A random shock excludes reverse causality and reduces omitted variable bias. Yet a natural experiment does not identify random exposure to treatment, but the reaction to a random change from baseline to treatment. A lab experiment comparing higher certainty with higher severity of punishment for...

Consumer products and services can often be described as mixtures of ingredients. Examples are the mixture of ingredients in a cocktail and the mixture of different components of waiting time (e.g., in-vehicle and out-of-vehicle travel time) in a transportation setting. Choice experiments may...

A random shock excludes reverse causality and reduces omitted variable bias. Yet a natural experiment does not identify random exposure to treatment, but the reaction to a random change from baseline to treatment. A lab experiment comparing higher certainty with higher severity of punishment for...

Controversies surrounding the European sovereign debt crisis loom prominent in the public debate. From a legal perspective, the no-bailout rule and the ban on monetary financing constitute the main principles governing the legality review of financial assistance and liquidity measures....

One of the key problems of researching the high-frequency financial markets is the proper data format. Application of the candlestick representation (or its derivatives such as daily prices, etc.), which is vastly used in economic research, can lead to faulty research results. Yet, this fact is...

Consumer products and services can often be described as mixtures of ingredients. Examples are the mixture of ingredients in a cocktail and the mixture of different components of waiting time (e.g., in-vehicle and out-of-vehicle travel time) in a transportation setting. Choice experiments may...

This paper develops more accurate and robust baseline sales estimates (sales in the absence of price promotion) using a dynamic linear model (DLM) enhanced with a multiple structural change model (MSCM). We first discuss the value of utilizing aggregated (chain-level) vs. disaggregated...

Internet recommender systems are popular in contexts that include heterogeneous consumers and numerous products. In such contexts, product features that adequately describe all the products are often not readily available. Content-based systems therefore rely on user-generated content such as...

This paper develops more accurate and robust baseline sales estimates (sales in the absence of price promotion) using a dynamic linear model (DLM) enhanced with a multiple structural change model (MSCM). We first discuss the value of utilizing aggregated (chain-level) vs. disaggregated...

This paper presents the Theory of Retailer Price Promotions (TRPP) for consumer packed goods (CPGs). Specifically, the theory states that incremental retail sales generated by promotional price discounts are entirely incremental to the promoting manufacturer, the promoting retailer and the...