Repeat purchasing customers are more frequently informed of their regular firm's price than are other customers. Consequently customers leave the firm faster following a price increase than they arrive following a price decrease. Previous models treat the rate of customer acquisition following a...

A macroeconomic model is developed in which the psychological concept of loss aversion is incorporated into workers' preferences. The impact of monetary policy in the presence of loss aversion depends on the specification of the reference wage. The plausible specification that a worker's...