Modeling Consumer Learning From Online Product Reviews

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Modeling Consumer Learning from Online Product Reviews

Author : Ying Zhao
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Modeling Consumer Learning from Online Product Reviews by : Ying Zhao

Download or read book Modeling Consumer Learning from Online Product Reviews written by Ying Zhao and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a structural model to study the effect of online product reviews on consumer purchases of experiential products. Such purchases are characterized by limited repeat purchase behavior of the same product item (such as a book title) but significant past usage experience with other products of the same type (such as books of the same genre). To cope with the uncertainty in quality of the product item, we posit that consumers may learn from their experience with the same type of product and others' experiences with the product item. We model the review credibility as the precision with which product reviews reflect the consumer's own product evaluation. The higher the precision, the more credible the information obtained from product reviews for the consumer, and the larger the effect of reviews on the consumer's choice probabilities. We extend the Bayesian learning framework to model consumer learning on both product quality and review credibility. We apply the model to a panel data set of 1,919 book purchases by 243 consumers. We find that consumers learn more from online reviews of book titles than from their own experience with other books of the same genre. In the counterfactual analysis, we illustrate the profit impact of product reviews and how it varies with the number of reviews. We also study the phenomenon of fake reviews. We find that fake reviews increase consumer uncertainty. The effects of more positive reviews and more numerous reviews on consumer choice are smaller on online retailing platforms that have fake product reviews.

Modeling Consumer Adoption of the Internet as a Shopping Medium: An Integrated Perspective

Author : Chuanlan Liu
Publisher : Cambria Press
ISBN 13 : 1621968723
Total Pages : 226 pages
Book Rating : 4.6/5 (219 download)

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Book Synopsis Modeling Consumer Adoption of the Internet as a Shopping Medium: An Integrated Perspective by : Chuanlan Liu

Download or read book Modeling Consumer Adoption of the Internet as a Shopping Medium: An Integrated Perspective written by Chuanlan Liu and published by Cambria Press. This book was released on 2004 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook of Research on New Product Development

Author : Peter N. Golder
Publisher : Edward Elgar Publishing
ISBN 13 : 1784718157
Total Pages : 469 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Handbook of Research on New Product Development by : Peter N. Golder

Download or read book Handbook of Research on New Product Development written by Peter N. Golder and published by Edward Elgar Publishing. This book was released on 2018 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: New products are the major driver of revenue growth in today's dynamic business environment. In this Handbook, the world's foremost experts on new product development bring together the latest thinking on this vitally important topic. These thought-leading authors organize knowledge into useful and insightful frameworks covering all aspects of new product development: companies, collaborators, customers, context, markets, and performance. Managers will benefit from the handbook by expanding their knowledge of new product development and researchers will learn about opportunities to continue expanding on this body of knowledge.

Alone, Together

Author : Tommaso Bondi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Alone, Together by : Tommaso Bondi

Download or read book Alone, Together written by Tommaso Bondi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a dynamic model of naïve social learning from consumer reviews. In our model, consumers decide which of two products to buy based on both expected quality and idiosyncratic taste. Products' qualities are initially unknown, and are (mis)learned from reviews. At the heart of the model lies a dynamic feedback loop between reviews, beliefs, and choices: period t reviews influence t + 1 consumers' beliefs, and thus choices; these determine the average of t + 1 reviews, which in turn influences t + 2 beliefs, choices and reviews. We show that in the long-run (t = ∞), reviews are systematically biased, leading some consumers astray. In particular, reviews relatively advantage lower quality and more polarizing products, since these products induce stronger taste-based consumer self-selection. Thus, in stark contrast with the winner-takes-all dynamics of classic observational learning models, in which consumers learn from the choices of their predecessors, social learning from opinions generates excessive choice fragmentation. Our findings have implications for interpreting the variance of reviews; pricing in presence of reviews; the design of crowd-sourced exploration; and the short and long term effectiveness of fake reviews.

