Monthly Archives: May 2014

A Model of Exploration

One of the most ubiquitous class of problems we are faced with is choosing from one amongst a variety of options. Some choices are not so serious, such as choosing a movie to watch, or a restaurant to eat at. … Continue reading

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Trade and Asymmetry of Value

Trade, or barter, or exchange of one commodity for another, is one of the foundations of modern life. Most transactions today are carried out using money. Money is exchanged for something – fruits, a home, a person’s time, etc. We … Continue reading

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Autorickshaw Fares

Autorickshaw trips are priced by distance. This is something we have come to accept over time. However, this is not the only way, and may not be optimal either. There are several ingredients that go into hiring an auto – … Continue reading

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