scholarly journals Beliefs and Consumer Search in a Vertical Industry

2019 ◽  
Vol 18 (5) ◽  
pp. 2359-2393 ◽  
Author(s):  
Maarten Janssen ◽  
Sandro Shelegia
Keyword(s):  
Low Cost ◽  
Search Costs ◽  
Retail Price ◽  
Consumer Search ◽  
Common Assumption ◽  
Vertical Relations ◽  
Retail Prices ◽  
The Common ◽  
Search Market ◽  
Pass Through

Abstract This paper studies vertical relations in a search market. As the wholesale arrangement between a manufacturer and its retailers is typically unobserved by consumers, their beliefs about who is to be blamed for a price deviation play a crucial role in determining wholesale and retail prices. The common assumption in the consumer search literature is that consumers exclusively blame an individual retailer for a price deviation. We show that in the vertical relations context, predictions based on this assumption are not robust in the sense that if consumers hold the upstream manufacturer at least partially responsible for the deviation, equilibrium predictions are qualitatively different. For robust beliefs, the vertical model can explain a variety of observations, such as retail price rigidity (or, alternatively, low cost pass-through), nonmonotonicity of retail prices in search costs, and (seemingly) collusive retail behavior. The model can be used to study a monopoly online platform that sells access to final consumers.

Life Satisfaction of Elderly Individuals in Regular Community Housing, in Low-Cost Community Housing, and High and Low Self-Determination Nursing Homes

1989 ◽  
Vol 28 (4) ◽  
pp. 277-283 ◽  
Author(s):  
Robert J. Vallerand ◽  
Brian P. O'Connor ◽  
Marc R. Blais
Keyword(s):  
Life Satisfaction ◽  
Nursing Homes ◽  
Elderly People ◽  
Low Cost ◽  
Nursing Home Residents ◽  
Self Determination ◽  
Elderly Persons ◽  
Daily Lives ◽  
Common Assumption ◽  
The Common

Numerous studies have found that giving nursing home residents more control or self-determination in their daily lives increases their life satisfaction. However, it is not known if elderly people living in high self-determination nursing homes are as satisfied with life as elderly people living in the community. In this study, it was found that elderly persons living in regular community housing, in low-cost community housing, and in high self-determination nursing homes reported similar levels of life satisfaction, and more life satisfaction than elderly people living in low self-determination nursing homes. Health and sociodemographic variables could not account for these findings. The common assumption that nursing homes have detrimental effects on life satisfaction appears unwarranted in the case of those that provide opportunities for self-determination.

scholarly journals Consumer Search and Double Marginalization

2015 ◽  
Vol 105 (6) ◽  
pp. 1683-1710 ◽  
Author(s):  
Maarten Janssen ◽  
Sandro Shelegia
Keyword(s):  
Consumer Surplus ◽  
Consumer Search ◽  
Search Cost ◽  
Double Marginalization ◽  
Vertical Relations ◽  
Retail Prices

The well-known double marginalization problem understates the inefficiencies arising from vertical relations in consumer search markets where consumers are uninformed about the wholesale prices charged by manufacturers to retailers. Consumer search provides a monopoly manufacturer with an additional incentive to increase its price, worsening the double marginalization problem and lowering the manufacturer's profits. Nevertheless, manufacturers in more competitive wholesale markets may not have an incentive to reveal their prices to consumers. We show that retail prices decrease in search cost, and so both industry profits and consumer surplus increase in search cost. (JEL D11, D42, D83, L12, L25, L60, L81)

Student Perceptions of Community: A Different Perspective

NASPA Journal ◽  
1998 ◽  
Vol 35 (4) ◽  
Author(s):  
Jackie Clark ◽  
Joan Hirt
Keyword(s):  
Student Perceptions ◽  
Large Scale ◽  
Research University ◽  
Small Scale ◽  
Social Environments ◽  
Common Assumption ◽  
Small Communities ◽  
Public Research University ◽  
The Common ◽  
Using Data

