Using British panel data, we explore the finding that households often expect theirÂ…financial position to remain unchanged compared to other alternatives, using a generalised middle inflated ordered probit (GMIOP) model. In doing so we account for the tendency of individuals to choose...

The research examined the impact of social media; social networking theory, word of mouth¸ feedback loop, and creditability content on the consumer buying behavior in Pakistan. The structured questionnaire was shared using convenience sampling between 650-700 participants. However, received 392...

Consumers commonly seek information from critic and consumer reviews when new product quality remains uncertain. However, consumer reviews are endogenous and may be subject to potential biases (e.g., self-selection). In this paper, we propose a new dynamic structural model where forward-looking...

'Frequent-buyer' type of rewards program is a commonly used marketing tool for companies to compete for market shares. It also provides an unique environment for studying consumer's forward-looking behavior. The consumer's problem on accumulating reward points can be formulated as a stationary...

Understanding how forward-looking consumers respond to price promotions in storable goods markets is an important area of research in empirical marketing and industrial organization. In prior work, researchers have assumed that consumers in these markets are very forward-looking, and calibrated...

As information technology improves rapidly and becomes more accessible, it becomes much easier for consumers to gather product in-formation and spend more time thinking about how to get the most out of their budget constraints. This means that consumers are getting “smarter” and more...

Models of consumer learning and inventory behavior have both proven to be valuable for explaining consumer choice dynamics. In their pure form these models assume consumers solve complex dynamic programming (DP) problems to determine optimal choices. For this reason, these models are best viewed...

This study aims to explore the main reasons of consumption of luxury branded goods. The research also gives an insight upon the main motivational values towards purchasing luxury branded products. The method chosen for analyzing the raw data collected through offline and online questionnaire...

Social media is an important source of product information for many users. Marketing in social media is based not only on building a community around the brand, but social media is used as a way to reach a defined group of users with a marketing message. These users are shown content, including...

Today’s world faces many challenges that may be solved by using the principles of bioeconomy. Bioeconomy has had a multi-disciplinary approach with the objective of an integrated scope, namely, to achieve sustainable development. In a knowledge-based economy, the link between sustainable...