scholarly journals Price as a Signal of Product Quality: Some Experimental Evidence

2014 ◽  
Vol 9 (2) ◽  
pp. 135-152 ◽  
Author(s):  
Giovanni Mastrobuoni ◽  
Franco Peracchi ◽  
Aleksey Tetenov
Keyword(s):  
Experimental Data ◽  
Experimental Design ◽  
Product Quality ◽  
Experimental Evidence ◽  
Jel Classification ◽  
Large Sample ◽  
Price Signals ◽  
Signaling Effect ◽  
Young Consumers ◽  
Wine Demand

AbstractWe use experimental data to disentangle the signaling and budgetary effects of price on wine demand. The experimental design allows us to isolate the two effects in a simple and intuitive way. The signaling effect is present and nonlinear: it is strongly positive between 3 euros and 5 euros and undetectable between 5 euros and 8 euros. We find a similar nonlinear price–quality relationship in a large sample of wine ratings from the same price segment, supporting the hypothesis that taster behavior in the experiment is consistent with rationally using prices as signals of quality. Price signals also have greater importance for inexperienced (young) consumers. (JEL Classification: D11, D12, D82)

Convective Losses From Cavity Solar Receivers—Comparisons Between Analytical Predictions and Experimental Results

1983 ◽  
Vol 105 (1) ◽  
pp. 29-33 ◽  
Author(s):  
A. M. Clausing
Keyword(s):  
Experimental Data ◽  
Experimental Evidence ◽  
Analytical Model ◽  
Excellent Agreement ◽  
Experimental Results ◽  
Simple Analytical Model ◽  
Refined Model ◽  
Wall Area

Cavity solar receivers are generally believed to have higher thermal efficiencies than external receivers due to reduced losses. A simple analytical model was presented by the author which indicated that the ability to heat the air inside the cavity often controls the convective loss from cavity receivers. Thus, if the receiver contains a large amount of inactive hot wall area, it can experience a large convective loss. Excellent experimental data from a variety of cavity configurations and orientations have recently become available. These data provided a means of testing and refining the analytical model. In this manuscript, a brief description of the refined model is presented. Emphasis is placed on using available experimental evidence to substantiate the hypothesized mechanisms and assumptions. Detailed comparisons are given between analytical predictions and experimental results. Excellent agreement is obtained, and the important mechanisms are more clearly delineated.

What Determines Port Wine Prices?

2007 ◽  
Vol 2 (2) ◽  
pp. 203-212 ◽  
Author(s):  
Rui Couto Viana ◽  
Lúcia Lima Rodrigues
Keyword(s):  
Jel Classification ◽  
Hedonic Price ◽  
Port Wine ◽  
Cross Sectional ◽  
Firm Reputation ◽  
Market Prices ◽  
Large Sample ◽  
Price Function ◽  
Hedonic Price Function ◽  
Port Wines

AbstractIn this study, we estimate a cross-sectional hedonic price function for Port wines in order to determine the price influence of several Port wine characteristics. Drawing on a large sample of more than 14,000 sales from the biggest Port wine firms we find that market prices can be explained by objective characteristics such as age, type of Port and type of brand appearing on the bottle label and subjective characteristics such as firm reputation. The Port type is the main price determinant. (JEL Classification: C21, Q11)

scholarly journals Is the formalization of NPD collaboration productive or counterproductive? Contingent effects of trust between partners

2020 ◽  
pp. 234094442091630 ◽  
Author(s):  
María Pemartín ◽  
Ana I Rodríguez-Escudero
Keyword(s):  
Product Quality ◽  
New Product Development ◽  
New Product ◽  
Jel Classification ◽  
Coordination Costs ◽  
Open Question ◽  
The Impact ◽  
Positive Effect ◽  
High Coordination ◽  
New Product Quality

