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2. Faceboook or Google? Suppose there are only two main social media sites in the world, Facebook and Google. Suppose further that initially there was
2. Faceboook or Google? Suppose there are only two main social media sites in the world, Facebook and Google. Suppose further that initially there was only one: Facebook, but that there was a lot of dissatisfaction with it. For example, complaints ranged from: \"they changed the way the news feed works", \"the privacy settings are awful\(a) While this is not a dynamic situation, the utility functions to this large population interaction are closely related to those given on slide #30 of Lecture 9. As precisely as possible, relate the situation above to the parameters on slide #30. > Consumers: > Two equally likely types of consumers, \"A fans\" and \"B fans\" > \"Myopic\" network size evaluation: > Consumer arriving at t evaluates network based on its size at t (no expectations) > The utility functions of the consumers are as follows: Good A Good B A fans 6A + vn; 63 + vn'B B fans [1A + vntg [.13 + vnta > In the table, n} is the number of users of good j e {A, B} at time t > Assume: v > 0; GA > 63;\" Denote: 6t = n; \"f9
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