logo
episode-header-image
Jun 2018
1h 15m

Lecture 22 - Repeated Games: Cheating, ...

William Sheppard
About this episode
In business or personal relationships, promises and threats of good and bad behavior tomorrow may provide good incentives for good behavior today, but, to work, these promises and threats must be credible. In particular, they must come from equilibrium behavior tomorrow, and hence form part of a subgame perfect equilibrium today. We find that the grim strate ... Show More
Up next
Jun 2018
Lecture 24 - Asymmetric Information: Auctions and the Winner's Curse
We discuss auctions. We first distinguish two extremes: common values and private values. We hold a common value auction in class and discover the winner’s curse, the winner tends to overpay. We discuss why this occurs and how to avoid it: you should bid as if you knew that your ... Show More
1h 2m
Jun 2018
Lecture 23 - Asymmetric Information: Silence, Signaling and Suffering Education
We look at two settings with asymmetric information; one side of a game knows something that the other side does not. We should always interpret attempts to communicate or signal such information taking into account the incentives of the person doing the signaling. In the first s ... Show More
1h 10m
Jun 2018
Lecture 21 - Repeated Games: Cooperation vs. the End Game
We discuss repeated games, aiming to unpack the intuition that the promise of rewards and the threat of punishment in the future of a relationship can provide incentives for good behavior today. In class, we play prisoners’ dilemma twice and three times, but this fails to sustain ... Show More
1h 15m
Recommended Episodes
Jul 2024
Goal-Setting Strategies from a BRAIN EXPERT | Andrew Huberman EP 672
<p>Have you listened to the <a href="https://link.chtbl.com/1455-pod">FULL EPISODE yet?</a></p><p>"But I tend to do that with things I really wanna do anyway, but there's a strong fear. Like I'm afraid to do this or I'm kind of anxious about doing this, so I'll tell people and th ... Show More
7m 36s
Aug 4
[Rebroadcast] How to Persuade Your Emotions
#259: What’s the best way to prevent distractions? Are prevention techniques — like website blockers — effective? In this episode, we discuss different strategies aimed at behavior change. We argue that the source of the most sustainable behavior change is to build self-mastery t ... Show More
32m 4s
Jun 2024
Life's Infinite Games: Understanding Our Choices & Playing By Our Rules
Practical Psychology for navigating life's challenges and cultivating joy.Sam Webster Harris explores the concept of life as a series of games, blending psychological insights with practical wisdom. He discusses how every aspect of life involves some form of gameplay, from profes ... Show More
24m 49s
Aug 6
575: Ex McKinsey Expert on War Games, John Horn: How to Read Your Competitors (Strategy Skills classics)
<p dir="ltr">John Horn, professor of economics at Washington University's Olin Business School and former McKinsey strategist, shares a disciplined framework for understanding competitive behavior by applying game theory and structured simulations. In this episode, he explains ho ... Show More
1 h
Jul 2025
The True Cost of Conviction
<p>When you are faced with a decision, do you consider the best outcome, or do you consider your deepest values about which actions are appropriate? Steven Sloman contrasts these two primary strategies for making decisions: consequentialism or prioritizing one's sacred values. He ... Show More
1h 18m
Oct 2023
Ep 293: Which game of life are you playing?
Start Your Transformation Now Have you ever thought about life as being like a game? I don't mean board games or video games, but more like the “game of life” we are all playing every day on this planet. We follow certain rules, take on roles, and have different beliefs that sha ... Show More
35m 12s
Oct 9
Critical Thinking 4 | The Enemy Within: How Cognitive Biases Hijack Your Thinking
Why do smart people believe irrational things? Why do we cling to our beliefs even in the face of overwhelming evidence? The biggest obstacle to critical thinking isn't always "out there"—it's inside our own heads. Our brains are hardwired with mental shortcuts, or cognitive bias ... Show More
22m 9s
Aug 14
Corporate Finance Explained | The Psychology of Financial Decision Making
You've spent days building a perfect financial model, yet something about the final decision just feels "off." The numbers don't lie, but our own brains can quietly lead us astray. In this episode of FinPod, we dive deep into the world of cognitive biases and reveal how these hid ... Show More
13m 42s
Jun 2025
Episode 17 – Negotiation Skills Everyone Should Know
<p>Today, we’re diving into a topic that impacts nearly every aspect of life—<strong>negotiation skills</strong>. Whether you're working to climb the corporate ladder, buying a car, resolving a conflict, or negotiating a well-deserved raise, having strong negotiation skills can m ... Show More
15m 8s