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Digitization and Pre-Purchase Information : The Causal and Welfare Impacts of Reviews and Crowd Ratings
Xie, Claire - 2020
Digitization has led to product proliferation, straining traditional institutions for product discovery; but digitization has also spawned crowd-based rating systems. We compare the relative impacts of professional critics and crowd-based Amazon star ratings on consumer welfare in book...
Persistent link: https://www.econbiz.de/10012840849
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The Effect of Word of Mouth on Sales : Online Book Reviews
Chevalier, Judith A.; Mayzlin, Dina - 2021
We examine the effect of consumer reviews on relative sales of books on Amazon.com and BarnesandNoble.com. We find that 1) reviews are overwhelmingly positive at both sites, but there are more reviews and longer reviews at Amazon.com, 2) an improvement in a book's reviews leads to an increase in...
Persistent link: https://www.econbiz.de/10013237283
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Does High Frequency Social Media Data Improve Forecasts of Low Frequency Consumer Confidence Measures?
Lehrer, Steven F. - 2019
Social media data presents challenges for forecasters since one must convert text into data and deal with issues related to these measures being collected at different frequencies and volumes than traditional financial data. In this paper, we use a deep learning algorithm to measure sentiment...
Persistent link: https://www.econbiz.de/10012858409
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The Information Value of Online Social Networks : Lessons from Peer-to-Peer Lending
Freedman, Seth - 2014
We examine whether social networks facilitate online markets using data from a leading peer-to-peer lending website. We find that borrowers with social ties are consistently more likely to have their loans funded and receive lower interest rates; however, most borrowers with social ties are more...
Persistent link: https://www.econbiz.de/10013060682
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Some Simple Economics of Crowdfunding
Agrawal, Ajay K. - 2014
It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to high levels of...
Persistent link: https://www.econbiz.de/10013063674
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Do Pharmacists Buy Bayer? Informed Shoppers and the Brand Premium
Bronnenberg, Bart J. - 2014
suggest that misinformation and related consumer mistakes explain a sizable share of the brand premium for health products …
Persistent link: https://www.econbiz.de/10013050309
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Brand Loyalty, Generic Entry and Price Competition in Pharmaceuticals in the Quarter Century after the 1984 Waxman-Hatch Legislation
Berndt, Ernst R. - 2014
. Recent studies sponsored by the American Association of Retired Persons focus only on brand prices and ignore substitution to …
Persistent link: https://www.econbiz.de/10013069176
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The Evolution of Brand Preferences : Evidence from Consumer Migration
Bronnenberg, Bart J. - 2010
We study the long-run evolution of brand preferences, using new data on consumers' life histories and purchases of … advertising. Heterogeneity in brand preferences explains 40 percent of geographic variation in market shares. These preferences … years in the past still exerting a significant effect on current consumption. Counterfactuals suggest that brand preferences …
Persistent link: https://www.econbiz.de/10013139281
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The Intergenerational Transmission of Automobile Brand Preferences : Empirical Evidence and Implications for Firm Strategy
Anderson, Soren - 2013
We document a strong correlation in the brand of automobile chosen by parents and their adult children, using data from … the Panel Study of Income Dynamics. This correlation could represent transmission of brand preferences across generations …, or it could result from correlation in family characteristics that determine brand choice. We present a variety of …
Persistent link: https://www.econbiz.de/10013074296
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Insurance Decision-Making for Rare Events : The Role of Emotions
Kunreuther, Howard - 2015
This paper describes the results of a web-based multi-period insurance purchasing experiment focusing on how individuals make insurance choices for low-probability, high-consequence events. Participants were told the probability and resulting losses of a hurricane occurring and were informed...
Persistent link: https://www.econbiz.de/10013029548