The Wisconsin School of Business’ Marketing Department hosts an annual Marketing Camp that invites guest speakers from all around the globe to present their research. The objective of the Camp is to network, share research, studies, and findings regarding the ever-changing marketing landscape. The marketing landscape is continuously evolving due to technological advancements and the multifaceted human population. We believe that in this day and age marketing research has never been more imperative. The focus of our marketing research is to help us gain key insights on marketing analytics and big data, consumer culture theory, and consumer behavior. A big part of this research involves bringing in new ideas from our fellow peers in the world of academia. As such, we have invited these four guest speakers below to share with us some of the research that they have been working on.
|4:15PM to 5:30PM||Fluno Center||Nitin Mehta||See synopsis||Pending|
|8:45AM to 10:00AM||4151 Grainger Hall||Gita Johar||Columbia Business School||See synopsis||Pending|
|10:30AM to 11:45AM||4151 Grainger Hall||Monic Sun||Questrom School of Business, Boston University||Pending||Pending|
|12:45PM to 2:00PM||4151 Grainger Hall||Driehaus College of Business, DePaul University||See synopsis||Pending|
AI Algorithms and Rising Concerns of Racial Biases: An Analysis of Airbnb’s Smart Pricing Algorithm
Nitin Mehta, Professor, Rotman School of Business, University of Toronto
AI algorithms have sparked concerns that they might produce outcomes that perpetuate or exacerbate existing racial biases. We examine the implementation of Airbnb’s smart-pricing algorithm and derive market implications across different ethnic groups of Airbnb hosts who adopted it. After its introduction, the revenue gap between white and black hosts further increased by 16.4% suggesting that the algorithm exacerbated existing racial biases. However, this result is unconditional on its adoption. Conditional on its adoption, the revenue gap decreased by 57.2%, which shows that it can substantially mitigate racial biases, but the challenge is to enhance its adoption among black hosts. The reason why the algorithm helped black hosts more than white hosts is because while the magnitude of the price correction by the algorithm was the same across black and white hosts, the rental-demand for black hosts is more responsive to price changes.
Combating Fake News: A Consumer Psychology Perspective
Gita Johar, Professor, Columbia Business School
An increasing proliferation of misinformation and “fake news” has been widely reported and documented. Reality is now under attack from advertising-optimized information architectures mediating our contemporary reality and disinformation campaigns proliferate on online forums and social media. My research program aims to answer questions regarding why we believe and share fake news and how to prevent or correct inaccurate beliefs. In a recent paper titled “Perceived Social Presence Reduces Fact-Checking” (Proceedings of the National Academy of Science 2017), we find that consumers are less likely to fact check ambiguous news headlines when they feel they are in the presence of others compared to when they are alone. We find that this reluctance to fact check is caused by reduced vigilance in group settings such as social media. In a series of follow-up research projects, I am designing interventions such as direct debunking as well as subtle flagging of news headlines and testing their impact on message scrutiny. We find mixed evidence for the efficacy of these interventions. We also find that increasing message skepticism and scrutiny can have unintended spillover consequences in terms of reduced trust in brands advertised on these social platforms. In another research project, I address the issue of fake news from a different perspective and examine sharers of fake news. Who are they, and what motivates them to share fake news? We contrast fake news sharers, fact-check sharers, sharers of news articles from general media outlets and a random sample of social media users across five dimensions--demographics, political ideology, social media usage, emotions and personality. We access these characteristics by collecting their personal information as posted on Twitter as well as the content of their tweets. Fake news sharers differ from the other groups on multiple characteristics, but they also show similarities to fact check users on their emotional profile. Our findings can help social platforms to screen, prioritize and scrutinize messages posted by potential fake news sharers before false messages are widely disseminated. Taken together, this research program aims to guide policy discussions on how to combat the spread of fake news.
A Model of Smart Technologies
Monica Sun, Associate Professor, Questrom School of Business, Boston University
Reconciling Cocreation Logics through Institutional Work
Albert Muniz, Professor, Driehaus College of Business, DePaul University
Corporations recognize the strategic advantages of harnessing user ingenuity; however, beyond cases of successful, narrowly scoped and/or temporally limited collaborations, little is known about what undergirds enduring cocreation. We assert that the extant literature on cocreation reveals two operating institutional logics: market and community. We evidence a profound cleavage between these logics in the marketplace which feeds into a similar institutional chasm in academic literature. Utilizing the construct of ideal types, we distinguish market and community cocreation logics and discover that within both, participants quest for mastery and affiliation. Toward a more comprehensive understanding of prolonged multi-stakeholder cocreation, we study reconciliation of divergent stakeholder perspectives on cocreation within the LEGO Ideas cocreation platform. We find that users thwarted in mastery and affiliation, utilize exit, voice and loyalty to assert their agency within cocreation initiatives. Likewise, firms looking for sustainable cocreation cannot take consumer mastery and affiliation for granted and must recognize the gap in logics from the outset, and be willing to engage in institutional work towards a unified logic.