First Price Auction vs. Second Price Auctions: Which one should be used?
Article: https://roxot.com/blog/second-price-auctions-potential-gaming-system Google Ad Manager, Ebay and more companies adhere to second price auction in their live online auction events. In a second price auction, the winning bid does not pay his or her bid but the second highest bid in the auction. Many companies choose this process because it is deemed as a method […]
Tipping Points in Apple, Android, and Others
Many people have suspected that their iPhones are being slowed down with progressive use, but many were unsure if this was just their imagination, or seeing newer versions of the phone being released. Now this belief has been confirmed. In late November of this year, Apple agreed to pay a settlement of $113 million in […]
Bumble vs Tinder
Tinder vs. Bumble: Can You Afford Falling in Love? One of the first things I learned at college was that it was important to social life to have a dating app, namely Tinder or Bumble. One of the biggest questions I had when starting this class was how I could apply network effects to my […]
COVID, an Modern Example of Cascading Disasters or Something Else?
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7481846/ Network cascades 2020’s COVID-19 pandemic disaster is a devastating example of network cascades in today’s interconnected society. As stated in Daniel Felsenstein et. al.’s paper Cascades – Mapping the multi-disciplinary landscape in a post-pandemic world, the field of disaster risk management has become increasingly involved in addressing the effects of cascading disasters that inevitably […]
Wise or mad crowds? The cognitive mechanisms underlying information cascades
The concept of Information Cascades was one of the most interesting topics that we’ve gone over in class, in my opinion. It’s interesting to see how the opinion of an individual can slowly but surely influence the opinions of those in his or her network. As our world is more and more intertwined with technology, […]
Netflix and Network Effects
https://www.wsj.com/articles/netflix-subscriber-growth-slows-amid-heightened-competition-11603225622# https://www.theverge.com/2020/10/29/21540346/netflix-price-increase-united-states-standard-premium-content-product-features In mid-July 2020, if you were to browse the latest news on the Internet, one of the major headlines you would quickly see is as follows: “Netflix adds a total of approximately twenty-six million new subscribers in the first two quarters.” When COVID-19 first started spreading and state officials began implementing economy lockdowns, […]
Symptoms and Probabilities: Bayes’ Theorem Helps With Hypochondria
Is it just a normal headache, or something far, far, worse, like a ruptured brain aneurysm? Is it just some difficulty breathing, or a sign of secondary drowning? These kinds of questions plague me frequently, drowning me deep within a sea of worry and despair. Yet every time, without fail, my fears never come to […]
Covid tracing apps, and failure of rollout
Networks effects with Covid Contract tracing apps. Contact tracking apps are used to help mitigate the spread of COVID-19. By logging data on who someone is in contact with, they make it easier and quicker to trace who a COVID positive may have come in contact with. Because most COVID apps require both parties of […]
Information Cascades in the spread of Gossip
https://today.uic.edu/study-explores-how-gossip-spreads-in-social-networks Gossip and its spread is something we have all dealt with at some point in our lives. The spread of information about people, typically unconfirmed information, has the potential to lead to many people believing false things about others. In a paper, Brian Flood and Co-author Rinni Bhansali discuss a paper/study from Laura […]
Information Cascades and Herd Behavior in the Stock Market
With it’s dramatic rise in popularity and nature of lowering the barriers and money required to invest in the stock market, Robinhood has revolutionized how people trade. While there are many benefits to providing this opportunity, it also can have negative impacts for some ill-informed traders, who base their decisions on what others are doing. […]
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