The impact of different types of concernment on the consumption of organic food

Previous research has mainly focused on consumers' environmental values and attitudes to explain green consumption. However, it has been neglected how situational factors like the way a consumer is affected by the impacts of environmental pollution influence environmental attitudes and the demand for organic food products. To fill this void, we firstly introduce a taxonomy of different types of factual concernment and perceived concern. Factual concernment describes the manner in which a person is affected by the negative consequences of environmental pollution, whereas perceived concern expresses an anxious sense of interest. Building on that taxonomy, an experimental study analyses how four types of factual concernment (direct vs. indirect; material vs. immaterial) influence consumers' perceived concerns (in terms of environmental and health concern) as well as the readiness to gather information, the readiness to make sacrifices, the willingness to pay higher prices and purchase intentions. The study reveals that particularly direct concernment fosters the consumption of organic food. However, the study did not find any differences between the influences of material and immaterial concernment on the organic food purchase decision.     

A Poole Analysis in the New Open Economy Macroeconomic Framework*

This paper evaluates simple monetary policy rules in the tradition of the Poole analysis within a general two‐country model for a large economy and a small open economy. The results for the large economy resemble those of the original Poole scenario and also extend to the welfare measure. In particular, an interest rate rule is preferable to a money supply rule when liquidity shocks dominate, whereas a money supply rule fares better with real shocks. For the small open economy, the stabilization properties of the large‐economy case continue to hold for domestic shocks, but a money supply rule performs better than an interest rate rule using the welfare measure. If shocks originate in the foreign economy, a money supply rule turns out to be superior both in terms of its stabilization properties as well as in terms of welfare.     

Die Wirkung von Akzent und Dialekt in der internen und externen Kommunikation: Stand der betriebswirtschaftlich orientierten Forschung und Forschungsdirektiven

With growing interest, the importance of speech characteristics is being discussed in business literature. Particularly speech varieties such as a regional dialect or a foreign accent of a speaker affect the success of business interaction significantly. The present paper systematically depicts these effects by conducting a literature review. The underlying processes of accent and dialect effects are discussed and empirical findings of business research are presented. Since this topic is highly interdisciplinary, findings of peripheral research disciplines such as linguistic science and social psychology are integrated. Having given a comprehensive state-of-art review, the present paper develops a theoretical framework, which integrates previous partial theories and the fragmentary empirical findings. Based on this framework, the paper suggests directives for future research.     

Strategies for managing a portfolio of alliances

Interorganizational relationships are recognized as an increasingly important source of competitive advantage. Hence, goal‐oriented management of the alliance portfolio—all the alliances of the focal firm—plays a decisive role in company performance. Consequently, the configuration and development of the alliance portfolio become important strategic issues. In light of that, this article develops theoretical propositions that seek to clarify what determines the configuration and evolution of an alliance portfolio, and then presents the results of a longitudinal study to illustrate the developed theoretical framework. Building on contingency theory and a coevolutionary framework, we were able to identify three distinctive types of portfolio strategies at business level and to illustrate how they interact with the development of the business strategy and the business environment. Encompassing all this, the study illustrates and explains developmental paths and patterns in the evolution of an alliance portfolio. The developmental course typically evolves from adapting to shaping and to exploiting (stabilizing), according to the state of strategic uncertainty and the firm's resource endowment. A sudden increase in exogenous strategic uncertainty, however, can lead to a strategic shift back to an exploration or hybrid strategy. Copyright © 2007 John Wiley & Sons, Ltd.     

Consumer contracts and the 1980 Rome EC Convention on the law applicable to contractual obligations

International consumer protection is a relatively new topic in the theory and practice of private international law.The 1980 EC Convention on international contracts which entered into force in 1991 provides for a novel and comprehensive approach to international consumer contracts. The Convention allows the parties of international contracts themselves to stipulate what national law shall be applicable to their transaction. Party autonomy in international consumer contracts means allowing one party to provide for the application of that legal system which has the lowest standard of consumer protection. The Convention meets this danger by deciding that for sales of goods and service contracts, the consumer-protecting standards of the consumer's country apply. For other types of consumer transactions (e.g., consumer credit), the Convention allows national law to establish the international scope of its consumer protection standards.The author submits that the discretion of national law to extend the international scope of its consumer protective provisions is not unlimited. It is restricted to situations in which the other party directed its marketing activity to the consumer's country and excludes situations in which the consumer acted outside his home country. Recent national statutes and case law which go beyond these limits (such as the German Gran Canaria cases) are discussed critically.The paper further suggests the inclusion into EC directives on consumer protection of specific provisions as to their international scope in order to ensure their effective and uniform application to international consumer transactions.

