Information Cascade in sports drafts
A sports draft is an excellent illustration of a circumstance in which an information cascade can happen. Teams choose players in order, with other teams watching each selection. The essential conclusion is that organizations learn from teams who choose earlier in the draft. The draft night phenomenon of a player dropping is explained by the […]
COVID-Test
COVID-19 Testing As pandemic swept across the world, people would often need to get tested for COVID-19 as they travel around. In some parts of the world where covid cases are still rising, a few positive cases a day might have already become the norm. However, in other countries, an entire city might face a […]
On Podcasts and Radio, Misleading Covid-19 Talk Goes Unchecked
https://www.nytimes.com/2021/11/12/business/media/coronavirus-misinformation-radio-podcasts.html False statements about vaccines have spread on the “Wild West” of media, even as some hosts die of virus complications. Social media follows us everywhere we go. Your phone, your laptop, and even your car. This article discusses how podcasts through iHeart radio reach nine out of ten Americans, all with hosts […]
Information cascades’ role in the efficiency of organizational structures
Source: https://intersol.ca/news/organizational-culture-and-the-5-monkeys-experiment/ How an experiment with monkeys, bananas, and a ladder explained the role of information cascade within organizational culture? A block of bananas was hanging from the ceiling with a ladder underneath tall enough to reach the bananas. Five monkeys were placed in the room described above. As one of the hungry monkeys tried […]
Using evolutionary game theory to resolve water-sharing strategies.
Increasing water demands across the globe have led to many global disagreements and disputes. Freshwater is a vital resource to humans and the environment, and riparian countries have faced difficulties with sharing this resource for decades. New research, however, has uncovered that cooperative sharing of these resources will yield much greater benefits to the parties […]