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Author: Amir Ajorlou
Publisher:
ISBN:
Category :
Languages : en
Pages : 59
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Book Description
We study the problem of optimal dynamic pricing for a monopolist selling a product to consumers in a social network. In the proposed model, the only means of spread of information about the product is via Word of Mouth communication; consumers' knowledge of the product is only through friends who already know about the product's existence. Both buyers and non-buyers contribute to information diffusion while buyers are more likely to get engaged. By analyzing the structure of the underlying endogenous process, we show that the optimal dynamic pricing policy for durable products with zero or negligible marginal cost, drops the price to zero infinitely often. By attracting low-valuation agents with free-offers and getting them more engaged in the spread, the firm can reach out to potential high-valuation consumers in parts of the network that would otherwise remain untouched without the price drops. We provide evidence for this behavior from smartphone app market, where price histories indicate frequent free-offerings. Moreover, we show that despite infinitely often drops of the price to zero, the optimal price trajectory does not get trapped near zero. We demonstrate the validity of our results in face of strategic forward-looking agents, homophily-based engagement in word of mouth, network externalities, and consumer inattention to price changes. We further unravel the key role of the product type in the drops by showing that the price fluctuations disappear after a finite time for a nondurable product.
Author: Amir Ajorlou
Publisher:
ISBN:
Category :
Languages : en
Pages : 59
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Book Description
We study the problem of optimal dynamic pricing for a monopolist selling a product to consumers in a social network. In the proposed model, the only means of spread of information about the product is via Word of Mouth communication; consumers' knowledge of the product is only through friends who already know about the product's existence. Both buyers and non-buyers contribute to information diffusion while buyers are more likely to get engaged. By analyzing the structure of the underlying endogenous process, we show that the optimal dynamic pricing policy for durable products with zero or negligible marginal cost, drops the price to zero infinitely often. By attracting low-valuation agents with free-offers and getting them more engaged in the spread, the firm can reach out to potential high-valuation consumers in parts of the network that would otherwise remain untouched without the price drops. We provide evidence for this behavior from smartphone app market, where price histories indicate frequent free-offerings. Moreover, we show that despite infinitely often drops of the price to zero, the optimal price trajectory does not get trapped near zero. We demonstrate the validity of our results in face of strategic forward-looking agents, homophily-based engagement in word of mouth, network externalities, and consumer inattention to price changes. We further unravel the key role of the product type in the drops by showing that the price fluctuations disappear after a finite time for a nondurable product.
Author: Liangfei Qiu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper studies social learning and optimal pricing in the presence of location-based social networks, such as Foursquare. We provide an analytic model to resolve the following questions: (1) What is the optimal pricing strategy in location-based networks? (2) How do different pricing strategies affect social welfare and the privacy concern of consumers? In the model, we relax the perfect rationality assumption and assume that customers who are embedded in location-based networks can make only naive inferences because of lacking the knowledge about the network structure. Our model shows that the seller could potentially control the information available to future customers and induce social learning by using different pricing strategies. Our results have clear managerial implications. Offering introductory discounts is not always an effective method to boost purchases. It could prevent the social learning that increases future customers' willingness to pay when customers adopt the naive inference rule.
Author: My T. Thai
Publisher: Springer
ISBN: 3319217860
Category : Computers
Languages : en
Pages : 320
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Book Description
This book constitutes the refereed proceedings of the 4th International Conference on Computational Social Networks, CSoNet 2015, held in Beijing, China, in August 2015. The 23 revised full papers and 3 short papers presented together with 2 extended abstracts were carefully reviewed and selected from 101 submissions and cover topics on social information diffusion; network clustering and community structure; social link prediction and recommendation; and social network structure analysis.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309089522
Category : Computers
Languages : en
Pages : 393
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Book Description
In the summer of 2002, the Office of Naval Research asked the Committee on Human Factors to hold a workshop on dynamic social network and analysis. The primary purpose of the workshop was to bring together scientists who represent a diversity of views and approaches to share their insights, commentary, and critiques on the developing body of social network analysis research and application. The secondary purpose was to provide sound models and applications for current problems of national importance, with a particular focus on national security. This workshop is one of several activities undertaken by the National Research Council that bears on the contributions of various scientific disciplines to understanding and defending against terrorism. The presentations were grouped in four sessions â€" Social Network Theory Perspectives, Dynamic Social Networks, Metrics and Models, and Networked Worlds â€" each of which concluded with a discussant-led roundtable discussion among the presenters and workshop attendees on the themes and issues raised in the session.
