In order to advance the “green revolution”, the EU has set some ambitious goals to drastically increase renewable energies in their energy portfolio. Part of that strategy is to award “support” (i.e. state subsidies) to renewable energy...
In order to advance the “green revolution”, the EU has set some ambitious goals to drastically increase renewable energies in their energy portfolio. Part of that strategy is to award “support” (i.e. state subsidies) to renewable energy projects. Today’s guest Marion Ott explains to us how these subsidies are allocated, which rules are discussed to improve this process and their (unintended) effects. In particular, we are discussing “endogenous rationing”, which tries to increase competition in the subsidies tenders by artificially reducing the supply. Marion Ott is researcher at the ZEW and member of the research department "Market Design". Her work is focussed on auction and market design. You can find details on her current research activities on her homepage. In particular, Marion recently published two papers on endogenous rationing, which you can find here (in English) and here (in German only).
Erschienen: 21.06.2021
Dauer: 20:46
In April this year some of the best European football clubs announced their plans to create a "Super League". Plans which were crushed unanimously by both players and fans alike only a couple of days later. In this episode we talk to Jan Eeckhout,...
In April this year some of the best European football clubs announced their plans to create a "Super League". Plans which were crushed unanimously by both players and fans alike only a couple of days later. In this episode we talk to Jan Eeckhout, Professor of Economics, about the Super League from an Economics perspective. We discuss which economic considerations may have influenced the idea to create a Super League, how the League could have impacted market power, and how these effects translate more generally to labour markets with dominant players like Amazon. Jan Eeckhout is Professor of Economics at UPF Barcelona with a research focus on labour markets and author of the book "The Profit Paradox. How Thriving Firms Threaten the Future of Work" (theprofitparadox.com).
Erschienen: 07.06.2021
Dauer: 28:46
Weitere Informationen zur Episode "Super League, super market power? | with Jan Eeckhout"
From the prisoners’ dilemma to the Chicken Game: we all know the entertaining and powerful stories from game theory that help us to quickly identify the strategic core of a given situation. Today’s guest David McAdams explains to us that - while...
From the prisoners’ dilemma to the Chicken Game: we all know the entertaining and powerful stories from game theory that help us to quickly identify the strategic core of a given situation. Today’s guest David McAdams explains to us that - while these simplified stories are very useful – they might lead to wrong predictions and recommendations when used in the wrong context. David also gives some practical examples from his work as a professor and consultant (e.g. on vaccine distribution in the current pandemic, and the fight against antibiotic resistance of so-called super-bugs), and we see that choosing the right underlying story and collecting the correct initial data are crucial prerequisites to the success of a game theoretic analysis. David McAdams is Professor of Economics and Professor of Business Administration at the Fuqua School of Business at Duke University, and author of the book “Game-Changer: Game Theory and the Art of Transforming Strategic Situations”. David mentions several interesting research topics in the outlook of the interview. Here are the links to the corresponding papers (some behind a paywall): Learning through the grapevine: The Impact of Message Mutation, Transmission Failure, and Deliberate Bias: https://dl.acm.org/doi/10.1145/3391403.3399521 Social Networks and the Market for News: https://sites.duke.edu/rachelkranton/files/2020/04/Social-Networks-and-the-Market-for-News-Kranton-McAdams-April-2020.pdf Viral Social Learning: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3299129 In addition, you can learn more about David’s current research activities on his homepage.
Erschienen: 24.05.2021
Dauer: 39:34
Weitere Informationen zur Episode "Is game theory dangerous? | with David McAdams"
In this episode we are talking to Vitali Gretschko, professor of economics and market design. With him, we explore how moral behaviour affects decisions in market environments. We discuss a recent research project in which he jointly with colleagues...
In this episode we are talking to Vitali Gretschko, professor of economics and market design. With him, we explore how moral behaviour affects decisions in market environments. We discuss a recent research project in which he jointly with colleagues designed an experiment to understand details on the relevance of social norms for market interactions. We also discuss how markets can be set up and designed to increase moral behaviour. Prof. Dr. Vitali Gretschko is head of the ZEW Research Department "Market Design", Professor of Market Design at the University of Mannheim, and a member of the Research Unit "Design and Behaviour" at the German Research Foundation (DFG). Vitali’s team published a working paper on the research project he mentions in the interview - you can download it at https://www.zew.de/publikationen/social-norms-and-market-behavior-evidence-from-a-large-population-sample
Erschienen: 10.05.2021
Dauer: 26:51
In this episode we are talking to Anouar El Haji, behavioral economist and the founder & CEO of Veylinx. With him, we explore how game theory can help to identify how customers truly value new products and services. We touch on why it is crucial...
In this episode we are talking to Anouar El Haji, behavioral economist and the founder & CEO of Veylinx. With him, we explore how game theory can help to identify how customers truly value new products and services. We touch on why it is crucial for companies to obtain reliable insights before making major investment decisions and why so many companies struggle with this. The standard practice of conducting market research surveys is ineffective because participants don’t have skin in the game. But by taking a different approach using game theory, participants can be incentivized to reveal their true interest in services and products that might not even exist yet. Anouar El Haji is the founder and CEO of Veylinx (veylinx.com). Before founding his company Anouar completed his PhD at the University of Amsterdam applying his knowledge in game theory and behavioural economics to the field of Marketing.
