Two Essays On Consumer Choice
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Two Essays On Consumer Choice
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Author : Rishin Roy
language : en
Publisher:
Release Date : 1990
Two Essays On Consumer Choice written by Rishin Roy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with categories.
Two Essays On The Role Of Price Promotion In Consumer Choice Behavior
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Author : Sangman Han
language : en
Publisher:
Release Date : 1993
Two Essays On The Role Of Price Promotion In Consumer Choice Behavior written by Sangman Han and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.
Essays On Consumer Choice Tastes And Lenders Risk Aversion Amid Consumer Default
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Author : Michael DeDad
language : en
Publisher:
Release Date : 2020
Essays On Consumer Choice Tastes And Lenders Risk Aversion Amid Consumer Default written by Michael DeDad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Consumer behavior categories.
This dissertation consists of three chapters, two of which address consumer choices and tastes and one that addresses risk aversion in lending. The chapters are organized as follows: Chapter 1, "Tastes in the United States: Convergence or Divergence?": This study investigates how tastes for consumption goods across the United States have changed in the 2000s. Using Nielsen Homescan barcode-scanner data, I find evidence of an overall divergence in food tastes from 2007 to 2016 between households of different regional markets and different income, education, and race groups. There is evidence of convergence between rural households, while urban/rural groups and some race groups do not show an overall change in taste differences across groups. Across regional markets, political distance explains taste differences better than geographical distance.Chapter 2, "Human Capital and Quality Choice": This paper argues that human capital increases a consumer's ability to evaluate and appreciate the quality of information-intensive goods. We show theoretically that consumers with more human capital have steeper Engel curves for higher-quality varieties. We test this prediction using Nielsen Homescan data and focus on organic milk consumption in the United States. Using education as a proxy for human capital, we show that households with college-educated heads have steeper Engel curves for organic milk than those without college-educated heads.Chapter 3, "Risk Aversion in Lending Following the Financial Crisis": Following the 2007-2008 financial crisis, bank lending dropped dramatically, and the decline persisted well into the recovery period. This paper attempts to explain the drop in lending using a consumer default model with risk aversion in loan pricing. The version of the model with risk aversion is compared to one that uses the standard assumption of risk-neutral financial intermediaries to see if a model with risk aversion more accurately predicts lending in the post-crisis period. The risk-averse pricing model consistently generates more accurate interest rates than the risk-neutral pricing model, while the risk-neutral pricing model more accurately predicts the debt-output ratio.
Essays On Dynamic Consumers Brand Choice
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Author : Nahyeon Bak
language : en
Publisher:
Release Date : 2019
Essays On Dynamic Consumers Brand Choice written by Nahyeon Bak and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This dissertation is a collection of essays on consumer's state dependent choice. In many consumers packaged goods markets, consumer's brand choice is highly persistent because of state dependence where past choice directly influence present choice. Chapter I investigates why consumer choices show state dependence by testing two competing theories: learning and switching costs. To test them, I used a Nielsen consumer panel data set including a long history of repeated purchases by 28,724 households from 2006-2015. Reduced form estimates suggest that the results align with learning, but not switching costs. I also find the only the first and second brand experiences affect present choice. In Chapter II, consistent with reduced-form analysis, I hypothesize that under learning behavior, if consumers try a new brand, consumers are likely to choose a smaller size than before because of uncertainty on product information, if not, consumers are likely to choose a bigger size than before because of lower price per unit with a bigger size. However, under switching cost behavior, consumers size choice will not be affected by brand switching decision. To test this causal relationship between brand switching decision and size choice, I adopt double machine learning method. Compared to previous reduced-form analysis, double machine learning model specifies a set of control variables without human judgement and it provides a causal parameter. Also, compared to naive or prediction based machine learning models, it overcomes the regularization bias by using Neyman orthogonality and over-fitting problems by using sample splitting method. As a result, I find that consumer's new trial on a brand leads to choose a smaller size choice than before where it supports learning behavior, not switching costs behavior. These reduced form studies of Chapter I and II motivate structural approaches to empirical modeling. Chapter III tests the two competing theories with a structural demand model that incorporated variety-seeking behavior. Previous studies failed to explain how states affect two decisions: not only persistent brand choice, but also brand switching that usually variety-seeker have shown. To incorporate these decisions, I develop a dynamic panel demand model with multiple discreteness choices for estimating preferences where some consumers switch brand frequently even most consumers show persistent brand choice. I first find that consumers learn fast, which disputes previous slowdown learning models such as Bayesian learning. Second, state dependence of consumer choice diminishes with time elapsed from each purchase. These findings are robust to controlling variety seeking behavior or not. Combining Chapter I, II, and III, I conclude that with the assumption on myopic consumers, because of learning behavior, consumers show persistent brand choice in the initial shopping period, but as they exposure to the same brands again and again, they become satiated the brand. In other words, consumers show diminishing marginal utility over quantity consumed. Therefore, consumers switch a brand.
