Marbles, fake news, and how to stop it
By Victor Odouard We talked in class about the marble experiment. To summarize it again, we have a bag that either contains majority red (2/3) or majority blue (2/3) marbles. Students stand in line, draw a marble, and announce a guess for whether they think the bag is majority red or majority blue. They […]
Bayes Theorem and Poker
Article Link Bayes Theorem is used in almost every scenario that involves the probabilities of an action dependent of that of another. The same case can be made for utilizing Bayes Theorem in poker, particularly the aspect of deciding whether or not to fold or call. The article opens the case for using Bayes theorem […]
Finding People Lost at Sea With Bayes Theorem
https://www.bayestheorem.net/real-life-uses-search-and-rescue/ https://stats.stackexchange.com/questions/119952/how-to-apply-bayes-theorem-to-the-search-for-a-fisherman-lost-at-sea In this article, we find a story of how a man was found lost at sea with the help of Bayesian principles. Essentially, on July 24th, 2014 a fisherman for almost two decades, John Aldridge, was working on his boat for his successful crab and lobster operation when he accidentally fell into the […]
Laboratory versus Economic: Information Cascades
https://onlinelibrary.wiley.com/doi/full/10.1111/j.1540-6261.2007.01204.x The theme of networks seems to be connecting seemingly abstract concepts of supposedly idealized scenarios yet still finding a practical way to apply them to real-world problems. While more general concepts like Bayes’ Theorem are more easily applied, other ideas like hubs and authorities seem intuitive at first yet doubtful to work smoothly when […]
Applications of information diffusion
https://www.sciencedirect.com/science/article/pii/S0370157316301600 Diffusion in networks is more than a theoretical subject. Modeling the information (fads, innovations, collective actions, viral memes, opinions and rumors) diffusion process is of outstanding interest for analyzing the information spreading patterns on social networks, stopping the transmission of viruses, as well as controlling the spread of rumors, etc. Models for static and […]
Network Effects? Not anymore.
This article talks about how contrary to popular belief, “network effects” may not be as significant as portrayed. Firstly, “network effects” is defined by economists to describe where a service/good offers better, increasing benefits the more users it has. The article uses Slack as an example, which is a familiar app within us students. The […]
Show Me the Money and the Diffusion of Hip Hop in Korea
Hip hop used to (and still does, to a lesser extent however) get a bad rap in Korea. Those who listened to or performed within the genre were associated with other things that are not seen in a favorable light, such as having tattoos or not having a high degree of education. Thus, although most […]
Broken Fire Alarm with Bayes’ Rule
Website Link: http://allendowney.blogspot.com/2015/08/bayes-theorem-in-real-life.html We studied about Bayes’ Rule in class as the way to understand information cascade. This article talks about a situation in which Bayes’ Rule may not be as applicable in real life as we thought. The writer of the article talks about how the Carbon Monoxide alarm in his house went off. […]
In Superstar Cities, the Rich Get Richer, and They Get Amazon
Link：https://www.nytimes.com/2018/11/07/upshot/in-superstar-cities-the-rich-get-richer-and-they-get-amazon.html “New York and Washington are leaving the rest of the country behind. Companies like Amazon explain why.” Recently, we have discussed the notion of “the rich get richer” and given the example on how individuals make decision by coping other people’s decisions. For example, when buying a book, people will more likely to buy […]
Facebook and the growth of social media.
Social networking is going deep into the lives of people. It can be said that this is the latest model in the process of contemporary development, simplifying the modes of interaction and connection between people throughout the length of history. According to the researchers, although recently launched when the full convergence of basic platform conditions, […]
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