The concept of the "Prisoner's Dilemma" has been studied for over 60 years for its insights into political, military, and economic affairs. The scenario involves two criminals who must decide whether to cooperate or betray each other, with each facing different consequences based on their actions. This dilemma highlights the conflict between self-interest and cooperation, and how rational individuals acting in their own self-interest can bring about the worst-case scenario. Learning about this concept can help students understand the importance of cooperation and the dangers of solely focusing on individual self-interest. It also has practical applications in fields such as politics, economics, and international relations. By exploring this concept through reading, reflection, and self-directed projects, students can gain a deeper understanding of human behavior and decision-making.

In academic settings, arguments are often used to convince others of a particular point of view. However, not all arguments are created equal. The success of an argument depends on understanding the audience's beliefs, trusted sources, and values. Mathematical and logical arguments work well because they rely on shared beliefs, but disagreements that involve outside information often come down to what sources and authorities people trust. When disagreements can't be settled with statistics or evidence, making a convincing argument may depend on engaging the audience's values. The challenge is to correctly identify what's important to people who don't already agree with us. Engaging in discussion and being exposed to counter-arguments can help make our own arguments and reasoning more convincing. By understanding the elements that make arguments successful, students can become more effective communicators and critical thinkers in both academic and real-world settings.

Delve into the world of game theory and discover how it revolutionized economics and social organization. John von Neumann and Oskar Morgenstern's groundbreaking mathematical theory, first published more than sixty years ago, has since been widely used to analyze real-world phenomena including arms races, vaccination policy, and even major league baseball salary negotiations. This sixtieth anniversary edition of Theory of Games and Economic Behavior includes an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews from the New York Times and the American Economic Review. Discover the work whose influence will resound for generations to come. Recommended for students of economics, mathematics, political science, and sociology, as well as professionals in the fields of policy-making, game design, and business strategy. This book is also relevant to anyone interested in understanding how mathematical models can be used to analyze complex social phenomena. Whether you are curious about how game theory applies to presidential elections, vaccination policy, or even major league baseball salary negotiations, this book provides a fascinating introduction to the subject. Moreover, the book includes reviews and articles from the time of its original publication, providing readers with a historical perspective on the development of game theory as a field of scientific inquiry.

Can AI-generated persuasive appeals sway human opinions on hot social issues? Stanford researchers find out. Chatbots' political persuasion has significant implications for democracy and national security. Discover how AI fared in the experiment and why it calls for immediate consideration of regulations.

Information overload is a growing concern in today's world, where technology has made it easier for businesses to access vast amounts of data. However, this has led to the paradox of too much information and too little time, leading to individuals and organizations struggling to make informed decisions. The impact of information overload on decision making has become a major topic of discussion among leading academics, such as Daniel Kahneman and Richard Thaler, who have explored the role of heuristics and biases in decision making. Studies have shown that individuals who have access to more information tend to experience increased anxiety and stress, leading to poor decision making and decision avoidance. Businesses have taken advantage of this by presenting their customers with an overwhelming amount of information to make their decision more difficult, often leading to impulsive purchases. This practice, known as 'nudge theory', was popularized by Thaler and Cass Sunstein, who argued that by presenting individuals with a small change to the environment, they can be influenced to make a different decision. An example of how businesses use information overload to their advantage is the use of advertisements on social media. Advertisers use algorithms to determine which advertisements to show to each user, often leading to an endless scroll of irrelevant or unwanted advertisements. This leads to individuals feeling overwhelmed and bombarded, often leading to impulsive purchases, simply to make the advertisements stop. To prevent falling victim to information overload and poor decision making, it is important to practice critical thinking and to seek out reliable sources of information. This can be done by asking questions, seeking out multiple perspectives, and by taking the time to reflect on one's own thoughts and feelings. In conclusion, by understanding how businesses use information overload to their advantage, we can make more informed decisions and take control of our own lives.

Does money buy happiness? Research shows that, on average, larger incomes are associated with ever-increasing levels of happiness. But the relationship becomes more complex when considering emotional well-being. An adversarial collaboration between researchers from Princeton and Penn universities reconciles contradictory findings and shows that, while most people experience greater happiness with larger incomes, an unhappy cohort in each income group shows a sharp rise in happiness up to $100,000 annually and then plateaus. For everyone else, more money was associated with higher happiness to somewhat varying degrees.

