Ep. 269: Robert Aumann Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Business, Investing

4.6 • 732 Ratings

🗓️ 29 August 2014

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Robert Aumann, the fourth Nobel Prize winner to appear on this podcast. Aumann is an Israeli-American mathematician, and a member of the United States National Academy of Sciences. He is a professor at the Center for the Study of Rationality in the Hebrew University of Jerusalem in Israel.

The topic is game theory.

In this episode of Trend Following Radio we discuss:

Conflict and cooperation through game theory analysis
World via his game theory perspective
Meeting John Nash and Aumann's early background
What game theory is trying to accomplish
The economic definition of rationality
The idea of a strategy matrix
The world champions of peace and the best way to maintain peace
The 2008-09 bailouts from Aumann's perspective and a game theory outlook
Behavioral economics
Game theory, diplomats, and the Cuban Missile Crisis
The existence of nuclear weapons and the Cold War

Jump in!

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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is Trend Following Radio, where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel, not filtered, raw, honest.
0:27.3	That's my passion.
0:32.8	Today I'm very pleased to welcome the fourth individual to appear in my podcast who has won a Nobel Memorial Prize in Economics.
0:44.8	Today, Robert Aumman joins me to discuss his work on conflict and cooperation through game theory analysis.
0:54.8	He's just got a really interesting way of looking at the world.
1:00.4	And we're talking about going back in time here.
1:03.1	So Robert brings a fantastic perspective.
1:07.3	He first heard about game theory from John Nash.
1:11.6	John Nash of the movie fame, A Beautiful Mind.
1:16.1	I'm very lucky, very fortunate to have some of the brightest people alive today up here in my podcast.
1:23.6	I hope you enjoy.
1:31.9	Good. I hope you enjoy. Got my first degree at City College of New York, and I did a doctorate at MIT.
1:38.2	After that, yes, it's true.
1:39.7	After that, I did a post-doctorate at Princeton, two years.
1:43.3	And that's where I was going.
1:44.8	What I was going at was at Princeton.
1:47.5	That was where you had a chance to either meet or hear John Nash, and that was your first
1:53.0	exposure to game theory.
1:55.2	No, that's also not quite correct.
1:57.7	My first, I met John Nash, not at Princeton, but at MIT, where I did my
	...

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