平台属性对绿色农产品网购安全信任的影响——价格敏感度的调节作用

基于精细加工可能性模型,以消费者价格敏感度为调节变量,探究电商平台内外属性对消费者绿色农产品网购安全信任的影响。研究发现,在消费者价格敏感度调节下,系统质量、信息质量、服务质量、口碑声誉、结构保证与主观规范6大平台属性对绿色农产品网购安全信任具有显著正向影响。据此,提出电商平台应改善并优化平台建设质量、构建并完善平台保障体系,以增强消费者绿色农产品网购意愿,助推绿色农产品电商发展。     

Do Auditors Accurately Predict Litigation and Reputation Consequences of Inaccurate Accounting Estimates?

To effectively manage audit risk, auditors must correctly predict the potential litigation and reputation consequences associated with inaccurate accounting estimates. Accurate predictions are critical because underestimation of negative consequences leads to excess legal exposure and overestimation leads to overauditing. Our paper examines whether auditors correctly anticipate these litigation and reputation outcomes. We provide manager‐ and partner‐level auditors with case facts from an auditor negligence lawsuit and ask them to predict the proportion of juries that will return verdicts against their firm. We then compare auditors' predictions to the actual verdicts we observe when we provide the same set of case facts to mock jurors who deliberate as part of juries. We find that auditors overestimate the likelihood of negligence verdicts, especially when audit quality is relatively high. Our supplemental measures help explain the reasons for this overestimation: auditors tend to underestimate jurors' perceptions of audit quality and willingness to attribute inaccurate estimates to situational factors. Finally, we examine auditors' predictions about how a news article about the litigation will affect their reputation with the general public. Similar to our litigation results, we find that auditors tend to overestimate the article's negative impact on auditor reputation. Collectively, our findings suggest that auditors overestimate litigation and reputation consequences resulting from inaccurate accounting estimates. This overestimation is consequential as it leads to inefficient allocation of audit resources.     

基于SEM的网购口碑视角下消费者回购意愿影响机制的实证研究

基于信号理论和理性行为理论,以店铺信誉和在线评论作为前因变量,引入品牌态度作为中介变量,以体验感知作为调节变量,构建网络口碑视角下消费者回购意愿模型。通过SEM分析方法,对各因素关系进行检验。结果表明:店铺综合体验星级、店铺评分、在线评论中的评论形式对品牌态度有正向的作用;体验感知对店铺综合体验星级、店铺评分、评论形式、评论相似度与品牌态度之间的关系有正向的调节作用;品牌态度正向影响回购意愿;在线评论的评论相似度和差评负向影响品牌态度;体验感知负向影响差评与品牌态度的关系。     

人口流动对农户环境治理支付意愿的影响——基于双栏模型

农村环境治理关乎乡村振兴的成效，农户的参与与否及其参与程度直接影响着农村环境治理的成效。基于农村人口流动的现状，对福建、安徽、陕西三省的529位农户进行了调查，采用双栏模型检验家庭人口流动对农户环境治理支付意愿及其支付额度的影响程度。结果表明，人口流动对农户环境治理支付意愿有显著的负向作用，而对农户环境治理支付额度有显著的正向作用。此外，不同省份区域人口流动对环境治理支付意愿的影响机制不同。     

Costly Buyer Search in a Differentiated Products Model: An Experimental Study

This study examines whether the content of buyer information and the timing of its dissemination affects seller market power. We construct laboratory markets with differentiated goods and costly buyer search in which sellers simultaneously post prices. The experiment varies the information on price or product characteristics that buyers learn under different timing assumptions (pre‐ and postsearch), generating four information treatments. Theory predicts that price information lowers the equilibrium price, but information about product characteristics increases the equilibrium price. That is, contrary to intuition, the presence of informed buyers may impart a negative externality on other uninformed buyers. Data support the model's negative externality result when sellers face a large number of robot buyers that are programmed to search optimally. Observed prices conform to the model's comparative statics and are broadly consistent with predicted levels. With human buyers, however, excessive search instigates increased price competition, and sellers post prices that are significantly lower than predicted.     

