Game Theory

Game Theory
Game Theory

Speakeasy conversation about strategy, competition, economics, history, and policy from two non-experts. The episodes include some actual economic Game Theory such as the Prisoner's Dilemma, the Traveler's Dilemma, and the Public Good game. Episodes also include conversations on dilemmas in TV/Movies, sports, and board/card games, as well as the history of military, intelligence (spies), politics, and economics. The objective is simply to think critically about how people make strategic choices regarding the world around them and most importantly, about the people around them.

  1. 9月11日

    119. Is Being Too Efficient At Your Job Bad? And How to Have Health Work Habits

    Summary In this episode, Nick and Chris discuss the efficiency paradox, where being good at your job can actually hinder your chances of getting promoted. They share examples from various industries, including eye surgery and software engineering, where employees who excel at their work are often rewarded with more work instead of promotions or recognition. They emphasize the importance of not making yourself irreplaceable and creating a single point of failure. The episode also touches on the concept of setting expectations and managing perceptions to advance in your career. In this conversation, Nick and Chris discuss the importance of finding the right balance between maximum effort and minimal effort in the workplace. They explore the concept of the 85% rule, which suggests that putting in 85% effort consistently can lead to better results and prevent burnout. They also touch on the significance of soft skills and building a good relationship with your boss. The conversation concludes with a discussion on the value of preparation and how it can impact performance in various fields, such as blind wine tasting and chess. Chapters: 00:00 Introduction and Breaking News 03:02 The Efficiency Paradox: Being Good at Your Job vs. Getting Promoted 09:57 The Chase Money Glitch and Other Examples 13:59 Office Space and The Office: Depicting Workplace Realities 19:07 The Importance of Setting Expectations and Managing Perceptions 23:02 Avoiding the Single Point of Failure and Advancing in Your Career 26:12 Recommendations for Getting Promoted 26:49 Introduction: From Wine to Hawaiian and Viticulture 27:36 Promotion and Replacing Employees 28:13 The Benefits of Working for a Large Corporation 29:23 The Greatest Walmart and Subway Stories 31:23 The Importance of Bosses and Recognition 32:22 The 85% Rule: Finding the Balance in Workplace Effort 36:19 Soft Skills and Building Relationships with Your Boss 38:22 The Value of Preparation in Performance 43:41 Achieving Success with 85% Effort 53:53 Conclusion: Episode Titles and Arrays

    56分
  2. 8月29日

    118. Shrinkflation; Skimpflation & The Downfall of Subway

    At a glance: Takeaways Shrinkflation is the process of products decreasing in size or quality while maintaining the same price. Examples of shrinkflation include smaller food packages and thinner burger patties. Ben and Jerry's faced tax issues in Canada due to downsizing their ice cream pints. Skimpflation refers to a decrease in product quality for the same price. Shrinkflation impacts consumer experiences and the economy. Shrinkflation and skimflation are common practices where companies reduce the size or quality of products while maintaining the same price. Examples include Ben & Jerry's reducing ice cream container sizes and Chipotle decreasing portion sizes. Measuring skimflation can be challenging, as it often involves changes in product quality that are not easily quantifiable. Companies like McDonald's and Subway are facing declining sales and customer frustration due to high prices and lack of value. Businesses should focus on providing quality products at affordable prices to meet customer expectations and drive sales. In this episode, we explore the concept of shrinkflation, where products decrease in size or quality while maintaining the same price. They provide examples of shrinkflation, such as smaller food packages and thinner burger patties. The hosts also mention Ben and Jerry's involvement in shrinkflation and how it led to tax issues in Canada. They touch on the related concept of skimpflation, where the quality of a product decreases for the same price. Overall, the conversation highlights the impact of shrinkflation on consumer experiences and the economy. The conversation explores the concepts of shrinkflation and skimflation, which refer to the practice of reducing the size or quality of products while maintaining the same price. Examples are given, such as Ben & Jerry's reducing the size of their ice cream containers and Chipotle decreasing the portion sizes of their meals. The discussion also touches on the challenges of measuring skimflation and the impact it has on consumers. McDonald's and Subway are highlighted as examples of companies facing declining sales and customer frustration due to high prices and lack of value. The conversation concludes with the importance of businesses focusing on providing quality products at affordable prices. Chapters: 00:00 Introduction and Casual Chat 02:57 The Decline of Dating Apps 11:16 Introduction to Shrinkflation 17:30 Examples of Shrinkflation 21:44 Ben and Jerry's Involvement in Shrinkflation 24:22 Skimpflation: Decrease in Quality 25:01 Impact of Shrinkflation on Consumers and the Economy 31:38 Examples of Shrinkflation and Skimflation 36:32 Challenges in Measuring Skimflation 39:42 Impact of Shrinkflation and Skimflation on Consumers 45:07 Struggles of McDonald's and Subway 48:25 The Importance of Providing Value to Customers

