Friday, November 21, 2008

Will - Tell - Tail - Thaler

The Long Tail a Shaggy Dog Tail?

Will Page at Telco2 rolled out some results on research conducted with a "major online music hub", on "long tail economics". The long and the short of it (ta-dum!), is that the Internet and "physical retail" have the same distribution, and the long tail may not be serviceable at all. This is no simple contrarian view, Will knows his stuff and this is going into the Harvard Business Review. It really is interesting to compare to other social media studies of content creation, co-creation, and consumption.

Demming Undoes Detroit

In a week that sees Detroit on bended knee (albeit, one that was flown in on a private jet), Toyota continues to be a model of lean production values. McKinsey carry a piece on getting Toyota lean production into an organisation, and from what I can see, its the same thing that Toyota were expounding 30 years ago. Its our survival we are talking about, lets get responsible to each other, lets make it better every day. Yes there are tools, and yes their are techniques, but as the article says "Its the soft stuff that's hard to do".


The Inter-Temporal Choice of Swans

And if you were wondering (as I was a few days ago) as to why people make strange decisions around what they can and cannot afford to buy (and repay), Mr. Thaler of the Ole Black Swan has a paper on Inter-Temporal choice, a fancy way for saying people make dumb decisions when the results are times into the future. From simple experiments on discounting future money to social engineering in Virginia where if high school kids dropped out of school they lost their driving licence, reveal that many are unable to delay gratification into the future.

InterTemporal Choice Graph

Go have a gander at the paper, its interesting.

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