Timing when to buy

Rakesh Agrawal; Samuel Ieong; Raja Velu

doi:10.1145/2063576.2063681

Timing when to buy

Rakesh Agrawal, Samuel Ieong, Raja Velu

Whitman School of Management

Research output: Chapter in Book/Entry/Poem › Conference contribution

4 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 language	English (US)
Title of host publication	CIKM'11 - Proceedings of the 2011 ACM International Conference on Information and Knowledge Management
Pages	709-718
Number of pages	10
DOIs	https://doi.org/10.1145/2063576.2063681
State	Published - 2011
Event	20th ACM Conference on Information and Knowledge Management, CIKM'11 - Glasgow, United Kingdom Duration: Oct 24 2011 → Oct 28 2011

Publication series

Name	International Conference on Information and Knowledge Management, Proceedings

Other

Other	20th ACM Conference on Information and Knowledge Management, CIKM'11
Country/Territory	United Kingdom
City	Glasgow
Period	10/24/11 → 10/28/11

Keywords

automated shopping
recommendation

ASJC Scopus subject areas

General Decision Sciences
General Business, Management and Accounting

Access to Document

10.1145/2063576.2063681

Cite this

Agrawal, R, Ieong, S & Velu, R 2011, Timing when to buy. in CIKM'11 - Proceedings of the 2011 ACM International Conference on Information and Knowledge Management. International Conference on Information and Knowledge Management, Proceedings, pp. 709-718, 20th ACM Conference on Information and Knowledge Management, CIKM'11, Glasgow, United Kingdom, 10/24/11. https://doi.org/10.1145/2063576.2063681

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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.",

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language = "English (US)",

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AU - Velu, Raja

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AB - 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.

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Timing when to buy

Abstract

Publication series

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Keywords

ASJC Scopus subject areas

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