Evolutionary Games and Social Norms
How can evolutionary game theory relate to the creation of social norms? Evolutionary games are similar to normal two-person games, the one difference is that for an evolutionary game a player is programmed to play one strategy. John Mayard Smith used game theory to explain animal evolution. He created a new iteration of the Hawk […]
Information Cascades: The Spread of Fake News
Reference: https://www.wtkr.com/2017/03/22/this-is-probably-why-you-will-fall-for-a-fake-news-story-on-twitter-tmwsp/ The recent concept of fake news has a peculiar cause, especially on social media sites like Instagram, Facebook, and Twitter. It has only become more of an issue and topic for discussion on how to address fake news, but what are some of the reasons that it occurs in the first place? The […]
Diffusion of Innovation: The Rise to Dominance of the iPhone
https://medium.com/@abigailq/the-rise-of-the-iphone-d6f0f4d720ad If you are reading this, there is a good chance you own an iPhone. There’s even a solid chance you are reading this on an iPhone. It is to no surprise that the iPhone is the most popular phone model in the world, considering the extremely high rate at which they are purchased and […]
The Reversal of Network Effects on Large-Scale Social Media Platforms
From a more traditional perspective, network effects hugely impact social media platforms and their users. In an article on WIRED, Sangeet Paul Choudary describes the network effects phenomenon through the three Cs: connection, content, and clout. Connection describes how users are able to interact with other users, which becomes more possible (and valuable) as a […]
Decide on when to invest in new technologies using tipping point analysis
Consumers and industries are adopting innovations at a much faster pace than years ago. The demand for new technology can raise rapidly, such as the viral of the Tiktok app. In this consulting report, the authors stated that anticipating important innovations ahead of the competition can significantly increase growth and shareholder value. It relates to […]
Comparison of two types of Influencer’s impacts on a cascade
In the pre-internet time, people belonged to each cluster. Each cluster had a high density, each cluster was separated, or was connected to another cluster by weak bond due to restrictions; those included geographical factors (e.g., people were living far from each other, and only people knew people within that community), social factors (e.g., there […]
Network Effects of Ballot Initiatives
Reclaim Idaho is a political organization that collects signatures for ballot initiatives. In 2018, Reclaim was able to successfully get a measure on the ballot to expand Medicaid coverage in the state, which passed and has since been implemented, increasing healthcare coverage for over 10k Idahoans. In 2020, they attempted to get a measure on […]
The Effectiveness of Financial Derivatives as Prediction Markets.
I was intrigued by the discussions in class on how odds in markets such as horse race betting may have predictive value. This is because the odds are a form of wisdom of the masses, as it is determined by the weighted average of beliefs of those who participate in the market. Furthermore, the reminder […]
Diffusion in Formula One Viewership
https://www.nbcnews.com/tech/tech-news/netflix-f1-espn-boost-tv-ratings-espn-rcna1237 This article, written in June of 2021, talks about the recent updates and changes in the audience of Formula One Racing. Specifically the addition of the North American market, all because “I saw it on Netflix”. Netflix premiered “Drive to Survive”, a documentary series about the racing championship, in 2019 and is now in […]
The Role of Network Effects on the Rideshare Experience
The influence of network effects, or any situation where the value of a given service, product, or platform is dependent on the number of users, buyers, or sellers who leverage it, can be observed in countless aspects of our lives. From e-commerce marketplaces like eBay and Etsy that offer vastly more valuable experiences to customers […]
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