The increased transparency of electronic channels is barely reflected in research investigating online consumer behaviour. To address this issue, we introduce two different types of price sensitivity: vendor-related and market-related price sensitivity. Price sensitivity is generally assumed to vary with product quality. While product quality is hard to discern for some product types, online co...

A recent strategy carried out by the aircraft industry to reduce the total cost of the new generation fighters has consisted in the development of a single airframe with different technical and operational specifications. This strategy has been designed to reduce costs in the Research, Design and Development phase with the ultimate objective of reducing the final unit price per aircraft. This i...

In estimating the cost-effectiveness of diagnostic procedures, it is helpful to treat diagnostic information as a commodity with a unit price. The amount of useful information provided by a test result can be measured in binary units (bits), and the unit price of the information produced by the test result can be expressed in dollars per bit in much the same way that the price of gold is given ...

We present two systems of differential equations implied by two different models of price discovery. One is the basic Walrasian model, where prices adjust to a security’s own excess demand. The basic Walrasian model does not feature cross-security effects (the price of one security reacts to excess demand in another). The alternative is a model where demand adjusts autonomously to perceived exc...

Recent consumer research suggests that lowering search costs for quality information reduces consumer price sensitivity by creating greater perceived differentiation among brands (e.g., Kaul and Wittink 1995; Lynch and Ariely 2000). We argue that lowering quality search costs by smart agents can have the opposite effect on differentiation and price sensitivity. Smart agents screen through a uni...

Purpose – The purpose of this paper is to examine how consumers respond differently to “scratch and save (SAS)” promotions versus “tensile price claims (TPC).” SAS promotions provide a possible discount (determined probabilistically) but conceal the exact amount until purchase. Tensile price claims (e.g. “up to 25 percent off on items marked with a red tag”) make imprecise price promotional cla...

This study aims to analyze the effect of Health benefit, Brand Quality, Trust, and Price by mediating Perceived Value on Buying Intention. according requirements in known population 1.1 million people have visited, then based Krejcie Morgan table, number samples that must be required is 384 respondents. The data used this were Results obtained from Partial Least Square (PLS) approach for analys...

Pain has always been a major issue during dressing changes in patients with both acute and chronic wounds. Patients describe wound-related pain as all-encompassing and one of the most devastating aspects of living with a chronic wound (Price et al, 2008). The European Wound Management Association (EWMA) position document, Pain at Wound Dressing Changes (Moffat et al, 2002) identified dressing r...