Price Bargaining in Daily Deals Market
Before reading Zhang and Chuang’s paper on the daily deal market, my intuition was that competition between platforms gives customers a better deal as they engage in competition for lower price points. And when the customers’ gain increases, merchants would have lower margins as a result. However, it seems like platform competition benefits the merchants […]
Advertisement Markets
The article touches on the topic of advertisements and how the market holds a massive number of customers and bidders in which customers are sold in milliseconds. In simple terms, it is described that every person on the internet who clicks on websites, is tracked and sold to the highest bidder. The winner of the […]
Medical Residency Matching Process
In class we have extensively talked about matching markets, and how the use of certain valuations can help to create a match that is socially optimal. There are many examples of matching markets in the real world, including Uber and Lyft for matching travelers to drivers and Airbnb for matching homeowners to renters and vacationers. […]
Fairness in Generalized Second Price-auctions
Watts, A. Fairness and Efficiency in Online Advertising Mechanisms. Games 2021, 12, 36. https://doi.org/10.3390/g12020036 While we have explored the application of the generalized second price-auction in bidding for ad spots online, we haven’t asked how equitable this means of ad distribution is to consumers and advertisers. Watt’s article explores this subject as she proposes that […]
Demystifying the Auction System
The article “How Auctions Help Solve Some of the World’s Most Complicated Problems” takes a deep dive into Paul Milgrom and Robert Wilson’s study of auctions. The article was published on KelloggInsight, a platform that showcases the latest research by the Kellogg School of Management faculty. It talks about and goes beyond what we learned […]
Variations on Cascading Experiments and their Applications
Although information cascades can be made simple using an experiment of drawing marbles and guesses made by children, in reality it can be applied to much more elaborate experiments and connections to the real world. Information cascades occur when sequential decisions are made based on incomplete knowledge and public decisions of others, resulting in a […]
TikTok and Information Cascades
TikTok differentiates itself from other engagement algorithms as it doesn’t rely simply on active behavior and user networks in order to curate content. Rather, it follows a more decentralized recommendation network. In order to explain TikTok’s addictively entertaining algorithm and the novel nature of its structuring of social media, I will explore it in the […]
Trading Networks and Lost Hegemony?
Trading networks are everywhere in life, as people exchange not only objects but information and emotions as well, all of which are manifolds of the power dynamic. One of the biggest trading networks in the world happen between bodies of nations, and for each important period of history, there is the presence of the hegemony […]
Information Cascades on Twitter
Information cascades occur in situations where individuals observe the actions of those around them and follow the behavior of preceding individuals. The actions of individuals within social media outlets, such as Twitter, make for a perfect example of this phenomenon. An information cascade in these areas can be defined as a situation where one individual […]
The Impact of Information Cascades on Financial Markets
It is easy to go with the crowd. The herd. Perhaps, it is natural to human nature to think we are stronger together, more knowledgable together, than apart, than alone. That there is always someone smarter, more experienced, and that their opinion is probably the most reliable. In our modern day and digitalized age, information […]
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