Traditional Food Products: The Effect of Consumers’ Characteristics,Product Knowledge,and Perceived Value on Actual Purchase

The study demonstrates the importance of customer orientation in markets dominated by small food and drink manufacturers. The study evaluates the effect of consumers’ personal characteristics and perceptions on purchase and provides better understanding of their role in business development in specialty food markets. The United Kingdom’s Mediterranean food market was chosen as a context, focusing specifically on Greek feta. Two hundred seventy-three UK specialty food shoppers were surveyed online to determine what aspects of consumers’ cognition and what personal characteristics would affect purchase decisions. The findings reveal, through 3 models (R² = .26/.20/.19), that product knowledge (p < .01), country of origin (p < .10), perceived transactional value (p < .10), consumers’ life stage (p < .05), and available income (p < .01) are 5 critical factors affecting decision making. The managerial implications for small and medium sized enterprises (SMEs) lie in the need to create and deliver value to consumers by informing production decisions on consumers’ insight rather than on customers’ (wholesalers, retailers) specifications.     

Correction to: Developing Ethical Confidence: The Impact of Action-Oriented Ethics Instruction in an Accounting Curriculum

After the USSR collapsed, the Russian economy underwent serious changes from being plan-based to a market economy. These changes, together with political instability, created a business environment where no attention was paid to ethics. Russian managers have little experience operating in a market economy, which created many misunderstandings with foreign partners, especially regarding ethical issues of doing business. This study examined the factors influencing the ethical judgments of Russian employees to understand how they perceive ethical issues and make ethical or unethical decisions at work. The Ferrell and Gresham (J Mark 49:87–96, 1985) framework was employed in this study to understand the process of making ethical decision by an individual. Transparency was proposed as a moderator of the relationship between opportunity factors and employees’ ethical judgments. Findings of this study show that Russian employees tend to be more tolerant towards ethically questionable behaviors at a workplace. Moreover, the results also demonstrate that transparency moderates the influence of opportunity to behave unethically on ethical judgments.     

Saving face and group identity

Are people willing to sacrifice resources to save one’s and others’ face? In a laboratory experiment, we study whether individuals forego resources to avoid the public exposure of the least performer in their group. We show that a majority of individuals are willing to pay to preserve not only their self- but also other group members’ image, even when group identity is minimal. When group identity is made more salient, individuals help regardless of whether the least performer is an in-group or an out-group. In contrast, people are less likely to sacrifice for individual strangers, showing a major role for group identity and reputation concerns within groups relative to an interpretation in terms of moral norms.     

Cheating,emotions, and rationality: an experiment on tax evasion

The economics-of-crime approach usually ignores the emotional cost and benefit of cheating. In this paper, we investigate the relationships between emotions, deception, and rational decision-making by means of an experiment on tax evasion. Emotions are measured by skin conductance responses and self-reports. We show that the intensity of anticipated and anticipatory emotions before reporting income positively correlates with both the decision to cheat and the proportion of evaded income. The experienced emotional arousal after an audit increases with the monetary sanctions and the arousal is even stronger when the evader’s picture is publicly displayed. We also find that the risk of a public exposure of deception deters evasion whereas the amount of fines encourages evasion. These results suggest that an audit policy that strengthens the emotional dimension of cheating favors compliance.     

How Can Internet Comparison Sites Work Optimally for Consumers?

In today's information society, there is such a large amount of available information about any given good or service that consumers are unable to make an informed choice. Internet comparison sites (ICSs) could provide a solution to this problem by comparing markets for consumers and making a comprehensive recommendation. However, currently, they are not fully effective for consumers. Consumers do not trust ICSs because of concerns about commission biases and lack of full market coverage. To be fully effective, ICSs also ought to cover non-price dimensions such as product quality and after-sales service. Changing the economic model from the current two-sided platform to a one-sided platform could solve these problems. In order for this to occur, changes or clarifications to existing EU consumer laws might need to be made.     

New technology based firms and the emergence of new industries: some employment implications

This article challenges conventional theories on the role of NTBFs in the growth of new industries. Its'community dynamics'approach is an alternative to the SPRU model of'dynamic complementaries'and argues that while NTBFs are crucial, their capacity for employment generation is low.     

Taxation,redistribution, and observability in social dilemmas

In the presence of social dilemmas, cooperation is more difficult to achieve when populations are heterogeneous because of conflicting interests within groups. We examine cooperation in the context of a nonlinear common pool resource game, in which individuals have unequal extraction capacities and have to decide on their extraction of resources from the common pool. We introduce monetary and nonmonetary mechanisms in this environment. The two monetary mechanisms are tax extraction and redistribution of the tax revenue. These include a Pigovian per‐unit tax mechanism and an increasing block tax that only taxes units extracted above the social optimum. Another mechanism varies the observability of individual decisions. We find that the two tax and redistribution mechanisms reduce extraction, increase efficiency, and decrease inequality within groups. In contrast, observability impacts only the baseline condition by encouraging free‐riding instead of creating moral pressure to cooperate.     

Post-earnings announcement drift and parameter uncertainty: evidence from industry and market news

Review of Quantitative Finance and Accounting - Post-earnings announcement drift (PEAD), one of the most prominent and robust return anomalies, is often attributed to investor naiveté or...     

On the Market Timing of Hedging: Evidence from U.S. Oil and Gas Producers

Review of Quantitative Finance and Accounting - Using a hand-collected data, we provide evidence of extensive use of commodity derivative in hedging among U.S. oil and gas producers. We find large...     

How frequent a BEER? Assessing the impact of data frequency on real exchange rate misalignment estimation

This article explores the robustness of Behavioural Equilibrium Exchange Rate models, employed to estimate real effective exchange rate misalignments, to the frequency of the underlying data. It compares misalignments stemming from an annual model, estimated since 1980, and a comparable quarterly model, estimated since 1999. The two sets of estimates are similar. Moreover, the in-sample power of quarterly REER misalignments in explaining subsequent REER developments is higher than that of the annual estimates. This article therefore suggests that the “optimal” frequency of a BEER model depends on whether its resulting estimates are employed for research purposes or for policy-making activities.