Self Satisfying Equilibria and Online Shopping!
Recently, while I was shopping for dresses, I noticed that there were many websites that seemingly sold the exact same dress. I would find a dress that I really liked, then after reverse image searching the pictures of the dress, would find that other websites listed the same dress in their catalogs. After attending the […]
Information Cascades in Squid Games Reality TV!
Hi everyone, I would like to discuss information cascades and their application to real life. Information Cascade is a phenomenon described in behavioral economics and network theory in which a number of people make the same decision in a sequential fashion. In class, we learned about this concept using marbles. The game marble game […]
Social media Influencers and Adoption of Behavior
Understanding the conditions under which humans adopt certain behaviors can have an immeasurable impact on the likes of social networking sites, political campaigns, or even simple clothing trends and fads. I’ve particularly been interested in how companies utilize the threshold model to maximize the number of individuals that adopt their targeted behavior, whether it’s buying […]
How concepts of networks translate to real life applications, even space
This has been a great class in showing real life applications of material we learn at school. Through the semester, as we learned more concepts, I began thinking more consciously than before of the role of networks in our everyday settings and personal lives. I used what I learned to challenge myself to think of […]
Corporate Chess: Business Prisoner’s Dilemma
The Prisoner’s Dilemma presents a strategic problem in the fast-paced world of business, where organizations must balance collaboration and self-interest in a complex game. Imagine two competing companies, each with a piece on the market chessboard, debating how to proceed in this crucial match. Let’s delve into a scenario where two rival companies, Alpha as […]
Global Supply Chains and Pandemic Disruptions Through Networks Lens
The COVID-19 pandemic has served as a profound case study in the intricate world of global supply chains. When viewed through the lens of network theory, several insightful observations emerge, shedding light on the complexities and dynamics of this global web of interconnected entities. In theory, many companies sought to enhance their supply chain resilience […]
The Ripple Effect: How Network Dynamics Propel E-commerce Marketplaces to Success
The impact of network effects on e-commerce marketplaces is incredibly huge especially in today’s digital age as we see this phenomenon shaping the success and growth of many platforms. The network effect refers to where the value of a product or service increases as a direct result of more people using it. This effect is […]
Relating Animal Behavior to Learning Algorithms Through Bayesian Inferences
Introduction: Bayesian inference is at the center of many sophisticated machine learning algorithms. In this paper, we try to understand how the outcome of reinforcement learning algorithms is improved over time by analyzing animal behavior and decision making which is based upon the probabilistic models. Animals rely on these models in order to make decisions […]
Exploring Braess’s Paradox in Air Traffic Congestion: A Counter-Intuitive Approach
Air travel—the epitome of modern connectivity—is soaring to new heights, quite literally. But with this upward trajectory comes a pressing issue: congestion. As demand skyrockets and airspaces reach their operational limits, the solution isn’t just about adding more airways or links; it’s about challenging our assumptions. Enter Braess’s Paradox—a concept that might sound counterintuitive but […]
Diving into Information Cascades: How Media Connections Shape Advertisements
In a world inundated with information, the art of persuasion has evolved into a sophisticated science. One of its most potent tools? Information cascades. These cascades are the invisible currents shaping our decisions, influencing what we buy, what we believe, and even how we perceive the world around us. It’s a fascinating phenomenon that goes […]
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