Mind Your Decisions

Many Adults Are Stumped By The Horse Riddle – Can You Solve It?

A man buys a horse for $60. He sells it for $70. He then buys the horse back for $80. And he sells the horse for $90. In the end, how much money did the man make or lose? Or did he break…

- 3 weeks, 6 days, 23 hours, 53 minutes ago

Why Logical Economists Don’t Exchange Gifts. Game Theory Tuesdays

Do yourself a favor and analyze the logic of gifts. Figure out how much you spent on gifts to friends. Then add up the value of the gifts you received–that is, how much you think the…

- 1 month, 1 day, 23 hours, 54 minutes ago

Can You Identify If The Coin Is Counterfeit In One Weighing? Sunday Puzzle

An evil warden holds you prisoner, but offers you a chance to earn your freedom. You are given 101 coins, of which 51 are genuine and 50 are counterfeit. Each genuine coin is identical. And…

- 1 month, 3 days, 23 hours, 21 minutes ago

Thomas Schelling, Nobel Laureate Game Theorist Has Died At Age 95

Here is background on his work from The New York Times. Also see: University of Maryland (in memory with personal comments) and Harvard Gazette obituary. Schelling made a number of game…

- 1 month, 1 week, 1 day, 18 hours, 17 minutes ago

Game Theory Applied: Why Is There A Pint Glass In The Corner Of TVs At Pubs?

In England, if you watch football (soccer) in a pub, there might be an icon of a pint glass in the corner of the broadcast. Here is what it might look like: From YouTube / Daniel Scott…

- 1 month, 1 week, 1 day, 23 hours, 19 minutes ago

Solving For The Angle In A Star – Sunday Puzzle

Can you solve for the measure of angle A in the following figure? This problem appeared on the 1999 AMC 8 test, problem 21. This is a test given to 8th graders in US. Approximately 75% of…

- 1 month, 1 week, 4 days, 56 minutes ago

A Stag-Hunt Experiment In India. “Low-Caste” Men Cooperated More Than “High-Caste” Men. Game Theory Tuesdays.

Two hunters independently choose their targets. A hunter that goes after a hare will catch it for sure to get a small meal. If both hunters go after a stag, they will also catch it and each…

- 1 month, 2 weeks, 1 day, 23 hours, 25 minutes ago

The Missing Sock Problem – Sunday Puzzle

A statistician keeps a simple wardrobe. He only purchases pairs of black socks and white socks, and he keeps all of the socks in a pile in the drawer. Recently one of the socks was lost in…

- 1 month, 2 weeks, 3 days, 23 hours, 39 minutes ago

Clarifications For Two Khan Academy Game Theory Videos. Game Theory Tuesdays

Khan Academy has two videos concerning the prisoners’ dilemma and the Nash equilibrium. I found the presentation a bit odd at points, and in this post I wanted to mention a couple of…

- 1 month, 3 weeks, 2 days, 2 minutes ago

Can You Solve The Diluted Wine Puzzle? Famous 16th Century Math Problem

A servant has a method to steal wine. He removes 3 cups from a barrel of wine and replaces it with 3 cups of water. The next day he wants more wine, so he does the same thing: he removes 3…

- 1 month, 3 weeks, 3 days, 23 hours, 41 minutes ago