Rating Professors Online

Author : Pamela Leong
Publisher : Springer Nature
ISBN 13 : 3030359360
Total Pages : 199 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Rating Professors Online by : Pamela Leong

Download or read book Rating Professors Online written by Pamela Leong and published by Springer Nature. This book was released on 2020-02-07 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the emerging trends and patterns in online student evaluations of teaching and how online reviews have transformed the teacher-student relationship as developments in technology have altered consumer behaviors. While consumers at large rely more and more on web-based platforms to purchase commercial products and services, they also make highly personal decisions regarding the choice of service providers in health care, higher education, and other industries. The chapters assess the challenges that web-based platforms such as RateMyProfessors.com pose for service providers in higher education and other industries, and the role of these online consumer review sites in driving consumer expectations. In framing her argument, the author considers the validity of online rating systems and the credibility and trustworthiness of online consumer reviewers. She also evaluates cultural trends that play a role in perpetuating systems of inequality such as racism, sexism, and ageism in online consumer reviews.

Handbook of Marketing Decision Models

Author : Berend Wierenga
Publisher : Springer
ISBN 13 : 3319569414
Total Pages : 598 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Handbook of Marketing Decision Models by : Berend Wierenga

Download or read book Handbook of Marketing Decision Models written by Berend Wierenga and published by Springer. This book was released on 2017-07-12 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second Edition of this book presents the state of the art in this important field. Marketing decision models constitute a core component of the marketing discipline and the area is changing rapidly, not only due to fundamental advances in methodology and model building, but also because of the recent developments in information technology, the Internet and social media. This Handbook contains eighteen chapters that cover the most recent developments of marketing decision models in different domains of marketing. Compared to the previous edition, thirteen chapters are entirely new, while the remaining chapters represent complete updates and extensions of the previous edition. This new edition of the Handbook has chapters on models for substantive marketing problems, such as customer relationship management, customer loyalty management, website design, Internet advertising, social media, and social networks. In addition, it contains chapters on recent methodological developments that are gaining popularity in the area of marketing decision models, such as structural modeling, learning dynamics, choice modeling, eye-tracking and measurement. The introductory chapter discusses the main developments of the last decade and discusses perspectives for future developments.

The Behavioral Economics of Digital Customer-Firm Interactions

Author : Camila Back
Publisher : BoD – Books on Demand
ISBN 13 : 3756863387
Total Pages : 219 pages
Book Rating : 4.7/5 (568 download)

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Book Synopsis The Behavioral Economics of Digital Customer-Firm Interactions by : Camila Back

Download or read book The Behavioral Economics of Digital Customer-Firm Interactions written by Camila Back and published by BoD – Books on Demand. This book was released on 2022-08-19 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of digital technologies have given rise to new forms of customer-firm interactions (e.g., the use of digital assistants in customer service). The shift towards digitization of customer-firm interactions enables a wide and easily scalable new set of offerings to consumers. From a consumer perspective, the increased use of digital technologies constantly shape individual decisions and attitudes towards firms. This dissertation examines the extent to which customers benefit from these technological advances by taking on a behavioral economics perspective. The main focus of the dissertation lies on two aspects which are highly relevant for firms: (i) customer satisfaction, and (ii) the quality of customers' economic decisions. The dissertation employs a wide set of methods (theoretical modelling, analysis of experimental data, analysis of observational data) and consists of three articles. Article 1 is conceptual in nature and lays the theoretical foundation by providing theoretical insights on customer-related decision processes from a behavioral economics perspective. Article 2 looks at how the availability and presentation of information influences customer satisfaction. The focus of Article 3 lies on technology's impact on economic decision making with a particular interest on automated investment advice from a robo-advisor, and the role of social design elements.

