Sangyoung Song

This research demonstrates that during self-customization, consumers use their experiences from prior feature decisions to form expectations about subsequent decisions. When the difficulty experienced during decisions later in the process deviates from that which occurs earlier in the process, consumer preference is affected by the discrepancy between actual and expected difficulty. Specifically, the results show that when the difficulty experienced during feature decisions deviates from expecta

The diffusion of new product or technical innovation over space is here modeled as an event‐based process in which the likelihood of the next adopter being in region r is influenced by two factors: (i) the potential interactions of individuals in r with current adopters in neighboring regions, and (ii) all other attributes of individuals in r that may influence their adoption propensity. The first factor is characterized by a logit model reflecting the likelihood of adoption due to spatial conta

The diffusion of new product or technical innovation over space is here modeled as an event-based process in which the likelihood of the next adopter being in region r is influenced by two factors: (i) the potential interactions of individuals in r with current adopters in neighboring regions, and (ii) all other attributes of individuals in r that may influence their adoption propensity. The first factor is characterized by a logit model reflecting the likelihood of adoption due to spatial conta

Abstract This paper uses a game-theoretic model to examine the role of reference price for firms that vary in their quality positioning in competing for customers. Reference prices provide consumers with additional components of utility. Building on previous research on the impact of consumer decision making on firm strategies, we focus on how firms choose their positioning when consumer utility is driven not only by acquisition utility but also by the transaction utility associated with the pur

We analyze how the facial expressions of people participating in loan-based crowdfunding affect their funding performance. Previously, researchers who studied facial expressions had to rely on a small number of pictures because coding pictures required human input, which is costly. In this study, we utilize Google cloud vision API which allows us to detect the facial expressions from the large number of pictures. We examine the effects of people

Researchers in marketing, sociology, and economics have been interested in the role of social interactions in consumer choice and consumption behaviors. Social interactions, labeled variously as peer effects, social contagion, and neighborhood effects, have important implications for firms’ allocation of marketing efforts. In this research, we test and provide empirical evidence for peer effects in consumers’ service usage in the context of gym-going behaviors. Using a detailed individual-level