1.Considering the Prisoner’s Dilemma in this chapter, provide your own insight on how sites such as eBay “work” for most participants of this popular online auction site. Do they really work? Or is there too much risk?
I personally have never used eBay to buy anything because I think that there is too much risk. I know for others though, especially a lot of my friends tend to use it to buy so many different things. I do think that it works, but I always have in the back of my mind that when I pay for something is it really going to come to my address and receive what I paid for? There is always the risk too of giving out your personal information and expecting it to stay private. I feel like we have talked about this throughout the semester and it is pretty clear that once something is on the internet there is always that possibility of the security being broken and your information getting into the hands wrong person. I also think it depends on experience on whether someone thinks there is too much risk or if it is okay for them to give out their personal information.
2. What professional benefits do you see by investing some time in a FOAF-style network?
I think there are more benefits to FOAF-style networking that comes to mind. To put your name out there in more than one way and be able to network yourself is a great tool to have and be able to use. By doing so you can benefit your career greatly, it’s like the saying “sometimes it’s not about what you know but who you know.” I think this holds true always. That is how I got my internship this summer and through my mom knowing the boss. I also formed more connections and ways to market and network my skills to others. This style of network can not only benefit you, but your friend and the company or profession as well. If your friend already has a job and is well established and happens to put your name out there as a worthy candidate and the company already knows your friends capability, you have a very good chance of getting that position. Especially in today’s society, where the economy is struggling, there are so many qualified people who are in running for a position but FOAF-style network could be what sets you apart from the rest.
Wednesday, November 17, 2010
Thursday, November 11, 2010
Finding Revolution Online
Based on the quote from this chapter, ““revolution doesn’t happen when society adopts new technologies--it happens when society adopts new behaviors,” do you agree or disagree? Cite examples to support your position.
I tend to side both ways but for the most part I actually tend to disagree more than I agree. My opinion being the opposite, in that society changes when new technologies emerge and only then are the behaviors of society changed. I think a good example is Facebook and how social media has changed so drastically. There has been a movie to show the shift in social interaction (The Social Network) and it is evident in so many aspects of everyday life. Business’ are now making their own Facebook page to further network and update their latest news and events. Even smaller organizations, such as ones within the JMU community have their own pages which allow for the behavior of students to change and become more dependent on finding their information from Facebook as a main source. Other sources of information such as email, telephones and even text messaging are still very much active but social networking is a new technology that has seemed to take over and change the behaviors and way of communication between people.
Look deeper into the concept of a “information cascade.” Can you cite an example of where following the actions of others was a sound idea? Where doing so ended up being a poor choice?
An example where an informational cascade would be a sound idea would be in school. Students who work hard and make good grades and go above and beyond to further their education and others can see that as a motivation. Another example would be the laws. The same action taken by citizens and what the rules that are obeyed by is a good concept in which information cascade is a sound idea. One obvious example that I know everyone has heard off is jumping off a cliff, if someone did that would you do it too? Another poor choice when considering the concept of information cascade is drugs. A lot of people tend to give into peer pressure, but staying above the influence and not following what others do is the best way to go in this case.
I tend to side both ways but for the most part I actually tend to disagree more than I agree. My opinion being the opposite, in that society changes when new technologies emerge and only then are the behaviors of society changed. I think a good example is Facebook and how social media has changed so drastically. There has been a movie to show the shift in social interaction (The Social Network) and it is evident in so many aspects of everyday life. Business’ are now making their own Facebook page to further network and update their latest news and events. Even smaller organizations, such as ones within the JMU community have their own pages which allow for the behavior of students to change and become more dependent on finding their information from Facebook as a main source. Other sources of information such as email, telephones and even text messaging are still very much active but social networking is a new technology that has seemed to take over and change the behaviors and way of communication between people.
Look deeper into the concept of a “information cascade.” Can you cite an example of where following the actions of others was a sound idea? Where doing so ended up being a poor choice?
An example where an informational cascade would be a sound idea would be in school. Students who work hard and make good grades and go above and beyond to further their education and others can see that as a motivation. Another example would be the laws. The same action taken by citizens and what the rules that are obeyed by is a good concept in which information cascade is a sound idea. One obvious example that I know everyone has heard off is jumping off a cliff, if someone did that would you do it too? Another poor choice when considering the concept of information cascade is drugs. A lot of people tend to give into peer pressure, but staying above the influence and not following what others do is the best way to go in this case.
Saturday, November 6, 2010
FREE
1. Why is “zero” such a hot-button word?
Free, which goes hand in hand with the word zero is…“Decline in quality and cost of money but it something next cost money we wouldn’t feel the same way.” Like the example in the listening, a free bagel is often stale but ketchup is always free and zero dollars and it is okay. Zero is such a hot-button word because it essentially refers to something being “free” or costing nothing in value. Zero means nothing and there for when used in context it can become a hot-button word when pricing comes into the picture.
2. Explain and give an example of a mental transaction cost.
The act of subscribing to a magazine is an example of a mental transaction cost. For the subscriber to pay even one cent, it is showing the advertiser that they are interested in the subscription and therefore will pay in order to read it. When a magazine is free, it is regarded as junk and not as valuable because the customer is not paying for it. The magazine is just there and available and not something that the customer would necessarily be interested in. Prescribers make their profit from advertising and tend to make up the difference and find out what makes something profitable. There is also as the audio states “controlled circulation” in which prescribers give out magazines for free. There for people often wonder why there are more readers who actually want to read the magazines that are free vs. the ones that aren’t. As stated in the audio, it’s all mind tricks of what you are and aren’t paying and what it means.
Free, which goes hand in hand with the word zero is…“Decline in quality and cost of money but it something next cost money we wouldn’t feel the same way.” Like the example in the listening, a free bagel is often stale but ketchup is always free and zero dollars and it is okay. Zero is such a hot-button word because it essentially refers to something being “free” or costing nothing in value. Zero means nothing and there for when used in context it can become a hot-button word when pricing comes into the picture.
2. Explain and give an example of a mental transaction cost.
The act of subscribing to a magazine is an example of a mental transaction cost. For the subscriber to pay even one cent, it is showing the advertiser that they are interested in the subscription and therefore will pay in order to read it. When a magazine is free, it is regarded as junk and not as valuable because the customer is not paying for it. The magazine is just there and available and not something that the customer would necessarily be interested in. Prescribers make their profit from advertising and tend to make up the difference and find out what makes something profitable. There is also as the audio states “controlled circulation” in which prescribers give out magazines for free. There for people often wonder why there are more readers who actually want to read the magazines that are free vs. the ones that aren’t. As stated in the audio, it’s all mind tricks of what you are and aren’t paying and what it means.
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