We study the real business cycles in China between 1954-2006, and examine the changes after China’s market-oriented reforms starting in 1978. We overcome some data problems and find that the economic volatility is generally moderated after 1978. However, the relative volatility of each...

This paper investigates the impact of short sale constraints on stock returns associated with the tick-test rule in the NYSE using REG SHO daily short selling data. The results suggest removing the tick-test rule for so called 'pilot' stocks mitigates short-term stock overvaluation by...

This research examines the role of imagination difficulty on the evaluation of really new products (RNPs) in comparison to incrementally new products (INPs). We extend past research on accessibility utilizing an anticipatory approach where consumers look forward and generate mental images for...

In this research, the authors examine the impact of imagination-focused visualization on the evaluation of really new products (RNPs) - that is, products that provide novel benefits but involve high learning costs. They compare imagination-focused visualization with memory-focused visualization...

This paper examines the interplay of social and temporal distance on consumers’ responses to others’ recommendations. Drawing on research on psychological distance and the “fit” literature, the authors hypothesize that others’ recommendation is more persuasive when the construal levels...

Purchasing products that consumers have not used before (e.g., baby stroller for first time parents or a new product like an iPad) can be a challenge for consumers. In this article, the authors examine how mentally simulating two specific aspects of a product - the product usage process vs. the...

Prior research has established that categorization plays a central role in new product learning (Sujan, 1985). Very little is known, however, about the operation of this commonly studied category-based learning process under conditions of categorization ambiguity. Categorization ambiguity exists...

Prior research on intertemporal choice has demonstrated that people’s preferences can be impacted by the temporal distance. Specifically, Trope and Liberman (2003) shows that when we make a choice for the future, we tend to think much more about how desirable a certain option is. However, when...