The Department of Computer Science at the University of Cyprus cordially invites you to the Colloquium entitled:
Uncertainty for Quality and Taste Product Attributes: Competition, Information Disclosure Investments and the Role of Infomediaries
Speaker: Dr. Panos Markopoulos
In this presentation, I aim to help the audience understand current research in the "Information Systems & Economics" community, and also to briefly present my own work. In the first 10-15 minutes, I will present a snapshot of the field, as well as current trends in popular topics and research methodologies. Next, I will present a game theoretic model of a market where consumers are uncertain about exact product characteristics. Consumers' uncertainty is controlled both by 3rd party infomediaries that control the "ambient" level of market information, as well as by the product manufacturers themselves, through investments in reducing consumer product uncertainty. I will focus mostly on what the model predicts about the impact of technologies that reduce consumer uncertainty about product quality and taste-related attributes. For example, we will discuss the success of technologies that emphasize personal taste, such as collaborative filtering, in driving sales in the so called "long tail" of products - products with low sales frequency prior to the advent of online markets. Finally, we will also discuss the socially optimal way to operate websites that reduce consumer uncertainty about available products.
Dr. Markopoulos completed his PhD in the University of Pennsylvania in 2004 studying the mechanism by which consumers receive information about products and services in electronic markets. His professional experience includes the Athens Stock Exchange, IBM Research, and the elite management consulting firm McKinsey & Co, where he consulted for the top management of leading corporations in Europe, USA and Canada. As an academic, he has taught in Cornell University and the Wharton Business School, where he was a visiting Lecturer in 2005. He was a co-founder of Media Society, a technology development firm for electronic media, and holds patents in the field of targeted advertising.
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