Transcript
  • 00:00    |    
    Initial credits
  • 00:06    |    
    Introduction
  • 00:44    |    
    David Reiley's early interest in economic experimentation
  • 02:06    |    
    Experiments in online auctions
  • 03:21    |    
    Northern Exposure field experiment
  • 03:57    |    
    Online search advertisements
  • Types of advertisements
  • 05:40    |    
    Advertisement performance based on the presence of other advertisements
  • 06:35    |    
    Performance of an advertisement in the northern position
  • Position and quantity preferences
  • 09:08    |    
    Definition of an externality
  • 10:27    |    
    Importance of data
    • Observational data
    • Experimental data
  • 10:54    |    
    Correlational and causality influences on observational data
  • 12:57    |    
    Random assignment in individual search queries experiment
  • 14:10    |    
    Experiment results
  • 16:14    |    
    Companies that perform research and experiments
    • Capital One example
    • Amazon.com example
  • 17:11    |    
    Economical mechanism designs
  • Cellphone spectrum services
  • 18:18    |    
    Are you applying the results you obtained in the experiment?
  • 18:58    |    
    Experiment based on the impact of advertisements shown to web users
  • 20:17    |    
    Importance of experimentation in companies
  • 21:32    |    
    Northern Exposure experiment repetition
  • Uncertainty interval levels
  • 22:33    |    
    Impact on South and East advertisements
    • Application of experimental results
    • Decline in clickthrough rate in South and East advertisements
  • 24:46    |    
    Benefits from northern advertisement increase
  • 25:27    |    
    Impact on organic search results
  • 26:51    |    
    Difference between organic results and advertisement results
  • 28:48    |    
    True representativity of the experiment results
  • 29:39    |    
    Do you know why people act in a certain way towards the position of the advertisement?
  • 30:35    |    
    Explanatory theories
    • Comparative search behavior theory
    • Displacement of organic listings theory
  • 31:20    |    
    Less useful search results for customers
  • 32:25    |    
    Measurements on different computer screen sizes
  • 33:41    |    
    Experiment conclusions
  • 34:13    |    
    Question and answer period
    • Do you think that the data obtained from these experiments make you a better competitor?
    • Do you think other companies may copy your experimental results?
    • Are you performing any current experiments?
  • 37:53    |    
    Final words
  • 38:05    |    
    Final credits


Field Experiments in Economics

New Media  | 16 de marzo de 2011  | Vistas: 49

The experimental economics field has helped scientists understand and explain certain things that cannot be understood by traditional techniques. In this conference, David Reiley speaks about his experience in this area and explains how his work has gained importance in the advertising and marketing world.  Using one of his experiments as an example, Reiley explains the process and results obtained through it. He talks about the importance of data and the interpretation he gives to it as an economist.  Reiley elaborates on the importance of these types of experiments in companies which might, ultimately, lead to a more profitable business and a better understanding of the customers' needs and preferences.




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David Reiley is pioneer in the use of field experiments in…

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