Consumer sorting and hedonic valuation of wine attributes: exploiting data from a field experiment

This article uses a novel experimental approach to measure consumer willingness to pay (WTP) for wine attributes. We invited customers of a local supermarket who had selected a bottle of wine to purchase to participate in a valuation experiment. Integrating their original wine choice into the experiment, each participant evaluated six alternative wines, generating a rich set of data on willingness to pay and consumer characteristics. The data from the experiment allow us to compare standard shelf price‐based wine attribute valuation estimates with estimates using WTP data and an increasing amount of information about individual consumers. The full model employs individual fixed effects to estimate WTP parameters without bias from consumer sorting or supply side influences. Our WTP estimates for wine attributes differ markedly from previous attribute value estimates. Consumers in our sample display clear and stable preferences for wine varieties, but less clear preferences for appellations. Our results suggest caution is needed in using market prices to estimate parameters of the consumer valuation function for product attributes.     

中西方禁忌语的差别及外英教学

文章就中西方禁忌语的不同,从多个层面进行了分析,解析产生诸多不同禁忌的文化,社会原因,并就如何规避尴尬语境提出了一些建议。     

随机正交变换法在隐私保持关联规则挖掘中的应用

隐私保护是当前数据挖掘领域中一个十分重要的研究方向。本文针对关联规则挖掘中如何保持隐私的问题,采用一种不依赖具体数据的随机正交变换方法,从而解决了在数据集容量很大的情况下,运算量大的问题,并使用传统隐私保护度评价方法与正交变换的方向隐私保护度相结合的方法评价变换的隐私保护度,进而使得结果更符合实际情况。理论分析和论证表明本文中的方法具有很好的隐私性、高效性和适用性。     

Capital,credit constraints and the comovement between consumer durables and nondurables

Evidence indicates that consumer durables are more flexibly priced than nondurable goods and services. In otherwise standard two-sector neoclassical sticky-price models with flexible durable prices, following monetary tightening, nondurables decrease but consumer durables increase. Friction in lending between households can resolve the comovement problem if durable prices are sticky. However, if durable prices are flexible, friction in lending fails to generate joint decline. This paper resolves the co-movement problem by adding capital into a model with flexible durable prices and friction in lending. When capital is needed in production, monetary tightening reduces the relative price of durables which induces investment and decreases firms' real profits in the short run. Due to fewer profits remitted from firms, savers have a lower disposable income and cannot increase expenditures on consumer durables as much as otherwise. As a consequence, aggregate consumer durables decrease and there is a joint decline of nondurables and consumer durables.     

Profiling employees online: shifting public–private boundaries in organisational life

Profiling involves the collection and use of online information about prospective and current employees to evaluate their fitness for and in the job. Workplace and legal studies suggest an expanded use of profiling and significant legal/professional implications for HRM practitioners, yet scant attention has been afforded to the boundaries of such practices. In this study, profiling is framed as a terrain on which employees and employers assert asymmetrical interests. Using survey data from large samples in Australia and the UK, the study investigates the prevalence and outcomes of profiling; the extent to which employees assert a right to privacy versus employer rights to engage in profiling; the extent to which organisations codify profiling practices; and employee responses in protecting online information. The findings contribute to a small and emerging body of evidence addressing how social media conduct at work is reconstituting and reshaping the boundaries between public and private spheres.     

Understanding the effect of personal and social value on attitude and usage behavior of luxury cosmetic brands

The growth of the luxury market has been phenomenal in recent years, especially in the emerging markets such as India. This research studied luxury value aspects (personal and social) of luxury cosmetic brands and their impact on consumer attitudes and usage behavior, with a focus on women consumers. Data was collected in the form of a survey from 372 women luxury cosmetic users. Structural equation modeling was used to analyze the framework. Hedonism and status value were found to have high significant relationship towards attitude whereas usage behavior was influenced by materialism and status value. Hence the symbolic and psychological traits among consumer will show their willingness to buy and preferences on luxury cosmetic brands. The findings of this study provide valuable insights to marketers and managers to understand consumer trends, attitudes and behavior in the luxury cosmetic market and develop marketing strategies to successfully market their products.     

Intrinsic factors affecting impulsive buying behaviour—Evidence from India

The goal of this research is to examine the effect of five intrinsic factors, namely, personality, culture, materialism, shopping enjoyment tendency, and impulsive buying tendency on impulsive buying behaviour. Using structural equation modeling, responses from 508 consumers in the different parts of India’s National Capital Region were analysed and results showed that while the three constructs of materialism, shopping enjoyment tendency, and impulsive buying tendency had significant positive relationship with impulsive buying behaviour, the cultural construct of collectivism and two personality constructs of extraversion and conscientiousness too showed significant relationship.The study assumes immense significance because it not only presents useful insight regarding the behaviour of Indian consumers in an ever developing retail sector in India, but also considering the fact that this is the first time an attempt has been made to assess the simultaneous impact of these five intrinsic factors on impulsive buying behaviour. Importantly, the findings also revealed that the influence of intrinsic variables on impulsive buying behaviour did not vary across gender.     

The influence of self-construal and co-consumption others on consumer complaining behavior

Consumers show great individual variability in complaining behavior even after experiencing similar service failures. The present study examined the effect of self-construal and co-consumption others on consumer complaining behavior following a service failure. Based on an experimental study with a sample of 202 in a restaurant context, MANCOVA results revealed significant effects of self-construal on voice response and switching behavior. The results also showed a significant interaction effect of self-construal and the presence of co-consumption others on switching behavior. The findings shed light into the intrapersonal and interpersonal dynamics at work when consumers react to service failures. Theoretical and managerial implications of the findings are also discussed.     

Test for the real option in consumer behavior

Consumers become indecisive when facing too many choices. Economic analysis suggests that when a decision involves uncertain outcome, can be delayed and is irreversible, there will be a real option in the cost–benefit analysis. For example, the option to keep alive a consumer's purchasing decision has a significant value. It allows the consumer to take advantage of any future advantageous deals while avoiding the bad choices. This renders the consumer more hesitant. When a consumer decides to exercise his buying decision, he demands a compensation for the loss of this option. Hence, the benefits of a purchase must be over and above its costs by a wide margin (the option value). Data from a survey at a Turkish university on hypothetical purchase decisions confirmed the existence of this real option. We conclude with marketing policy recommendations and future research directions. Connection to the Prospect Theory is briefly explored.Note: Although the 3rd person singular pronoun he/his was used throughout to describe the consumer, he was intended to be gender-neutral.     

Book review

Leisure Counseling: Selected Lifestyle Processes. By Chester F. McDowell, Jr., Ph.D. Center for Leisure Studies, University of Oregon, 1976.