An MCDM-based game-theoretic approach for strategy selection in higher education

Abstract

This study proposes a framework for universities and governments to select strategies by considering the strategic interactions. The strategic choices of universities and governments can be determined by analyzing the related literature and discussing it with experts in higher education (HE). Because these experts form their evaluations depending on various criteria, the outputs of multi-criteria decision-making (MCDM) models are used to determine payoff values for players by considering all strategic combinations. After constructing the payoff matrix, the Nash equilibrium concept of game theory is used to determine optimal strategies for the universities and governments for simultaneously played games. Sequential versions of the games are also analyzed using backward induction. The results show that in all games constructed using criteria with different weights, either the government or the university, or both, preferred to motivate high-quality academic research. The proposed methodology can be used by the policymakers in the higher education area, both by the central planners (usually the government) and the universities.