Factors Affecting Group-Oriented Travel Intention to Major Events

Large-scale, major social events, such as music and cultural festivals and international sporting events, are an important motivator of tourism activity and an increasingly significant component of destination marketing. Despite the growing consumption trend of group-oriented travel behavior and the economic significance of large-scale, event-based tourism, a theoretical gap exists in understanding what drives potential attendees' desire to attend these events, particularly in groups. A theoretically developed conceptual model is empirically tested using survey data from 170 Australian respondents planning to attend, and travel in a group, to a major social event. The results support the model showing that travel motivations (configured as a Type II multidimensional model), affective destination image, and enduring involvement in the event category influence group-oriented travel behavior to major events. Managerial implications and recommendations for future research are also presented.     

Statistical Issues in fMRI for Brain Imaging

Functional magnetic resonance imaging is a technique developed in the last decade and used in the fields of cognitive psychology and neuroscience, among others, to study the processes underlying the working of the human brain. In this paper we examine some of the statistical issues in functional magnetic resonance imaging for brain research. We start by giving a brief introduction to the physics of magnetic resonance imaging. Using a psychological experiment as a case study, we then describe questions of design and statistical analysis. The data obtained from functional magnetic resonance imaging studies are of a highly complex nature, displaying both spatial and temporal correlation, as well as high levels of noise from different sources. Given this, the scope for statistics is vast, and is not limited to simple analysis of the data, once collected.     

What Should be Taught in Intermediate Macroeconomics?

A lack of consensus remains on what should form the theoretical core of the undergraduate intermediate macroeconomic course. In determining how to deal with the Keynesian/classical divide, instructors must decide whether to follow the modern approach of building macroeconomic relationships from micro foundations, or to use the traditional approach based on aggregate models of the macroeconomy. In this article, the authors discuss the advantages and shortcomings of each approach in the context of course objectives. Because there is significant heterogeneity in textbook coverage, the authors summarize some of the approaches taken in current intermediate-level textbooks, which should serve as a useful starting point for new instructors. The authors also discuss how each approach can be extended to analyze the recent recession in the United States.     

Customers’ reactions to price increases: Do customer satisfaction and perceived motive fairness matter?

Most of the previous research on price changes has focused on price decreases. This article investigates the effects of price increases at an individual level. The authors argue that customers’ reactions to price increases (i.e., repurchase intentions) are strongly driven by two factors: the magnitude of the price increase and the perceived fairness of the motive for the price increase. In this context, the authors examine the role of customer satisfaction in influencing the impact of these two variables on repurchase intentions after a price increase. Their findings reveal that as satisfaction increases, the negative impact of the magnitude of a price increase is weakened. Furthermore, the results suggest that satisfaction moderates the impact of perceived motive fairness. The authors also find that the level of satisfaction can influence the valence of the perceived motives in response to a price increase. Christian Homburg (homburg@bwl.uni-mannheim.de) is a professor of marketing and chair of the Marketing Department at the University of Mannheim, Germany. He also serves as director of this university’s Institute for Market-Oriented Management. He holds master’s degrees in business administration and mathematics and a Ph.D. in business administration from the University of Karlsruhe, Germany. He also holds a habilitation degree from the University of Mainz, Germany. His research interests include market-oriented management, buyer-seller relationships, and business-to-business marketing. He has published in theJournal of Marketing, the Journal of Marketing Research, Strategic Management Journal, the Journal of the Academy of Marketing Science, and theInternational Journal of Research in Marketing. He is also the founder of Professor Homburg & Partners, an internationally operating management consulting firm. Wayne D. Hoyer (wayne.hoyer@bus.utexas.edu) is the the James L. Bayless/William S. Farish Fund Chair for Free Enterprise, the chairman of the Department of Marketing, and the director of the Center for Customer Insight in the McCombs School of Business at the University of Texas at Austin. He received his Ph.D., M.S., and B.A. from Purdue University in the area of consumer psychology. He has published more than 60 articles in various forums including theJournal of Consumer Research, theJournal of Marketing Research, theJournal of Marketing, the Journal of Advertising Research, and theJournal of Retailing. His research interests include customer insight and relationship management, consumer information processing and decision making (especially low-involvement decision-making), and advertising effects (most particularly, miscomprehension and the impact of humor). Nicole Koschate (nicole.koschate@bwl.uni-mannheim.de) is an assistant professor of marketing in the School of Business Administration at the University of Mannheim, Germany. She holds a double master’s degree in business administration and psychology and a Ph.D. in marketing from the University of Mannheim, Germany. Her current research areas include pricing, customer insight, dynamic issues in marketing phenomena, and buyerseller relationships. Her research appears in several outlets, including theJournal of Marketing.     

