Information availability has increased consumers’ informedness, the degree to which they know what is available in the marketplace, with precisely which attributes and at precisely what price. This informedness has altered the demand side of market behavior: customers now discount more heavily when comparable products are available from competitors and when products do not meet their wants, nee...

This paper develops a conceptual framework within which the fundamental resource dynamics of an economy may be investigated. The framework has heterogeneous firms at its center, and the dynamics governing their competitive, evolutionary and entrepreneurial interactions are made the object of analysis. This approach is motivated by the desire to penetrate to the resource dynamics of a capitalist...

We develop a model to study the impact of changes in price or quality sensitivity on the firm as it introduces multiple generations of a durable product where unit costs are a convex function of quality. We incorporate the psychological processes of sensitization and habituation into a model of discretionary purchasing of replacement products motivated by past experience. When price sensitivity...

Background In the context of serious concerns over the affordability of healthcare, various authors and international policy bodies advise that strategic purchasing is a key means of improving health system performance. Such advice is typically informed by theories from the economics of organization (EOO). This paper proposes that these theories are insufficient for a full understanding o...

As companies attempt to shed old habits and begin to view procurement as a strategic resource from which a competitive advantage can be gained, there is a great deal of corporate baggage that must be shed. More importantly, there is a new mindset that must be instilled both in procurement and across the firm. Strategic supply symbolizes the importance of enterprise wide thinking where functiona...

This study investigates the manner in which corporate philanthropy affects consumer patronage toward a brand. In so doing, we propose reciprocity as a key mechanism, which manifests the effect of corporate philanthropy on patronage behavior, and examine how vicarious licensing and strategic fit would mitigate the relationship between reciprocity and patronage behavior. The results indicate that...

Pharmaceuticals are often considered as the most significant cost driver of health care expenditures and at the same time have a major impact on patients’ curative processes and outcomes. Other pieces of evidence emphasize that drugs are the input for the production of good health. They are considered as the most important and expensive element in the healthy supply chain and are more associate...

Empirical support for purchasing power parity is mixed with results dependent on the time frame and countries under examination, the methodology employed, attempts to control for aggregation bias in the data, and whether adjustments are made to account for productivity differences across nations. As a central component of macroeconomic thinking, purchasing power parity is battered and battle-wo...

pharmaceuticals are often considered as the most significant cost driver of health care expenditures and at the same time have a major impact on patients’ curative processes and outcomes. other pieces of evidence emphasize that drugs are the input for the production of good health. they are considered as the most important and expensive element in the healthy supply chain and are more associate...