5,024 research outputs found
Providing a Service for Interactive Online Decision Aids through Estimating Consumers\u27 Incremental Search Benefits
Consumer information search has been a focus of research nowadays, especially in the context of online business environments. One of the research questions is to determine how much information to search (i.e., when to stop searching), since extensive literature on behavior science has revealed that consumers often search either “too little” or “too much”, even with the help of existing interactive online decision aids (IODAs). In order to address this issue, this paper introduces a new approach to IODAs with effective estimation of the incremental search benefits. In doing so, the approach incorporates two important aspects into consideration, namely point estimation and distribution estimation, so as to make use of the relevant information by combining both current and historical facts in reflecting the behavioral patterns of the consumers in search. Moreover, experiments based on data provided by Netflix illustrate that the proposed approach is effective and advantageous over existing ones
PREDICTING CONSUMER INFORMATION SEARCH BENEFITS FOR PERSONALIZED ONLINE PRODUCT RANKING: A CONFIDENCE-BASED APPROACH
Product ranking mechanism is an important service for e-commerce that facilitates consumers’ decision-making process. This paper studies online product ranking under uncertainty. Different from previous studies that generally rank products merely based on predicted ratings, a new personalized product ranking method is proposed based on estimating consumer information search benefits and taking prediction uncertainty and confidence into consideration. Experiments using real data of movie ratings illustrate that the proposed method is advantageous over traditional point estimation methods, thus may help enhance customers’ satisfaction with the decision-making process and choices through saving their time and efforts
PREDICTING CONSUMER INFORMATION SEARCH BENEFITS FOR PERSONALIZED ONLINE PRODUCT RANKING: A CONFIDENCE-BASED APPROACH
Abstract: Product ranking mechanism is an important service for e-commerce that facilitates consumers' decision-making process. This paper studies online product ranking under uncertainty. Different from previous studies that generally rank products merely based on predicted ratings, a new personalized product ranking method is proposed based on estimating consumer information search benefits and taking prediction uncertainty and confidence into consideration. Experiments using real data of movie ratings illustrate that the proposed method is advantageous over traditional point estimation methods, thus may help enhance customers' satisfaction with the decision-making process and choices through saving their time and efforts
Determinants of online leisure travel planning decision processes :a segmented approach
D.B.A. ThesisThere is an abundance of information sources on the Internet that consumers use to plan
and book their travel. This information reflects the fact that travel comprises a significant
part of the business conducted through the web. Consumers are sometimes faced with a
complex task of making purchasing decisions in the dynamic and fast-paced medium of
the Internet. In spite of the importance of travel and the intricacies of the decision
process, an integrated framework that identifies the various determinants of the online
leisure travel planning decision process and how they interact, is largely absent in travel
literature. This study aims to make a contribution by extracting from relevant literature
useful elements that could comprise such a framework. It also uses several phases of
qualitative research to refine the framework, and then a quantitative assessment of data
collected from an online questionnaire completed by 1,198 respondents to test specific
components of the framework that deal with online travel booking intention.
In the final model building stage, three logistic regression models were compared. The
first is a parsimonious one containing key determinants that lead to online travel booking
intention. These determinants emerged from theoretical frameworks of the theory of
reasoned action and innovation adoption theory. The second Model used strictly
involvement, motivation, and knowledge variables that are thought to influence online
booking intention. The third Model included a combination of relevant predictor
variables from the other two Models.
The relationship between various demographics and online travel booking intention was
investigated yielding some interesting insights. Consequently, this study recommends
these demographic variables be considered in segmenting travelers to find those more
likely to book online.
The determinants of online leisure travel booking decision processes could be used in
conjunction with demographic variables to more accurately predict leisure travel website
usage
Using Transaction Utility Approach for Retail Format Decision
Transaction Utility theory was propounded by Thaler to explain that the value derived by a customer from an exchange consists of two drivers: Acquisition Utilities and Transaction utilities. Acquisition utility represents the economic gain or loss from the transaction. Where as transaction utility is associated with purchase or (sale) and represents the pleasure (or displeasure) of the financial deal per se and is a function of the difference between the selling price and the reference price. Choice of a format has been studied from several dimensions including the cost and effort as well as the non-monetary values. However, the studies that present the complete picture and combine the aspects of the tangible as well as intangible values derived out of the shopping process are limited. Most of the studies, all of them from the developed economies, have focussed on the selection of a store. They represent a scenario where formats have stabilised. However, in Indian scenario formats have been found to be influencing the choice of store as well as orientation of the shoppers. Also, retailers are experimenting with alternate format with differing success rates. The author has also not found a study that has applied this theory. It is felt that the Transactional Utility Theory may provide a suitable approach for making format decisions.