Leveraging Consumer Behavior and Psychology in the Digital Economy

Author : Suki, Norazah Mohd
Publisher : IGI Global
ISBN 13 : 1799830438
Total Pages : 299 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Leveraging Consumer Behavior and Psychology in the Digital Economy by : Suki, Norazah Mohd

Download or read book Leveraging Consumer Behavior and Psychology in the Digital Economy written by Suki, Norazah Mohd and published by IGI Global. This book was released on 2020-06-26 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasing prevalence of information, communication, and technology, including social media, in the digital economy, leveraging consumer behavior and psychology has become a dominant ground for researchers and practitioners to inspect the trends, opportunities, and challenges to social networking service (SNS) developers and online firms. These platforms have become a key channel for social interactions and networking among individuals and online communities to leverage business activities in respect to product and service visibility and sustainability via the internet. Leveraging Consumer Behavior and Psychology in the Digital Economy is a pivotal reference source that provides current research on topics relevant to consumer behavior, consumer psychology, consumer value, customer satisfaction, and loyalty and how best to utilize this research consumer behavior and psychology in the digital economy. Emphasizing critical topics in the field of consumer behavior research, this publication is a wide-ranging resource for professionals, practitioners, marketers, retailers, business managers, academics, researchers, and graduate-level students interested in the latest material on consumer behavior and psychology in the digital economy.

The Cambridge Handbook of Consumer Psychology

Author : Cait Lamberton
Publisher : Cambridge University Press
ISBN 13 : 1009243942
Total Pages : 873 pages
Book Rating : 4.0/5 (92 download)

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Book Synopsis The Cambridge Handbook of Consumer Psychology by : Cait Lamberton

Download or read book The Cambridge Handbook of Consumer Psychology written by Cait Lamberton and published by Cambridge University Press. This book was released on 2023-04-06 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last two years, consumers have experienced massive changes in consumption – whether due to shifts in habits; the changing information landscape; challenges to their identity, or new economic experiences of scarcity or abundance. What can we expect from these experiences? How are the world's leading thinkers applying both foundational knowledge and novel insights as we seek to understand consumer psychology in a constantly changing landscape? And how can informed readers both contribute to and evaluate our knowledge? This handbook offers a critical overview of both fundamental topics in consumer psychology and those that are of prominence in the contemporary marketplace, beginning with an examination of individual psychology and broadening to topics related to wider cultural and marketplace systems. The Cambridge Handbook of Consumer Psychology, 2nd edition, will act as a valuable guide for teachers and graduate and undergraduate students in psychology, marketing, management, economics, sociology, and anthropology.

Marketing Models

Author : Gary L. Lilien
Publisher : Prentice Hall
ISBN 13 : 9780135456415
Total Pages : 803 pages
Book Rating : 4.4/5 (564 download)

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Book Synopsis Marketing Models by : Gary L. Lilien

Download or read book Marketing Models written by Gary L. Lilien and published by Prentice Hall. This book was released on 1992 with total page 803 pages. Available in PDF, EPUB and Kindle. Book excerpt: The view of this book is that there are essentially three purposes for modeling in marketing: measuring marketing actions and outcomes, developing operational support for marketing decisions, and explaining marketing observations or phenomena.

Consumer Learning and a Firm’s Dynamic Pricing Strategy

Author : Yangyang Wang
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (133 download)

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Book Synopsis Consumer Learning and a Firm’s Dynamic Pricing Strategy by : Yangyang Wang

Download or read book Consumer Learning and a Firm’s Dynamic Pricing Strategy written by Yangyang Wang and published by . This book was released on 2021 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the traditional discrete choice model, we assume that consumers know the product attributes without uncertainty. Learning models extend the discrete choice model by assuming that consumers have incomplete information about product attributes and that they can gradually resolve the uncertainty as they receive more information about the product over time. In the first chapter of this dissertation, I conduct a survey on literature of empirical learning models. I distinguish the learning models into three categories. First, demand side learning models which focuses on the effect of different types of consumer learning on demand. Second, supply side learning models which studies the firm's strategies when it does not have full information of consumer demand. Third, consumer learning and firm's marketing strategies which focuses on the interaction of consumer learning and firm's strategies. Empirical learning models have been proved to be a fruitful area of research activity and consumer learning dynamics have been intensively investigated, but there are two areas for future research --- empirical models that combines consumer learning and firm dynamics and empirical models that feature both consumer learning and firm learning.