Essays In Consumer Choice
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Author : Salar Jahedi
language : en
Publisher:
Release Date : 2009
Essays In Consumer Choice written by Salar Jahedi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Essays On Consumers Goal Orientation And Price Sensitivity
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Author : Woo Jin Choi
language : en
Publisher:
Release Date : 2012
Essays On Consumers Goal Orientation And Price Sensitivity written by Woo Jin Choi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
The objective of my dissertation work was to provide a better understanding of consumer choices related to these two important tradeoffs that consumers are often confronted with in the marketplace. Drawing upon regulatory focus theory, I investigated how consumers choose between price and quality or price and quantity, in each of two essays, thereby shedding light on the role of consumer goals in purchase decisions. In the first essay, I propose that quality is predominantly a promotion feature whereas price is predominantly a prevention feature. Therefore, promotion oriented consumers should be more attentive to differences in product quality whereas prevention oriented consumers should be more attentive to differences in product price. Three studies demonstrate that quality (price) is more strongly associated with a promotion (prevention) orientation, that promotion (prevention) oriented consumers prefer products with higher quality (cheaper prices), and that these preferences are mitigated when consumers do not need to prioritize between price and quality and are mediated by relative attention to quality versus price. In the second essay, I investigate the manner in which consumers' goal orientations affect their preferences for monetary versus nonmonetary promotional offers, such as bonus packs and price discounts. I propose that consumers with a promotion (vs. prevention) orientation are more likely to prefer a bonus pack offer over an economically equivalent price discount offer. Two pretests and one study provide empirical support for this key prediction. I also identify theoretically defensible and managerially actionable boundary conditions for this effect that are related to price levels and product types.
Essays On Consumer Choice
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Author : Pavitra Jindahra
language : en
Publisher:
Release Date : 2005
Essays On Consumer Choice written by Pavitra Jindahra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
The Continuum Of Choice Essays On How Consumer Decisions Are Made Changed And Perceived
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Author : Katherine N. Barasz
language : en
Publisher:
Release Date : 2016
The Continuum Of Choice Essays On How Consumer Decisions Are Made Changed And Perceived written by Katherine N. Barasz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This research investigates the continuum of choice--unseen, unanticipated causes and consequences of consumer decisions. Three essays investigate hidden factors that influence the choices we make, subtle ways to affect choice at the moment of execution, and the overlooked signals that our choices convey (correctly or incorrectly) about us to others. Essay one investigates the perverse tendency to hope for the worst: when faced with a difficult decision (e.g., whether or not to have surgery), people can paradoxically feel subjectively better with--and even actively prefer--objectively worse but certain news (e.g., "95% chance of a disease") over objectively better but more uncertain news (e.g., "50% chance of a disease"). This, in turn, has the potential to meaningfully change people's subsequent choices and preferences in unexpected ways. Essay two examines a subtle intervention to change people's decisions about engagement levels: arbitrarily grouping discrete tasks or items together as part of an apparent "set" motivates people to reach perceived completion points--or finish a pseudo-set--even in the absence of extrinsic incentives. Essay three explores the judgments people make after observing others' choices; specifically, upon learning of someone's choice of one option, people erroneously believe that person must dislike dissimilar options, leading to a pervasive and systematic prediction error.
