As you should know, the purpose of insulation is to create dead air space. DEAD air does not transfer temperatures.
better insulation
Generally speaking, insulation slows the movement of thermal energy by convection. The dead air spaces in fiberglass insulation make it a good bet to put in walls and under roof spaces. Styrofoam coolers work because the many, many tiny air spaces in the styrofoam are places where air is trapped, and those are dead air spaces.
for thermal insulation
I am not sure where you heard this but the thickness of old putty against the thickness of insulation for r-value is not as good. The best insulator is air. Fiberglass insulation has a high r-value because of the air it holds not the fiberglass itself. So that's why you don't cram 6in fiberglass into a 4in space, it does not work when you compress it.
Yes, even plastic bag can be used. You just need to create a space of dead air to cause insulation.
Heat will always migrate through anything. The rate is the only thing we can control. Dead air space (motionless air) is the best natural insulator. Fiberglass insulation is used to try to trap as much air and hold it as motionless as possible. This is why you should never compress insulation; you're pushing out the trapped air.
The statement of calling it a vacuum mean there a no atoms between a space without the atoms or molecules in this space heat can not be transferred. Without this transfer of heat things can not heat up or cool down.
Insulation reduces heat loss by replacing air space with a less conductive material (insulation). Therefore the answer is conduction.
like any good insulation it has gazillions of microscopic dead air spaces that effectively block heat and cold transfer.
Shredded paper is a good insulator because it creates a lot of dead air space. The layers of air held in by the paper is what has an insulating effect.
it is good heat insulator, as it has air in it. as air is a good insulator of heat, the sponge, which has lots of pockets of air also becomes a good insulator