Skip to main content

Info Traders, Innovation and Information Spread

  • Chapter
Media Convergence Handbook - Vol. 1

Part of the book series: Media Business and Innovation ((MEDIA))

  • 2800 Accesses

Abstract

The main aim of this chapter is to define and explore the effects of the information spread and the actors who introduce fundamental changes in the information stream direction across the converging media channels. The actors in social networks and influence thresholds are important determinants that affect behaviour of the rest of the nodes in online social networks. Contrary to the popular notion it was proved during the study that the expression of opinion and high activity do not create influence. The most vocal nodes in the graphs were not the most influential or even next to the most influential.

The research presents evidence how technological convergence produces social divergence which is based on newly introduced “segregation” rules in the online social networks. The models of technology adoption and network structure are important and determine the effects of the information diffusion and the rate of contagion that affect the process of convergence, namely the shifts in cultural and social paradigms. While the quantity of information rises, the ability to process and the competence to operate with is bounded, this leads to the superiority of the most technologically and/or communicationally advanced individuals and organizations—the info traders. We define three categories (dimensions) of info traders and explain their role in the networks through the presented case studies.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Altucher, J. (2011a). 10 unusual things you didn’t know about Steve Jobs. Available from www.huffingtonpost.com

  • Altucher, J. (2011b). 10 unusual things you didn’t know about Steve Jobs. Available from http://www.dailyfinance.com

  • Arthur, W. B. (1997). Competing technologies, increasing returns, and lock-in by historical small events. In B. Arthur (Ed.), Increasing returns and path dependence in the economy (pp. 13–32). Michigan: Michigan University Press.

    Google Scholar 

  • Barabasi, L., & Reka, A. (1999, October 15). Emergence of scaling in random networks. Science, 286, 509–512.

    Google Scholar 

  • Bass, F. (1969). A new product growth model for consumer durables. Management Science, 15, 215–228.

    Article  Google Scholar 

  • BBC News. (2008, January 7). Warner backs Sony blu ray format. Available from http://news.bbc.co.uk/2/hi/technology/7174591.stm

  • BG-mama.com (2008). Discussion forum. Available: http://www.bg-mamma.com/?topic=285851.0#

  • Bijker, W. E. (1995). Of bicycles, bakelites and bulbs: Towards a theory of sociotechnical change. Cambridge, MA: MIT Press.

    Google Scholar 

  • Bijker, W. E., & Pinch, J. T. (1984). The social construction of facts and artifacts: Or how the sociology of science and the sociology of technology might benefit of each other. In W. E. Bijker, P. T. Hughes, & J. T. Pinch (Eds.), The social construction of technological systems (pp. 17–50). Cambridge, MA: MIT Press.

    Google Scholar 

  • Bloch, F. (1995). Endogenous structures of association of oligopolies. The RAND Journal of Еconomics, 26(3), 537–556.

    Article  Google Scholar 

  • Bonacich, P. (1979). The common structure semigroup: А replacement for the Boorman and White joint reduction. American Journal of Sociology, 86, 159–166.

    Article  Google Scholar 

  • Callon, M. (1986). Some elements of a sociology of translation: Domestication of the scallops and the fishermen of St Brieuc Bay. In J. Law (Ed.), Power, action and belief: A new sociology of knowledge. London: Routledge & Kegan Paul.

    Google Scholar 

  • Chan, K., & Misra, S. (1990). Characteristics of the opinion leader: A new dimension. Journal of Advertising, 19, 53–60.

    Article  Google Scholar 

  • Christ, J., & Slowak, A. (2009). Why Blu-Ray vs. HD-DVD is not VHS vs. Betamax: The co-evolution of standard-setting consortia. FZID Discussion Papers, University of Hohenheim.

    Google Scholar 

  • Daidj, N., Grazia, C., & Hammoudi, A. (2010). Introduction to the non-cooperative approach to coalition formation: The case of the Blu-Ray/HD-DVD standards’ war. Journal of Media Economics, 23(4), 192–215.

    Article  Google Scholar 

  • Еasly, D., & Kleinberg, J. (2010). Networks, crowds, and markets: Reasoning about a highly connected world. Cambridge: Cambridge University Press.

