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isds 3100 exam 2 lsu questions and answers
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isds 3100 exam 2 lsu questions and answers
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isds 3100 exam 2 lsu questions andanswers
network economics - Answers -valuse is typically found in scarcity
value on a diamond depends on its physical attributes and characterisitics, value is
proportional to the rarity
value in plentitude - Answers -the value of a network is proportional to the number of
connected nodes
very first copy of instagram is vallueless
physical network - Answers -the ndoes of the network are connected by physical links
(telephone network, railroad network)
virtual network - Answers -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 - Answers -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 - Answers -dynamics that occur in networks go under the name of
network effects, network eternalities, or demand side economies of scale
network effects create - Answers -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 - Answers -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 - Answers -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) - Answers -in order to wring value from data and
information you must understand its economic characterisitics
data - Answers -codified raw facts
information - Answers -data in context
economic characterisitics of information - Answers -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
richness - Answers -amount of info that can be transmitted, degree to which info can be
tailored to needs and the level of interactivity of the message
reach - Answers -represetns the number of possible recipients of the message
sustaining technologies - Answers -❖Maintain or rejuvenate the current rate of
performance improvement of the products and services that use them
❖Extend the useful life of the product as the market demands further and further
improvements à it will therefore be a good candidate to replace a previous generation
because it offers the same set of attributes, but it yields superior performance
example of sustaining technology - Answers -incremental changes in micro proccessor
performance
disruptive technologies - Answers -❖The technology offers a different set of attributes
than the technology the firm currently uses in its products
❖The performance improvement rate of the technology is higher than the rate of
improvement demanded by the market
❖It offers two advantages:
❖a different set of performance characteristics
❖a high rate of performance improvement on the critical performance dimensions
example of disruptive technology - Answers -netflix mail order and subsequent
streaming service disrupted the video rental market (blockbuster)
internet - Answers -network of networks
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