In Our Time cover image

In Our Time

Game Theory

May 10, 2012
41:51
Snipd AI
Melvyn Bragg and guests delve into game theory, discussing its origins, the Prisoner's Dilemma, coordination in games like 'Battle of the Sexes', the use of mathematics in evolutionary biology, and its applications in economics and society. They explore decision-making strategies, Nash equilibrium, and behavioral patterns in decision-making.
Read more

Podcast summary created with Snipd AI

Quick takeaways

  • Game theory originated from basic board games and evolved to aid decision-making in various fields like economics and biology.
  • Understanding game theory is crucial for analyzing decision-making processes involving multiple players and strategies in fields such as economics and political science.

Deep dives

Introduction of Game Theory by Von Neumann

Game theory was introduced by the Hungarian student, John von Neumann, who in 1928 started studying the theory of Parley Games. Von Neumann's observations on basic board games led to the development of game theory over the next 15 years. He realized that decisions made in games could be applied to broader decision-making contexts, leading to its flourishing since the early 1950s, being used widely in economics, biology, political science, and software design.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode