OUR GAME THEORY PODCAST

In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. Guests from industry and academia discuss the power of game theory in their profession and how they use it to make a difference. Along the way we strive to offer fun anecdotes, useful facts and valuable insights. Hear us out and find out that game theory is much more than a topic for ivory tower discussions.

 

THE PRICE OF A PILL: GAME THEORY AND THE PHARMACEUTICAL INDUSTRY | WITH OLIVER VIEHMANN
September 14, 2021
September 14, 2021
In this episode, we talk to Oliver Viehmann, Principal at TWS Partners, and explore the application of game theory to pricing strategies and negotiations in the highly regulated pharmaceutical industry. We discuss how pharmaceutical companies engage with regulators across the world to determine drug prices using two broad mechanisms: regulatory cost-effectiveness pricing and competitive procurement mechanisms (e.g. contracting or tendering). With reference to the highly publicized "Volume Based Procurement" program in China, we delve into the game theoretic complexities and challenges for both payers, who create auction designs, and manufacturers, who compete to win contracts. Oliver Viehmann is Principal at TWS Partners and supports clients in the pharmaceutical sector, in addition to a range of other industries.
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
HOW TO PREDICT EMERGING MARKET POWER USING GAME THEORY | WITH PHILIPP HELLER
August 03, 2021
August 03, 2021
In this episode we talk to Philipp Heller, expert on mergers, antitrust and competition to elaborate on why game theory is relevant to merger analysis. We discuss how game theory can help predict effects of market consolidations for some of the most prominent examples in recent years. While the intended merger of Vonovia and its largest rival Deutsche Wohnen, which would have formed the largest residential-property company in the whole of Europe, was recently rejected by shareholders, the German Federal Cartel Office (FCO) gave its blessing to the transaction. We explain some ideas from game theory that are useful for antitrust authorities like the FCO when analysing this and other mergers. Philipp Heller is an Associate Director at NERA Economic Consulting. There he has focused on topics such as cartel damages litigation, national and international merger notifications, and regulatory procedures. Previously Philipp completed his PhD in Economics at Humboldt University of Berlin.
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
IT’S A MATCH! HOW ECONOMISTS IMPROVE MECHANISMS FOR KIDNEY EXCHANGE | WITH JULIEN COMBE
July 20, 2021
July 20, 2021
In this episode Julien Combe, professor of Economics at École Polytechnique, walks us through the intricacies of finding the right matching mechanism for kidney exchanges. We talk about general challenges when trying to find a match, the impact of different regulations in different countries and how a single altruistic donor can set off a whole chain of successful exchanges. Julien Combe is professor at the Department of Economics at École Polytechnique in France. In his research he focuses on market design and especially the design of efficient allocation mechanisms in various environments. Among other things the results of his research help inform policy makers and regulators in France when it comes to matching markets.
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
FROM A SPARK TO A FLAME: THE RISE OF GAME THEORY AT GENERAL MOTORS | WITH MARC ROBINSON
July 06, 2021
July 06, 2021
In this episode Marc Robinson, strategy and risk management expert, takes us back to when he first applied game theory to real-life business problems at General Motors. He shares his insights on how to identify problems well suited for game theoretic tools as well as benefits and common misconceptions when applying them to negotiations of all kinds. Marc Robinson now works as an independent strategy and risk management consultant, following a career as an internal consultant and economist at General Motors. It was there that he first introduced game theoretic concepts and tools, applying them to a vast range of applications such as strategic product or investment decisions, or negotiations with partners, suppliers, and unions. He also taught at UCLA and Stanford and worked on the Council of Economic Advisers under President George H.W. Bush.
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
RATIONING SUPPLY – OR HOW GOOD INTENTIONS CAN LEAD TO A BAD OUTCOME | WITH MARION OTT
June 22, 2021
June 22, 2021
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 https://www.zew.de/team/mot In particular, Marion recently published two papers on endogenous rationing, which you can find here https://www.zew.de/publikationen/a-small-volume-reduction-that-melts-down-the-market-auctions-with-endogenous-rationing (in English) and here https://www.zew.de/publikationen/endogene-rationierung-in-ausschreibungen-fuer-erneuerbare-energien (in German only).
Marion's website
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
SUPER LEAGUE, SUPER MARKET POWER? | WITH JAN EECKHOUT
June 07, 2021
June 07, 2021
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" (https://www.theprofitparadox.com/).
Learn more about The Profit Paradox
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
IS GAME THEORY DANGEROUS? | WITH DAVID MCADAMS
May 25, 2021
May 25, 2021
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): o Learning through the grapevine: The Impact of Message Mutation, Transmission Failure, and Deliberate Bias: https://dl.acm.org/doi/10.1145/3391403.3399521 o 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 o 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.
David's website
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
MARKETS & MORALS – TWO CONTRADICTING CONCEPTS? | WITH VITALI GRETSCHKO
May 11, 2021
May 11, 2021
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
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
CAN YOU TRUST MARKET RESEARCH SURVEYS? – HOW GAME THEORY REVEALS WHAT PEOPLE ARE REALLY PREPARED TO PAY | WITH ANOUAR EL HAJI
April 27, 2021
April 27, 2021
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 (https://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.
Veylinx
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.
WHY CHEAPER ISN’T ALWAYS BETTER – THE EFFECT OF ZERO PRICES IN THE ELECTRICITY MARKET | WITH ROBERT IDEL
April 13, 2021
April 13, 2021
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/).
Robert's website
Your current privacy settings do not allow loading shared content from Libsyn. Click here to change your settings and allow loading of Libsyn contents.