Behavioral economics and Game theory | Robert Aumann | Reason with Science | Nobel Laureate | Psychology
Play • 1 hr 45 min

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.

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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

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