The creation of small communities has been proposed as a way of enhancing the educational experience of students at large institutions. Using data from a survey of students living in large and small residences at a public research university, this study does not support the common assumption that small-scale social environments are more conducive to positive community life than large-scale social environments.

scholarly journals Farm Product Prices, Redistribution, and the Early U.S. Great Depression

2021 ◽  
pp. 1-39
Author(s):  
Joshua K. Hausman ◽  
Paul W. Rhode ◽  
Johannes F. Wieland
Keyword(s):  
Great Depression ◽  
Propagation Mechanism ◽  
Farm Product ◽  
Retail Prices ◽  
Marginal Propensity ◽  
Pass Through

We argue that falling farm product prices, incomes, and spending may explain 10–30 percent of the 1930 U.S. output decline. Crop prices collapsed, reducing farmers’ incomes. And across U.S. states and Ohio counties, auto sales fell most in crop-growing areas. The large spending response may be explained by farmers’ indebtedness. Reasonable assumptions about the marginal propensity to spend of farmers relative to nonfarmers and the pass-through of farm prices to retail prices imply that the collapse of farm product prices in 1930 was a powerful propagation mechanism worsening the Depression.

scholarly journals Śaivism after the Śaiva Age: Continuities in the Scriptural Corpus of the Vīramāheśvaras

Religions ◽  
2021 ◽  
Vol 12 (3) ◽  
pp. 222
Author(s):  
Elaine M. Fisher
Keyword(s):  
Thirteenth Century ◽  
Common Assumption ◽  
Academic Practice ◽  
The Common ◽  
Popular Work ◽  
First Time

This article makes the case that Vīraśaivism emerged in direct textual continuity with the tantric traditions of the Śaiva Age. In academic practice up through the present day, the study of Śaivism, through Sanskrit sources, and bhakti Hinduism, through the vernacular, are generally treated as distinct disciplines and objects of study. As a result, Vīraśaivism has yet to be systematically approached through a philological analysis of its precursors from earlier Śaiva traditions. With this aim in mind, I begin by documenting for the first time that a thirteenth-century Sanskrit work of what I have called the Vīramāheśvara textual corpus, the Somanāthabhāṣya or Vīramāheśvarācārasāroddhārabhāṣya, was most likely authored by Pālkurikĕ Somanātha, best known for his vernacular Telugu Vīraśaiva literature. Second, I outline the indebtedness of the early Sanskrit and Telugu Vīramāheśvara corpus to a popular work of early lay Śaivism, the Śivadharmaśāstra, with particular attention to the concepts of the jaṅgama and the iṣṭaliṅga. That the Vīramāheśvaras borrowed many of their formative concepts and practices directly from the Śivadharmaśāstra and other works of the Śaiva Age, I argue, belies the common assumption that Vīraśaivism originated as a social and religious revolution.

scholarly journals An Overview of Biodiesel Production via Calcium Oxide Based Catalysts: Current State and Perspective

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3950
Author(s):  
Hoora Mazaheri ◽  
Hwai Chyuan Ong ◽  
Zeynab Amini ◽  
Haji Hassan Masjuki ◽  
M. Mofijur ◽  
...  
Keyword(s):  
Heterogeneous Catalysis ◽  
Calcium Oxide ◽  
Heterogeneous Catalysts ◽  
Low Cost ◽  
Biodiesel Production ◽  
Catalyst Synthesis ◽  
Process Improvements ◽  
Current State ◽  
The Common ◽  
Activity Mechanism

