Bayes’ Rule in Real World Scenarios
Bayes’ Rule in the context of information cascades, like we learned in class, is natural and logical at its core — however, we learned this concept with respect to very specific scenarios. This article discussing Bayes’ Rule introduces its core idea: we, as humans, tend to update our thoughts/beliefs on certain ideas/actions/concepts as we learn […]
Network Effects in the Rideshare Industry
“The Intentional Network Effects of Uber” (https://www.nfx.com/post/the-network-effects-map-nfx-case-study-uber/) outlines a case study about Uber and describes lessons that startups can learn by looking at the strengths and insecurities of Uber’s network effect along with the company’s defense strategies. The post starts by explaining how the strength of Uber’s large network is deceptive and not as strong […]
Using Prediction Markets to Forecast the Future
https://www.vox.com/future-perfect/2019/4/5/18290870/forecasting-tetlock-prediction-markets-betting Today in class, we were introduced to prediction-markets. According to this Vox article, people can bet on almost anything with prediction markets such as if “migration from Central America will increase” or if “this new cancer study will fail to replicate” (Piper). If the event one wants to bet on does not exist […]
The Power (law) of Taylor Swift’s Red Re-release
On November 12, Taylor Swift released Red (Taylor’s Version), a re-recording of her album Red from 2012. This is the second re-recording that she has released after she lost the rights to the master audio of her music. The anticipation of the album was so immense that it shattered several streaming records in just one day, largely due to […]
TikTok Trends and Information Cascades
Let’s admit it– we’ve all seen our fair share of truly bizarre TikTok trends. I know there have definitely been moments where I am scrolling through my For You Page and have thought to myself, “Why are these people doing that?” and “Why is this even a trend?” After learning about information cascades, I realized that […]
The Human Predisposition to Hawk in the Theatre of War
Original Article: https://foreignpolicy.com/2009/10/13/why-hawks-win/ The Hawk-Dove Game as we know it is quite simple. Each player is either a hawk or a dove. To be in pure strategy Nash Equilibrium, one must be a hawk while the other is a dove for payoffs of 1 and 5, respectively. In international relations, the game is not so […]
Beginner’s Guide to Search Engine Optimization
Original Article: https://www.practicalecommerce.com/10-do-it-yourself-seo-tips-to-save-money There are numerous ways in which one can make money off their websites: sell advertisements, create online purchase options, share sponsored content, attract subscriptions, etc. Despite the plethora of different ways of generating income through websites, there is one common crucial criterion that applies to all options: one needs people to […]
The Impact (Effect) of Networks in Genshin Impact
On September 28, 2020, chinese game developer miHoYo released their forefront MMO that took the world by storm – Genshin Impact. In its first six months, the game “made more than $1 billion from mobile phone users alone” (BBC) and “now makes more than $6 million per day,” also excluding PC and console users (IndieWire). […]
Case Study in Negative Network Effects
Network effects are known in economics as a phenomenon whereby a product or service gains additional value as more people use it. Social media networks are a classic example because they become more valuable to a user as more of their connections join them. As discussed in class however, these effects are not always positive. […]
Network Effect and Social Media / The Social Dilemma
The entire concept of Social Media and users posting on different apps grasps the idea of Network Effects very directly. Within the past few years and especially during quarantine, the use of Social Media apps such as Instagram, Tik Tok, and Snapchat have skyrocketed due to the amount of time people spend on their phones. […]
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