Behavioral economics and Game theory | Robert Aumann | Reason with Science | Nobel Laureate

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Reason with Science

Jitender Kumar

56 episodes

1 week ago

Welcome to "Reason with Science", the podcast that explores the intersection of reason and science in our everyday lives. Billions of years of evolution led to a species which is asking questions about its own existence. This quest of humans is not possible without science. As we navigate an increasingly complex world, it's more important than ever to approach issues with a clear and evidence-based understanding. In this podcast, we'll dive into the latest research, explore fascinating topics, and interview experts in their respective fields to help us make sense of the world around us.

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Behavioral economics and Game theory | Robert Aumann | Reason with Science | Nobel Laureate | Psychology

Reason with Science

1 hour 44 minutes 59 seconds

2 years ago

Behavioral economics and Game theory | Robert Aumann | Reason with Science | Nobel Laureate | Psychology

This episode is with Robert Aumann (94 years old now).

He is widely regarded as one of the most influential thinkers in game theory and decision theory. His exceptional work has not only reshaped the way we understand strategic decision-making and cooperation but has also garnered him numerous accolades. In 2005, Aumann was awarded the Nobel Prize in Economic Sciences for his pioneering work in game theory and its applications. His groundbreaking insights have not only advanced our theoretical understanding of strategic decision-making but also have practical implications in various fields, such as negotiations, conflict resolution, and the design of market mechanisms.

In this conversation we talk about the topics related to his scientific journey including game theory to study the conflict and cooperation, Nash equilibrium, Aumann Agreement Theorem, Knot theory, rationality, and future directions of game theory.

Guest info:

Website: https://mathematics.huji.ac.il/people/robert-j-aumann

Episode links: Website: https://www.reasonwithscience.com/home/behavioral-economics-and-game-theory-with-robert-aumann Youtube: https://youtu.be/l6AK1RlNPSo Spotify: https://open.spotify.com/episode/6hKAlf7GqPwhtkrNLaPU9I?si=55G-9LCwS-qn5ecZvPQ6DQ Apple podcast: https://podcastsconnect.apple.com/my-podcasts/show/reason-with-science/407cd478-4271-4319-8318-fc378d4e7ccb/episode/behavioral-economics-and-game-theory-|-robert-aumann-|-reason-with-science-|-nobel-laureate-|-psychology/b975ea0c-2501-448a-8bd3-ea58628da534 Google podcast: https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy9iMjMyNDZlOC9wb2RjYXN0L3Jzcw/episode/NjRmN2RlMTEtYWY1NS00ZGNmLTkwNzgtMGE3ZmJkMDY3YzZl?sa=X&ved=0CAUQkfYCahcKEwiQ5IGWuKn_AhUAAAAAHQAAAAAQLA

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Timestamps:

00:00:00 Introduction

00:01:07 Interest in mathematics and economics

00:12:34 What is game theory?

00:16:35 War is an example of a game

00:17:30 Zero sum game

00:18:33 Politics is also a game

00:19:05 Contributions of John Nash to game theory

00:28:35 Examples of game theory regarding economics

00:47:00 Concept of common knowledge

00:58:30 Agreement theorem

01:04:25 Bayesianism and agreement theorem

01:05:42 Importance of education

01:13:48 Rationality

01:22:55 Kahneman and Tversky's work

01:25:30 Wars are rational

01:43:40 Life at the age of 93!

01:44:30 Thank you