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Uber’s Surge Pricing: Illegal or Avoidable?

The concept of surge pricing isn’t foreign to the businesses around the world. Surge, or dynamic, pricing refers is one type of pricing strategy in which businesses alter their product prices to meet supply and demand levels. Though people may not realize it, surge pricing happens in many sorts of ways, whether it be the […]

The Aircraft’s Dilemma: Boeing v Airbus

In the ever-increasing market of commercial aviation, the two global development leaders, Boeing and Airbus, are facing a head-to-head battle over the capitalizing potential of “superjumbo” aircraft. As continually increasing demand in airline passenger capacity has driven down costs over the past few years, a tipping point has been reached in the potential payoffs of […]

False News Stories Are 70% More Likely To Be Retweeted On Twitter Than True Ones

https://www.marketwatch.com/story/fake-news-spreads-more-quickly-on-twitter-than-real-news-2018-03-08?mod=newsviewer_click In this MarketWatch article, Kari Paul reports that a recent study conducted by the Massachusetts Institute of Technology on the spreading of false information concluded that “false news stories are 70% more likely to be retweeted than true stories.” The study also stated that false stories “are also retweeted more widely than true statements […]

The Rise of Tech-Based Matching Markets: Uber, Lyft, and Airbnb. What’s next?

The rise of the market matching economy: Uber, Lyft, and Airbnb. What’s next? In traditional economics, a market is described as a means of equalizing demand and supply through an adjustment in price. While this model works well for a typical commodity market, it doesn’t fully describe what goes on in more complicated markets. An […]

Nash Equilibrium in Baseball

Nash equilibrium has been employed to study the behavior of players in competitive sports and games. In this paper, the researchers model baseball as a game between the pitcher and batter. The pitcher wishes to minimize the number of bases the batter achieves, and the hitter aims to maximize it. However, this is still quite […]

Advertising at Google and Amazon

Google’s parent company, Alphabet, generated 95.4 billion dollars in ad revenues last year, which made up around 86 percent of the companies total revenue.  These numbers show how Google is one of the most dominant advertising platforms.  Most of the revenue is based on search ads, making up 83 percent of total ad revenue.  Alphabet […]

Information Cascades in the Stock Market

“Herding Behavior in the Stock Market” by Victoria Duff: https://finance.zacks.com/herd-behavior-stock-market-9833.html   This article describes different forms herding behavior that are common in the stock market and explains how herding behavior shapes the nature of the stock market. In the context of the financial world, herding behavior refers to the phenomenon by which investors will base […]

Matching Markets in Recruitment

Source: https://www.reuters.com/article/us-amazon-com-jobs-automation-insight/amazon-scraps-secret-ai-recruiting-tool-that-showed-bias-against-women-idUSKCN1MK08G Recently, Amazon has scrapped its AI-driven recruiting algorithm due to bias that the algorithm was unable to self-correct. The algorithm was trained on thousands of examples of resumes from successful and unsuccessful applicants, and because the algorithm looked for familiar patterns, it learned quickly that male applicants were more favorable to female because […]

How Google retains more than 90% of search market share

https://www.businessinsider.com/how-google-retains-more-than-90-of-market-share-2018-4 This article discusses the dominance of Google in online searches. Through the core Google search function, other Google functions including Google (Image) and Google Maps, and subsidiaries like Youtube, altogether Google has an impressive 90.8% market share of web, mobile, and in-app searches online. Google processes 3.5 billion searches a day. The reason Google […]

Bayes’ Rule and Coast Guard Rescues

https://www.google.com/amp/s/www.bayestheorem.net/real-life-uses-search-and-rescue/%3Famp Probability is applicable to practically every aspect of our lives, and whether we realize it or not, probability calculations are behind so many of our everyday decisions. The power of probability can also be harnessed for more large-scale, important applications. One particularly fundamental concept in probability is Bayes’ Rule, which uses conditional probability to […]

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