whether the participants should be enabled to successfully use existing auction platforms or learn about the power of auction theory without a specific platform. The latter’s limited properties restrict its applicability to complex designs. Here, negotiations outside the platform promise greater success.
The basic concept of our training in auction theory and practice is similar to that of the training in game and bargaining theory: In addition to learning theoretical basics, participants experience and learn about content and effects using examples. Based on real-life case studies, participants develop and present independent solutions. We then classify these designs, justify our perspective, give tips and present our solutions.
Successfully designing auctions in purchasing requires a sound understanding of the concrete competitive situation at hand. Even in auction design, the greatest success is generated by a combination of theoretical knowledge and practical project experience.