engleski

Game Theory and its Application in Higher Education : Doctoral Studies in Economics and Business at the University of Rijeka

Game Theory represents a set of theories applied to bring optimal decisions in different areas of human activities. During its development, especially in the second half of the 20th century, Game Theory started gaining on its significance in numerous scientific areas, especially in social sciences, humanities, but also in natural sciences. The paper presents an application of Game Theory in the analysis of doctoral studies in economics and business at the constituents of the University in Rijeka (UNIRI), the doctoral studies at the Faculty of Economics (EFRI) and at the Faculty of Tourism and Hospitality Management (FTHM), which are presented in this paper. The strategy of both faculties is to offer high quality doctoral studies which would attract a greater number of participants. In line with the before-mentioned, the strategic goal of UNIRI is to increase the number of PhD students and defended doctoral dissertations, which would enable its entrance into the top three hundred European universities. The realization of UNIRI's strategic goal (the leader) is determined by the rational behavior of its constituents, EFRI and FTHM (the satellites), which is the fundamental hypothesis of this paper. The values used in the analysis are assumptions, considering that the accent of the paper is placed on the significance and possibilities of applying Game Theory in the area of higher education, and not on forming optimal leader's and satellites' strategies. Besides the simple game with two players (EFRI and FTHM), the analysis is expanded by adding a third player (UNIRI) based on the Axelrod's tournament model. Taking into account the criteria of rationality, cooperate strategy, tit for tat strategy and the folk theorem, the possible behaviors of game participants for a win-win situation are described.

higher education ; doctoral studies ; economics and business ; Game Theory ; strategy

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