I guess one of the morden ways to advertising is to use social network. My friend says that every company is an “advertising company”. They let you registered, study you and promote goods to you. I understand the need of survival of the company, but sometimes, there are great differences on how to leverage the social element. I think it’s a matter of fact about the spirit: company’s motto, and the mechanism: the functionality of their product (either their original goal or something later on developed/discovered by the user on the fly). When company’s interest meets the interest of their consumer, it’s win-win results. When not, it’s sometime like butterfly emerge from cocoon. Something certainly lost, it’s only the matter of fact that whether the butterfly turns out to be beautiful. Nothing is absolutely good or bad. Personally, I don’t like the side-bar displaying advertisement all the time, or if I found out it’s part of the commercial ads when I simply want to enjoy a beautiful picture. Like me, many consumers may prefer service rather than finding everything connected to commercial product. It’s very subtul to recognize the tolerance of customer on adverting. Here’s some links to see how people are trying to promote their business by using public social network.
Some thing may only happen when you have a large amount of data. I came across this LinkedIn discussion and found one of the linked post are very interesting as it mention the advantages brought by large data set for ‘scene completion’ in computer vision. One of the conclusion is ” for nearest neighbor type minimization problems with a non-negative distance function (meaning that the cost function has a lower bound of zero), that distance function will, on average, decrease monotonically with data or sample size.”
It’s also interesting that as we modify/improve approaches, models and making them complicated, it may not always perform well as compare to simple models based on the “law of large numbers.”.
Relationship between starting price and auction outcome
Ariely and Simonsohn (2003), Haubl and Popkowski Leszczyc(2003) – find positive effect
Kamins, Dreze and Folkes (2004), Ku, Galinsky, Murnighan(2005), simonsohn and Ariely(2008) — find negative effect
Lucking-Reley, Prasad, and Reeves (2007) — find no effect
Nonrational herding (Simonsohn and Ariely 2008) – bidders favor auctions with more bids despite these extra bids arising from low starting price and not higher unobserved quality
Irrational Limited attention(Malmendier and Lee 2011) – Bidders ignore conspicuous fixed-price options
Einav, Kuchler, Levin, and Sundaresan (2012) – Starting-price test assumes competing identical auctions/items except for different starting prices. In practice, this starting-price variation is hard to find.
Riley and Samuelson(1981), Virag(2010), Adams (2010) -Potential problem if sellers set starting price as function of demand
Another approach in empirical field literature:Compare auction ending price to contemporaneous fixed prices
Malmendier and Lee(2011) – compare eBay auction prices to contemporaneous eBay BIN prices
Jones(2011) – compares eBay auction prices for amazon.com gift cards to face value of gift cards.
It’s quite interesting when I saw the page of the animal camouflage. I always assume that animal color/pattern are only for preventing themselves being seen by the predators. But I was wrong.
Dazzle Pattern is repeating pattern with high contrast. It is not so useful for hiding but quite useful to confuse the predator when it’s moving (see the figure for Zebra). And I surprisingly found that people have been using this on ship since early 19th. 🙂 This site gives more history information.
Zebra USS West Mahomet in dazzle camouflage, 1918