The Power of Network Effects
http://systemsandus.com/2015/01/18/network-effects/ The article points out the power of network effects, the creation of network effects, and the defeat of a network. The power of network effects lies in the value that increases along with an increase in the number of people using the product. For example, the value of yelp increases with the increase in […]
Information Cascades in the Internet Age
Source: http://continuations.com/post/5189184538/fake-quotes-and-information-cascades One example of information cascades can be seen in the spread of a fake quote by Martin Luther King Jr. After the raid on Osama bin Laden many people were posting the quote “I mourn the loss of thousands of precious lives, but I will not rejoice in the death of one, […]
The Jonah Berger Formula
From class discussion on the distribution of popularity and the success of certain products using network effects, I found assistant professor at the Wharton School of Business, Jonah Berger’s, studies on how products, ideas, and behaviors become social phenomena, to be extremely interesting and very tangibly related to this topic. In his work, he focuses […]
Information Cascades in Voting
When people thing of voting, they think of voting in a static way. Most people view voting as an event where everyone goes to the poll at once and without knowing who everyone else is voting for votes for their preferred candidate. However, polling for presidential candidates does not follow this path. While voters in […]
Network Effects on Trading
https://mktstk.wordpress.com/2015/08/13/the-network-effect-in-trading/ In class we have generally viewed networks effects in situations concerning markets and how people act in markets. It is important to realize that the concept of network effects can be taken to any situation where people are part of the fundamental basis in making decisions and choices. This article demonstrates how we can […]
How does Facebook Manage Its Advertisements?
As everyone knows, the current popularity of social media sites such as Facebook, Instagram, and Twitter are making advertising on such sites increasingly lucrative. However, while all of these companies allocate ad slots to buyers, the way they go about it differs from site to site. This article analyzes the way in which Facebook determines […]
How Unbiased is Google Search?
We like to think that increased access to information necessarily means less biased information. The problem remains, however, that we have a limited ability to consume information, and thus some selection (either manually by a human, or automatically by an algorithm) must occur. In a captivating TEDx talk by Swedish author and journalist Andreas Ekstrom, he first […]
Network effect beneficial for the iPhone
Behind the Rubik’s Cube, Apple’s iPhone has been the greatest selling product of all time. How much can the iPhone’s success be attributed to a given individual’s valuation of the product based on its quality, versus how popular it is? In terms of what we’ve discussed in class; which is a greater factor for the […]
Wisdom of the Crowd in the Real World
In Chapter 22, we discuss how the beliefs of a every individual in a group of people can lead to very accurate aggregate beliefs. This phenomenon is called “Wisdom of the Crowd” and plays a huge role in people’s everyday decisions. One study performed on this phenomenon by Jack Treynor, the president of a management […]
The Success of OnePlus One Marketing
The OnePlus One is a smartphone made by the start-up company, OnePlus. As a new company, OnePlus wanted to gain some market share of the cell phone market. Although the smartphone market is mainly dominated by companies like Apple and Samsung, the OnePlus One was still able to successfully compete with these companies and sold 1.5 […]
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