The Scientific Art of Negotiating with a Possibly Irrational Opponent - William Spaniel

[TexasTowelie]

We live in an era where multiple major world leaders have the perception of behaving irrationality. How should the opponent of such a leader negotiate in such cases? It turns out, what makes the situation more interesting is how a rational leader should behave if others think he may be irrational. This is known as the "madman theory" of international relations. Today, we take a deep look into it and see that the benefits of being a perceived madman are fleeting.

0:00 Irrational Threats in the Modern Era
3:10 Threats and Escalation in International Relations
5:16 How Rational Actors Make Threats
7:16 Negotiating with a Possible Madman
10:06 Problems with the Madman Theory