Nash Equilibrium Applied to Monopolies and Collusion
Article: https://www.law360.com/articles/1528513/unitedhealth-deal-is-not-a-merger-to-monopoly-judge-says Recently, there was a legal case and decision made on UnitedHealth’s 13.8 billion dollar bid for the acquisition of Change Healthcare. The United Department of Justice (DOJ) believed that this merger would result in a monopoly “for health insurance claims processing technology.” But why is a monopoly so bad? To answer […]
How to Draft the Best Fantasy Sports Team in an Auction Draft
Sources: Auction Draft Strategy for 2022 Fantasy Football https://draftysports.com/news/beginners-guide-to-auction-drafts As October approaches, Fantasy Football season has already begun and people have been spending a lot of time watching the players associated with their fantasy team play every Sunday. The most important part of a successful fantasy sports season is to draft the best players and […]
Hawk-Dove Game Experiment
I examined research about the Hawk-Dove game theory and how this was tested in real life. In the experiment, the researchers also gave some participants the chance to converse with each other and some participants information about the game. Because there was a range of possible experimental conditions, the participants were divided into four different […]
Stabilizing the Texas Power Grid: An Explanation of the Nash Equilibriums between ERCOT & Texas Bitcoin Miners
Recently, popular media has heavily criticized bitcoin miners and their energy consumption, especially after the Biden administration published a report titled “Climate and Energy Implications of Crypto-Assets in the United States.” However, I would like to present an alternative view, highlighting the value of bitcoin miners and how their power demand is critical to stabilizing […]
How Game Theory Explains ‘Irrational’ Behavior
As humans, we act. Whether positive or negative, these actions have consequences. However, some people still opt to take part in these actions resulting in these negative outcomes. If one can foresee these implications, why would they continue to make these choices? An article written by Erez Yoeli and Moshe Hoffman highlights the main idea […]
Finding Analogies to Braess’s Paradox in Biological Systems
Referenced article: Investigating Los Angeles’ urban roadway network from a biologically-formed perspective Over the past few weeks, I have been particularly intrigued by Braess’s paradox, especially because I have grown up dealing with the frustrations of Los Angeles freeway traffic. The academic article, “Investigating Los Angeles’ urban roadway network from a biologically-formed perspective,” conducted by […]
Engaging with North Korea: Lessons from Game Theory
As most know, North Korea remains one of the most repressive countries in the world. The authoritarian leader Kim Jong Un has shown a thirst for power throughout his 11 years as the “supreme leader”. Under his rule, North Korea has increased its arms testing and nuclear threats, tormenting many around the world. Due to […]
Ticket Resale in the Entertainment Industry and the Matching Market
Recently, the globally popular Korean girl group Blackpink released its world tour schedule and the ticket sale for the North American concerts started on September.13th. After the immediate sold out of the tickets, resale tickets appear on various platforms, and the original prices of the first-hand tickets became unknown to everyone other than the buyers. […]
Game Theory in the Professional Sports Industry
Resource: https://www.sportseconomics.org/sports-economics/category/game-theory Sports and strategy are almost synonymous, as there are many instances in professional sports, like a penalty kick or a tennis rally, which can be considered as mixed strategy games having strategic interdependence. These are direct and obvious examples of game theory in sports, yet I knew the world of sports must have […]
Balanced Triadic Closures in Action: How Tesla, Hertz, and Uber Corroborate to Profit from Drivers
In recent years, Tesla usurped the vehicle market, transforming it into one of the most sought-after automobiles. People rave about Teslas’ zero to sixty time, groundbreaking graphic user interface, and self-driving features. How can we forget, its zero gas emissions, resulting in cheaper energy costs? Teslas’ are truly remarkable vehicles demanded at higher rates every […]
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