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Bayesian Statistics and Reasoning

A central concept in Bayesian statistics is that the probability you assign to an event’s occurrence depends intimately on what you know. The results of Bayesian reasoning range from obvious (consider that the probability of getting heads twice in two tosses of a coin is zero if the first toss gives tails) to surprisingly counterintuitive. […]

Information Cascades in Depth

http://object.cato.org/sites/cato.org/files/serials/files/regulation/2003/12/v26n4-2.pdf I found this article interesting because it explores information cascades with other factors that were not discussed within the scope of this class. Lemieux discusses information cascades that start with an individual with high-precision signals, and reminds the reader of the fact that since individuals in information cascades participate in “imitative behavior,” much of […]

YouTube Stars vs. Mainstream Celebs

A new study by Variety reveals that teens are more influenced by YouTube stars rather than mainstream celebrities. In a survey, Variety presented 20 well-known celebrities and 20 well-known English-language YouTube stars to 1,500 teens, asking them to rank the people based on “approachability, authenticity and other criteria considered aspects of their overall influence”.  From […]

Global Warming: Fact or Cascade?

As discussed in class, networks are very susceptible to ‘irrational’ behaviors, that is, it is very likely for people connected by a network to get influenced by each other’s behavior and decisions.  There can infinite situations where people get influenced by others and stop behaving rationally and start imitating others. Though for them, they may […]

Information Cascades and Social Networks

An information cascade occurs when a person makes a decision or engages in an act after observing the actions of others, with the usual case being that observation of other people influences the outcome of the decision. With the rise of the internet, we have become more exposed to information cascades, due to the influence […]

How Flocking Behavior Works In Birds — And Humans

There is evidence that humans tend to sync their actions with the group, or crowd’s patterns eventually. This characteristic seems only natural, in that many animals and organisms are very group-oriented; flocks, hives, packs, humans behave very much like animals do in the social setting. Humans are susceptible to conformity, despite our emphasis and pride […]

The Negative Side Of Cascading Information

Our world is crowded with people and information. Since there are so much information for us to process, it’s impossible for us to scrutinize each information carefully. Sometimes we just follow the crowd or the authority, which results in the cascade of information. The journal “Information Cascades” mentions that “A person who is perceived to […]

How Facebook is changing voting.

How Facebook is changing voting. Have you been on Facebook in the last week or two? If you have, you have probably noticed the “I voted” button which you can click and then it is shared with your Facebook friends that you voted. This is an effort by Facebook to increase voter turnout, using what […]

The Ongoing Problem with Medical Journals

We live in an age of sensationalism. Content is meaningless as long as you have a title with a hook. This trend of blasting “news sites” with scores of posts on issues that you “Wouldn’t Believe are True” has unfortunately permeated all sorts of information websites and turned them into glorified entertainment blogs. This trend […]

Cascades and Your Health

We’ve all heard that fats are bad. They have been to blame for big name ailments since the late 70s, and its no wonder why now when we think of heart disease, obesity, and diabetes, fats are the first things that come to mind. As a consequence, the idea that lack of fat is good […]

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