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Scott Fay

Scott Fay

Professor of Marketing

315-443-3456
Room: 633
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Ph D, University of Michigan (Economics)

Scott Fay is a Professor of Marketing in the Whitman School of Management at Syracuse University. Professor Fay received his Ph.D. in Economics from the University of Michigan in 2001. He previously taught at the University of Florida. His research has been published in such prestigious outlets as Marketing Science, Management Science, the American Economic Review and the Journal of Retailing. In total, he has published 20+ papers and his research has been cited more than 2000 times according to Google Scholar. He serves on the editorial board at Marketing Science, the Journal of Retailing and the Journal of Interactive Marketing. He has received Management Science's Distinguished Service Award three times, is a four-time recipient of the Meritorious Service Award from Management Science, was named an Outstanding Reviewer for the Journal of Production & Operations Management, and is a frequent ad hoc reviewer for several other journals. In addition to his academic pursuits, Scott thrives on being a loving husband to his wonderful wife, Kara, and a devoted father to his three beautiful daughters, Mika, Brianna, and Bethany. Professor Fay’s research approach is to develop parsimonious analytical models to gain fundamental insights about important substantive issues faced by firms and consumers. He is particularly interested in examining how firms can harness the power of new technologies. For instance, his paper, "Partial Repeat Bidding in the Name-Your-Own-Price Channel" (Marketing Science, 2004), is one of the first papers to formally model the Name-Your-Own-Price (NYOP) pricing format (as exemplified by Priceline.com) from a firm's perspective. Another paper, “Probabilistic Goods: A Creative Way of Selling Products and Services” (with Jinhong Xie, Marketing Science, 2008, which was a Finalist for the INFORMS Society for Marketing Science 2017 Long Term Impact Award), considers the impact of product opacity on consumer demand and profitability. This paper finds that introducing opaque (or “probabilistic”) products has the potential to benefit many sellers. Other topics Professor Fay pursues include the personalization process, marketing in social media, shipping policies, and service quality.

Research Topics

  • Price competition
  • Reverse auctions
  • E-commerce
  • Retail strategy
  • The economics of information and industrial organization

While at Whitman, Professor Fay has taught the Principles of Marketing, both for business majors (MAR 255) and for non-business majors (MAR 301), and the recitation sections for the Integrated Core (SCM 265). Dr. Fay has also taught seminars for doctoral students (MAR 960). At the University of Florida, Professor Fay taught Introduction to Retail Systems (MAR 3231) and Marketing Management (MAR 4803), which is the Capstone course for marketing majors.

Professor Fay’s research approach is to develop parsimonious analytical models to gain fundamental insights about important substantive issues faced by firms and consumers. He is particularly interested in examining how firms can harness the power of new technologies. For instance, his paper, "Partial Repeat Bidding in the Name-Your-Own-Price Channel" (Marketing Science, 2004), is one of the first papers to formally model the Name-Your-Own-Price (NYOP) pricing format (as exemplified by Priceline.com) from a firm's perspective. Another paper, “Probabilistic Goods: A Creative Way of Selling Products and Services” (with Jinhong Xie, Marketing Science, 2008, which was a Finalist for the INFORMS Society for Marketing Science 2017 Long Term Impact Award), considers the impact of product opacity on consumer demand and profitability. This paper finds that introducing opaque (or “probabilistic”) products has the potential to benefit many sellers. Other topics Professor Fay pursues include the personalization process, marketing in social media, shipping policies, and service quality.

