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Branded lives : the production and consumption of meaning at work
\"Branded Lives explores the increasingly popular concept of employee branding as a new form of employment relationship based on brand representation. In doing so it examines the ways in which the production and consumption of meaning at work are increasingly mediated by the brand. This insightful collection draws on qualitative empirical studies in a range of contexts to include services, retail and manufacturing organizations\"--Page 4 of cover.
Book
A fast and robust convolutional neural network-based defect detection model in product quality control
The fast and robust automated quality visual inspection has received increasing attention in the product quality control for production efficiency. To effectively detect defects in products, many methods focus on the hand-crafted optical features. However, these methods tend to only work well under specified conditions and have many requirements for the input. So the work in this paper targets on building a deep model to solve this problem. The elaborately designed deep convolutional neural networks (CNN) proposed by us can automatically extract powerful features with less prior knowledge about the images for defect detection, while at the same time is robust to noise. We experimentally evaluate this CNN model on a benchmark dataset and achieve a fast detection result with a high accuracy, surpassing the state-of-the-art methods.
Journal Article
Product and Pricing Decisions in Crowdfunding
This paper studies the optimal product and pricing decisions in a crowdfunding mechanism by which a project between a creator and many buyers will be realized only if the total funds committed by the buyers reach a specified goal. When the buyers are sufficiently heterogeneous in their product valuations, the creator should offer a line of products with different levels of product quality. Compared to the traditional situation where orders are placed and fulfilled individually, with the crowdfunding mechanism, a product line is more likely than a single product to be optimal and the quality gap between products is smaller. This paper also shows the effect of the crowdfunding mechanism on pricing dynamics over time. Together, these results underscore the substantial influence of the emerging crowdfunding mechanisms on common marketing decisions.
Journal Article
Product-Line Design in the Presence of Consumers’ Anticipated Regret
Consumers are often uncertain about their valuations for product quality when choosing among different products and will learn their valuations only after buying and using a product. Some consumers may thus experience overpurchase or underpurchase regret, depending on whether they have purchased a higher- or lower-quality level than what they would have chosen had they known their true valuations. When consumers anticipate their potential postpurchase regret, their purchase decisions may be affected. Our analysis shows that overpurchase regret lowers the firm’s profit, but underpurchase regret can benefit the firm if consumers’ overpurchase regret is not strong. When the firm optimally designs its product line, the quality difference between its offerings will be larger (smaller) if consumers’ anticipated regret increases (reduces) its profit. Surprisingly, although anticipated regret tends to reduce consumers’ utility, in equilibrium, the presence of anticipated regret can increase consumers’ expected surplus. We further examine when the firm should allow consumers to return their products by paying a restocking fee and how the optimal restocking fee will change with consumers’ propensities for the two types of regret. We also experimentally show that consumers’ propensities of underpurchase and overpurchase regret are different and can be influenced by the firm’s messages.
This paper was accepted by Juanjuan Zhang, marketing
.
Journal Article
Social Learning and the Design of New Experience Goods
Consumers often consult the reviews of their peers before deciding whether to purchase a new experience good; however, their initial quality expectations are typically set by the product’s observable attributes. This paper focuses on the implications of social learning for a monopolist firm’s choice of product design. In our model, the firm’s design choice determines the product’s ex ante expected quality, and designs associated with (stochastically) higher quality incur higher costs of production. Consumers are forward-looking social learners, and may choose to strategically delay their purchase in anticipation of product reviews. In this setting, we find that the firm’s optimal policy differs significantly depending on the level of the ex ante quality uncertainty surrounding the product. In comparison to the case where there is no social learning, we show that (i) when the uncertainty is relatively low, the firm opts for a product of inferior design accompanied by a lower price, while (ii) when the uncertainty is high, the firm chooses a product of superior design accompanied by a higher price; interestingly, we find that the product’s expected quality decreases either in the absolute sense (in the former case), or relative to the product’s price (in the latter case). We further establish that, contrary to conventional knowledge, social learning can have an ex ante negative impact on the firm’s profit, in particular when the consumers are sufficiently forward-looking. Conversely, we find that the presence of social learning tends to be beneficial for the consumers only provided they are sufficiently forward-looking.
This paper was accepted by Serguei Netessine, operations management.
Journal Article
Promotional Reviews: An Empirical Investigation of Online Review Manipulation
Firms'incentives to manufacture biased user reviews impede review usefulness. We examine the differences in reviews for a given hotel between two sites: Expedia. com (only a customer can post a review) and TripAdvisor. com (anyone can post). We argue that the net gains from promotional reviewing are highest for independent hotels with single-unit owners and lowest for branded chain hotels with multiunit owners. We demonstrate that the hotel neighbors of hotels with a high incentive to fake have more negative reviews on TripAdvisor relative to Expedia; hotels with a high incentive to fake have more positive reviews on TripAdvisor relative to Expedia.
