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228. Game Theory: Behavioral Economics Foundations (Refreshed Episode)

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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The Difference Between Playing to Win and Playing Not to Lose

This episode originally aired August 23rd, 2019 and was number 62 of the podcast. One of my favorite insights from game theory is the difference between playing to win and playing not to lose. I'm going to tell you about three games that are often used in game theory: ultimatum, prisoner's dilemma, and personal gain. In behavioral economics, we need to consider how our choices based on game theory can have a real-world impact.

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