The Job Market: Unemployment and Bipartite Graphs
Ever since the economic crisis that hit the U.S. with full force in 2007 we have been on a road to recovery that still has a long way to go. The job market is one aspect of the economic downturn that has, and continues to affect millions of Americans. Although times seem to be improving, […]
Bidder Psychology In Ascending-Bid Auctions
Auctions, as defined in our textbook, are helpful when the seller knows neither how much to value an object himself, nor how much potential buyers value it. In Professor Easley’s lecture, we briefly focused on the four basic types of auctions when the seller is auctioning off one item: ascending-bid auctions (or English auctions), descending-bid […]
Rock, Paper, Scissors, Game Theory, & Imitation
While many of us think we have the best strategy to win rock-paper-scissors, or roshambo as some would have it, the reality is that the best strategy to winning is to choose randomly. Nevertheless, scientists have made a discovery. In a series of studies blindfolded participants were pitted against each other, and a group of […]
Your overconfidence is your weakness… or is it?
http://news.nationalgeographic.com/news/2011/09/110914-optimism-narcissism-overconfidence-hubris-evolution-science-nature/ This article sheds light on an interesting question: can game theory prove that overconfidence is actually beneficial in certain situations? As it turns out, the answer is “yes.” According to an analysis of game theory mechanics, overconfidence is good in situations where the benefits of succeeding outweigh the cost of losing. When there is […]
Networks in Small Towns
This article discusses the structure of networks in small town and rural sections of America. It focuses on the negative effects that these usually strong networks can have. These negative effects have recently manifested themselves in the form of posts on different types of social media websites. Often new technologies take a while to catch […]
Playing Games for Airport Security
Earlier this month, it was the ten-year anniversary of the terrorist attacks of September 11th. Since then, what measures have airports taken to ensure safer travel? The major issue with airport security until recently was the limited security resources (e.g., canine patrols at airport gates, checkpoints on incoming roads), which prevented complete security coverage at […]
Playing With Our Debt
http://www.businessweek.com/magazine/the-debt-ceiling-deal-the-case-for-caving-08032011.html This article reflects on one of the United States’ hot topics this summer – the national debt ceiling crisis. We all witnessed the political game of the chess that persisted throughout the months leading up to the August 2nd deadline for debt reduction. While this event greatly showcased the deep divide between our two […]
This is not class warfare, it’s game theory.
Obama called for a tax plan that would predominantly increase the tax on upper income classes. Republicans argued against this plan by claiming that it “punishes” “job-creators” and would thereby negatively impact the economy. Obama responded by stating that” This is not class warfare, it’s math”. Economically speaking, increasing taxes on upper income classes […]
Networking With Your Brothers and Sisters
http://www.nytimes.com/2003/07/13/style/how-to-move-up-the-sorority-track.html?ref=fraternitiesandsororities An article by New York Times writer, Ruth La Ferla, cites a few examples of how a Norfolk State University grad, Feona Sharhran Huff, jump-started her career as writer in a matter of weeks after she moved into New York City shortly after graduating. Her secret on how she did this was as simple […]
A reason to finally accept that friend request from your mom
The 8/26/2011 New York Times article “Half of America is Using Social Networks” by Somini Sengupta explores the recent increase in adults in America using Facebook. Fifty percent of American adults report that they are active Facebook users—up 45% from 2005 (just six years ago!) when the same survey was conducted. The article also highlights […]
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