A Time For Empowerment Stanley Greenstein Doctoral Student, IRI

Slides:



Advertisements
Similar presentations
How Customer Differences Can Lead to Price Differences
Advertisements

Lecture 2 - Revenue Models
WHAT IS M L M.
Research Needs in the Intercity Bus and Rail Transportation Industry Chapter 28 Research Methodologies.
Price Discrimination Students at Sherwood High in Sandy Springs, Maryland talk about things that bother them.
3.06 Develop A Foundational Knowledge Of Pricing To Understand Its Role In Marketing.
MINISTRY OF FINANCE, FINLAND Helsinki Budget Department / Markus Sovala1 Pricing public information in Finland Markus Sovala Deputy Head of Budget.
1 Patients’ Rights and Responsibilities. PATIENT RIGHTS 2 Every healthcare facility is mandated to display the following Rights and Responsibilities:
HIPAA: Privacy, Security, and HITECH, Oh My! Presented by Stephanie L. Ganucheau, Special Assistant Attorney General.
Delmar Learning Copyright © 2003 Delmar Learning, a Thomson Learning company Nursing Leadership & Management Patricia Kelly-Heidenthal
Interaction of RFID Technology and Public Policy Presentation at RFID Privacy MIT 15 TH November 2003 By Rakesh Kumar
Export Channels of Distribution.  With direct channels, the firm sells directly to foreign distributors, retailers, or trading companies. Direct sales.
Transposition of Consumer Rights ERGEG Monitoring Report Christina Veigl-Guthann, ERGEG Task Force Chair.
Advanced Pricing Ideas 1. 2 We have looked at a single price monopoly. But perhaps other ways of pricing can lead to greater profits for the sports team.
Monopoly While a competitive firm is a price taker, a monopoly firm is a price maker. A firm is considered a monopoly if it is the sole seller of.
Disclaimer This Presentation is provided “as is” without any express or implied warranty. This Presentation is for educational purposes only and does not.
Economics of Management Strategy BEE3027 Lecture 5.
Chapter 12 Price Discrimination
MARKET STRUCTURES. What is a Market Structure? ▪ Market Structures, by book definition, is the nature and degree of competition among firms operating.
Chapter 3 Supply and Demand: In Introduction. Basic Economic Questions to Answer What: variety and quantity How: technology For whom: distribution.
UNDERSTANDING BUYERS + MARKETS Principles of Marketing Week 4.
NASUCA 2015 MID-YEAR MEETING The Utility Push To Increase Customer Charge: What’s Wrong With It and How To Respond To It. Glenn A. Watkins, CRRA Senior.
Chapter 15 notes Monopolies.
Retailing in Electronic Commerce: Products and Services
Market Structures.
Price Discrimination. What is Price Discrimination? Single-price monopolist are ones that charge all consumers the same price Single-price monopolist.
Information services Quick Consulting Services Market entry feasibility study Market Research New Market Consulting.
Copyright©2004 South-Western Monopoly. Copyright © 2004 South-Western While a competitive firm is a price taker, a monopoly firm is a price maker.
Vertical Integration:a process in which a business buys out its suppliers of raw materials, transportation of products, and distributors of retail goods.
Develop A Foundational Knowledge Of Pricing To Understand Its Role In Marketing.
Compiled by: Gul Sayyar, ACCA-UK
Chapter 7: Market Structures Section 2
Competition, consumers & affordable prices in liberalised energy markets J. Minor, European Commission, Director, Consumer Affairs IV World Forum on Energy.
U.S. CHAMBER OF COMMERCE. Why a Rule of Law Coalition for Business?
A Monopoly’s Marginal Revenue
Canadian Advertising in Action, 6th ed. Keith J. Tuckwell ©2003 Pearson Education Canada Inc Elements of the Internet World Wide Web World.
UN CEFACT Single Window Recommendation Simplifying International Trade Gordon Cragge Chair – International Trade Procedures Working Group (TBG 15 of UN.
Community Engagement In Building The Legal Framework For The Extractive Sector. Are we there yet?? David Barissa ActionAid International.
CHAPTER 7. SECTION 1: Use your guided reading OPENER:  Please get out homework/classwork from yesterday and answer the following:  Does an oligopoly.
Pricing of Services Chapter 17.
Chapter 4.2 Differential Pricing Greg Koch Objectives Differential pricing Willingness to Pay Market Segments Goals of Differential Pricing Traditional/
Computer in Everyday Life
ECT 455/HCI 513 ECT 4 55/HCI 513 E-Commerce Web Site Engineering Legal Issues.
Chapter Twelve Digital Interactive Media Arens|Schaefer|Weigold Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution.
Chapter One What is Business? © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Introduction to Business.
MARKETING BEGINS WITH ECONOMICS
Intro to Marketing Mr. Bernstein Pricing Strategy: Yield Management November 24, 2014.
DISTRIBUTION MANAGEMENT. Marketing Channels Need for Marketing Channels Marketing channels have marketing intermediaries such as retailers, wholesalers,
Chapter 2 Problem Definition. Topics Importance of Problem Definition The Process of Problem Definition –Tasks Involved –Environmental Context –Management.
Empowering the Traders in the Forex Industry Ahmad Khatib.
User Modeling for the Mars Medical Assistant MCS Project By Mihir Kulkarni.
Cost – basedCompetition – basedMarket - led Cost-plusPrice leadershipPenetration Marginal costPredatory pricingSkimming Contribution costGoing ratePrice.
Travel Solutions Program Drexel University ravel Solutions Program Drexel University T ravel Solutions Program.
Marketing April 20, 2015 Price Planning. Discuss with your neighbor  Discuss the relationship between price and the other P’s of the marketing mix. 
MODULE VI GLOBALIZATION / MNC/TNC EXIM Globalization is a process of interaction and integration among the people, companies, and governments of different.
Ethics and Moral reasoning
Eight Unique Features of E-commerce Technology
Big Data Considerations
Monopoly Chapter 7 Section 2.
January 9, 2018 U.S. History Agenda: DO NOW: DBQ
Pricing of services.
Other Sources of Information
The Revolution Is Just Beginning
Domestic Policies Related to Economic Growth
Domestic Policies Related to Economic Growth
3.06 Develop A Foundational Knowledge Of Pricing To Understand Its Role In Marketing.
How did the U.S. government attempt to regulate big business?
NOTES #32: Why did labor unions form in the U.S.?
Enterprise Productivity – HCL Proposition
Interstate Commerce Act 1887
Presentation transcript:

