Game Theory for Airport Security? It’s Happening: ARMOR at LAX
The Airport Security Game Airports and terrorists are constantly engaged in a game. Airports create security systems and terrorists seek out breaches. The game has several defining characteristics. 1. It is a sequential game (Stackelberg) Airports have to act first. They set up defense systems and secure vulnerable areas. Terrorists have a second mover ...

Want to Win? Try Relaxing
My previous boss told me I was among the best consultants he'd ever worked with. This came as a bit of a surprise to me. I wasn't the smartest person he worked with, nor was I the hardest working, nor was I the most efficient. But I had one competitive advantage in ...

What do You Want to Know about Auctions?
In the internet age, auctions are everywhere. Auctions are used in eBay, Craig's list, Google Adwords, dating websites, and job websites--just to name a few. Auction theory can help you navigate the uncertainty. You can improve your position as an informed buyer or seller. I've used the auction theory to buy ...

How Sports Illustrate the American Work Ethic
"We are the champions No time for losers 'Cause we are the champions - of the world" --Queen, song lyrics What do Michael Jordan, Tiger Woods, and Randy Johnson have in common? There is the obvious answer: they are all champions. They all won championships and dominated their respective sports. But that's only half of ...

The Leaders Dilemma: How to Generate Cooperation at Home or Work
Motivating Joke One I found in my email: A couple in their nineties was having trouble remembering things so they went to their doctor for checkups. The doctor told them that they were both physically fine and advised them to write things down to help them remember. Later that evening while watching television, ...

How to Enter a Tax Refund (or Payment) When Tracking Money
It's already several months into the calendar year, but you just received the tax refund (or had to pay) for the income you earned last year. How should you enter it when tracking your money? I'm not an accountant, but I have considered two main choices that work practically: backdate to ...

When I Choose to Outsource My Chores (Hint: It is Rare)
Outsourcing is not just a business concept. It's a life philosophy. Divide, delegate, and conquer. This attitude is why working professionals think about hiring help for cooking and cleaning or even for scheduling medical appointments. After all, why would do something yourself when you can get someone to do it for you? ...

I Don’t Budget–Here’s Why
If you like budgets, you don't need to read more. If you have never tried a budget, then give one a try because experience is the best teacher. This article is meant for people who have tried budgets, realize they have faults, and are confused why financial people keep yelling at ...

The Hat Puzzle (A Consulting or Engineering Interview Brain Teaser)
The Hat Puzzle is one of my favorites. This is one of those brain teasers people might ask in an interview for a consulting or engineering job. Here is the problem, as worded by Sara Robinson (this is a good article to read): Three players enter a room and a red or ...

The Speedo LZR Racer Might Make the Olympics Less Interesting
The big news in swimming is about Speedo's LZR Racer suit. The suit was introduced in February and its technological superiority is allowing swimmers to break world swimming records. In just two months, almost 20 long-course world marks have been set from swimmers using this suit. What's the big difference? Here's ...

Should You Exercise to Live Longer?
I'm not a medical professional, but this is what I understand. Walking for thirty minutes a day is helpful. It promotes health and trims our waists. I'm amazed we can have happier and longer lives from something as simple as a thirty minute daily stroll. If moderate exercise is good, then ...

Manage Your Brand like Michael Jordan: Avoid Gossip Wars and Mutually Assured Destruction (MAD)
Growing up, I wanted to be like Michael Jordan. I think that was the dream of every kid I knew. We wanted the shoes. We drank Gatorade and ate McDonald's. We stuck our tongues out on the court. Okay, so none of that really worked. But we weren't wrong about wanting ...

Is Sex Making Men Lose Money?
This is a thought that crossed my mind after mulling over a few recent studies. I came to one gut reaction: internet pornography is making men lose more money. Take a look at the evidence for yourself. What do you think? 1. Overwhelmingly, Men Look at Internet Pornography There are some amazing (and ...

Google and the FCC Spectrum Auction
By popular demand, more game theory! In addition to the Tuesday articles, which have an academic focus, I will occasionally post a bonus article, which will be about game theory in the news. Since the task will involve industry specific knowledge, you'll get less of me and more from experts and ...

How would being filthy rich change your weekend?
For me, it would not change much. I have a key observation to back this up. I have friends from many income levels. This ranges from indebted students with limited budgets to millionaire entrepreneurs who can do whatever they want. What's different when I hang out with the students and the millionaires? ...