Game Theory in the Practice of Surgery and the Operating Room Environment
https://www.sciencedirect.com/science/article/pii/S0039606012003121?via%3Dihub Game theory can also be referred to as the “theory of social situations”. It is often involved in explaining a lot of social behaviors, but the theory itself including its applications are not studied as much in medical literatures. The article in the link above presents a comprehensive review on the game theory […]
The United Airlines Fiasco and Game Theory
https://www.npr.org/2017/04/13/523726313/how-game-theory-relates-to-airline-booking In 2017, United Airlines had a public relations disaster on their hands after airport security had to physically drag a man off his flight. This article talks about the common practice of airlines to overbook flights in order to minimize the amount of empty seats. This situation is a perfect example of a […]
Sports Betting, Game Theory, and Poker
https://www.pokernews.com/strategy/thinking-poker-picking-football-games-game-theory-poker-19987.htm One of the obvious ways in which the importance of understanding game theory can be seen is on a poker table, where the difference between a beginner, who sees poker as a game of trying to get pairs and flushes, compared to the experienced player, who thinks of the game as a set of […]
Game Theory and the Economies of Agglomeration
reference: 1.Talwalkar. Presh. Article: Why Are Mcdonalds And Burger King Usually Located Near Each Other? Fast Food Location Game Theory. Mind Your Decisions. October 23, 2012. <https://mindyourdecisions.com/blog/2012/10/23/why-are-mcdonalds-and-burger-king-usually-located-near-each-other-fast-food-location-game-theory/> 2. Glaeser,Edward. Talk: Productivity & Growth: Education, Agglomeration & Entrepreneurship. New Zealand Productivity Commission. Aug 19, 2013. <https://www.youtube.com/watch?v=G7gK1ZEsQc8> Four years ago while my brother and I were on a long […]
The Chinese Guarantee Network and Post-Recession Stimulus
Article: https://arxiv.org/ftp/arxiv/papers/1804/1804.05667.pdf This recent paper outlines a network analysis of the Chinese guarantee system in the context of the financial crisis of 2008/09 and the Chinese government’s subsequent stimulus program. A guarantee relationship is between two firms, wherein a guarantor firm will pay the debt incurred by a borrower firm if the borrower firm fails to […]
Evolution of In-group Favoritism
Ethnocentrism is a phenomenon found commonly in human behaviour and involves a wide range of actions and behaviours. One such aspect of ethnocentrism is in-group favoritism, in which individuals preferentially cooperate with others who share something in common. Evolutionary game theorists consider these aspects “tags”, which can range from ethnicity and physical characteristic (hence the […]
Broadband Market and Prisoner’s Dilemma
Technology is consistently improving upon itself at a faster rate as time passes. Many facets of technology have improved over time, such as faster computer processing, more storage in smaller devices efficient, and efficient, self-driving cars. Then why is it that our internet speeds continue to get better at such a slow pace compared to […]
Holacratic Workplaces
Reference: https://www.cnbc.com/2016/09/13/zappos-ceo-tony-hsieh-the-thing-i-regret-about-getting-rid-of-managers.html Traditionally, companies structure their organizations in hierarchies, where seniority and job title determine who can call the shots and have the final say in influencing the direction of the company. Some companies, however, are moving away from this organizational structure in an effort to minimize the bureaucracy of the workplace, create more role […]
Game Theory in Trump-North Korea Talks
link: https://www.bloomberg.com/view/articles/2018-09-17/economics-gets-it-wrong-because-research-is-hard-to-replicate The article focuses on Trump-North Korea summit and talks about the game theory behind the several choices each country have. In particular, the article articulates game theorists’ perspective in evaluating the solution to North Korea nuclear problem. Game theorists work out a strategy by first consider the outcome of each choices, and then […]
Don’t Believe Everything You Hear
Why is it that fake news spreads faster and remains current a lot longer than the truth? For instance, any kind of scandal in magazines get more attention than the real story. One explanation may be because false statements tend to be more surprising than true ones and, naturally, people tend to pay more attention […]
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