In today's digital age, we're surrounded by algorithms that shape our daily lives in ways we may not even realize. From social media algorithms that decide what content we see to predictive policing algorithms that influence law enforcement decisions, algorithmic culture is ubiquitous and powerful. So, what is algorithmic culture, and how does it shape our lives and perceptions? At its core, algorithmic culture refers to the way algorithms and the data they process have become embedded in contemporary culture. According to Lev Manovich, a leading academic in the field, algorithmic culture is "a new way of producing and representing knowledge based on data analysis, and a new form of power." In other words, algorithms are not just tools but are also shaping the way we understand and interact with the world around us. One example of algorithmic culture in action is the use of predictive algorithms in the criminal justice system. Proponents argue that these algorithms can help prevent crime by identifying high-risk individuals before they offend. However, critics argue that these algorithms reinforce existing racial biases and lead to unfair treatment of certain groups. Another example is the use of recommendation algorithms on social media platforms. These algorithms decide what content we see based on our past behavior and interests, creating a "filter bubble" that can limit our exposure to diverse viewpoints. Despite its potential pitfalls, algorithmic culture also offers new opportunities for creativity and innovation. For example, computer-generated art is a growing field that harnesses the power of algorithms to produce unique and compelling works. As we navigate our increasingly algorithmic world, it's important to understand the ways in which these tools shape our lives and perceptions. By engaging with academic research and exploring new ideas, we can become more informed and empowered citizens in the digital age.

The Imperial College Business School conducted a study that reveals the wealth gap in the US has grown faster than in Europe, and the primary cause of this phenomenon is the significant increases in stock market prices. The research aims to explore the reasons behind the growing wealth inequality in the US and identify the necessary actions to address it.

In the world of risk and prediction, are you a hedgehog or a fox? The philosopher Isaiah Berlin wrote about the two animals, with the hedgehog knowing one big thing and the fox knowing many things. Political scientist Philip Tetlock found that foxes were better at predicting than hedgehogs, who were too confident in their forecasts. To be a good forecaster, one needs to be open to new knowledge, have insight into biases, and be willing to acknowledge uncertainty and change their minds. Rather than saying what will happen, good forecasters give probabilities for future events. So, are you willing to be a fox and adapt to changing circumstances, or will you be a hedgehog and stick to one overarching way of looking at the world? By being a fox, you can improve your ability to predict and make better decisions for the future.

Want to make social media a more positive and inclusive space? Researchers from King's College London and Harvard University have created a framework to prioritize content that fosters positive debate, deliberation and cooperation on social media. Algorithms that surface content aimed at building positive interactions could be more highly ranked, leading to more meaningful online interactions and a reduction in destructive conflict.

Andrew Ross Sorkin's "Too Big to Fail" is a gripping account of the financial crisis that shook the world economy to its core. With unprecedented access to the key players involved, Sorkin takes us behind the scenes of secret meetings in South Korea, the corridors of Washington, and the corner office at Lehman Brothers. The book is a real-life thriller, revealing never-disclosed details and the decisions made on Wall Street that sowed the seeds of the debacle. This is a must-read for anyone interested in the world of finance, politics, and the fate of the global economy. Recommended for finance enthusiasts, political science students, and anyone interested in understanding the causes and consequences of the 2008 financial crisis. This book provides a moment-by-moment account of how the crisis developed into a global tsunami, with unprecedented access to the key players involved. It sheds light on the decisions made on Wall Street that led to the collapse of Lehman Brothers and the subsequent bailout of the world's biggest banks. Anyone looking to gain insights into the workings of the finance industry and the role of politics in shaping the global economy will find this book a fascinating read.

Jaron Lanier, the father of virtual reality, presents a daringly original critique of our digital networks in his book, "Who Owns the Future?". He argues that the concentration of money and power in these networks has led to the recession, endangered privacy, and hollowed out the middle class. Lanier predicts how technology will transform our humanity and offers a path towards a brighter future, proposing an information economy that rewards ordinary people for what they do and share on the web. This provocative and deeply humane book is a must-read for anyone interested in the intersection of technology, economics, and society. Recommended for students of economics, computer science, sociology, and political science, as well as professionals in the tech industry and policymakers interested in the impact of technology on society. The book's exploration of the concentration of money and power in digital networks and its effects on the economy, privacy, and the middle class is relevant to anyone concerned with the future of work and the role of technology in shaping society. Furthermore, Lanier's proposal for an information economy that values the contributions of ordinary people offers a refreshing alternative to the current state of affairs.

Effective altruism has been a cornerstone in solving global problems, relying heavily on quantitative metrics. But what about the ideas, experiences, and problems that resist quantification? Let's explore how we can create a more nuanced and inclusive framework for giving that incorporates unique passions.

New research by Takuo Sugaya (Stanford Graduate School of Business) and Mitsuru Igami (Yale Department of Economics) reveals the conditions needed for illegal cartels to survive and the factors that lead to their failure. Using game theory to analyze one of the biggest cartel cases in modern history, the researchers discovered that sustained collusion requires mutually beneficial incentives for all companies involved. Findings have implications for policymakers and regulators in their approval of mergers and investment in innovation.

