The rent of shelter accounts for approximately a third of the Consumer Price Index (CPI). Using a new housing rent index (RRI) developed by Ambrose, Coulson, and Yoshida (2014), we modify the CPI and compute the Taylor rule for the period from 2000 to 2010. With this timely rent index, Taylor rule becomes more consistent with the Federal funds rate than the conventional calculations. However, t...

This article studies the influence of product groupings on consumer preferences. Specifically, it is proposed that when each product in two groups has an equal chance of a gain, consumers prefer to choose from a group that appears more contagious (e.g., products arranged close together, similarly, or symmetrically). However, when each product in two groups has an equal chance of a loss, consume...

I develop a multi-country multi-industry model of trade that features heterogeneous consumers with non-homothetic preferences. I use the model to quantify the measurement errors in the welfare gains estimates caused by the assumption of a representative consumer (ARC). First, I reduce the world level of all trade costs by 15% and find that ARC overestimates (underestimates) the gains of the poo...

Franchise relocation and sport introduction are becoming commonplace in professional sports. However, many franchises have found that developing fan acceptance is often challenging. The fan adoption process is presented as a systematic framework that guides strategy development from creating fan awareness through adoption. An examination of the Carolina Hurricanes inaugural season (1997-1998) p...

the obligation to disclose essential information is important either in theoretical and practical approach. this means that in order to enjoy the necessary knowledge to achieve decision-making and formation of contract, the information that is effective to create legal consent should be revealed to the opposite side. in franchise agreement; violation of this obligation that is one of accessorie...