A Crowd of Experts?
The manner in which people make decisions can be affected by many factors, and one of the most powerful influences is the decision of the majority. In lecture, we learned how it is usually the case in which people will follow the crowd when it comes to picking from a set of alternatives because it […]
Google AdWords Auction – A Second Price Sealed-Bid Auction
One may wonder how free search engines, such as Google, reel in billions of dollars in revenue each year. These search engines do not charge users a fee for every search, rather, it chargers advertisers to display their ad on the search engine. Google uses AdWords Auction to generate $32.2 billion in advertising revenue. The […]
Real-time bidding: a new weapon in bidding war
Three months ago, Facebook launched a new marketplace called Facebook Exchange (FBX). It is a new auction platform that provides real time information about users’ online activities to its clients and allows the clients to bid for the ad slots that target the right users based on that information. It first offers the information of […]
Bayesian Networks and Genetic Evidence in Paternity Cases
A Bayesian network is represented by a graph in which the nodes are probabilistic variables and the edges represent conditional probability relationships, based on Bayes’ Rule, between those nodes. If no edge exists between nodes, then those random variables are independent. For example, if there are three nodes in a Bayesian network, labeled A, B, […]
Game theory and human evolution: A critique of some recent interpretations of experimental games
http://ac.els-cdn.com/S0040580905001668/1-s2.0-S0040580905001668-main.pdf?_tid=4078fd70-1fda-11e2-a755-00000aacb35f&acdnat=1351303482_88d27e0298614944f04d324ab76f39d1 Found through Cornell Summons Blog 2 Game theory and human evolution: A critique of some recent interpretations of experimental games This research paper studies and critiques past evolutionary theories in relation to game theory. One such critique is based on the fact that some animals, such as humans, would arbitrarily in certain one-time situations […]