Cost-Effectiveness Analysis of Elective Cesarean Deliveries and Trial of Labor
Every year, one-third of the 4 million child-bearing women in the United States have a cesarean delivery. Of these, 91% have a repeat cesarean delivery with the birth of subsequent children. Cesarean deliveries account for more than half of childbirth-related hospitalization expenses totaling approximately 225 million per year. Limitations of the study pertain to HCUP data, cost-effectiveness analysis assumptions, physician idiosyncratic coding practices, and the effectiveness measure (LOS). The findings have implications for practice, research, and policy. In particular, the findings could be of interest to health-care providers counseling women about their choice for mode of delivery, policymakers interested in creating new systems that reduce health-care costs and increase patient engagement, and for researchers studying health-care payment reform
Linking Research and Policy: Assessing a Framework for Organic Agricultural Support in Ireland
This paper links social science research and agricultural policy through an analysis of support for organic agriculture and food. Globally, sales of organic food have experienced 20% annual increases for the past two decades, and represent the fastest growing segment of the grocery market. Although consumer interest has increased, farmers are not keeping up with demand. This is partly due to a lack of political support provided to farmers in their transition from conventional to organic production. Support policies vary by country and in some nations, such as the US, vary by state/province. There have been few attempts to document the types of support currently in place. This research draws on an existing Framework tool to investigate regionally specific and relevant policy support available to organic farmers in Ireland. This exploratory study develops a case study of Ireland within the framework of ten key categories of organic agricultural support: leadership, policy, research, technical support, financial support, marketing and promotion, education and information, consumer issues, inter-agency activities, and future developments. Data from the Irish Department of Agriculture, Fisheries and Food, the Irish Agriculture and Food Development Authority (Teagasc), and other governmental and semi-governmental agencies provide the basis for an assessment of support in each category. Assessments are based on the number of activities, availability of information to farmers, and attention from governmental personnel for each of the ten categories. This policy framework is a valuable tool for farmers, researchers, state agencies, and citizen groups seeking to document existing types of organic agricultural support and discover policy areas which deserve more attention
All that Glitters is not Gold: Understanding the Impacts of Platform Recommendation Algorithm Changes on Complementors in the Sharing Economy
Sharing platforms often leverage recommendation algorithms to reduce matching costs and improve buyer satisfaction. However, the economic impacts of different recommendation algorithms on the business operations of complementors remains unclear. This study uses natural quasi-experiments and proprietary data from a home-cooked food-sharing platform with two recommendation algorithms: word-of-mouth recommendation (WMR) and botler personalization recommendation (BPR). Results show the WMR negatively affects revenue while BPR has a positive effect. The contrast revenue effects have been attributed to capacity constraints for complementors and matching frictions for consumers. WMR encourages sellers to specialize in high-quality products but limits new product development. BPR promotes innovation to suit diverse customer tastes but may reduce quality. This reflects the exploration-exploitation trade-off: WMR exploits existing competences, while BPR explores new products to satisfy personal preferences. The authors discuss implications for how to utilize recommendation algorithms and artificial intelligence for the prosperity of sharing economy platforms
An integrated social network marketing metric for business-to-business SMEs
Social networks have been extensively studied in business-to-consumer (B2C) studies, but their effects in a business-to-business (B2B) marketing context are under-theorized. The study develops an integrated social network marketing metric (SNMM) for B2B small- and medium-sized enterprises (SMEs). Using the framework, the study establishes a theoretical link between behavioral reasoning theory (BRT) and marketing accountability theory (MAT). Data was collected from 254 B2B SME marketers in India through a structured questionnaire survey and semi-structured interviews. At first glance, the missing link between SME performance and SNMM appears to be time, knowledge, and financial resources. SMEs that embrace innovation, proactiveness, and risk-taking can benefit from social media technologies. Thus, social networking has a direct, positive effect on SME growth. The implications for B2B SMEs’ SNMM studies are also discussed. Furthermore, the rationality of B2B marketing metrics has a tremendous influence on business success. Although the study has found a positive impact of SNMM on B2B SMEs success, further research is needed
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The Economic Impact of Smoking and of Reducing Smoking Prevalence: Review of Evidence
BACKGROUND: Tobacco smoking is the cause of many preventable diseases and premature deaths in the UK and around the world. It poses enormous health- and non-health-related costs to the affected individuals, employers, and the society at large. The World Health Organization (WHO) estimates that, globally, smoking causes over US151 billion. 2. The costs of smoking notwithstanding, it produces some potential economic benefits. The economic activities generated from the production and consumption of tobacco provides economic stimulus. It also produces huge tax revenues for most governments, especially in high-income countries, as well as employment in the tobacco industry. Income from the tobacco industry accounts for up to 7.4% of centrally collected government revenue in China. Smoking also yields cost savings in pension payments from the premature death of smokers. 3. Smoking cessation measures could range from pharmacological treatment interventions to policy-based measures, community-based interventions, telecoms, media, and technology (TMT)-based interventions, school-based interventions, and workplace interventions. 4. The cost per life year saved from the use of pharmacological treatment interventions ranged between US1,450 and up to US2 to US500 and US16,400 to US2,000 and US150 and $540 per nonsmoking employee. Implementing smoke-free workplaces would also produce myriads of new quitters and reduce the amount of cigarette consumption, leading to cost savings in direct medical costs to primary health care providers. Workplace interventions are, however, likely to yield far greater economic benefits over the long term, as reduced prevalence will lead to a healthier and more productive workforce. CONCLUSIONS: We conclude that the direct costs and externalities to society of smoking far outweigh any benefits that might be accruable at least when considered from the perspective of socially desirable outcomes (i.e., in terms of a healthy population and a productive workforce). There are enormous differences in the application and economic measurement of smoking cessation measures across various types of interventions, methodologies, countries, economic settings, and health care systems, and these may have affected the comparability of the results of the studies reviewed. However, on the balance of probabilities, most of the cessation measures reviewed have not only proved effective but also cost effective in delivering the much desired cost savings and net gains to individuals and primary health care providers
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