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Spiteful Auctions

Spiteful Bidding in Sealed-Bid Auctions This paper explores what happens when bidders in an auction are spiteful. That is, bidders derive value from their success relative to their competitors. Such scenarios can occur in competitive situations, closed markets, or more generally when the loss of a competitor will likely lead to future gains. For […]

One Fan, the Internet, and 24 Hours

Last week, the xx, a British indie pop band, released an online stream of their new album to just one fan. There was no news release, no facebook post, no website update – the only knowledge of this new album was in the hands of one loyal fan. After supposedly an hour of “hogging” the […]

Twitter Lessons and Game Theory In this article titled “9 Twitter Business Lessons From Tennis Pros”, the author talks about how Twitter can be best used to endorse and improve businesses.  Each of the nine lessons are taken from different professional tennis players, and interpreted as strategies for businesses.  For example, lesson number 1 is taken from Novak Djokovic’s […]

Poker Strategies: Game Theory

The news article “Poker Science: Math, Game Theory Can Help A Gambler’s Strategy” as linked through the Huffington Post comments on the theories behind playing poker. At current day there exists large disputes over whether using numbers and game theory is prosecutable as an illegal gambling practice under law. How does math fall under this […]

Could Online Auction Be the Remedy for Auction Fever?

Without a doubt, internet has had a significant, if not a monumental, impact on auctions. Auctions couple decades ago were generally only held for valuable or rare goods such as fine piece of artworks or classy wines that are couple hundred years old (as mentioned in class). However, due to the amount of ease online auction offers, […]

Navigating politics with friends on Facebook The political arena is certainly heating up, particularly with the recent national party conventions. Commentary from both sides of the aisle is being posted in the newspapers, shown on television, and extended through social media. Social media networks can play a significant role in connecting people and establishing support for a candidate. During an […]

Gaming the Flu

Modern research revolving around medicine has made it possible for many different vaccines, especially the Flu vaccine. Although the Flu vaccine presents a positive externality and is relatively inexpensive or even free for some people not everyone receives a Flu shot. In many cases people are too lazy or do not think that the total […]

Carmageddon II: Braess’s Paradox Gives LA Hope

In July of 2011, Los Angeles closed a 10-mile stretch of the 405 Freeway for 36 hours in order to do roadwork. Leading up to the weekend of the highway shutdown, people feared the traffic nightmares that were about to take place. The event was often referred to as “Carmageddon” or “Carpocalypse” because everyone expected […]

Facebook: Are Online Social Networks Getting Too Big?

A person comes into contact with many people throughout their life. Some of these people may become close friends and some may only exist in a person’s life as an acquaintance. Social networking sites like Facebook have become quite extensive creating an online social network that includes not not only a person’s close friends, but […]

Game Theory and Twitter This article by Virginia Heffernan talks about the Twitter postings of Anthony Weiner, a junior congressman. In just a short 20 months of using Twitter he was able to acquire some 77,000 followers solely from his “tweets.” She states that the users of Twitter, like Weiner, are all playing a strategy game, trying to […]

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Blogging Calendar

September 2012