Business

Intensity of bidding drives desire to win and willingness to pay, U of A marketing researchers find.

14
November
2018

By MICHAEL BROWN

How fast a competitor counters your bid during an auction will increase your desire to win—and likely your willingness to pay for the auctioned product, according to a new study by a pair of University of Alberta business professors.

“The more intense bidding is in an auction, the more likely it is that a buyer will be gripped by bidding frenzy,” said U of A marketing professor Peter Popkowski Leszczyc, who carried out the study with marketing colleague Gerald Häubl.

The researchers invited people to participate in what they were told was a live, campus-wide online auction. In actuality, the subjects were simply bidding against a program designed to oppose bids at various speeds.

“We found the quickness of being outbid by someone else causes consumers to perceive an auction as being more intensely competit...

Headlines

RSS feed - Headlines (opens in new window) View all headlines - Headlines
04
December
2018

U of A student hopes her app will entice more people to try vegetarian dishes when dining out

Hazel Foerstner’s app will list vegetarian dishes in all local restaurants; hopes to launch by end of year.

Some of the best business ideas are born out of hunger, literally. While in Europe during the summer of 2017, Hazel Foerstner ate only potato chips for three straight days. “I was starving,”
03
December
2018

$4 million from Lockheed Martin helps U of A biofuel spinoff company forge ahead

Investment will go toward construction of Forge Hydrocarbons’ commercial-scale production facility, already underway.

A University of Alberta spinoff company producing the next generation of renewable fuels received a US$4-million investment from Lockheed Martin to help the startup build a $25-million production
30
November
2018

How Shakespeare still informs today’s family businesses

Generational squabbles, ungrateful heirs and identity crises present perennial challenges for family businesses, says U of A expert.

While established family businesses generate much of Canada’s gross domestic product and are key drivers of entrepreneurship, it’s a national tragedy that—according to a University of Alberta
29
November
2018

U of A celebrates commercial potential of research

Researchers obtained nine patents and started up 11 spinoff companies last year through TEC Edmonton.

A new type of neuromuscular electrical stimulation designed to better treat people with spinal cord injuries was one of nine patents, along with 11 spinoff companies, that were celebrated during TEC
26
October
2018

$2.3-million space opens in downtown Edmonton for U of A spinoff health companies

UAlberta Health Accelerator revs up in TEC Centre Labs.

Five years after taking his first steps into the world of entrepreneurship, Brayden Whitlock no longer has any illusions about the effort needed to be successful. “The idea is only 10 per cent of
24
October
2018

COMMENTARY || Is a $15 minimum wage worth it? Here’s what the numbers say

Different experiences with similar wage hikes in Alberta and B.C. suggest Ontario’s decision to stop at $14 was both right and wrong, say economists.

On Tuesday, Sept. 25, there were three provinces that had a $15 minimum wage scheduled to come into effect: Alberta (by 2018), Ontario (by 2019), and British Columbia (by 2021). By Wednesday, Sept.
25
September
2018

How companies can plan for accidental discoveries

It may sound paradoxical to plan for surprises, but there are things companies can do to foster the happy accidents that lead to innovation, says management expert.

While accident implies a lack of planning, a University of Alberta business professor says organizations can be proactive in managing the serendipity that leads to accidental innovation. “As
14
September
2018

How one U of A entrepreneur found the sweet spot for a flexible part-time business

Bubble Cream is a pop-up food concept that’s flourishing for busy student Steven Chen and partners.

When university students pine for the perfect weekend job, it likely includes pretty decent money—it is a fantasy, after all—and maybe a forgiving boss in case of late-night, ahem, studying on
07
September
2018

Integrating IT security into corporate culture is hard to do well but pays off in long run, study shows

Organizations that adopt “window dressing” measures leave themselves more open to data breaches over time, says security researcher.

Organizations that invest in targeted IT security measures and integrate them into their culture and processes are safer than those that routinely upgrade to get the latest and greatest technology,
01
August
2018

How two U of A students started baking up an alternative business with bugs

The dream began with a taste of grasshopper; now Camola bakery is offering a sustainable baked goods alternative to Albertans.

Will they bite? That’s usually a question entomology students ask about the insects they’re studying. But two University of Alberta bug scholars—student Silvia Ronzani and recent graduate Claudio
17
July
2018

There’s no ‘I’ in team but there is in sales, new research shows

When it comes to customer service, ‘I’ beats the corporate ‘we’ for boosting satisfaction and buying behaviour.

The adage “there is no ‘I’ in team” is a handy refrain used to emphasize the importance of teamwork in just about any setting, but new University of Alberta research shows that “I” works best alone