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isds 3100 exam 2 lsu questions well answered already passed
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isds 3100 exam 2 lsu questions wellanswered already passed
network economics - correct answer ✔✔values is typically found in scarcity
value on a diamond depends on its physical attributes and characteristics, value is proportional to the
rarity
value in plentitude - correct answer ✔✔the value of a network is proportional to the number of
connected nodes
very first copy of Instagram is valueless
physical network - correct answer ✔✔the nodes of the network are connected by physical links
(telephone network, railroad network)
virtual network - correct answer ✔✔connections between network nodes are intangible and invisible.
the nodes of a virtual network are typically people rather than devices
(instagram, skype, app store)
network effects - correct answer ✔✔occurs when a new node creates value for all the other members of
the network by making the network larger and thus more valuable
positive feed backs - correct answer ✔✔dynamics that occur in networks go under the name of network
effects, network eternalities, or demand side economies of scale
network effects create - correct answer ✔✔spillover effects that have an impact on other indivudals,
positive for those members of the growing network and negativve for the members of the other ones
, marketplace - correct answer ✔✔two sided networks where demand and offer meet
success depends on solving the chicken or the egg problem, deciding which side to monetize and which
to subsidize
platform - correct answer ✔✔two sided networks with specific members on the two sides, users and
developers
more app developers build for the platform, the more attractive the platform becomes
more users who join = more value
data and information (econ of info) - correct answer ✔✔in order to wring value from data and
information you must understand its economic characterisitics
data - correct answer ✔✔codified raw facts
information - correct answer ✔✔data in context
economic characterisitics of information - correct answer ✔✔info has high production costs
info has negligble replication costs
info is not the carrier
info has negligible distribution costs
costs are sunk
info has no natural capacity limits
info is not consumed by use
info goods are experience goods
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