Opinion Mining Using Econometrics
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Transcript of Opinion Mining Using Econometrics
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Panos Ipeirotis
Stern School of BusinessNew York University
Opinion Mining Using Econometrics
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Comparative Shopping
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Comparative Shopping
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Are Customers Irrational?
$11.04 (+1.5%)
BuyDig.com getsPrice Premium
(customers pay more thanthe minimum price)
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Price Premiums / Discounts @ Amazon
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Are Buyers
Irrational (?)
(paying more)
Are Sellers Irrational (?)(charging less)
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Why not Buying the Cheapest?
You buy more than a product
Customers do not pay only for the product Customers also pay for a set of fulfillment characteristics
Delivery Packaging Responsiveness …
Customers care about reputation of sellers!
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Example of a reputation profile
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The Idea in a Single Slide
Conjecture: Price premiums measure reputation
Reputation is captured in text feedback
Our contribution: Examine how text affects price premiums
(and learn to rank opinion phrases as a side effect)
ACL 2007
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Decomposing Reputation
Is reputation just a scalar metric?
Previous studies assumed a “monolithic” reputation Decompose reputation in individual components Sellers characterized by a set of fulfillment characteristics
(packaging, delivery, and so on)
What are these characteristics (valued by consumers?)
We think of each characteristic as a dimension, represented by a noun, noun phrase, verb or verbal phrase (“shipping”, “packaging”, “delivery”, “arrived”)
We scan the textual feedback to discover these dimensions
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Decomposing and Scoring ReputationDecomposing and scoring reputation
We think of each characteristic as a dimension, represented by a noun or verb phrase (“shipping”, “packaging”, “delivery”, “arrived”)
The sellers are rated on these dimensions by buyers using modifiers (adjectives or adverbs), not numerical scores “Fast shipping!” “Great packaging” “Awesome unresponsiveness” “Unbelievable delays” “Unbelievable price”
How can we find out the meaning of these adjectives?
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Measuring Reputation
• Regress textual reputation against price premiums
• Example for “delivery”:– Fast delivery vs. Slow delivery: +$7.95– So “fast” is better than “slow” by a $7.95 margin
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Some Indicative Dollar ValuesPositive Negative
Natural method for extracting sentiment strength and polarity
good packaging -$0.56
Naturally captures the pragmatic meaning within the given context
captures misspellings as well
Positive? Negative?
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Feature Weights for Digital Cameras
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SLRPoint & Shoot
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Other Applications
• Financial news and price/variance prediction
• Hotel search and personalization
• Measuring (and predicting) importance of political events
• Deriving better keyword bidding, pricing, and ad generation strategies
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Overflow
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Charts
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Price premiums @ Amazon
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Average price premiums @ Amazon
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Relative Price Premiums
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Average Relative Price Premiums
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DataOverview Panel of 280 software products sold by Amazon.com X 180 days Data from “used goods” market
Amazon Web services facilitate capturing transactions We do not use any proprietary Amazon data (Details in the paper)
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Data: Secondary Marketplace
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Data: Capturing Transactions
time
Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 Jan 8
We repeatedly “crawl” the marketplace using Amazon Web ServicesWhile listing appears item is still available no sale
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Data: Capturing Transactions
time
Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 10
We repeatedly “crawl” the marketplace using Amazon Web ServicesWhen listing disappears item sold
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Capturing Transactions
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Capturing transactions and “price premiums”
Data: Transactions
Seller ListingItem Price
When item is sold, listing disappears
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Capturing transactions and “price premiums”
Data: Transactions
While listing appears, item is still available
time
Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 10
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Capturing transactions and “price premiums”
Data: Transactions
While listing appears, item is still available
time
Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 10
Item still not sold on 1/7
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Capturing transactions and “price premiums”
Data: Transactions
When item is sold, listing disappears
time
Item sold on 1/9
Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 6 Jan 7 Jan 8 Jan 9 Jan 10
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Reputation Tools
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Seller: uCameraSite.com
1. Canon Powershot x3002. Kodak - EasyShare 5.0MP 3. Nikon - Coolpix 5.1MP 4. Fuji FinePix 5.15. Canon PowerShot x900
Reputation Pricing Tool for Sellers
Your last 5 transactions in CamerasName of product Price
Seller 1 - $431
Seller 2 - $409
You - $399
Seller 3 - $382
Seller 4-$379
Seller 5-$376
Canon Powershot x300Your competitive landscapeProduct Price (reputation)
(4.8)
(4.65)
(4.7)
(3.9)
(3.6)
(3.4)
Your Price: $399Your Reputation Price: $419Your Reputation Premium: $20 (5%)
$20
Left on the table
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25%
14%
7%
45%
9%
Quantitatively Understand & Manage Seller Reputation
RSI Tool for Seller Reputation Management
How your customers see you relative to other sellers:
35%*69%89%
82%95%
ServicePackagingDelivery
OverallQuality
Dimensions of your reputation and the relative importance to your customers:
Service
Packaging
Delivery
Quality
Other* Percentile of all merchants
• RSI Products Automatically Identify the Dimensions of Reputation from Textual Feedback• Dimensions are Quantified Relative to Other Sellers and Relative to Buyer Importance• Sellers can Understand their Key Dimensions of Reputation and Manage them over Time• Arms Sellers with Vital Info to Compete on Reputation Dimensions other than Low Price.
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Marketplace Search
Buyer’s Tool
Used Market (ex: Amazon)
Price Range $250-$300
Seller 1 Seller 2
Seller 4 Seller 3
Sort by Price/Service/Delivery/other dimensions
Canon PS SD700
ServicePackaging
Delivery
Price
Dimension Comparison
Seller 1
Price Service Package Delivery
Seller 2
Seller 3
Seller 4
Seller 5
Seller 6
Seller 7