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Alternative Incentives for Positive Network Effects
If a product/service should generate positive network effects, how do you make the value comparable for the 1st and the 1 billionth user? Accomplishing this means that you can offer more value to the early adopters, and if so, then the network of users should grow faster, or equivalently, adoption should be faster. “In economics,…
What Does a Training Data Market Mean for Authors?
If any text can be training data for a Large Language Model, then any text is a training dataset that can be valued through a market for training data. Which datasets have high value? Wikipedia, StackOverflow, Reddit, Quora are examples that have value for different reasons, that is, because they can be used to train…
Can LLM AI Be a Source of Competitive Advantage?
Let’s start with the optimistic “yes”, and see if it remains acceptable. Before we get carried away, a few reminders. For an LLM to be a source of competitive advantage, it needs to be a resource that enables products or services of a firm “to perform at a higher level than others in the same…
When is Decision Governance Valuable?
Decision governance consists of defining how decisions should be made, and auditing that the processes for doing so are in fact applied. While it often seems like decisions are simply made, and there isn’t much to govern, this is incorrect. It is possible to completely change how to think about decisions, in particular in terms…
When Is It Useful to Reify Decisions?
It has been successfully argued in research on organizations that a decision is an abstraction [1], if it is defined as a commitment to a course of action. If I say that I decided to go skiing tomorrow, is this abstract or concrete? The only thing you can observe will be my behavior and the…
Critical Decision Concept in the Algorithmic Accountability Act
The Algorithmic Accountability Act of 2022, here, applies to systems that help make, or themselves make (or recommend) “critical decisions”. Determining if something is a “critical decision” determines if a system is subject to the Act or not. Hence the interest in the discussion, below, of the definition of “critical decision”. The Act defines a…