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VerbrauchervertrÄge und das Römische EG-übereinkommen über das auf vertragliche SchuldverhÄltnisse anwendbare Recht von 1980

Zusammenfassung In Theorie und Praxis des Internationalen Privatrechts ist der internationale Verbraucherschutz ein relativ neues Thema.Das Römische EG-übereinkommen über das auf vertragliche SchuldverhÄltnisse anwendbare Recht von 1980, das im Jahre 1991 in Kraft getreten ist, gibt einen neuartigen und schlüssigen Ansatz für die internationalprivatrechtliche Behandlung von VerbrauchervertrÄgen. Dieses übereinkommen hat Modellcharakter einerseits für die Behandlung der Parallelproblematik der internationalen ZustÄndigkeit in Verbrauchersachen und führte auch zu einer Novellierung des Brüsseler EG-übereinkommens über die gerichtliche ZustÄndigkeit und die Vollstreckung gerichtlicher Entscheidungen in Zivil- und Handelssachen von 1968. Sein Ansatz ist weiterhin in ein Haager Abkommen von 1986 über das auf internationale WarenkÄufe anwendbare Recht übernommen worden und hat damit weltweite Anerkennung gefunden.Das übereinkommen hÄlt an dem klassischen Prinzip der Parteiautonomie fest. Danach können die Vertragsparteien selbst bestimmen, welches nationale Recht ihre Beziehungen beherrschen soll. Die GewÄhrung der Parteiautonomie in internationalen VerbrauchervertrÄgen eröffnet indes die Gefahr, da\ die stÄrkere Partei die Unterstellung des Vertrags unter diejenige Rechtsordnung durchsetzt, die den geringsten Standard des Verbraucherschutzes aufweist. Dieser Gefahr wird in dem übereinkommen dadurch begegnet, da\ in VertrÄgen über WarenkÄufe und Dienstleistungen die Schutzstandards des Aufenthaltsrechts des Verbrauchers zur Anwendung kommen. Für andere Typen von VerbrauchervertrÄgen (etwa: Verbraucherkredit) ist vorgesehen, da\ die nationalen Rechte selbst bestimmen können, ob sie ihren Verbraucherschutzvorschriften einen international zwingenden Anwendungsbereich einrÄumen wollen.In diesem Papier wird die These vertreten, da\ die Freiheit der nationalen Rechte, selbst den internationalen Anwendungsbereich ihrer verbraucherschützenden Normen zu bestimmen, nicht unbeschrÄnkt ist. Vielmehr ist Voraussetzung für den internationalen Anwendungsanspruch nationalen Rechts, da\ der andere Vertragspartner auf Vertragsschlu\ gerichtete WerbeaktivitÄten auf diesen Markt gerichtet hat. War hingegen der andere Teil nicht werbend in einem Lande tÄtig, so ist die Anwendung seiner Verbraucherschutzvorschriften nicht gerechtfertigt, auch wenn der Verbraucher seinen gewöhnlichen Aufenthalt in diesem Staat hat. Vor diesem Hintergrund werden neue staatliche Gesetze und Gerichtsentscheidungen, welche über diese Grenze hinausgehen (etwa die von deutschen Gerichten entschiedenen Gran Canaria-FÄlle) kritisch erörtert.Die EG-Richtlinien zum Verbraucherschutz regeln bisher nicht ihren internationalen Anwendungsanspruch. Damit ist es möglich, ihre Anwendung durch Wahl eines drittstaatlichen Rechts zu umgehen. Deshalb wird vorgeschlagen, da\ die EG-Richtlinien ihre einheitliche und wirkungsvolle Anwendung in internationalen FÄllen dadurch sichern, da\ sie ihren rÄumlichen Anwendungsbereich selbst festlegen.

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The author wants to acknowledge the faithful contribution of Cordula Haase to the finalisation of the paper.     

Die theorie der effektiven protektion

Summary The Theory of Effective Protection. — This paper offers a comprehensive presentation of the actual position of the theory of effective protection. It is shown that the concept of measurement suggested in connection with this theory rests upon a partial view and that the height and meaning of effective protection rates may change when a conception of general equilibrium is introduced. Further, widenings of the concept are discussed and suggestions made as to how indirect taxes and non-marketable inputs can be taken into consideration. Problems of imperfect competition, especially of the differentiation of products, and of the existence of redundant or prohibitive protection measures are also treated. Finally, a comprehensive analysis of the indicativeness of effective protection rates is given. In the case of constant input coefficients, it is possible, with the aid of protection rates and within the limits generally observed in price theory, to explain changes in the structure of gross production. In the case of variable input coefficients, the same is possible if the substitution effects can be integrated into the measuring concept. This would seem to be an empirical rather than a theoretical problem. Effective protection rates cannot — as has been suggested — serve to measure comparative cost advantages. At most, they indicate differences in cost caused by the protective system. For purposes of ascertaining the discrimination of foreign industries, calculation of the effective protection rate should start from nominal, not from realized customs. Applied to individual investment projects, the effective protection rate is able to help in estimating their value from the point of view of national economy.

