Project description
Research at the intersection of pricing and Big Data
What are companies’ optimal pricing strategies? What are the optimal frequencies of price changes? What is the optimal personalisation? From the consumer standpoint: What are the behavioural reactions? What are the fairness concerns for those strategies? The EU-funded BIG project will answer these questions to shed light on the intersection of pricing and Big Data. It will use data collected from online marketplaces and from field experiments in partnerships with leading European retailers. The findings will be useful for academics and managers as regards the implementation of pricing algorithms, as well as for policymakers to assist them to regulate and increase price transparency.
Objective
Will there exist price convergence in the online marketplaces? Is the economy shifting to a form of uniform pricing (each user observes the same price) or to a form of personalized pricing (discounts or prices are specific to groups of consumers)? From a managerial standpoint: What are companies’ optimal pricing strategies? What are the optimal frequencies of price changes? What is the optimal personalization? From the consumer standpoint: What are the behavioral reactions? What are the fairness concerns to those strategies? The research supported by this grant will allow to address these questions. The research lies in the intersection of pricing and big data using data from two main sources: data collected from online marketplaces; and data obtained from field experiments in partnerships with leading European retailers. The study of pricing and big data are core priorities for government agencies in Europe and the United States. For instance, big data is one of the five priorities under the “Digitizing European Industry” initiative and of Horizon 2020. The research will extract concrete implications. For academics, the development of advanced pricing optimization. For managers, the implementation of pricing algorithms in collaboration with academics that incorporates consumers’ concerns. And for policymakers, the understanding and thereby design of policies that regulate and increase price transparency, in a world where the barriers to using personalized data are increasingly complex.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.1.3. - EXCELLENT SCIENCE - Marie Skłodowska-Curie Actions
MAIN PROGRAMME
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H2020-EU.1.3.2. - Nurturing excellence by means of cross-border and cross-sector mobility
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MSCA-IF - Marie Skłodowska-Curie Individual Fellowships (IF)
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-MSCA-IF-2019
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
31080 PAMPLONA
Spain
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.