The Game Theory for Airlines: What to Do with Overbooking
With the mess that United Airlines created for itself after a passenger was dragged off a full plane, airlines are now considering adjusting overbooking policies. It is hard for airlines to use appropriate price incentive to make passengers cooperate happily and not trigger public anger, while also controlling the cost. Overbooking is actually a game […]
Once a Running Joke, LinkedIn Is Suddenly A Hot Social Network – Here’s What Changed.
At the end of 2016, Microsoft acquired LinkedIn for $26 billion, which was a move that surprised many in the industry. It had seemed that LinkedIn might be going downhill, but since then, LinkedIn has become more than just a place for professionals to connect. It has expanded into a place where marketers can connect […]
Game Theory in The Dark Knight
The Dark Knight features the eternal struggle between Batman and the Joker in a conflict between good and evil. This conflict in the movie is serious and hard to solve due to the Joker’s expertise and strategic thinking. In multiple instances, game theory can be used to analyze the Joker’s […]
Sellers & The Prisoners Dilemma
For the past few decades the housing market has been a very scary place to venture into. A couple of years ago I discussed with my parents whether we were going to buy a new home and move to a new location, and out of fright they decided that this wouldn’t be the most financially […]
Doctor’s Dilemma
Link: https://www.washingtonpost.com/news/wonk/wp/2015/09/16/how-the-doctor-patient-relationship-has-become-a-prisoners-dilemma/?utm_term=.1e09621d3267 The medical field is currently running into a problem where the patients are being overprescribed antibiotics, but since the patient’s satisfaction are being linked to the doctor’s evaluation, the doctors’ have no choice but to do so. When I went to the doctors last summer for a stomach virus, my doctor told me there […]
Structural Balance Theory and the Qatar Embargo Crisis
Back in June, several Middle Eastern countries, including Saudi Arabia, cut diplomatic ties with Qatar after accusing the country of funding terrorist organizations. They placed a trade embargo against Qatar that decreased total imports into the country by 40% within the first month. After learning about the notion of structural balance and the theories behind […]
We Miss the Old (Chronological) Insta: Use of Social Ties in the New Algorithmic Instagram
We are living in an age of social media. Instagram is one of the top social media sites among our generation, constantly trying to compete with other social media sites such as Facebook, Twitter, and Snapchat. In order to stay in the top, Instagram has released some significant updates to its features and content. One […]
Chore Auctions are the Future of Parenting
Link: http://offspring.lifehacker.com/have-a-chore-auction-with-your-kids-when-they-cant-wo-1809066285 This article pitches an interesting solution to bickering kids from The Game Theorist’s Guide to Parenting, a book by Paul Raeburn and Kevin Zollman. Having a chore auction can be used to resolve conflicts like two or more children fighting over a toy, who gets to sit shotgun in the car, what channel […]
Existing Outside a Nash Equilibrium
Nash dazzled the world with his breakthrough concept of a Nash equilibrium, a point in a game where neither player would want to switch. This discovery changed the way that scholars approached the games that define everyday life. Nash equilibriums helped understand auctions, commutes, and even dilemmas in prison. What made his work so revolutionary […]
How A Professor tested his students with the Prisoner’s Dilemma
Every year since 2008, a professor at the University of Maryland has been bribing his students with extra credit points on an essay. The students could choose to either receive 2 extra points or 6 extra points. The one caveat is that if more than 10% of the class chooses 6 extra credit points, then […]
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