Thinkwist (Page 17)

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Auction Theory

Auction theory is a part of applied economics. It deals with designing real-world auctions, most notably the auctions for the electromagnetic spectrums. In an auction, some kind of resource is allocated to participants based on their bids, usually the highest. The bids can be placed openly or as sealed offers.

Brain Simulation

Brain simulation deals with creating a computer model of the brain. Such models can help in understanding diseases and reduce the need for animal experiments. The challenges in brain simulation are: Scale : The human brain contains about 86 billion neurons each with about 7000 connections. This pushes even the largest

How to read a URL

The internet is built on 3 pillars: HTML, which is used to make web pages; HTTP which is used to send and receive information over the internet; and the URL. URL Syntax scheme: [ // [ userinfo@ ] host [ :port ] ] [ / ] [ path ] [ ?query ] [#fragment ] Scheme is the protocol. In most cases it is either HTTP

Hype Cycle

[Gartner Hype Cycle](https://en.wikipedia.org/wiki/Hype_cycle) A hype cycle is a branded graphical representation of maturity and adoption of new technologies. The hype cycle is divided into 5 regions Innovation Trigger : A trigger, usually in the academic world, that enables some new kind of technology. Sometimes

Risk Free Rate

Risk free rate is the rate of return for a risk free investment, i.e an investment that will payout no matter what the scenario or condition is. This is usually used as a baseline to compare other investment opportunities. The most common risk free rate is the current rate

Microevolution

Microevolution is an observable change in frequency of the occurrence of certain traits within a population. An example of this is the antibiotic resistance seen in newer bacterial strains. Recent study shows that more babies are being born without wisdom tooth and an extra artery. There are 4 ways in

Stochastic Process

A stochastic process is a random process that changes over time. In probability they are represented by a random variable. They are widely used as mathematical models to study and understand random processes. Some examples Stochastic processes have been used to explain random fluctuations in financial markets. Stochastic process can

Deterministic vs. Non-deterministic

In computer science, if a particular algorithm produces the same result for the same input than it is said to be deterministic. And if the algorithm produces different results for the same input than it is said to be non-deterministic. In both cases the algorithm, can run on a deterministic

Context Switching

Our brain is designed to focus on one task. However, by multitasking we are training it to be distracted by multiple stimuli. Each time we switch tasks we lose our focus. The brain takes some sometime before it can readjust to the new task. On an average it takes 23

Spotlight Effect

Have you ever tripped while walking in public and felt the gaze of everyone around you? But in reality, nobody even noticed. Well that is the spotlight effect. You tend to believe that you are getting all this attention due to something. We perceive the world around us with ourselves