Search results for keyword: intuition
VAR method
The many benefits of working remotely have bee well-documented. Remote work allows employees to has improved work/life balance, enhanced job satisfaction and higher job dedication, and improved productivity and creativity. With the right balance of autonomy, motivation, and collaboration, remote w......
12/07/2023 
1051 
Lily
incomplete information game
Incomplete Information Games
Games involving incomplete information are quite common in our daily life. Whether it be business decisions, negotiations, or interactions in social circles, incomplete information games can be found in any situation involving decision making. Such games provide a gre......
lottery choice experiment
Lottery ticket selection Experiment
In recent years, lottery ticket sales have experienced a rapid increase, as people have become more aware of the entertainment value of purchasing a ticket and the potential rewards they could gain from winning. This, in combination with the ease of purchasing ......
paradox
The so-called Haleys Paradox was first proposed by the American philosopher, John Haley, in the late 19th century. His paradox revolves around the premise that it is impossible for an arrow to be at rest. According to the paradox, an arrow must be either moving in a particular direction, or it m......
birthday paradox
Birthday paradox
The birthday paradox, also known as the birthday problem, is a probability phenomenon which states that in a group of randomly chosen individuals, the probability of two or more of them having the same birthday is actually quite high. The chance is more than 50% when the number of......
Demand Forecast
The Perils of Making Predictions
Aristotle, the ancient Greek philosopher, famously said, “It is the mark of an educated mind to be able to entertain a thought without accepting it.” As modern society attempts to better predict the future, this quote has taken on a new relevance. Making predict......
Jorgensen model
Jorgenson Model
The Jorgenson Model was developed by Stanley Jorgensen and is a popular macroeconomic model used to measure the economic well-being of individuals, businesses and the world economy. The model is based on the concept of gross domestic product (GDP), which is the total output of goo......
marginal analysis method
In current business, many managers make decisions based on the estimated marginal revenue and estimated marginal cost. However, they are likely to make effective and efficient decisions if they use marginal analysis method. Therefore, this paper will introduce the concept of marginal analysis and i......
motivation
As technology advances and continues to shape our society, its becoming increasingly difficult to avoid its effects. While some of its advances provide a great deal of convenience to consumers, it also comes with many downsides. One particular downside is the rise of algorithms and machine learnin......
Grayling and Nelson paradox
Bertrand Russell and Norman’s Dilemma
Bertrand Russells Dilemma is a well-known philosophical puzzle. It is named after the British philosopher and mathematician, Bertrand Russell. The dilemma is also known as the paradox of Norman.
The dilemma states that two people, Norman and Colin, are walk......
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