Gamified interactions: whether,when, and how games facilitate self–brand connections

Firms increasingly use games to interact with their customers. Yet, surprisingly little is known about whether, when, and how such “gamified” interactions engage consumers with a firm’s brand, thereby facilitating self–brand connections. Building on flow theory, we show that gamified interactions that are highly interactive and optimally challenging facilitate self–brand connections, because such games lead to emotional and cognitive brand engagement. A field study and three experiments across various product domains and game designs support our theory. We also identify conditions under which consumers do not become engaged with a brand, namely when firms restrict their decisional control either to voluntarily participate in the game (i.e., compulsory play) or to spend as much time as desired playing the game (i.e., time pressure). Our findings advance existing knowledge about the use of games in marketing and provide important implications for how marketers can harness their potential to build self–brand connections.     

Cost-effectiveness analysis of sequential biologic therapy with ixekizumab versus secukinumab as first-line treatment of moderate-to-severe psoriasis in the UK

Aims: Patients with psoriasis often undergo treatment with a sequence of biologic agents because of poor/loss of response to initial therapy. With the availability of newer agents like ixekizumab and secukinumab, there is a need for cost-effectiveness analyses to better reflect current clinical practice. This study aimed to assess the cost-effectiveness of a sequence of biologic therapies containing first-line ixekizumab vs first-line secukinumab in patients with moderate-to-severe plaque psoriasis in the UK.

Materials and methods: A Markov model with a lifetime horizon was developed to compare the cost-effectiveness of ixekizumab and secukinumab treatment sequences: ixekizumab → ustekinumab → infliximab → best supportive care (BSC) vs secukinumab → ustekinumab → infliximab → BSC. The model used monthly cycles, and included four health states: trial period, treatment maintenance, BSC, and death. At the end of the trial period, responders transitioned to maintenance therapy; non-responders transitioned to the next biologic in the sequence. An annual discontinuation rate of 20% was assumed for maintenance therapy.

Results: The ixekizumab sequence provided cost savings of £898 (£176,203 vs 177,101) [year 2015 values] and gained 0.03 more quality-adjusted life-years (QALYs: 1.45 vs 1.42) vs the secukinumab sequence over the lifetime horizon. Probabilistic sensitivity analysis showed an 89.8% likelihood that the ixekizumab sequence would be cost-effective at a threshold of £20,000 per QALY gained.

Limitations: The analysis used list prices for drugs rather than confidential, preferentially priced Patient Access Scheme costs. In addition, efficacy input data were based on a network meta-analysis, as there were no head-to-head trials comparing ixekizumab and secukinumab.

Conclusion: First-line treatment with ixekizumab as part of a specific sequential biologic therapy for moderate-to-severe plaque psoriasis in the UK provided slight advantages in cost savings and QALYs gained over a similar treatment sequence initiated with secukinumab. In view of the small magnitude of these differences, factors such as patient preferences (e.g. for number of injections) and long-term safety (e.g. related to time on the market) may also be important for clinical decision-making.     

The WTO Compatibility of the Economic Partnership Agreements between the EU and the ACP Countries

The economic partnership agreements (EPAs) to be negotiated between the European Union and six different ACP regions under the Cotonou Agreement are intended to be in conformity with WTO rules, i.e. satisfy GATT Article XXIV and GATS Article V. To what extent is this realistic? What would be the effects on the ACP countries?

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This article summarises the following study: A. Borrmann, H. Gro?mann, and G. Koopmann: The WTO Compatibility of the Economic Partnership Agreement between the EU and the ACP States, Study on behalf of the Federal Ministry of Economic Cooperation and Development and the Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH, Eschborn 2005, http://www.gtz.de/de/dokumente/enwto-epa-acp-2005.pdf.     

EU/ACP Economic Partnership Agreements: Impact, Options and Prerequisites

The EU and the African, Caribbean and Pacific countries (ACP) are presently renegotiating their trade relations. Behind these negotiations are the fundamental conflict between the existing arrangement and multilateral trade rules, the frustration regarding poor ACP trade performance, the ineffectiveness of trade and trade-related ACP policies, and the inefficiency of corresponding EU assistance. This article highlights the fundamentals of the envisaged Economic Partnership Agreements (EPAs) between the EU and the ACP countries, sums up previous estimates of their probable economic impact, discusses policy options for ACP countries and sheds light on basic prerequisites, particularly on institutional conditions, that should be fulfilled to ensure the success of EPAs.     

Why (not) cooperate? A cognitive model of farmers’ intention to join producer groups in Romania

After the breakdown of the communist regime in Romania, collective farms were replaced by a large number of small-scale private farms. Although cooperation seems to be a favourable choice for these smallholders, it did not develop as perhaps expected. This article explores the factors that determine the formation of the intention of Romanian vegetable farmers to join marketing cooperatives in the form of so called producer groups. Our theoretical framework refers to Ajzen’s Theory of Planned Behaviour, which we model with a structural equation model. We identified as main intention drivers the expectation for better prices and easier access to capital. Perceived family support is another significant factor. The level of distrust is high. Although our trust variable is not significant as a predictor of the intention to cooperate in the model, we find qualitative indications that trust plays a role when the intention is translated into actual behaviour.     

Rethinking priority: The dawn of the relative priority rule and the new “best interests of creditors” test in the European Union

This article identifies one aspect of the cross‐class cram‐down from the EU Directive on restructuring and insolvency that has not drawn wide attention to date. In addition to giving EU Member States the option of a “relative priority rule,” the European legislator has introduced a new “best interest of creditors” test, which does not—like in Chapter 11 of the US Bankruptcy Code—use the value that a party could expect in a hypothetical liquidation as a comparator but refers to the “next‐best‐alternative scenario.” First, this article addresses the concepts of the absolute and relative priority rule from the Directive and explores the motives for introducing the relative priority rule. In particular, a demand for more flexibility in restructuring negotiations, the call for an instrument to overcome structural hold‐out positions of preferential (priority) creditors in some Member States, as well as a trend in Europe to break with the “traditional laws of insolvency law” of law and economics seem to have inspired the legislator in drawing up the relative priority rule. This article then deals with the new “best interest” test and examines its interaction with the relative priority rule. It is shown that the concept of combining the new “best interest” test with the relative priority rule is coherent in theory. However, this article remains skeptical as to whether this interaction can succeed in practice, as the new “best interest” test is likely to add another stress point to the negotiations of restructuring plans.     

Surplus liquidity,central bank losses and the use of reserve requirements in emerging markets

Since the turn of the millennium, stocks of foreign reserves held by central banks in many emerging markets and developing countries have exceeded currency in circulation. To steer money market rates, these central banks have been absorbing liquidity from, rather than providing it to, the banking sector in their regular monetary policy operations. When interest rates in countries with major reserve currencies are low, the yield on foreign reserves is low. A higher interest rate on liquidity‐absorbing operations may expose central banks to losses. Although a central bank is not a profit‐maximizing institution, central bank losses can undermine the independence of the central bank. Using data for a large panel of central banks, this paper provides some evidence that central banks tend to apply low‐remunerated reserve requirements when profitability is at stake.     

The Allocation of German Aid: Self‐interest and Government Ideology

We investigate the importance of geo‐strategic and commercial motives for the allocation of German aid to 138 countries over the 1973–2010 period. We find that geo‐strategic and commercial motives matter. When we relate them to the political color of the German government in general, and the Ministry for Economic Cooperation and Development and the Federal Foreign Office in particular, we find their importance to be at least as strong under the socialist leadership. Socialist leadership decreases the amount of aid commitments, controlled for other factors.