Memory-Based Store Price Judgments: The Role of Knowledge and Shopping Experience

This paper investigates the processes underlying consumers’ memory-based store price judgments. The numerosity heuristic implies that the greater the number of relatively lower priced products at a store that consumers can recall, the lower will be their overall price image of the store. That is, people use the number of recalled low-price products to judge the overall store price image. We show that this expectation holds only for knowledgeable consumers. Instead, less knowledgeable consumers use the ease with which low-price products are recalled (i.e., the availability heuristic) as a cue to make store price judgments. Therefore, the fewer low-price products they recall, the easier their recall task, and the lower their price perceptions of the store.Field studies using different manipulations tested and confirmed these predictions. Managerial implications for retailers are offered. Theoretical implications for behavioral price perceptions, memory-based judgments, and the use of heuristic cues are also discussed.     

Shopping trip value: Do stores and products matter?

Previous research indicates the importance of shopping trip value but recognises that consumers do not shop independent of the environment; both products and stores contribute to overall shopping trip value. This study identifies the impact of product and store value on overall shopping trip value and investigates the interrelationship among their utilitarian and hedonic components. In addition, it proposes a store value scale. The authors find empirically that utilitarian store value and performance-related product value have significant effects on utilitarian shopping trip value, whereas hedonic shopping trip value is influenced most by hedonic store value and emotional product value. In addition, women appear more prone to hedonic shopping trip value yet also utilitarian store value, while men were more attentive to utilitarian product value.     

Determinants of store patronage: The roles of political ideology,consumer and market characteristics

In this study, we investigate the roles of political ideology, demographic characteristics and market environment in determining households' store patronage behavior. We measure two key dimensions of store patronage—store format preference and store loyalty trait—of 23,092 U.S. households using purchase data from Nielsen Homescan panel. We use county-level vote share of the Republican and Democratic parties across three U.S. Presidential elections to measure political ideology. We obtain measures of demographic characteristics and market environment from the Nielsen panel and the U.S. Census Bureau. Using fixed-effect regression models, we find systematic association between political ideology and households’ store patronage. Our findings contribute to the growing literature in marketing on the effects of political ideology on consumer behavior and have important implications for store loyalty programs, cross-selling strategies and store location decisions.     

Store format choice and relationship quality in apparel retail: A study of young and early-middle aged shoppers in New Delhi region

Shopping format choice has been an interesting and important area of research in the academic literature from long time. However, research in this area is presently at a nascent stage in India. There are a very few studies which focus on store format choice in India which includes the works of Anand and Sinha (2009), Prasad and Aryasri (2008), Sinha and Banerjee (2004) and Tripathi and Sinha (2008). The present study compares three different retail formats (Discount stores, Exclusive stores and Multi-brand outlets) based on the shopper's perception of relationship quality (RQ) of these stores using multivariate techniques. For addressing, the objective of this study a sample of 313 shoppers is used. Results suggest that “conflict due to store” and “combined overall RQ due to the store and its employees” influence the store format choice. The RQ levels among the apparel store format are highly competitive.     

OPTIMAL TRADE EXECUTION IN ILLIQUID MARKETS

We study optimal trade execution strategies in financial markets with discrete order flow. The agent has a finite liquidation horizon and must minimize price impact given a random number of incoming trade counterparties. Assuming that the order flow N is given by a Poisson process, we give a full analysis of the properties and computation of the optimal dynamic execution strategy. Extensions, whereby N is a Markov‐modulated compound Poisson process are also considered. We derive and compare the properties of the various cases and illustrate our results with computational examples.     

基于CAP视角下的地方政府内部执行力提升机制研究

本文基于对CAP基本理论的分析,结合对地方政府内部执行力存在问题的研究,寻求提升我国地方政府执行力的有效机制,以推动政府更好地转变职能,促进中央与地方及整个社会的和谐发展。     

TRANSIENT LINEAR PRICE IMPACT AND FREDHOLM INTEGRAL EQUATIONS

We consider the linear‐impact case in the continuous‐time market impact model with transient price impact proposed by Gatheral. In this model, the absence of price manipulation in the sense of Huberman and Stanzl can easily be characterized by means of Bochner’s theorem. This allows us to study the problem of minimizing the expected liquidation costs of an asset position under constraints on the trading times. We prove that optimal strategies can be characterized as measure‐valued solutions of a generalized Fredholm integral equation of the first kind and analyze several explicit examples. We also prove theorems on the existence and nonexistence of optimal strategies. We show in particular that optimal strategies always exist and are nonalternating between buy and sell trades when price impact decays as a convex function of time. This is based on and extends a recent result by Alfonsi, Schied, and Slynko on the nonexistence of transaction‐triggered price manipulation. We also prove some qualitative properties of optimal strategies and provide explicit expressions for the optimal strategy in several special cases of interest.     

营利性法人人格权的转让行使

营利性法人人格权的行使符合人格权行使的一般规则，可以由权利主体自己行使，但营利性法人人格权所体现的主要是经济利益，这就使得法人人格权的转让行使成为必要与可能。文章探讨了营利性法人人格权转让行使的可能性、必要性和方式。并具体分析了法人人格权的授权许可、权利投资和权利转让三种转让行使方式。     

完善“两全”机制 增强考核执行力

实施＂两全＂工作的根本目的是进一步调动企业和全体员工履职尽责、争创一流的积极性、主动性和创造性。＂两全＂工作机制的建立和完善,覆盖了对标争创、对标攻坚、对标点评和对标考核全过程。制定绩效考核管理办法和多种激励措施,是执行全员绩效考核新机制的关键。     

论资本市场内幕交易法律监管的完善路径

高效规制资本市场内幕交易,必须根据内幕交易的违法犯罪行为规律构建与完善制度性防控体系。证券法有必要缩短上市公司重大报告的时间期限,压缩内幕信息沉淀的时间,在信息披露制度上有效控制与预防内幕交易。实现内幕交易防控制度的优化,必须完善刑事责任规范体系,形成实时监控主动性执法与责任追究被动性执法并重的监管格局,建构内外兼备的立体化防控机制与市场监督力量。