Let the Information Cascades Flow
http://www.newyorker.com/science/maria-konnikova/how-frozen-took-over-the-world
http://www.ser.tcu.edu/2005/SER2005%20Terry%20Butler%20DeArmond%20137-148.pdf
Since its 2013 release, the success of “Frozen” has only skyrocketed. From merchandise to baby names, the influence of the movie has permeated every corner of our current culture. Much of its fame and its ability to capture the public resulted from multiple sources. The storyline, timing of the release, and critics’ reviews hold some leverage over the success of a film. However beyond that, much of the movie’s success translates to how quickly and efficiently the “buzz” for the movie transfers from person to person. Social media comes to play, allowing information to disseminate at the click of a button. But personal suggestion, from friend to friend or family member to family member has allowed “Frozen” to transcend the typical box success of a hit movie.
Independently each individual possesses some private information that influences his or her decision. This information plays into the individual’s direct benefit, because the individual seeks his or her own maximized benefits. On the other hand, information cascades is a form of crowd-following. In a situation where the decisions of others causes the abandonment of private information, information cascades results and can create an exponential, ripple effect. Rather than relying on one’s private information, the individual makes a decision based on the decision of others because he or she believes that the other people know some piece of information that the individual does not know. This form of crowd-following may be baseless when the person being followed also happens to be a follower possessing no real information. Thus there’s a chain effect, better known as a snowball effect, which can exaggerate an event beyond normal proportions.
In the case of “Frozen”, what started out as a typical, heart-warming Disney film, became an international hit by the heavy impact of information cascades. Positive feedback, a phenomenon where A causes more B, which only causes more A, generated more publicity for “Frozen”. The movie’s hit songs and characters encouraged the public to interpret and relate to the content, allowing a plethora of multiple “Frozen” covers and even parodies to result, which in turn exposed the movie even more to those who haven’t yet watched it. The information cascade is a networking effect that gives insight into why a “Frozen” culture manifested. By understanding the social behaviors that led to this movie’s unusual success, we can understand how profound of an impact social influence has on an individual’s decision.