You have to think about what he knows about what you know,

你得想想他对于你掌握信息的了解程度
and you have to think about what he knows about

你得想想他对于
what you know about what he knows,

你知道的他所掌握的情况的了解程度
and all that thing in the end boils down to one number,

所有这一切最后都归结于一个数字
the price.

价格
So it's a philosophically interesting problem, interactive epistemology.

这是个有趣的哲学问题交互认识论
Some people have described economics as interactive epistemology.

有些人称经济学为交互认识论
It's more complicated than standard epistemology and philosophy

远比比标准认识论和哲学复杂
because there they go in circles thinking about

因为它循环讨论
what one person knows and whether you can know

对手知道的信息和你是否知道
that you know and stuff like that.

你的对手所掌握的信息诸如此类
In economics you have to worry about what you know,

经济学中你需要关心你掌握的信息