Figure: Table IX showing [Poisson CH prediction and empirical frequency for betting game [Sovik 2000]]
Caption: TABLE IX POISSON CH PREDICTION AND EMPIRICAL FREQUENCY FOR BETTING GAME [SOVIK 2000]
Figure text: State of the world A B C D Pla…The research question is whether players use the nominal payoff, or act as if they calculated real payoffs. If players use real payoffs and are in equilibrium, they will either choose prices of 11 and 14 (depending on which of two cost stru…
Groucho Marx
comedian · 4 mentions across 2 readings
In this course
Groucho Marx appears here only as a passing reference to his famous aphorism about club membership, which the reading repurposes to theorize social capital fragility and "evaporative cooling"—the phenomenon where communities collapse when they become too popular or inclusive. The author uses Marx's quip as a philosophical touchstone for understanding how status hierarchies and selective belonging maintain certain social networks, before the dynamics that make them desirable paradoxically destroy them.
Mentioned in 2 readings
Social network effects are different. If you've lived in New York City, you've likely seen, over and over, night clubs which are so hot for months suddenly go out of business
just a short while later. Many types of social capital have qual…Groucho Marx was ahead of his time as a social capital philosopher, but we can build upon his work. To his famous aphorism we should add some variants. When it comes to evaporative cooling, two come to mind: “I don’t want to belong to any c…
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