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Market Clearing Prices in the Context of College Admissions

In our most recent class, in the context of Market Clearing Prices and Matching, we discussed the ‘buyers and items’ problem. Underlying the problem was a state of competition that arose among the set of buyers. Each buyer was interested in a set of particular items, each to a different extent (i.e., buyer ‘A’ would […]

Price Matching in Retail Matching Markets

Many retail stores, like Target or Best Buy, offer price matching. Retails operate in a matching market where one buyer, a consumer, might be matched up to multiple sellers, retailers. A consumer can find an online or physical ad of an item offered at one retailer and ask to buy it for same price at […]

Parenting Methods Using Game Theory

“It’s not fair!” – a common statement exclaimed by a dissatisfied child to his or her parent. Even from a young age, children practice negotiation and their approach usually depends largely on notions of fair play. Recently, Paul Raeburn and Kevin Zollman have written a book called, The Game Theorists’s Guide to Parenting: How the […]

Hunting Game with Theory: Preventing Poaching

Poaching remains a serious problem for rhino populations, particularly in countries where security is too expensive to maintain. A group of conservationists at the University of Kent decided to use game theory to model the battle between gamekeepers and rhino poachers and determine a best approach for the gamekeepers. In the simplified game, the two […]

Houses and the Homeless

The homeless population in New York City is large, and the solution to the problem cannot be easily found. There have been attempts, as shown by the evidence of shelters and other programs to help those in need get on their feet. However, it is not a perfect system, especially so for the disabled homeless […]

Stable Matchings of students and high schools through Traditional Marriage Problem

Link: http://www.ams.org/samplings/feature-column/fc-2015-03 This article discusses about the matching between 8th graders and to the various high schools in New York City. The 8th graders would list their top 5 preferences of high schools they wanted to apply to, and the high schools would decide whether or not to accept, reject, or wait-list them. The students were […]

The Calm Before the Storm: Beijing’s Unstable Role in Washington and Pyongyang’s Hawk-Dove Game

Tensions continue to mount between the U.S. and North Korea as the latter conducted its biggest nuclear test to date on September 9, 2016. Despite Washington’s growing concerns and motions for increased sanctions on the rogue nation’s accelerating nuclear program, Beijing has remained relatively silent on the issue. With the exception of expressing disapproval towards Pyongyang’s disregard […]

Waze to Avoid Traffic (Game Theory)

Waze is navigation app built for drivers around the world in order to avoid traffic. It takes in all the real time data of the drives using the app and calculates a route to a desired location that takes the least time. The app is available for smartphone users and lets them report any incidents […]

Braess’ Paradox in Evacuation Planning

Link to study: http://cdn.intechopen.com/pdfs-wm/37898.pdf Moynihan and Fonseca’s (2012) research study explains the concept of Braess’ Paradox as seen in real life situations of storm and hurricane evacuations. As discussed in class, Braess’ Paradox refers to a condition where adding new resources to a transportation network can sometimes decrease the efficiency of the overall system (Easley & Kleinberg, […]

Game Theory and the Shortcomings of Modeling exhibited by Nash Equilibrium

The conflict in the Middle East is one that has spanned many decades and does not appear to have an end any time in the near future. Attempts have been made at peace, but in general, most transgressions by one side are met with an equal or greater violent reaction from the other side rather […]

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