Cascades, Mugabe, and Bitcoin
Decision-making is a major point of interest when analyzing networks. When an individual is presented with a binary decision, the individual generally refer to others’ decisions when coming to their own decision. For example, if someone is deciding which restaurant to go to, they may go to a restaurant that appears to be busy, expecting […]
An Empirical Test of the Lemons Model
George Akerlof famously pointed out that there are two possible outcomes when sellers have better information than buyers. The first is that bad products (or lemons) will drive down the market and force high-quality products out. This is because buyers will be unable to distinguish between good and bad products and sellers are incentivized to […]
Ranking Based Voting in Santa Fe
http://www.santafenewmexican.com/news/local_news/judge-orders-santa-fe-to-implement-ranked-choice-voting-in/article_db1cc952-d523-11e7-992d-07631cda8c3c.html This article describes the situation for the mayoral election in Santa Fe. Next year, there will be an election for the mayor of Santa Fe. However, there are currently five candidates for the mayor position. The current voting system in Santa Fe, voters choose one candidate out of the list of five candidates. Recently, […]
Mr. Market and Information Cascades
In his famous book, “The Intelligence Investor,” Benjamin Graham conceptualizes a hypothetical investor called Mr. Market. Mr. Market invests in the stock market based on his emotions such as panic, euphoria, and apathy instead of using fundamental or technical analysis. Graham coined the idea that investors often make irrational decisions in regard to their investments, […]
Debunking Ranked-Choice Voting…Sort of
http://www.fairvote.org/rcv One common narrative during and following the 2016 presidential election was that American citizens were stuck with two major-party candidates they disliked, and ultimately had to decide either to vote for the major-party candidate they disliked less, abstain from voting altogether, or vote third party. Of course, many others – particularly partisan stalwarts – […]
On the Edge of Success: Tipping Points
Equilibrium values in network effects can be thought of when individuals’ reservation prices are equal to the market prices. Often three equilibrium values exist. One equilibrium value that always exists is at 0 (or when z=0). Another typical equilibrium value is z’. The third typical equilibrium value is z’’. The three equilibrium values 0, z’, […]
SIR Model with Measles and More
By definition, “An SIR model is an epidemiological model that computes the theoretical number of people infected with a contagious illness in a closed population over time.” A recent paper on the strategy of pulse vaccinations takes into account the SIR Model. When the SIR Model is used in the real world, scientists focus on […]
Failure of Windows Phone and Network Effect
https://www.theverge.com/2017/10/10/16452162/windows-phone-history-glorious-failure https://www.statista.com/statistics/266136/global-market-share-held-by-smartphone-operating-systems/ Recently, Microsoft officially stopped developing and maintaining Windows 10 mobile and removed all Windows Phones from its online store. It meant that Windows Phone was finally defeated in the competition of mobile OS and, Android and iOS won the competition. Starting from WP7 which is the earliest modern mobile OS developed by Microsoft, […]
The Whip System in Parliamentary Democracy in India and Network and Cascades
https://www.nationalheraldindia.com/opinion/invaluable-but-imperfect-pillars-of-our-democracy The essence of a parliamentary democracy which directly elects its local representatives which then elect the Prime Minister is to ensure proper representation of the people of the country in every parliamentary legislation made. This was similar in the case of Indian democracy, until when a whip system was introduced. The article amongst […]
Analyzing the Information Cascade in the #MeToo Social Movement
https://www.mironline.ca/metoo-hashtag-versus-giant/ This article talks about the #MeToo social movement and how it influenced many men and women who have suffered from sexual assault to speak up about their experiences and call out their offenders. Until recently, many people were unaware of the prolific number of sexual assaults and harassments that have taken place (specifically in […]
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