Game Changer - the game theory podcast

Epizódy

• When Everyone Has a Say: Negotiating Complex Conflicts | with Lawrence Susskind 03.07.2026 36min

  In this episode, we explore the challenges of multi-party negotiations and why reaching agreement becomes exponentially harder as more stakeholders enter the room. Our guest Lawrence Susskind explains the principles of the Mutual Gains Approach and we discuss applications ranging from local disputes over renewable energy projects to the intricacies of building data centres and setting up other large-scale infrastructure investments. Along the way, we examine why organisations often underestimate stakeholder concerns and what they can do to build durable agreements. Lawrence Susskind is the Ford Professor of Urban and Environmental Planning at MIT and co-founder of the Program on Negotiation at Harvard Law School.
• The Calibration Game: Can Anyone Predict the Future? | with Rakesh Vohra 22.06.2026 19min

  In this episode, we explore what it really means to make a "good" prediction. Starting with something as ordinary as a weather forecast, we discuss why forecasting poses deep economic and game theoretic questions. Together with our guest Rakesh Vohra, we unpack the concept of calibration, examine how forecasts can be evaluated, and revisit the surprising insight that even someone without meteorological expertise can produce calibrated weather predictions.   Rakesh Vohra is the George A. Weiss and Lydia Bravo Weiss University Professor of Economics at University of Pennsylvania. You can find his paper co-authored with Dean Foster on calibration here.
• The Digital Search Paradox – Game Theory, Platforms and Endless Choice | with Sarah Auster 08.06.2026 20min

  In this episode, we explore how digital platforms transformed markets by dramatically reducing search costs and information asymmetries. Together with Sarah Auster, we dive into the "digital paradox" of endless choice, the unintended consequences of frictionless search, and what this means for the future design of platforms like Netflix and Amazon. Along the way, we uncover the broader economic story behind the evolution of the internet economy and the game-theoretic forces shaping digital markets today. Sarah Auster is a Professor of Economics at University of Bonn. You can find the papers relevant to this episode here: Simultaneous Search and Adverse Selection and Pandora's Box Reopened: Robust Search and Choice Overload.
• A loser for every winner? Causes and implications of zero-sum thinking | with Nageeb Ali 25.05.2026 30min

  In this episode, we discuss zero-sum games and zero-sum thinking with our guest, Nageeb Ali. We begin by looking at the broader picture of how zero-sum thinking has become increasingly prominent in today's public debate and how it relates to Akerlof's classic "lemons" problem. Drawing on ideas from economics and game theory, Nageeb shares research connecting zero-sum thinking to questions in political economy and organizations. He explains how zero-sum thinking can emerge even when policies are not objectively zero-sum: when individuals have different information and different interests, support for a policy by others may itself become a signal that the policy is bad for you. Later in the episode, Nageeb discusses how one-sided asymmetric information in organisational settings can lead to adverse selection and how these dynamics relate to zero-sum thinking more broadly.   Nageeb Ali is a Professor of Economics at Penn State University.
• The Missing Middle – How Market Design Gets Built for the Public Sector | with Thilo Klein 13.05.2026 21min

  In this episode, we speak with Thilo Klein about daycare allocation in Germany – a problem that is still mostly run by uncoordinated offers, even though it is well understood in matching theory. The gap isn't theory; it's the missing layer that turns academic mechanisms into systems municipalities can actually run. Thilo Klein traces how that layer is now being built – through years of research, an open-source experiment that taught hard lessons, and a spin-out. A conversation about market design where it lands.   Thilo Klein is Professor of Quantitative Economics at Pforzheim Business School and a senior researcher at ZEW – Leibniz Centre for European Economic Research. He is also the co-founder of MatchingTools, a company that develops software for real-world matching problems, including KitaMatch, a platform for daycare allocation. Learn more at https://matchingtools.de.  
• Beauty contest – what guessing numbers tells us about Game Theory | with Rosemarie Nagel 20.04.2026 25min

  In this episode, we speak with Rosemarie Nagel about the Beauty Contest, a classic game in economics. She introduces the setup, its origins, and the early research behind it. We then take a deeper look at the key insights from the Beauty Contest, in particular the concept of level-k reasoning and what it reveals about strategic thinking. Furthermore, Rosemarie shares how findings from these experimental studies have been linked to research on brain activity, offering a unique perspective on decision-making and the functioning of our brains. Finally, she offers a connection to real-world problems involving strategic reasoning. Rosemarie Nagel is an ICREA Research Professor at Universitat Pompeu Fabra (UPF) and the Barcelona School of Economics (BSE). As an experimental economist, her research builds bridges between economic theory and behavioral evidence through cognitive models informed by game theory, psychology, neuroscientific methods, and both laboratory and field experiments. Find two papers on the beauty contest game played with newspaper readers and with neuroscientific tools.
• Not the Game You Think: Why Cheap Renewables Don't Mean Cheap Electricity | with Natalia Fabra 30.03.2026 26min

