A meta-analysis of consumer choice and subliminal advertising

A meta-analysis is used to demonstrate the ineffectiveness of subliminal advertising to influence the consumer's decision between alternatives. A review of narrative reviews is provided to illustrate that sample size and effect size is seldom used as the basis for evaluating whether subliminal marketing stimuli are an effective means for influencing consumer choice behavior. The results of the meta-analysis indicate that there is very little effect. The resulting coefficient had a value r=0.0585, which places the effectiveness of subliminal advertising on choice between the impact of aspirin on heart attacks and the relationship between alcohol abuse and a tour of duty in Vietnam (Rosenthal, 1990). © 1996 John Wiley & Sons, Inc.     

使比较研究可信

:人们在进行宏观社会现象的研究时,方法上有定性与定量之分。定量分析呈现U字形分布,对极少量的N进行研究有案例分析导向,对极大量的N进行研究不利于认识的深化,因此有必要寻找案例研究与变量导向研究之间的中间路线。组合式研究就有很多独特的优点。     

Disengagement predictions via drift flux correlation vertical,horizontal and spherical vessels

The behavior of an open system is modeled. Thus, for special cases, the void fraction is predicted as a function of location and time. The open system may be an open vessel or a vessel with an open relief device. A single governing equation is derived based on combining the material and energy balances with the churn-turbulent drift flux relationship and assuming no radial gradients. This partial differential equation is not solved. It is, however, bounded by homogeneous and all vapor venting. These special cases are solved. In homogeneous venting the key variable is time. In all vapor venting under pseudo-steady-state conditions the key variable is location. The solution of the partial differential equation is also discussed. Under pseudo-steady-state and churn-turbulent conditions, the open system is modeled. The minimum void fractions (corresponding to a maximum liquid inventory) with all vapor venting, for vertical, horizontal, and spherical vessels are predicted and compared. Analytical expressions for the local and average void fractions in a vertical vessel and non-unity distribution parameters are presented. Void fraction profiles are compared for three cases: 1. vertical cylinders with distribution parameters (Co values) of unity and 1.5, 2. horizontal and vertical cylinders with varying L/D ratios, and 3. spheres with inscribed vertical cylinders having constant gas production to bubble rise ratio (Ψ′ value). The vertical cylinder average void fraction for non-unity distribution parameters can now be calculated analytically. The horizontal cylinder average void fraction predicted by turning it upright results in an over prediction of at most 4%. The sphere average void fraction predicted via an inscribed vertical cylinder, with the same Ψ′ value, is consistenly high by at most 8%.     

Brexit: How Will UK Agriculture Fare?

There is little doubt that Brexit would have significant implications for UK agriculture, a sector with strong trade links to the EU and strong reliance on CAP income support. This article reports preliminary results from employing a Computable General Equilibrium Model, a Partial Equilibrium Model and Farm Level Models to explore selected trade and domestic policy scenarios post‐Brexit. These allow for the estimation of changes in producer prices, production and farm incomes against a baseline scenario of continued EU membership. Under a Free Trade Agreement with the EU, agricultural impacts are relatively modest. By contrast, unilateral removal of import tariffs has significant negative impacts on prices, production and incomes. Adoption of the EU's WTO tariff schedule for all imports favours net importers (e.g. dairy) and harms net exporters (e.g. sheep). Given the strong dependence of most UK farms on direct payments, their removal worsens negative impacts of new trade arrangements and offsets positive impacts. Impacts vary across different types and sizes of farm, but also regionally. However, the period of adjustment to new trade and domestic policy conditions may prove very challenging for a large number of farm businesses.     

Measuring rural consumers’ willingness to pay for quality labels using experimental auctions: the case of aflatoxin‐free maize in Kenya

Aflatoxins are a common health hazard in tropical countries, especially in rural areas. New methods to reduce aflatoxin levels in food staples, as well as cheaper test methods, are being developed, but consumers’ willingness to pay (WTP) for these improvements is unknown. A survey was conducted with a representative sample of rural consumers (1,344 in total, 63% women) in all major maize‐production zones of Kenya. The survey included an experimental auction with maize products of different qualities. The results showed that many rural consumers were aware of aflatoxins, but few understood their health risks. Respondents were willing to pay a premium for maize tested for aflatoxins and labeled, but asked a high discount for maize that was visibly contaminated with moldy grain. The premium was higher for respondents with education and in regions with aflatoxicosis outbreaks. Knowledge of aflatoxins substantially reduced the overall WTP, but did not increase the WTP for tested maize. Welfare analysis indicates that mandatory testing would result in substantial benefits if the cost of testing can be lowered to below the premium.     

Economics at the Antitrust Division: 2017–2018

This article describes some of the work of Antitrust Division economists over the past year, with a focus on modeling. It begins by illustrating the mapping from evidence to prediction using tools for assessing the effects of mergers using Bertrand, Cournot, and auction models. It then turns to two hot topics in competition policy: the implications of claims of increasing margins for merger enforcement and the validity of claims of increasing concentration. Finally, it considers how mergers affect prices in bargaining models.     

Does Disclosure Regulation Work? Evidence from International IPO Markets*

This study examines whether IPO disclosure requirements mandated by countries’ securities laws are associated with variation in IPO underpricing in international IPO markets. Our empirical analysis uses a unique sample of 6,025 IPOs from 34 countries over the period from 1995 to 2002. We show for the first time that the stringency of disclosure requirements for IPO prospectuses is negatively associated with the extent of IPO underpricing, after controlling for various country‐ and firm‐level determinants of underpricing. Moreover, we find that the disclosure effect on IPO underpricing is moderated by the extent of a country’s capital market integration. Taken together, our findings are consistent with the view that increased disclosure regulation appears to reduce IPO underpricing and hence the cost of equity, and that institutional factors such as capital market integration play an important role in understanding the economic consequences of disclosure regulation in international IPO markets.