Bidders should never overbid, but they do. A lot.
eBay auctions are structured like a second price auction combined with an ascending auction. There is an allotted time for the bidding to occur. Bidders must bid higher than the current price, so the price of the item continues to rise. The bidder with the highest bid when the time is up wins the item, […]
Superjumbo Airplane Game Theory
https://www.strategy-business.com/article/15872?gko=be9cb In this article, we can see a number of game theory dilemmas unfold concerning the two major airline manufacturers Boeing and Airbus. The context of this situation is that there was a failed joint development project between the two of a superjumbo jet that could carry up to 1000 passengers at a time. This […]
Markov Chains and Random Walks in PageRank and Personalized PageRank
https://www.r-bloggers.com/from-random-walks-to-personalized-pagerank/ http://ilpubs.stanford.edu:8090/422/1/1999-66.pdf With the PageRank algorithm and its Basic Update Rule, we can figure out the relative power ratings of webpages. Instead of the Basic Update Rule, the articles introduce a different perspective to examining the graph of webpages. The first article introduces the random walk model to the web page graph. Suppose we have […]
The PageRank Citation Ranking: Bringing Order to the Web
http://ilpubs.stanford.edu:8090/422/1/1999-66.pdf This paper is extremely interesting and appears to be one of the earliest papers in which PageRank is discussed. They describe this new “importance” ranking of websites as a way to help search engines and users quickly make sense of the vast heterogeneity of the World Wide Web which is hugely important as the Web […]
Demand-side Platforms Auctions
Programmatic demand-side platforms are advertiser campaign management products that allow advertisers to buy ad placements online. In the past, they have always been conducted using the policies of second-price auctions, where these demand-side platforms would bid for the opportunity to put up an advertisement. This is beneficial in the sense that the sellers would be […]
Auctions on the Internet
There are a myriad ways in which this new era, where the Internet exists, has changed the relationship between buyers and sellers. From personalized and specialized advertisements to fast-paced deliveries. Every buyer now has ease of access to whatever desired product they wish to purchase. Due to sellers having to pay commission and a fee […]
Why Google PageRank is used in 2018
Link: https://www.link-assistant.com/news/page-rank-2018.html This is an interesting article in my opinion. Although it discusses PageRank in a manner that is similar to the textbook and in class, having another person explain it to me helped me in understanding the topic and its importance. This article goes into how important PageRank is with Google, even in today’s modern […]
Google’s search algorithm and false information
https://www.theguardian.com/technology/2016/dec/16/google-autocomplete-rightwing-bias-algorithm-political-propaganda This article by The Guardian analyzes how a weakness in Google’s search algorithm has been exploited by extremists to spread biased information throughout the web. This quote sufficiently summarizes the article: “The secret recipe of factors that feed into the algorithm Google uses to determine a web page’s importance – embedded with the biases […]
Ineffective “Creepy” Advertising
https://www.wired.com/story/online-ad-targeting-does-work-as-long-as-its-not-creepy/ How effective are the ads that are perfectly chosen for you? With abundant online advertising, almost everyone nowadays has a story of how a “creepy” advertisement popped up on their phone or computer. Most of these stories go something like this: “I was just talking about [item in advertisement], and now I’m seeing ads for it!” Some […]
YouTube’s Recommendation Algorithm
https://www.theguardian.com/technology/2018/feb/02/how-youtubes-algorithm-distorts-truth In this article, Paul Lewis criticizes YouTube’s recommendation system, arguing that its algorithm has been promoting disturbing content, subcultures, and misinformation on the web. YouTube is a global media platform with 1.5 billion users, and in the article, Lewis asserts that a large reason for the site’s success is its recommendation algorithm. The […]
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