Prof. JP Eggers on “Focusing On the Customers You Want, Not the Ones You Have”

jpeggersIn a recent opinion editorial on Harvard Business Review, MSBA Professor JP Eggers explained why digital businesses should innovate for the consumers they want, not the ones that they already have.

Professor Eggers drew on the distinctions between early and late adopters of technology to support his claims, using companies such as Snapchat, Facebook, and MySpace. Early adopters, he explains, sometimes view later adopters with contempt, and may abandon a digital platform or technology entirely with a heavy convergence of late adopters.

However, “given the relatively small size of the early-adopter pool, sacrificing a few first-generation users may seem like a minor loss and a worthwhile trade-off. But original users confer a certain legitimacy to a business. Moreover, these risk-seeking, innovative, exploratory consumers pose a potential competitive threat if they become disenchanted and leave. They may wind up leading the charge for — or even founding — a competing business that they feel is truer to your business’s original purpose. While there is no way to know for sure, it is likely that the early adopters of Google’s search, the iPhone, and Facebook included many disenchanted early adopters of Yahoo!, Blackberry, and MySpace.”

To read the entire article on Harvard Business Review, please click here.

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Prof. Sundararajan: “AirBnB is an Ally, Not An Adversary”

The following is a NY Times op-ed by MSBA Professor Arun Sundararajan:

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“Airbnb has helped create a new form of mixed-use real estate: residential units that sometimes double as short-term paid accommodation.

It remains unclear whether this form of “sharing” significantly alters the supply of affordable rental housing. In San Francisco, city officials contend the impact is high, while Airbnb’s own economic analysis suggests otherwise.

Regardless, all of the rooms and units listed on Airbnb could barely house a tenth of the 45,000 new residents San Francisco has added to its population over the last five years.

And Airbnb’s scale in San Francisco is dwarfed even further by the high fraction of rent-controlled units — over 170,000 spaces, or about 70 percent of rental units — which significantly distort the availability and allocation of affordable housing.

Regulation of Airbnb cannot by itself solve San Francisco’s housing shortage, whatever form the regulation might take. It is critical that city governments treat platforms like Airbnb as partners in finding new regulatory solutions, rather than casting them as the protagonists in conflicts between existing regulations and the new commercial behaviors they enable…”

Read the entire op-ed here.

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Prof. Anindya Ghose Speaks at OECD in Paris

 

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MSBA Professor Anindya Ghose recently spoke at the annual OECD (Organisation for Economic Co-operation and Development) forum in Paris on the topic of imminent implications of big data and the Internet-of-Things for society, businesses, labor markets, and financial markets. Professor Ghose joined UN officials, heads of state, and CEOs from around the world to discuss a panel on “The New Product Revolution” and examined how to harness the benefits of the data-driven revolution in order to solve key societal challenges and formulate policy-making.

Read below fore more information about his session:

Ongoing and interconnected innovation in ICT — Big Data and the “Internet of Everything”– nanotech, telemedicine, biotechnology, is offering promising solutions to challenges in areas such as health, ageing, climate change, food security, and represent an increasingly significant source of potential growth. Policies to stimulate this type of “knowledge-based” economic growth are high on the agenda in many countries. Past industrialization created employment opportunities and led to higher living standards. However, the current industrial revolution is a complex one where the relationship between innovation and the creation of jobs and higher living standards is not obvious.

Professor Ghose tackled questions focusing around regulatory frameworks to support the “next production revolution” and infrastructures for developing such new products. He also discussed measures we can take to ensure that the benefits of innovation do not lead to a further increase in inequality.

Read more about the OECD session here.

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Prof. Anindya Ghose Leads Webinar on Leveraging Beacons, Wi-Fi and Geo-fencing

Webinar-Slides_Location-based-mobile-advertising-lessons-for-retailersMSBA Professor Anindya Ghose recently gave a webinar on mobile marketing analytics that was streamed live internationally. In the webinar, titled “Leveraging Beacons, Wi-Fi and Geo-fencing to achieve maximum ROI,” Professor Ghose offered location-based mobile advertising lessons for retailers. He also shared results from his experiments with Beacon-based targeting, Wi-Fi localization and geo-fencing conducted in retail stores across Germany, China, South Korea and the US.

The webinar also explored how retailers could use beacons to gain insights on visitor behavior, trigger hyper-targeted contextual information to shoppers, and generate more revenue.

To watch a recording of the webinar and view Professor Ghose’s slides, please click here.

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Prof. Arun Sundararajan Discusses “Curbing the New Corporate Power”

sundararajan-200In a recent online debate on regulating platform and carrier services  held by the Boston Review, MSBA Professor Arun Sundararajan discussed regulatory responsibilities and how these platforms will impact labor markets, employment opportunities, and social safety nets.