A Time For Empowerment Stanley Greenstein Doctoral Student, IRI

The digital trail Past Future

The linguistic footprint ● Premise: each human being uses language differently ● Collection of identifiers that stamps the writer as unique ● Reconstructed from a persons daily interactions ● Can be connected to a variety of personality characteristics, situation variables, and physiological (psychological) markers

The issue? ● Information collection ● Information is stored, aggregated, data-mined, analysed ● The algorithm ● A consequence of category The crux of the matter: 1)The algorithm determines the category 2)The category determines the consequence

”Social sorting” Category 1: Category 2: Category 4: Category 3: Consequence:

Social sorting cont. Consequence: Higher priced ticket Lower priced ticket Not allowed to fly Special treatment Airline company

The digital profile Bank Social media Supermarket Law enforcement Insurance co. Digital persona

Context: price discrimination ● “to charge different prices to various customers for the same goods or services” ● Some assumptions: – Profit, not control – Similar goods or services can attain varying price tags depending on the conditions under which they were purchased – Arbitrage disliked – Less information about a purchaser limits price discrimination possibilities – Negative connotation even illegal – Modern technology facilitates price discrimination

History repeats itself Context: price discrimination

Interstate Commerce Act 1887 ● Rates to be just and reasonable ● Personal discrimination forbidden ● “Undue or unreasonable preference” forbidden ● charging more for a short haul than a long haul forbidden ● pooling forbidden ● rates were to be published ● impediments to continuous travel of freight forbidden

Interstate Commerce Commission Railroad companies forced to provide the Commission with details of tariffs and fairs on a continual basis and provide notification in the change of these fares The Commission was tasked with oversight of the railroad industry and had the power to call upon various forms of information from the railroad companies as well as call witnesses

The price 100 SEK Maximal willingness to pay! Assumption: More information about customers, means less privacy, which allows for increased price discrimination

Difference? Technology! – Railroads did not have the ability to determine “willingness to pay”

Example 1: The Netflix recommendation

Netflix algorithm

Example 2: …in relation to the state…

“Issue”? Institutions know more about us than we know about ourselves! …and many, many more Insurance co.Social media Supermarket Law enforcement Bank

EMPOWERMENT

Definition em·pow·er transitive verb \im-ˈpau̇(- ə )r\ : to give power to (someone) : to give official authority or legal power to (someone)

Power of attorney

EMPOWERMENT ● Knowledge (incl. rights) ● Transparency ● Non-arbitrarness ● Criteria (relevance) ● Fairness ● Accountability ● Enforcement ● Challenge forum ● Technology

The End!