Our former Prime Minister, Keqiang Li, has passed away in Shanghai today. Rest in peace. Li, an economist, earned his Ph.D. from Peking University and received the Sun Ye Fang Best Thesis Award for his dissertation – quite an achievement. In memory of this exceptional economist and remarkable individual, here’s a poignant tribute: 纯真而不欠闻达，善良而不失坚强，把生命高举在尘俗之上，又溶化于社会之中，这应当是我们这一代的共同追求。 Innocent yet not lacking in knowledge, kind yet unwavering in strength, lifting life above the mundane while melding with society – this should be the collective pursuit of our generation. ...

I watched and found a very interesting quote on…YouTube. Guess who said it. Trying to stop people from doing things that they want to do, doesn’t always stop them. Sounds like something Hermione Granger said The best way to get people to read something is to ban it Try reading the italicized words in staccato and you’ll get the authentic Hermione accent. OK… just kidding. Al Roth said it in his “big idea” talk on YouTube. It’s such an insight, and not only applied to market designers obviously…

I’ve been reading up on keyword query ranking optimization literature recently. In this context, we’re looking at e-commerce platforms like Amazon or Taobao, where multiple third-party sellers offer similar products when a user searches for a specific keyword. The platform’s goal is to maximize both the seller’s profit (a combination of surplus and revenue, calculated as price multiplied by quantity) and consumer satisfaction. So, the main questions here are: How should products be ranked? Is there an optimal strategy for auctioning slots to provide additional information and boost profits? However, while going through these materials, another intriguing thought crossed my mind. In the realm of consumer behavior on e-commerce platforms, inspired by recent shopping frenzies like the double-11 shopping festival, here’s an idea: could consumer search theory offer a more effective way to model the impact of placing a “buy now” button above the “add to cart” button? ...

The Freakonomics podcast delivered some inspiring insights today, focusing on a spectrum of failure assessment, from the most blameworthy to the most commendable. Failure, in this context, is defined as a preventable negative event. Amy Edmondson, a guest on the podcast, categorized the causes of failure into six distinct categories: Sabotage Inattention Inability Task challenge Uncertainty Experimentation While these categories are distinct, most failure events likely result from a combination of several causes. They may represent the most significant contributing factors or the decisive factors that lead to failure. In essence, failures are often the outcome of multiple causes. Nonetheless, it is valuable to dissect these causes and assess their individual severity. ...

Shanghai and LA share a common thread, their shared essence of being overwhelming kaleidoscopes of glamour. It’s as if both cities, like a scene from the classical spectacle of LA LA Land, break into song and dance, creating a harmonious yet complex symphony of life. the lyric of ‘A Lovely Night’ soundtrack of LA LA LAND. What a waste of lovely night… life’s too short, not a single nights should be wasted. as does tonight. ...

The platform economy is indeed a formidable force, and this assertion is not without merit. Yesterday, after watching a routine Premier League match featuring Manchester City, I experienced a striking example of the platform economy’s impact. Around 00:05, when all public transportation had stopped running, I had no option but to order a Didi taxi, a service similar to Uber, to return to my dormitory. To my surprise, a driver quickly accepted my request, indicating that the demand was relatively low. ...

EconCS lab opening As yesterday’s blog mentioned the opening premiere, here’s the fresh recap. The first section features ceremonial talks, and the second is a more lively discussion of mechanism design, economics, and artificial intelligence. Section 1: Ceremonial Talks The first section of the event was filled with what we can affectionately describe as “ceremonial talks.” These talks are often marked by grand visions and mutual compliments, leaving the audience yearning for more substance. However, there was a beacon of hope in the form of my advisor who is also the director of the lab, managed to infuse genuine content into his speech. ...

OMG, it’s finally Friday! Tomorrow marks the launch premiere of a new Econ-CS lab, and we have some exciting talks lined up: Jianwei Huang from CHUK-SZ, Xiaolei Wu from FDU, and Jirong Wen from Renming University will be giving three engaging presentations. I initially planned to attend a coffee festival in the morning, but given that they’re offering complimentary coffee and snacks during the tea break, and with many of my friends, my advisor, and the entire ITCS community attending, it seems like a great idea. It’s sure to be a cool experience. ...

I got tired of reading papers after papers so today I went on all the profiles of the authors of the read papers so as to find something interesting. While browsing Professor Negin Golrezaei’s profile, I stumbled upon a series of captivating reports delving into the fierce competition that Amazon shops face. Two of the most fascinating ones are from BuzzFeed News: “Some Amazon Sellers Paying $10,000 Monthly to Game the Rankings” (Read Here) “Inside Amazon’s Fake Review Economy” (Read Here) It’s really sad but also hilarious. Moreover, an increasing number of Chinese producers are entering the market, opening stores on Amazon, and using international shipping to fulfill their orders. They’re introducing a malicious style of competition, reminiscent of Taobao’s practices, which could marginalize local family-owned brands not adept at advertising and navigating this unscrupulous terrain. It’s genuinely distressing to witness. ...

Recently I’ve been really obsessed with the song MONOPOLY by Ariana Grande and Victoria Monét Treat like goals like property, collect them like monopoly. It barely has nothing to do with “monopoly” but also has everything to do with monopoly. The song is just as playful as several other Ariana’s “insignificant” singles: Work so fuckin’ much, need a twinny, twin, twin (Yeah) You’d be straight for life if I gave you my PIN (Yeah) ...