New product development (NPD) collaborations with external partners involve high coordination costs and run substantial risks. Formalization seems to be an effective mechanism to mitigate said costs and risks, although the issue of whether formalization actually proves productive or counterproductive remains an open question. This study empirically analyses the direct impact of formalization and the interaction effect between formalization and trust between partners in order to gauge their influence on NPD collaboration performance. Findings indicate that formalization directly boosts the quality and novelty of the new product developed in collaboration, but that it does not affect adherence to schedule. In addition, trust reinforces the productive effect of formalization on new product quality and novelty, and makes the impact of formalization on adherence to schedule positive. However, without trust, we find a null impact of formalization on new product quality and a counterproductive impact on adherence to schedule. These results suggest that formalization and trust may complement each other, reinforcing each other’s positive effect on new product quality and novelty and presenting a positive synergistic effect, while helping to overcome the counterproductive effect of formalization on adherence to schedule. JEL CLASSIFICATION: O32

A re-examination of pseudoleucite from Spotted Fawn Creek, west-central Yukon

1969 ◽  
Vol 6 (1) ◽  
pp. 55-62 ◽  
Author(s):  
Dirk J. Tempelman-Kluit
Keyword(s):  
Experimental Data ◽  
Experimental Evidence ◽  
Water Pressure ◽  
Fluid Phase ◽  
Yukon Territory ◽  
Chemical Data ◽  
Partial Removal ◽  
West Central

New petrographic and chemical data for pseudoleucite from Spotted Fawn Creek and two new nearby localities in central Yukon Territory are presented and discussed in the light of recent experimental evidence on the origin of pseudoleucite. The petrologic, chemical, and experimental data suggest that natural pseudoleucite results from subsolidus breakdown of leucite under water pressure and that the space provided by this breakdown results in influx of the fluid phase that accomplishes partial removal of potash, enrichment in soda, and addition of water.

Hydrogen Distributions and Model Lineshapes of ESR Signals of Dangling Bonds in a-Si:H

2001 ◽  
Vol 664 ◽  
Author(s):  
P. A. Fedders
Keyword(s):  
Experimental Data ◽  
Experimental Evidence ◽  
Esr Spectra ◽  
Dangling Bonds ◽  
Model Calculations ◽  
Induced Defects

ABSTRACTFor many years it has been assumed widely that hydrogen is involved in some way in the formation of light induced defects. However recently some doubt has been cast on this because of experimental evidence that there is little H near light induced dangling bonds. In this paper we present a number of model calculations comparing ESR spectra of dangling bonds with and without correlations with H positions. The above models include different distributions of H and correlations or anti correlations of nearby H. In all cases the spectra are compared to those with no correlations or clustering. Our results coupled with published experimental data strongly suggest that dangling bonds are not correlated positively with the presence of nearby H and, in fact, it appears that light induced dangling bonds are negatively correlated with nearby H.

The Regional Impact of Biofuel Economics

2018 ◽  
Vol 12 (3) ◽  
pp. 369-386
Author(s):  
Stefan Walter
Keyword(s):  
Alternative Energy ◽  
Jel Classification ◽  
Regulatory Framework ◽  
Wood Products ◽  
Biofuel Production ◽  
Living Standard ◽  
Eu Member States ◽  
Energy Technologies ◽  
Price Signals ◽  
Regulatory Measures

The European Commission has developed a series of regulatory measures to introduce alternative energy technologies, including a binding target for a specified share of biofuel in petrol and diesel, in European Union (EU) member states. The instruments to achieve this goal include taxation, subsidies and legal restraints. Biofuel suffers from the problem of being uncompetitive, and the intervention addresses the price gap between conventional fuel and biofuel. The enthusiasm for biofuel is particularly high in peripheral regions such as the northern provinces of Sweden and Finland. Expectations include renewed economic growth and employment opportunities. However, when studying the economic impact of the biofuel regulatory framework with the help of the concept of property economics, it becomes clear that the framework generates investment in biofuel production due to distorted price signals and expected profits. From the perspective of property economics, the biofuel framework challenges property rights as it requires people’s appropriated means to be put into the effort of biofuel production. The artificial change of investment conditions may lead to the formation of an investment bubble. This distorts the interweaving structure of capital goods, which contributes to the manufacturing of biofuel, including machinery and wood products. As bubbles are bound to burst, people in the affected territories may be left with a lower living standard and greater exposure to the consequences. Therefore, the biofuel regulatory framework leads to unsustainable conditions. JEL Classification: O10, O20