Do you ever wonder why prices seem to go up every year? That's called inflation, and it's an important economic concept to understand. Inflation can impact everything from the cost of your groceries to the availability of jobs. While a little bit of inflation is healthy for the economy, too much can cause problems for households and businesses. As a high school student, learning about inflation can help you better understand how the economy works and how it affects your daily life. By understanding inflation, you can make better financial decisions, plan for your future, and even contribute to a healthy economy. Don't be afraid of the term "inflation" – it's a fundamental concept that you can learn and use to your advantage.

Customers feel better when decisions are made in their favor by a person rather than an algorithm. But why is this the case? A new paper by Wharton marketing professor Stefano Puntoni and colleagues explores the psychological reasons behind customer's positive and negative reactions to decisions made by humans vs algorithms.

Have you ever wondered what goes on in the minds of judges as they make decisions in our legal system? In 'The Behavior of Federal Judges', a political scientist, an economist, and a judge team up to unravel the mystery of judicial decision-making. Through statistical analyses and a labor-market model, they reveal how judges are motivated by both financial and non-financial factors, and how ideology plays a role in decision-making at different levels of the federal judiciary. This book offers a fascinating insight into the complex world of judicial behavior, dispelling traditional legalist and political science theories. Join the authors on a journey to uncover the truth behind the robes." Recommended for law students, legal professionals, political scientists, and anyone interested in the workings of the American legal system. This book provides a unique perspective on judicial decision-making, using a labor-market model to explore the motivations of judges. It dispels traditional legalist and political science theories, highlighting the role of ideology in decision-making at different levels of the federal judiciary. This book is relevant to those interested in the intersection of law and economics, as well as those interested in understanding the complexities of the judicial system. It offers a fascinating insight into the minds of judges, and how they navigate the intricate web of legal and ideological factors that shape their decisions.

The topics of securitisation and the global financial crisis are not just about numbers, facts, and statistics, but also about human failure, greed, and risk. It's a tale of how a small spark in the world of finance led to a massive explosion that shook the global economy to its core. Let's start with the basics. Securitisation is the process of pooling together various financial assets and then selling securities backed by those assets to investors. The idea behind securitisation was to spread the risk of default among many different investors and make the financial system more stable. However, the reality was far from what was promised. The global financial crisis of 2008 was triggered by the collapse of the housing market, which had been the backbone of the securitisation industry. The crisis was caused by the failure of the rating agencies, who were supposed to assess the risk associated with securities, but instead, gave high ratings to securities backed by risky loans. Ever heard of the term NINJA loans? No Income, No Job, No Assets - these were the types of loans that were being securitised and sold to investors. The financial industry was full of these loans, and the ratings agencies were happy to give high ratings to these securities, leading to the financial crisis. Leading academics such as Raghuram Rajan and Joseph Stiglitz have made significant contributions to the field of securitisation and the global financial crisis. Rajan highlighted the dangers of the financial system's reliance on securitisation, while Stiglitz criticised the rating agencies for their role in the crisis. We hope this write-up has inspired you to dive deeper into the world of securitisation and the global financial crisis. It's a fascinating topic with real-life examples and lessons to be learned. So, grab a book, turn on a documentary, or start a project, and let your imagination take you on a journey to a world of risk, failure, and exploration.

Have you ever wondered what life would be like without the state? The idea of living without rulers may seem strange, but it's been done before. Archaeology shows our ancestors lived in peace for thousands of years before armed rulers appeared. Without the state, life would be less complicated, divisive, and confusing. Poverty would be slashed, and enterprise and innovation would flourish without the regulation that favors large corporations. We would do things voluntarily, and our cooperative and charitable nature would flourish. We could even develop a less rigid justice system that benefits from a reduction in crime and fear. The benefits of learning about the state and its role in society are both intellectual and practical. You'll gain a better understanding of the world around you and how it functions. You'll also be equipped with the knowledge to develop structures that self-govern from the bottom up, evolving as times change. So, let's explore the concept of the state together and see how we can thrive without it!

Are you using AI-powered writing assistants to help you with your school work? A new study from Cornell University has found that these tools not only put words into your mouth but also ideas into your head. The study shows that the biases baked into AI writing tools could have concerning repercussions for culture and politics. Co-author Mor Naaman, professor at the Jacobs Technion-Cornell Institute at Cornell Tech, warns that apart from increasing efficiency and creativity, there could be other consequences for individuals and society. Read more about this groundbreaking study at Cornell University.