Why negative brand extension evaluations do not always negatively affect the brand: The role of central and peripheral brand associations

This research introduces the concept of brand association centrality and distinguishes central brand associations (CBAs) and peripheral brand associations (PBAs). Study 1 shows that the consistency with CBAs and PBAs influences perceived brand extension fit. However, the brand extension consistency with CBAs positively affects consumer–brand extension evaluations, while the brand extension consistency with PBAs does not have a significant effect. Study 2 demonstrates the mediating role of perceived fit between brand extension consistency with CBAs and brand extension evaluations. The study shows that the more inconsistent the product extension is with CBAs, the more the brand's image is altered and the faster brand evaluations deteriorate. In contrast, the brand extension inconsistency with PBAs does not affect brand evaluations.     

Brand Personalities of Global Wine Exporters: A Collective Reputation Theory Perspective

This study examines the perceptions of the personalities that wine drinkers attribute to the wines of the six top exporting countries. An exploratory study with an inductive approach was used, and data were collected from 757 wine consumers from 22 countries. Based on the collective reputation theory, we question the use of standardized versus localized strategy when approaching international markets by the top producers of the world. By means of correspondence analysis, our results indicate that each wine producer country tends to have a different positioning among consumers from different regions of the world. Besides, it is evident that a standardized approach to marketing and promotion of a specific country’s wines to global markets could be viewed as rather myopic, representing a gross oversimplification of reality, and contradicting what our findings reveal about differences in global consumers’ perceptions of wines from the big six producers.     

Segmentation of Hedonic Consumption: An Application of Latent Class Analysis to Consumer Transaction Databases

While the broad and growing sector of leisure, culture and entertainment is rapidly adapting to marketing, little is known about segmentation in this field. The sector has customer and transaction databases of very good quality, but usage-based segmentation in this new field poses new problems, as hedonic consumption goods are importantly different from other consumption goods. The type of consumer choice behavior suggested in the literature demands a segmentation of category purchase incidence identified transaction data based on Latent Class Analysis. We illustrate such an approach to a library transaction database. The article concludes with a reflection on the results and suggests further directions for research.     

Choquet Rationality

Consider a decision problem under uncertainty for a decision maker with known (utility) payoffs over prizes. We say that an act is Choquet (Shafer, Bernoulli) rational if for some capacity (belief function, probability) over the set of states, it maximizes her “expected” utility. We show that an act may be Choquet rational without being Bernoulli rational, but it is Choquet rational if and only if it is Shafer rational. Journal of Economic Literature Classification Numbers: C72, D81.     

Entrepreneurship in Pacific Asia – Past Present and Future. Leo Paul Dana. Singapore: World Scientific, 1999.

Small Business Economics -     

Decision Strategy and Structure in Households: A “Groups” Perspective

From a practical perspective, (arguably) most consumer decisions are not made in isolation of the households in which consumers are inserted, yet we commonly treat them econometrically as if they were. The purpose of this workshop was to take some initial steps in defining needed research in household decision making that structurally accounts for goal sharing, utility interdependence, taste heterogeneity, choice set formation, power structures, group size and composition, and so forth. We also considered conditions under which aggregation of tastes, utility and choices might occur and make sense from both behavioral and modeling perspectives.     

Computational suite of models with heterogeneous agents: Incomplete markets and aggregate uncertainty

This paper describes the first model considered in the computational suite project that compares different numerical algorithms. It is an incomplete markets economy with a continuum of agents and an inequality (borrowing) constraint.     

Civilizing markets: Carbon trading between in vitro and in vivo experiments

The creation of carbon markets is one of the solutions currently envisaged to meet the widely recognized challenge of global warming. The contributions in this special section of Accounting, Organizations and Society show that many controversies nevertheless exist on the ways in which these markets are organized, the calculative tools that are devised to equip them, and the role that they are supposed to play, especially in relation to other types of intervention which favour political measures or technological research. In light of these controversies, the article considers carbon markets as on-going collective experiments. It is argued that carbon trading is an exceptional site for identifying the stakes involved in such experiments and for identifying better what the dynamics of civilizing markets could be.