In 2010, when the mayor of New York City at the time, Michael Bloomberg, closed Times Square and Herald Square to car traffic, citizens were anxious that the city’s traffic situation would become even worse than it already was. However, NYC’s streets were generally less clogged as a result, with northbound cab rides...
Professional tennis is probably one of the toughest sports. As the game has shifted into the realm of high speeds and relentless rallies, equipment has gone through immense developments and players are reaching the peaks of their physical form, the hidden key to winning may now lie with game theory. Economic research...
The costumes looked great. The bags are stuffed with goodies. But the scariest part of Halloween is just getting started: dividing the spoils of trick-or-treating.
If you haven’t yet watched Love Island, a British reality TV show, you haven’t missed out. Its premise is simple: a few dozen very attractive, heterosexual twenty-somethings spend seven weeks in a villa in Mallorca without much more than a bathing suit and a raging libido. Once a week they get to decide whom they want...
A couple of days before Christmas, the CEO of our company sent an email to all the staff asking for someone to research a certain topic. I was immediately reminded of an academic paper I wrote a while back that covered the volunteer’s dilemma (VD). Our CEO’s request provided an excellent opportunity to study the VD in...
In the race to have an advantage in customer retention, most airline companies rely on a cumulative points system to unlock status and purchasing power on duty free items. Behavioural science, the study of human irrationality, can often introduce improvements to traditional solutions: