2018-2019 BBA Marketing Seminar

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Perhaps the most popular topic with respect to the potential impact of artificial intelligence (AI) concerns what this technology means for jobs. As AI develops and mimics increasing levels of cognitive functions, the scope of jobs that might be impacted is great. This has motivated investigations into the nature of cognitive skills required for a wide array of occupations in order to identify those most likely to be impacted. Estimating the impact of AI on labor market outcomes requires an understanding of the particular tasks that AI will directly effect. Our goal in this article is to specify the characteristics of the technological change brought about by AI, and then to demonstrate how understanding these details provides useful insight into the labor market consequences.

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Paying for a Chance to Save Money: Two-Part Tariffs in Name-Your-Own-Price Markets

Image AddedRobert Zeithammer, Professor, Anderson School of Management, University of California - Los Angeles

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Prior theoretical research has shown that a Name-Your-Own-Price (NYOP) seller can profit from charging each prospective buyer a non-refundable fee for the opportunity to place a bid, akin to an entry fee to the seller’s store. We examine the profitability of such two-part tariffs in NYOP markets using incentive-compatible laboratory experiments. Overall, our results suggest two-part tariffs increase NYOP profit in a standard information-poor setting in the short run, but they are not as profitable as theory would suggest when the bidders get more information or experience. We also propose an individual-level non parametric test of the risk-averse expected utility model, and the test results suggest that this canonical model for decision making under uncertainty is not a good fit to the behavior of a substantial proportion of our subjects.

2018 Marketing Camp

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.

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