Monty Hall Problem and Bayes’ Rule
https://www.scientificamerican.com/article/the-3-door-monty-hall-problem/ In this article, the author explains what the Monty Hall is and the most common question people ask about it. The question was raised in American television game show and named after its original host, Monty Hall. Suppose you’re on a game show, and you’re given the choice of three doors: Behind one door […]
The Importance of Prior Experience in Sports
https://www.nytimes.com/2004/01/20/health/subconsciously-athletes-may-play-like-statisticians.html This article discusses Bayesian statistics in the application of sports and others, and argues that the human brain subconsciously uses statistical approaches when it comes to making decisions involving uncertainty. Bayesian statistics require information on prior knowledge, and athletes use prior experience subconsciously when they make decisions such as what direction to hit the […]
Diffusion in the Age of Social Media
Title: Innovation: Adoption and Diffusion in the Age of Social Media Source: https://www.hausmanmarketingletter.com/innovation-adoption-diffusion-age-social-media/ This article discusses the need for a company to take action in the diffusion of a new product or technology. The author says that adoption is the precursor and driver of diffusion. Now in the age of social media, it is far […]
The “Wisdom of Crowds” and predicting box office revenues
Predicting Box Office with and without Markets: Do Internet Users Know Anything? (https://www.sciencedirect.com/science/article/pii/S0167624513000206?via%3Dihub) In class, we discussed the wisdom of crowds and how state prices are essentially weighted averages of the aggregate betting community’s beliefs. HSX, or the Hollywood Stock Exchange, is a marketplace of enthusiasts who buy and sell shares of movies in accordance […]
Diffusion of Innovation and Marketing New Products to Consumers
In The Street article titled “What is Diffusion of Innovation and Why is it Important in 2019”, author Brian O’Connell discusses the diffusion of innovation theory in a marketing context. O’Connell endeavors to advise businesses that are looking to introduce new products to the market by focusing on the “waves of consumer acceptance” which are […]
Social Media’s Upset: Unexpected Creativity
Author Clive Thompson explains that when social media was first invented, many people were very skeptic about its true value. Many people thought that giving such a vast network of easily accessible information to average people would simply amplify their interest in “trivia and gossip”. Thompson admits that, at the time, he believed that the […]
CEO of McDonald’s causes cascading effect
McDonald’s Chief People Officer Resigns After CEO Fired for Violating Company Policy In recent news, the CEO of McDonald’s was forced to resign after a series of events. This has caused a cascading effect because employees tend to follow after what their CEO does. Once they observe that the CEO is no longer a part […]
Amazon’s Imbalance
https://www.forbes.com/sites/brockblake/2019/09/23/amazon-friend-or-foe/#3776e84f7367 Networks and the connections between nodes in a growing internet marketplace are vital in growing small business. When the Amazon juggernaut stops all connections from your small business, the relative power of your company dwindles. This article touches upon Amazon’s responsibility in degrading small businesses that cannot compete against Amazon’s amassed connections. Amazon is […]
Bayes’ Rule
Link: fs.blog/annie-duke/ This resource is an online discussion between the author and Annie Duke. Annie Duke is a professional poker player. The two are discussing how to make reliable decisions in uncertain and intense situations. As a world-class poker player, author, and academician in the fields of cognitive theory and psychology, Annie has a unique […]
School Integration and the Diffusion Effect
https://www.washingtonpost.com/education/2019/11/15/what-happened-when-brooklyn-tried-integrate-its-middle-schools/?arc404=true Brooklyn is home to people from all over the world, an incredible mix of ethnicities, races and nationalities. Across New York City, schools have largely remained segregated or quasi-segregated, despite school segregation being illegal by law since the 1960s. Bill de Blasio, the mayor, has been working on a plan to integrate the schools […]
« go back — keep looking »