The demand for and the supply of distribution services: A basis for the analysis of customer satisfaction in retailing

This paper brings together two bodies of literature. One of them is a literature on the special role of the consumer in retailing. The other one is the literature on customer satisfaction. This joining of literatures is accomplished by identifying distribution services as outputs of retail firms and fixed inputs into the production functions of consumers and relaxing the standard assumption that the demand for these services is always equal to the supply of these services. The result is a new conceptual framework for the analysis of customer satisfaction in retailing. This framework extends the basic ideas on customer satisfaction developed for manufacturing in a homogeneous single product setting to the heterogeneous multi-product setting relevant for many retailers. The paper illustrates one approach to the implementation of this framework with data for a set of supermarkets in Pamplona, Spain, that measure distribution services by asking consumers questions explicitly identifying these services. The five main categories of distribution services identified by the conceptual framework and measured in the data are economically important and statistically robust determinants of customer satisfaction with supermarkets. These results are obtained controlling for other variables typical of the customer satisfaction literature and measuring customer satisfaction in a manner consistent with that literature. The results are robust to corrections for sample selection and alternative estimation methods. Perhaps our most interesting novel result is that the effect of the determinants of customer satisfaction on future purchase intentions in the supermarket case is different when measured directly in a one stage process than when measured indirectly in a two stage process through the attributes/satisfaction/ purchase intentions chain.

The Zonal and Seasonal CO2 Marginal Emissions Factors for the Italian Power Market

Environmental and Resource Economics - This paper estimates the seasonal and zonal $${\mathrm{CO}}_{2}$$ marginal emissions factors (MEFs) from electricity production in the Italian electricity...     

Participation in Community Leisure Programs: Experiences and Perspectives of Children with Developmental Difficulties and Their Parents

Children with developmental disabilities participate in more solitary, sedentary, and home-based leisure activities than active physical pursuits or community-based activities. Clinical experience suggests that children with less well-recognized developmental difficulties also have compromised leisure experiences; however, this has not been fully investigated. This study engaged 20 school-age children with developmental difficulties in a community-based circus program, designed in collaboration with occupational therapists. The program included activities such as trampolining, trapeze, and acrobatics. Semi-structured interviews with children and parents explored children's leisure experiences both at circus and more broadly. Qualitative content analysis revealed that friendships, having fun, and being physically active were highly valued aspects of leisure. The coaching style and “just right” level of challenge within programs were identified as central to children's engagement and sense of competence. Participating in a supported leisure program such as circus appeared to promote children's engagement in community leisure, at least in the short term.     

The Falling Lake Victoria Water Level: GRACE,TRIMM and CHAMP Satellite Analysis of the Lake Basin

In the last 5 years, Lake Victoria water level has seen a dramatic fall that has caused alarm to water resource managers. Since the lake basin contributes about 20% of the lakes water in form of discharge, with 80% coming from direct rainfall, this study undertook a satellite analysis of the entire lake basin in an attempt to establish the cause of the decline. Gravity Recovery And Climate Experiment (GRACE), Tropical Rainfall Measuring Mission (TRMM) and CHAllenging Minisatellite Payload (CHAMP) satellites were employed in the analysis. Using 45 months of data spanning a period of 4 years (2002–2006), GRACE satellite data are used to analyse the variation of the geoid (equipotential surface approximating the mean sea level) triggered by variation in the stored waters within the lake basin. TRMM Level 3 monthly data for the same period of time are used to compute mean rainfall for a spatial coverage of .25°×.25° (25×25 km) and the rainfall trend over the same period analyzed. To assess the effect of evaporation, 59 CHAMP satellite’s occultation for the period 2001 to 2006 are analyzed for tropopause warming. GRACE results indicate an annual fall in the geoid by 1.574 mm/year during the study period 2002–2006. This fall clearly demonstrates the basin losing water over these period. TRMM results on the other hand indicate the rainfall over the basin (and directly over the lake) to have been stable during this period. The CHAMP satellite results indicate the tropopause temperature to have fallen in 2002 by about 3.9 K and increased by 2.2 K in 2003 and remained above the 189.5 K value of 2002. The tropopause heights have shown a steady increase from a height of 16.72 m in 2001 and has remained above this value reaching a maximum of 17.59 km in 2005, an increase in height by 0.87 m. Though the basin discharge contributes only 20%, its decline has contributed to the fall in the lake waters. Since rainfall over the period remained stable, and temperatures did not increase drastically to cause massive evaporation, the remaining major contributor is the discharge from the expanded Owen Falls dam.     

The breakdown of the workplace ‘family’ and the rise of personnel management within an Australian financial institution 1950–1980

The management of its people defines the way in which an organisation develops the capabilities to successfully compete in the market environment. Since the 1950s, approaches to staff management have evolved from traditional bureaucratic foundations to strategic planning exercises. This article uses a case study approach to investigate the way in which the process of organisational learning evolved in the development of personnel management practices. It suggests that although old and new practices were often overlaid on each other, ‘bridges’ developed which allowed the progressive development of new managerial processes.     

ARTISTS' BELONGINGS-Luo Yongjin Photography Exhibition

Essay:Monica Dematté Opening: 16:00 - 18:00 / 22. 10. 2011 Duration: 10:00 - 18:00 / 23. 10. 2011- 16. 12. 2011 Venue: OFOTO Gallery. 2F, Building 13, 50 Moganshan Rd, Shanghai. Tel: 86 - 21 - 6298 5416 www.ofoto-gallery.comTo See the World in an Artist’s Studio - Luo Yongjin’s Sharp Eyes     

Heterogeneity in Financial Market Participation: Appraising its Implications for the C-CAPM

This paper presents empirical evidence that accounting for heterogeneity in financial market participation is important for evaluating the empirical performance of the Consumption-based Capital Asset Pricing Model (C-CAPM). Using the US Consumer Expenditure Survey as a common testing ground, I re-assess three well-known characterizations of the equity premium puzzle (i) the inconsistency of the representative agent's IMRS with Hansen and Jagannathan bounds; (ii) Mehra and Prescott's calibration of a large representative agent's risk aversion; (iii) Hansen and the Singleton's large structural estimates of the preference parameters based on aggregate data. In all three cases, the estimates of risk aversion conditional upon financial market participation are not as far from reasonable values as the corresponding unconditional ones. The differences suggest that part of the equity premium puzzle can be accounted for by the use of a representative agent assumption rather than a more appropriate "representative stockholding agent assumption.