2. What professional benefits do you see by investing some time in a FOAF-style network?
With using a FOAF- style network, you can find people that know people by advetising to a certain group of people depending on peoples relationships and interest. This is good for company to advertise to a target audience and get feedback on products such as they do on facebook. They have the ads on the side of the page that are targeted to you. This is a great way for professionals to get something out of FOAF.
Tuesday, November 16, 2010
Prisoner’s Dilemma
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?
eBay is a site where you can buy from people or sell to people. It is sometimes risky, someone can send you a shady item that you did not order or you can recieve a payment and not send the product to the consumer. Those are worst case scenarios. This is not the case as it was in the past. Before this happened often, but now eBay has covered itself and has helped everyone make buying and selling a lot less risky. Now they have the eBay buyer prtection to make sure you can contact the seller and make your purchase legit and not get scammed into buying the wrong thing and most of all getting your money stolen. There is also the Top- rated sellers, so you can buy from the most reliable that have excellent service. You control what you buy and sell by giving the feedback. As long as you tell the truth about the buyer or seller we can keep the frauds out of eBay.
eBay is a site where you can buy from people or sell to people. It is sometimes risky, someone can send you a shady item that you did not order or you can recieve a payment and not send the product to the consumer. Those are worst case scenarios. This is not the case as it was in the past. Before this happened often, but now eBay has covered itself and has helped everyone make buying and selling a lot less risky. Now they have the eBay buyer prtection to make sure you can contact the seller and make your purchase legit and not get scammed into buying the wrong thing and most of all getting your money stolen. There is also the Top- rated sellers, so you can buy from the most reliable that have excellent service. You control what you buy and sell by giving the feedback. As long as you tell the truth about the buyer or seller we can keep the frauds out of eBay.
Saturday, November 13, 2010
Information Cascade
2. 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?
In sports, information cascade is the basis of a great team. If you have a leader on a team or multiple if lucky you want to look at what that person does and emulate the things that person does. This is a domino effect where if one follows what that model person is doing then everyone will follow.
Now a poor choice would be falling under peer pressure. Something that all teens do, whether it is drinking or being a delinquent because you are hanging with the wrong crowd of people.
Revolution of Technologies
1. 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 definitely agree with this quote, although the coolest gadgets are great to have and may be able to turn off your lights when your 1000s of miles away, but simple things have moved us forward. For example, the revolution of the World Wide Web, everyone uses it today for everything from shopping and selling things to looking up how to make cupcakes. Wasn’t always like this but as time went on more people started using it and getting comfortable with it. The WWW is a part of our daily lives tremendously.
I definitely agree with this quote, although the coolest gadgets are great to have and may be able to turn off your lights when your 1000s of miles away, but simple things have moved us forward. For example, the revolution of the World Wide Web, everyone uses it today for everything from shopping and selling things to looking up how to make cupcakes. Wasn’t always like this but as time went on more people started using it and getting comfortable with it. The WWW is a part of our daily lives tremendously.
Friday, November 5, 2010
Mental Transaction Cost
Explain and give an example of a mental transaction cost.
Mental transaction cost is where a consumer thinks about whether to make a purchase or not. For example, people use EBAY and love to buy and buy. We use EBAY because we want things for cheap and the cheaper the better. The less something cost the easier it is to buy and there is little doubt about purchasing that item. Now with EBAYs new protection it has taken some thought processing out of deciding to buy a product because of not receiving your item, liking your item, or satisfaction with your product. Or like others mentioned in their blogs, shipping cost. I know I will find a cheap product and look at the shipping and it is outrageously high. That puts up a flag and doubt about the purchase so I will look for the same product for cheap with zero to little shipping cost.
Mental transaction cost is where a consumer thinks about whether to make a purchase or not. For example, people use EBAY and love to buy and buy. We use EBAY because we want things for cheap and the cheaper the better. The less something cost the easier it is to buy and there is little doubt about purchasing that item. Now with EBAYs new protection it has taken some thought processing out of deciding to buy a product because of not receiving your item, liking your item, or satisfaction with your product. Or like others mentioned in their blogs, shipping cost. I know I will find a cheap product and look at the shipping and it is outrageously high. That puts up a flag and doubt about the purchase so I will look for the same product for cheap with zero to little shipping cost.
Zero
Zero is hot because FREE is great. No one wants to pay for anything, and when there is a service or product you can get for free whether the service or product is a copy or similar in some way. People will pass on paying for something that has a few more details for a free service any day, but that goes off of preference of a product. For example, people will pay for Photoshop but free alternatives like Splashup, Picnik and Snipshop are just as good. They are not exactly the same as Photoshop with some of the features but serve the same exact purpose for free.
Subscribe to:
Comments (Atom)