Related papers: Measuring and Optimizing Cultural Markets
Social influence is ubiquitous in cultural markets, from book recommendations in Amazon, to song popularities in iTunes and the ranking of newspaper articles in the online edition of the New York Times to mention only a few. Yet social…
Individuals are often influenced by the behavior of others, for instance because they wish to obtain the benefits of coordinated actions or infer otherwise inaccessible information. In such situations this social influence decreases the ex…
In social, economic and cultural situations in which the decisions of individuals are influenced directly by the decisions of others, there appears to be an inherently high level of ex ante unpredictability. In cultural markets such as…
This work is concerned with the dynamics of online cultural markets, namely, attention allocation of many users on a set of digital goods with infinite supply. Such dynamic is important in shaping processes and outcomes in society, from…
Social interactions and personal tastes shape our consumption behavior of cultural products. In this study, we present a computational model of a cultural market and we aim to analyze the behavior of the consumer population as an emergent…
We propose a simple model of an idealized online cultural market in which $N$ items, endowed with a hidden quality metric, are recommended to users by a ranking algorithm possibly biased by the current items' popularity. Our goal is to…
Motivated by applications in retail, online advertising, and cultural markets, this paper studies how to find the optimal assortment and positioning of products subject to a capacity constraint. We prove that the optimal assortment and…
A quantitative understanding of societies requires useful combinations of empirical data and mathematical models. Models of cultural dynamics aim at explaining the emergence of culturally homogeneous groups through social influence.…
Consumer behavior under social influence is a well-known phenomenon and computer scientists and economists are prevalently trying to analyze the dynamics behind decision making during the consumption process through agent-based modeling…
Recently the influence maximization problem has received much attention for its applications on viral marketing and product promotions. However, such influence maximization problems have not taken into account the monetary effect on the…
Targeted marketing policies target different customers with different marketing actions. While most research has focused on training targeting policies without managerial constraints, in practice, many firms face managerial constraints when…
Personalized pricing is a business strategy to charge different prices to individual consumers based on their characteristics and behaviors. It has become common practice in many industries nowadays due to the availability of a growing…
Algorithms that favor popular items are used to help us select among many choices, from engaging articles on a social media news feed to songs and books that others have purchased, and from top-raked search engine results to highly-cited…
Influence maximization is the problem of finding a set of influential users in a social network such that the expected spread of influence under a certain propagation model is maximized. Much of the previous work has neglected the important…
Information diffusion and influence maximization are important and extensively studied problems in social networks. Various models and algorithms have been proposed in the literature in the context of the influence maximization problem. A…
We consider the problem of devising incentive strategies for viral marketing of a product. In particular, we assume that the seller can influence penetration of the product by offering two incentive programs: a) direct incentives to…
Prediction markets are powerful tools to elicit and aggregate beliefs from strategic agents. However, in current prediction markets, agents may exhaust the social welfare by competing to be the first to update the market. We initiate the…
It is very common to observe crowds of individuals solving similar problems with similar information in a largely independent manner. We argue here that crowds can become "smarter," i.e., more efficient and robust, by partially following…
The influence maximization is the problem of finding a set of social network users, called influencers, that can trigger a large cascade of propagation. Influencers are very beneficial to make a marketing campaign goes viral through social…
A decision maker typically (i) incorporates training data to learn about the relative effectiveness of treatments, and (ii) chooses an implementation mechanism that implies an ``optimal'' predicted outcome distribution according to some…