Should there be a right not to be manipulated? What kind of right? On Kantian grounds, manipulation, lies, and paternalistic coercion are moral wrongs, and for similar reasons; they deprive people of agency, insult their dignity, and fail to respect personal autonomy. On welfarist grounds,...

In "Marketing Information: A Competitive Analysis,'' Sarvary and Parker (1997) (S&P) [Marketing Science, 16(1): 24-38] argue that in part of the parameter space that they considered, a reduction in the price of one information product can lead to an increase in demand for another information...

This paper lays a foundation for a new theory of manipulation, based on the misprioritization of (truthful) information. Since consumers review only a subset of all available information, firms can harm consumers by prioritizing information that maximizes firms’ profits but has a smaller...

Lifestyles of today’s civilizations are mostly dominated by technology usages no matter where they reside in the globe. As a result, human-services are mostly carried out in competitive manner where Banking-services are not different. It is carried-out with business mentality that has...

In the electronic commerce market, the minimum order quantity or the minimum order value constraints are present.A minimum quantity of the commodity bundle or the minimum purchase value are to be ordered to get the commodity with or without discounts offers that is selected to buy.This acts as a...

We study asset pricing with consumption frictions. Frictions in consumption include adjustment costs which prevent a consumer from adjusting consumption freely, due to transaction costs, commitments, search and learning costs, and psychological costs. The stochastic discount factor is determined...

It is well known in the economic literature that the labor supply curve can bend backwards and, therefore, that leisure can be a Giffen good. It is also known that leisure can be a normal good. This article proves that if leisure is a Giffen good, it has to be a normal good. This result also...

Experimental work regularly finds that individual choices are not rationalized. Nonetheless, recent work shows that data collected from many individuals can be stochastically rationalized by a distribution of well-defined preferences. We study the relationship between deterministic and...

We construct a unifying theory of two-stage budgeting and bounded rationality with mental accounting features. Mental accounting and rational inattention induce behavioral wedges between first-stage and second-stage expenditure budgets. Because reviewing one’s financial activities is...

This paper empirically examines the behavioral precautionary saving hypothesis by Koszegi and Rabin (2009) stating that uncertainty about future income triggers saving because of loss aversion. We extend their theoretical analysis to also consider the internal margin, i.e., the strength, of loss...