Die Akzeptanz von Versicherungsdienstleistungen im Internet

There is not much known about the factors that determine online demand for insurances. This current study is a first attempt to locate the variables that affect the acceptance of online-purchase of an insurance policy from existing research and empirically verify them. Results show that good terms coupled with online purchase-experience is the most important cause for acceptance. Additionally, convenience (i.e., easy access to information through internet sites of insurance companies and easy and fast contracting), perceived barriers when transferring from a traditional insurance contract to an ?online contract“, information quality of the internet offer, perceived personal risk as well as perceived transaction risk are significant factors driving online demand for insurances.     

Teenagers’ use of alternative shopping channels: A consumer socialization perspective

The consumer socialization (CS) perspective is applied to explore factors that influence a developing consumers’ use of different shopping channels—mall and Internet. The effects of channel involvement, access to funds, access to the channel, and socialization agent communication on adolescent shopping and intentions are examined using a high school student sample. Results indicate that involvement with a channel has a major influence on agent communication, time and money spent, and future intentions to shop in that channel. Agent communication was also found to influence shopping behaviors and intentions. Differences between channels are noted. Additional findings, implications, limitations, and future research directions are also presented.     

When a few minutes sound like a lifetime: Does atmospheric music expand or contract perceived time?

In the first of two experiments, the estimated duration of a given interval was shorter when familiar as opposed to unfamiliar music was played, but only for respondents waiting idly; music had little or no effect on respondents engaged in a memory task during the interval. In the second experiment, respondents waiting idly again reported shorter estimates of duration when they heard familiar as opposed to unfamiliar music, but only when they heard a sufficient number of songs during the interval. On the other hand, respondents engaged in a memory task reported longer estimates of duration when they heard familiar as opposed to unfamiliar music, but again only when they heard a sufficient number of songs. These results are consistent with attentional (i.e., waiting condition) versus discrete events (i.e., memory task condition) models of duration judgments, respectively.     

Heterogeneity biases,distributional effects,and aggregate consumption: An empirical analysis using stratified microdata

Using stratified microdata from the Canadian FAMEX (78–86) surveys, this paper investigates whether observed heterogeneity in marginal propensities to consume across strata actually hinders the aggregation process. Despite significant heterogeneity in marginal responses, the divergences between aggregate predicted consumption and the predictions from a model that uses average strata responses are found to be small, whenever the strata demands are approximatively linear at the mean and the commodity group considered is not a luxury good. On the other hand, some cross-sectional estimates obtained by pooling the strata are shown to be contaminated by unwanted cross-moments. Further, the analysis reconciles the fact that while there exists significant heterogeneity in consumer demands, the related distributional effects in the aggregate equation have not been found to be important.     

Bricoleurs and boundary riders: managing basic research and innovation knowledge networks

A major focus of national and institutional research policies during the 1990s has been on improving linkages between publicly funded research activities and industry for the purpose of advancing economic and other national objectives. The transfer of scientific knowledge, however, within and between public research institutions, universities and other innovative organizations is taking place within rapidly changing organizational environments. The emergence of new organizational structures that transcend institutional boundaries, scientific disciplines and the boundaries between basic and applied research are all contributing to as well as responding to changes in the ways science intersects with industrial innovation.
Recent international evidence suggests that innovative organizations during the next decade will depend more on their ability to maintain quite complex organizational research linkages than on their internal organizational research capabilities. Case studies of the organizational approach adopted by companies and commercial-research agency consortia in China and Australia lead to a discussion of a typology of academic-industry alliances. The typology provides insights into different collaborative R&D management strategies associated with different forms of science-industry alliance.     

Approximation of Optimal Reinsurance and Dividend Payout Policies

We consider the stochastic process of the liquid assets of an insurance company assuming that the management can control this process in two ways: first, the risk exposure can be reduced by affecting reinsurance, but this decreases the premium income; and second, a dividend has to be paid out to the shareholders. The aim is to maximize the expected discounted dividend payout until the time of bankruptcy. The classical approach is to model the liquid assets or risk reserve process of the company as a piecewise deterministic Markov process. However, within this setting the control problem is very hard. Recently several papers have modeled this problem as a controlled diffusion, presuming that the policy obtained is in some sense good for the piecewise deterministic problem as well. We will clarify this statement in our paper. More precisely, we will first show that the value function of the controlled diffusion provides an asymptotic upper bound for the value functions of the piecewise deterministic problems under diffusion scaling. Finally it will be shown that the upper bound is achieved in the limit under the optimal feedback control of the diffusion problem. This property is called asymptotic optimality .