Decision Economics: In the Tradition of Herbert A. Simon's Heritage

Author : Edgardo Bucciarelli
Publisher : Springer
ISBN 13 : 3319608827
Total Pages : 162 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis Decision Economics: In the Tradition of Herbert A. Simon's Heritage by : Edgardo Bucciarelli

Download or read book Decision Economics: In the Tradition of Herbert A. Simon's Heritage written by Edgardo Bucciarelli and published by Springer. This book was released on 2017-06-13 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: The special session on Decision Economics (DECON) is a scientific forum held annually and intended to share ideas, projects, research results, models and experiences associated with the complexity of behavioural decision processes and socio‐economic phenomena. DECON 2017 was held at the Polytechnic of Porto, ISEP, Portugal, as part of the 14th International Conference on Distributed Computing and Artificial Intelligence. For the second consecutive year, the Editors of this book have drawn inspiration from Herbert A. Simon’s immense body of work and argue that Simon precipitated something akin to a revolution in microeconomics focused on the concept of decision‐making. Further, it is worth noting that the recognition of relevant decision‐making takes place in a range of critical subject areas and research fields, including economics, finance, information systems, small and international business management, operations, and production. Therefore, decision‐making issues are of fundamental importance in all branches of economics addressed both deductively and inductively. Not surprisingly, the study of decision‐making has seen growing empirical research efforts in the economic literature over the last sixty years and, more recently, a variety of insightful cutting‐edge experimental, behavioural and computational approaches. Additionally, the awareness regarding generalizations and reductions to express economic concepts has led, on the one hand, to an increasing risk of spreading the language of mathematics as a rhetorical tool and, on the other hand, to an oversimplification and overlooking of some crucial details, especially when it comes to human decisions and, hence, economic behaviour. That awareness, however, has helped to produce an extraordinary volume of empirical research aimed at discovering how economic agents cope with complex decisions. In this sense, the international scientific community acknowledges Herbert A. Simon’s research endeavours to understand the processes involved in economic decision‐making and their implications for the advancement of economic professions. Within the field of decision‐making, indeed, Simon’s rejection of the standard decision‐making models used in neoclassical economics inspired social scientists worldwide to develop research programmes in order to study decision‐making empirically. The main achievements concern decision‐making for individuals, firms, markets, governments, institutions, and, last but not least, science and research.

ECSM2015-Proceedings of the 2nd European Conference on Social Media 2015

Author : Dr Paula Peres
Publisher : Academic Conferences Limited
ISBN 13 : 1910810312
Total Pages : 686 pages
Book Rating : 4.9/5 (18 download)

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Book Synopsis ECSM2015-Proceedings of the 2nd European Conference on Social Media 2015 by : Dr Paula Peres

Download or read book ECSM2015-Proceedings of the 2nd European Conference on Social Media 2015 written by Dr Paula Peres and published by Academic Conferences Limited. This book was released on 2015-07-06 with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complete proceedings of the 2nd European Conference on Social Media Porto Portugal Published by Academic Conferences and Publishing International Limited

The Human Side of Service Engineering

Author : Christine Leitner , Walter Ganz , Clara Bassano and Debra Satterfield
Publisher : AHFE International
ISBN 13 : 1958651389
Total Pages : 457 pages
Book Rating : 4.9/5 (586 download)

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Book Synopsis The Human Side of Service Engineering by : Christine Leitner , Walter Ganz , Clara Bassano and Debra Satterfield

Download or read book The Human Side of Service Engineering written by Christine Leitner , Walter Ganz , Clara Bassano and Debra Satterfield and published by AHFE International. This book was released on 2022-07-24 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Human Side of Service Engineering Proceedings of the 13th International Conference on Applied Human Factors and Ergonomics (AHFE 2022), July 24–28, 2022, New York, USA

The Dark Side of Innovation

Author : Alex Coad
Publisher : Routledge
ISBN 13 : 1000544915
Total Pages : 134 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis The Dark Side of Innovation by : Alex Coad