Journal Article
How Does the Variance of Product Ratings Matter?
This paper examines the informational role of product ratings. We build a theoretical model in which ratings can help consumers figure out how much they would enjoy the product. In our model, a high average rating indicates a high product quality, whereas a high variance of ratings is associated with a niche product, one that some consumers love and others hate. Based on its informational role, a higher variance would correspond to a higher subsequent demand if and only if the average rating is low. We find empirical evidence that is consistent with the theoretical predictions with book data from Amazon.com and BN.com. A higher standard deviation of ratings on Amazon improves a book's relative sales rank when the average rating is lower than 4.1 stars, which is true for 35% of all the books in our sample.
This paper was accepted by Pradeep Chintagunta, marketing.
Journal Article
Antioxidant Activity, Metabolism, and Bioavailability of Polyphenols in the Diet of Animals
As the world’s population grows, so does the need for more and more animal feed. In 2006, the EU banned the use of antibiotics and other chemicals in order to reduce chemical residues in food consumed by humans. It is well known that oxidative stress and inflammatory processes must be combated to achieve higher productivity. The adverse effects of the use of pharmaceuticals and other synthetic compounds on animal health and product quality and safety have increased interest in phytocompounds. With the use of plant polyphenols in animal nutrition, they are gaining more attention as a supplement to animal feed. Livestock feeding based on a sustainable, environmentally friendly approach (clean, safe, and green agriculture) would also be a win–win for farmers and society. There is an increasing interest in producing healthier products of animal origin with a higher ratio of polyunsaturated fatty acids (PUFAs) to saturated fatty acids by modulating animal nutrition. Secondary plant metabolites (polyphenols) are essential chemical compounds for plant physiology as they are involved in various functions such as growth, pigmentation, and resistance to pathogenic organisms. Polyphenols are exogenous antioxidants that act as one of the first lines of cell defense. Therefore, the discoveries on the intracellular antioxidant activity of polyphenols as a plant supplement have contributed significantly to the improvement of antioxidant activity, as polyphenols prevent oxidative stress damage and eliminate excessively produced free radicals. To achieve animal welfare, reduce stress and the need for medicines, and increase the quality of food of animal origin, the addition of polyphenols to research and breeding can be practised in part with a free-choice approach to animal nutrition.
Journal Article
Quality Predictability and the Welfare Benefits from New Products
We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent developments in recorded music as our context. We quantify the effects of new music on welfare using an explicit structural model of demand and entry with potentially unpredictable product quality. On the basis of plausible forecasting models of expected appeal, a tripling of the choice set according to expected quality adds substantially more consumer surplus as the usual long-tail benefits from a tripling of the choice set according to realized quality.
Journal Article
Product Fit Uncertainty in Online Markets: Nature, Effects, and Antecedents
Product
fit
uncertainty (defined as the degree to which a consumer cannot assess whether a product's attributes match her preference) is proposed to be a major impediment to online markets with costly product returns and lack of consumer satisfaction. We conceptualize the nature of product fit uncertainty as an information problem and theorize its distinct effect on product returns and consumer satisfaction (versus product quality uncertainty), particularly for experience (versus search) goods without product familiarity. To reduce product fit uncertainty, we propose two Internet-enabled systems-
website media
(visualization systems) and
online product forums
(collaborative shopping systems)-that are hypothesized to attenuate the effect of product type (experience versus search goods) on product fit uncertainty.
Hypotheses that link experience goods to product returns through the mediating role of product fit uncertainty are tested with analyses of a unique data set composed of secondary data matched with primary direct data from numerous consumers who had recently participated in buy-it-now auctions. The results show the distinction between product fit uncertainty and quality uncertainty as two distinct dimensions of product uncertainty and interestingly show that, relative to product quality uncertainty, product fit uncertainty has a significantly stronger effect on product returns. Notably, whereas product quality uncertainty is mainly driven by the experience attributes of a product, product fit uncertainty is mainly driven by both experience attributes and lack of product familiarity. The results also suggest that Internet-enabled systems are differentially used to reduce product (fit and quality) uncertainty. Notably, the use of online product forums is shown to moderate the effect of experience goods on product fit uncertainty, and website media are shown to attenuate the effect of experience goods on product quality uncertainty. The results are robust to econometric specifications and estimation methods. The paper concludes by stressing the importance of reducing the increasingly prevalent information problem of product fit uncertainty in online markets with the aid of Internet-enabled systems.
Journal Article