This paper estimates how overall consumer spending responds to changes in gasoline prices. It uses the differential impact across consumers of sharp drop prices 2014 for identification. estimation strategy is implemented using comprehensive, high-frequency, transaction-level data a large panel individuals. The average estimated marginal propensity consume (MPC) out unanticipated, permanent shoc...

A number of mechanisms have been proposed to explain the coexistence of species engaging in exploitative competition. The Armstrong-McGehee mechanism relies on different levels of nonlinearity in functional response between competing consumers and their ability to avoid competitive exclusion through temporal resource partitioning during endogenously generated fluctuations. While previous studie...

This paper develops a theoretical model of optimal effort in consumer choice. The model extends previous consumer choice models in that the consumer not only chooses a product, but also decides how much effort to apply to a given choice problem. The model yields a unique optimal level of effort, which depends on the consumer’s cost of effort, the expected utility gain of a correct choice, and t...

W address the value of quick response production practices when selling to a forward-looking consumer population with uncertain, heterogeneous valuations for a product. Consumers have the option of purchasing the product early, before its value has been learned, or delaying the purchase decision until a time at which valuation uncertainty has been resolved. Whereas individual consumer valuation...

This paper discusses consumer response to product visual form within the context of an integrated conceptual framework. Emphasis is placed on the aesthetic, semantic and symbolic aspects of cognitive response to design. The accompanying affective and behavioural responses are also discussed and the interaction between cognitive and affective response is considered. All aspects of response are p...

Advances in data collection have made it increasingly easy to collect data on consumer-level purchases that are linked to those same customers’ advertising exposures. However, advances in advertising response modeling (i.e., marketing mix modeling) have lagged behind the availability of this granular data. Extending extant models to multi-channel consumer-level data, we develop a Bayesian Tobit...

This paper examines the equilibrium degree of flexibility adopted by firms competing in oligopolistic product markets in which the value of flexibility arises from the initial presence of uncertainty over consumer preferences and its eventual resolution. The equilibrium choice of flexible mode depends on ( ) the following factors: 1 the cost of switching product design in response to ( ) reveal...

This paper examines the power of business and consumer survey indicators in predicting retail activity in Croatia. A brief overview of business and consumer surveys is presented, followed by the conceptual logic behind their use in predicting related macroeconomic variables. Detailed elaboration of methodology used is presented next. The main model used for the analysis is a bivariate vector au...

There is limited systematic research on managerial response strategies to online consumer complaints and negative e-WOM. In this paper, we synthesize equity theory, service recovery theory and observational learning theory to develop our theoretical model that explores the mechanism through which online consumer complaints influences consumer attitudes and the mechanisms through which manageria...