Social Networks and their Economics. Influencing Consumer Choice

Reveals how consumer choice can be better understood and influenced using social networks analysis (SNA) Intuitively, we all appreciate that we can be influenced by our friends and peers in what we do, how we behave, and what products we consume. Until recently, it has been difficult to measure this interdependence, mainly because data on social networks was difficult to collect and not readily available. More and more companies such as mobile phone carriers or social networking sites such as Facebook are collecting such data electronically. Daniel Birke illustrates in compelling real-world case studies how companies use social networks for marketing purposes and which st…