The Effects of Discount Location and Frame on Consumers’ Price Estimates

A discount may be defined by the location in which, and frame by which, it is communicated. Discount framing, particularly the differences between cents-off and percentage-off discounts, has been widely studied. Discount location (e.g., proximate to or distal from regular price info) has received considerably less attention. We employ the proximity-compatibility principle and tenets of human memory to demonstrate that discount framing (cents-off, percentage-off, and revised price) and discount location (proximal, distal) interact to differentially affect both the immediate value and the persistence of consumers’ price estimates. The implications of these results for retailers and manufacturers are highlighted in the discussion.     

Hidden price promotions: Could retailer price promotions backfire?

Hidden-price promotions, a type of uncertain price promotion in which the final price is not revealed when consumers first encounter the product, have been recently adopted by retailers. However, current research suggests that hidden-price promotions have the potential to backfire and result in reduced consumer purchase intention. Across seven studies, we reveal that hidden-price promotions can be effective but risk increasing discount expectations, as consumers expect a large discount. Only when the discount level meets or exceeds inflated expectations does the excitement built by the promotion positively impact purchase intention. For cognitive purchases, even without providing a high discount, hidden-price promotions are as effective as traditional ones. This research provides guidelines for retailers that want to employ hidden-price promotions.     

SDOC模式基本理论与应用初探

本文对供方符合性声明模式（SDOC模式）在进出口商品质量合格评定中的应用进行了总结和归纳,并对SDOC模式的定义、要素、内容、通用要求、适用条件以及在我国现行合格评定制度下的应用问题进行了初步探讨,为我国进出口商品质量合格评定的理论和实践提供参考和建议。     

Some characterizations of stockpiling behavior under uncertainty

The objective of this note is to gain new theoretical insights into stockpiling phenomena. The model used to derive our results envisions consumers as responding optimally to uncertainties in the promotion environment. We show that, all else being equal, consumers will stockpile a promoted product more intensely: (i) the lower the availability of deal opportunities, (ii) the smaller the expected deal discount, and (iii) the lower the uncertainty about the deal/regular price, provided that dealing occurs with high/low frequency.     

Discounting and Its Impact on Durables Buying Decisions

The phenomenon of discounting is well established in the economics literature. However, this research has traditionally assumed that households have a single discount rate and make all intertemporal tradeoffs based on that rate. More current research in decision making and marketing has challenged the economics approach to intertemporal choice behavior. In this article, we propose two aspects of discounting research that are particularly relevant to consumer behavior toward durable goods. We propose first that consumers have individual discount rates for product categories. The second proposition is that, in a multiattribute modeling context, consumers have different discount rates for different attributes. We also discuss the strategic implications of these discount phenomena for marketing managers.     

Value-added annual shareholders meetings: reflections on people's capitalism at Wal-Mart

Most shareholder annual meetings are relatively dull. This is a case study of how a large successful company, Wal-Mart, uses its annual shareholder meeting to motivate and spread best practices among other stakeholders including vendors and employees. In doing so, it makes it a value-added event and also livens up what may be a relatively dull annual shareholder meeting.     

中国对外贸易新趋势的实证分析——基于扩展型贸易引力模型

贸易引力模型作为研究对外贸易影响因素的一个理论方法,近年来相应的理论模型随着贸易的实践演变有了相应的扩展.我国目前贸易自由化进程取得非常大的成果,而且未来还有更加积极的开放措施.到2005年中国已经成为世界第三贸易大国,对于影响贸易流量的因素的探讨成为研究的热点.本文借助近年来在贸易流量分析方面运用十分广泛的引力模型的基本分析框架,对中国与15个贸易伙伴的双边贸易进行实证研究,发现我国的贸易结构已经从传统的要素禀赋理论指导的产业间贸易转化为产品差异化为动因的产业内贸易,而且双边自由贸易协定的制度安排(FTA)对贸易增长有显著的正效应.     

“Pay 80%” versus “get 20% off”: The effect of novel discount presentation on consumers’ deal perceptions

Consumers often undervalue price promotions because they discount the discounts. In this research, we examine the effect of using a novel type of discount presentation (e.g., “Pay 60% of the regular price”) on deal evaluations, and compare it to that of an equivalent discount presentation commonly used in the U.S. (e.g., “Get 40% off the regular price”). In three experiments we show that the former discount presentation results in higher perceived savings and higher purchase likelihood than the latter. Using process measures, we demonstrate that this effect is due to increased systematic processing induced by the novelty of the discount presentation, which improves calculation accuracy and hence decreases the underestimation of discounts. We also report a boundary condition of the effect of discount presentations on deal evaluations by showing that it is eliminated when consumers do not need to expend effort to accurately process price information. Both authors contributed equally and are listed in alphabetical order     

农产品拍卖初探

农产品拍卖是在公开的场合各农产品所有权竞价转让的一种现代交易方式。拍卖作为国际上农产品流通的主要方式,其作用是相当明显的,它也是我国农产品批发市场的一种行之有效的交易方式,发展前途是光明的。但是,在我国普及和推广农产品拍卖制,还有相当大的困难。为此,我们应创造条件,逐步扩大拍卖交易范围,实现以拍卖交易为主的发展模式。     

Quantity Discounts, Manufacturer and Channel Profit Maximization: Impact of Retailer Heterogeneity

In this paper, we investigate if a manufacturer can simultaneously maximize own and channel profit with any quantity-based pricing policy, including a quantity-discount policy, when selling through heterogeneous retailers. We show that the manufacturer's best possible pricing policy, when retailers self-select quantities, is a quantity discount. However, this policy does not maximize channel profit. Driven by the manufacturer's inclination to reduce the quantity sold through a high-cost or low-demand retailer, this result holds whether or not retailers compete. We discuss implications of our analysis for the manufacturer.     

