Traffic Congestion and Widened Roads
Source: http://www.heraldmailmedia.com/news/local/highway-congestion-is-maryland-s-approach-wrong/article_b5ea9371-b2a5-5be4-94a0-d9bb39d5f4f0.html In Maryland, congestion and increasing crashed become a serious issue in recent years. The state is trying to solve these problems by widening roads, like Interstate 81 in Washington County. However, some scholars claim that this is not an efficient or even not an effective solution. Traffic could get even worse after roads are […]
Implications of Facebook’s Filtering Fake News Stories
Source: https://news.northwestern.edu/stories/2016/12/economics-explainer-using-fake-news/ Clare Milliken explained how Facebook’s action on filtering fake news stories can be explained by game theory. Originally, there were two players: the person or group fabricating news stories and the readers who were not always able to discern whether a story is fake or not. However, after Facebook, online media for news […]
Twitter and Revolution
What role do social networks play amidst social activism? Are the extensive connections made through Twitter and Facebook strong enough to insight change? Does it even matter if they are? In this article, Jonah Lehrer challenges Malcolm Gladwell’s viewpoint that “online networks are all about weak ties – a weak tie is a friend of […]
Formula 1: A Race Among Drivers or Strategists?
Source Link: https://www.motorsport.com/f1/news/singapore-gp-strategy-the-key-to-balancing-risk-and-reward-in-f1-955358/ Many fans of modern Formula 1 would make the argument that a race outcome is determined exclusively through race strategy once the starting grid is formalized. The article linked above discusses all the possible kinds of payoffs for different strategies of a particularly tricky grand prix weekend and their effect on the total […]
Game Theory and Natural Disasters
http://www.salon.com/2017/08/31/response-to-natural-disasters-like-harvey-could-be-helped-with-game-theory_partner/ Nagurney’s article sheds light on a timely application of game theory as natural disasters are attacking across the nation. She points out that there has been little work done in harnessing the scope of game theory in the context of disaster relief while game theory can provide very useful framework for both the government […]
Game Theory: A Solution for Politics
Source: https://www.bloomberg.com/view/articles/2017-09-08/a-game-theory-solution-for-a-fractured-america The current state of American politics is more divided than ever. Following this past year’s election, which was one of the most controversial to date, it has become nearly impossible for the American people to reach consensus on national issues. The article, titled “A Game-Theory Solution For a Fractured America,” examines the fact that […]
Dominant Strategy at Amazon
Source: https://stratechery.com/2013/amazons-dominant-strategy/ In class we often discuss very simple strategies and/or dominant strategies, but the article linked above illuminates the complexities in having a dominant strategy in the real world applications. Our class examples typically include 2 parties where the strategy they choose affects their outcome and possibly the outcome of the other party. But […]
Graph Theory and Neuroscience
Brain clue to addiction risk: https://www.telegraphindia.com/1170916/jsp/nation/story_173521.jsp Summary: This article addresses a unique research method and finding by a group of doctors at the National Institute of Mental Health and Neuroscience in Bangalore. The article starts by recognizing that it is a well-agreed upon fact in the medical community that children of parents with Alcohol-Use Disorder […]
Game Theory and the Election
http://www.huffingtonpost.com/entry/the-science-behind-hillar_b_11213790.html As election season has come and gone, the political climate remains in a very heated state of activity. Republicans and Democrats alike still are trying to find out as to why Hillary Clinton lost to President Trump. Many political scientists have written intricate papers and essays about their reasoning of what happened in […]
Flight Overbooked? Use Game Theory to Get the Biggest Payout
http://chicagotonight.wttw.com/2017/05/08/flight-overbooked-use-game-theory-get-biggest-payout This past May, a large commotion occurred when a doctor was forcibly removed from a plane and the video was viewed millions of times. The details behind what had taken place was that United Airlines had overbooked the plane, a common practice that the company uses to make more money by selling more seats […]
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