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Normative models typically suggest that prices rise in periods of high demand and cost. Yet in many markets, prices fall when demand or costs rise. This inconsistency occurs because the normative models assume that competitive intensity does not change with demand and cost conditions over time....
Persistent link: https://www.econbiz.de/10014029164
The well documented phenomenon of countercyclical prices goes against intuition as basic economic theory predicts a price increase when there is an outward shift in the demand curve. In this research, we provide a consumer heterogeneity based explanation for why the prices of seasonal products...
Persistent link: https://www.econbiz.de/10012896466
Retailers determine the assortment for a mix of product categories in a particular space; e.g., the checkout aisle, end-of-aisle shelves, or freezer space. Within such a “target” space, shoppers are exposed to a selection of product categories that are not necessarily correlated in consumption...
Persistent link: https://www.econbiz.de/10014038517
We review the importance of structural modeling for the purposes of simulation of the effects of changes in marketing policy. We pay particular attention to the aspects of structural modeling which present unique challenges for researchers in marketing. We also catalogue some of the advantages...
Persistent link: https://www.econbiz.de/10014028950
In many service industries, firms introduce three-part tariffs to replace or complement existing two-part tariffs. As opposed to two-part tariffs, three-part tariffs offer allowances, or “free” units of the service. Behavioral research suggests that the attributes of a pricing plan may...
Persistent link: https://www.econbiz.de/10014046319
Persistent link: https://www.econbiz.de/10010415494
How much economic stimulus does tourism provide by generating jobs in various local industry sectors? Using data across 43 U.S. metropolitan statistical areas during 1987-2006, we analyze the impact of tourism inflows - proxied by the number of hotel rooms sold - on the employment in 22...
Persistent link: https://www.econbiz.de/10013114021
We study how summer internship application choices of MBA students at a major university are influenced by the application choices made by their fellow students. We develop a simultaneous model of each individual's choice as a function of other students' choices. Our model of interdependence in...
Persistent link: https://www.econbiz.de/10013158810
Demand for products is often modeled as a function of product attributes. We propose that demand for experiential or hedonic products be modeled also as a function of “emotional product attributes” or emotions that a product might elicit from consumers. Our category of interest is the U.S....
Persistent link: https://www.econbiz.de/10013159649
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