对第三方物流企业开展物流金融业务机理的探讨

本文从供应链管理的角度出发,初步探讨了第三方物流企业开展物流金融的业务机理,运用经济学与管理学的相关理论分析了物流金融业务降低交易风险和减少交易费用的原因,阐述了物流金融业务对供应链物流资源的整合。     

Spatial competition with endogenous location choices: An application to discount retailing

This paper examines the importance of geographical differentiation in store location decisions of firms in the retail discount industry. Using a novel data set that includes the store locations and accompanying market conditions for all stores belonging to the Wal-Mart, Kmart, and Target chains, we study the factors that influence the entry and location decisions of these firms. The model involves an incomplete information game between the three players where each firm has private information about its own profitability. A key feature of our modeling approach is that it permits asymmetries across firms in the impact of exogenous market characteristics and competitive interaction effects. Variations in the exogenous firm specific characteristics, such as the distances from the market to firms’ headquarters and the nearest distribution centers, serve as exclusion restrictions and provide the source for model identification. Parameter estimates of the payoff functions are used to predict the equilibrium market structure under a variety of market conditions that provide insights into the competitive landscape of the industry. Results show that all firms exert a strong negative impact on competitors when they are in close proximity, but the effect decreases with distance to rivals suggesting strong returns to spatial differentiation in this industry. Target stores fare well under competition except when these competitors are in close proximity. Wal-Mart’s supercenter format is found to be the most formidable player as it substantially impacts competitors even at a large distance. We also find significant asymmetries across players in their response to market conditions and competition interactions.

Is algorithm aversion WEIRD? A cross-country comparison of individual-differences and algorithm aversion

Although algorithms offer superior performance over humans across many tasks, individuals often exhibit algorithm aversion, resisting algorithmic advice in favour of human recommendations. However, most algorithm aversion studies rely on American samples, potentially limiting the generalisability of the findings. Given the increasing adoption of algorithms globally, we explore if the impact of two crucial factors driving algorithm aversion, uniqueness neglect and familiarity, differ between culturally different countries. Drawing on the individualism-collectivism cultural dimension, we conducted two online studies comparing algorithm aversion between people in India and the United States in medical and financial services scenarios. While our results suggest that there is no difference in the degree of algorithm aversion between Indians and Americans at an aggregate level, we find important cross-cultural differences: Uniqueness neglect strengthens algorithm aversion for Americans more than Indians, while familiarity weakens algorithm aversion more for Indians than Americans. Thus, our results reveal generalisability issues within the algorithm aversion literature, as factors influencing algorithm aversion can be culturally dependent.     

《人民日报》关于“陈江会”报道的框架研究——以国民党《中央日报》网络版“陈江会”专题报道为参照

借助新闻框架理论,运用内容分析与比较分析方法,以“陈江会”为研究个案,选取国民党《中央日报》为参照媒体,通过从“新闻材料的选择”和“新闻材料的建构”两方面对《人民日报》新闻报道框架所做的研究显示,《人民日报》总体上遵从主题先行的新闻框架模式,这种严谨沉稳的报道风格一度开创了党报新闻报道的传统,但在新时期容易导致可读性不足、影响力式微、新闻专业理念发挥受限等后果,需要通过对既有新闻传统进行不断改革创新,使之更符合阅读规律与认知需要,以更好地发挥其舆论引导功能。     

老年人口日常生活自理能力城乡差异研究——基于CLHLS(2014)数据的实证分析

利用中国老年健康影响因素跟踪调查2014年数据,基于城乡差异的视角,运用二元Logistic回归剖析我国老年人口日常生活自理能力的现状及其影响因素。研究结果表明,我国城乡老人日常生活自理能力差异明显,影响因素也不尽相同,亟待全生命周期健康管理。在对高龄、孤独、视力不佳老人群体的普适性健康干预的基础上,城镇还需要多渠道维护贫困和独居老年群体的健康权益,农村则重在提倡定期体检、戒烟限酒、适度体力劳动的健康行为习惯,并加大对女性、无配偶、患有慢性非传染性疾病以及非独居老人的保障力度。     

兼并与收购的价值创造:并购交易与并购后整合

企业在并购交易本身和并购后的整合都可以实现价值创造。并购交易本身的价值创造来源于横向并购交易所产生的市场势力、纵向交易中所降低的交易费用、混合并购交易所实现的产业效应和绕开进入壁垒以及多元化、预期效应等;并购后整合的价值创造源自于其所产生的协同效应,即管理、经营、财务及无形资产协同效应,这些都会促进企业价值的提升与创造。