The Pie: An Economics Podcast Economic Cheat Codes: How Game Theory Can Help You Win at Work, Love, and Life
13 snips
Oct 28, 2025 Daryl Fairweather, Chief Economist at Redfin and the first Black woman to earn a PhD from UChicago's Economics Department, shares her economic 'cheat codes' for thriving in work and life. She emphasizes understanding negotiation from the other side, leveraging inside and outside options. Daryl explains the importance of perspective in decision-making and offers tips on avoiding biases. With insights on promotions, housing shortages, and personal values, she encourages listeners to align their pursuits with their true interests.
AI Snips
Chapters
Books
Transcript
Episode notes
Negotiate By Mapping Your Options
- Assess your inside and outside options before negotiating so you know how far you can push terms.
- Use market conditions to decide whether to bid aggressively or walk away.
See The Negotiation Through Their Eyes
- Stepping into the other person's perspective reduces behavioral bias and recalibrates how you value choices.
- Ask what advice you'd give a friend to counter sunk-cost and optimism biases.
Set A Deadline For Gathered Information
- Set a time-limit for deciding whether an option is worth pursuing given diminishing returns on information.
- Stop collecting costly signals once marginal benefit falls below alternative uses of time.
