Effect of Price Change Alert on Perceptions of Hotel Attribute-based Room Pricing (ABP) versus Traditional Room Pricing (TRP)

Aside from marketing information on traditional room rates, hotels and online travel agents (OTAs) are trying a new pricing technique based on the attributes of guestrooms. This research investigates how attribute-based room pricing (ABP) differs from traditional room pricing (TRP) in influencing consumer reactions when consumers receive a price change alert before (vs. after) sales. Through a series of experiments, we found that TRP and ABP result in similar alert attitude, brand attitude, and visit intention for presale price change alert. However, ABP leads to more favorable results for postsale price change alert. We examined the underlying mechanism and found that perceived fairness mediates the effect of pricing strategy on brand attitude, price alert attitude, and visit intention for postsale alert only. This research provides hotel managers and OTA marketers with guidance on when to send either type of price change message to consumers.     

Revising price history: consumer price index for Norway 1492–2018

ABSTRACT

The paper presents a new combined annual cost of living and consumer price index for Norway covering 1492–2018, indicating that Norwegian price history has to be revised. The new historical price index is constructed on a significantly richer data material, which also makes it cover a longer period of price history than the existing one. This is made possible by the compilation of quantitative data from numerous sources, mostly originating from the eighteenth, nineteenth and early twentieth centuries, with grain prices stretching back to 1492. The new combined cost of living and consumer price index is constructed by a Laspeyres approach with shifting baskets for commodities and expenditure groups.

The index makes it possible to follow annual inflation and deflation in Norway for a period of 526 years. When comparing to existing indices, the new series reveals that revisions are needed in Norwegian price history. These make the historical price development more in line with those of the neighbouring countries and more in line with the pattern of wholesale prices.     

股价信息含量与投资-股价敏感性——基于融资融券的准自然实验

本文利用2006-2015年间的数据研究了融资融券对投资-股价敏感性的影响。利用融资融券作为股价信息含量的一个外生冲击变量,本文研究发现,我国A股市场确实存在反馈效应,融资融券政策的实施增强了标的公司投资-股价敏感性,这个结论在采用倾向得分模型(PSM)配对后依然成立,说明融资融券使股价融入了更多有利于管理层投资决策的信息。其次,融资融券对投资-股价敏感性的影响在机构投资者比例高、流动性高、处于新兴行业的这类管理层反馈效应更强的股票组中更显著。参照以往研究考虑了融资约束对反馈效应的调节作用,同样发现融资融券对投资-股价敏感性的影响在国有企业和规模较大的企业组中更显著。最后,融资融券交易规模越大,投资对股价的敏感性越强。     

Are USDA reports still news to changing crop markets?

This study investigates whether major USDA reports still provide important news to changing crop markets. The news component of each report, or market “surprise,” is measured as a difference between the USDA estimate and its private expectation in corn, soybeans, and wheat markets. Changes in the relevance of USDA information are assessed by examining changes in the magnitude of market surprises and shifts in the futures price reaction to these surprises, which isolates the impact of each report. The stable size of market surprises over time suggests that competition from alternative data sources has not reduced the news component of USDA crop reports. Increasing price reaction to most reports, including those facing competition from alternative information sources, suggests that value of public information may be enhanced in uncertain markets affected by structural changes.     

China and international market integration: Evidence from the law of one price in the Middle East and Africa

We model market integration in the Middle East and Africa by analyzing price dispersion and testing the law of one price (LOP) on highly-comparable actual local retail prices of 135 goods and services across 23 countries in the region over the period of 1990–2016. Second-generation panel estimators are applied to four price benchmarks: Regional average, South Africa, China, and US prices. Cross-regional price dispersion diminishes considerably over time up to 2008, particularly for non-tradeables around China price. The test of LOP indicates the percentage of convergent prices is highest in China price benchmark, followed by US, South Africa, and regional average benchmarks. Direct estimation of the convergence speed confirms this order. Overall, the results show evidence of increasing market integration in Middle East and Africa but it appears to be driven by global forces and, especially, the rise of China as a new economic power. The results show that some emerging market economies, such as China, can step up and promote integration while traditional economic powerhouses, such as the USA and UK, disengage from international economic relations.     

跨文化交际与外语教学

外语教学中重语言教学、轻文化教学这一现象有其产生的原因，同时也凸显了外语教学中跨文化交际技能培养的重要性。     

基于农业产业化的河南省区域差距研究

文章通过泰尔指数发现从1990年到2005年，河南省区域经济的差距处于一个快速扩大的阶段。通过定量分析发现，河南省区域经济发展水平和发展速度与农业生产具有一定的负相关性，通过定性和定量分析发现，农业产业化对区域差距缩小具有一定的作用，但不起主要作用，一是由于目前河南省农业产业化水平相对还是比较低，农业收入还仅仅停留于农产品的买卖价格，工资性收入所占比重过低，二是农业产业化龙头企业带动能力还是比较弱，带动面小，限制了农区经济的发展水平和速度，最后提出了几点建议。     

论本币升值对国内物价的影响路径

本币升值可通过实体经济、虚拟经济以及货币政策三个途径影响一国的国内价格;本币升值通过国内物价影响经济稳定存在一个正反馈机制;从短期来看,人民币升值不仅不能抑制国内物价上涨,还可能推动国内物价的上涨。     

谈谈酒店商务楼层的起源与发展

商务楼层作为一种特定的楼层，在世界各地兴起和迅速发展。通过阐述商务楼层的意义、起源与发展，揭示商务楼层与其他楼层的不同之处，目的是促使商务楼层进一步完善发展。     

中国郑州棉花期货市场的国际定价功能研究

本文借助计量经济学的分析方法,对郑州商品交易所、纽约期货交易所期棉价格与国内棉花现货价格这三者的关系进行了研究,并测算了郑州商品交易所与纽约期货交易所在价格发现中的贡献份额。研究结果表明,三者之间存在协整关系,纽约期货市场在国际棉花定价体系中占有主导地位,而导致郑州棉花期货市场国际定价功能弱化的原因则是国内棉花期货市场与现货市场缺乏有机联系。