The reference-price effect refers to the demand deviation caused by consumers’ perceived losses or gains when the current market price of a product differs from a cognitive benchmark (known as a reference price) formed by the customers based on past prices. The impact of such a reference effect on the dynamic pricing policy of a monopolist has been widely studied in the literature. However, des...

Using the DART (dialogue, access, risk, and transparency) model as a core framework of value co-creation (VCC), in context hospitality services, this study explores role VCC might have customers’ perceived (PV). The delineates two characteristics PV—perceived quality price—as sources for competitive strategy. It attempts to establish existence an effect implementation on these strategy, well in...

We develop a version of the fundamental theorem of asset pricing for discrete-time markets with proportional transaction costs and model uncertainty. A robust notion of no-arbitrage of the second kind is defined and shown to be equivalent to the existence of a collection of strictly consistent price systems.

In direct competition between national brands of consumer packaged goods (CPG), one brand often has a large local share advantage over the other despite that the products are similar. I present an explanation for these large and persistent advantages in the context of local competition on perceived quality or brand image. The main result of the analysis is a relation between varying degrees of ...

We explore variation in the prices paid by recreational hunters of trophy animals in Africa and its possible causes, including perceived rarity. Previous work has raised the possibility that extinction can result if demand rises fast enough as a species becomes rarer. We attempt to disentangle this from other inter-correlated influences affecting price. Species with larger body sizes and larger...

In 1994 Milk Marketing Boards in the UK were disbanded, their role as milk purchasers was taken by more than 100 licensed organisations. It is shown that this change resulted in an increase in the variation between producers’ milk price. The majority of dairy farmers sold milk through the Milk Marketing Boards designated successor; a farmer owned co-operative called Milk Marque. In doing so the...

We investigate Wireless LAN hot-spots based on the IEEE 802.11b protocol, considering technical and economic issues of the Radio Resource Allocation. Firstly, we discuss how to model the trade-off between perceived QoS and paid price in the users’ request, so as to represent the users as choosing the most satisfactory allocation, determined by service requirements and willingness to pay. After ...

This study explored the consumers' and vendors' perceptions about Mondia whitei roots, in Kampala city, Uganda; determined the marketing margins and the market flow of the roots in the city; documented demand and supply opportunities as well as challenges to marketing of the roots by the vendors. Seventy vendors and 70 consumers of the roots were administered with semi-structured questionnaires...