Machine learning reduces language barriers in global trade, research shows

Machine learning reduces language barriers in global trade, research shows

A forthcoming Management Science paper from researchers at Olin Business School draws a direct connection between language translation driven by artificial intelligence and an increase in international trade. Analyzing data from online e-commerce site eBay, the paper is among the earliest tangible signs that AI and machine learning are living up to their promise.

eBay auction items affiliated with a cause command higher prices, study shows

It’s long been assumed that people are willing to pay more for an item if they know a portion of the proceeds will go to charity. But do they really? Two professors from the Olin School of Business at Washington University in St. Louis collected data from eBay auctions. They compared prices of items on eBay’s regular auction with items auctioned through its “Giving Works” program where sellers choose to donate part of their earnings to a non-profit of their choosing. They found out that buyers are willing to pay a 5 percent premium on average for those items linked to a cause. More…

High profile patent cases like those against eBay and Blackberry important for encouraging innovation

David Kilper / WUSTL PhotoThreat of injunctions can be beneficial in cases like eBay and BlackBerry, says WUSTL expert F. Scott Kieff.The threat of an injunction to protect patented technology, as seen in eBay v. MercExchange, is what drives infringers and patentees to strike deals — sometimes on the steps of the courthouse — because shutting down the business would lose money for both sides, says F. Scott Kieff, J.D., an associate professor of law at Washington University in St. Louis. These deals, he points out, are what drive innovation. More…