Optimizing and Evaluating Retail Assortments for Infrequently Purchased Products

This article develops a methodology for choosing optimal retail assortments for infrequently purchased products and assessing the robustness of such assortments with regard to shifts in customer preferences. The approach incorporates heterogeneous consumer preferences and uses integer programming to determine optimal retail assortments. The robustness of the resulting assortments is examined using alternative consumer choice assumptions and ranges of parameter values. The methodology is illustrated using adaptive conjoint data collected via the Internet and is assessed against the sales results from an assortment offered by a national retail chain.     

Sport and Measurement of Competition

Summary  Sport is becoming an activity of increasing importance: over time more people participate in sport (active sport consumption), more time is spent watching sport (passive sport consumption). An important part of sport consumption is passive sport consumption where production and consumption are separate: (professional) athletes engage in a contest, and fans pay to watch the contest. An important characteristic of sport that generates this demand is relative competition: the competitiveness of a particular match or league. In this paper, we set out to measure competitive balance in three sports (soccer, tennis, and skating), and assess its development over time. As we separate variation in quality of teams or athletes from randomness of outcome, we can compare relative competition in these three sports. Part of this paper was written when I enjoyed the hospitality of the University of Salford. I thank David Forrest, Ian McHale, and Bertus Talsma for fruitful discussions. Bertus Talsma helped to get the skating data. All calculations and graphs were done using R (R Development Core Team 2008). An Appendix with additional tables and graphs is available on .     

Factors influencing social capital in rural tourism communities in South Korea

This study aimed to identify the factors influencing social capital as it affects community conflict management for community residents in rural tourism villages. An on-site survey consisting of self-administered questionnaires was conducted with residents of rural tourism communities. These self-administered surveys were obtained from 380 community residents in the study area. A factor-clustering method identified distinct segments: high social capital (52%) and low social capital (47.7%). The estimation of a binary logistic regression model determined the characteristics of community residents who were most likely to be associated with each type of social capital. Results indicated that fruit, vegetable and rice farmers who also operated farm-stay businesses and rural activity programmes for tourists had the most social. We suggest that certain types of government policy programmes are helpful for increasing social capital and managing community conflicts by means of involvement in the tourism business.     

Willingness to Pay for Pesticide Free Fruits: Evidence from Pakistan

ABSTRACT

This paper analyzes factors influencing consumption decision of pesticide free fruits (PFF) and estimates the willingness to pay (WTP) price premium for PFF in Pakistan. A contingent valuation survey of 200 households was conducted using face to face interview and payment card method. Results suggested that 93.5% respondents were WTP higher prices for PFF. Remarkably, around 35% respondents were WTP 16–20% higher prices and 24% respondents were WTP 6–10% higher prices for PFF than the existed conventional price. In addition, our ordered logit regression suggests that demographic and socio-economic variables such as age, education, income, household’s size and perception about health benefits are significantly associated with higher WTP for PFF.     

Tourist preferences for rural house stays: Evidence from discrete choice modelling in Spain

Although the appeal of rural houses for tourists lies mainly in the natural surroundings and their intrinsic rural characteristics, there are other factors which are also important such as their size, type of building, quality of equipment, services and activities offered. To evaluate the tourists' preferences for these potential or effective attributes, a stated preference experiment was conducted in the Northwest area of the Region of Murcia and the data are analysed using discrete choice modelling methodology. Consistent specifications for multinomial logit and mixed logit models that consider variations in tastes within tourists' preferences are found. The results could be of use to promoters and owners of rural houses when planning marketing and promotional campaigns or when taking effective investment decisions.     

Adoption and welfare impacts of multiple agricultural technologies: evidence from eastern Zambia

Using plot level panel data and multinomial endogenous switching regression, this article analyzes the adoption and welfare impacts of multiple agricultural technologies in eastern Zambia. We adapt a multinomial endogenous switching/treatment effect regression framework to correct for selection bias and endogeneity originating from both observed and unobserved heterogeneity. Results indicate that joint adoption of multiple agricultural technologies had greater impacts on crop yields, household incomes, and poverty than the adoption of individual components of the technology package. Our findings suggest that efforts aimed at raising household incomes and reducing poverty should focus on promoting the adoption of multiple agricultural technologies through provision of improved support services such as extension and input supply.     

