In our 100th episode, we bring together Matthias Schranner of the Schranner Negotiation Institute and Sebastian Moritz from TWS Partners to celebrate the power of Game Theory in high stakes negotiations. We explore real-world negotiation cases, discuss the Game Theory perspective on successful strategies, and highlight how the two intersect to empower decision-makers. Join us as we reflect on 100 episodes of insights and celebrate the partnership between Schranner Negotiation Institute and TWS Partners!   Matthias Schranner is an FBI trained negotiation expert who together with his team at the Schranner Negotiation Institute advises business and government leaders around the globe in navigating high stakes situations. Sebastian Moritz is managing partner at TWS Partners and advises global executives and organizations on strategic negotiations, incentive systems, transformation, and sustainability, blending game theory expertise with a passion for innovation.    

In this episode, Topi Miettinen shares his view and research on insights from Game Theory on international conflicts. We start discussing different examples of conflicts, e.g.  complex negotiations within the EU and even war. Based on the examples Topi shares his research on the role of commitment to finding agreements. He also shares how his research extends from a bilateral negotiation (as in a war of two parties) situation to a multilateral situation (as in the EU).   Topi Miettinen is professor of economics at Hanken School of Economics and Helsinki Graduate School of Economics. His research focuses on behavioural and experimental economics, microeconomics, and game theory.  

In this episode, we discuss with our guest J. McKenzie Alexander evolutionary game theory and its applications. We start discussing different models from evolutionary game theory starting with the local interaction model and then moving to the replicator model. Based on that we then turn to applications in social theory especially when discussing proto-moral behaviour. J. McKenzie Alexander is Professor of Philosophy at the London School of Economics. His research explores the intersection of game theory, philosophy, and social theory. J. McKenzie Alexander has put together simulations of the discussed models on his homepage. Also, he is publishing a new book titled ‘The Open Society as an Enemy’.

In this episode, our guest Raymond Fisman explains to us the persistent challenge of corruption and the surprising ways in which political polarization and so called “wedge issues” help to sustain it. He shares his insights into why anti-corruption reforms remain elusive despite widespread public demand for honest governance and the creative measures some leaders have taken to battle corruption.  Raymond Fisman is the Slater Family Professor in Behavioral Economics at Boston University. His research explores the complex ways in which corruption and other informal behaviors influence markets, governance, and economic development. If you want to know more about Raymond’s research, you can check out his homepage.

In this episode, we explore the contributions of this year’s Nobel Prize laureates in Economics – Daron Acemoglu, Simon Johnson, and James Robinson – and their work on the role of institutions in shaping economic prosperity. Our guest, Navid Sabet guides us through their core findings and shares his perspective on their influential research and its impact on the field of political economy. Finally, he connects these insights to his own research, examining how institutions affect immigration reform and economic opportunities.   Navid Sabet is Assistant Professor in Economics at Goethe University Frankfurt. His research interests lie in the areas of political economy, applied microeconomics and public economics. Navid mentions the Nobel Prize winners’ famous paper from 2001, “The Colonial Origins of Comparative Development: An Empirical Investigation”. You can find it here. For more info on Navid’s research, you can check out his homepage or his paper on Immigrant legalization and the redistribution of state funds in the US.  

Selçuk Özyurt, an Associate Professor of Economics at York University, shares his expertise on game theory and online dispute resolution. He delves into the effectiveness of human versus algorithmic mediation, highlighting the nuances in design and theoretical properties. The conversation explores the evolution of online mediation mechanisms, emphasizing strategy proofness and efficiency as crucial elements. Selçuk also discusses the vital role of neutral mediators in navigating complex emotional disputes. His insights bridge the gap between theory and practical application in conflict resolution.

Cristina Bicchieri, the S.J. Patterson Harvie Professor at the University of Pennsylvania, shares her insights on social norms through the lens of game theory. She discusses how these unwritten rules shape behavior and the critical role they play in driving social change. The conversation highlights the impact of social norms on harmful practices like open defecation and child marriage, emphasizing the need for understanding community behaviors. Bicchieri also explores the influence of norms on poverty dynamics, illustrating how they can transform social interactions.

Stefaan De Rynck, Principal Advisor at the European Commission and former Senior Advisor to Michel Barnier, shares his firsthand insights on the Brexit negotiations. He breaks down the complex interplay of strategies employed by both the EU and the UK. The discussion covers the historical roots of Brexit, the challenges of maintaining EU unity, and the impact of fluctuating UK leadership. De Rynck also highlights how the negotiations shaped post-Brexit relations, paving the way for potential collaborations in various sectors.

In this episode, we discuss overconfidence and its underlying psychological mechanisms. Our guest Collin Raymond shares his research (joint work with David Huffman and Julia Shvets) based on a field study he conducted with managers in the context of their Bonus payment. We discuss their findings on how managers make overconfident predictions about their individual future performance. In the study they can link the overconfidence to managers having an overly-positive memory of past performance. We finish the discussion by deep-diving into other facets of overconfidence.    Collin Raymond is Associate Professor of Strategy and Business Economics at the Johnson School of Management of Cornell University. His research interests span Behavioural Economics, Experimental Economics, and Microeconomic Theory. He focuses on how individuals make decisions under uncertainty and the cognitive biases that influence these decisions. You can find the paper Collin describes in the interview here.

Paul Papayoanou discusses avoiding value drain in dealmaking, identifying four types of value-destructive behaviors. He emphasizes the importance of being a savvy strategist, balancing toughness and fairness. The role of preparation, reputation, and game theory in negotiation strategies is also explored, with insights on enhancing dealmaking outcomes in organizations.