The Market for Counterfeits on Amazon
As international companies have begun to take advantage of online markets to more easily reach consumers abroad, businesses and consumers alike have had to deal with some negative effects that have arisen from this new, connected economy. Counterfeit items, which most people associate with seedy street vendors or cheap ebay listings, have surged in popularity […]
The Rich get Richer
http://www.wsj.com/articles/the-rich-get-richer-as-billionaires-increase-in-number-1470628860 As we discussed in the lecture, the network is set in such a way that once a cascade starts it keeps growing continuously. This is the case for the wealth distribution in the population. The article above describes the current position of billionaires in the world. As seen in the article, the wealth of […]
Evolution Stability (tsh68)
Article: https://www.sciencedaily.com/releases/2016/11/161124081553.htm Evolutionarily stable strategies include the two-player games. The strategy that is stable is implied to be the strategy that will continue to persist. If a strategy is not stable, then the strategy will not be effective and thus will be eliminated. In evolutionary biology, the stable strategy between two different players, or organisms, […]
Social Network Dynamics of the Arab Spring
http://www.economist.com/news/middle-east-and-africa/21710934-arabs-make-up-just-5-worlds-population-they-account-about-half In 2011, democratic uprising arose independently and rapidly spread across the Arab world. The movement was born in Tunisia in December of 2010. However, the underlying social and political shifts that were underlying these uprisings were closely connected, and social networks both through physical and online interactions were the primary channels of information–the quick […]
Bubbles in the Stock Market: Dangers of Information Cascades
Investing in the stock market can be based on a few intentions. For individuals, this could be to secure, long-term growth or risky, quick profit turns. The rapid buying and selling for quick profits largely revolves around the preconceived expectations of the upcoming stock market behavior. Instances where large groups of individuals share the same beliefs of […]
The Information Disadvantage of the Investing Public
https://www.jstor.org/stable/20696374?seq=2#page_scan_tab_contents “The bull market operator really hopes to sell out near the extreme, to someone else. This someone else will have to suffer a financial injury, if the bull market operator’s appraisal has been correct. Obviously, this someone else will have to be a relatively unwary person, and such unwariness could logically be attributed only […]
Self-fulfilling Crisis
Source: http://krugman.blogs.nytimes.com/2011/08/07/a-self-fulfilling-euro-crisis-wonkish/?_r=0 About 5 years ago, European Central Bank (ECB) resumed government bond-buying schemes, primarily to ease EU-wide economic crises that swept some of the EU countries. Paul Krugman, in his New York Times blog article, discusses this issue and analyses the big question of whether ECB’s bond purchase can be the fundamental solution to both […]
Implications of the Tragedies of the Commons
Link: http://phys.org/news/2016-11-game-theory-tragedies-commons-averted.html In class, we learned about the “Tragedy of the Commons”, a concept first introduced by ecologist Garrett Hardin about 50 years ago. The commonly known example related to this idea presents a situation in which there are multiple farmers with multiple grazing animals; in this situation, there is a common pasture where all […]
Game Theory in U.S. Politics (U.S. Election)
This U.S. election between democratic nominee, Hilary Clinton, and republican nominee, Donald Trump, was a one for the history books. Although Hilary Clinton won the majority of the popular vote, it was Donald Trump who won the Electoral College, ultimately winning the election. However, before the election results, Game theory has given us interesting insights […]
The Tragedy of the Extra Credit
This article was originally sparked by a viral tweet from a student about an extra credit problem he was given on one of their exams. Essentially, the question was to choose to receive either 2 bonus points or 6 bonus points, however the tragedy was that if over 10% of the class chose 6 points, […]
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