Essays On Economics And Marketing
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Essays On The Economics And Marketing Of New Products
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Author : Güenter J. Hitsch
language : en
Publisher:
Release Date : 2002
Essays On The Economics And Marketing Of New Products written by Güenter J. Hitsch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Essays On Economics And Marketing
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Author : Yu-Hung Chen (Economics scholar)
language : en
Publisher:
Release Date : 2016
Essays On Economics And Marketing written by Yu-Hung Chen (Economics scholar) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Electronic dissertations categories.
Chapter 1: Dynamic Pricing and Price Commitment of New Experience Goods An important problem for a firm selling new experience goods is how to credibly signal its high quality. This chapter develops a dynamic model to examine how a firm with a non-durable experience good can signal its quality with dynamic spot-pricing or future-price commitment. I find that when consumers do not believe the firms price commitment to be credible, the high-quality firms most profitable equilibrium outcome is to pool in the first period and separate in the second period. In contrast, when price commitment is credible, the high-quality firm may signal its quality with either a lower-than-first-best first-period price or a higher-than-first-best second-period price. Credible price commitment will benefit the high-quality firm by lowering its signaling cost and hurt the low-quality firm, but can either increase or decrease consumer surplus and social welfare depending on the quality difference between the two types of firms. Chapter 2: Dynamic Pricing of Experience Goods in Markets with Demand Uncertainty This chapter studies a firms optimal dynamic pricing strategies for its experience goods in markets, where the distribution of consumers valuations is ex ante unknown. I find several interesting findings. First, a high-quality firm can signal its quality with either a skimming-pricing strategy or a penetration-pricing strategy in the early period. Second, though a firm with higher quality benefits more from learning market demand, in equilibrium the low-quality firm not the high-quality firm will learn demand if consumers have very different willingness to pay. Third, although consumers have higher willingness to pay for the high-quality product, in the first period the high-quality firm may actually charge a lower price than the low-quality firm. Lastly, the firm may earn higher profits when its initial pricing decision is made under demand uncertainty than under no demand uncertainty. The underlying reason is that the presence of demand uncertainty can sufficiently lower the high-quality firms signaling cost, allowing it to make higher profits by setting future prices based on its high quality. Chapter 3: Who Benefits from Big Data Collected by In-Vehicle Data Recorders? The car insurance market is plagued with problems of adverse selection and moral hazard. In-vehicle data recorders can collect massive amount of information (or "big data") about the drivers risk factors and driving behaviors. This monitoring technology allows the firm to set its insurance premium based on better estimates of the drivers risk factors, alleviating the adverse selection problem. In addition, the firm can charge a premium based on the customers recorded driving behaviors; this helps to reduce the drivers moral hazard. I provide an analytical framework to examine the impact of such monitoring technology on the insurance firms and the consumers. My analysis shows that in a duopoly one firms adoption of the monitoring technology may benefit both firms because of the less severe competition in the market. Finally, I show that if one firm has adopted the monitoring technology, its competitor may have no incentive to adopt that technology even if it is free.
The Meaning Of The Market Process
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Author : Israel M Kirzner
language : en
Publisher: Routledge
Release Date : 2002-09-11
The Meaning Of The Market Process written by Israel M Kirzner and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-11 with Business & Economics categories.
Israel Kirzner is the foremost proponent of the modern Austrian theory of the market process. This book offers substantive insights in support of this theory and a new historical interpretation of how the ideas of modern Austrians emerged.
Microeconomics For Business And Marketing
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Author : Peter E. Earl
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995
Microeconomics For Business And Marketing written by Peter E. Earl and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
This text, which is designed for intermediate-level students of microeconomics, offers a series of alternative approaches to economic analysis. It emphasizes practical problem-solving, making it relevant to students of business and commerce. As well as neoclassical microeconomics, it seeks to promote an awareness of different approaches, including the application of behavioural-institutionalist economics to real world problems. Rather than emphasizing technical set pieces, this book offers students a range of approaches such as behavioural theories of consumer choice and institutionalist analysis of the economics.
Marketing And The Common Good
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Author : Patrick E. Murphy
language : en
Publisher: Routledge
Release Date : 2013-07-24
Marketing And The Common Good written by Patrick E. Murphy and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-24 with Business & Economics categories.
Marketing is among the most powerful cultural forces at work in the contemporary world, affecting not merely consumer behaviour, but almost every aspect of human behaviour. While the potential for marketing both to promote and threaten societal well-being has been a perennial focus of inquiry, the current global intellectual and political climate has lent this topic extra gravitas. Through original research and scholarship from the influential Mendoza School of Business, this book looks at marketing’s ramifications far beyond simple economic exchange. It addresses four major topic areas: societal aspects of marketing and consumption; the social and ethical thought; sustainability; and public policy issues, in order to explore the wider relationship of marketing within the ethical and moral economy and its implications for the common good. By bringing together the wide-ranging and interdisciplinary contributions, it provides a uniquely comprehensive and challenging exploration of some of the most pressing themes for business and society today.
