Don't Hate The Players, Learn The Rules Of The Game (Theory)
This week, Congress has been pondering yet another deal with a deadline. Congressional leaders have agreed to a bipartisan budget that would set spending levels for the next two years, and if it passes, as expected, it would mark the first bipartisan budget deal since 2011. News of the deal comes again at the last minute, just as Congress begins packing its bags to adjourn for the holidays.
For many, though, several questions may remain. Why do our elected officials spend so much time hammering out these deals? Why do they seem so tortured? And why does everything have to be done at the eleventh hour?
One answer, surprisingly, may have its roots in mathematics. Author Tim Harford argues that some of the most puzzling (or alarming) negotiating tactics we see from our elected leaders come straight from game theory. And on All Things Considered, he suggests a book to walk us through it.