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Resumen La teoria de protección efectiva. — El présente artículo ofrece una revista general del estado actual de la teorfa de la tasa efectiva de protección. En primer lugar se demuestra que el concepto propuesto se basa en un enfoque partial, de manera que el nivel y el significado de las tasas efectivas de protección pueden ser otros si se analizan dentro de un marco de equilibrio general. A continuación los autores discuten ampliaciones del concepto básico y hacen propuestas para la consideración de impuestos indirectes y de inputs no comercializables internacionalmente. Además, estudian los problemas que resultan de una competencia imperfecta (particularmente en relación con la diferenciación entre productos) así como de la existencia de medidas de protección redundantes y prohibitivas. Finalmente, se analiza el significativo de las tasas efectivas de protección. Los autores mantienen que, bajo el supuesto de que los coeficientes de inputs sean constantes, las tasas efectivas permiten (con las limitaciones usuales en la teoria de precios) conclusiones sobre variaciones en la estructura de la producción bruta. Esto es posible también si los coeficientes de inputs se consideran variables, siempre y cuando que se introduzcan los efectos de sustitución en el concepto de medición, lo cual, más que un problema teorico, es un problema estadístico. Al contrario de lo que a menudo se afirma, las tasas efectivas de protección no sirven para determinar los costos comparativos de un pais; en el mejor de los casos se prestan a la evaluación de las diferencias en los costos comparativos provocados por el sistema de protección. Si se desea conocer el grado de discriminación de industrias extranjeras, la medición de las tasas efectivas de protección deberá partir de los aranceles nominales y no de los aranceles realmente utilizados. Con relación a proyectos de inversión singulares, las tasas efectivas de protección ofrecen una ayuda de decisión en el momento de evaluar dentro de un marco macroeconómico la importancia de aquellos proyectos.

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Résumé La théorie de protection efficace. — Cet article présente une étude complète de la position actuelle de la théorie de protección efficace. On y prouve que le concept de mesurage proposé dans cette théorie repose sur une vue partielle et que le montant et la signification des taux de protección efficace peuvent changer quand on envisage l’équilibre général. Ensuite, on examine l’élargissement du concept de mesurage, tout en proposant des manières de tenir compte des imp?ts indirects et des inputs non-vendables. Sont discutés aussi les problèmes de la concurrence imparfaite, spécialement ceux de la différentiation des produits, et de l’existence de mesures de protección redondantes ou prohibitives. Finalement, on fait l’analyse générale du pouvoir indicatif des taux de protección efficace. Quand les coefficients de l’input sont constants, on peut, à l’aide des taux de protección — dans les limites généralement observées dans la théorie des prix — expliquer les changements de structure de la production brute. Quand les coefficients de l’input sont variables, la même chose est possible, si l’on peut intégrer les effects de substitution dans le concept de mesurage. Ce qui parait être un problème empirique plut?t qu’un problème théorique. Les taux de protección efficace ne peuvent pas — comme on l’a prétendu — servir pour mesurer les avantages comparatifs du co?t. Tout au plus, ils indiquent les différences de co?t causées par le système de protección. Si l’on veut conna?tre la discrimination des industries étrangères, il faut que le calcul des taux de protección efficace parte des tarifs douaniers nominaux et non pas des tarifs réalisés. Appliqué à des projets individuels d’investissement, le taux de protection efficace peut aider à juger de la valeur de ces projets pour l’économie nationale.

