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If producers have more information than consumers about goods' attributes, then they may use non-price (rather than … conditions. Although consumers should be indifferent between equivalent changes in goods' prices and quantities, empirical … evidence suggests that consumers often respond differently to price changes and equivalent quantity changes. We offer a …
Persistent link: https://www.econbiz.de/10011525750
Managers like to think well of themselves, and of the firms that employ them. However, positive illusions can bias a manager's evaluation of market outcomes, self-servingly crediting success on the superior quality of one's own product but blaming failure on the aggressive price of a...
Persistent link: https://www.econbiz.de/10010341101
pricing but also alters firms' strategic incentives. We show that exclusive access to a list of consumers can provide … lists of consumers, exclusive data availability intensifies market competition. …
Persistent link: https://www.econbiz.de/10012104125
Prices that end with 9, also known as psychological price points, are common, comprising about 70% of the retail prices. They are also more rigid than other prices. We take advantage of a natural experiment to document an emergence of a new price ending that has the same effects as 9-endings. In...
Persistent link: https://www.econbiz.de/10011642585
The importance of knowledge and skills in meeting new challenges in production and distribution is particularly evident in today’s market, which is characterized by a saturation of products and strong competition. To be successful in the market, companies must stand out and be creative and...
Persistent link: https://www.econbiz.de/10009770333
includes a share of the consumers in the market around one of the firms. Data are never sold exclusively. Despite the data are … to its competitors. Such market outcome is not socially optimal, and a regulator that aims to maximise consumers and …
Persistent link: https://www.econbiz.de/10012695129
Increased sales due to promotions could be at the expense of competitors: such sales come from consumers with … relatively weak brand preferences. However, increased sales from brand loyal consumers could well cannibalize sales of the … promoted brand. An unintended consequence of promotions is that loyal consumers who otherwise would be willing to pay high …
Persistent link: https://www.econbiz.de/10012856272
We consider a firm that sells a product with a short life cycle to time-sensitive customers. The customers' product valuations decrease over time and they are grouped into different classes according to their delay sensitivities, the marginal decrease of their product valuation over time. The...
Persistent link: https://www.econbiz.de/10012856804
pricing but also alters firms' strategic incentives. We show that exclusive access to a list of consumers can provide … lists of consumers, exclusive data availability intensifies market competition …
Persistent link: https://www.econbiz.de/10012861421
An important concern is that algorithms can inadvertently discriminate against minority groups and reinforce existing inequality. Typically, the worry is that when classification algorithms are trained on a dataset that itself reflects bias this may reinforce bias. However, in the world of...
Persistent link: https://www.econbiz.de/10012837722