Game Changer - the game theory podcast-logo

Game Changer - the game theory podcast

Business & Economics Podcasts

In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. We invite guests from business and academia to discuss how they use the power of game theory in their profession to make a difference – and to learn some fun anecdotes, useful facts and valuable insights along the way. Join us on this journey, and find out that game theory is much more than a topic for ivory tower discussions.

In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. We invite guests from business and academia to discuss how they use the power of game theory in their profession to make a difference – and to learn some fun anecdotes, useful facts and valuable insights along the way. Join us on this journey, and find out that game theory is much more than a topic for ivory tower discussions.

Location:

Germany

Description:

In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. We invite guests from business and academia to discuss how they use the power of game theory in their profession to make a difference – and to learn some fun anecdotes, useful facts and valuable insights along the way. Join us on this journey, and find out that game theory is much more than a topic for ivory tower discussions.

Language:

English

Contact:

+4915201034580


Episodes

Feeling lucky! – On the game theoretic aspects of lotteries | with Nick Arnosti

5/9/2022
In this episode, we discuss with Nick Arnosti the economic aspects of lotteries. Nick explains in which sense lotteries are a relevant economic mechanism, and gives some examples of where and why they are used. We focus in particular on the use of lotteries in the allocation of affordable housing in New York. Nick Arnosti is assistant professor at the University of Minnesota. His research is focussed on systems for allocating public resources. During the interview, Nick mentions a paper...

Duration:00:27:07

“More art than science” – Translating game theoretic predictions into practical recommendations | with Eyal Winter

4/25/2022
In this episode we are talking to Economics Professor Eyal Winter, who works as both an academic researcher and as a consultant who supports his clients in various auction settings. We discuss how consulting differs from theoretical research, and how to best behave in an auction setting. Eyal also shows how emotions can sometimes strongly influence people’s behaviour in auctions. Eyal Winter is the Silverzweig professor of economics at the Hebrew University and the Andrews & Brunner...

Duration:00:35:43

Backward Induction, Child Penalties and the Gender Pay Gap | with Carlotta Pilgram

4/11/2022
Backward Induction, Child Penalties and the Gender Pay Gap | with Carlotta Pilgram In this episode we are talking to Carlotta Pilgram, Consultant at TWS Partners and Economics graduate from Lund University in Sweden. We discuss the role of Game Theory in analysing the gender pay gap, the current state of research, why many intuitive explanations have little explanatory power and what measures can be taken to reduce payment differences which can be traced back to gender. Carlotta Pilgram...

Duration:00:15:58

Good intentions, bad outcomes: why Game Theory matters in policy making | with Hannah Rubin

3/28/2022
In this episode we are talking to Hannah Rubin about policy making, incentive structures and Game Theory in the world of sciences. Together we dig into why policies set up with the best intentions can backfire when existing incentive structures are not taken into account, e.g. when it comes to the goal of increasing diversity in grant applications, and how these policies could be improved. We discuss more generally what it takes to break out of existing structures in sciences such as e.g....

Duration:00:21:12

What keeps our lights on? Strategic interactions in the electricity market | with Peter Cramton

3/14/2022
In this episode, we talk to Peter Cramton about the electricity market. We discuss the 2021 Texas electricity crisis that left millions of Texans without electricity for four extremely cold days. Peter explains how understanding the crisis is important for markets everywhere. He shares with us that a reliable gas supply is essential for resilient electricity and Europe must reduce its dependence on Russian gas. Peter Cramton is Professor of Economics at the University of Cologne and the...

Duration:00:36:02

Chess, computers and game theory | with Daniel King

2/28/2022
The game of chess has been around for centuries and still hasn't lost its touch which is demonstrated by the sheer number of professional and non-professional players and countless pop culture references. In this episode chess grandmaster Daniel King walks us through his very own journey from being a professional chess player to becoming author, live commentator and YouTuber and what it takes to come up with the perfect strategy. We talk about why chess theoretically can be solved but still...

Duration:00:36:25

What Twitter can teach us about identity signaling | with Paul Smaldino

2/14/2022
In this episode we talk to Paul Smaldino about identity signaling. He walks us through its definition, the most common examples of identity signaling like language or fashion choices and how game theory can be used to model it. He explains why it is sometimes wise to signal covertly rather than overtly, how this depends on the heterogeneity of groups and what experimental evidence from Twitter has to say about all this. Paul Smaldino is associate professor of cognitive and information...

Duration:00:35:35

Let’s play - how to design mechanisms in board games | with Jamey Stegmaier

1/31/2022
In this episode we talk to Jamey Stegmaier, a board game designer, taking a step away from pure game theory to talk about designing board games. He explains where he gets his initial ideas for new games and what makes a great board game from his perspective. Relating to mechanism design we discuss which mechanisms generate a good interactive game. Jamey also shares his experiences of publishing games through crowdfunding which he went through very successfully in the past. Jamey Stegmaier...

Duration:00:18:54

Is inequity in society unavoidable? A few lessons from Evolutionary Game Theory | with Cailin O'Connor

1/17/2022
In this episode we talk to Cailin O'Connor about inequity in society and how it can be modeled using evolutionary game theory. She explains that few conditions like the division of groups into social categories such as gender or race suffice to lead to stable inequitable patterns which persist over time. We discuss implications when it comes to gender and the division of labour or bargaining situations and why it is so difficult to break inequitable patterns. Cailin O'Connor is professor of...

