Rational Ritual

2013-04-28 Mathematics

Author : Michael Suk-Young Chwe
Release : 2013-04-28
Genre : Mathematics
Kind : eBook
Book Rating : 282/5 ( reviews)

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Book Synopsis Rational Ritual by : Michael Suk-Young Chwe

Download or read book Rational Ritual written by Michael Suk-Young Chwe. This book was released on 2013-04-28. Available in PDF, EPUB and Kindle. Book excerpt: "Why do beer commercials dominate Super Bowl advertising? How do political ceremonies establish authority? Why were circular forms favored for public festivals during the French Revolution? This book answers these questions using a single concept: common knowledge. Game theory shows that in order to coordinate its actions, a group of people must form "common knowledge." Each person wants to participate only if others also participate. Members must have knowledge of each other, knowledge of that knowledge, and so on. Michael Chwe applies this insight, with striking erudition, to analyze a range of rituals across history and cultures. He shows that public ceremonies are powerful not simply because they transmit meaning from a central source to each audience member but because they let audience members know what other members know. In a new afterword, Chwe delves into new applications of common knowledge, both in the real world and in experiments, and considers how generating common knowledge has become easier in the digital age." -- From the jacket.

Rational Ritual

2013-04-21 Social Science

Author : Michael Suk-Young Chwe
Release : 2013-04-21
Genre : Social Science
Kind : eBook
Book Rating : 439/5 ( reviews)

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Book Synopsis Rational Ritual by : Michael Suk-Young Chwe

Download or read book Rational Ritual written by Michael Suk-Young Chwe. This book was released on 2013-04-21. Available in PDF, EPUB and Kindle. Book excerpt: Why do Internet, financial service, and beer commercials dominate Super Bowl advertising? How do political ceremonies establish authority? Why does repetition characterize anthems and ritual speech? Why were circular forms favored for public festivals during the French Revolution? This book answers these questions using a single concept: common knowledge. Game theory shows that in order to coordinate its actions, a group of people must form "common knowledge." Each person wants to participate only if others also participate. Members must have knowledge of each other, knowledge of that knowledge, knowledge of the knowledge of that knowledge, and so on. Michael Chwe applies this insight, with striking erudition, to analyze a range of rituals across history and cultures. He shows that public ceremonies are powerful not simply because they transmit meaning from a central source to each audience member but because they let audience members know what other members know. For instance, people watching the Super Bowl know that many others are seeing precisely what they see and that those people know in turn that many others are also watching. This creates common knowledge, and advertisers selling products that depend on consensus are willing to pay large sums to gain access to it. Remarkably, a great variety of rituals and ceremonies, such as formal inaugurations, work in much the same way. By using a rational-choice argument to explain diverse cultural practices, Chwe argues for a close reciprocal relationship between the perspectives of rationality and culture. He illustrates how game theory can be applied to an unexpectedly broad spectrum of problems, while showing in an admirably clear way what game theory might hold for scholars in the social sciences and humanities who are not yet acquainted with it. In a new afterword, Chwe delves into new applications of common knowledge, both in the real world and in experiments, and considers how generating common knowledge has become easier in the digital age.

Rational Ritual

2001 Business & Economics

Author : Michael Suk-Young Chwe
Release : 2001
Genre : Business & Economics
Kind : eBook
Book Rating : 712/5 ( reviews)

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Book Synopsis Rational Ritual by : Michael Suk-Young Chwe

