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We study how the introduction of private-label brands (PLs) affects retailers' prices, demand, and profits, explicitly accounting for assortment adjustments of national brands (NBs) in retail stores. Using a detailed dataset on the U.S. beef market, we find that, when PLs are added to the...
Persistent link: https://www.econbiz.de/10012653276
We analyze structural state dependence in brand choice using variation from brand switching during stock-outs caused by … brand switching due to stock-outs. …
Persistent link: https://www.econbiz.de/10013342887
diversity of exports. Direct sales maintain a firm's unique product characteristics ("brand equity"), whereas trade through an … intermediary can take two forms - either a wholesaling arrangement that (also) maintains the exporter's unique brand but imposes a … with other firms' output and re-sold under a new private label brand created by the intermediary. This paper focuses on the …
Persistent link: https://www.econbiz.de/10009709427
We provide an explanation for a frequently observed vertical restraint in ecommerce, namely that brand manufacturers …-quality product and limits the wholesale price a brand manufacturer can charge. If, however, the branded product is not available … price is salient in the store, this aligns the retailer's incentives with the brand manufacturer's interest to make quality …
Persistent link: https://www.econbiz.de/10011717196
Persistent link: https://www.econbiz.de/10003662865
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...
Persistent link: https://www.econbiz.de/10011408429
Persistent link: https://www.econbiz.de/10003635223
This interdisciplinary paper explains how mathematical techniques of stochastic optimal control can be applied to the recent subprime mortgage crisis. Why did the financial markets fail to anticipate the recent debt crisis, despite the large literature in mathematical finance concerning optimal...
Persistent link: https://www.econbiz.de/10003807893
This article studies the equivalence between labor and consumption taxes in a stochastic context, where the government can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two-period model we show that such taxes let consumers make the...
Persistent link: https://www.econbiz.de/10003820652
This paper investigates the limit properties of mean-variance (mv) and arbitrage pricing (ap) trading strategies using a general dynamic factor model, as the number of assets diverge to infinity. It extends the results obtained in the literature for the exact pricing case to two other cases of...
Persistent link: https://www.econbiz.de/10003910456