Automated electronic tolls to equalize street speeds
Article: http://app.lta.gov.sg/ltaacademy/doc/ERP%20in%20Singapore%20-%205%20years.pdf In 1998, the nation of Singapore adopted a system entitled Electronic Road Pricing in order to combat congestion in the central city’s busiest districts. Motorists wanting to enter the districts would have to install boxes in their vehicles that communicate with the toll stations upon entering, which would then charge the card […]
Game Theory in Tumor Microenvironment
It is the conventional wisdom for chemical and biomedical engineers to think of the human body as a factory when it comes to absorbing nutrients or substances and outputting products, all the while using signals to communicate and decide how to do those necessary chemical conversions on the microscopic/cellular scale. This resulted in the extensive […]
Choosing the Optimal Marketing Strategy: A Game Theory Application
Marketing strategy plays an extremely important role in a market where competitors are targeting the same customer base with exactly identical or similar products. Every firm or brand operating in a competitive market needs to choose from two main marketing strategies: advertisement expenditure and product discounting. While expenditure on advertisement helps the brand to differentiate its […]
Game Theory and Cell Phone Plans
Wireless carriers are always launching “revolutionary” cell phone plans. You might remember back in 2013, T-Mobile changed the market with their “Jump” plan, a.k.a. “Just Upgrade My Phone”. Soon to follow, AT&T announced their “Next” program, which was basically the same plan, with slightly different terms and conditions. In response, Verizon introduced their early Edge […]
eBay auctions give “buying time” new meaning
Do you want the new iPhone 6? Do you hate waiting in lines? Are you willing to drop some extra cash? If you answered “yes” to the above questions, you might want to check out the iPhone 6 auctions on eBay. An interesting internet phenomenon has been transpiring on eBay’s auction site around the release […]
Game theory behind parenting methods
The story ‘game theories secrete of parents’ introduced a great parenting solution of 5 different kinds of dilemmas that all parents experienced while raising their kids. First, the picking dilemma expressed a great way ‘tit or tat’ to let kids volunteer to clean up their toys instead of being forced to clean up toys. Secondly, […]
Healthkit: A Network of Too Much Information
Apple has recently released Heathkit, its new health and fitness tracking app. Although postponed due to a few bugs, apps such as MyFitnessPal and FitPort have just released updates to work with Healthkit. Apple intends to fix a “problem” with health apps: data sharing. There are many health apps out there that track a great […]
Parking: An Exercise in Matching
From a network perspective, parking is a classic matching problem. If we consider the set of all available parking spaces in a geographic area to be the “sellers”, and the set of all drivers with their cars searching for a parking spot to be “buyers”, then the parking market can be represented as a bipartite […]
Let Debt Lead you to Success
For decades, hundreds of thousands of people have been haunted by debt, whether big or small. For business owners, there is an optimal level of debt that if achieved, they can have a flourishing business. This is assuming that business owners use their borrowed money in a productive, efficient manner. Interest rates for loans are […]
Financial Takeovers and Auction Theory
Perhaps the most heated corporate takeover battles currently is Valeant Pharmaceuticals’ attempted control of Allergan, the maker of Botox and other products. Over the past 5 months, Valent’s bid for Allergan has increased substantially from $45.7 billion to $53 billion, with bids all substantially above Allergan’s market capitalization at the time. In corporate finance mergers […]
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