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Open AccessArticle

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

1
Feliciano School of Business, Montclair State University, Montclair, NJ, USA
2
School of Business, Quinnipiac University, Hamden, CT, USA
*
Author to whom correspondence should be addressed.
J. Theor. Appl. Electron. Commer. Res. 2018, 13(2), 15-28; https://doi.org/10.4067/S0718-18762018000200103
Received: 21 March 2017 / Accepted: 17 October 2017 / Published: 1 May 2018
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.
Keywords: search costs; price obfuscation; diamond retail; data mining; pricing; revenue management search costs; price obfuscation; diamond retail; data mining; pricing; revenue management
MDPI and ACS Style

Mamonov, S.; Triantoro, T. Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study. J. Theor. Appl. Electron. Commer. Res. 2018, 13, 15-28. https://doi.org/10.4067/S0718-18762018000200103

AMA Style

Mamonov S, Triantoro T. Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study. Journal of Theoretical and Applied Electronic Commerce Research. 2018; 13(2):15-28. https://doi.org/10.4067/S0718-18762018000200103

Chicago/Turabian Style

Mamonov, Stanislav; Triantoro, Tamilla. 2018. "Subjectivity of Diamond Prices in Online Retail: Insights from a Data Mining Study" J. Theor. Appl. Electron. Commer. Res. 13, no. 2: 15-28. https://doi.org/10.4067/S0718-18762018000200103

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