Essays On Consumer Choice And Public Policy
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Author : Jukwan Lee
language : en
Publisher:
Release Date : 2019
Essays On Consumer Choice And Public Policy written by Jukwan Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This dissertation consists of three chapters on consumer choice and public policy. The first chapter re-evaluates the realized efficacy of increasing block pricing (IBP). IBP is expected to give a positive social benefit, this assumes that consumers are attentive to the marginal price, which is questioned by recent literature. This paper measures the welfare loss from inattentiveness to the marginal price, which is defined as the misperception effect. By comparing IBP's efficacy and the misperception effect, the net benefit of using an IBP schedule is revealed. This study starts by identifying consumers' perceived marginal price. Using this perceived price, the demand curve can be estimated. After that, each consumer's and firm's surplus change are calculated. The second chapter studies the impact of snowfall on airport operation and suggests a comprehensive benefit and cost analysis on airport investment. Using two advanced econometric method, the Triple Difference model and the Nearest Neighbor Matching, this study first develops a Delay Analysis model to evaluate the exact effect of snowfall delay and secondly conducts the Net Present Value analysis on the Heated Pavement System (HPS). Delays by snows estimated up to about 9 minutes for airports in the Boston area, and HPS is feasible for airports with a great number of flights and passengers, such as Boston Logan airport.The third chapter explores the expected result of investment in runway, which could, in turn, reduce snow-related delays and cancellations. Three airports in the Boston area are selected since the geographical proximity would lead to intense competition once they are privatized. Each airport's arrival and departure itinerary data is used for assessment and identification of cost and benefit conditions to achieve this investment. For the analysis, this study constructs a two-stage game model of airports and airlines and follows the subgame perfect equilibrium. Backward induction and simulation for the different scenario are used for analysis. The equilibrium conditions show that private competition between profit maximization airports can stimulate large investment in a heated runway.
Two Essays On The Impact Of Goals On Consumer Behavior
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Author : Meng Zhang
language : en
Publisher:
Release Date : 2006
Two Essays On The Impact Of Goals On Consumer Behavior written by Meng Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Dissertations, Academic categories.
This dissertation includes two essays on the impact of goals on consumer behavior. The first essay investigates the moderating role of regulatory focus in resolving product choice involving conflicting goals. Specifically, the results of four experiments demonstrate that when both a high-level and a low-level consumer goal are active, but cannot be satisfied by a single product, consumers with a promotion focus are more likely to choose a product that satisfies the high-level goal whereas consumers with a prevention focus are more likely to choose a product that satisfies the low-level goal. These experiments also find that these effects occur because the promotion focus and the prevention focus has different effects on the accessibility of the high-level and low-level goals, and the accessibility of goals, in turn mediates the effects on conflicting product choice. The results of five experiments show that (1) the brand-as-means is different from other brands that are perceived to be equally capable of satisfying this goal. Specifically, when the goal is activated, both its cognitive properties (e.g., activation) and its motivational properties (e.g., wanting and specific affective experience) get transferred to the brand-as-means, but not to other brands (experiment 1 to 3), and (2) when the goal is activated, the brand-as-means is more likely to be selected over other brands (experiment 4 and 5). The second essay examines situations in which there are multiple brands in a product category that consumers perceive as equally capable of satisfying an active goal. Based on the recent goal system theory in social psychology (Kruglanski et al. 2002), we propose the concept of brand-as-means and demonstrate how it differs from other brands. We conceptualize brand-as-means as a consumer's idiosyncratic way to achieve their personal goal. Others may use other brands to achieve the same goal, but these brands could vary by consumer. We further propose that the brand-as-means is a part of a consumer's goal system, whereas other brands are exclusively represented in the consumer' knowledge structure.