blog-post2: the power of yelp on small businesses (popularity and network effects)
https://www.climatepro.com/blog/small-business-insights-the-undeniable-power-yelp This article describes the power of yelp on small and upcoming businesses. Oftentimes as a new company, customer reviews can either make or break a company. The article begins with the logistics and background information of yelp. Including when it was created and by who; in 2004 by Jeremy Stoppelman and Russel Simmons. […]
Link: https://www.bbtv.com/blog/grwm-content-a-goldmine-for-brands-and-marketers/ If you’re an avid TikTok user you’ve probably seen your favorite creators or brands post ‘get ready with me’ videos, or what is otherwise known as a GRWM. The hashtag currently has over 27 billion views on the app and is essentially a video in which creators take their audience through the process […]
Trust and spread of gossip in soccial networks
Study explores how gossip spreads in social networks This article at UIC Today, the University of Illinois Chicago news network, discusses a new study of the spread of gossip by Laura Schaposnik. His model introduces the idea that gossip spreads slower when people require to hear it from different types of people before they trust […]
Information Cascades from Various Sources in College Course Selection
INTRODUCTION: During course enrollment, students need to use prior knowledge from various sources to decide what courses they will take at college. Many students consult academic advisors, ask friends for course recommendations, or look up recommended courses at their university on the internet. These different sources can have varying degrees of accuracy and relevance and […]
Technology Adoption and Innovation: Breaking the Status Quo
Link to the article: https://hbr.org/2004/03/the-new-rules-for-bringing-innovations-to-market One day I was chatting with an employee in a tech company, he told me that he has seen so many exciting innovations of technology not being able to launch into the market and so many great ideas being thrown away due to the very “reality” — whether it is […]
Information Cascades in the context of Financial Markets
Information cascades — the occurrence when a person makes a decision solely based on the actions of others, ignoring their own signal and personal knowledge — are prevalent in society in many contexts: politics, general every day decision making, shopping, restaurant recommendations and other areas. One area in which it is very relevant, and common, […]
Information Cascades and Hate
Cascading Hate The common majority of Americans have heard the saying “if they jumped off a cliff would you?” And while this saying is important to take action and analyze one’s situation when noted, the reality is many of us are influenced by the actions of others and may even be led to decisions […]
Information Cascade and Clubhouse
“Clubhouse appeared out of nowhere in early 2021. They went from being an unknown brand to the hottest topic in the marketing business world. Then, they quickly disappeared.” Clubhouse created a community of tons of voice-chat rooms on various topics with no video, text, or recording, and a capacity of 5,000 users. You may join […]
Bayes Theorem and Avalanches When Skiing
In a recent lecture for Networks, we learned about Bayes Theorem and how it can be applied to many real-life scenarios. As it is starting to get colder, ski season is fast approaching. With skiing there are many risks, however, one major risk all back-country skiers face is the danger of avalanches. Avalanches are when […]
Tipping Points In Ecological Networks
https://royalsocietypublishing.org/doi/10.1098/rsif.2019.0345 In simple economic models, the tipping point can be described as the point at which a lower expectation of success for a good will result in the good failing. If there is a higher expectation of success than the tipping point, the good will succeed. In more complex, nonlinear networks, such as in […]
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