Working Papers
  • "The Value Relevance of Buy-Online-and-Pickup-In-Store", (with Xiang, K., Feng, C.)
Selected Publications
  • "When do we need higher educated salespeople? The role of work experience", Review of Managerial Science, 2021 (with Feng, C., Xiang, K.)
  • "The Impact of Supply Disruption Risk on a Retailer’s Pricing and Procurement Strategies in the Presence of a Substitute Product", Journal of Retailing, 2021 (with Gheibi, S.)
  • "Chief Stores Officer and Retailer Performance", Journal of Retailing and Consumer Services, 2021 (with Feng, C.)
  • "Store closings and retailer profitability: A contingency perspective", Journal of Retailing, 96(3), 411-433, 2020 (with Feng, C.)
  • "Bidding for Bidders? How the Format for Soliciting Supplier Participation in NYOP Auctions Impacts Channel Profit", Management Science, 63(12), 4324-4344, 2017 (with Zeithammer, R.)
  • "Why Offer Lower Prices to Past Customers? Inducing Favorable Social Price Comparisons to Enhance Customer Retention", Quantitative Marketing and Economics, 15(2), 123-163, 2017 (with Lee, S.)
  • "Overbidding in Electronic Auctions: Factors Influencing the Propensity to Overbid and the Magnitude of Overbidding", Journal of the Academy of Marketing Science, 44(2 (March)), 241-260, 2016 (with Feng, C., Sivakumar, K.)
  • "Inferring Salesperson Capability Using Stochastic Frontier Analysis", , 36(3), 294-306, 2016 (with Feng, C.)
  • "The role of customer expectations in name-your-own-price markets", Journal of Business Research, 68(3), 675-683, 2015 (with Lee, S.)
  • "The Effect of Probabilistic Selling on the Optimal Product Mix", Journal of Retailing, 91(3), 451-467, 2015 (with Xie, J., Feng, C.)
  • "Timing of Product Allocation: Using Probabilistic Selling to Enhance Inventory Management .", Management Science, 61(2 (February)), 474 - 484, 2015 (with Xie, J.)
  • "Probabilistic selling vs. markdown selling: Price discrimination and management of demand uncertainty in retailing", International Journal of Research in Marketing, 2014 (with Rice, D., Xie, J.)
  • "The Role of Marketing in Social Media: How Online Consumer Reviews Evolve", Journal of Interactive Marketing, 25(2), 85-94, 2011 (with Chen, Y., Wang, Q.)
  • "Managing Service Expectations in Online Markets: A Signaling Theory of E-tailer Pricing and Empirical Tests", Journal of Retailing, 86(2), 184-199, 2010 (with Mitra, D.)
  • "The economics of buyer uncertainty: Advance selling vs. probabilistic selling", Marketing Science, 29(6), 1040-1057, 2010 (with Xie, J.)
  • "Implications of expected changes in the seller’s price in name-your-own-price auctions", Management Science, 55(11), 1783-1796, 2009 (with Laran, J.)
  • "The Value of the Structural Power of the Chief Information Officer in Enhancing Forward-Looking Firm Performance", Journal of Management Information Systems (with Feng, C., Patel, P.)
  • "The Value Relevance of Narrative R&D Disclosure", Journal of Business Research (with Feng, C., Kashmiri, S.)

Awards and Honors

  • Distinguished Service Award - Management Science (2019)
  • Distinguished Service Award - Management Science (2018)
  • Distinguished Service Award - Management Science (2017)
  • Finalist for the Long Term Impact Award - INFORMS Society for Marketing Science (2017)
  • Outstanding Reviewer - Journal of Production & Operations Management (2016)
  • Meritorious Service Award - Management Science (2015)
  • Meritorious Service Award - Management Science (2014)
  • Whitman Research Fellow - Whitman (2014)
  • Distinguished Service Award - Management Science (2012)
  • Keynote speaker for Phi Kappa Phi initiation - Syracuse University (2012)
  • Winner of Capsim’s Professor Scholarship Challenge - Capsim Simulations, Inc. (2012)
  • Award for the Best Paper published in the Journal of Interactive Marketing - Journal of Interactive Marketing (2011)
  • Meritorious Service Award - Management Science (2010)
  • Meritorius Service Award - Management Science (2009)
  • Summer Research Fellow - University of Michigan (1995)
  • Honors Program (includin g Senior Thesis) - Phi Beta Kappa, Phi Kappa Phi. University of Tulsa (1993)