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Economic theories that have changed us: game theory

Partha Gangopadhyay, University of Western Sydney

Welcome to our series on economic theories that are changing the way we think. Today, Partha Gangopadhyay explains game theory. 878 more words


Suggested Reading: Computing with Quantum Cats

John Gribbin — Computing with Quantum
Cats: from Colossus to Qubits
— Prometheus Books, 2014,
295 pp. ISBN 978-1-61614-921-5

The book presents the genesis of the various ideas that may lead, one day, to a practical quantum computer. 131 more words

Suggested Reading

Monte Carlo Method and Pi Day!

Monte Carlo methods (or Monte Carlo experiments) are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other mathematical methods. 1,004 more words

Data Science Resources

What do we mean by "risk"?

JDN 2457118 EDT 20:50.

In an earlier post I talked about how, empirically, expected utility theory can’t explain the fact that we buy both insurance and lottery tickets, and how, normatively it really doesn’t make a lot of sense to buy lottery tickets precisely because of what expected utility theory says about them. 1,579 more words

Critique Of Neoclassical Economics

John von Neumann and the fly

The story was that John von Neumann was asked about the following problem :

  • 2 bikes are headed toward each other at the same speed 60 km/h, they are separated each other by 2 kilometers.
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Von Neumann

It was the anniversary of John von Neumann’s death last Sunday. If I had an intellectual hero it would be von Neumann; he basically was an expert in… 1,135 more words


The Genius among the Cyberneticians; 12-Feb-2015

I remember pouring over the first few pages of A Short History of Nearly Everything by Bill Bryson and thinking how science would become so interesting to study if we added the real stories behind discoveries, inventions, discoverers and inventors. 63 more words

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