Braess’ Paradox in the Network of EVs
Link: https://www.propmodo.com/electric-vehicles-will-not-save-our-cities-but-electric-bikes-might/ With the rise of sustainability as a hallmark of societal progression, there has been an increasing emphasis on alternative fuels as a form of environmental sustainability specifically. It’s no wonder that production and popularity of electric vehicles in the modern age have significantly amped up, as more and more traditional automobile firms have […]
Game Theory and Space Debris
In recent years the drive to explore space has been reignited by the privatization of space exploration brought about by notable billionaires like Elon Musk (SpaceEx), Jeff Bezos (Blue Origin), and Richard Branson (Virgin Galatic). They are looking to make space travel a commercial reality. This possibility calls into question the potential harms and existing […]
Braess’ Paradox and Social Networks
link: https://www.technologyreview.com/2013/02/19/180000/braess-paradox-infects-social-networks-too-say-computer-scientists http://www.ams.org/publicoutreach/feature-column/fcarc-anarchy https://arxiv.org/pdf/1301.7592.pdf From the textbook, Braess Paradox is interpreted as adding resources to a transportation network can sometimes hurt performance at equilibrium. Intuitively, more roads (resources) imply more options but the time to make a choice and distribute resources is longer than we expected. Essentially, Braess Paradox examines to what extent a group […]
Is It Really a Zero-Sum Game?
Yesterday at dinner, I was playing poker with my friend. To make the game more exciting, we placed bets (just a few, no worries). Unfortunately, I lost all to her. Looking at her happy face, I sighed, “well, that’s how a zero-sum game works!” The money that used to be in my pocket is now […]
Multiple Player Application of the Nash equilibrium: The Usage of the Nash equilibrium in a Vigilance Versus Self-Isolation Game In Covid-19
The COVID-19 pandemic has been stressful on many fronts: from economically to social functions. As a result, there have been many studies predicting the theoretical result of taking a particular set of actions within those various subjects. In the paper ‘Economic epidemiology in the wake of Covid-19’ written by David McAdams, McAdams explores a closely […]
When Do We Choose to Be Selfish: Experimental Field Evidence of Common Pool Resources in Bolivia
Nash equilibrium is the idea in a game where all the players are satisfied with their payoff and reach their respective optimal outcome with no desire from any player to change their strategy. This concept can be applied to almost every decision-making situation and is usually always considered, even without realizing sometimes. The working research […]
Stable Matching in Organ Donation
https://www.universityofcalifornia.edu/news/how-matchmaking-algorithm-saved-lives The stable matching problem appears in more contexts than you might imagine. We’ve seen the classical relationship version and the hospital-resident matching, but we can apply the problem to more situations. Take blood donating for example. This article about Gale and Shapley presents the example of donating and receiving organs with individuals who […]
Prisoners’ Dilemma in Google and Facebook News
Both Google and Facebook have thousands of news articles and various media circulating through them daily. Users find it extremely convenient to gather information from Google and Facebook since they are such popular digital platforms. The article states that the media shared and processed by readers through platforms such as Google and Facebook has a […]
The Race for a “Perfect” Vaccine… and Auctions!
Pharmaceutical companies all around the world are racing to produce the “perfect” vaccine that will catch all possible Coronavirus mutations that arise. While these companies are all hoping to help slow down the spread of the virus, they also are aware of the profit they can make off of producing the vaccine. A problem that […]
Game Theory Applications to Dating
In the context of a relationship, no one enjoys getting played. However, the article titled “How Game Theory Can Help Improve Your Luck at Dating” by Manu Dal Borgo, seems to claim the opposite. The article discusses how game theory can be used to better your chances at finding a partner, through the simple usage […]
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