Exploring Information Cascades in Social Experiments
Source: http://abcnews.go.com/Primetime/Health/story?id=1495038 The above news article describes an experiment in which the participants were asked to mentally rotate two 3D shapes, and determine whether or not they were the same. They were asked to write the answers down privately, and then say their answers aloud. However, all but one of the participants were given the answers, and this one […]
Subaru’s Effective Market Entry Strategy Influences Purchasing Behavior
Often times a new product will be created for a market that already exists and has substantial levels of competition. A new product will likely receive some trouble in this situation because a main stream buyer will have a much lower reservation price for the newer and less known product. Thus, the new product will […]
“Rich Get Richer” as Applied to Third Graders
Annie Murphy Paul of Time Magazine discusses the Matthew Effect in her article “Why Third Grade Is So Important: The ‘Matthew Effect.’” In class, we learned about the “rich-get-richer” scheme, which is commonly dubbed as the Matthew Effect. We were given a set of ordered nodes, each with an outgoing link that had a certain […]
Natural Hair Market Prices Hiked due to Increase in Users
In the last decade the number of African American people who wear their hair in its natural curly, kinky, coily state has increased tremendously. The majority of African American women are no longer getting their hair chemically straightened and men have started to let their hair grow longer such that they can style it. This increase has caused the market to […]
Peer Pressure in Networks
http://blogs.scientificamerican.com/anthropology-in-practice/what-do-those-temporary-facebook-profile-pictures-really-mean/ Anyone who has a Facebook page is now very much aware that Facebook is piloting a new feature called the temporary profile picture. In wake of the France attacks, my newsfeed, as well as that of everyone else was inundated with blue white and red profile pictures. The most interesting thing about the fervor with […]
Snapchat’s domino effect
In 2011, Bobby Murphy and Evan Spiegel created Snapchat at Stanford University as part of one of Spiegel’s classes at Stanford. Since then, the application has exploded in popularity and is the new “it” app to have. Speaking from first hand experience, the application has only gotten more addicting over the past few months, and I […]
On Influencing Purchasing Decisions
There are many articles and blogs on marketing and what is involved in getting people to buy your product. One such resource is an article called, “9 Things to Know about Influencing Purchasing Decisions,” that describes nine reasons people may buy your product. Tip #3 and tip #4 were particularly interesting because they stated, “People Don’t Often […]
Disruptive technologies
The article that I chose to explore discusses the idea of disruptive technologies and how they impact different sectors of industry as well as citing examples of disruptive technologies. Before examining in totality what the article explores, disruptive technologies, as the name suggests, are technologies that are so groundbreaking or innovative that existing technologies and […]
Traffic, Road Expansion, and Supply and Demand
It’s commonly thought that transportation expansion, specifically by expanding roads, provides economic benefit to the area in question. It seems simple that expanding infrastructure will not only create a demand for labor and put consumers to work, but it should also alleviate traffic problems that lead to a slew […]
Network Effects and Tidal
Tidal is a music streaming service created by rapper Jay-Z which debuted March, and is co-owned by 18 major artists including Kanye West and Nikki Minaj. Despite all the star power backing it, Tidal is off to a shaky start, and many are skeptical as to its ability to compete with established juggernauts like Apple […]
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