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Web 2.0, UGC , Metcalfe and Reed : , ?
* http://www.flickr.com/photos/36521959321@N01/44349798UGC: User Generated Content" "
http://jcmc.indiana.edu " : http://shil.info (, ) http://misbook.yeda.info ( ) http://qsia.org " " Idea Futures http://answers.google.com
The Wisdom of Crowds
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Metcalfe, ReedSee Reeds stuff on http://www.reed.com /gfn and in HBRMetcalfe: the total value of a communication network grows with the square of the number of devices or people it connects. Reed: While many kinds of value grow proportionally to network size and some grow proportionally to the square of network size, some network structures scale even faster. Networks that support the construction of communicating groups create value that scales exponentially with network size Group Forming Networks
Raban and Rafaeli; Ravid and Rafaeli
()The Ownership Imperative (Branscombe vs. Rafaeli)Free as in Free Beer, Free Speech, Freedom?Free to whom?The Wealth of Networks (Benkler)
(, )Leaderboards( )YouTubes Views, Ratings, Invites
Wiki barnstars :
We hypothesize that monetary markets are highly sensitive to the magnitude of compensation,whereas social markets are not. This perspectivecan shed light on the well-established observation that people sometimes expend more effort in exchange for no payment (a social market) than they expend when they receive low payment (a monetary market)
Behavioral EconomicsEndowment Effect
( ?) : In kind rewards " " , Karma Points , , Erdos numbers
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Points Credits Ranks Tags
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CURRENT STUDY:Edelman (2004)Regner (2004)Period of Study06/2002 10/200404/2002 11/200307/2003-01/2004 29 months20 months7 monthsNumber of questions asked 77,67343,26213,948Number of answers provided 37,97024,2906,853Number of questions with comments39,436NANANumber of comments sent 97,802NARated answers23,868NATipped answers7,503NA1,745Average dollar value of answer$20.10$18.91$21.59Average answer rating (on a 5 point scale)4.60 4.334.70Average answer tip value$8.86$8.77$8.94
Results - descriptive
Results - descriptive
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I draw two morals from this story....||
The world is full of examples of people voluntarily adhering to norms, helped along by their public accountability to others. The number of comments is approximately twice the number of answers thats a high level of sharing (approx. 1:1). About 50% (48.9%) of the questions received answers for $$$On average every question received one comment (0.96 comments)Under-trading and under-sharing not a problem in this system. Why?Large number of responders available critical mass exceeded.Pricing mechanism based on WTP only under-trading in experiments stemmed from WTA!
27.7% price increase within 2 years (8/2002-8/2004) does it indicate the value of the system? The experts? Of information itself? Inverse value of search engines?37% increase in average tip between Nov. 2002- Sept. 2004. The tip increased from about 40% of the price to about 48% of the price. Tipping seems to be an efficient way to adjust market prices when it is given. What would induce customers to tip more often?Ling et al in a recent JCMC article (with Kraut and Resnick) found that uniqueness of contribution constitutes a social incentive to sharing on an individual level. We found that the existence of a market generates a high level of sharing and that social incentives feed back into the market thats in the collective level (entire site). There seems to be a reciprocal relationship: the market generates interaction and interaction activates the market