产品质量安全网络舆情下的企业网络声誉研究

产品质量安全问题成为顾客衡量企业声誉的重要内容,尤其在社会化媒体下,产品质量舆情对企业网络声誉的影响作用日趋明显。文章从网络舆情演化视角出发,分析了产品质量舆情对企业网络声誉的影响,建立了顾客感知的产品质量舆情与企业网络声誉的关系,基于两者间的相关性,以天涯论坛为例运用产品质量舆情量化了企业网络声誉值。结果显示,运用产品质量舆情的时间衰减特性、帖文内容影响分布、舆情演化高潮期等特性比仅仅依靠帖文数量测度企业网络声誉更具有合理性,为企业提升企业网络声誉提供了一种有效途径。     

Auditor Reputation,Auditor Independence,and the Stock‐Market Impact of Andersen's Indictment on Its Client Firms*

In this paper, we study a broad sample of Arthur Andersen clients and investigate whether the decline in Andersen's reputation, due to its criminal indictment on March 14, 2002, adversely affected the stock market's perception of its audit quality. Because these reputa‐tional concerns are more of an issue if an auditor's independence is impaired, we investigate the relationship between the abnormal market returns for Andersen clients around the time of the indictment announcement and several fee‐based measures of auditor independence. Our results suggest that when news about Andersen's indictment was released, the market reacted negatively to Andersen clients. More importantly, we find that the indictment period abnormal return is significantly more negative when the market perceived the auditor's independence to be threatened. We also examine the abnormal returns when firms announced the dismissal of Andersen as an auditor. Consistent with the audit quality explanation, we document that when firms quickly dismissed Andersen, the announcement returns are significantly higher when firms switched to a Big 4 auditor than when they either switched to non‐Big 4 auditors or did not announce the identity of the replacement auditor. Our empirical results support the notion that auditor reputation and independence have a material impact on perceived audit quality and the credibility of audited financial statements, and that the market prices this.     

Do Economists Recognize an Opportunity Cost When They See One? A Dismal Performance or an Arbitrary Concept?

2005 asked 199 professional economists a multiple‐choice question about opportunity cost. Given that only 21.6% answered “correctly,” they conclude that professional understanding of the concept is “dismal.” We challenge this critique of the profession. Specifically, we allow for alternative opportunity cost accounting methodologies—one of which is derived from the term's definition as found in Ferraro and Taylor— and rely on the conventional relationship between willingness to pay and substitute goods to demonstrate that every answer to the multiple‐choice question is defensible. The Ferraro and Taylor survey question suggests difficulties in framing an opportunity cost accounting question, as well as a lack of coordination in opportunity cost accounting methodology. In scope and logic, we conclude that the survey question does not, however, succeed in measuring professional understanding of opportunity cost. A discussion follows as to the concept's appropriate role in the classroom.     

Adverse Selection,Seller Effort,and Selection Bias

Several studies (Genesove 1993; Chezum and Wimmer 1997) use evidence of a correlation between seller characteristics and prices as evidence of adverse selection. This approach ignores the effect seller effort might have on the quality of goods sold. We develop a theoretical framework that accounts for both adverse selection and seller effort and provide a set of conditions under which sellers, who more likely adversely select the goods they sell, produce higher quality goods. Empirically, adverse selection emerges as a special case of selection bias. To disentangle the effects of adverse selection from seller effort, we employ a unique data set that allows us to model the selection decision explicitly. The evidence suggests that both adverse selection and hidden effort play important roles in the market for thoroughbred racehorse prospects.     

