A Laboratory Study of Customer Markets

2002 ◽  
Vol 2 (1) ◽  
Author(s):  
Timothy N. Cason ◽  
Daniel Friedman
Keyword(s):  
Random Walks ◽  
Laboratory Study ◽  
Production Costs ◽  
Transaction Prices ◽  
Switch Costs ◽  
Trading Efficiency ◽  
Posted Price ◽  
Lower Valuation

Abstract In our laboratory customer markets, sellers post price and buyers incur cost (controlled at zero, low and high values) when they switch to a new seller. Sellers’ production costs follow various random walks in 28 sessions, each with 50-100 trading periods. We find that prices are sticky, and sellers absorb almost half of their cost shocks. Transaction prices are about 10 percent higher when buyers face positive switch costs, and trading efficiency is slightly impaired. Experienced buyers switch about 10 percent of the time with either high or low switch costs. Buyers switch more often when they face a higher posted price, have a lower valuation for the good, face lower switch costs, have more time remaining, and have more favorable information on alternative prices. Sellers price higher when they have more attached buyers, when buyers have less information on rivals’ prices, when rivals post higher prices, and when less time remains.

Laboratory and in-situ analysis of comet dust

1988 ◽  
Vol 46 ◽  
pp. 8-9
Author(s):  
D.E. Brownlee ◽  
A.L. Albee
Keyword(s):  
Electron Microscopy ◽  
Solar System ◽  
Laboratory Study ◽  
Isotopic Analysis ◽  
Building Blocks ◽  
Sem Analysis ◽  
Early Solar System ◽  
Cometary Material ◽  
Comet Dust

Comets are primitive, kilometer-sized bodies that formed in the outer regions of the solar system. Composed of ice and dust, comets are generally believed to be relic building blocks of the outer solar system that have been preserved at cryogenic temperatures since the formation of the Sun and planets. The analysis of cometary material is particularly important because the properties of cometary material provide direct information on the processes and environments that formed and influenced solid matter both in the early solar system and in the interstellar environments that preceded it.The first direct analyses of proven comet dust were made during the Soviet and European spacecraft encounters with Comet Halley in 1986. These missions carried time-of-flight mass spectrometers that measured mass spectra of individual micron and smaller particles. The Halley measurements were semi-quantitative but they showed that comet dust is a complex fine-grained mixture of silicates and organic material. A full understanding of comet dust will require detailed morphological, mineralogical, elemental and isotopic analysis at the finest possible scale. Electron microscopy and related microbeam techniques will play key roles in the analysis. The present and future of electron microscopy of comet samples involves laboratory study of micrometeorites collected in the stratosphere, in-situ SEM analysis of particles collected at a comet and laboratory study of samples collected from a comet and returned to the Earth for detailed study.

Non-homogeneous Random Walks

2016 ◽  
Author(s):  
Mikhail Menshikov ◽  
Serguei Popov ◽  
Andrew Wade
Keyword(s):  
Random Walks

When Apologies for Injustice Matter

2008 ◽  
Vol 13 (4) ◽  
pp. 239-247 ◽  
Author(s):  
David De Cremer ◽  
Barbara C. Schouten
Keyword(s):  
Laboratory Study ◽  
Interaction Effect ◽  
Interactive Effect ◽  
Cross Sectional ◽  
Fairness Perceptions ◽  
Organizational Survey ◽  
Experimental Laboratory

The present research examined the idea that the effectiveness of apologies on promoting fairness perceptions depends on how meaningful and sincere the apology is experienced. More precisely, it was predicted that apologies are more effective when they are communicated by an authority being respectful to others. A study using a cross-sectional organizational survey showed that an apology (relative to giving no apology) revealed higher fairness perceptions, but only so when the authority was respectful rather than disrespectful. In a subsequent experimental laboratory study the same interaction effect (as in Study 1) on fairness perceptions was found. In addition, a similar interaction effect also emerged on participants’ self-evaluations in terms of relational appreciation (i.e., feeling valued and likeable). Finally, these self-evaluations accounted (at least partly) for the interactive effect on fairness perceptions.

