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Advancements in information technologies offer opportunities for designing and deploying innovative market mechanisms. For example, combinatorial auctions, in which bidders can bid on combinations of goods, can increase the economic efficiency of a trade when goods have complementarities. However, lack of real-time bidder support tools has been a major(More)
In contingency judgment a primacy effect exists when a conclusion about the relationship between clinical variables is inordinately influenced by cases seen earlier rather than later in a presentation sequence. In this study, medical and nursing trainees evidenced this behavior in a hypothetical clinical judgment situation. The behavior was tied to an(More)
Combinatorial auctions – in which bidders can bid on combinations of goods – can increase the economic efficiency of a trade when goods have complementarities. Recent theoretical developments have lessened the computational complexity of these auctions, but the issue of cognitive complexity remains an unexplored barrier for the online marketplace. This(More)
We present the results of two controlled behavioral studies on the effects of online recommendations on consumers' economic behavior. In the first study, we found strong evidence that participants' willingness to pay was significantly affected by randomly assigned song recommendations, even when controlling for participants' preferences and demographics. In(More)
We build upon the real-time bid evaluation metrics developed by Adomavicius and Gupta (2005) that can present bidders with exact price information whenever a bidder wants to explore her alternatives, thereby providing a continuous environment. In this appendix, we provide technical details of the computational real-time bidder support capabilities. Let I be(More)
Many studies have shown that people have difficulty judging the diagnostic value of conditional probability information with respect to one or more hypotheses. The present research addressed two aspects of performing the diagnostic task in a health care decision: (a) recognition of the information's importance, and (b) correct usage of that information. In(More)
Prior research has shown that online recommendations have significant influence on consumers' preference ratings and their economic behavior. However, research has not examined the anchoring effects of aggregate user ratings, which are also commonly displayed in online retail settings. This research compares and contrasts the anchoring biases introduced by(More)