Game Theoretic Study of Moral Behavior
In the article ‘Interaction between games give rise to the evolution of moral norms of cooperation’ sourced from the Max Planck Institute, the authors use game theory to explain how individuals exuding moral behavior benefit more than those who set their self-interests first. The theory aims to answer the question – why must one act […]
ebay: The modern day market
Ebay is an online marketplace that has become a popular betting market in connected networks. The way Ebay works is that buyers and sellers use an auction-style system to bid on items. This system relies heavily on signaling and information cascading. Signaling is used to show potential buyers and sellers the item’s worth and allows […]