Strikes and Game Theory
In recent news, Air France pilots have ended a fourteen day-long strike, but it has ended in an impasse. Earlier this year, in April, thousands of Lufthansa pilots went on strike for a better retirement plan. From May 2013 to October 2013, unionized workers led talks and multiple strikes against BART (Bay Area Rapid Transit), […]
Word of mouth vs Social media
http://phys.org/news/2012-05-rumors-fast-social-networks.html\ Gone are the days where the only form of communication between people is by word of mouth. Social networks like Facebook and Twitter are reshaping the way people take in information and in-turn pass that information. I find it remarkable that social networks spread news so quickly with the structure of such networks […]
The Art of Scamming Oneself
Buying a car has always been an exhilarating experience for some and the worst nightmare of others. If you’re like me, you go into any major deal thinking that the opposing party is in it to jip you every single time – an assumption that seems to come true more often than not. This isn’t […]
Implications of the Intercloud
In an announcement today regarding the progress of their so-called Intercloud, Cisco Systems made public their intention to make the future of the information more heavily regulated. However noble the intentions of Cisco, attempting to make cloud data more secure, there is a strong possibility that this could facilitate increasingly censored information as it is […]
Game Theory and Washington’s Gridlock
The article discusses the intuitive application of game theory to the decision making strategies of our Congress, and provides insight into the difficulty of bipartisan relationships, strategies and coherent approaches. The author claims that good cooperative outcomes are merely impossible when incentives are misaligned and delivery of information is uneven. The specific example examined is […]
Importance of game theory in choosing a Fantasy Premier League side
This season I have made it a goal to end my season in the top 500000 users amongst all the people who play the Fantasy Premier League. The rules are simple: you have 100 million pounds to buy 15 players in your squad, 11 of whom play in your team in a given week. Your […]
Sealed Bids for Sealed Deeds
In recent times, the real estate market has been making the switch to incorporating auctions to make sales. Whether it be due to adrenaline-pumped impulse moves, or a need for speed when it comes to land acquisition, auctions seem to get the job done faster and more efficiently. As referenced in the article, this is […]
Morals Matter in Economic Games
In a past lecture we were introduced to the concept that in economic games because humans are not abstract agents with only a concrete payoff in mind in negotiations their payoffs include not only the money, but also some notion of being treated and treating others fairly. We talked about the decisions that people tend […]
Reflection on Airlines’ Spoke-Hub Network after O’Hare Fire
A contract worker set a fire at an air-traffic control center last Friday, which all but paralyzed the Chicago airline hub, caused cancellation of more than 3,500 flights flying out of Chicago, and continues to affect more flights. Chicago is one of the busiest airline hubs in the nation. In fact, its major airport, O’Hare […]
Make Sure Players are Playing the Same Game
The Right Game For many basic game theory concepts, a key assumption is that players, usually in pairs, play the same games, meaning that they look at exactly the same payoff tables. However, in reality, without incurring the costs of communication or information gathering, you can never know what payoff table your opponent is looking […]
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