Marketing researchers Peter Verhoef, Tammo Bijmolt and Hans Risselada won the 2011 Best Paper Award of the Journal of Interactive Marketing. Marcel Timmer and Bart Los of the department Global Economics and Management received a EU grant of 60.000 euro to organise a major conference on globalisation.
The paper “Staying Power of Churn Prediction Models” of Peter Verhoef, Hans Risselada and Tammo Bijmolt is the winner of the 2011 Award for Best Paper published in the Journal of Interactive Marketing during 2010.
Their paper focuses on models that predict whether customers will stay loyal to a firm or product, so called churn models. Verhoef, Risselada and Bijmolt especially tested the quality of the models on the long term, or the staying power. The models were tested using customer data of two firms from different industries, namely the internet service provider and insurance markets. An important conclusion is that churn models should be adapted regularly.
The award consists of a plaque and a money prize.
Bart Los and Marcel Timmer of the department Global Economics and Management received a 60,000 euro grant from the European Commission to organise a major conference on "The Wealth of Nations in a Globalising World".
This conference will be part of a series of workshops and conferences related to the topic of "Beyond GDP: Measuring Welfare and Sustainability", a major priority of the European Commission in its Europe 2020 strategy. Many initiatives in this area are being undertaken and the project is meant to invite original contributions to the field which will lead to suggestions both for development of new statistical data and new methodological frameworks.
The grant was received by a network of 19 consortium partners, including major European National Statistical Institutes, the OECD, universities and research centres.
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