Related papers: An experiment in price perception error
This article investigates the fundamental factors influencing the rate and manner of Electoral participation with an economic model-based approach. In this study, the structural parameters affecting people's decision making are divided into…
Pricing decisions stand out as one of the most critical tasks a company faces, particularly in today's digital economy. As with other business decision-making problems, pricing unfolds in a highly competitive and uncertain environment.…
Climate (change) affects the prices of goods and services in different countries or regions differently. Simply relying on aggregate measures or summary statistics, such as the impact of average country temperature changes on HICP headline…
An important use of machine learning is to learn what people value. What posts or photos should a user be shown? Which jobs or activities would a person find rewarding? In each case, observations of people's past choices can inform our…
Factorial designs are frequently used in different fields of science, e.g. psychological, medical or biometric studies. Standard approaches, as the ANOVA $F$-test, make different assumptions on the distribution of the error terms, the…
We consider hundreds of thousands of individual economic transactions to ask: how predictable are consumers in their merchant visitation patterns? Our results suggest that, in the long-run, much of our seemingly elective activity is…
In online marketplaces, customers have access to hundreds of reviews for a single product. Buyers often use reviews from other customers that share their type -- such as height for clothing, skin type for skincare products, and location for…
Firms are more likely to introduce products in markets where they anticipate stronger demand. They also possess information that is unobserved to researchers. This creates endogenous selection bias in the estimation of demand parameters.…
Voting online with explicit ratings could largely reflect people's preferences and objects' qualities, but ratings are always irrational, because they may be affected by many unpredictable factors like mood, weather, as well as other…
Understanding citizens' values in participatory systems is crucial for citizen-centric policy-making. We envision a hybrid participatory system where participants make choices and provide motivations for those choices, and AI agents…
Given a batch of human computation tasks, a commonly ignored aspect is how the price (i.e., the reward paid to human workers) of these tasks must be set or varied in order to meet latency or cost constraints. Often, the price is set…
Online reviews provided by consumers are a valuable asset for e-Commerce platforms, influencing potential consumers in making purchasing decisions. However, these reviews are of varying quality, with the useful ones buried deep within a…
Recommender systems have gained increasing attention to personalise consumer preferences. While these systems have primarily focused on applications such as advertisement recommendations (e.g., Google), personalized suggestions (e.g.,…
In continuous-choice settings, consumers decide not only on whether to purchase a product, but also on how much to purchase. Thus, firms optimize a full price schedule rather than a single price point. This paper provides a methodology to…
Visual information plays a critical role in human decision-making process. While recent developments on visually-aware recommender systems have taken the product image into account, none of them has considered the aesthetic aspect. We argue…
Data generated by users on digital platforms are a crucial resource for advocates and researchers interested in uncovering digital inequities, auditing algorithms, and understanding human behavior. Yet data access is often restricted. How…
This research study examined how the number of reviews, review scores product involvement, and product review valence affect consumers' shopping decisions. Specifically, two online experiments were conducted to examine how product review…
Berkson errors are commonplace in empirical microeconomics. In consumer demand this form of measurement error occurs when the price an individual pays is measured by the (weighted) average price paid by individuals in a specified group…
Economic hardships significantly affect public perception and voting intentions in general elections. The primary focus of my study is to capture the degree of influence that individual economic hardships have on their voting. I utilize the…
Product personalization opens the door to price discrimination. A rich product line allows firms to better tailor products to consumers' tastes, but the mere choice of a product carries valuable information about consumers that can be…