Experimental analysis of choice

Experimental choice analysis continues to attract academic and applied attention. We review what is known about the design, conduct, analysis, and use of data from choice experiments, and indicate gaps in current knowledge that should be addressed in future research. Design strategies consistent with probabilistic models of choice process and the parallels between choice experiments and real markets are considered. Additionally, we address the issues of reliability and validity. Progress has been made in accounting for differences in reliability, but more research is needed to determine which experiments and response procedures will consistently produce more reliable data for various problems.Sawtooth SoftwareDecision Research     

Shop Talk: Liberalism, Consumerism, and the American Revolution

T. H. Breen. The Marketplace of Revolution: How Consumer PoliticsShaped American Independence. Oxford: Oxford University Press,2004. xviii + 380 pp. ISBN 0-19-506395-3, $30.00. The Marketplace of Revolution is the culmination of more thantwenty years of sustained inquiry by the distinguished earlyAmerican historian T. H. Breen into the economic culture ofcolonial America. Sweeping in scope and magisterial in conception,it sets forth a novel interpretation of the American Revolutionthat is predicated on the assumption that the pursuit of happinessin the eighteenth-century America referred more to the promiseof personal fulfillment than to the promotion of the commongood. In the language of colonial historians, Breen’sAmerican revolutionaries were paragons of ‘bourgeois virtue’rather than ‘civic humanism.’ Breen’s principalhistoriographical foil is Bernard Bailyn and the so-called republicaninterpretation of the American Revolution with which Bailyn     

Effects of differential information on the after-market valuation of initial public offerings

This paper examines the after-market for initial public offerings (IPOs), particularly the security valuation effects of structural differences in available information. There is a diversity of information among issuing firms at the time of their offering and particularly under certain market conditions. Because this diversity decreases with time and after-market trading, the IPO market provides an ideal setting for testing errors due to differential information levels in early after-market valuation of IPO firms. We find evidence that during “hot” market conditions and for firms characterized by low levels of available information, the market values of issuing firms are more likely to be overestimated in the immediate after-market. We also find positive overestimation of market values to be more likely for larger IPOs and for those marketed by the less prestigious underwriters.     

Offshore RMB Market Sees Robust Growth

【正】Thanks to China’s continued efforts in deepening financial reforms,the offshore RMB market has continued to expand rapidly,as revealed by a recent report by ...     

The effect of experience with a brand imitator on the original brand

Imitating the look of an existing successful brand is a common occurrence in today's crowded marketplace. It was found that a negative experience with an imitator brand increased the evaluations of the original brand. A positive experience with the imitator was shown to have the opposite effect, and there was a decrease in the evaluations of the original brand. Subjects also indicated they would be likely to purchase the positive imitator over the original at only a 10 percent price reduction.