This paper examines four terms that are used a great deal by economists and demonstrates that they are often misunderstood. Not fully comprehending the meaning of these terms can result in serious problems for society. Thus, Greenspan admitted that not knowing how self-interest works resulted in...

The authors have developed an easy-to-use approach, derived from financial portfolio theory, for determining which product(s) to eliminate. This approach takes into account the effect the product deletion will have on the overall rate of return and the overall risk of the product portfolio

In a segmented waiting-line system, customers are segmented into two groups: those who are willing to wait for service and those who are willing to pay a premium to avoid a long wait. The use of waiting line segmentation has been shown to result in increased profit for the company or...

In our attempt to find the quality of a research paper, we are forced, at some point, to choose between qualitative or quantitative methods or to make a magic potion, by mixing the two methods. At the starting point of a great adventure, why not doctoral studies, this article presents a great...

The majority of popular simulated test marketing models (STM) are calibrated against empirical data obtained from the mature markets of North America and Western Europe. Not surprisingly, these models achieve much lower accuracy when directly applied in relatively unexplored emerging markets,...

In two studies, we investigate how differences in self-construal patterns affect preferences for consumption symbols through the process of self-expression. The results of Study 1 demonstrate that individuals with a dominant independent self-construal bold attitudes that allow them to express...

We develop a simple method for forecasting and benchmarking consumer trial of new products. First, we extend the exponential trial growth models used in controlled test markets to the context of national product launches. This provides a marketing science benchmark against which our new approach...

The objective of this paper is to provide an analytical framework to study the whole process of diffusion of innovations, new products or ideas: we take into account knowledge transfer in a complex society, decisional process for adoption and key features in the spread of new technologies. For...

'Daily deals' or online discount vouchers have emerged as an increasingly popular means of conducting promotions for many small and local businesses. Social coupons are daily deals that display voucher sales information in real-time and may require that a minimum number be sold for the deal to...