The Economics of Recommender Systems: Evidence from a Field Experiment on MovieLens

The Economics of Recommender Systems: Evidence from a Field Experiment on MovieLens. Aridor, G., Goncalves, D., Kluver, D., Kong, R., & Konstan, J. November 2022. ISBN: 2211.14219 Publication Title: arXiv [econ.GN]

Paper abstract bibtex 2 downloads

We conduct a field experiment on a movie-recommendation platform to identify if and how recommendations affect consumption. We use within-consumer randomization at the good level and elicit beliefs about unconsumed goods to disentangle exposure from informational effects. We find recommendations increase consumption beyond its role in exposing goods to consumers. We provide support for an informational mechanism: recommendations affect consumers' beliefs, which in turn explain consumption. Recommendations reduce uncertainty about goods consumers are most uncertain about and induce information acquisition. Our results highlight the importance of recommender systems' informational role when considering policies targeting these systems in online marketplaces.

@unpublished{aridor_economics_2022,
	title = {The {Economics} of {Recommender} {Systems}: {Evidence} from a {Field} {Experiment} on {MovieLens}},
	url = {http://arxiv.org/abs/2211.14219},
	abstract = {We conduct a field experiment on a movie-recommendation platform to
identify if and how recommendations affect consumption. We use
within-consumer randomization at the good level and elicit beliefs about
unconsumed goods to disentangle exposure from informational effects. We
find recommendations increase consumption beyond its role in exposing
goods to consumers. We provide support for an informational mechanism:
recommendations affect consumers' beliefs, which in turn explain
consumption. Recommendations reduce uncertainty about goods consumers are
most uncertain about and induce information acquisition. Our results
highlight the importance of recommender systems' informational role when
considering policies targeting these systems in online marketplaces.},
	author = {Aridor, Guy and Goncalves, Duarte and Kluver, Daniel and Kong, Ruoyan and Konstan, Joseph},
	month = nov,
	year = {2022},
	note = {ISBN: 2211.14219
Publication Title: arXiv [econ.GN]},
}

Downloads: 2

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