Download or read book The Dark Side of Innovation written by Alex Coad and published by Routledge. This book was released on 2022-02-24 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a reaction to popular assumptions that innovation is always a force for good. While the popular press and politicians often take the view that "the more innovation, the better", the chapters in this edited volume reflect on the harmful effects of innovation on society and the environment. The book begins with a broad discussion of the dark side of innovation, followed by contributions by various experts in the area. It is a critical reply to the innovation optimists, complementing the list of indicators that show steady human progress with a list of indicators that show sustained deterioration (largely due to innovation). The volume outlines some relevant dimensions of harmful innovation, before distinguishing between the types of harm brought on by innovation. The various contributed chapters focus on the following themes: a bibliometric analysis of the scientific literature on the harmful consequences of innovation; harmful side-effects from solar photovoltaic waste; harmful consequences of process innovations on working practices in areas such as accountancy; the difficulties of transferring innovations from research to practice in clinical healthcare; and the harmful consequences of social innovations. The chapters in this book were originally published as a special issue of the journal Industry and Innovation.

Proceedings of the 4th International Conference: Quantitative and Qualitative Methodologies in the Economic & Administrative Sciences (I.C.Q.Q.M.E.A.S. 2015)

Download Proceedings of the 4th International Conference: Quantitative and Qualitative Methodologies in the Economic & Administrative Sciences (I.C.Q.Q.M.E.A.S. 2015) PDF Online Free

Author : Prof. Christos C. Frangos
Publisher : Christos Frangos
ISBN 13 : 9609873960
Total Pages : 360 pages
Book Rating : 4.6/5 (98 download)

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Book Synopsis Proceedings of the 4th International Conference: Quantitative and Qualitative Methodologies in the Economic & Administrative Sciences (I.C.Q.Q.M.E.A.S. 2015) by : Prof. Christos C. Frangos

Download or read book Proceedings of the 4th International Conference: Quantitative and Qualitative Methodologies in the Economic & Administrative Sciences (I.C.Q.Q.M.E.A.S. 2015) written by Prof. Christos C. Frangos and published by Christos Frangos. This book was released on 2015-05-22 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present Conference is the 4th of similar conferences with the same subject, which are organised of the Department of Business Administration. The Technological Educational Institution of Athens, is a Tertiary Educational Institution of Excellence with an impressive record in teaching and research and is sponsoring the present Conference. The purpose of our Conference is to present and publish the research output of, not only TEI of Athens, but all the Universities and Technological Institutions of Greece and the different Nations of the World. Another important purpose is to facilitate the interaction between two worlds: the world of Business and the world of Academic Community. The organizers of this Conference have the ambition to establish a forum for discussions on the theory and applications of the Quantitative and Qualitative Methods in the different business sectors such as Small to Medium Enterprises or large Companies in Industry, Commerce, Tourism, Health, Public Sector, Shipping Industry and financial services. The Conference has a Scientific Committee and all the papers have been examined by two anonymous referees. Selected papers will be published in internationally recognized journals. The Proceedings of the Conference have ISBN, ISSN numbers and they will appear, after the Conference in Google.

Mining Over Air: Wireless Communication Networks Analytics

Author : Ye Ouyang
Publisher : Springer
ISBN 13 : 3319923129
Total Pages : 201 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Mining Over Air: Wireless Communication Networks Analytics by : Ye Ouyang

Download or read book Mining Over Air: Wireless Communication Networks Analytics written by Ye Ouyang and published by Springer. This book was released on 2018-07-27 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces the concepts, applications and development of data science in the telecommunications industry by focusing on advanced machine learning and data mining methodologies in the wireless networks domain. Mining Over Air describes the problems and their solutions for wireless network performance and quality, device quality readiness and returns analytics, wireless resource usage profiling, network traffic anomaly detection, intelligence-based self-organizing networks, telecom marketing, social influence, and other important applications in the telecom industry. Written by authors who study big data analytics in wireless networks and telecommunication markets from both industrial and academic perspectives, the book targets the pain points in telecommunication networks and markets through big data. Designed for both practitioners and researchers, the book explores the intersection between the development of new engineering technology and uses data from the industry to understand consumer behavior. It combines engineering savvy with insights about human behavior. Engineers will understand how the data generated from the technology can be used to understand the consumer behavior and social scientists will get a better understanding of the data generation process.