The telecom war between Reliance Jio and Airtel was only a preamble to the impending battle between Google and Jio. Nitish Kumar broke the mahagathbandhan while seeming to try to bend RJD to his will. All the schmoozing between Trump and Xi hasn’t reduced the North Korean nuclear threat. Could we have predicted these outcomes before they actually happened? Yes we could have—not with IQ or EQ, but with ‘Game Theoretic Quotient’. A new intelligence, a new way of looking at the world. Game Sutra highlights the underlying strategic considerations of entities as diverse as heads of state, bitcoin miners and CEOs of internet companies to explain their decisive choices. Immerse yourself in its heady mix of cogent fact and smart analysis to develop your ‘game theoretic quotient’. Your world will never be the same again.
Chapter 50: The Auction That Runs the Internet
The Auction That Runs the Internet
Our ability to trawl through billions of web pages, connect to a global community and carry out a multitude of commercial transactions on the Internet is driven by a simple economic mechanism—the auction for online ads whose revenue amounts to over $50 billion per year. Here, it is shown how a simple change in the rules of the auction allowed the mechanism to avoid ruinous bidding wars or gaming by robots.91
Love it as an information highway or loathe it as an ‘electronic asylum of babbling loonies’, you can't help but be amazed by the Internet. And yet our ability to trawl through billions of web pages, connect to a global community and carry ...