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Price of pharmaceuticals

About a month ago, Martin Shkreli was decried for the price hike on the drug Daraprim, a drug used to treat Toxoplasma gondii, which often arises as an opportunistic infection in HIV positive patients. However, this price change is not unique to Daraprim – other companies routinely raise prices, albeit at a less noticeable rate. […]

Strategic Interactions on Networks – Black Markets

Black markets are large networks, just like networks in normal markets. However, there are interesting differences. Thinking about black markets without applying knowledge of networks, the first thing you think of is that black markets are more secretive, selective, and have high prices. Also, in order to a black market to be successful, there has […]

The Fed, Interest Rates, and Market Clearing Prices

The Federal Reserve holds the power to regulate monetary policy in the United States, perhaps most notably the ability to raise and lower interest rates according to the state of the economy. A recent Fortune.com article details how, in recent years, the Federal Reserve has kept interest rates at an all time low between zero […]

Page Ranking and the Importance of Links

Ever wonder how to get on top of Google’s search results? Page ranking is the answer. Truth is, almost nobody goes past the first page of Google to see the search results. If you can’t find what you’re looking for, chances are that instead of going to the next page, you are likely to type […]

The Political Power of Google’s Algorithm

As the 2016 presidential primaries has begun to take greater shape over the next few months, candidates from both political parties will increasingly attempt to shore up their defenses against one another. However, they are unlikely to account for the one unseen threat that could affect any one of them greatly: Google. This August, Robert […]

The Game Theory of Airbnb Reviews

Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list and book accommodations all around the world. Hosts can easily rent their homes and apartments to users to monetize their extra space, while users have an unique alternative to hotels at a variety of […]

The Applications of PageRank Mathematics to Lung Cancer Research

Google’s PageRank algorithm is a powerful formula that allows for the determination of web page quality based on the page’s ability to generate links to itself.  While this algorithm has proven its worth by enhancing search engine quality and efficiency, it was only recently that scientists began to apply the mathematics to the spread of […]

Google makes use of quantum computing for better revenue-generating web search algorithms

The speed of web search depends primarily on the efficiency of the algorithms. Next, the hardware processor determines the speed of data processing. Development of the classical computers is, however, running towards its limitation due to the fact that, at certain size and below, the rules for classical electronics do not apply anymore. Thus, the […]

PageRank Algorithm Reveals World’s All-Time Top Soccer Team

http://www.technologyreview.com/view/535861/pagerank-algorithm-reveals-worlds-all-time-top-soccer-team/ This article talks about how Verica Lazova and Lasko Basnarkov at Cyril and Methodius University in Macedonia used Google’s famous PageRank algorithm to rank all the world’s national football teams using the results of 20 World Cup tournaments since 1930. They accomplished this by compiling the results of over 7000 games played between 210 […]

Study Finds That Children Understand Game Theory

Game theory is regarded as an advanced algorithm used by computer scientists, economists, philosophers and politicians to further understand the interactions we observe every day. Game theory can be used to predicts events such as trade agreements between two countries or economic trends. The theory has many advanced applications, and to some extent is thought of […]

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