Greece’s debt crisis, explained via Prisoner’s Dilemma
One of the events that are subject to most attentions within recent years is Greece’s debt crisis. Just in August of this year, Greece narrowly avoided from defaulting on its debt, being bailed out by other eurozone countries. This may not come as a surprise to some. As described in the article “Can game theory explain […]
Optimal Bidding Strategies at Auctions
Source: https://gbr.pepperdine.edu/2010/08/the-winners-curse-and-optimal-auction-bidding-strategies/ This article focuses on optimal bidding strategies at auctions using the common value model, in which the value is approximately the same for all bidders (as opposed to the independent private values model, in which the value is different for all bidders). It discusses how bidding strategies are complicated by a variety of […]
The Structural Balance of Foreign Policy
World Peace is constantly under threat, balancing itself between chaos and order. From a Networks perspective, foreign policy requires attention towards preserving structural balance for networks. The Structural Balance Property states that for every set of three nodes, if we consider the three edges connecting them, either all three of these edges are labeled friends, […]
Blame it on Commuters: U.S. Transportation Networks and their Influence on the Genetic Structure of Influenza
It is well established that the flu virus spreads through human contact, but for the first time, Emory researchers have analyzed U.S. commuter networks and have observed a dramatic correlation between strong interstate commuter links and genetic similarity of the influenza strains observed in those regions. Researchers mapped out both aviation and commuter transportation networks […]
Cleansing Cycling
It is no secret that performance enhancing drugs (PEDs) have plagued cycling for the past few decades. While the Lance Armstrong era has passed, the Cycling Independent Reform Commission (CIRC) estimates that 20% – 90% of the peloton is still doping. The most frightening part of this statistic is its confidence interval, which demonstrates how […]
The Odd Shortage of Amiibo
A business, no matter how long they have been in the market, can still make simple mistakes. Nintendo, a long-standing, well-known game company, for the past year has had many missed opportunitites to make extra profit through its extremely popular line of figurines, called amiibo. The craze for these figures is not only that they […]
Game Theory Calls Cooperation into Question
http://www.scientificamerican.com/article/game-theory-calls-cooperation-into-question1/ This article discusses the topic of Game Theory and focuses attention on the observation that the simplicity of the Prisoner Dilemma makes it applicable to many situations, but the article argues that it is not always correct. More generally, this article explains that cooperation really isn’t always the right answer and demonstrates that […]
Transmission: A Game about Networks
Transmission is a game developed by Science Museum to celebrate centuries of innovation in communication networks. The game essentially traces developments in networking technology since the 1800s. Starting at telegraph networks that only involve transmitters and receivers, it moves on to telephone networks, computers, broadcast networks, satellites and more. The idea of the game remains […]
Driving ATM Banking Profits Using Game Theory
Since the 1980’s, ATMs have become a huge part of how consumers interact with banks on a regular basis. Not only did automated tellers dramatically reduce wait times for customers, but they also helped banks significantly cut distribution costs. Over the years, ATMs have become increasingly common, now often found at every street corner of […]
Induced Demand from Bigger Roads
Traffic has been one of the country’s most aggravating issues, and it always will be. Logically, people think that the solution to heavy traffic is to add more roads and highways. However, this could not be more false. Over the past few decades, traffic engineers have learned that adding more roads and highways does not […]
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