Because implied volatility is essential for pricing options, analyzing derivative strategies and measuring risk in investment portfolios containing derivatives, understanding variations in implied volatility also becomes vital. Aside from a secular trend, volatility clustering and calendar...

While many consumers rely heavily on online reviews during their purchases, it is unrealistic to expect a consumer to read every online review and make an informed decision. Many online review systems provide summary views in the form of overall sentiment scores or rating distributions (e.g.,...

Where can we get good ideas with low cost? Recent researchers probably would suggest “the crowd.” Indeed, crowdsourcing has increasingly been the easiest and most inexpensive method to gain creative/innovative ideas. With the current or potential shortage of R&D resources, firms are...

How does emotional expression in online reviews affect sales? To answer this question, a model is constructed based on theories of sentiment. This model is tested experimentally. Controlling for online review valence online review emotionality affects product sales. The impact is moderated by...