ERN: Search最新文献_第4页

An Economist and a Psychologist Form a Line: What Can Imperfect Perception of Length Tell Us About Stochastic Choice? 一位经济学家和一位心理学家排成一行:对长度的不完美感知能告诉我们关于随机选择的什么?

ERN: Search Pub Date : 2020-02-01 DOI: 10.2139/ssrn.3566964

Sean Duffy, John Smith

{"title":"An Economist and a Psychologist Form a Line: What Can Imperfect Perception of Length Tell Us About Stochastic Choice?","authors":"Sean Duffy, John Smith","doi":"10.2139/ssrn.3566964","DOIUrl":"https://doi.org/10.2139/ssrn.3566964","url":null,"abstract":"Standard choice experiments are hampered by the fact that utility is either unknown or imperfectly measured by experimenters. As a consequence, the inferences available to researchers are limited. By contrast, we design a choice experiment where the objects are valued according to only a single attribute with a continuous measure and we can observe the true preferences of subjects. Subjects have an imperfect perception of the choice objects but can improve the precision of their perception with cognitive effort. Subjects are given a choice set involving several lines of various lengths and are told to select one of them. They strive to select the longest line because they are paid an amount that increases with the length of their choice. Our design allows us to observe the search history, the response times, and make unambiguous conclusions about the optimality of choices. We find a negative relationship between the demanding nature of the choice problems and the likelihood that subjects select the optimal lines. We also find a positive relationship between the demanding nature of the choice problems and the response times. However, we find evidence that suboptimal choices are associated with longer response times than are optimal choices. This result appears to be consistent with Fudenberg, Strack, and Strzalecki (2018). Additionally, our experimental design permits a multinomial discrete choice analysis. Our results suggest that the errors in our data are better described as having a Gumbel distribution rather than a normal distribution. We also observe effects consistent with memory decay and attention. Finally, we find evidence that choices in our experiment exhibit the independence from irrelevant alternatives (IIA) property.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114985718","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Optimal Sequential Search 最优顺序搜索

ERN: Search Pub Date : 2020-01-31 DOI: 10.2139/ssrn.3530526

Michael Choi, Lones Smith

引用次数: 0

Stable Matching Algorithm with Indifferent Preferences in Australian Housing Market: Application of RSD-SR Coupled with TTC 澳大利亚住房市场中无差异偏好的稳定匹配算法:RSD-SR与TTC耦合的应用

ERN: Search Pub Date : 2019-12-28 DOI: 10.2139/ssrn.3510680

N. Mammadova

引用次数: 0

Reconciling the Paradoxical Findings of Choice Overload Through an Analytical Lens 从分析的角度调和选择过载的矛盾结果

ERN: Search Pub Date : 2019-12-18 DOI: 10.25300/misq/2021/16954

Nan Zhang, Heng Xu

{"title":"Reconciling the Paradoxical Findings of Choice Overload Through an Analytical Lens","authors":"Nan Zhang, Heng Xu","doi":"10.25300/misq/2021/16954","DOIUrl":"https://doi.org/10.25300/misq/2021/16954","url":null,"abstract":"Too much of a good thing can be harmful. Choice overload, a compelling paradox in consumer psychology, exemplifies this notion with the idea that offering more product options could impede rather than improve consumer satisfaction, even when consumers are free to ignore any available option. After attracting intense interest in the past decades from multiple disciplines, research on choice overload has produced voluminous yet paradoxical findings that are widely perceived as inconsistent even at the meta-analytic level. This paper launches an interdisciplinary inquiry to resolve the inconsistencies on both the conceptual and empirical fronts. Specifically, we identified a surprising butrobust pattern among the existing empirical evidence for the choiceoverload effect and demonstrated through mathematical analysis and extensive simulation studies that the pattern would only likely emerge from one specific type of latent mechanism underlying the moderated choiceoverload effect. The paper discusses the research and practical implications of our findings—namely, the broad promise of analytical meta-analysis (an emerging area for the use of data analytics) and machine learning to address the widely recognized inconsistencies in social and behavioral sciences, and the unique and salient role of the information systems community in developing this new era of meta-analysis.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122187494","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Optimal Search and Awareness Expansion 最佳搜索和意识扩展

ERN: Search Pub Date : 2019-11-18 DOI: 10.2139/ssrn.3489765

R. Greminger

引用次数: 2

On Uniform Boundedness of Sequential Social Learning 序贯社会学习的一致有界性研究

ERN: Search Pub Date : 2019-11-12 DOI: 10.2139/ssrn.3621481

Itay Kavaler

引用次数: 0

Absent Agency Problems, Can Conflict Emerge between a Pre-Existing Angel Investor, and an Entering Venture Capitalist? 如果没有代理问题，已经存在的天使投资人和进入的风险投资人之间会发生冲突吗?

