Hi, this is Glenn Lowry. What you're about to see is a clip from the bonus episode that just got published in the subscriber-only feed at glenlawry.substack.com.

Now, if you want to listen to the full thing, you're going to have to go to glenlawry.substock.com and subscribe to become a full member of the

Glenn Show community. This week's main episode, which comes out on Friday, has also been

available to members since yesterday. I really appreciate your support. It's what makes the show

possible. So thank you very much.

This week's episode, a conversation with Rajiv Setti, the economist at Columbia University.

And the bonus episode is a reflection on that conversation where I chat with my team, Mark Sussman and Nikita Petrov.

So enjoy this clip and consider becoming a full member of the community. Thank you.

Is this madman theory? You know what I'm talking about?

Yeah, I think I know what you're talking about. You can see the other guy that you might

push the button, even if it's irrational to push the button.

And he's afraid he's dealing with a nut.

And therefore, he backs off.

It doesn't start confronting with the option pushing the button.

So the flesh this out a little bit in a more extensive form of game theory.

You have branches of a tree.

You know, I move left or right.

It's your move.

You move left or right.

We can go down the tree.

Where the threat to go a particular way is not credible in the sense that it would appear

to not be in your interest, except it's very much in the disinterest of the other party

...