Getting to Know You: Trust Formation in New Interfirm Relationships and the Consequences for Investments in Management Control and the Collaboration

Trust is often posited to substitute for management control in interfirm transactions. However, this raises questions of how trust arises in new relationships, and whether trust that is not based on prior experience transacting together is sufficient to persuade managers to forgo investments in management controls. We use an experiment to test whether two features of the early stage of an interfirm relationship influence a buyer's initial trust in a supplier and have consequences for subsequent investments in management controls and in the collaboration. These two features are the autonomy of the buyer's manager to choose a supplier (i.e., delegation of decision‐making authority) and the supplier's willingness to share information with the buyer. We find that the buyer manager's initial trust in the supplier is associated positively with both the autonomy to choose the supplier and the supplier's willingness to share information. Information content and supplier characteristics are held constant, so these results are novel and distinct from prior studies of the antecedents of trust. We find that higher initial trust is associated with reduced expenditures for management controls and increased investments in the collaboration. Thus, we conclude that delegation of decision‐making authority and supplier information‐sharing behavior in the early stages of a relationship influence the formation of initial trust, which has real consequences for investments in management control and in the collaboration.     

Quality Expectations,Reputation, and Price

Although the theoretical literature on firm reputation is well developed, few empirical studies exist that quantify the importance of reputation effects. This paper estimates the impact on price of current product quality and reputation using data from the market for Bordeaux wine. A model is proposed in which price is a function of current quality and expected quality, where the latter depends on reputation. Equations determining price and expected quality are estimated jointly. The empirical findings show that the price premium associated with a better reputation far exceeds that associated with improvements in current quality. The impact of reputation on price is disaggregated into individual firm and collective (or group) reputation effects, and the significance and magnitude of these effects are compared. The results indicate that both types of reputation are important, and that in general, the market values collective reputation indicators only to the extent that they are useful predictors of product quality.     

Information Effects on Consumers' Preferences and Willingness to Pay for a Functional Food Product: The Case of Red Ginseng Concentrate*

This paper elicits consumers' preferences associated with attributes of a very popular food product in Asia: red ginseng concentrate. The results of a choice experiment suggest that an asymmetric information problem can cause consumers' preferences and valuation for red ginseng concentrate to be significantly influenced by objective information about the product's attributes. The results imply that while objective information can result in differential changes in valuation for different product attributes, it can increase consumers' willingness to pay for red ginseng concentrate. The paper also discuss important policy and marketing implications from the results of the study.     

消费者感知风险对网购珠宝饰品意愿的影响

珠宝饰品作为奢侈品是否能适应线上销售，还需对消费者购买欲进行研究。基于文献梳理，借鉴前人对网络消费者行为影响因素的研究，收集212份有效样本，并运用SPSS和Amos进行分析。研究发现：商家信誉、价格质量、网购流程和售后服务对感知风险具有显著负向影响作用；感知风险对网购珠宝饰品意愿也具有负向影响，即感知风险越高，网购珠宝饰品意愿越低。     

The Determinants of Price in Internet Auctions of Used Cars

This study analyzes how auction, seller, and product factors influence the price premium in an eBay used car auction market. In auctions with at least one bid, the reputation of the seller, title status, and the time the auction ended influenced the price premium on the highest bid. For auctions that resulted in a sale, cars with clear title and dealers were able to secure significantly greater price premiums, but seller reputation had no significant effect. Using a binary logit model, cars had a greater probability of selling if the seller had a better reputation. The quality of the presentation and number of pictures did not enhance the price premium in any of the models.

How different are consumers in Internet auction markets? Evidence from Japan and Taiwan

This study provides evidence of consumers’ different attitudes toward asymmetric information in different Internet auction markets, using data of the iPod nano MP3 player from Yahoo! Japan Auctions and Yahoo! Kimo. The estimation results indicate that while non-positive reputation has a negative strong effect on new iPod nanos, but not for their used ones in Japan, seller reputation has a positive and significant effect on used iPod nanos, but little impact on new ones in Taiwan. In addition, auctions including shipping and handling charges significantly lower sale probability and increase auction prices in Japan, but this is not the case for Taiwan.     

