GhostOnTheHalfShell
This article did the rounds a few weeks back. I want to highlight how research findings puts text book economic ideas surrounding demand, especially "Nobel Prize" theory, in a blender dialed to eviscerate, Revealed Preference
The most interesting reason people remain on platforms they don't like is FOMO, which says rather a lot about the only 'value' of any social media platform.
🧵
HistoPol (#HP) 🥥 🌴
👉"Would you pay to quit TikTok and Instagram? You’d be surprised how many would..."👈
(1/3)
Really fascinating, although: you could offer me any $ amount--I've never had a TikTok or IG account. 😉
(Unofficial trial accounts aside.)
Via
#PeterMartin, Crawford School of Public Policy, #AustralianNationalUniversity
"...#EconomicSocietyOfAustralia have been presented with new findings about the value of social media that point in a shocking ...
GhostOnTheHalfShell
It's quite extraordinary when you think about it. The intense pressure to appear to be up to date. It's not even an internal imperative; it's an imposed norm with no moral imperative driving it.
HistoPol (#HP) 🥥 🌴
@GhostOnTheHalfShell
*Would you pay to quit TikTok and Instagram? You’d be surprised how many would...*
(2/3)
...direction. They
suggest it is negative.
That’s right:
the findings suggest 👉social media is worth less to us than the zero we pay for it. That suggests we would be better off without it👈....
Most of the #TikTok users
(64%) and almost half of the #Instagram users (48%) were prepared to pay to be off them, so long as others were off them, resulting in average valuations...
HistoPol (#HP) 🥥 🌴
*Would you pay to quit #TikTok and #Instagram? You’d be surprised how many would*
(3/3)
...across all users of minus US$28 for TikTok and minus $10 for Instagram.
👉Many users would prefer #TikTok didn’t exist👈
The finding is a measure of the extent to which many, many users hate TikTok and Instagram, even though 👉they feel compelled to use them.👈"
Read on:
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