ERN: Search Pub Date : 2019-11-12 DOI: 10.2139/ssrn.3485832

Oghenovo A. Obrimah

{"title":"Absent Agency Problems, Can Conflict Emerge between a Pre-Existing Angel Investor, and an Entering Venture Capitalist?","authors":"Oghenovo A. Obrimah","doi":"10.2139/ssrn.3485832","DOIUrl":"https://doi.org/10.2139/ssrn.3485832","url":null,"abstract":"Suppose absence of agency problems in interactions between a representative angel investor who already is invested in a project (a 'pre-existing' angel investor), and a representative `entering' venture capitalist who provides a new infusion of capital into the same project. This study finds that there exist conditions in context of which conflict emerges, and this with possibility of nigh certainty, between the angel investor, and the venture capitalist (VC). Let the 'conditional relative skewness' for a project be evident in the specific location of the project in the distribution of conditional skewness accruing to all projects that are located in the investment opportunity set of the pre-existing angel investor. Conditional on transformation of a project to a higher risk project by an entering VC, the probability of emergence of legitimate conflict is a decreasing function of conditional relative skewness. Refer to this probability as the 'risk-induced probability of conflict'. The risk-induced probability of conflict increases with the extent to which the entering VC is characterized by either of preference for lotteries, or 'information myopia', and asymptotically approaches one. The general equilibrium model shows maintenance of the risk profile that was established prior to participation of the VC ensures non-emergence of conflict between the entering VC, and the pre-existing angel investor.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115378037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Effect of Voice AI on Consumer Purchase and Search Behavior 语音人工智能对消费者购买和搜索行为的影响

ERN: Search Pub Date : 2019-10-25 DOI: 10.2139/ssrn.3480877

Chenshuo Sun, Z. Shi, Xiao Liu, A. Ghose, Xueying Li, Feiyu Xiong

{"title":"The Effect of Voice AI on Consumer Purchase and Search Behavior","authors":"Chenshuo Sun, Z. Shi, Xiao Liu, A. Ghose, Xueying Li, Feiyu Xiong","doi":"10.2139/ssrn.3480877","DOIUrl":"https://doi.org/10.2139/ssrn.3480877","url":null,"abstract":"Voice-activated shopping devices (voice AI), such as Amazon’s Alexa or Alibaba’s Tmall Genie, as a new channel for shopping, are gaining popularity among consumers worldwide. It has become important, therefore, to understand how voice AI adoption affects consumer shopping behaviors. In this paper, we use large-scale archival data containing consumer-level browsing and purchase records from one of the world’s largest online retailer, Alibaba, who has developed and launched its own voice AI product called Tmall Genie to empirically identify our results. The results show that consumers on average spend 23% more and browse 11% more as a result of adopting the voice AI, corresponding to approximately US$ 613 million increase in sales revenue and 12.7 billion more pageviews every year. The effect on purchase is stronger for younger consumers and male, whereas the effect on browsing is more salient for elder consumers and female. We also find that although the positive effect on purchases and pageviews shrink over time, it still remains significant and large after eight weeks. Moreover, the voice channel does not cannibalize other purchase channels (PC and mobile); rather, it has a positive spillover effect on the mobile channel. Lastly, the impact of voice AI adoption on purchase is stronger for products that do not require active search or comparison, such as product categories with low substitutability or high purchase frequency. To summarize, we demonstrate that the adoption of voice AI has enhanced the growth of the digital sales market in the world’s largest e-commerce platform. The findings provide useful implications for both e-commerce companies and businesses that harness voice-assisted shopping.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130585234","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15

When is Society Susceptible to Manipulation? 什么时候社会容易受到操纵?

ERN: Search Pub Date : 2019-10-23 DOI: 10.2139/ssrn.3474643

Mohamed Mostagir, A. Ozdaglar, James Siderius

引用次数: 21

Absent Imposition of 'Boundary Rationality Conditions', Can Evidence for Pricing of Behavioral Biases of Economic Agents Be Robust? 没有强加“边界理性条件”，经济主体行为偏差定价的证据是否可靠?

ERN: Search Pub Date : 2019-10-20 DOI: 10.2139/ssrn.3472656

Oghenovo A. Obrimah

{"title":"Absent Imposition of 'Boundary Rationality Conditions', Can Evidence for Pricing of Behavioral Biases of Economic Agents Be Robust?","authors":"Oghenovo A. Obrimah","doi":"10.2139/ssrn.3472656","DOIUrl":"https://doi.org/10.2139/ssrn.3472656","url":null,"abstract":"This study unambiguously demonstrates that, absent independent establishment of boundary rationality conditions for stock prices, behavioral axioms, such as overconfidence, overreaction, underreaction, and attribution bias cannot be robustly applied to rationalization of market phenomena that are generated by rational economic agents. This general equilibrium outcome is predicated on predictions of a formal theoretical model. In the model, whenever behavioral biases feasibly can influence market returns, qualitatively, such effects cannot be distinguished from presence, in stock markets, of mixtures of 'sophisticated' and 'naive' economic agents. In this respect, the model establishes that any of, rational components of stock prices, information variables that support presence of mixtures of sophisticated and naive agents within stock markets, or behavioral biases, have feasibility of generation of pattern of stock return momentum and reversals. An important side result is the prediction that behavioral axioms, such as overreaction, and underreaction, which of necessity must have opposite effects on prices, cannot subsist contemporaneously within dichotomous groupings of rational economic agents who invest in stock markets.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114677487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2