I have these question need them to be done by 12 hrs. 4. In the model of network effects that we covered in Chapter 17 there was only one product. Now let’s ask what might happen if there are two competing products which both have network effects. Assume that for each product: (a) If no one is expected to use the product, then no one places a positive value on the product. (b) If one-half of the consumers are expected to use the product, then exactly one-half of the consumers would buy the product. (c) If all of the consumers are expected to use the product, then all consumers would buy the product. Using an analysis of network effects, describe the possible equilibrium configurations of numbers of consumers using each product and briefly discuss which of these equilibria you would expect to be stable and which you would expect to be unstable. You do not need to build a formal model to answer this question. Just describe in words what might happen in this market. this the chapter link 2 .When we covered power laws in Chapter 18, we discussed a number of cases in which power laws arise, generally reflecting some notion of “popularity” or a close analogue. Consider, for example, the fraction of news articles each day that are read by k people: if f(k) represents this fraction as a function of k, then f(k) approximately follows a power-law distribution of the form f(k) ≈ k−c for some exponent c. Let’s think about this example in more detail, and in particular consider the following questions. What mechanisms for providing news to the public will tend to accentuate this power-law effect, causing the most widely-read articles to be even more widelyread? What mechanisms will tend to diminish the power-law effect, more evenly balancing readership across more and less widely-read articles? Give an explanation for your answer. This is an open-ended question, in the sense that the range of possible correct answers is quite broad; also, it is fine for your answer to be informally stated, provided the explanation is clear. 3. Suppose that some researchers studying educational institutions decide to collect data to address the following two questions. (a) As a function of k, what fraction of Cornell classes have k students enrolled? (b) As a function of k, what fraction of 3rd-grade elementary school classrooms in New York State have k pupils? Which one of these would you expect to more closely follow a power-law distribution as a function of k? Give a brief explanation for your answer, using some of the ideas about power-law distributions developed in Chapter 18. this is the chapter link.
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The post In the model of network effects that we covered in Chapter 17 there was only one product. Now let’s ask what might happen if there are two competing products which both have network effects. Assume that for each product: (a) If no one is expected to use the product, then no one places a positive value on the product. (b) If one-half of the consumers are expected to use the product, then exactly one-half of the consumers would buy the product. appeared first on Homework Aider.
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