Consumers׳ perception of the complexity of selected household purchase decisions

This study provides evidence of consumers׳ perception of the complexity of a variety of product/service decisions in terms of a complexity continuum and indicates how such categorisation is influenced by specific demographic characteristics, specifically gender, age and education level that are predominant in terms of consumer socialisation. A survey which was conducted in a major city and involved 461 respondents. The multiple section structured questionnaire were completed by willing spouses/partners of participating households. Complexity values were calculated in terms of a specific anchoring product, namely major household appliances. It became evident that the most expensive purchases that households ever make, namely purchasing a home and a car, which were perceived to be the most complex by all while grocery purchase was on the least complex divide of the continuum. Also on the more complex divide of the continuum were service related decisions such as insurance. Particularly noteworthy is the confirmation of significant differences in perceived complexity within product categories that are perceived to be the most- and the least complex by all. This confirms the vulnerability of certain segments of the consumer society and the need for concerted effort to communicate with them in appropriate media and on a level that would enhance informed consumer decision-making. Underlying reasons probably relate to consumers׳ risk perception and affordability issues that could be explored in future research. Interestingly the findings of the gender comparison shifted the focus to different product categories than those elicited in the age-, income and level of education comparisons. Findings therefore confirm the relevance of demographic characteristics in media communication and consumer facilitation as well as in research. Retailers and marketers should therefore be cognisant of the characteristics of their target markets and be very selective and cautious when identifying communication media.     

Liquidity effects of trading frequency

In this paper, we present a discrete‐time modeling framework, in which the shape and dynamics of a Limit Order Book (LOB) arise endogenously from an equilibrium between multiple market participants (agents). We use the proposed modeling framework to analyze the effects of trading frequency on market liquidity in a very general setting. In particular, we demonstrate the dual effect of high trading frequency. On the one hand, the higher frequency increases market efficiency, if the agents choose to provide liquidity in equilibrium. On the other hand, it also makes markets more fragile, in the sense that the agents choose to provide liquidity in equilibrium only if they are market neutral (i.e., their beliefs satisfy certain martingale property). Even a very small deviation from market neutrality may cause the agents to stop providing liquidity, if the trading frequency is sufficiently high, which represents an endogenous liquidity crisis (also known as flash crash) in the market. This framework enables us to provide more insight into how such a liquidity crisis unfolds, connecting it to the so‐called adverse selection effect.     

No-arbitrage condition and existence of equilibrium in asset markets with a continuum of traders

In the present paper, we prove that a no-arbitrage condition (à la Werner) is necessary and sufficient for the existence of an equilibrium with a continuum of traders and a finite number of assets. As in Aumann (1966) , Hildenbrand (1974) and Schmeidler (1969) , preferences are not assumed to be convex. We do not use Fatou's Lemma and do not assume that the consumption sets are compact.     

Informality,tariffs and wealth

This article analyzes the interaction between changes in tariff protection, informality, inequality and aggregate income. First, we describe some new empirical evidence on informality, the formal/informal wage gap and trade openness in Latin American countries. Then we present a simple model characterized by three (empirically based) assumptions: (1) agents consume both formal and informal goods; (2) the government uses tariff revenues to purchase formal goods; (3) informality is a voluntary phenomenon. The model predicts that tariff reduction increases informality and wage inequality and that the maximization of income requires a positive level of tariff protection. The model's results are shown to be consistent with the empirical evidence concerning Latin American countries.     

Uniqueness in percolation theory

The possible uniqueness of the infinite cluster in percolation theory has been a subject of research for more then three decades. A number of important results have been proved in the last eight years and most of the question posed thirty years ago are answered nowadays. In this review paper, I shall give an account on the history of the subject plus recent developments. My goal is not only to mention the main results, but also to give some idea of the methods of proofs which are involved. I also discuss some applications and open problems.     

顾客生涯价值评估:累计净现值法及其应用拓展

评估顾客生涯价值有助于企业优化资源配置、提高战略营销绩效。然而,现有评估模型存在的不足以及对复杂数据库及复杂分析方法的要求,限制了顾客生涯价值评估在实践中的应用。鉴于此,在对顾客生涯价值评估方法进行系统回顾和评析的基础上,借鉴企业连续价值评估方法,对顾客生涯价值评估模型进行了完善,并将顾客生涯价值评估模型的应用范围进一步拓展至战略营销分析、顾客关系投资决策和企业并购决策。     

石牌流动人口聚居区研究——兼与北京“浙江村”比较

在城市化和市场化的视野下 ,对石牌村流动人口聚居区作了个案研究。从北京的“浙江村”到石牌流动人口聚居区 ,外来人口与城市主流社会的整合发生了很大的变化。住房改革和户籍制度改革的深化 ,更多的行业和市场的开放 ,将加速流动人口与主流社会的融合。应明确建立一种主要用职业、工作和收入来过滤、筛选外来人口进入主流社会的机制 ,尽快建立相对有序和稳定的社会流动机制     

A weak α-core existence theorem of games with nonordered preferences and a continuum of agents

Inspired by Kajii (1992) and Askoura (2011, 2017), we introduce the notion of the weak $\alpha$-core for games with nonordered preferences and a continuum of agents. First, we extend the work of Kajii (1992) to games with spaces of strategies defined on Hausdorff topological vector spaces. Furthermore, we prove the nonemptiness of the weak $\alpha$-core. Finally, we establish the relations between normal-form games, games with nonordered preferences and games with pseudo-utilities.     

丘陵地区中小城市城乡结合部土地利用变化特征*——以内江市四合乡为例

［目的］探究城乡结合部土地利用方式在城市急剧扩张过程中的变化特征,对统筹城市产业布局和城乡一体化发展具有重要意义。［方法］文章以2009年和2014年内江市城乡结合部的四合乡土地利用数据为研究对象,利用分形理论和景观生态学方法,分析其一级地类分维数、数量及空间分布变化。［结果］四合乡土地利用数据具有分形特征, 2014年与2009年相比,分维数值由1267~1612缩小至1170~1463,除园地外,其余地类分维数值均呈下降趋势,各土地类型轮廓更趋规则; 5年间多种土地利用类型快速更替,面积增减明显,主要表现为耕地大量减少,交通、建设用地明显增多,园地、林地、水域缩减较少,其他土地类型有少量增加。［结论］在乡镇尺度上,城乡结合部受其区位和城市布局共同影响,耕地被建设用地大量侵占,造成农用地减少; 因农村劳动力向城市转移,亦有耕地被撂荒现象。该研究结果可为类似区域土地资源管理提供实践参考。     

Arrow's Possibility Theorem for one-dimensional single-peaked preferences

In one-dimensional environments with single-peaked preferences we consider social welfare functions satisfying Arrow's requirements, i.e. weak Pareto and independence of irrelevant alternatives. When the policy space is a one-dimensional continuum such a welfare function is determined by a collection of 2^N strictly quasi-concave preferences and a tie-breaking rule. As a corollary we obtain that when the number of voters is odd, simple majority voting is transitive if and only if each voter's preference is strictly quasi-concave.