Author: Bhatnagar, Vishal
Publisher: IGI Global
ISBN: 1466642149
Category : Computers
Languages : en
Pages : 412
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Book Description
Many organizations, whether in the public or private sector, have begun to take advantage of the tools and techniques used for data mining. Utilizing data mining tools, these organizations are able to reveal the hidden and unknown information from available data. Data Mining in Dynamic Social Networks and Fuzzy Systems brings together research on the latest trends and patterns of data mining tools and techniques in dynamic social networks and fuzzy systems. With these improved modern techniques of data mining, this publication aims to provide insight and support to researchers and professionals concerned with the management of expertise, knowledge, information, and organizational development.
Author: Euncheol Shin
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
I present a new model of optimal dynamic pricing and diffusion of a network good sold by a monopolist. The good in this model is a social network good in that each consumer's value of the good within a social network increases as more of her neighbors use the good. In each period, the monopolist sets a subscription price and consumers myopically optimize their choices after comparing the overall adoption and the current subscription price. Thus, in contrast with one-sided diffusion models in the social network literature, the diffusion process arises as an equilibrium behavior of both the monopolist and consumers. As a result, I characterize a unique equilibrium, in which the diffusion process stays at a certain point. The equilibrium is efficient in that it involves the highest adoption rate with respect to the equilibrium subscription price. I also present the deadweight loss in the equilibrium and show how it depends on the connectivity of the underlying social network.
Author: Charles Kadushin
Publisher: OUP USA
ISBN: 0195379470
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
Understanding Social Networks explains the big ideas that underlie social networks, covering fundamental concepts then discussing networks and their core themes in increasing order of complexity.
Author: Guillermo Gallego
Publisher: Springer
ISBN: 1493996061
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Author: H. Vicky Zhao
Publisher: Cambridge University Press
ISBN: 1139500023
Category : Technology & Engineering
Languages : en
Pages : 351
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Book Description
In large-scale media-sharing social networks, where millions of users create, share, link and reuse media content, there are clear challenges in protecting content security and intellectual property, and in designing scalable and reliable networks capable of handling high levels of traffic. This comprehensive resource demonstrates how game theory can be used to model user dynamics and optimize design of media-sharing networks. It reviews the fundamental methodologies used to model and analyze human behavior, using examples from real-world multimedia social networks. With a thorough investigation of the impact of human factors on multimedia system design, this accessible book shows how an understanding of human behavior can be used to improve system performance. Bringing together mathematical tools and engineering concepts with ideas from sociology and human behavior analysis, this one-stop guide will enable researchers to explore this emerging field further and ultimately design media-sharing systems with more efficient, secure and personalized services.
Author: Seifedine Kadry
Publisher: Bentham Science Publishers
ISBN: 1608058182
Category : Computers
Languages : en
Pages : 130
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Book Description
This brief textbook explains the principles of social network analysis. The book goes beyond theoretical concepts and gives the reader complete knowledge about how to apply analytical techniques using Pajek to perform a large-scale network analysis. The book covers the topic in 2 sections – the first detailing fundamentals of research design and the next one about methods and applications. Readers can then apply the techniques in this book to other online communities, such as Facebook and Twitter. The book is intended for networking students and general readers who want to learn the basics without going deep into mathematical methods. It is also useful for researchers and professionals from other fields seeking to understand the basics of large-scale social network analysis.