    54分
  3. 8月1日

    117. Black Swans - What Are They? What Do They Mean? Can You Prepare for Them?

    In this episode, Nick and Chris discuss black swan events, which are rare and unpredictable events with significant consequences. They explore the criteria for a black swan event and provide examples such as the 2008 financial crisis and the 9/11 terrorist attacks. They also discuss the predictability of these events and the impact they have on society and the global order. The conversation explores the concept of black swan events and their impact on history and society. It discusses various examples of black swan events, including the South Sudan basketball team playing the wrong national anthem, the 9/11 terrorist attacks, and the COVID-19 pandemic. The conversation also touches on the US intelligence community's Global Trends reports, which predict future trends and potential black swan events. It concludes with a discussion on the limitations of predicting and preparing for black swan events. Chapters 00:00 Introduction and Multilingual Podcast 01:17 Marvel Casting Robert Downey Jr.: A Cry for Help? 06:16 The Concept of Black Swan Events 14:09 Examples of Black Swan Events: 2008 Financial Crisis 19:00 Nassim Nicholas Taleb's Definition of Black Swan Events 23:45 9/11: A Black Swan Event 28:03 Introduction to Black Swan Events 29:58 Examples of Black Swan Events 36:29 The Role of US Intelligence in Predicting Black Swan Events 45:19 Geomagnetic Storms and Other Potential Black Swan Events 47:42 The Consequences of US Disengagement

    56分
  4. 7月25日

    116. Short Selling & Squeezing - Billionaire Feuds; Meme Stocks & Movies

    In this episode, the hosts discuss short selling and short squeezes in the stock market. They provide examples from movies like 'The Big Short' and 'Casino Royale' to explain the concept of short selling. They also explain the mechanics of short selling, including opening a brokerage account, borrowing stocks, and monitoring account equity. The hosts mention the GameStop short squeeze as an example of how short selling can backfire. They emphasize the potential for making a profit through short selling, but also the risks involved. In this conversation, the hosts discuss the real-life example of short squeezing in the case of Herbalife and the famous battle between Bill Ackman and Carl Icahn. They explain the concept of short selling and short squeezes, highlighting the risks and complexities involved. They also touch on the role of activist investors and the moral implications of short selling. The hosts emphasize the excitement and addictive nature of short squeezing, but caution against the high risks involved. They conclude by discussing the historical origins of short selling and its impact on financial crises. Short selling involves betting against a stock and profiting from its decline in value. IN THIS EPISODE: The mechanics of short selling include opening a brokerage account, borrowing stocks, and monitoring account equity. Short selling can be profitable, but it also carries risks and can backfire, as seen in the GameStop short squeeze. Movies like 'The Big Short' and 'Casino Royale' provide examples of short selling in different contexts. Short squeezing involves betting against a stock and profiting from its increase in value, often driven by investor behavior. Short selling is a risky and complex practice that can have significant consequences for both short sellers and the companies involved. Activist investors play a role in short squeezes by buying stakes in companies and attempting to change their direction or value. Short selling has a long history, dating back to the 17th century, and has been associated with financial crises throughout history. While short squeezing can be exciting, it is important to understand the risks and complexities involved before getting involved in such practices. Chapters 00:00 Introduction and Haircut News 03:12 Discussion on Summer Weather 06:48 Introduction to Short Selling and 'The Big Short' 10:08 Short Selling in 'Casino Royale' 15:18 Mechanics of Short Selling 19:10 Short Selling Strategies and Risks 21:47 GameStop Short Squeeze 25:58 Understanding Short Selling and Short Squeezes 28:30 The Fundamentals of Stock Behavior 31:51 The Mechanics of a Short Squeeze 39:14 The Role of Company Success in Short Squeezes 47:20 The Historical Origins of Short Selling

    50分
  5. 6月27日

    114. Why You Can't Get a Restaurant Reservation - Bots May Have Something to Do With It

    Summary In this episode, the hosts discuss various topics including Chris' recent wedding, changes in Adobe's terms and conditions, and the practice of scalping restaurant reservations. They explore the implications of Adobe's attempt to own the intellectual property of content created on their software and the backlash they faced. They also delve into the phenomenon of scalping restaurant reservations and the emergence of platforms like Appointment Trader. The hosts share their thoughts on the ethics of scalping and the separation of wealth in society. The conversation explores the concept of trading reservations and the implications of the gig economy on various industries. It discusses how the gig economy has changed the way people interact with services like Airbnb and restaurant reservations. The conversation also delves into the ethics and legality of selling reservations for public goods like campsites and hunting tags. The hosts share their opinions on different aspects of the gig economy, including the use of bots to book reservations and the impact of COVID-19 on dining experiences. Takeaways Adobe faced backlash for attempting to own the intellectual property of content created on their software The emergence of platforms like Appointment Trader has made it possible to scalp restaurant reservations The ethics of scalping reservations and the separation of wealth in society are topics of debate AI technology and its potential impact on society is a recurring theme in the conversation The gig economy has transformed the way people interact with services like Airbnb and restaurant reservations. The ethics and legality of selling reservations for public goods like campsites and hunting tags are debated. The use of bots to book reservations and the impact of COVID-19 on dining experiences are discussed. There is a need to strike a balance between ensuring equal access to public goods and allowing businesses to profit from their services. 00:00 Chris' Wedding and Congratulations 03:01 Controversy over Adobe's Terms and Conditions 06:30 The Impact of AI on Society 14:16 The Rise of Restaurant Reservation Scalping 22:49 The Impact of the Gig Economy 26:21 The Use of Bots and the Impact of COVID-19 29:38 Ethics and Legality of Selling Reservations for Public Goods 36:28 Balancing Access and Profit in the Reservation Market

