Product and Service Management
_Poster: The Impact of the Sharing Economy on Firms and CitiesMar 12, 2020 Davide Proserpio, University of Southern California
Reviews can affect firms' economic outcomes such a sales and revenue; social media platforms are providing firms with new ways of reaching and advertising to consumers; and peer-to-peer platforms such as Airbnb and Uber–often referred to as the sharing economy–are creating a new type of competition for long-established industries such as the hotel and taxi industry.
How to Use the “4 Minds” Framework of Customer Decision Making for Business ImpactMar 04, 2020
Ryan Hamilton, Emory University
Emory University Professor Ryan Hamilton presents the "4 Minds" framework -- a practical tool for understanding and applying the science of decision making to better anticipate needs and serve customers.
Engineering Trust in Online MarketplacesFeb 27, 2020 Steve Tadelis, University of California, Berkeley
The success of online marketplaces is attributed not only to the ease in which buyers can find sellers, but also to the fact that they provide reputation and feedback systems that help facilitate trust.
Tuition Myopia: Myopic Focus on the Costs of Higher Education Induces Intertemporal TradeoffsJun 21, 2019 Haewon Yoon, Indiana University, Yang Yang, University of Florida, and Carey Morewedge, Boston University, 2019, 19-120-06
Is calculating lifetime ROI the right way to think about college costs? Six studies show that financially-impatient consumers prefer low-cost, low-return colleges over high-cost, high-return colleges, thus failing to maximize their lifetime earnings.
Last Place Aversion in QueuesMay 17, 2019 Ryan W. Buell, Harvard University, 2019, 19-118-05
Last-place aversion is consequential for customer satisfaction and firm profits - customers who are last in line are twice as likely to switch or renege from the queue. Queue transparency can help. So can "eliminating" last place - experimentally ensuring that no one ever perceived themselves to be in last place reduced defections by 43.5%.
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