The Direct Benefit Effect/Information Cascades: Women, Politically Active Individuals, and the Social Media Craze
One cannot deny that social media plays a prevalent role in the daily activities of modern day society. Social media provides people with a platform to communicate as well as a means to share information. According to the article, “Social Media Usage on the Rise for Women and Likely Voters,” women and politically active people […]
Online RSVP- yes means maybe, maybe means no, no means hell no
Nowadays, paper invitations and RSVPs are very rare. Most invitations, except for formal events, have been moved to online RSVPs. However, online invitations, with its advantage of being easy to send out or update, seems to be tied to an interesting phenomena- “yes” is actually a “maybe,’ “maybe” is usually a “no” and “no” is […]
Run on the Bank and the Dangers of Information Cascade in the Markets
Lehman brothers, one of the most reputable firms on Wall Street, declared Chapter 11 on September 15, 2008 in the biggest bankruptcy filing in US history. How did such a massive organization with great client relations and excellent fundamentals fail so quickly? The answer can be explained in one of the most dangerous real-life applications […]
A smarter kind of information
Information as a resource is a concept that is well imbedded into to the daily infrastructure for hundreds of years. We observe, record, and hope that one day we are accredited with being the foundation for vertical progression in society. Adhering to methodology that protects the integrity of new information, along with proper utilization of […]
Research on Information Cascades in Twitter via Linear Threshold Model
Microblogging in recent years has become one of the most pertinent means of online communication that is host to an increasing number of viral phenomena; breaking news, emergency broadcasts, marketing, public relations, promoting new music or movie releases, campaigning, activism and many more. One of the most relevant of these microblogging hosts is indisputably Twitter, […]
Information Cascades in Social Link Sharing
A study at the University of Southern California was performed to demonstrate the spread of information such as news links and photos through social media sites. The purpose of observing the spread of news through social websites is that people are sharing information with those whom they are friends with, which suggests that they have […]
Butterflies in the World Economy
Can a corn farmer in Nebraska who hit the snooze button on his alarm clock cause the next recession? Or can a mentally exhausted computer programmer who let a bug slip by in his code at 3a.m. in the morning be the cause behind the stock market crash? These both are questions of the sensitivity […]
Alibaba: Taking Advantage of Network Effects
Direct benefit effects occur in economic transactions in markets where the behavior of consumers lines up with that of suppliers. They create positive externalities in which one individuals’ decision to use a service directly increases the value of that service to other consumers (and/or suppliers). This is exactly the case with the e-commerce giant, Alibaba, […]
Network Effects Cause for Uber – Spotify Partnership
According to two insiders referenced in a New York Times article, a partnership between the two popular startups, Uber and Spotify, will be announced on Monday, November 17th. These same sources say that the partnership will bring personalized music to Uber customers during their rides. It is not clear exactly how this will work technologically, but […]
Tulip Bulb Mania
The effects of abandoning personal knowledge and using crowd knowledge to make decisions seems to have played a huge role during the 1600 European Tulip bulb mania. During that time, tulips became a hugely sought for commodity in which the belief that a simple flower couple be used as an investment medium drove the prices […]
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