Everyone knew something was wrong. Between 2007 and 2011, the Argentine government claimed inflation was running at an average of 8 per cent but the numbers did not tally with what households were experiencing. Argentinians reckoned prices were rising at above 20 per cent, which happened to be the same as unofficial, provincial figures collected […]
MIT researchers collected data from some of the nation’s largest retailers, including Target, Walmart, and Stop & Shop. Standing in the checkout line at Walmart waiting to buy a TV or the latest gadget, one might ponder whether it’s cheaper to buy the same television from Walmart online. Turns out, it’s probably not. According to […]
In an average of 72 percent of the cases, there is no price advantage to shop online instead of in the shop – or vice versa. This is the result of a recent study by the Massachusetts Institute of Technology (MIT) after analyzing online and offline prices in ten countries.
Alberto Cavallo, Associate Professor of Applied Economics at the MIT Sloan School of Management, explains how online and offline prices compare. Everyone has their own personal opinion, but Prof. Cavallo and his team wanted to collect data in a large number of countries to answer the question with objective evidence. Is it actually cheaper as […]
Study shows online retail prices often match store prices — and suggests why they sometimes do not. When you buy products online, do you imagine you could get better prices in a store? Conversely, does in-store shopping lead you to wonder whether you are missing better prices online? Fear not. An innovative study by an […]
Core Personal Consumption Expenditure Deflator. Source: Department of Commerce Inflation is an average. Prices in some areas are growing quickly, while others fall. That’s the way it has to be in a broadly diversified economy. The broadest measure of inflation – the personal consumption deflator – measures everything that consumers buy, and weights it by […]
(Newsroom America) — When you buy products online, do you imagine you could get better prices in a store? Conversely, does in-store shopping lead you to wonder whether you are missing better prices online? Fear not. An innovative study by an MIT economist shows that in 10 major countries, companies sell their wares at the […]
Como esta tecnología ofrece un gran volumen de datos, pero poca información sobre un aspecto particular, se demoró su adopción “Cuando tenés un martillo todos los problemas se parecen a un clavo”, reza la así llamada ley del instrumento, enunciada por el filósofo americano Abraham Maslow allá por los sesenta en relación a la sobreconfianza […]
‘A “big data” approach to inflation is helping us understand the fundamental question of why recessions happen’. In the dying days of 2015 came news to set any geek’s pulse racing: the declaration of a “statistical emergency” by Mauricio Macri, the new president of Argentina. Macri’s move enabled Jorge Todesca, head of the statistics bureau, […]
Data is finance’s new currency, healthcare’s latest wonder drug, and the energy sector’s new oil. Another day, another Big Data analogy. All of the hype doesn’t change the fact that businesses across nearly every industry are gaining competitive advantage by extracting value from large datasets.