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Riassunto La teoria della protezione efiettiva. — Questo articolo d à una vasta esposizione dell’odierna situazione della teoria della protezione effettiva. Viene mostrato che nel quadro di questa teoria l’abbozzo di misurazione proposto poggia su una considerazione parziale e che altezza e capacit à assertiva delle rate efiettive di protezione possono mutare in una considerazione generale d’equilibrio. Quindi sono discussi ampliamenti dell’abbozzo e fatte proposte per la considerazione di imposte indirette come anche di ?input? non commerciabili. Inoltre viene abbordato il problema della concorrenza imperfetta, in particolare della differenziazione della produzione, come anche dell’esistenza di provvedimenti ridondanti e proibitivi di protezione. Una vasta analisi della capacità assertiva di rate efifettive di protezione costituisce la conclusione. In coefficienti fissi di ?input?, con l’aiuto delle rate di protezione e con le limitazioni comunemente in uso nella teoria dei prezzi, sono possibili asserzioni sul mutamento della struttura produttiva lorda. In coefficienti variabili di ?input? sono possibili le stesse asserzioni se gli effetti di sostituzione possono essere integrati nell’abbozzo di misurazione. Questo dovrebbe essere piú un problema empirico che teorico. Rate effettive di protezione (REP) non possono servire — corne ripetutamente si sostiene — da criterio di vantaggi comparativi dei costi, ma indicare nel migliore dei casi, per mezzo del sistema di protezione, causate differenze comparative dei prezzi. Per l’accertamento della discriminazione di industrie straniere, nel calcolo delle REP, bisogna partire dai dazi nominali e non da quelli utilizzati. Riferite a singoli progetti, le REP sono adatte ad essere di aiuto decisivo per la valutazione economica generale di progetti d’investizione.

     

Consumption,wealth and business cycles in Germany

This paper studies the long-run relationship between consumption, asset wealth and income—the consumption–wealth ratio—based on German data from 1980 to 2003. We find that departures from this long-run relationship mainly predict adjustments in income. The German consumption–wealth ratio also contains considerable forecasting power for a range of business cycle indicators, including the unemployment rate. This finding is in contrast to earlier studies for some of the Anglo-Saxon economies that have shown that the consumption–wealth ratio reverts to its long-run mean mainly through subsequent adjustments in asset prices. While the German consumption wealth ratio contains little information about future changes in German asset prices, we report that the U.S. consumption–wealth ratio has considerable forecasting power for the German stock market. One explanation of these findings is that in Germany—due to structural differences in the financial and pension systems—the share of publicly traded equity in aggregate household wealth is much smaller than in the Anglo-Saxon countries. We discuss the implications of our results for the measurement of a potential wealth effect on consumption. The views expressed in this paper are those of the authors and do not reflect the position of the Deutsche Bundesbank. We gratefully acknowledge comments and suggestions from an anonymous referee as well as from Heinz Herrmann, Helmut Lütkepohl, the editor, Baldev Raj, Burkhard Raunig, Monika Schnitzer, Harald Uhlig and Christian Upper. We also benefitted from comments by seminar participants at the ECB, the Deutsche Bundesbank, the CESifo Macro, Money and International Finance Area Conference 2005, the EEA 2005 annual congress and at the 2005 IAEA Meetings. Last but not least, we would like to thank Mark Weth for very useful information concerning the construction of the financial wealth data. Hoffmann’s work on this paper is also part of the project The International Allocation of Risk funded by Deutsche Forschungsgemeinschaft in the framework of SFB 475. Responsibility for any remaining errors and shortcomings is entirely our own.     

Consumer Response to Unethical Corporate Behavior: A Re-Examination and Extension of the Moral Decoupling Model

This research replicates Bhattacharjee et al. (J Consum Res 39(4):1167–1184, 2013) moral decoupling model and extends the original along the dimensions of theory, method, and context. Adopting a branding perspective and focusing on the corporate domain rather than the public figures investigated by Bhattacharjee and colleagues, this research examines the proposition that consumers dissociate judgments of morality from judgments of performance to justify purchasing from companies deemed to act immorally. The original study is further extended by applying the model in a different cultural context and employing a more realistic stimulus to establish external and ecological validity. The results of the replication generally support the original findings, in particular, under conditions of higher product involvement, a theoretical extension.     

Probabilistic forecasting of industrial electricity load with regime switching behavior

This paper suggests a novel inhomogeneous Markov switching approach for the probabilistic forecasting of industrial companies’ electricity loads, for which the load switches at random times between production and standby regimes. The model that we propose describes the transitions between the regimes using a hidden Markov chain with time-varying transition probabilities that depend on calendar variables. We model the demand during the production regime using an autoregressive moving-average (ARMA) process with seasonal patterns, whereas we use a much simpler model for the standby regime in order to reduce the complexity. The maximum likelihood estimation of the parameters is implemented using a differential evolution algorithm. Using the continuous ranked probability score (CRPS) to evaluate the goodness-of-fit of our model for probabilistic forecasting, it is shown that this model often outperforms classical additive time series models, as well as homogeneous Markov switching models. We also propose a simple procedure for classifying load profiles into those with and without regime-switching behaviors.