Game Theory Decoded - Part 1

Have you ever been stuck in traffic and switched lanes, only to watch your old lane start moving faster? Or perhaps you've stood in a grocery line, debating whether to move to the shorter line, knowing others are thinking the same thing? Welcome to Game Theory in action.

In Part 1 of a two-part episode, we explore the fascinating world of Game Theory with Kevin Zollman, a leading game theorist and professor at Carnegie Mellon University. We discuss the fundamentals of Game Theory, its real-world applications, and how it influences various aspects of life, from parenting to business negotiations. The conversation delves into key concepts such as zero-sum games, the Nash Equilibrium, and the Prisoner's Dilemma, illustrating how these theories can help us understand strategic decision-making in everyday situations. We also touch on the future of Game Theory in scientific research – including the behavior of viruses – and its implications for social dynamics.

Kevin Zollman is the Herbert A. Simon Professor of Philosophy and Director of the Institute for Complex Social Dynamics at Carnegie Mellon University.