Read the full transcript here. Are stock prices set by cash flows or crowd vibes? Why do bubbles last if “smart money” can short them? What should retail traders learn from GameStop and zero-commission options? When does momentum make sense - and when does it burn you? Why don’t obvious mispricings get fixed - what actually stops arbitrage? Will AI help us think clearer, or supercharge manipulation and personalized pricing? Where should regulators draw the line on gamified trading and price discrimination? Do tariffs feel good because they keep others out—even if we pay more? What does the "winner’s curse" mean for auctions, IPOs, and everyday deals? How much of what we want is copied from other people, and why does that matter for markets? Alex Imas is the Roger L. and Rachel M. Goetz Professor of Behavioral Science, Economics and Applied AI and a Vasilou Faculty Scholar at the University of Chicago Booth School of Business, where he has taught Negotiations and Behavioral Economics. Alex studies behavioral economics with a focus on cognition and mental representation in dynamic decision-making. His research explores topics related to choice under uncertainty, applied AI, discrimination, and how people learn from information. Professor Imas’ work utilizes a variety of methods, including lab experiments, field experiments, analysis of observational data and theoretical modeling. His research has been published in the American Economic Review, Journal of Finance, Proceedings of the National Academy of Sciences, Quarterly Journal of Economics, and Management Science, among others. Links: The Winner's Curse Alex's personal website Alex's Twitter Staff Spencer Greenberg — Host + Director Ryan Kessler — Producer + Technical Lead WeAmplify — Transcriptionists Igor Scaldini — Marketing Consultant Music Broke for Free Josh Woodward Lee Rosevere Quiet Music for Tiny Robots wowamusic zapsplat.com Affiliates Clearer Thinking GuidedTrack Mind Ease Positly UpLift [Read more]

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“What did the council decide on item 42?” — answered with the speaker and the moment.