In this paper, the authors consider a multi-period rational expectations model in which risk-averse investors differ in their information on past transaction prices (the ticker). Some investors (insiders) observe prices in real-time whereas other investors (outsiders) observe prices with a delay.

Ce papier s’appuie sur des théories de cognition numérique pour étudier les erreurs de rappel de prix faites par les enfants. L’objectif est, entre autre, de souligner les caractéristiques du prix qui sont sources d’erreurs et d’analyser la structure même de ces erreurs afin de...

Warm-glow refers to other-serving behavior that is valuable for the actor per se, apart from its social implications. We provide axiomatic foundations for warm-glow by viewing it as a form of preference for larger choice sets driven by one's desire for freedom to act selfishly. Specifically, an...

At a very early age, the child becomes a real consumer and the prices becomes part of his daily basis. This exploratory study shows that the child acquires a knowledge of prices through a non linear and non cumulative training, marked out by formative incidents. He uses measures and strategies...

The literature from psychology and gerontology suggests that older persons have reduced cognitive abilities, and an increased risk aversion. On this basis, we predict that their decision process will be shrunk, in three manners: a smaller consideration set, a focus on the previous brand (leading...

On average, respondents who give a positive answer to a binary free choice attitude question are NOT more likely, if surveyed again, to respond positively than to response negatively. However, stronger brands obtain more repeated positive answers. Our model shows why these two effects have to...

This paper presents the building and validation of a new personality inventory measuring 23 traits of personality and dedicated to market research applications. <p> Validation has been realized with two consumer panels, managed by Mediametrie and BVA institute. <p> The main objective of the research...</p></p>

Perfumes introduced decades ago continue to compete against recently introduced perfumes. In this high involvement category, using a large survey and a conditional logit model, the authors show that the probability of choosing a long-established perfume, rather than a recently introduced one,...

The purpose of this paper is to present PLS Path Modeling, to describe the various options of LVPLS 1.8 and PLS-Graph 3.0 for carrying out a path model, and to comment the output of both software. PLS-Graph 3.0 is actually based on LVPLS 1.8. As an added value, PLS-Graph has a very friendly...

Reference price research suggest that consumers memorize and recall price information when selecting brands for frequently purchased products. In this study, we show that previous price-knowledge surveys provided imperfect estimates of reference price. Further, we propose to use a combination of...