A Review of the Role of Cue Processing in Task Switching

2013 ◽  
Vol 221 (1) ◽  
pp. 5-14 ◽  
Author(s):  
Kerstin Jost ◽  
Wouter De Baene ◽  
Iring Koch ◽  
Marcel Brass
Keyword(s):  
Cognitive Control ◽  
Task Switching ◽  
Task Switch ◽  
Task Set ◽  
Switch Costs ◽  
Set Switching ◽  
Controversial Topic ◽  
Cue Encoding ◽  
Cue Processing

The role of cue processing has become a controversial topic in research on cognitive control using task-switching procedures. Some authors suggested a priming account to explain switch costs as a form of encoding benefit when the cue from the previous trial is repeated and hence challenged theories that attribute task-switch costs to task-set (re)configuration. A rich body of empirical evidence has evolved that indeed shows that cue-encoding repetition priming is an important component in task switching. However, these studies also demonstrate that there are usually substantial “true” task-switch costs. Here, we review this behavioral, electrophysiological, and brain imaging evidence. Moreover, we describe alternative approaches to the explicit task-cuing procedure, such as the usage of transition cues or the task-span procedure. In addition, we address issues related to the type of cue, such as cue transparency. We also discuss methodological and theoretical implications and argue that the explicit task-cuing procedure is suitable to address issues of cognitive control and task-set switching.

Effects of Monetary Incentives on Task Switching

2012 ◽  
Vol 59 (4) ◽  
pp. 216-226 ◽  
Author(s):  
Thomas Kleinsorge ◽  
Gerhard Rinkenauer
Keyword(s):  
Task Switching ◽  
Temporal Dynamics ◽  
Reward Processing ◽  
General Level ◽  
Monetary Incentives ◽  
Switch Costs ◽  
Expectancy Effect ◽  
Reward Expectancy ◽  
Trial Basis

In two experiments, effects of incentives on task switching were investigated. Incentives were provided as a monetary bonus. In both experiments, the availability of a bonus varied on a trial-to-trial basis. The main difference between the experiments relates to the association of incentives to individual tasks. In Experiment 1, the association of incentives to individual tasks was fixed. Under these conditions, the effect of incentives was largely due to reward expectancy. Switch costs were reduced to statistical insignificance. This was true even with the task that was not associated with a bonus. In Experiment 2, there was a variable association of incentives to individual tasks. Under these conditions, the reward expectancy effect was bound to conditions with a well-established bonus-task association. In conditions in which the bonus-task association was not established in advance, enhanced performance of the bonus task was accompanied by performance decrements with the task that was not associated with a bonus. Reward expectancy affected mainly the general level of performance. The outcome of this study may also inform recently suggested neurobiological accounts about the temporal dynamics of reward processing.

The Flip Side of the Auditory Spatial Selection Benefit

2015 ◽  
Vol 62 (1) ◽  
pp. 66-74 ◽  
Author(s):  
Iring Koch ◽  
Vera Lawo
Keyword(s):  
Task Switching ◽  
Auditory Task ◽  
Numerical Magnitude ◽  
Attention Shifting ◽  
Gender Selection ◽  
Spatial Selection ◽  
Number Words ◽  
Switch Costs ◽  
Mixing Costs ◽  
Experimental Group

In cued auditory task switching, one of two dichotically presented number words, spoken by a female and a male, had to be judged according to its numerical magnitude. One experimental group selected targets by speaker gender and another group by ear of presentation. In mixed-task blocks, the target-defining feature (male/female vs. left/right) was cued prior to each trial, but in pure blocks it remained constant. Compared to selection by gender, selection by ear led to better performance in pure blocks than in mixed blocks, resulting in larger “global” mixing costs for ear-based selection. Selection by ear also led to larger “local” switch costs in mixed blocks, but this finding was partially mediated by differential cue-repetition benefits. Together, the data suggest that requirements of attention shifting diminish the auditory spatial selection benefit.

What Makes Serial Recall Insensitive to Switch Costs?

2012 ◽  
Author(s):  
Cindy Chamberland ◽  
Sebastien Tremblay
Keyword(s):  
Serial Recall ◽  
Switch Costs
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