Behavioral economics and Game theory with Robert Aumann
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, he 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.
Follow Reason with Science:
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
01:22:55 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
Music by: Ahmed Hassan (https://www.youtube.com/@2ays577/featured)