Since the advent of the discounted utility (DU) model economists have thought about intertemporal choice in very specific terms. DU assumes that people make explicit tradeoffs between costs and benefits occurring at different points in time. While this explicit tradeoff perspective is simple and...

This paper develops an alternative approach for demand estimation. Taking willingness to pay as model primitive, it establishes a general and yet analytically simple demand function, and proposes an estimation procedure that uses survey to solicit consumers' willingness to pay with which the...

In this paper we present a classroom exercise where students can solve the basic two-period consumer choice model using the Excel-Solver, and explore the main features of the model. We also include a static comparative analysis and a borrowing constraint in the optimization problem

Emotions were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory basically abolished emotions, behavioural economics more recently reintroduced emotions in utility theory. Beyond utility theory, economic theorists use...

Post-purchase consumer regret includes outcome regret and process regret. The aim of present study was to examine relationships between consumer regret, as indexed by the Post-Purchase Consumer Regret Scale (PPCR scale), attentional, motor and non-planning impulsivity, as measured by the Barratt...

Die vorliegende Studie untersucht, welche Komponenten der Dienstleistungsqualität einen Einfluss auf die Zufriedenheit und Verhaltensabsichten von Mitgliedern in deutschen Reitvereinen haben. Für diese Untersuchung wird ein Strukturgleichungsmodell aufgestellt und das Partial Least...

How can economic theory explain the reasons why consumers adopt innovations? Using the example of innovations in washing machines two approaches are compared. The first focuses in the manner of household production theory on changes in constraints without specifying preferences, leading to the...

A characteristic feature of economic development is the ever changing structure of consumption patterns. Reducing the explanation of this phenomenon to changing prices, finally caused by changes in the availability of goods (or characteristics), would neglect a major force driving this change,...

The rapid changes in Malaysian banking system have created a new dimension in the banking industry with the emergence of Internet banking. The study also explores the consumer's adoption behaviour driven by the evolution of new, banking technology in Malaysia. The result implies that a social...

Post-purchase consumer regret includes outcome regret and process regret. The aim of present study was to examine relationships between consumer regret, as indexed by the Post-Purchase Consumer Regret Scale (PPCR scale), attentional, motor and non-planning impulsivity, as measured by the Barratt...