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23.11.2016 11:03 Age: 4 yrs

Science Café in December

Lecture of Prof. Miklos Sarvary (Colombia Business School) - December 1, 2016


2016. December 1. 10.00-11.30; E 3005
Prof. Miklos Sarvary, Colombia Business School



Agenda Chasing and Contests Among News Providers


This research studies competition in contests with a focus on the news industry that is increasingly influenced by social media. The model assumes publishers to pick a single topic from a large pool based on the topics' prior success probabilities, thereby chasing potentially successful topics. Firms that publish topics that become successful (i.e. popular/viral because of consumer sharing) divide a reward which can change with the number of competing firms and the number of successful topics.
The results show that share structures can be categorized into three types that, in turn, lead to qualitatively different outcomes for the contest. Furthermore, topic diversity increases with the number of participating firms only if the share they get from the reward dissipates rapidly. Firm asymmetries are also explored. It is shown that publishers with a loyal customer base are more likely to choose topics with high prior success probabilities.
Similarly, firms with less information about the topics' success tend to publish topics with higher prior probabilities. These results are consistent with anecdotal evidence regarding the content of incumbents vs. new entrants in the news industry.
Their relevance to other industry contexts is also discussed.


Biography

Miklos Sarvary is the Carson Family Professor of Business and Faculty Director of The Media and Technology Program at Columbia Business School. Miklos' broad research agenda focuses on media and information marketing. His most recent papers study agenda setting, user-generated content, social network competition and online/mobile advertising.
Previously, he worked on media and telecommu nications competition. He is member of the Editorial Boards of Marketing Science, Quantitative Marketing and Economics, International Journal of Research in Marketing and Journal of Interactive Marketing.
Prior to joining Columbia, Miklos was the Deputy Dean for Executive Development Programs at INSEAD. He has taught executive courses and consulted for large corporations, including INTEL, Pearson, McKinsey & Co., Dun & Bradstreet, Hoya in various parts of the world. Before joining INSEAD, Miklos was also a faculty member at the Harvard Business School and at the Graduate School of Business at Stanford University.
Prior to becoming an academic he worked for IBM. He studied physics in Hungary’s Eotvos Lorand University, earned an MS in Statistics from Ecole Nationale Supérieure des Mines de Paris and a Ph.D. in Management from INSEAD.


Last modified: 2019.03.11.