The market for Apples
A common challenge for companies is to find the reservation price of their customers in order to gain the most profits from the highest number of people possible. Unfortunately, most sellers must price their product at a single price, losing those unwilling to pay at this price and missing gains from those that would have […]
Big Data Connects Users to their Worlds in Incredible New Ways
The importance of online social networks has moved well beyond the margins of connecting and communicating with friends. New startups and services allow users to find and provide the answers to a wide range of topics. Whether one wants to discover the quietest place in Tokyo to read a novel, or what political topics are […]
Newcomb’s Dilemma
Newcomb’s Dilemma is an exercise in Game Theory that involves two boxes, one that contains $1,000 and a mystery box that contains either $1 million or nothing. You are given a choice whether to pick between both boxes or just the mystery box, but you are facing an adversarial host who is incredibly accurate (say […]
Political Disagreement causes Government Shutdown
It has been 17 years since the United States’s last shutdown, but we have managed to do it again. Early Tuesday, October 1st, a divided Congress could not come to an agreement on expenditures for the Affordable Care Act (ACA), commonly known as Obamacare. As a result, all ‘non-essential’ government programs have been temporarily halted, […]
Drug Hoarding and ‘Prisoner’s Dilemma’
In the article, Drug Hoarding and ‘Prisoner’s Dilemma’, John Paulos relates the prisoner’s dilemma to stockpiling Cipro antibiotics in order to combat anxiety and anthrax. Instead of the conventional confess or not confess, there is the choice of stockpiling or not stockpiling. There is a greater individual benefit to stockpiling because you will have the […]
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