相关论文: Truly Costly Search and Word-of-Mouth Communicatio…

Consumers can acquire information through their own search efforts or through their social network. Information diffusion via word-of-mouth communication leads to some consumers free-riding on their "friends" and less information…

We study the ramifications of increased commitment power for information provision in an oligopolistic market with search frictions. Although prices are posted and, therefore, guide search, if firms cannot commit to information provision…

We modify the standard model of price competition with horizontally differentiated products, imperfect information, and search frictions by allowing consumers to flexibly acquire information about a product's match value during their…

In the following work, we compare the spread of information by word-of-mouth (WOM) to the spread of information through search engines. We assume that the initial acknowledgement of new information derives from social interactions but that…

Many studies have explored spreading and diffusion through complex networks. The following study examines a specific case of spreading of opinions in modern society through two spreading schemes, defined as being either through…

We study the optimal referral strategy of a seller and its relationship with the type of communication channels among consumers. The seller faces a partially uninformed population of consumers, interconnected through a directed social…

Advancements in service sector and growing online platforms are intensifying the information exchange between customers through (electronic) word-of-mouth (WoM). The information obtained by WoM has shown to be a dominant factor in…

We consider a model of oligopolistic competition in a market with search frictions, in which competing firms with products of unknown quality advertise how much information a consumer's visit will glean. In the unique symmetric equilibrium…

Word-of-Mouth (WoM) communication, via online reviews, plays an important role in customers' purchasing decisions. As such, retailers must consider the impact of WoM to manage customer perceptions and future demand. In this paper, we…

Nowadays online social networks are used extensively for personal and commercial purposes. This widespread popularity makes them an ideal platform for advertisements. Social media can be used for both direct and word-of-mouth (WoM)…

Word of mouth is a process by which consumers transmit positive or negative sentiment to other consumers about a business. While this process has long been recognized as a type of promotion for businesses, the value of word of mouth is…

As compared to the traditional advertising, the word-of-mouth (WOM) communications have striking advantages such as significantly lower cost and rapid delivery; this is especially the case with the popularity of online social networks. This…

The emergence of online communities has enabled firms to monitor consumer-generated online word-of-mouth (WOM) in real-time by mining publicly available information from the Internet. A prerequisite for harnessing this new ability is the…

This paper examines competitive information disclosure in search markets with a mix of savvy consumers, who search costlessly, and inexperienced consumers, who face positive search costs. Savvy consumers incentivize truthful disclosure;…

I present evidence that communication between marketplace participants is an important influence on market demand. I find that consumer demand is approximately equally influenced by communication on both formal and informal networks-…

In many markets buyers are poorly informed about which firms sell the product (product availability) and prices, and therefore have to spend time to obtain this information. In contrast, sellers typically have a better idea about which…

When introducing a novel product, a seller sets a price and decides how much information to provide to a buyer, who may incur a search cost to discover an outside option. The buyer knows the outside option distribution; the seller knows…

Word-of-Mouth refers to the dynamics of interpersonal communication occurring during the diffusion of innovations (novel practices, ideas or products). According to field studies, word-of-mouth is made of both information seeking and…

Consumers often resort to third-party information such as word of mouth, testimonials and reviews to learn more about the quality of a new product. However, it may be difficult for consumers to assess the precision of such information. We…

Consumers in many markets are uncertain about firms' qualities and costs, so buy based on both the price and the quality inferred from it. Optimal pricing depends on consumer heterogeneity only when firms with higher quality have higher…