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This paper develops a practical framework for using observational data to audit the consumer surplus effects of AI-driven decisions, specifically in targeted pricing and algorithmic lending. Traditional approaches first estimate demand…
This paper provides a framework to quantify the sensitivity associated with behavioral models based on Cumulative Prospect Theory (CPT). These are used to design dynamic pricing strategies aimed at maximizing performance metrics of the…
[Purpose] To better understand the online reviews and help potential consumers, businessmen, and product manufacturers effectively obtain users' evaluation on product aspects, this paper explores the distribution regularities of user…
The usage of recommendation agents (RAs) in the online marketplace can help consumers to locate their desired products. RAs can help consumers effectively obtain comprehensive product information and compare their candidate target products.…
We study generalizations of online bipartite matching in which each arriving vertex (customer) views a ranked list of offline vertices (products) and matches to (purchases) the first one they deem acceptable. The number of products that the…
In this paper, we examine the effectiveness of various recommendation strategies in the mobile channel and their impact on consumers' utility and demand levels for individual products. We find significant differences in effectiveness among…
Though the studies of social contagions are regularly borrowing network models to study the propagation of social influences and opinions to include social heterogeneity. Such studies provide valuable insights regarding these, but the…
We discuss the influence of information contagion on the dynamics of choices in social networks of heterogeneous buyers. Starting from an inhomogeneous cellular automata model of buyers dynamics, we show that when agents try to adjust their…
Recommender systems operate in an inherently dynamical setting. Past recommendations influence future behavior, including which data points are observed and how user preferences change. However, experimenting in production systems with real…
A large number of empirical studies on applying self-attention models in the domain of recommender systems are based on offline evaluation and metrics computed on standardized datasets, without insights on how these models perform in real…
We address the challenging problem of dynamically pricing complementary items that are sequentially displayed to customers. An illustrative example is the online sale of flight tickets, where customers navigate through multiple web pages.…
When tracking user-specific online activities, each user's preference is revealed in the form of choices and comparisons. For example, a user's purchase history is a record of her choices, i.e. which item was chosen among a subset of…
Many online marketplaces personalize prices based on consumer attributes. Since these prices are private, consumers may be unaware that they have spent more on a good than the lowest possible price, and cannot easily take action to pay…
We study a dynamic market setting where an intermediary interacts with an unknown large sequence of agents that can be either sellers or buyers: their identities, as well as the sequence length $n$, are decided in an adversarial, online…
The introduction of new payment methods has resulted in one of the most significant changes in the way we consume goods and services. In this paper, I present results of a field and a laboratory experiment designed to determine the effect…
Omnichannel retailing, a new form of distribution system, seamlessly integrates the Internet and physical stores. This study considers the pricing and fulfillment strategies of a retailer that has two sales channels: online and one physical…
This study employs a Bayesian Probit model to empirically analyze peer effects and herd behavior among consumers during the "Double 11" shopping festival, using data collected through a questionnaire survey. The results demonstrate that…
We introduce a stochastic heterogeneous interacting-agent model for the short-time non-equilibrium evolution of excess demand and price in a stylized asset market. We consider a combination of social interaction within peer groups and…
We consider revenue maximization in online auction/pricing problems. A seller sells an identical item in each period to a new buyer, or a new set of buyers. For the online posted pricing problem, we show regret bounds that scale with the…
The proliferation of e-commerce has made web shopping platforms key gateways for customers navigating the vast digital marketplace. Yet this rapid expansion has led to a noisy and fragmented information environment, increasing cognitive…