Essays In Industrial Organization Marketing And Financial Economics
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Author : Toker Doganoglu
language : de
Publisher:
Release Date : 2006
Essays In Industrial Organization Marketing And Financial Economics written by Toker Doganoglu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Interaction And Market Structure
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Author : Domenico Delli Gatti
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Interaction And Market Structure written by Domenico Delli Gatti and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
This book is a collection of essays which examine how the properties of aggregate variables are influenced by the actions and interactions of heterogenous individuals in different economic contexts. The common denominator of the essays is a critique of the representative agent hypothesis. If this hypothesis were correct, the behaviour of the aggregate variable would simply be the reproduction of individual optimising behaviour. In the methodology of the hard sciences, one of the achievements of the quantum revolution has been the rebuttal of the notion that aggregate behaviour can be explained on the basis of the behaviour of a single unit: the elementary particle does not even exist as a single entity but as a network, a system of interacting units. In this book, new tracks in economics which parallel the developments in physics mentioned above are explored. The essays, in fact are contributions to the analysis of the economy as a complex evolving system of interacting agents.
Essays In Marketing Economics And Optimization
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Author : Ding Ma
language : en
Publisher:
Release Date : 2018
Essays In Marketing Economics And Optimization written by Ding Ma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This thesis includes four self-contained essays on marketing, economics, and optimization, all sharing a common theme: creating numerical models and algorithms to tackle computationally challenging optimization problems. The first essay considers geographic sub-branding via manufacture location in marketing. Manufacture location, as part of geographic product identity, is becoming a significant differential factor among a variety of products and a sub-branding element in various markets, but there is little empirical research on how manufacture location influences consumer preference and purchase choices. The first barrier comes naturally from the market. Most of the time, manufacture location is completely correlated with product characteristics. I was fortunately able to acquire both data and a whole year research grant from Ford Motor Company. New car buyer data in the Chinese automobile market makes possible the analysis of manufacture location as a geographic sub-branding element. Hedonic price analysis gives us a quick and intuitive view of how much consumers are willing to pay for geographic sub-branding products, and also motivates our new brand and sub-brand definition for a BLP-type random coefficient discrete choice model. However, using General Method of Moments (GMM) to estimate the variance-covariance matrix of consumer brand taste coefficients poses another challenge for all existing optimization solvers. To prevent indefinite unknown variance-covariance matrices in the constraints of the optimization problem from terminating the solver, I reformulate the optimization program and successfully solve the problem. If the computation becomes more difficult, we can also apply our new algorithm NCL, which is described in details in the third essay. Our results reveal the strong substitution patterns in the market and confirm our definition and framework of brand and geographic identity. Furthermore, our method can be helpful in the analysis of branding and sub-branding in other empirical settings. The second essay studies optimal income taxation with multidimensional taxpayer types in economics. This engendered the subject of the third essay: stabilized optimization via an NCL algorithm in numerical optimization. The income taxation literature has generally focused on economies where individuals differ only in their productivity, i.e., income. In reality, people differ in many ways. In our models, we consider people's productivity, basic needs, distaste for work, the elasticity of labor supply, and the elasticity of demand for consumption. We find that extra dimensions give us substantially different and interesting results. In certain cases, high-productivity people may pay negative tax. Therefore, considering income taxation in multiple dimensions is essential, and again is computationally challenging. All existing optimization solvers fail to find optimal solutions. Eventually, we transformed the model, created a new algorithm (NCL), and solved the high-dimension difficult optimization problems. The nonlinearly constrained augmented Lagrangian algorithm (NCL) we created was motivated by the bound-constrained and the linearly constrained augmented Lagrangian algorithms (BCL and LCL). To facilitate implementation, we take advantage of the mathematical programming language AMPL. We did not have to write fifty thousand lines of Fortran code to implement NCL. The third essay on algorithm NCL was published this year in Numerical Analysis and Optimization. The taxation part remains as a working paper. I am excited about not only solving the complex income taxation models, but also creating a general algorithm that can be applied to tough mathematical models in different fields. For instance, our algorithm NCL can be easily adapted to nonlinear pricing in economics and marketing. The fourth essay considers reliable and efficient solution of genome-scale models of metabolism and macromolecular expression. For many years, scientific computing has advanced in two complementary ways: improved algorithms and improved hardware. In order to solve the large and complicated biochemical network of metabolism in systems biology, we made use of improved machine precision and created algorithms utilizing software-simulated quadruple precision arithmetic and successfully solved both original and reformulated optimization models. This essay is published in Scientific Reports. Today, our linear and non-linear quadruple precision solver quadMINOS is supporting the research of systems biologists in their COBRA (COnstraint-Based Reconstruction and Analysis) Toolbox, and it can also help researchers in many other areas. As my advisor Professor Michael Saunders predicts: ``Just as double precision floating-point hardware revolutionized scientific computing in the 1960s, the advent of the quadruple precision data type, even in software, brings us to a new era of greatly improved reliability in optimization solvers.''.
Economics And Marketing Essays In Honour Of G Sta Mickwitz
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Author :
language : en
Publisher:
Release Date : 1992
Economics And Marketing Essays In Honour Of G Sta Mickwitz written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Consumer behavior categories.
Competition In Marketing
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Author : Vera Magin
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-12-27
Competition In Marketing written by Vera Magin and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-27 with Business & Economics categories.
In her first essay Vera Magin uses primary experimental data to explore the effects of information on marketing decisions, performance, and competition. In the second essay she discusses several approaches to measure product differentiation in spatial contexts.