English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

Social influence is ubiquitous in cultural markets, from book recommendationsin Amazon, to song popularities in iTunes and the ranking of newspaper articlesin the online edition of the New York Times to mention only a few. Yet socialinfluence is often presented in a bad light, often because it supposedlyincreases market unpredictability.  Here we study a model of trial-offer markets, in which participants tryproducts and later decide whether to purchase. We consider a simple policywhich ranks the products by quality when presenting them to marketparticipants. We show that, in this setting, market efficiency always benefitsfrom social influence. Moreover, we prove that the market converges almostsurely to a monopoly for the product of highest quality, making the market bothpredictable and asymptotically optimal. Computational experiments confirm thatthe quality ranking policy identifies "blockbusters" in reasonable time,outperforms other policies, and is highly predictable. These results indicatethat social influence does not necessarily increase market unpredicatibility.The outcome really depends on how social influence is used.

On the Optimality and Predictability of Cultural Markets with Social Influence