Download or read book Rational Ritual written by Michael Suk-Young Chwe. This book was released on 2001. Available in PDF, EPUB and Kindle. Book excerpt: Why do Internet, financial service, and beer commercials dominate Super Bowl advertising? How do political ceremonies establish authority? Why does repetition characterize anthems and ritual speech? Why were circular forms favored for public festivals during the French Revolution? This book answers these questions using a single concept: common knowledge. Game theory shows that in order to coordinate its actions, a group of people must form "common knowledge." Each person wants to participate only if others also participate. Members must have knowledge of each other, knowledge of that knowledge, knowledge of the knowledge of that knowledge, and so on. Michael Chwe applies this insight, with striking erudition, to analyze a range of rituals across history and cultures. He shows that public ceremonies are powerful not simply because they transmit meaning from a central source to each audience member but because they let audience members know what other members know. For instance, people watching the Super Bowl know that many others are seeing precisely what they see and that those people know in turn that many others are also watching. This creates common knowledge, and advertisers selling products that depend on consensus are willing to pay large sums to gain access to it. Remarkably, a great variety of rituals and ceremonies, such as formal inaugurations, work in much the same way. By using a rational-choice argument to explain diverse cultural practices, Chwe argues for a close reciprocal relationship between the perspectives of rationality and culture. He illustrates how game theory can be applied to an unexpectedly broad spectrum of problems, while showing in an admirably clear way what game theory might hold for scholars in the social sciences and humanities who are not yet acquainted with it.

Raindancing

2013-03-01 Business & Economics

Author : Glenn Granger
Release : 2013-03-01
Genre : Business & Economics
Kind : eBook
Book Rating : 850/5 ( reviews)

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Book Synopsis Raindancing by : Glenn Granger

Download or read book Raindancing written by Glenn Granger. This book was released on 2013-03-01. Available in PDF, EPUB and Kindle. Book excerpt: This groundbreaking book launches a passionate crusade for ‘rational marketing’ – based on facts and data, rather than guesswork, traditions and raindancing. Marketing without measurement is myth. “Until now,” says Glenn Granger, “marketers have been flying blind. Even the big brands that can afford to pay consultants for data modelling and forecasting are only getting snapshots, retrospectively, once or twice a year. And media costs are high, so the numbers can be huge. Nowhere outside marketing are millions invested – or gambled – with so little analysis and scrutiny.” How different would business be if powerful modelling tools that were as easy to use as spreadsheets or word processors could be there on every marketer’s desktop? What if these tools could help with everyday decisions, like whether to take up a media owner’s last-minute 3-for-2 offer, and whether a price cut would be a great move or commercial suicide? Bringing rational accountability to marketing is not about deskilling. It is about giving the marketer a new power to fine tune campaign spending, defend budgets and predict the impact of specific initiatives. Glenn Granger draws on his own high-level consulting and business experience to make the case for this urgently-needed marketing revolution. His upbeat, non-technical style makes Raindancing startling, vivid and vital reading for chief executives, finance directors, CMOs and everyone who works in marketing.

Summary of Rational Ritual – [Review Keypoints and Take-aways]

2022-11-27 Study Aids

Author : PenZen Summaries
Release : 2022-11-27
Genre : Study Aids
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Summary of Rational Ritual – [Review Keypoints and Take-aways] by : PenZen Summaries

Download or read book Summary of Rational Ritual – [Review Keypoints and Take-aways] written by PenZen Summaries. This book was released on 2022-11-27. Available in PDF, EPUB and Kindle. Book excerpt: The summary of Rational Ritual – Culture, Coordination, and Common Knowledge presented here include a short review of the book at the start followed by quick overview of main points and a list of important take-aways at the end of the summary. The Summary of A profound examination of the function that rituals, ceremonies, and media events play in modern society from the perspective of game theory is provided in the book Rational Ritual . These rites have been practised throughout the ages in order to develop a "common knowledge" that enables people to find solutions to problems such as determining which ruler to obey and which goods to purchase. Essential reading for budding Robespierres or Steve Jobses alike. Rational Ritual summary includes the key points and important takeaways from the book Rational Ritual by Michael Suk-Young Chwe. Disclaimer: 1. This summary is meant to preview and not to substitute the original book. 2. We recommend, for in-depth study purchase the excellent original book. 3. In this summary key points are rewritten and recreated and no part/text is directly taken or copied from original book. 4. If original author/publisher wants us to remove this summary, please contact us at [email protected].

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