Tuesday 22nd February, Ming Wei Wang will be our first speaker of the PhD Seminar FS 2022.

Title: “Algorithmic feedback and collective consumer behavior in digital platforms”

Abstract: To improve the purchasing efficiency of consumers, platforms such as Amazon and Digitec offer rankings of products generated by ranking algorithms. However, because of the complexity of algorithmic systems and user behavior in digital platforms, predicting the long-term implications of ranking algorithms remains challenging. Therefore, managers and developers lack evidence-based guidelines to improve algorithms to promote the long-term benefits of stakeholders. This research aims to quantify the long-term consequences of different ranking algorithms on collective consumer behavior. To this end, we establish a modeling framework that combines consumer choice models and agent-based simulations. Initial results based on popularity-based, similarity-based, and random rankings indicate potential tradeoffs between platform revenues, collective choice quality, and success inequalities.