Super Expensive Drugs and the Market with Asymmetric Information
Gilead Sciences, a huge biopharmaceutical company, introduced its new and powerful hepatitis C drug two years ago. One of the special things about the drug is that it is charged at a very high price, $ 84,000. It is related to the topic discussed in our lecture in the sense that there exists an asymmetric […]
Cascades and Consequences: Social Media Edition
http://www.engadget.com/2015/11/19/paris-and-the-trail-of-social-media-misinformation/ This article, from endgadget.com, addresses directly the dangers of information cascades in social media. Specifically, the article addresses the spreading of misinformation in the wake of tragic events, such as the recent terrorist attacks in Paris. One specific example is the image of a Sikh man photo shopped from holding an iPad in a […]
Cascading Behaviors in Social Networks: Paris and Beirut
Popular content that spreads through the masses, should it be a story about a product, person, or event, can be classified as having gone ‘viral’. There is no clear cut formula for creating viral content, but we have seen in this course the elements involved and the information cascade that happens among people. There are […]
Advertising through Facebook Groups
Information cascade can be seen in many aspects of life. One of the most common situations where this phenomenon takes places is on social media – specifically Facebook. Some features of Facebook that facilitate information cascade are Facebook events, pages, and groups. At DePaul University, a study was conducted on viral advertising through Facebook groups. […]
Network Effect, Overhyped?
http://www.businessinsider.com/network-effects-2011-5 Recently my friends started playing a certain game. At first, I wasn’t interested in playing but as more of my friends in my friend group downloaded the game, I felt the urge to play as well. I started believing at some point that this game will be interesting based on how many of my […]
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