资源型城市居民改善空气质量的支付意愿——以山西太原为例

研究资源型城市居民对空气质量改善的支付意愿及影响因素,有利于进一步推动各地区实行减污降碳。基于山西太原443份调研问卷,利用条件价值评估法测算居民的支付意愿及支付额度,构建二元Logistic回归模型和Tobit模型对支付意愿及支付额度的影响因素进行分析。发现79.2%的受访者具有正的支付意愿,平均支付意愿为28.16元/(月·人),其中受教育程度、家庭总收入、是否患有呼吸系统疾病、本地居住时长、是否关注空气质量以及空气质量对健康危害程度具有显著的正向影响,而性别、年龄、职业、居住位置、对空气质量的现状满意度以及对政府采取措施的满意度影响不显著。为此,应加强环保宣传教育,合理制定支付标准,制定相应的实施政策,以引导居民支付空气质量改善的费用。     

The Effect of Environmental Risk on the Efficiency of Negotiated Transfer Prices

This study investigates whether environmental risk affects the efficiency of negotiated transfer prices. We analyze a setting where the buyer faces environmental risk but the seller does not. From the risk‐neutral firm's perspective, the transfer should be made in our setting because the expected value of the buyer's profit is greater than the certain opportunity cost of the seller from the transfer. We develop hypotheses to predict that, as environmental risk increases, it becomes more difficult for buyers and sellers to reach agreement. Such difficulty reduces efficiency in terms of both firm profit and negotiation time. We test our hypotheses via an experiment in which buyer and seller dyads negotiate over the transfer of a resource at six levels of environmental risk. Results show that, as predicted, environmental risk decreases efficiency. Specifically, as environmental risk increases, the frequency of agreement decreases, thereby reducing expected firm profit. Further, environmental risk increases negotiation time for those dyads that are able to reach an agreement. Data suggest that the cause of the decreased efficiency is that buyers and sellers use different reference points for determining a fair transfer price and environmental risk exacerbates the effects of such differences.     

二手车定价时存在禀赋效应吗?

通过对行为经济学中"禀赋效应"研究进行归纳拓展,构建了二手车定价模型,将卖方禀赋效应分离出来,并基于二手车交易网站的微观数据,实证检验了二手车定价时的禀赋效应是否存在。得到如下结论:二手车市场中卖方定价时会受到禀赋效应的影响,从而制定一个高于参照点(使用时间、行驶里程和原始价格形成的中立参照价)的价格。通过稳健性检验,认为禀赋效应的存在是普遍且稳定的,但有可能受到驾驶体验、交易物品特征等因素的影响。研究构建的定价模型对行为经济学中禀赋效应和参照点的设定具有理论和实践的参考意义。     

Valuation of the Quality Attributes of Online Banking Services by Small and Medium Enterprises Engaged in International Trade

This study investigates the important attributes of online banking system for Small and Medium Enterprises (SMEs) and their willingness to pay for each attribute. Zero travel and waiting time, high security, and 24/7 accessibility are the key attributes for this service. The results show that SMEs engaged in international trade value online banking services significantly more than the others. Domestically focused firms value high‐quality service at about $163 a month, while import‐focused businesses value such a service at approximately US$646 per month. Export‐intensive SMEs value high‐quality online services 14% further, for an average of $736 per month.     

Parental Behavior and the Value of Children's Health: A Health Production Approach

Data on individual children and on sibling pairs are used to examine how family resource allocations affect children's health and to estimate willingness to pay for reduced acute illness in children. Results highlight the importance of accounting for the endogeneity of child health and suggest that children with greater stocks of health capital whose parents invest in preventive and remedial medical care experience fewer days of illness. Estimated willingness to pay to avoid one day of illness-induced school loss is about $100 to $150, a range broadly consistent with limited prior evidence but substantially more than unit values applied in recent policy analyses. All else equal, willingness to pay is higher among single parents and for uninsured children, and the estimated income elasticity is only 0.14. Implied aggregate benefits of reductions in children's sick time associated with air pollution control may be substantial.