“More art than science” – Translating game theoretic predictions into practical recommendations | with Eyal Winter

In this episode we are talking to Economics Professor Eyal Winter, who works as both an academic researcher and as a consultant who supports his clients in various auction settings. We discuss how consulting differs from theoretical research, and how to best behave in an auction setting. Eyal also shows how emotions can sometimes strongly influence people’s behaviour in auctions.   Eyal Winter is the Silverzweig professor of economics at the Hebrew University and the Andrews & Brunner professor at Lancaster University. His research interests are broadly spread, ranging from Behavioural Economics to Decision Making, Game Theory and Finance. He is also the author of the book “Feeling Smart - Why Our Emotions Are More Rational Than We Think”, in which he explores the use and logic in emotions.   During the interview, Eyal mentions a spectrum auction in New Zealand, which yielded a very disappointing outcome for the New Zealand government. More information on this auction can be found e.g. here and here.