I'm sure they're aware, but for others here: decide.com does a fantastic job at price predicting products, and is founded by the same person behind the price prediction algorithm purchased by Bing ("Farecast") and he is also a tenured professor at the University of Washington specializing in machine learning. Pretty steep competition both from an engineering and business standpoint.
The economic (consumer choice) problem that Priceonomics is aimed at solving is the "when to buy a product" problem. Plenty of products already exist to aid consumers with the "where to buy" and "what/which to buy" problems. This paper at Microsoft Research goes through the theory:
At prices like that, I might just pick up 2 or 3! But seriously, it'll be interesting to see how in the future their algorithms improve to deal low-information queries like that.
Did you read the article? Here's the important point:
From this perspective, comparison shopping may focus
consumers' attention on differences between available options, leading them to overestimate the hedonic impact of selecting a more versus less desirable option. To the extent that the process of comparison shopping focuses attention on hedonically irrelevant attributes, comparison shopping may even lead people to choose a less desirable option over a more desirable option.
Pricenomics helps you get the best/fair price for an existing thing you were already going to buy. It is purely about making a more informed decision about one item, not comparing between somewhat different products and making the wrong decision.
It would be nice if they tailored the searches a bit more to geo-location. I search for things and end up getting craigslist results for SF even though I'm in Canada.
Congrats! I just gave about 30 electronic items to someone on TaskRabbit to sell for me. Used ebay to correctly price them, but priceonomics was spot on when verifying them!
[+] [-] ajju|14 years ago|reply
Congrats guys, rock on!
[+] [-] mitchellh|14 years ago|reply
I'm sure they're aware, but for others here: decide.com does a fantastic job at price predicting products, and is founded by the same person behind the price prediction algorithm purchased by Bing ("Farecast") and he is also a tenured professor at the University of Washington specializing in machine learning. Pretty steep competition both from an engineering and business standpoint.
[+] [-] redorb|14 years ago|reply
see here: http://priceonomics.com/phones/apple/iphone-3gs/
While decide.com give me a .99 cent option and no other real value ideas of that phone
https://www.decide.com/search/iphone%25203gs/1/22818276/RELE...
[+] [-] zissou|14 years ago|reply
http://research.microsoft.com/apps/pubs/default.aspx?id=1483...
[+] [-] rjb|14 years ago|reply
Priceonomics really impressed me when it was able to price a Leica M4P and a set of P90 pickups. Decide had neither in their system.
[+] [-] joshu|14 years ago|reply
[+] [-] wensing|14 years ago|reply
We raised $1.5 million in 10 days and pretty much the whole time we didn’t feel very good.
Ten days? Didn't feel very good? That's fundraising? Wow. What can I even say to that? Congrats guys.
[+] [-] mixonic|14 years ago|reply
Admittedly, searching for "car" is vague, but this is just too funny of a result to not share :-)
Exciting!
[+] [-] midas|14 years ago|reply
How did you get that result? The javascript should autocomplete to our cars guide if you type in "car": http://cl.ly/0x0z2F393U20383s3b2G
You can manually override if you want to, but if it's not doing it by default that's a bug.
[+] [-] nknight|14 years ago|reply
[+] [-] budu3|14 years ago|reply
[+] [-] theunixbeard|14 years ago|reply
[+] [-] joseakle|14 years ago|reply
[+] [-] neilwillgettoit|14 years ago|reply
[+] [-] DTrejo|14 years ago|reply
http://www.wjh.harvard.edu/~dtg/DUNN%20GILBERT%20&%20WIL...
[+] [-] jasonshen|14 years ago|reply
From this perspective, comparison shopping may focus consumers' attention on differences between available options, leading them to overestimate the hedonic impact of selecting a more versus less desirable option. To the extent that the process of comparison shopping focuses attention on hedonically irrelevant attributes, comparison shopping may even lead people to choose a less desirable option over a more desirable option.
Pricenomics helps you get the best/fair price for an existing thing you were already going to buy. It is purely about making a more informed decision about one item, not comparing between somewhat different products and making the wrong decision.
[+] [-] jabiko|14 years ago|reply
http://tinyurl.com/7pad22b (Click the search bar to execute the code)
[+] [-] omarish|14 years ago|reply
[+] [-] adamclayman|14 years ago|reply
It's about-time for more transparency in the medical world.
http://www.nejm.org/doi/full/10.1056/NEJMp1100041
[+] [-] joshu|14 years ago|reply
[+] [-] evanm|14 years ago|reply
[+] [-] ajju|14 years ago|reply
[+] [-] Destroyer661|14 years ago|reply
[+] [-] sherm8n|14 years ago|reply
[+] [-] unknown|14 years ago|reply
[deleted]
[+] [-] galfarragem|14 years ago|reply
[+] [-] jansen|14 years ago|reply
[+] [-] sova|14 years ago|reply
tldr: $37
[+] [-] fscof|14 years ago|reply
[+] [-] midas|14 years ago|reply
[+] [-] zacharyvoase|14 years ago|reply
[+] [-] jdc|14 years ago|reply
[+] [-] joshu|14 years ago|reply
[+] [-] rohin|14 years ago|reply
Fixed:)
[+] [-] bguthrie|14 years ago|reply