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Emergency purchasing situations: implications for consumer decision-making

Samson, Alain; Voyer, Benjamin G. - London School of Economics (LSE) - 2014

This article introduces the Emergency Purchasing Situation (EPS) as a distinct buying context. EPSs stem from an unexpected event (unanticipated need or timing of a need), as well as high product importance, which are associated with a short time frame for consumer decision-making. Our...

Persistent link: https://www.econbiz.de/10011126285

Persuading skeptics and reaffirming believers

Alonso, Ricardo; Câmara, Odilon - London School of Economics (LSE) - 2014

In a world where rational individuals may hold different prior beliefs, a sender can influence the behavior of a receiver by controlling the informativeness of a signal. We characterize the set of distributions of posterior beliefs that can be induced by a signal, and provide necessary and...

Persistent link: https://www.econbiz.de/10011126024

Two minds, three ways: dual system and dual process models in consumer psychology

Samson, Alain; Voyer, Benjamin G. - London School of Economics (LSE) - 2012

Dual system and dual process views of the human mind have contrasted automatic, fast, and non-conscious with controlled, slow, and conscious thinking. This paper integrates duality models from the perspective of consumer psychology by identifying three relevant theoretical strands: Persuasion...

Persistent link: https://www.econbiz.de/10011126470

Equilibrium bids in sponsored search auctions: theory and evidence

Borgers, Tilman; Cox, Ingemar; Pesendorfer, Martin; … - London School of Economics (LSE) - 2013

This paper presents a game theoretic analysis of the generalized second-price auction that the company Overture operated in 2004 to sell sponsored search listings on search engines. We construct a model that embodies few prior assumptions about parameters, and we present results that indicate...

Persistent link: https://www.econbiz.de/10011126718

Factor residuals in SUR regressions: estimating panels allowing for cross sectional correlation

Robertson, Donald; Symons, James - London School of Economics (LSE) - 2000

This paper describes a method for estimating panels by imposing a factor structure on the residuals. The method allows SUR estimation of panel models by providing a full-rank estimator of the system covariance matrix when the usual estimate is rank-deficient. We charactersie completely the...

Persistent link: https://www.econbiz.de/10010745285

Sources of systematic risk

Makarov, Igor; Papanikolaou, D. - London School of Economics (LSE) - 2008

Using the restrictions implied by the heteroskedasticity of stock returns, we identify four factors in the U.S. industry returns. The first correlates highly with the market portfolio; the second is a portfolio of stocks that produce investment goods minus stocks that produce consumption goods;...

Persistent link: https://www.econbiz.de/10010745356

Prediction and sufficiency in the model factor analysis

Abul Naga, Ramses H. - London School of Economics (LSE) - 1997

We contrast two approaches to the prediction of latent variables in the model of factor analysis. The likelihood statistic is a sufficient statistic for the unobservables when sampling arises from the exponential family of distributions. Linear predictors, on the other hand, can be obtained as...

Persistent link: https://www.econbiz.de/10010745989

Minimum wages and employment

Keil, Manfred; Robertson, Donald; Symons, James - London School of Economics (LSE) - 2001

This paper investigates the effect of minimum wages on employment using a panel of US state-based data. We estimate a minimalist dynamic version of the specification implied by neo-classical theory. We find statistically and economically significant effects of minimum wages on youth employment....

Persistent link: https://www.econbiz.de/10010746492

Pairwise likelihood estimation for factor analysis models with ordinal data

Katsikatsou, Myrsini; Moustaki, Irini; Yang-Wallentin, Fan - London School of Economics (LSE) - 2012

Pairwise maximum likelihood (PML) estimation method is developed for factor analysis models with ordinal data and fitted both in an exploratory and confirmatory set-up. The performance of the method is studied via simulations and comparisons with full information maximum likelihood (FIML) and...

Persistent link: https://www.econbiz.de/10011071409

Non-farm diversification and rural poverty decline: a perspective from Indian sample survey and village study data

Himanshu, Himanshu; Lanjouw, Peter; Mukhopadhyay, Abhiroop - London School of Economics (LSE) - 2011

This paper studies the evolution of the rural non-farm sector in India and its contribution to the decline of poverty … close study over a period of six decades. Sample survey data indicate that the non-farm sector in rural India has grown … in India as both particularly closely linked to rural non-farm development and recording particularly high rates of urban …

Persistent link: https://www.econbiz.de/10010745048