Category Archives: Economics

Futures Trading as a Game of Luck

A recent interesting article by Ariel Rubinstein entitled “Digital Sodom” (in Hebrew) argues that certain forms of  futures trading (and Internet sites where these forms of trading take place) are essentially gambling activities.  The issue of “what is gambling” is very intereting. In an earlier … Continue reading

Posted in Economics, Games, Law | 9 Comments

Michael Schapira: Internet Routing, Distributed Computation, Game Dynamics and Mechanism Design I

This post is authored by Michael Schapira. (It is the first in a series of two posts.) In this post, I’ll outline work on Internet routing and sketch important areas for future work, both on routing itself and, more broadly, on … Continue reading

Posted in Computer Science and Optimization, Economics, Guest blogger | Tagged , , , | 4 Comments

Impossibility Result for “Survivor”

Consider a set of agents and a directed graph where an edge means that agent supports or trusts agent . We wish to choose a subset of size of trustworthy agents. Each agent’s first priority is to be included in … Continue reading

Posted in Computer Science and Optimization, Economics | Tagged | 10 Comments

Chess can be a Game of Luck

Can chess be a game of luck? Let us consider the following two scenarios: A) We have a chess tournament where each of forty chess players pay 50 dollars entrance fee and the winner takes the prize which is 80% … Continue reading

Posted in Controversies and debates, Economics, Games, Law, Probability, Rationality | Tagged , , , , , | 44 Comments

Social Choice Talk

I took part in a workshop celebrating the publication of a new book on Social Choice by Shmuel Nitzan which took place at the Open University. (The book is in Hebrew, and an English version is forthcoming from Cambridge University Press.) … Continue reading

Posted in Economics, Games, Rationality | Tagged , , , | 3 Comments

Basic Open Research and Failed Institutions – Imagine

Imagine if in the last ten years before the collapse, the huge failed financial and insurance institutions had had independent research units devoted to doing basic, open, and critical research on matters of relevance to the business, ethics, and future of these institutions. Might it have made a small … Continue reading

Posted in Economics, Rationality | Tagged | 5 Comments

The Hex-Voting-Rule (Not Recommended)

Blue wins – if there is a right to left continuous path of blue regions Red wins – if there is north to south continuous path of red regions (A region is red or blue according to the majority of … Continue reading

Posted in Economics, Games | 13 Comments


   Malawi Here are two additional sectionettes from my “Notices of the AMS” book review entitled “Economic and Common Sense” on Steven Landsburg’s book “More Sex is Safe Sex – the unconventional wisdom of economics”.  Both sectionettes deal with Government intervention in economics. The first is about fertilizer … Continue reading

Posted in Economics | Tagged , , , , , | Leave a comment

The Prisoner’s Dilemma, Sympathy, and Yaari’s Challenge

Correlation and Cooperation In our spring school devoted to Arrow’s economics, Menahem Yaari gave a talk  entitled “correlation and cooperation.” It was about games as a model of people’s behavior, and Yaari made the following points: It is an empirical fact … Continue reading

Posted in Economics, Games, Philosophy, Rationality | Tagged , , | 3 Comments

Arrow’s Economics 1

The annual Summer School in Economics at HU was directed until last year by Kenneth Arrow, along with Eyal Winter. Arrow decided this year to step down as a director and Eric Maskin is replacing him. The 2008 Summer School was … Continue reading

Posted in Economics, Open problems | Tagged , | 12 Comments