Third‐person perception and purchase behavior in response to various selling methods

Two studies investigated whether various tactics of personal selling that generate different levels of resistance also produce different degrees of third‐person perceptions. Furthermore, the studies compared third‐person perceptions to the actual influence on behavior. Study 1 showed that more direct and blatant selling methods produce more TPP. Study 2 showed that people tend to underestimate the influence of the more direct method, especially with regard to themselves. The study concludes by identifying the ideal selling method as one in which the customers are asked about their willingness to listen to the sales campaign before they are told about it. This method increases sales and creates satisfied customers. © 2009 Wiley Periodicals, Inc.     

Optimal information revelation in procurement schemes

A buyer procuring a single input possesses private information about each potential supplier's degree of fit with the buyer's needs. She can search among suppliers either sequentially or simultaneously. As long as the distribution of the fit parameter is not overly skewed to the left, sharing information with suppliers yields intensified price competition under simultaneous search. Moreover, the buyer cannot benefit by providing suppliers additional information beyond their own fitness parameter. Information revelation is never optimal with sequential search.     

Pricing Practices of Resellers in the Airline Industry: Posted Price vs. Name‐Your‐Own‐Price Models

I find that when a reseller with market power serves an airline company and only linear contracts are feasible, the airline prefers that the reseller utilizes the Name‐Your‐Own‐Price (NYOP) (a la Priceline) instead of the Posted Price (PP) (a la Hotwire) model. Essentially, the airline can better extract the surplus of the reseller if power over pricing is in the hands of numerous consumers, each bidding according to her preferences, instead of being concentrated in the hands of the reseller. Introducing two part tariff contracts or competition among resellers eliminates the distinction between the two pricing models. Either form of pricing generates the same outcome as vertical integration of the airline with the downstream market of resellers.     

The perils of debt deflation in the Euro area: a multi regime model

Academic research and policy makers in the Euro area are currently concerned with the threat of debt deflation and secular stagnation in Europe. Empirical evidence seems to suggest that secular stagnation and debt deflation in the Euro area may be rather slowly developing. Yet what appears as major peril is that debt deflation with a lack of economic growth, rising real interest rates and further rising debt may trigger household defaults, defaults of firms and banks, rise of risk premia, and default risk of certain sectors of the economy or sovereign defaults. It is this rising default and financial risk that may lead to a regime change to a slowly moving debt crisis with high financial risk and high financial stress. In order to explore those issues, a macro policy model of Svensson type is introduced, exhibiting a regime of low and high financial stress. Then, a four dimensional multi-regime VAR is employed to an Euro area data set to support the theoretical model and the claim that in particular Southern Euro area countries are affected by debt deflation and financial market stress.     

On the implications of declining population growth for regional migration

Although many advanced economies nowadays experience decreasing populations, migration in models of economic growth has so far been almost exclusively analyzed for the case of non-negative population growth rates. This paper considers decreasing and possibly negative population growth rates in two two-sector growth models. As long as preferences are homothetic, neither a decrease in population growth rates nor an actual population decline does induce migration in either direction. Introducing quasi-linear preferences implies that a decline in population growth leads to migration from the rural to the industrial region. A complete depopulation of the rural region takes place if the population growth rate falls short of minus the rate of physical capital depreciation. These results reinforce pessimistic expectations about a rural exodus.     

中国投行游向大海

中国新兴的投资银行业已经决意离开中国原有的游泳池，到大海里一试身手。他们已经成功晋身亚洲顶尖投行阵容，但真正的挑战是他们会否像日本投行那样，虽然名声在外，但仍在大海里苦苦挣扎。     

Integrating competing conceptions of risk: A call for future direction of research

The goal of this paper is to propose a theoretical framework that integrates between what has been traditionally presented in the risk literature as two opposing perspectives: the positivist‐probabilistic and the contextualist. Acknowledging the differences between the two, we argue that a reconciliation of both could deepen and expand our understanding of risk, enlarge the scope and utilization of research methodologies, and bridge the gap between lay people's and experts' conceptions of risk. This line of thinking reflects a dialectical approach in suggesting integration (‘synthesis’), while acknowledging the existence of differences and oppositions (‘antitheses’). In 1986, Bruner's conceptualization of two irreducible, and at the same time, possibly integrated modes of thought can serve as a promising direction for researching risk. We further suggest how this line of thinking can be integrated utilizing the mixed‐method design in the study of risk. We claim that the positivist‐probabilistic and contextualist perspectives represent two different approaches to understanding and studying risk, and that any attempt to reduce or ignore one at the expense of the other would result in a limited understanding of the phenomenon.     

Can platform competition support market segmentation? Network externalities versus matching efficiency in equity crowdfunding markets

We investigate whether, in spite of the existence of cross‐market network externalities, platform competition can lead to segmentation of the two sides of the market served by the platforms. We address this question in the context of competition between two equity crowdfunding platforms that connect startups looking for capital with prospective investors. Given the heterogeneity in the populations of startups and investors in terms of the riskiness of the former population and the degree of risk aversion of the latter population, we investigate whether there exists an equilibrium where the two populations are segmented to ensure an improved match between them. We find that the segmenting equilibrium can arise only when compatibility in terms of their risk profiles is of high importance to both populations, and compatibility is significantly more important than the size of the network externality considered by startups. Segmentation is likely to improve the welfare of both populations when the basic benefit from any kind of match is relatively high.     

Multiple steady states and indeterminacy in the Uzawa–Lucas model with educational externalities

This paper examines a foreign technology holder’s licensing choices between royalty and fixed-fee scheme. We emphasize that foreign licensor chooses the quality of licensed technology when the licensee country does not implement perfect intellectual property protection for licensor’s technology. We study quality choice as the foreign licensor’s selection for a particular grade of technical skills. We show that fixed fee emerges as the equilibrium licensing scheme when both the transfer of his technology is relatively efficient and the licensee is sufficiently cost competitive in the domestic market, and that royalty licensing prevails otherwise. We further show it need not hold the general belief that welfare in the licensor country unambiguously rise with a stronger patenting system in the licensee country when, in particular, such patenting system in place is sufficiently lax.     

An Integrative Perspective of Online Foraging Behavior with Search Engines

While technology evolves rapidly, humans have to adapt to the environment. Evolutionary theories are proposed as an overarching framework to explain the information systems phenomena. However, there is a need to develop these theories in more realistic contexts, and to integrate them with nonevolutionary theories, in order to gain a better understanding of human–computer interactions. Searching entails uncertainty, and the feelings that it arouses may affect search behavior. This research aims to fill this gap by examining the impact of situational factors on online foraging with search engines, taking into account users’ behavior and their emotional responses during the process. The results stress the importance of the initial emotional state and the temporal dimension in shaping the online environment that determines the online search behavior.