Choudhary, Ali; Karlsson, Thorlakur; Zoega, Gylfi - Birkbeck, Department of Economics, Mathematics & Statistics - 2009
This paper uses survey data from Iceland on 884 firms to test for the theory of customer markets proposed by Phelps and Winter (1970) and Okun (1981). The results provide support for the customer market theory in that managers agree that customers are valuable to firms – they rank them second...