Duration:00:22:27

How to make an offer the other side cannot refuse | with Lionel Page

1/3/2022
In this episode we discuss with Lionel Page, professor of Economics at UTS, his recent research on starting offers in bargaining. We start with talking about the classical ultimatum game and how studies generated a seemingly contradiction to classical game theory. Lionel then explains how he extended the ultimatum game to understand how the value of the initial offer in a bargaining situation affects the outcome of the negotiation. Lionel Page is professor of Economics at University of...

Duration:00:32:12

Mechanism design explained by one of its founders | with Eric Maskin

12/20/2021
In this episode we chat with Nobel Prize laureate Eric Maskin about why mechanism design calls for an engineering approach and which tools are needed to design economic mechanisms. We discuss what separates a bad from a good mechanism and how this knowledge can help market designers, whether the goal is to reduce carbon emissions or sell spectrum rights. Eric Maskin is professor of Economics and Mathematics at Harvard University. He has made countless contributions in the fields of Game...

Duration:00:26:02

How auctions conquered the internet | with Michael Ostrovsky

12/6/2021
In this episode Michael Ostrovsky walks us through the history of online advertising auctions, from their modest beginnings at Yahoo and other internet pioneers to the lucrative business models many internet giants like Google and Amazon rely on today. Even though online ad auctions are a story of incredible success Michael also gives some insights into which flaws existed in its early days and how these were overcome as time passed. Michael Ostrovsky is the Fred H. Merrill Professor of...

Duration:00:41:23

Cause and effect – or why the 2021 Nobel Prize is nothing less than an empirical revolution | with Paul Hünermund

11/23/2021
In this episode Paul Hünermund explains why the Nobel prize in Economics this year was given to the three researchers David Card, Joshua Angrist and Guido Imbens and what companies can learn from their research. We talk about how natural experiments sparked an empirical revolution and how machine learning can help us establish causal links to find the answer to everyday questions. Paul Hünermund is assistant professor of Strategy and Innovation at Copenhagen Business School. In his...

Duration:00:23:08

A smarter way to save the climate | with Jos Cozijnsen

11/9/2021
In this episode, we are talking to Jos Cozijnsen, carbon specialist at the Carbon Neutral Group. Jos explains how knowledge from Game Theory and Mechanism Design can help reduce carbon emissions. He explains in detail the cap & trade system in Europe which makes carbon credits tradeable. This market has introduced CO2 reduction certificates which are issued for a project where additional CO2 reductions have been accomplished. Such carbon credit or CO2 reduction certificate can be used to...

Duration:00:26:45

Evolutionary game theory or ‘Why you can trust a peacock’ | with Kevin Zollman

10/25/2021
In this episode, we are talking to Kevin Zollman, professor of Philosophy and Social and Decision Sciences. Kevin explains how to use game theoretic concepts to study non-verbal communication between animals (and humans). From this perspective, seemingly useless or even costly features like the cumbersome tail of a peacock can be explained as costly (and therefore fraud resistant) signals to potential mating partners. We also discuss the limits of these concepts and alternative explanations...

Duration:00:29:22

Behind the Scenes of Sotheby's Auction House | with Eva Donnerhack

10/11/2021
In this episode we are talking to Eva Donnerhack, Director, Specialist for Modern and Impressionist Art and Head of Sales Germany at Sotheby's. Together we take a look behind the curtain of preparing an auction in the world of art, discuss the importance of timing, stories and cultural differences and learn what art auctions and concerts have in common. Eva Donnerhack is Director, Specialist for Modern and Impressionist Art and Head of Sales Germany at the auction house Sotheby's. As such...

Duration:00:20:28

Are All Models Wrong? | with Scott Page

9/27/2021
In this episode Scott Page, professor for Complexity, Social Science and Management at the University of Michigan, explains the value of models and their uses in different environments and disciplines including economics and in particular game theory. We talk about what to consider when setting up a model, how models capture "real life" and how to best apply them in a business context using game theory. Scott Page is professor for Complexity, Social Science and Management at the...

Duration:00:17:28

The Price of a Pill: Game Theory and the Pharmaceutical Industry | with Oliver Viehmann

9/13/2021
In this episode, we talk to Oliver Viehmann, Principal at TWS Partners, and explore the application of game theory to pricing strategies and negotiations in the highly regulated pharmaceutical industry. We discuss how pharmaceutical companies engage with regulators across the world to determine drug prices using two broad mechanisms: regulatory cost-effectiveness pricing and competitive procurement mechanisms (e.g. contracting or tendering). With reference to the highly publicized "Volume...

Duration:00:12:23

How to predict emerging market power using Game Theory | with Philipp Heller

8/2/2021
In this episode we talk to Philipp Heller, expert on mergers, antitrust and competition to elaborate on why game theory is relevant to merger analysis. We discuss how game theory can help predict effects of market consolidations for some of the most prominent examples in recent years. While the intended merger of Vonovia and its largest rival Deutsche Wohnen, which would have formed the largest residential-property company in the whole of Europe, was recently rejected by shareholders, the...

Duration:00:20:47

It's a match! How Economists improve mechanisms for kidney exchange | with Julien Combe

7/19/2021
In this episode Julien Combe, professor of Economics at École Polytechnique, walks us through the intricacies of finding the right matching mechanism for kidney exchanges. We talk about general challenges when trying to find a match, the impact of different regulations in different countries and how a single altruistic donor can set off a whole chain of successful exchanges. Julien Combe is professor at the Department of Economics at École Polytechnique in France. In his research he...

Duration:00:28:24