  Europe's energy crisis has exposed deep structural flaws in how electricity markets work. But according to economist Natalia Fabra, much of the current debate is focused on the wrong problem. In this episode, we unpack why high prices are not simply a result of market design choices like uniform pricing – and why the real issue runs deeper. From the role of gas in price formation to the fundamental mismatch between short-term markets and long-term investment needs, this conversation reframes how we should think about the energy transition. Natalia Fabra is Professor of Economics at the CEMFI Madrid and one of Europe's leading experts on energy markets and regulation. Her research focuses on market design, competition, and the transition to low-carbon energy systems.
• Clones & Creative Ownership: Economics in the Age of AI | with Annie Liang 17.03.2026 22min

  In this episode, we explore how game theory and economics can inform the use of AI. Our guest, Annie Liang, introduces the concept of AI clones, systems designed to imitate specific humans, and discusses their potential applications, for example in recruiting. We examine the trade-off between the efficiency gains the clones can provide and the costs that arise when AI cannot perfectly create such clones without error. The conversation then turns to creative ownership, focusing not only on content but also on the ownership of creative style as AI becomes increasingly capable of reproducing it. Finally, we discuss how insights from information design can contribute to the broader debate on AI. Annie Liang is an associate professor of economics and (by courtesy) of computer science at Northwestern University.
• Bridging the Gap: From Lab Experiments to Real Behaviour – with Jan Stoop 04.03.2026 32min

  Can we trust lab experiments to predict real-world behaviour? In this episode, we explore the question of external validity together with Jan Stoop. From classic dictator games in the lab to misdelivered envelopes with real cash in private homes, we discuss whether people act differently when they are being observed - and what happens when established lab findings meet reality. We also talk about rich versus poor behaviour, financial stress, and why small "hassle costs" can create large inequalities in outcomes. Jan Stoop is Associate Professor at Tilburg University and Erasmus University Rotterdam. His research focuses on behavioural and experimental economics, with a particular emphasis on pro-social and unethical behaviour, financial stress, and inequality. He is known for creative field experiments that rigorously test whether laboratory results hold in real-world settings.
• Optimising for Trouble – Game Theory and AI Safety | with Jobst Heitzig 17.02.2026 26min

  What happens when an AI system faithfully follows a flawed goal? In this episode, we explore how even well-designed algorithms can produce dangerous outcomes — from amplifying hate speech to mismanaging infrastructure — simply by optimising a reward function which, like all reward functions, fails to encode all that matters. We discuss the hidden risks of reinforcement learning, why over-optimisation can backfire, and how game theory helps us rethink what it means for AI to act "rationally" in complex, real-world environments.   Jobst Heitzig is a mathematician at the Potsdam Institute for Climate Impact Research and an expert in AI safety and decision design.
• Political Polarisation – A Game-Theoretic Perspective | with Adam Meirowitz 03.02.2026 26min

  In this episode, we discuss how game theory sheds light on modern electoral competition. Our guest, Adam Meirowitz, introduces the classical model of candidate convergence and explains why real elections often depart from this prediction. We then explore the role of echo chambers and selective exposure, and why these surprisingly do not necessarily lead to greater polarisation. We also touch on how bounded rationality among voters can further impact these dynamics.   Adam Meirowitz is the Damon Wells Professor of Political Science with a courtesy appointment in Economics at Yale University. His referenced research paper on echo chambers "Selective Exposure and Electoral Competition" is published in the Journal of Politics (2025) and is joint work with Avidit Acharya, Peter Buisseret, and Floyd Zhang. You can find it here.
• Cheap talk – Game Theory's insights on communication | with Navin Kartik 20.01.2026 26min

  Talk is cheap – literally. But if words cost nothing, why do we ever trust them? In this episode, Yale Professor Navin Kartik breaks down the game theory of communication. We kick things off with the basics: what is the academic definition of "cheap talk", and why does cheap talk sometimes work but other times break down? From there, we transition to Navin's own research, which explores deeper facets of communication. We learn about lying costs and "inflated language": why does a reference letter need to say "excellent" to just mean "competent"? Finally, we dive into topics like pandering (why experts lie to agree with you) and muddled information (why test scores tell you more about gaming skills than natural ability).
• How do you decide? – Decision Theory and Uncertainty | with Itzhak Gilboa 09.12.2025 30min

  In this episode, we explore the foundations and evolution of decision theory. Our guest, Itzhak Gilboa, begins with a brief historical overview of how the field has developed over time. We naturally discuss maximising expected utility, Bayesian decision theory, and Savage's representation theorem. Itzhak then delves into critiques of the Bayesian approach, especially concerning its interpretation of what constitutes a "rational decision maker." He presents a range of alternative decision frameworks, including approaches that do not require individuals to specify a full subjective probability distribution.   Itzhak Gilboa is Professor of Economics and Decision Sciences at HEC Paris.
• Influence Pays – Game Theory for Smarter Workplace Incentives | with Pau Milán 25.11.2025 25min

