Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study

Abstract : Diamonds belong to a unique product category whose perceived value is largely dependent on socially constructed beliefs. To explore the degree to which the physical properties of a diamond can be used to predict the diamond price, we perform data mining on a large dataset of loose diamond...

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Autores principales:	Mamonov,Stanislav, Triantoro,Tamilla
Lenguaje:	English
Publicado:	Universidad de Talca 2018
Materias:	Search costs Price obfuscation Diamond retail Data mining Pricing Revenue management
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762018000200103
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spelling	oai:scielo:S0718-187620180002001032018-06-15Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining StudyMamonov,StanislavTriantoro,Tamilla Search costs Price obfuscation Diamond retail Data mining Pricing Revenue management Abstract : Diamonds belong to a unique product category whose perceived value is largely dependent on socially constructed beliefs. To explore the degree to which the physical properties of a diamond can be used to predict the diamond price, we perform data mining on a large dataset of loose diamonds scraped from an online diamond retailer. We find that diamond weight, color and clarity are the key characteristics that influence diamond prices. The data mining results also suggest a high degree of subjectivity in diamond pricing that may reflect price obfuscation strategies employed by diamond retailers.info:eu-repo/semantics/openAccessUniversidad de TalcaJournal of theoretical and applied electronic commerce research v.13 n.2 20182018-05-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762018000200103en10.4067/S0718-18762018000200103
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Search costs Price obfuscation Diamond retail Data mining Pricing Revenue management
spellingShingle	Search costs Price obfuscation Diamond retail Data mining Pricing Revenue management Mamonov,Stanislav Triantoro,Tamilla Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
description	Abstract : Diamonds belong to a unique product category whose perceived value is largely dependent on socially constructed beliefs. To explore the degree to which the physical properties of a diamond can be used to predict the diamond price, we perform data mining on a large dataset of loose diamonds scraped from an online diamond retailer. We find that diamond weight, color and clarity are the key characteristics that influence diamond prices. The data mining results also suggest a high degree of subjectivity in diamond pricing that may reflect price obfuscation strategies employed by diamond retailers.
author	Mamonov,Stanislav Triantoro,Tamilla
author_facet	Mamonov,Stanislav Triantoro,Tamilla
author_sort	Mamonov,Stanislav
title	Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
title_short	Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
title_full	Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
title_fullStr	Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
title_full_unstemmed	Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study
title_sort	subjectivity of diamond prices in online retail: insights from a data mining study
publisher	Universidad de Talca
publishDate	2018
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762018000200103
work_keys_str_mv	AT mamonovstanislav subjectivityofdiamondpricesinonlineretailinsightsfromadataminingstudy AT triantorotamilla subjectivityofdiamondpricesinonlineretailinsightsfromadataminingstudy
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Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study

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