Erschienen: 26.04.2021
Dauer: 28:53
In this episode we are talking to Robert Idel, economist and expert in the energy sector. With him, we explore the effects of zero prices and how a market design approach can help tackle the challenging properties of the energy sector with limited...
In this episode we are talking to Robert Idel, economist and expert in the energy sector. With him, we explore the effects of zero prices and how a market design approach can help tackle the challenging properties of the energy sector with limited storage capacities and lack of incentives to invest. Ironically, after recording this episode, the fragility and flaws in the current energy market that Robert describes became drastically apparent, when a winter storm led to long lasting and widespread power outages (find the corresponding article under https://www.bakerinstitute.org/research/winterization-and-texas-blackout-fail-prepare-prepare-fail/). Robert Idel is an expert on the design of electricity markets and more generally regulation of the power sector. Robert is currently pursuing his PhD at the Baker Institute's Center for Energy Studies in Texas. https://www.bakerinstitute.org/experts/robert-idel/
Erschienen: 12.04.2021
Dauer: 26:24
In this episode, Christina Gravert shares her personal experience from using online dating apps and how she applied game theoretic principles to maximise her chances for finding the perfect match. It turns out that the use of dating apps like tinder...
In this episode, Christina Gravert shares her personal experience from using online dating apps and how she applied game theoretic principles to maximise her chances for finding the perfect match. It turns out that the use of dating apps like tinder can be modelled as a game, leading to useful insights for your best “swiping strategy”. We also discuss the link between dating apps and game theoretic concepts like “cheap talk” or the “optimal stopping” problem. Christina Gravert is an assistant professor of economics at the University of Copenhagen and the cofounder of Impactually, a behavioral science consultancy. Her research is field is behavioural economics with focus on environmental sustainability, health and charitable giving. If you want to know more about her academic work, you can check out her homepage. Our interview with Christina is based on her article at behavioralscientist.org, which also contains some interesting links on related articles.
Erschienen: 29.03.2021
Dauer: 20:21
Weitere Informationen zur Episode "Falling in love – game theory style! | with Christina Gravert"
In this episode we are talking with Jacob Larsen, expert on digital Procurement, about the nuts and bolts of e-auctions and why companies are still struggling to realize their full potential. We discuss the key ingredients needed for a successful...
In this episode we are talking with Jacob Larsen, expert on digital Procurement, about the nuts and bolts of e-auctions and why companies are still struggling to realize their full potential. We discuss the key ingredients needed for a successful e-auction, common misconceptions surrounding the topic and how to avoid looming pitfalls when first getting started with e-auctions. Jacob Larsen is an expert on Procurement in the digital age and author of the book "A Practical Guide to E-Auctions for Procurement". Currently the Head of Digital Procurement at Maersk, a danish integrated shipping company, the largest of its kind, Jacob knows the practical side of e-auctions like the back of his hand and summarized this knowledge together with the theory behind it in his book. If you want to discuss how the concepts introduced in Jacob’s book can help your organization to increase the use of e-auctions, you are welcome to reach out to him via LinkedIn or email (Jacob.larsen@maersk.com). You can also find the book e.g. on Amazon
Erschienen: 15.03.2021
Dauer: 31:39
Weitere Informationen zur Episode "The Nuts and Bolts of e-Auctions | with Jacob Larsen"
In this episode we are talking to Nafa Ben Haddej, behavioural scientist, about his latest insights on the value of game theory in both individual and group decision making in professional environments. Together we explore how setting the right...
In this episode we are talking to Nafa Ben Haddej, behavioural scientist, about his latest insights on the value of game theory in both individual and group decision making in professional environments. Together we explore how setting the right incentives can reduce (often unconscious) cognitive biases in corporate decision dynamics and promote better customer outcomes. Nafa Ben Haddej is a behavioural scientist who has devoted his professional life to understanding human interactions within companies and across their interactions with their customers. After graduating in Behavioural and Economic Science from The University of Warwick, Nafa took different behavioural science roles spanning both the private and public sectors and is currently applying his passion for behavioural science at NatWest Group, working in behavioural risk audit.
Erschienen: 02.03.2021
Dauer: 26:39
In 2020, the Nobel prize for economics was awarded to Robert Wilson and Paul Milgrom for their contributions to complex auction formats. In this episode of Game Changer, Stephan Knapek, Managing Partner at TWS Partners, talks about frequency auctions...
In 2020, the Nobel prize for economics was awarded to Robert Wilson and Paul Milgrom for their contributions to complex auction formats. In this episode of Game Changer, Stephan Knapek, Managing Partner at TWS Partners, talks about frequency auctions as a practical application of such complex auction formats. He explains why the state uses auctions to allocate frequency bands to telecom providers, and how these auctions are structured. He also gives insights to the strategies of the bidders, and shows how some of them exploit flaws and loopholes in the auction ruleset in order to send signals to their competitors. If you want to read more on this topic – and if you are fluent in German – you can check out Stephan’s articles in the German newspaper Handelsblatt, where he commented on the developments of the German 5G frequency auction in 2019: https://www.tws-partners.com/about-us/media/press-news/handelsblatt-5g-auction-in-germany/
Erschienen: 16.02.2021
Dauer: 26:38