  In this episode, we explore how game theory and network effects intersect to inform optimal incentive structures in organizations. Pau Milán walks us through his recent research, co-authored with Nicolás Oviedo-Davila and Marc Claveria, which uses a novel game-theoretic model to show how the productivity of one employee can amplify the output of others in their network—and how firms can leverage this to design smarter compensation schemes. Drawing on real-world examples and his theoretical work, Pau offers practical insights for employers and economists alike.   Pau Milán is an Associate Professor of Economics at Universitat Autònoma de Barcelona (UAB) and an Affiliated Professor at the Barcelona School of Economics (BSE). His research interests include Social and Economic Networks, Information Economics, Development Economics, Organisations, and Applied Game Theory. You can find the working paper "Incentive Contracts and Peer Effects in the Workplace" here.
• Are equilibria a good predictor for real-life behaviour? | with Colin Camerer 12.11.2025 28min

  In this episode we explore the most classical topic from Game Theory – equilibrium analysis. Our guest Colin Camerer shares insights on the game LUPI ('lowest unique positive integer'). We first discuss the actual mathematical equilibrium analysis and then dive into real life: results from a Swedish game show in which the game was played in a lottery format. Colin also compares the results from the game show with a study of the same game in a controlled lab environment. We finish the episode by deep-diving into level-k reasoning and Colin shares an example based on the role of published movie reviews.   Colin Camerer is the Robert Kirby Professor of Behavioral Economics at Caltech. His research interests include decisions, games, and markets.
• The Power of Connection – A Game Theoretic View on Networks | with Matthew Jackson 27.10.2025 26min

  In this episode we explore the economic and strategic foundations of networks – from personal connections in the labor market to complex webs of international trade and conflict together with our guest Matthew Jackson. He unpacks how networks shape opportunities, inequalities, and global dynamics, and how game theory helps us understand the power and fragility of these structures. Along the way, we discuss surprising applications, including the role of tariffs in supply chains and how network insights can explain patterns of cooperation and rivalry.   Matthew Jackson is the William D. Eberle Professor of Economics at Stanford University. His research interests include game theory, microeconomic theory, and the study of social and economic networks.
• Robbing the many to pay the one – game theory and temptation | with Carlos Alós-Ferrer 13.10.2025 30min

  In this episode we are talking about corporate scandals, selfishness, and how game theory can help us understand when people give in to temptation. Carlos Alós-Ferrer explains how his "Big Robber" experiment shows that while people often act pro-socially in classical economic games, things change when individuals are given the chance to earn large sums of money at the expense of harming many others. We also discuss how insights from psychology and neuroscience enrich economics by highlighting the importance of process data such as response times.   Carlos Alós-Ferrer is Chair Professor of Economics at Lancaster University (UK). His research spans economics, psychology, and neuroscience, with a focus on decision-making processes and the interdisciplinary field of psycho-economics. He is Editor-in-Chief of the Journal of Economic Psychology and also writes the blog Decisions and the Brain on Psychology Today.  
• From First Offer to Final Minute: Lessons from Unstructured Bargaining | with Emin Karagözoğlu 28.07.2025 32min

  In this episode, we dive into the world of experimental research on unstructured bargaining, exploring how real-world negotiations unfold when stripped of rigid rules and scripts. Our guest Emin explains how opening offers shape the conversation, the unspoken dance of reputation, and the ticking clock of deadlines – showing that even in seemingly messy contexts, strategic patterns emerge.   Emin Karagözoğlu is Associate Professor of Economics at Bilkent University. His work spans behavioural and experimental economics, game theory, and neuroeconomics, with a strong research focus on bargaining, fairness, morality, and dynamic negotiation processes.
• Impact or Innocence? Game Theoretic Clues to Why We Give | with Dennie van Dolder 14.07.2025 29min

  In this episode we explore what motivates people to give, using insights from a Dutch TV game show where a live audience decides how to split €10,000 among three contestants. We discuss how real-world data from natural experiments can help answer questions about fairness, impact, and generosity - and what this means for fundraisers and policymakers.   Dennie van Dolder is Senior Lecturer (Associate Professor) at the University of Essex. His research focuses on behavioural economics and empirical game theory, often drawing on data from game shows to study real-life decision-making.
• From Clicks to Chatbots: The Future of Online Advertising | with Dirk Bergemann 30.06.2025 28min

  In this episode we dive deep into the economics of digital markets with Dirk Bergemann. We discuss how search platforms like Google created entirely new marketplaces around user attention and private information, what makes digital markets so unique, and how auction design evolved to match the scale and complexity of internet advertising. Dirk also shares insights from his own research on how platforms collect and use user information and gives an economist's perspective on how emerging technologies - like large language models - might reshape the future of search and advertising.   Dirk Bergemann is Douglass and Marion Campbell Professor of Economics at Yale University and an expert in game theory, contract theory, and market design. Among others, his research is focused on economics of digital markets - especially those shaped by search engines and advertising auctions.