Evolutionary Game Theory – Eusocial
We talked about evolutionary game theory in class about a week ago. Evolutionary game theory is essentially the application of the principles of game theory to evolving populations that make decisions that can ultimately decide whether individuals are able to survive and reproduce. At a higher level, those decisions decide whether species endure or become […]
Application of Power Laws to Biology
Allometry is the study of the “shapes” of organisms, the relative sizes of their organs, their relative metabolic rates, their lifespans, among other measurable quantities. When some of these two quantities are plotted against one another with log – log axes, a linear relationship emerges. One of these relationships is the relationship between body mass and metabolic […]
Freemium model and Network effects.
In the app market, there are 3 main ways of pricing an app. One can make their app free, paid, or free with optional in-app purchases (freemium). Analyzing these 3 models, it is no surprise that freemium works best for generating revenue. Importantly, many of the apps at the top of the app store are […]
Artificial Intelligence can Reduce Information Asymmetry
In Tshilidzi Marwala and Evan Hurwitz’s study regarding information asymmetry, they made an interesting discovery that artificial intelligence can be used to greatly reduce the amount of asymmetric information, thus enhancing efficiency in trades in the market while decreasing the volume of trades. Information asymmetry is a common phenomenon in a market due to the […]
The Power of Google Adwords
The power of advertisements becomes clear once again, with a study by UK watchdog Ofcom identifying that most young people were unable to tell the difference between ads and real websites. [1] Ofcom is an independent regulator and competition authority for the UK communications industries and it researches online behavior for the protection of British […]
Asymmetric Information on Kickstarter
Kickstarter, for those of us that do not know, is a crowd-funding website that relies on the donations of millions of users to fund a proposed project. It runs on the marketing idea of providing incentives for funding such projects in the form of perks that are offered to backers. In the article sourced below, we have […]