Timing when to buy

Rakesh Agrawal, Samuel Ieong, Raja Velu

Research output: Chapter in Book/Report/Conference proceedingConference contribution

3 Scopus citations

Abstract

Most e-commerce sites to-date have focused on helping consumers decide what to buy and where to buy. We study the complementary question of helping consumers decide when to buy, focusing on consumer durables. We introduce a utility-based model for evaluating different approaches to this question. We focus on how best to make use of forecasts in making recommendations, and propose three natural strategies. We establish a relationship between these strategies, and show that one of them is optimal. We conduct a large-scale experimental study to test the performance and robustness of these strategies. Across a wide range of conditions, the best strategy obtains 90% of the maximum possible gains.

Original languageEnglish (US)
Title of host publicationCIKM'11 - Proceedings of the 2011 ACM International Conference on Information and Knowledge Management
Pages709-718
Number of pages10
DOIs
StatePublished - Dec 13 2011
Event20th ACM Conference on Information and Knowledge Management, CIKM'11 - Glasgow, United Kingdom
Duration: Oct 24 2011Oct 28 2011

Publication series

NameInternational Conference on Information and Knowledge Management, Proceedings

Other

Other20th ACM Conference on Information and Knowledge Management, CIKM'11
CountryUnited Kingdom
CityGlasgow
Period10/24/1110/28/11

Keywords

  • automated shopping
  • recommendation

ASJC Scopus subject areas

  • Decision Sciences(all)
  • Business, Management and Accounting(all)

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