Month: June 2016

Looking at Conflict with Game Theory

Game Theory pic
Game Theory
Image: nobelprize.org

Dr. Antonios (Tony) Antoniou is an expert in business and finance and achieved recognition in Jean I. Heck and Philip L. Cooley’s study, “Most Prolific Authors in the Finance Literature: 1959 – 2008.” Amid Dr. Antonios Antoniou’s research interests is the question of how economics can be used in conflict resolution.

In 2005, Robert J. Aumann and Thomas C. Schelling won the Nobel Prize in Economic Sciences when they used economic game theory to study conflicts such as wars, wage negotiations, trade, and even organized crime.

Game theory, which is sometimes called interactive decision theory, explores how agents in conflict make decisions when their choices are interdependent, and predicts actions based on what each agent believes the other agent will do.

Schelling’s book, The Strategy of Conflict, proposed game theory as an effective way to understand conflict in the context of the nuclear arms race in the late 1950s. Aumann later built on Schelling’s ideas to explore what game theory can reveal about longer term relations. Game theory has become a dominant strategy for understanding and predicting conflict in a range of contexts.

Are MBA Programs Still Relevant?

MBA Relevance pic
MBA Relevance
Image: forbes.com

Dr. Antonios (Tony) Antoniou is a prolific writer and consultant with extensive experience in business, finance, and economics. As such, Dr. Antonios Antoniou stays abreast of field-related issues, such as questions about how MBA programs hold up amid today’s economic realities.

Since 1985, the demand for traditional two-year MBA programs has dipped periodically and leveled off in recent years. In an era of recession where there is a growing demand for entrepreneurship and a need for innovative solutions to the world’s problems, some believe that MBA programs as they currently exist may not offer enough to students who want to succeed today.

Some MBA programs are answering to these issues by innovating their teaching models. Here, students can look at real companies in their startup phase rather than simply at case studies, and are being trained to think more like entrepreneurs.

Even the traditional MBA programs still have benefits, however, at least on the financial level. Students are usually able to pay back their investment within 3.9 years, and graduates from accredited schools typically have salaries that are 50 percent higher than what they were earning before they went to business school. As these programs innovate and offer more useful real-world information, graduates may indeed still find success from achieving a MBA.