A Game-Theoretic Approach to Changes in Network Architecture
One of the most basic theoretical frameworks we have been working with is that some interactions are games. Within these games there are players, a payoffs, strategies and equilibrium. However, for the majority of our exploration of game theory, we’ve dealt with single games. If we expand this to games played repeatedly (called a supergame […]
Snipers, eBay, and Auction Drama
We’ve learned that second-price auctions are when bidders submit bids for a certain item and the highest bidder wins the object, obviously, but pays the value of the second-highest bid. However, most college students surprisingly have not used eBay and their methods of handling these auctions. College students these days need items immediately and although […]
Alumni Networking in Entrepreunuership
At this moment there are thousands…millions… of devoted and enthusiastic young entrepreneurs looking for their lucrative spot within some newly expanding market. The smartest, most experienced, and most competent individuals in this group may actually not succeed with their endeavors at all. Elon Musk, the CEO of SpaceX and Tesla Motors (along with a host of other incredible accomplishments once […]
It’s (Almost) Election Day!
With the election day upon us in just a few short hours, Americans all across the country have been tuning in to news stations and radio broadcasts to get last-minute details of the competitors- President Obama and Governor Romney. As a result of this search for information on polls and popularity statistics, many websites have […]
Trading Networks: Water and the Ogallala Aquifer
One of the major concerns in the coming years for many people around the world is the issue of water scarcity. Water can be considered the lifeblood of human civilization, and is essential to most forms of life. However, climate change and various environmental factors have led to predictions of major water shortages over the […]
Vote for Obama: Everyone else is
In 2008 Barack Obama was able to win the election with a strong support of enthusiastic and excited young, new voters. Today, it is assumed that Obama will still have the young people’s vote, despite the drop in enthusiasm. In fact, the majority of young voters are not following the election at all. Only 17% […]
The Hurricane Sandy Information Cascade
Over the past week as the hurricane has pounded the east coast the Internet has been abuzz with real and fake photos. Social media is a great way of spreading news quickly through a network. With just the click of a button it is shared to hundreds of more people, and just one fake thing […]
Louis CK takes on Ticketmaster
Whenever there’s a big event or concert, there’s always people who buy extra tickets just to resell at a higher price because of scarcity. This obviously is ethically questionable at best and even illegal in some circumstances (scalping at the premises is usually illegal). Wouldn’t it be great if there wasn’t intermediaries that drive up […]
The Power Of The Network Effect
The network effect has made a significant impact in Silicon Valley over the last 15 years. Big name software companies in northern California like Apple, Facebook, and Microsoft have each risen to multi-billion-dollar giants at the top of this supreme network. The power of the network effect comes from a system where each new user […]
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