Refund depth may influence the effectiveness of a price guarantee when a store offers to reimburse customers more than the price difference. Using an experimental study that features real stores with high credibility, this article shows that a simple price-matching guarantee has no effect on...

Many retailers communicate about their societal engagements to improve their image. Yet, overwhelmed by these more or less well-founded societal claims, consumers get troubles to identify truly responsible retailers, making societal communication probably less efficient. Based upon the...

Many firms, especially retailers, communicate about their societal engagements toimprove their image. Yet, overwhelmed by these more or less well-founded societal claims,consumers get troubles to identify truly responsible retailers, making societal communicationless efficient. To better...

We examine the impact, on commodity derivative markets, of two financial crises: the Subprime crisis and the bankruptcy of Lehman Brothers. These crises are "external" for commodity markets: they appeared in the financial sphere. Still, because now commodity markets are highly integrated,...

This paper proposes a new empirical methodology for computing a cross-market index – coined CMI – based on the Factor DCC-model. This approach solves both problems of treating high-dimensional data and estimating time-varying conditional correlations. We provide an application to a...

We consider a demand based theory along the lines of Murphy et al. (1989) to study the interaction between income inequalities and trade patterns. We analyze the effect of redistributive policies on the production patterns and welfare. We distinguish an intensive and an extensive channels...