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270. Surprising Power of Game Theory to Explain Irrationality (Moshe Hoffman and Erez Yoeli)

The Michael Shermer Show

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Outcasting Through Economic Sanctions

Economic sanctions are better than armed conflict in the long run. But it's never going to be perfect, and so we should continue doing that. The other benefit is to make it very clear that anybody who violates this norm will pay a heavy cost,. And that requires maintaining that punishment even after the war is over or even if it can't affect the current war.

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