    Google Scholar 

  • Granovetter, M. (1978). Threshold models of collective behavior. American Journal of Sociology, 83, 1420–1443.

    Article  Google Scholar 

  • Hart, S., & Kurz, M. (1983). Endogenous formation of coalitions. Econometrica, 51, 1047–1064.

    Article  Google Scholar 

  • Judd, S., & Kearns, M. (2008). Behavioral experiments in networked trade. In T. Sandholm, J. Riedl, & L. Fortnow (Eds.), Proceedings of the 2008 ACM Conference on Electronic Commerce (pp. 150–159). New York: Association for Computing Machinery.

    Google Scholar 

  • Katz, E., & Lazersfeld, P. (1955). Personal influence: The part played by people in the flow of mass communications. Glencoe, IL: Free Press.

    Google Scholar 

  • Kearns, M., Suri, S., & Montfort, N. (2006). An experimental study of the coloring problem on human subject networks. Science, 313, 824–827.

    Article  Google Scholar 

  • Latour, B. (2005). Reassembling the Social: An introduction to actor-network-theory. New York: Oxford University Press.

    Google Scholar 

  • Liebowitz, S. J., & Margolis, S. E. (1995). Path dependence, lock-in, and history. Journal of Law, Economics and Organization, 11(1), 205–226.

    Google Scholar 

  • May, C., & Finch, T. (2009). Implementation, embedding, and integration: An outline of normalization process theory. Sociology, 43(3), 535–554.

    Article  Google Scholar 

  • Merton, R. (1968). Patterns of influence: Local and cosmopolitan influentials. In R. Merton (Ed.), Social theory and social structure (pp. 441–474). New York: FreePress.

    Google Scholar 

  • Miller, J., & Page, S. (2004). Standing ovation problem. Available from http://www2.econ.iastate.edu

  • Mizruchi, M. S., & Bunting, D. (1981). Influence in corporate networks: An examination of four measures. Administrative Science Quarterly, 26(3), 475–489.

    Article  Google Scholar 

  • North, D. (1981). Structure and change in economic history. New York: Norton.

    Google Scholar 

  • Nowotny, H., Scott, P., & Gibbons, M. (2001). Re-thinking science: Knowledge and the public in an age of uncertainty. Cambridge, UK: Polity Press.

    Google Scholar 

  • Rogers, E. (2003). Diffusion of innovations. New York: Free Press.

    Google Scholar 

  • Schelling, T. (1978). Micromotives and macrobehavior. New York: Norton.

    Google Scholar 

  • The Economist. (2011). Steve Jobs: Beauty justifies wealth. Available from www.economist.com

  • Tidd, J. (2006). A review of innovation models. Imperial College London, 16

    Google Scholar 

  • Wasserman, S., & Faust, K. (1994). Social network analysis: Methods and applications. Cambridge: Cambridge University Press.

    Book  Google Scholar 

  • Watts, D., & Dodd, P. (2007). Influentials, networks and public opinion formation. Journal of Consumer Research, 34, 441–458.

    Article  Google Scholar 

  • Wigand, R. T., & Frankwick, G. L. (1989). Inter–organizational communication and technology transfer: Industry–government–university linkages. International Journal of Technology Management, 4(1), 63–76.

    Google Scholar 

  • Willamson, O. (1985). The economic institutions of capitalism (pp. 55–60). New York: The Free Press.

    Google Scholar 

  • Zhang, Y., Zhou, S., Zhang, Z., Guan, J., Zhou, S. (2013). Rumor evolution in social networks. Physical Review E87. Available from http://arxiv.org/pdf/1102.1487.pdf

  • Zlatanov, B., & Koleva, M. (2014). Networks of collective power: (Non)movements and semantic networks. Conference paper, ECREA Conference, Lisbon.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Biser Zlatanov .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2016 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Zlatanov, B., Koleva, M. (2016). Info Traders, Innovation and Information Spread. In: Lugmayr, A., Dal Zotto, C. (eds) Media Convergence Handbook - Vol. 1. Media Business and Innovation. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-54484-2_18

Download citation

Publish with us

Policies and ethics