Beauty in Efficiency

2016 ◽  
Vol 35 (1) ◽  
pp. 93-120 ◽  
Author(s):  
Odette da Silva ◽  
Nathan Crilly ◽  
Paul Hekkert
Keyword(s):  
Experimental Design ◽  
Experimental Evidence ◽  
Product Design ◽  
Consumer Products ◽  
Maximum Effect ◽  
Aesthetic Appreciation ◽  
Use Of Resources ◽  
Wide Range ◽  
The Aesthetic ◽  
Principle Of Maximum

Theory and discourse suggest that the aesthetic appreciation of a wide range of artifacts—including works of art and consumer products—is partially governed by the principle of maximum effect for minimum means. We conducted two studies to find experimental evidence of this principle in the context of product design. In Study 1, we tested the hypothesis that the aesthetic appreciation of a product would be positively affected by the perception of the product as the minimum means achieving the maximum effect. Encouraged by the results of this study, we conducted Study 2 to test again the principle of maximum effect for minimum means using a more controlled experimental design. Our findings provide support for our hypothesis, indicating that the aesthetic appreciation of a product depends, to some extent, on the perception that the product achieves more than other products from its category by making an efficient use of resources.

scholarly journals Institutions and Behavior: Experimental Evidence on the Effects of Democracy

2010 ◽  
Vol 100 (5) ◽  
pp. 2205-2229 ◽  
Author(s):  
Pedro Dal Bó ◽  
Andrew Foster ◽  
Louis Putterman
Keyword(s):  
Experimental Design ◽  
Experimental Evidence ◽  
Previous Literature ◽  
Selection Effects ◽  
Democratic Institutions ◽  
Policy Interventions ◽  
And Behavior

A novel experiment is used to show that the effect of a policy on the level of cooperation is greater when it is chosen democratically by the subjects than when it is exogenously imposed. In contrast to the previous literature, our experimental design allows us to control for selection effects (e.g., those who choose the policy may be affected differently by it). Our finding implies that democratic institutions may affect behavior directly in addition to having effects through the choice of policies. Our findings have implications for the generalizability of the results of randomized policy interventions. (JEL C91, D02, D12, D72)

The Identification and Decomposition of Hierarchical Tasks

1977 ◽  
Vol 14 (3) ◽  
pp. 189-212 ◽  
Author(s):  
John W. Cotton ◽  
John P. Gallagher ◽  
Sandra P. Marshall
Keyword(s):  
Mathematical Model ◽  
Experimental Design ◽  
Experimental Evidence ◽  
Hierarchical Structure ◽  
Alternate Route ◽  
Component Task ◽  
Two Component ◽  
Hierarchical Ordering ◽  
Definition Of

The definition of hierarchical structure is reviewed, together with psychometric and experimental evidence regarding the existence of specific structures. Exceptions to hierarchical ordering are frequent enough to merit consideration of an assumption that skill on an item may simply transfer to the next higher item rather than being fully prerequisite to it. In some cases an alternate route hierarchy may occur, with persons either learning an item and then the next item or learning both at the same time. A mathematical model including hierarchical and nonhierarchical options fir a two-component task is presented; an experimental design appropriate to testing the model and related transfer hypotheses is also presented.

A Light-Induced Annealing of Silicon Implanted Layers

2008 ◽  
Vol 573-574 ◽  
pp. 229-235
Author(s):  
Bo Lojek
Keyword(s):  
Experimental Data ◽  
Experimental Evidence ◽  
Band Gap ◽  
Thermal Annealing ◽  
Rapid Thermal Annealing ◽  
Semiconductor Material ◽  
Damaged Material ◽  
Optical Irradiation ◽  
Energy States ◽  
The Impact

Since introducing Rapid Thermal Annealing, there has been disagreement among experimental data of ion-implanted and annealed layers. One explanation of these differences is the impact of optical irradiation and its interaction with semiconductor material. Although no plausible explanation has been offered, experimental evidence of “photonic effects” was reported in many works. In this work we estimate energy per atom available during recombination of the excited carriers. It is argued that the localization of energy states inside the band gap in ion-implant damaged material is responsible for “photonic effects.”

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