    53分
  6. 5月22日

    113. The Texas Sharpshooter Fallacy & Confirmation Bias - Facts to Suit Theories Instead of Theories to Suit Facts

    In this episode, the hosts discuss the Texas Sharpshooter Fallacy, which is when outcomes are analyzed out of context, giving the illusion of causation rather than attributing the outcome to chance. They provide examples of this fallacy, such as the alcohol industry pushing back on labels that state alcohol causes cancer. They also touch on the narcissist's prayer, which is a chain of denial used to avoid responsibility. The hosts mention the connection between this fallacy and confirmation bias, as people tend to seek out information that supports their existing narrative. They also hint at the role of conspiracy-minded thinking in this fallacy. The conversation explores the concept of the Texas Sharpshooter Fallacy and its application in various contexts. It begins with a discussion on Venn diagrams and the history of their invention by John Venn. The hosts then delve into the Texas Sharpshooter Fallacy, which involves drawing conclusions based on selective data. They provide examples of how this fallacy is used in various fields, including stock market analysis and conspiracy theories. The conversation concludes with a tribute to Charles Mattson Love, an expert on Easter Island, who appeared on the show Ancient Aliens. Chapters 00:00 Introduction and Apology for Missing Last Week 06:32 Explanation of the Texas Sharpshooter Fallacy 13:49 Confirmation Bias and the Fallacy 21:46 The Alcohol Industry and the Fallacy 24:03 The Texas Sharpshooter Fallacy: Drawing Conclusions from Selective Data 27:45 Applying the Texas Sharpshooter Fallacy in the Stock Market and Conspiracy Theories 38:42 Differentiating Between Logical Fallacies and Disagreements 41:34 Nostalgia and the Creation of False Equivalences 45:18 The Advanced Achievements of Ancient Civilizations

    54分
  7. 5月10日

    112. Sell in May & Go Away -- Chicken or the Egg?

    In this episode, the hosts discuss the adage 'sell in May and go away' and its implications for the stock market. They explore the historical underperformance of the stock market during the summer months and the potential reasons behind it. They also touch on the impact of the presidential election cycle on stock market performance. The hosts caution that they are not offering financial advice and emphasize the importance of conducting thorough research before making investment decisions. The conversation explores the concept of 'Sell in May and go away,' which suggests that investors should sell their stocks in May and re-enter the market in October. The hosts discuss the historical data and theories behind this strategy, including the sell-off before summer vacations and the cyclical nature of the stock market. They also touch on the influence of cultural factors and the limitations of using past performance as an indicator of future results. The conversation highlights the importance of considering other factors and making informed investment decisions. Takeaways The adage 'sell in May and go away' suggests that the stock market tends to underperform during the summer months. Historical data shows that the stock market has lower average returns from May to October compared to November to April. Presidential election years may see higher stock market returns during the summer months. The housing market and the academic calendar may contribute to the underperformance of the stock market in the summer. It is important to conduct thorough research and seek professional advice before making investment decisions. The 'Sell in May and go away' strategy suggests selling stocks in May and re-entering the market in October. The strategy is based on historical data and theories, such as the sell-off before summer vacations and the cyclical nature of the stock market. Cultural factors and regional differences may influence the effectiveness of the strategy. Using past performance as the sole indicator of future results is not reliable, and other factors should be considered. Making informed investment decisions requires analyzing multiple factors and understanding the limitations of certain strategies. Chapters 00:00 Introduction to the 'Sell in May and Go Away' Adage 06:33 Elon Musk's Controversial Battery Range Lock 10:24 Understanding the Underperformance of the Stock Market in the Summer 21:39 The Impact of Presidential Election Years on Stock Market Performance 25:07 The Importance of Conducting Thorough Research Before Making Investment Decisions 26:34 Understanding the 'Sell in May and go away' Strategy 27:47 Exploring the Effect in the Southern Hemisphere 28:02 The Myth of Flushing Direction and Investment Strategy 29:07 Considering Other Factors in Investment Decisions 31:23 The Influence of Vibes and Cultural Factors 35:29 The Importance of Informed Investment Decisions

    52分

番組について

Speakeasy conversation about strategy, competition, economics, history, and policy from two non-experts. The episodes include some actual economic Game Theory such as the Prisoner's Dilemma, the Traveler's Dilemma, and the Public Good game. Episodes also include conversations on dilemmas in TV/Movies, sports, and board/card games, as well as the history of military, intelligence (spies), politics, and economics. The objective is simply to think critically about how people make strategic choices regarding the world around them and most importantly, about the people around them.

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