Assessing Consumer and Producer Preferences for Animal Welfare Using a Common Elicitation Format

We assess pig farmers’ willingness‐to‐accept (WTA) higher farm animal welfare (FAW) standards and consumers’ willingness‐to‐pay (WTP) for thus enhanced standards. The analysis is based on discrete choice experiments with nearly identical choice sets for both farmers (N=140) and consumers (N=554). Based on preference estimates from a random parameter logit (RPL) model, supply and demand curves for high‐welfare pork in Germany are estimated and market equilibria are derived for alternative levels of FAW. We find that estimates of consumer WTP are significantly positive for all FAW attributes: consumers value more surface space per pig, more bedding and manipulable material, less surgical interventions and shorter transportation times. In contrast, our model revealed significant producer WTA estimates only for surface area per pig and the amount of bedding material on offer, but not for the other FAW attributes. Farmers who expect to continue farming and engage in direct marketing are more likely to adopt higher FAW standards. Male consumers and those who find price more important than brand, origin or taste are less likely to buy high‐welfare pork, as are consumers who never purchase organic meat products. Market simulations for high‐welfare pork indicate increasing divergence between demand and supply with rising FAW standards. We estimate a market share of 44.6% for pork produced in compliance with an entry‐level FAW programme with standards only slightly above the legal minimum. Programmes with more demanding standards are estimated to gain much smaller market shares.     

中小板上市公司管理层盈余预测质量的影响因素研究

管理层盈余预测是中小板上市公司对未来展望的信息,在信息披露中占据着越来越重要的地位。本文选取2013-2015 年中小板上市公司相关数据,运用广义多分类无序logit 模型对影响中小板上市公司管理层盈余预测质量的因素进行探究,以期提高管理层盈余预测的质量。经研究结果表明,公司的独立董事占比、年度召开董事会次数、股权集中度、净资产收益率、管理层持股比例等因素越高,对提高中小板上市公司管理层盈余预测质量越有益,除此之外,中小板上市公司董事长和总经理兼任情况,与公司合作的审计机构专业程度均对管理层盈余预测的质量有一定影响。     

Home-end and activity-end preferences for access to and egress from train stations in the Copenhagen region

Increasing public transport use with the aim of improving the sustainability of cities should focus not only on enhancing level and quality of the service offered, but also on understanding determinants of the choice of access and egress modes to and from the railway network. This study analyzes the difference in preferences at the home-end and activity-end for travelers who have chosen train as their main travel mode while investigating the effect of policy variables such as car parking availability, bicycle parking availability and type, and bicycle on train possibility. Specifically, this study analyzes the choices between five transport modes (i.e., “walk,” “bicycle,” “car driver,” “car passenger,” “bus”) for 2921 home-end and 3658 activity-end trips. Joint mixed logit models are specified and estimated to account for heteroscedasticity and correlation across alternative modes as well as taste heterogeneity across travelers. Model estimates and pseudo-elasticities uncover the importance of travel time and underline how the improvement of walkability, bikeability, and bus service would contribute significantly to the increase in the probability of choosing sustainable modes to and from train stations. Moreover, model results emphasize the role of bicycle parking in terms of the sheer number of spaces to be increased as well as covered places to be offered at the activity end, de facto giving the possibility to leave a bicycle at that end during the night. Lastly, model results show that it is a matter of not only time and trip characteristics, but also traveler characteristics, occupation, and purpose.     

How do hotels choose their location? Evidence from hotels in Beijing

This study aims to investigate potential factors contributing to the hotel location choice by an ordered logit model incorporating both hotel and location characteristics. The results suggest that, star rating, years after opening, service diversification, ownership, agglomeration effect, public service infrastructure, road accessibility, subway accessibility, and accessibility to tourism sites are important determinants. By examining location models for different periods, different star rating levels, and different ownership, we show that, downscale hotels tend not to actively seek the benefits of agglomeration effects while upscale ones are more sensitive to accessibility. Finally, agglomeration effects are further investigated by looking into agglomeration heterogeneity, agglomeration scope, scale related and ownership related agglomeration, and agglomeration zoning.