The Power Law Distribution in the Art World
We know that when a quantity measured can be viewed as a type of popularity, the power law distribution often dominates the outcome. When popularity is involved, the decisions made by people are not made independently, as people observe and copy each other’s decisions. This concept is clearly at work in the art world. Art […]
Amway’s Marketing Strategy & Diffusion
Amway, an abbreviation of “American way,” has been selling health, beauty, and home-care products around the world for over sixty years now. The company’s success over the years is undoubtedly attributable, at least in part, to its unique marketing strategy, known in the marketing world as “multi-level marketing.” Through means of “direct selling,” wherein the […]
Different Types of Network Effect
In class we discussed network effect, which states that a good or service becomes more valuable when a larger fraction of the population uses it. The value of a good or service can be modeled by the product of the inherent value of the good/service and the network value, which is a monotone increasing function […]
Information Cascades and Social Media Platforms
Across social media platforms, one of the biggest challenges that have arisen over the last decade is combating instances of “fake news.” The spread of fake news across social media tends to be so significant that many experts share that more lies are spread than truths. While platforms can easily discern the popularity of posts […]
Information Cascades in select Netflix shows
At this time of the year as the semester starts to wrap up not only are professors starting to assign more work but Netflix starts to release new seasons of very popular shows. Whenever there is a new season of a show and/or a show that is in the Netflix top 10 for a while […]
Notability, GoodNotes, and Critical Points
Notability and GoodNotes are among the most popular note-taking apps available for iPad users. Both applications have features and a target audience that are not too different from each other, so the applications have been in direct competition with each other for around a decade. Both apps were also similarly priced as a one-time purchase […]
“Network Effects Aren’t Enough”
Online businesses such as EBay have recently become hugely popular in the business world. It is easy to see why — once a company site’s numbers of clients hits a certain threshold, network effects will inevitably take over, and the site’s popularity will grow semi-automatically. This allows for a company very easily to grow their […]
Spotify and Network Effects
This argument for what makes Spotify the best music streaming platform demonstrates the knowledge and use of network effects that the app takes advantage of. In class we discussed the power of network effects when it comes to people using a new behavior, using new technology, or listening to a new song. We learned […]
Not Just an Emoticon: Facebook’s Emoticon Reactions and The Rich-Get-Richer Phenomenon
Sources: https://www.washingtonpost.com/technology/2021/11/13/facebook-news-feed-algorithm-how-to-turn-it-off/ https://www.washingtonpost.com/technology/2021/10/26/facebook-angry-emoji-algorithm/ As one of the largest and most prominent social media networks in the world, Facebook influences millions of people each day, with information being spread quickly through posts, shares, reactions. These articles discuss Facebook’s current algorithm for how posts are ranked on the platform, and Facebook’s justifications for keeping the system, despite […]
The Language of the Internet
With recent advances in communications technology, people around the world are able to exchange information at a faster pace than ever before. Our world becomes more globalized with each passing year, mostly due to the availability of internet access to an increasing number of people. The internet has become an essential part of the everyday […]
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