Can Information Cascades have positive outcomes?
Link: http://portal.idc.ac.il/en/schools/economics/about/publishingimages/elyashiv-wiedman.pdf In our class’ discussion of networks, we explore how people in a group imitate the behaviors of others in making decisions when they observe behavior sequentially. Given we learned that cascades can be wrong and often have disastrous consequences when a pattern of behavior becomes widespread, there is plenty of motivation to avoid […]
Passing the Tipping Point
The network effect is the phenomenon by which the value a user derives from a good or service increases as the number of users of this product increases. This phenomenon can easily be seen in social networking platforms because we use these applications to connect with our peers. Therefore, the value of the product increases […]
Second Covid lockdown due to information cascade
According to the article, the secondary wave of covid-19 may not be the public’s fault. In the article they state that people more or less followed government guidelines pretty well. However, some people began to ignore the warnings and went to the beach or participated in the BLM protests worldwide. Although against guidelines, citizens deemed […]
New Social Media and Network Effects
A classmate once asked me, “do you think you could invent the next social media?” My first thought was instantly no, and the reason is something which I now understand is called network effects. In a Wired article, Sangeet Choudary explains that network effects add value to sites in three ways: connection, content, and clout. […]
Nudge Theory & Organ Donations – Information Cascades
Ever since learning about information cascades and high and low signals in class, I have been contemplating what other parts of everyday life these theories come into play. This got me down the path of learning about nudge theory and nudge economics. The article “When Push Comes to Shove: Nudge Theory and Organ Donation” details […]
Information Cascade and Fantasy Football
Fantasy sports have become a major part of the sports world today, especially in football, in which individuals are able to create their own roster and set their lineups on a weekly basis while competing against other self made teams. Each week there are many decisions to be made in regards to which wide receiver, […]
Racism in PageRank
Google is one of the most powerful companies in our current digital world. Many people, myself included, use it for many of its resources: from editing documents to storing photographs of our friends and family. Despite its large presence in our daily lives, the company is not completely perfect. In fact, Google has […]
The Continued Legacy of Pagerank
Why we shouldn’t forget about PageRank in 2019 Though the last official public PageRank update occurred in December 2013 and officially removed by Google from its browser, Gary Illyes, a Googler, confirmed in 2017 that PageRank is a ranking signal and is still used by Google behind the scenes. Even though Google doesn’t formally use […]
Women Should Consider Bargaining Power In Networks When Negotiating Salary
https://hbr.org/2014/06/why-women-dont-negotiate-their-job-offers#:~:text=Research%20shows%20that%20women%20are,one%20eighth%20of%20the%20women. https://hbr.org/2018/08/how-women-can-get-what-they-want-in-a-negotiation Studies have shown that 88% of women do not negotiate their starting salary offers and 20% of women never negotiate their salary at all throughout their entire career. This has partially contributed to the gender gap in salary because research shows that a woman who chooses not to negotiate her starting salary upon […]
The Suggested Videos Game
When we were first learning about web search, I found it easier to model the structure of the web when I remembered a game I used to play with the YouTube recommendation algorithm: the suggested videos game. I became obsessed with this game after watching the YouTuber jacksfilms explain and play the game. The premise […]
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