Colin Camerer: When you're making a deal, what's going on in your brain?

The video explores the intersection of game theory and neuroscience to understand social interactions. It introduces game theory concepts like cognitive hierarchy and equilibrium analysis, highlighting their applications in economics and strategic thinking. The video examines brain activity during strategic games using fMRI and EEG, revealing insights into human and chimpanzee behavior. It concludes with a comparison of strategic thinking between humans and chimps, showing chimps' superior adherence to game theory.

What is the cognitive hierarchy theory mentioned in the text?

Discuss the implications of the findings related to bargaining games and brain activity.

What does the text suggest about the competitive abilities of chimpanzees compared to humans?

Summarize the key takeaways from the text regarding strategic thinking in humans and chimps.