This paper develops and offers the theory of embodied social presence (ESP). The paper reviews the literature on place and space, presence, and embodiment and demonstrates that the role of the body as a focal point for action during social interaction in multi-user virtual environments has been...

This chapter examines how the original tenets of the affect-as-information hypothesis can be extended to explain a wide range of judgment phenomena, especially with respect to consumer decision making. To this end, research within social psychology as well as research from other fields such as...

The growth of the Internet has led to a dramatic increase in the number of consumer or "user" product ratings, which are posted online by individuals who have consumed a good, and are available to other individuals as they make decisions about which products to purchase. These ratings have the...

Today’s world faces many challenges that may be solved by using the principles of bioeconomy. Bioeconomy has had a multi-disciplinary approach with the objective of an integrated scope, namely, to achieve sustainable development. In a knowledge-based economy, the link between sustainable...

We examine the profitability of personalized pricing policies that are derived using different specifications of demand in a typical retail setting with consumer-level panel data. We generate pricing policies from a variety of models, including Bayesian hierarchical choice models, regularized...

A consumer's decision to engage in search depends on the beliefs the consumer has about an unknown product characteristic such as price. Given beliefs are rarely observed, researchers typically assume that consumers have rational expectations or update beliefs consistent with Bayesian updating....

Consumers commonly seek information from critic and consumer reviews when new product quality remains uncertain. However, consumer reviews are endogenous and may be subject to potential biases (e.g., self-selection). In this paper, we propose a new dynamic structural model where forward-looking...

In recent years there has been a growing stream of literature in marketing and economics that models consumers as Bayesian learners. Such learning behavior is often embedded within a discrete choice framework which is then calibrated on scanner panel data. At the same time it is now accepted...

Trends in arts and culture tend to be longer-lasting and less fragile than in other fields such as clothing design. Most herding models are not able to explain such stability, instead predicting informational cascades to be fragile and fads to be frequent. The present contribution is able to...