#250: The Art of Strategy

Whether you’re a businessman, a statesman, a general, or a parent, you’re strategizing on a daily basis. So how do you do it better? My guest today will provide some insights. His name is Barry Nalebuff. He’s a game theory expert and the author of "The Art of Strategy: A Game Theorist's Guide to Success in Business and Life." On the show Barry and I discuss how game theory can help you make better strategic decisions in all sorts of situations. We explore why threatening to punish your child’s sibling for bad behavior might be a more effective strategy than threatening to punish the child himself, what Donald Trump can teach us about the promise and perils of injecting randomness into your strategy, and how you can use game theory against yourself to lose weight or even quit smoking.