Experimental Markets for Product Concepts

Market prices are well known to efficiently collect and aggregate diverse information regarding the value of commodities and assets. The role of markets has been particularly suitable to pricing financial securities. This article provides an alternative application of the pricing mechanism to marketing research - using pseudo-securities markets to measure preferences over new product concepts. Surveys, focus groups, concept tests and conjoint studies are methods traditionally used to measure individual and aggregate preferences. Unfortunately, these methods can be biased, costly and time-consuming to conduct. The present research is motivated by the desire to efficiently measure preferences and more accurately predict new product success, based on the efficiency and incentive-compatibility of security trading markets. The article describes a novel market research method, pro-vides insight into why the method should work, and compares the results of several trading experiments against other methodologies such as concept testing and conjoint analysis.

Segmentation and Alignment of Speech and Sketching in a Design Environment

Sketches are commonly used in the early stages of design. Our previous system allows users to sketch mechanical systems that the computer interprets. However, some parts of the mechanical system might be too hard or too complicated to express in the sketch. Adding speech recognition to create a multimodal system would move us toward our goal of creating a more natural user interface. This thesis examines the relationship between the verbal and sketch input, particularly how to segment and align the two inputs. Toward this end, subjects were recorded while they sketched and talked. These recordings were transcribed, and a set of rules to perform segmentation and alignment was created. These rules represent the knowledge that the computer needs to perform segmentation and alignment. The rules successfully interpreted the 24 data sets that they were given.