NDLI: Improving product search with economic theory

Content Provider	IEEE Xplore Digital Library
Author	Beibei Li Ipeirotis, P.G. Ghose, A.
Copyright Year	2010
Description	Author affiliation: Department of Information, Operations & Management Sciences, Stern School of Business, New York University, 44 West 4th street, New York, NY 10012, USA (Beibei Li; Ipeirotis, P.G.; Ghose, A.)
Abstract	With the growing pervasiveness of the Internet, online search for commercial goods and services is constantly increasing, as more and more people search and purchase goods from the Internet. Most of the current algorithms for product search are based on adaptations of theoretical models devised for “classic” information retrieval. However, the decision mechanism that underlies the process of buying a product is different than the process of judging a document as relevant or not. So, applying theories of relevance for the task of product search may not be the best approach. We propose a theory model for product search based on expected utility theory from economics. Specifically, we propose a ranking technique in which we rank highest the products that generate the highest consumer surplus after the purchase. In a sense, we rank highest the products that are the “best value for money” for a specific user. Our approach naturally builds on decades of research in the field of economics and presents a solid theoretical foundation in which further research can build on. We instantiate our research by building a search engine for hotels, and show how we can build algorithms that naturally take into account consumer demographics, heterogeneity of consumer preferences, and also account for the varying price of the hotel rooms. Our extensive user studies demonstrate an overwhelming preference for the rankings generated by our techniques, compared to a large number of existing strong baselines.
Starting Page	293
Ending Page	296
File Size	151612
Page Count	4
File Format	PDF
ISBN	9781424465224
e-ISBN	9781424465231
e-ISBN	9781424465217
DOI	10.1109/ICDEW.2010.5452727
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-03-01
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Multidimensional systems Demography Web and internet services Adaptation model Search engines Predictive models Information retrieval Information management Recommender systems Business
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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