Computer Simulation to Analyze Winner’s Curse in 1st-Price, Sealed Auctions
https://gbr.pepperdine.edu/2010/08/the-winners-curse-and-optimal-auction-bidding-strategies/ This article discusses the issue of the “winner’s curse” in first-price sealed bid auctions and how computer simulation can help bidders develop more optimal bidding strategies. Although winners of auctions are often viewed as the bidder with the best outcome — because the goal is to win — winners often end up with a […]
Natural Disasters and Social Networks
https://www.theatlantic.com/ideas/archive/2018/09/social-ties-matter-most-in-a-disaster/570145/ https://works.bepress.com/daniel_aldrich/48/ The first link is an article which discusses Hurricane Florence and the impact disasters have on communities through a lens of social ties. During natural disasters and times of crises, there is a disparity between how well communities prepare, react, and recover from the ordeals. Aldrich believes that a significant factor which contributes […]
Evacuating Natural Disasters: The Role of Social Networks
https://www.pri.org/stories/2018-09-17/how-social-networks-can-save-lives-when-disasters-strike In light of Hurricane Florence, Daniel P. Aldrich, a Hurricane Katrina survivor, recently composed an article describing his research on how societies handle and recover from natural disasters. In order to better understand people’s evacuation patterns, Aldrich considers how one’s social ties influence evacuation behavior. While research on this topic has typically consisted of […]
Blockchain and Game Theory
With the emergence and rise in popularity in blockchain technology, it is very interesting to see how the technology is closely intertwined with game theory. In fact, the whole idea of using a blockchain as a mechanism to reach distributed consensus is entirely dependent on making sure that specific behaviors are incentivized. That is, no […]
The Liking Gap – Social Connections and Game Theory
A study from a collaboration of Cornell, Harvard, University of Essex, and Yale was published last week that described a cognitive phenomenon called the “liking gap.” According to the researchers, people methodically underestimate how much strangers like them and appreciate their company. Researchers look at three different sample sets: strangers meeting in the laboratory setting, […]
Game Theory in Tournament Sports
https://www.economist.com/game-theory/2012/08/02/f-for-effort https://www.wired.com/2012/08/badminton-round-robin/ There are applications of game theory everywhere. This includes in sports, especially during the major tournaments when the potential for rewards is extremely high. During the 2012 Olympics Badminton tournament, in the Indonesian vs South Korean match, each team had decided that they would try to lose the game on purpose. This was […]
Combating Islamophobia through Art
Recent controversy within the political sphere largely falls upon President Trump’s travel ban, particularly targeting Arab countries. Islamophobia has persisted since 9/11 and such policies have not mitigated the negative stigma surrounding Arabs, typically motivated by anti-Muslim beliefs regardless of their religious practice, in the United States. However, the collaborative effort of New York institutions […]
How Baseball Bonuses are Similar to the Prisoner’s Dilemma
In Major League Baseball, there are two ways for teams to acquire players: free agency, where veteran layers chose to play for a different team once their contract is up, or by drafting and developing amateur players from high school or international leagues. Each mechanism for gaining new players has its strengths and weaknesses, but […]
Trade war between US and China — Game theory
Link to the news article: https://www.businessinsider.com/trade-war-china-to-retaliate-to-fresh-trumps-200-billion-tariffs-2018-9 Tariff refers to the tax imposed by the government on imported goods and services. It is usually used to restrict the imports of goods from other countries by increasing their prices so that they are less attractive to domestic consumers. Therefore, a tariff is good for a country […]
How AI could help some of society’s toughest problems
https://www.technologyreview.com/s/612054/fei-fang-carnegie-mellon-artificial-intelligence/ In this article, “How AI could help some of society’s toughest problems,” Charlotte Jee explores Fei Fang’s use of game theory and technology in the real world. Fang’s work focuses on employing Artificial Intelligence (AI) for social benefits, such as protecting crucial national infrastructure, reduce homelessness and prevent suicides. To achieve this, Fang […]
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