计量经济分析 = Econometric analysis

An important part of our information-gathering behavior has always been to find out what other people think. With the growing availability and popularity of opinion-rich resources such as online review sites and personal blogs, new opportunities and challenges arise as people now can, and do, actively use information technologies to seek out and understand the opinions of others. The sudden eruption of activity in the area of opinion mining and sentiment analysis, which deals with the computational treatment of opinion, sentiment, and subjectivity in text, has thus occurred at least in part as a direct response to the surge of interest in new systems that deal directly with opinions as a first-class object.

This survey covers techniques and approaches that promise to directly enable opinion-oriented information-seeking systems. Our focus is on methods that seek to address the new challenges raised by sentiment-aware applications, as compared to those that are already present in more traditional fact-based analysis. We include material on summarization of evaluative text and on broader issues regarding privacy, manipulation, and economic impact that the development of opinion-oriented information-access services gives rise to. To facilitate future work, a discussion of available resources, benchmark datasets, and evaluation campaigns is also provided.

/pdf/opinion-mining-and-sentiment-analysis-3v5ya3qqiw.pdf

Opinion Mining and Sentiment Analysis

The author systematically examines one of the important issues of information — establishing the market price. He introduces the concept of «search» — where a buyer wanting to get a better price, is forced to question sellers. The article deals with various aspects of finding the necessary information.

Economics of Information

Sentiment analysis algorithms and applications: A survey

What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.

The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields (Chinese Translation)

This study examines the persuasive effect and awareness effect of online user reviews on movies' daily box office performance. In contrast to earlier studies that take online user reviews as an exogenous factor, we consider reviews both influencing and influenced by movie sales. The consideration of the endogenous nature of online user reviews significantly changes the analysis. Our result shows that the rating of online user reviews has no significant impact on movies' box office revenues after accounting for the endogeneity, indicating that online user reviews have little persuasive effect on consumer purchase decisions. Nevertheless, we find that box office sales are significantly influenced by the volume of online posting, suggesting the importance of awareness effect. The finding of awareness effect for online user reviews is surprising as online reviews under the analysis are posted to the same website and are not expected to increase product awareness. We attribute the effect to online user reviews as an indicator of the intensity of underlying word-of-mouth that plays a dominant role in driving box office revenues.

/pdf/do-online-reviews-matter-an-empirical-investigation-of-panel-3ftkc2tmhp.pdf

Do online reviews matter? - An empirical investigation of panel data

There are growing interests in understanding how word-of-mouth (WOM) on the Internet is generated and how it influences consumers' purchase decisions at retail outlets. A unique aspect of the WOM effect is the presence of a positive feedback mechanism between WOM and retail sales. We characterize the process through a dynamic simultaneous equation system, in which we separate the effect of online WOM as both a precursor to and an outcome of retail sales. We apply our approach to the movie industry, showing that both a movie's box office revenue and WOM valence significantly influence WOM volume. WOM volume in turn leads to higher box office performance. This positive feedback mechanism highlights the importance of WOM in generating and sustaining retail revenue.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1101054_code412577.pdf?abstractid=1101054&rulid=4326921&mirid=4

The Dynamics of Online Word-of-Mouth and Product Sales: An Empirical Investigation of the Movie Industry

The dynamics of online word-of-mouth and product sales—An empirical investigation of the movie industry

The ''helpfulness'' feature of online user reviews helps consumers cope with information overloads and facilitates decision-making. However, many online user reviews lack sufficient helpfulness votes for other users to evaluate their true helpfulness level. This study empirically examines the impact of the various features, that is, basic, stylistic, and semantic characteristics of online user reviews on the number of helpfulness votes those reviews receive. Text mining techniques are employed to extract semantic characteristics from review texts. Our findings show that the semantic characteristics are more influential than other characteristics in affecting how many helpfulness votes reviews receive. Our findings also suggest that reviews with extreme opinions receive more helpfulness votes than those with mixed or neutral opinions. This paper sheds light on the understanding of online users' helpfulness voting behavior and the design of a better helpfulness voting mechanism for online user review systems.

/pdf/exploring-determinants-of-voting-for-the-helpfulness-of-2jbnp5st03.pdf

Exploring determinants of voting for the helpfulness of online user reviews: A text mining approach

Companies have increasingly advocated social media technologies to transform businesses and improve organizational performance. This study scrutinizes the predictive relationships between social media and firm equity value, the relative effects of social media metrics compared with conventional online behavioral metrics, and the dynamics of these relationships. The results derived from vector autoregressive models suggest that social media-based metrics (web blogs and consumer ratings) are significant leading indicators of firm equity value. Interestingly, conventional online behavioral metrics (Google searches and web traffic) are found to have a significant yet substantially weaker predictive relationship with firm equity value than social media metrics. We also find that social media has a faster predictive value, i.e., shorter “wear-in” time, than conventional online media. These findings are robust to a consistent set of volume-based measures (total blog posts, rating volume, total page views, and search intensity). Collectively, this study proffers new insights for senior executives with respect to firm equity valuations and the transformative power of social media.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID2162167_code412577.pdf?abstractid=2162167&mirid=1

Wenjing Duan

Papers

Do online reviews matter? - An empirical investigation of panel data

The Dynamics of Online Word-of-Mouth and Product Sales: An Empirical Investigation of the Movie Industry

The dynamics of online word-of-mouth and product sales—An empirical investigation of the movie industry

Exploring determinants of voting for the helpfulness of online user reviews: A text mining approach

Social Media and Firm Equity Value