Biodiesel is a clean, renewable, liquid fuel that can be used in existing diesel engines without modification as pure or blend. Transesterification (the primary process for biodiesel generation) via heterogeneous catalysis using low-cost waste feedstocks for catalyst synthesis improves the economics of biodiesel production. Heterogeneous catalysts are preferred for the industrial generation of biodiesel due to their robustness and low costs due to the easy separation and relatively higher reusability. Calcium oxides found in abundance in nature, e.g., in seashells and eggshells, are promising candidates for the synthesis of heterogeneous catalysts. However, process improvements are required to design productive calcium oxide-based catalysts at an industrial scale. The current work presents an overview of the biodiesel production advancements using calcium oxide-based catalysts (e.g., pure, supported, and mixed with metal oxides). The review discusses different factors involved in the synthesis of calcium oxide-based catalysts, and the effect of reaction parameters on the biodiesel yield of calcium oxide-based catalysis are studied. Further, the common reactor designs used for the heterogeneous catalysis using calcium oxide-based catalysts are explained. Moreover, the catalytic activity mechanism, challenges and prospects of the application of calcium oxide-based catalysts in biodiesel generation are discussed. The study of calcium oxide-based catalyst should continue to be evaluated for the potential of their application in the commercial sector as they remain the pivotal goal of these studies.

scholarly journals Strategic Analysis of the Pricing Mechanisms in an Online Book Supply Chain in the Presence of Reference Price Effects

2021 ◽  
Vol 16 (5) ◽  
pp. 1492-1516
Author(s):  
Wenhua Hou ◽  
Yuwen Zeng
Keyword(s):  
Supply Chain ◽  
Discount Rate ◽  
Reference Price ◽  
Stackelberg Game ◽  
Lower Boundary ◽  
Retail Price ◽  
Reference Points ◽  
Price Effects ◽  
Retail Prices ◽  
Online Book

(1) Background: A binding recommended retail price has been used in several markets in a variety of forms, and the book market is a typical example. Publishers sell books to online retailers at a unit wholesale discount computed on the cover price. Retailers are then allowed to set the retail price. Therefore, if consumers regard the cover prices as reference points, then they may be more likely to purchase books if retail prices are lower than the cover prices. (2) Methods: We develop a Stackelberg game model for a book supply chain to investigates how reference price effects affect retailers and publisher’s pricing strategies. (3) Results: The results show that retailers will sell printed books at a discount only when the publisher’s wholesale discount rate is not high. Further, as the intensity of the reference price effects increases, (a) the lower boundary of the wholesale discount rate rises, (b) publishers’ profits increase and (c) retailers’ profits increase relative to the level of consumers’ e-books acceptance. (4) Conclusions: This result is related to the fact that the online retailer, such as Amazon and JD.com, like to invoke reference price effects in consumers’ minds by highlighting the printed book’s discount rate.

scholarly journals Adverse Selection, Heterogeneous Beliefs, and Evolutionary Learning

2021 ◽  
Author(s):  
Clemens Buchen ◽  
Alberto Palermo
Keyword(s):  
Adverse Selection ◽  
Relative Size ◽  
Nonlinear Dynamic System ◽  
Heterogeneous Beliefs ◽  
Evolutionary Learning ◽  
Common Assumption ◽  
Cobweb Model ◽  
The Common ◽  
Learning Set ◽  
Set Up

AbstractWe relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning set-up, which is imitative, principals can have different beliefs about the distribution of agents’ types in the population. The resulting nonlinear dynamic system is studied. Convergence to a uniform belief depends on the relative size of the bias in beliefs.

Reform, corruption, and growth: Why corruption is more devastating in Russia than in China

2006 ◽  
Vol 39 (2) ◽  
pp. 265-281 ◽  
Author(s):  
Tomas Larsson
Keyword(s):  
Economic Growth ◽  
Comparative Advantage ◽  
Economic Performance ◽  
Political Corruption ◽  
Common Assumption ◽  
Rapid Economic Growth ◽  
The Common ◽  
The Impact ◽  
Intervening Factors

This article explains why massive political corruption appears to be incompatible with economic growth in Russia but compatible with very rapid economic growth in China. The common assumption is that corruption is bad for economic performance. So how can we explain the puzzling contrast between Russia and China? Is Russia being more severely “punished” for its corruption than China? If so, why? This article demonstrates that three intervening factors—comparative advantage, the organization of corruption, and the nature of rents—determines the impact of corruption on economic performance, and that these factors can explain the divergent outcomes. The article thereby offers an alternative to statist explanations of the Russia-China paradox.

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