Response Rate and Response Quality of Internet-Based Surveys: An Experimental Study

This study examines the effect of the timing of follow-ups, different incentives, length, and presentation of the questionnaire on the response rate and response quality in an online experimental setting. The results show that short questionnaires have a higher response rate, although long questionnaires still generate a surprisingly high response. Furthermore, vouchers seem to be the most effective incentive in long questionnaires, while lotteries are more efficient in short surveys. A follow-up study revealed that lotteries with small prizes, but a higher chance of winning are most effective in increasing the response rate. Enhancing questionnaires with visual elements, such as product images, lead to a higher response quality and generate interesting interaction effects with the length of the questionnaire and the incentives used. Finally, the timing of the follow-up has no significant influence on the response rate.     

Satisfaction with Online Commercial Group Chat: The Influence of Perceived Technology Attributes, Chat Group Characteristics, and Advisor Communication Style

This study examines online commercial group chat from a structuration theory perspective. The findings support the influence of perceived technology attributes (control, enjoyment, reliability, speed, and ease of use) and chat group characteristics (group involvement, similarity, and receptivity) on customer satisfaction and the moderating role of advisor communication style on these influences. Furthermore, our results show that chat group characteristics influence customer satisfaction directly as well as indirectly via perceived technology attributes. Online chat satisfaction in turn influences behavioral intentions. Finally, group-level perceptions are found to add considerably to perceptions at the individual level. Our study illustrates that structuration theory provides a sound foundation for theoretical development and empirical investigation of online group chat. Also it shows that retailers need to carefully manage the intricate interplay between technology, chat groups, and online advisors to foster a satisfying experience for customers.     

Exchange Rate Predictability in Finite Samples

The goal of the present study is to re‐examine the exchange rate predictability with an approach that accounts for the negative effect of the finite‐sample estimation error on forecast accuracy in the in‐sample test. We consider various exchange rate models and find that despite the presence of significant population‐level predictive content in the exchange rate model, the coefficients of the predictive variables could be small enough that, with the available sample, they are estimated so imprecisely that a random walk model can be expected to forecast at least as well as the exchange rate model.     

Unobservable Contracts as Precommitments

It is well known that signing publicly observable contracts with third parties is a means of credibly committing to certain actions and hence may yield strategic advantages. Previous work on the commitment value of unobservable contracts has been limited to normal form games and extensive form games in which only one party has the option to sign a contract. In this paper, we extend the analysis to extensive form games in which both players can sign contracts, and characterize the set of sequential equilibria. We show that any Nash equilibrium outcome of the original game in which both players receive more than their individually rational payoffs can be supported as a sequential equilibrium outcome. Therefore, delegation acts not only as a commitment device to gain advantage over the opponent, but also as a cooperative device to attain Pareto improvements over the subgame perfect equilibrium outcome. I would like to thank Atila Abdulkadiroglu, Jean-Pierre Benoit, Alberto Bisin, Boyan Jovanovic, Ehud Kalai, Giuseppe Lopomo, George Mailath, Efe Ok, Ariel Rubinstein, Andy Schotter, seminar participants at various universities and conferences, and anonymous referees for helpful comments and suggestions. Support from the Alfred P. Sloan Foundation and Program for Economic Research at Columbia University is also gratefully acknowledged.     

Does A Firm's Entry or Exit Affect Competitors’ Value? Evidence from the REIT Industry

We analyze 483 entry and 439 exit events of publicly traded real estate investment trusts (REITs) and find that changes in the number of REITs in the market affect rival REITs’ stock performance. We also partition the sample by the modes of entries and exits as well as by REIT asset type in order to disentangle alternative explanations. Overall, our evidence indicates that the supply effect still matters for stock prices even after considering signaling and price pressure explanations.     

