Phil 6.1.18

7:00 – 6:00 ASRC MKT

  • Bot stampede reaction to “evolution” in a thread about UNIX. This is in this case posting scentiment against the wrong thing. There are layers here though. It can also be advertising. Sort of the dark side of diversity injection.
  • Seems like an explore/exploit morning
  • Autism on “The Leap”: Neurotypical and Neurodivergent (Neurodiversity)
  • From a BBC Business Daily show on Elon Musk
    • Thomas Astebro (Decision Science): The return to independent invention: evidence of unrealistic optimism, risk seeking or skewness loving? 
      • Examining a sample of 1,091 inventions I investigate the magnitude and distribution of the pre‐tax internal rate of return (IRR) to inventive activity. The average IRR on a portfolio investment in these inventions is 11.4%. This is higher than the risk‐free rate but lower than the long‐run return on high‐risk securities and the long‐run return on early‐stage venture capital funds. The portfolio IRR is significantly higher, for some ex anteidentifiable classes of inventions. The distribution of return is skew: only between 7‐9% reach the market. Of the 75 inventions that did, six realised returns above 1400%, 60% obtained negative returns and the median was negative.
  • Myth of first mover advantage
    • Conventional wisdom would have us believe that it is always beneficial to be first – first in, first to market, first in class. The popular business literature is full of support for being first and legions of would-be business leaders, steeped in the Jack Welch school of business strategy, will argue this to be the case. The advantages accorded to those who are first to market defines the concept of First Mover Advantage (FMA). We outline why this is not the case, and in fact, that there are conditions of applicability in order for FMA to hold (and these conditions often do not hold). We also show that while there can be advantages to being first, from an economic perspective, the costs generally exceed the benefits, and the full economics of FMA are usually a losing proposition. Finally, we show that increasingly, we live in a world where FMA is eclipsed by innovation and format change, rendering the FMA concept obsolete (i.e. strategic obsolescence).
  • More Bit by Bit
  • Investigating the Effects of Google’s Search Engine Result Page in Evaluating the Credibility of Online News Sources
    • Recent research has suggested that young users are not particularly skilled in assessing the credibility of online content. A follow up study comparing students to fact checkers noticed that students spend too much time on the page itself, while fact checkers performed “lateral reading”, searching other sources. We have taken this line of research one step further and designed a study in which participants were instructed to do lateral reading for credibility assessment by inspecting Google’s search engine result page (SERP) of unfamiliar news sources. In this paper, we summarize findings from interviews with 30 participants. A component of the SERP noticed regularly by the participants is the so-called Knowledge Panel, which provides contextual information about the news source being searched. While this is expected, there are other parts of the SERP that participants use to assess the credibility of the source, for example, the freshness of top stories, the panel of recent tweets, or a verified Twitter account. Given the importance attached to the presence of the Knowledge Panel, we discuss how variability in its content affected participants’ opinions. Additionally, we perform data collection of the SERP page for a large number of online news sources and compare them. Our results indicate that there are widespread inconsistencies in the coverage and quality of information included in Knowledge Panels.
  • White paper
    • Add something about geospatial mapping of belief.
    • Note that belief maps are cultural artifacts, so comparing someone from one belief space to others in a shared physical belief environment can be roughly equivalent to taking the dot product of the belief space vectors that you need to compare. This could produce a global “alignment map” that can suggest how aligned, opposed, or indifferent a population might be with respect to an intervention, ranging from medical (Ebola teams) to military (special forces operations).
      • Similar maps related to wealth in Rwanda based on phone metadata: Blumenstock, Joshua E., Gabriel Cadamuro, and Robert On. 2015. “Predicting Poverty and Wealth from Mobile Phone Metadata.” Science350 (6264):1073–6. https://doi.org/10.1126/science.aac4420F2.large
    • Added a section about how mapping belief maps would afford prediction about local belief, since overall state, orientation and velocity could be found for some individuals who are geolocated to that area and then extrapolated over the region.

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