Sequential Sampling by Bayes’ Theorem
In class, we discussed about they Bayes’ Theorem. Bayes’ Theorem stated how a subjective degree of belief should rationally change to account for evidence. Bayes’ Theorem is also widely used in sequential sampling. The paper stated several different kind of sequential sampling problem. The basic problem is The Sampling Selection Problem. For example, someone wants […]
Advertisements and traders
People commonly think that what we get from the Internet, such as tremendous information, social networks, and the news, is for free because it does not ask for money in front of your eyes. However, virtually, as you join in one of the sites or as you randomly click on something on the page that […]
When Was MySpace More Popular than Facebook?
I am writing about an article that was written in 2007. During this time, social networking was one of the most popular activities on the web. And believe it or not, MySpace was by far the best social networking site. They had about twice as many users as Facebook and had almost 7 times the […]
China’s Gaming Market
It should come with little or no surprise, that China possesses a huge market for games and electronics. And as this article explains, that market can be very difficult to penetrate, especially for foreign game developers. In fact, many companies tend to avoid China altogether, as the Chinese government’s strict regulations make it very challenging […]
The Effect of Social Networking Sites and the 2012 Election
Unlike the 2008 elections, the 2012 elections have seen a significantly higher use of social networking sites and online media campaigning. For the past couple of months Facebook, You Tube, Google, and Twitter have been bombarding people with and friends alike with various campaign gimmicks and messages in order to sway a voter one way […]
Information Cascades aplenty in Finance Markets and Real Estate
As discussed in class, Information Cascades is the phenomenon wherein when a group of people are connected by a network, it becomes possible for these people to influence one another’s decisions. We discussed the simple herding model where people make decisions sequentially, and each person can observe the choices made by those people who acted […]
How the Blackberry sales benefit from a mixture of information cascades and direct benefit effect in India
In class, we discussed the impact of direct-benefit-effects, also called network effects, on the choices made by consumers. One of the most natural settings for this to take place is the technology sector. The value that a product has is directly related to the number of other people using it. We also discussed the idea […]
Wikipedia and the “Arrow of Time”
When Jimmy Wales launched Wikipedia in January of 2001, nearly thirteen years ago, its highly doubtful that he knew what a giant the company would become. Wales is quoted saying, “”Imagine a world in which every single person on the planet is given free access to the sum of all human knowledge. That’s what we’re […]
Facebook: Marketing Powerhouse
Facebook has become more than just a social networking site. It has opened up opportunities for advertisers to reach and build their audience in a relatively cheap, fast spreading, and easily accessible way. However, Facebook does not provide a completely new approach. Like email and google ads, Facebook allows advertisers to groom their target lists, […]
A Model of Trade on Networks: Microsoft Surface
The emergence of Microsoft Surface has brought excitement to the consumers of tablet computers. In a nutshell, Microsoft Surface is an innovative tablet computer from Microsoft (obviously) running Windows 8 OS (or Windows 8 RT). The most interesting thing about the tablet is that it is a hardware manufactured from Microsoft, which is extremely rare […]
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