Game Theory, Politics & Society
CEO India|August 2019

Economist Alexander Wolitzky uses game theory to model institutions, networks, and social dynamics

Peter Dizikes
Game Theory, Politics & Society

Alexander Wolitzky leans back in his office chair, pauses, and starts to describe “Cycles of Conflict: An Economic Model,” a journal article he co-authored.

“There’s a simple idea in that paper,” Wolitzky offers, describing its thesis: While conditions of mistrust can lead to political violence, they may also change as antagonists better understand their opponents, leading to an eventual reduction of hostilities.

Wolitzky’s work is a blend of streamlined concepts like this and complex social phenomena. A professor in MIT’s Department of Economics, he deploys game theory — the formal study of strategic decision-making — to illuminate observed behavior across a range of political and social institutions. Almost no topic is off limits: Wolitzky builds models concerning war and international affairs, labor relations, networks, technology adoption, and more.

“We have the view that economic institutions, the way governments are set up, norms, laws, are all very important for economic development, for growth,” Wolitzky says. “But they can be vague concepts: What do these things mean?” His work digs into the mechanisms underlying those concepts.

Take “Cycles of Conflict,” which appeared in the American Economic Review in 2014, co-authored with colleague Daron Acemoglu. As the paper notes, analysts have observed that misperception and distrust have led to violence and warfare in many geopolitical situations — Uganda, Kenya, Northern Ireland, the Balkans, and more. Indeed, as Acemoglu and Wolitzky point out, it was also the explanation Thucydides offered for the origins of the Peloponnesian War.

This story is from the August 2019 edition of CEO India.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the August 2019 edition of CEO India.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM CEO INDIAView All
CEO India

Five Ways To Win The Consumer Of 2030, Now

To win the data and technology-enabled “smart consumer” of tomorrow, discover the five things every consumer-facing business must do right now

time-read
7 mins  |
February 2020
CEO India

TWENTY FOR ‘20

WILL THE NEW DECADE BE AS TRANSFORMATIVE AS THE LAST? EY EXAMINES THE QUESTIONS THAT WILL SHAPE THE NEXT DECADE

time-read
9 mins  |
February 2020
ROBOTS ON THE MOVE
CEO India

ROBOTS ON THE MOVE

THE MARKET FOR PROFESSIONAL SERVICE ROBOTS IS POISED TO TAKE OFF WITH A VENGEANCE, FUELED BY NEW DEVELOPMENTS IN 5G TELECOM SERVICES AND AI CHIPS

time-read
9 mins  |
February 2020
CEO India

POST-DIGITAL CULTURE SHOCK

COMPANIES AROUND THE WORLD ARE FOCUSING ON DIGITAL TRANSFORMATION, BUT MANY ARE OVERLOOKING THE CULTURE CHANGE NECESSARY FOR SUCCESS

time-read
5 mins  |
February 2020
FROM LOCAL TO GLOBAL
CEO India

FROM LOCAL TO GLOBAL

Winning sales organisations excel at these five essential capabilities

time-read
8 mins  |
February 2020
Shooting for the Stars
CEO India

Shooting for the Stars

MANFRED BAUMANN SHARES HIS INSIGHTS INTO PROFESSIONAL PORTRAITURE

time-read
4 mins  |
February 2020
FLYING WHILE BLIND
CEO India

FLYING WHILE BLIND

I AM NOT ONLY AN EXPERIENCED TRAVELER; I AM AN EXPERIENCED BLIND PERSON…

time-read
5 mins  |
February 2020
CEO India

THE ALCHEMIST OF HOSPITALITY

Puneet Chhatwal, the CEO and MD of Tata Group’s hospitality arm Indian Hotels Company, talks about how his company is reimagining and repositioning some of its most renowned brands, raising the hospitality bar, with an eye on the evolving customer and emerging concepts and trends

time-read
8 mins  |
February 2020
CEO India

Robots Can Go All The Way To Mars, But They Can't Pick Up The Groceries?

In the popular imagination, robots have been portrayed alternatively as friendly companions or existential threat. But while robots are becoming commonplace in many industries, they are neither C-3PO nor the Terminator. Cambridge researchers are studying the interaction between robots and humans – and teaching them how to do the very difficult things that we find easy.

time-read
5 mins  |
January 2020
How To Create A Growth Mindset?
CEO India

How To Create A Growth Mindset?

A growth-oriented mindset must be cultivated among the employees for business growth and sustenance. It requires a good understanding of people and what drives them

time-read
5 mins  |
January 2020