Small producers,supermarkets, and the role of intermediaries in Turkey's fresh fruit and vegetable market

A wide range of empirical studies show the extent to which the rise of supermarkets in developing countries transforms domestic marketing channels. In many countries, the exclusion of small producers from so‐called dynamic marketing channels (that is, remunerative ones) has become a concern. Based on data collected in Turkey in 2007 at the producer and the wholesale market levels, we show that intermediaries are important to understanding the impact of downstream restructuring (supermarkets) on upstream decisions (producers). Results show first that producers are not aware of the final buyer of their produce, because intermediaries hinder the visibility of the marketing channel, thereby restricting a producer's choice to that of the first intermediary. Econometric results show that producers who are indirectly linked to the supermarkets are more sensitive to their requirements in terms of quality and packaging than to the price premia compensating the effort made to meet standards. Therefore, the results lead us to question the role of the wholesale market agents who act as a buffer in the chain and protect small producers from negative shocks, but who stop positive shocks as well, and thereby reduce incentives.     

Exploratory study of understanding hotel employees’ perception on work–life balance issues

This paper explores hotel employees’ perception on work–life balance issues. In-depth interviews and self-administered questionnaires were used to collect the data. Factor analysis discovered seven factors: (1) enough time-off from work; (2) workplace support on work–life balance; (3) allegiance to work; (4) flexibility on work schedule; (5) life orientation; (6) voluntary reduction of contracted hours to cater for personal needs; and (7) upkeep the work and career—the determinants perceived by employees to attain “better” work–life balance in the dynamic hotel environment. Adopting an employee-centric and integrative approach are the critical success factors for implementation of a work–life balance program.     

Emotional prototypes,emotional memory usages,and customer satisfaction

In this study, we investigated the positive and negative emotion concepts in the prototype perspective and then tested them on customer satisfaction. By studying 612 customers in luxury restaurants, we found that two levels of customer emotions (i.e. positive and negative emotions) as a super-ordinate level, 4 positive emotions (i.e. contentment, happiness, love, and pride) and 5 negative emotions (i.e. anger, fear, sadness, shame, and disgust) as a basic level, and 49 specific emotions as a subordinate level are significantly related to customer satisfaction. We also examined the moderating role of emotional memory (EM) usage in the relationship between consumers’ emotions and their satisfaction. We found that product (food and beverage)-related EM strengthens and service-related EM usage weakens the relationship between customers’ negative emotions and their satisfaction. Interestingly, we found that positive and negative emotions are significantly related to customer satisfaction regardless of experience and store-related EM usage.     

Perceptions,attitudes, and behaviors toward sustainable fashion: Application of Q and Q‐R methodologies

While sustainability has increasingly attracted the attention of scholars and practitioners, consumer attitudes and behaviors toward sustainable consumption have not yet been elucidated. The decision‐making process around sustainable consumption involves diverse and complex considerations including some forms of compromise (tradeoff). In addition, sustainability is a broad and subjective concept, and is not a primary attribute of a product Impacting the choices of consumers. Therefore, it is necessary to apply new methods to overcome the limitations of conventional evidence‐based research. This research uses Q and Q‐R methodologies to identify consumers' subjective viewpoints toward sustainable fashion and to present socio‐demographic differences across segments of sustainable fashion consumers. Study 1 uses Q methodology to interview 26 consumers and to identify four types of decision makers: doubtful egoists, single‐minded bystanders, wavering intellects, and opinion leaders. Study 2 uses Q‐R methodology to verify the psychological and socio‐demographic variables among 328 consumers. The research provides useful suggestions for selecting and approaching target consumer segments in the sustainable fashion industry.     

Non-Asian Tourists' preferred attributes: a choice experiment

This study aims to identify non-Asian tourists' preferred attributes for a one-day Seoul tour package by examining theoretical frameworks of values related to tourists' heterogeneity of choice behaviors. The study applies a choice experiment (CE) to capture the systematic heterogeneity of preferences in a non-Asian tourist group and examines whether different individuals' value orientations relate to heterogeneous preferences regarding the tour packages. The CE derives the preferences as a form of marginal willingness to pay (MWTP), a pecuniary value for additional units of the attributes. Historical/cultural destinations displayed the highest MWTP value of all tour sites in Seoul, which was estimated to be $74.32. The results also show that a respondent who emphasizes “money and enjoyment” and “authenticity” values is more likely to choose a tour package that includes more opportunities to visit shopping and historical/cultural sites, respectively.