Virtual Quant Marketing Seminar - Jacob Conway
Consuming Values
Dear All,
Our next Virtual Quant Marketing Seminar for the semester is on Monday, April 7 at Noon ET. The speaker will be Jacob Conway (Chicago Booth).
The zoom link for all the talks is below, note that this is a new link: https://upenn.zoom.us/j/93394346729?pwd=SoVXVesbltpYbQxo9tbbPF6YgopDl3.1
Title: Consuming Values
Abstract: We study the extent to which individuals' consumption decisions are influenced by firms' stances on controversial social issues and the implied incentives for firms to take such stances. We use transactions from a major payment card company to predict cardholders’ likely social alignment with firm stances and to quantify effects on consumption. The social stances taken by firms increase revenue on average, with significant heterogeneity across consumers and firm stances. Consumers most aligned with a firm's social stance increase their consumption at the firm by 19 percent in the month following widely known social stance events, and consumers most opposed to the firm's stance decrease their consumption by 11 percent. These diverging consumption responses attenuate over time but persist even a year later. Firms tend to take stances that align with their consumers' and employees' social preferences and that correlate with the firm's ownership structure. Together our results show that consumers meaningfully respond to their social alignment with firms, and that this consumer respon
The schedule for the rest of the semester is:
Monday, April 28, Noon ET - Srinivas Tunuguntla (Duke)
Monday, May 5, Noon ET - Ananya Sen (CMU)
We encourage you to use our google calendar to keep track of the talks.