Information Cascades and Rebellions
Information Cascades occur in instances where people are making decisions one after each other, with each person aware of the decisions made by those before them. The person making the decision infers information from the decisions those before him have made. Information cascades occur everywhere from financial markets, social media, and politics. “Information Cascades and […]
Football Game Outcome Picks and “Taking the Points”
Have you ever watched an NFL or College Football Gameday preview and been confused as to why a football expert picks a clear underdog team to win and his or her explanation is that he or she is “taking the points” in the game? As we discussed in class with respect to horse betting, these […]
The Internet’s Influence on Information Cascades
In the age of the internet information is very accessible, so it spreads very quickly and easily in a short period of time. As such, it is not uncommon to see people expressing their opinions through a variety of media and trying to convince others to take their side in a matter. The hope is […]
Classifying Movie Reviews using Bayes
Original Article: https://www.dataquest.io/blog/naive-bayes-movies/ This article describes an algorithm for classifying movie reviews as either positive or negative reviews. Given a training set of text reviews that have been marked as positive or negative, the ‘Naive Bayes’ classification algorithm can produce a set of rules to predict the positivity/negativity of other reviews. There might not be […]
Invite-Only Marketing Strategies
The article linked below discusses the risks and rewards of an invite-only marketing strategy. In lecture we have explored how networks effects can make it difficult for new products to become popular, particularly for services such as social networks where the value of the service depends on the size of its user base. In order […]
Paris and Information Cascades
A depressing event took place earlier this month as terrorists attacked Paris. The violence that happened in Paris literally shook the world as the news spread online like wildfire especially in social media sites like Facebook. Many users of Facebook posted statuses voicing their concerns for Paris and used photo filters to display their profile […]
Information Cascading in the 2007 Financial Crisis
Information cascades have transformed the way that we make decisions. In formal terms, this cascade forms when a person in a group chooses to make a decision based on the previous actions of someone that he or she trusts. Cascades occur often in social networks and in advertisements, such as whether someone should attend a […]
Pirate Game Analysis – Intuitive vs. Theoretical Results
The pirate game is famous multi-player game that can apply to different mathematical and economic models. The game has the following rules: suppose 5 rational pirates, A, B, C, D, and E, try to distribute 100 golds. Pirate A is superior to B, B is superior to C, C is to D, and D is […]
Study Examines Social Class and Social Media
This article presents an interesting study that analyzed over 50 billion friendships across 187 countries. A Harvard professor suggests that people from “high social class” tend to have lower percentages of international friends. The study investigated 857 Americans who self-reported their social class. The researchers found that the individuals who belong in the high class […]
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