LinkedIn Ranking
LinkedIn has been on the social media rise since its launch in early 2003. The website connects users from various backgrounds including: employment, education, and other professional activities. Using a ranking system that resembles the PageRank topic discussed in class, LinkedIn finds those who are suitable professional links. These links are possibilities that one should […]
PageRank in Other Societal Aspects
In 1998, two Stanford students introduced the idea of PageRank as the basis for their search engine, Google. This algorithm would be able to sort results based on relevance and quality. David Gleich describes Google’s PageRank: “It’s sort of like Google invented a lens; if you have different combinations of lenses, you can look at […]
PageRank with Google
PageRank is vital for getting a certain site to the top of the search results on Google or any other search engine. Here we will be specifically talking about Google and Search Engine Optimization (SEO). Google is considered to be the best search engine for users to complete searches on. This is because it provides […]
Chimps Surpass Humans in Conforming to Game Theory
http://www.scientificamerican.com/article/chimps-outplay-humans-in-brain-games1/ An game was set up in which two different players have two potential moves. Each player can either choose to press button 1 or button 2. The catch is that player A wins if both players press the same button. Player B wins if the two buttons differ. This game is performed repetitively, forcing […]
Information Cascade and the Housing Bubble
Information cascades arise when individuals rationally choose identical actions despite having different private information. Cascades have arisen in a variety of settings, including technology adoption, medical treatment, and financial markets. In economic and financial environments in which decision makers have imperfect information about the true state of the world, it can be rational to ignore […]
At least I’ll be Paid…
This past summer on a lunch break at my internship, I came across an article “Don’t send your kid to the Ivy league”. As I read through the article, I couldn’t help but think about why I had chose cornell. Why the Ivy League? Often in the midst of high stress times I wonder if […]
The Dominant Strategy for eBay Auction Bidding
https://www.stat.berkeley.edu/~aldous/Research/Ugrad/selene_xu.pdf The article above found that there’s consistently around 5% price premium of ebay auction ending prices in comparison to market prices. And the reason for such premium is due to the fact the following: 1. In reality, not all bidders have perfect market information on price 2. Basic structure of ebay bidding platform allow […]
Game Theory in Evolution
Like every other situation that involves decision making, the evolution of some types of animal behavior can be modeled using game theory. Many common decisions faced by organisms can be represented using the Prisoners’ Dilemma in which two prisoners must decide whether or not confess and face the consequences based on the other’s decision; organisms […]
Advertising Desirability based on Keyword Search
A recent behavioral study from the Columbia Business School shows evidence that the specific keyword used by a consumer in a search engine can predict the chance that the consumer will click on a directed advertisement. If the consumer searched for a more specific term, they are much more likely to click on a relevant […]
Advertising on Social Media: A Better Alternative?
We learned in class and in Chapter 15 about how keyword-based advertising works online. Google uses this type of advertising and charges based on number views and the clicked-on rate. This creates a market-based advertising, Google uses a generalized 2nd price auction. If we recall from Chapter 9, in a 2nd price auction, the dominant […]
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