Professor Sundararajan argued that rather than focusing strictly on the government’s role in controlling their power, self-regulatory measures would allow platforms to become “partners in addressing old and new forms of market failure.”

“By redefining exchange in the markets they mediate, today’s platforms will create new efficiencies that diminish some sources of market failure—for example, the uncertain quality of taxicabs and their drivers that necessitated government licensing in the past. At the same time, though, platforms may induce new forms of market failure, such as the denial of market access to a supplier or a consumer. The regulatory framework should allow the government to respond to specific failures, not prescribe intervention across the board.”

To read Professor Sundararajan’s entire op-ed on reallocating regulator responsibilities, please click here.

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Professor Anindya Ghose Discusses “The Future and Viability of Crowdfunding” in NYU Panel

NYU PanelIn October 2014, MSBA Professor Anindya Ghose discussed crowdfunding in a panel hosted by the NYU Journal of Law & Business. The panel, titled The Future and Viability of Crowdfunding, examined how equity crowdfunding will impact the investment and entrepreneurial landscape in the United States.

Specifically, the panel focused on the impact of impending legislation on entrepreneurs and sources of capital, as well as the strengths and weaknesses of the SEC’s proposed rules for crowdfunding.

Professor Ghose was joined by leaders in business and law for the panel, including moderator Jill Kickul, Director of the Program in Social Entrepreneurship at NYU Stern; Daniel I. DeWolf, Co-Chair of the Venture Capital & Emerging Companies Practice at Mintz Levin; Ryan Feit, CEO and Co-Founder of SeedInvest; and David S. Rose, Founder of New York Angels and current CEO of Gust.

To watch the entire panel, please click here.

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Prof. Kristen Sosulski Explains How to Tell a Story with Data

ksIn a recent video on Ideas Never Sleep, MSBA Professor Kristen Sosulski illustrated the components of telling a story using data, from exploration and analysis to communication.

Prof. Sosulski first explained the importance of knowing who the audience is, as this will affect how data visualization is used for presentation. She also discussed different user experiences, from a static portrayal to an interactive opportunity to explore.

She also encouraged those working with data to “think like an educator” and consider what exactly the audience should learn and the best way to display this data.

To watch the entire video on Ideas Never Sleep, please click here.

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Arun Sundararajan Examines Lower Income Groups in the Sharing Economy

arunMSBA Professor Arun Sundararajan’s research on lower income groups in the sharing economy was recently highlighted by the Financial Times. In his research “Peer-to-Peer Rental Markets in the Sharing Economy,” Professor Sundararajan examined the peer-to-peer car rental market in San Francisco. He found that the sharing economy benefited those below the median income, as these groups could access cars without the high costs of ownership.

“Ownership was the dominant form of getting access to something in the past, but now we have built these peer-to-peer lending networks and it seems to be a positive story for the economy,” concludes Prof. Sundararajan. “If you look at the fundamentals, variety goes up and that increases consumption, which increases growth.”

To read the article, please click here.

To read Professor Sundararajan’s research paper on SSRN, please click here.

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Prof. Panos Ipeirotis Wins Best Paper Award

panosMSBA Professor Panos Ipeirotis recently won a Best Paper Award from the Association for the Advancement of Artificial Intelligence (AAAI). The honor was awarded for his research paper with NYU Poly PhD student Maria Christoforaki, titled  ”STEP: A Scalable Testing and Evaluation Platform.” The paper examined the challenges with evaluating online testing and courses, and presented a platform that allowed for continuous generation and evaluation of test questions.

Through the “STEP” platform, the researchers determined that their ”experimental evaluation shows that our system generates questions of comparable or higher quality compared to existing tests, with a cost of approximately 3-5 dollars per question, which is lower than the cost of licensing questions from existing test banks.”

Professor Ipeirotis and Maria Christoforaki presented this research at AAAI’s 2014 Conference on Human Computation and Crowdsourcing.

To read the entire paper, please click here.

 

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New Research by Vishal Singh Examines Hoarding Behaviors

vsinghIn a research paper published on the Social Science Research Network, MSBA Professor Vishal Singh examined hoarding behaviors during commodity bubbles. With his co-authors Aureo De Paula and Harrison G. Hong, Professor Singh measured hoarding using scanner data on US household purchases at supermarkets during the 2008 Rice Bubble. During this time, export bans spiked rice prices worldwide (including in US markets), which led US households with previous purchases of rice to double their buying in anticipation of shortages.

In the research paper, Professor Singh documented “transmission mechanisms through over-extrapolation from high prices and contagion, as many households bought rice for the first time during the bubble.”

To read the entire paper on SSRN, please click here.

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