A comparison between VAR processes jointly modeling GDP and Unemployment rate in France and Germany

Investigating the relationship between Gross Domestic Product and unemployment is one of the most important challenges in macroeconomics. In this paper, we compare French and German economies in terms of the dynamic linkage between these variables. In particular, we use an empirical methodology to investigate how much the relationship between Gross Domestic Product and unemployment growth rates are dynamically different in the two major European economies over the period 2003–2019. To this aim, a Vector Autoregressive model is specified for each country to jointly model the growth rate of the two variables. Then a new statistical test is proposed to assess the distance between the two estimated models. Results indicate that the dynamic linkage between Gross Domestic Product and unemployment is very similar in the two countries. This empirical evidence does not imply identical product and labor markets in France and Germany, but it ensures that in these markets there are common dynamics. This could favor the process of economic convergence between the two countries.

Product Entitativity: How the Presence of Product Replicates Increases Perceived and Actual Product Efficacy

Many studies document the benefits of presenting smaller quantities of products, particularly when differences in quantity relate to availability or popularity. However, we know less about the effects of quantity differences in contexts unrelated to scarcity, such as when products are depicted in ads, special displays, or online retailing settings. The present research builds on extant literature by investigating a previously unexplored question: How do product perceptions differ depending on whether consumers view a single unit in isolation, versus as one unit among identical product replicates? Five experiments demonstrate that presenting multiple product replicates as a group (vs. presenting a single item) increases product efficacy perceptions because it leads consumers to perceive products as more homogeneous and unified around a shared goal. That is, consumers perceive greater product entitativity when viewing a group of product replicates. As a result, the perceived and actual ability of products to deliver that function (i.e., product efficacy) increases.

Two-Period Dynamic versus Fixed-Ratio Pricing Policies under Duopoly Competition

This paper introduces a two-period, pricing policy under duopoly competition between two firms offering an identical product to consumers who are intertemporal utility maximization. Firms have equal inventories of faultlessly replaceable and perishable products. The firms adjust prices to maximize profits and determine optimal pricing policies, choosing from dynamic pricing, fixed-ratio pricing, and elastic pricing policies. According to a duopoly competition model, the consumer is limited to a single firm visit per period. The consumer decides to purchase the product at current price from a firm and remain in the market to purchase product from the other firm in the next period or exit the market. The results offer three main conclusions. First, elastic pricing is consistent with dynamic pricing. Second, the more consumers visit the firm in the first period, the more profits the firm will make. Third, we explore the effectiveness of different pricing policies. The results show that although dynamic pricing is a more complex policy than fixed-ratio pricing, it may lead to decreased equilibrium profits when the firms sharply discounts prices and consumer rationality is unlimited.

Effect of extrinsic cues on willingness to pay of wine

Purpose The purpose of this paper is to examine the effect of extrinsic cues on wine consumer’s willingness to pay (WTP) based on a blind tasting experiment conducted in Hong Kong. Design/methodology/approach Using data from a three-stage blind wine tasting experiment, the authors examine how an average consumer’s WTP for a bottle of wine changes as a result of knowing prior to tasting extrinsic information such as the country of origin or grape variety of an otherwise identical product. Findings The findings of this study align with previous research that finds subjective utility experienced by tasters can be significantly influenced by the belief or information given prior to the tasting. Sub-group analysis using a stratified sample based on the frequency of wine consumption and the wine taster’s prior experience with wine (grouped into expert and novice categories) suggests that it is the novice consumers that have a stronger response to the pre-tasting knowledge when evaluating wine. Experienced wine consumers, on the other hand, do not seem to respond strongly to the pre-tasting knowledge of the extrinsic attributes in their evaluation of wine. Originality/value The studies of taste preference and role of extrinsic characteristics in wine evaluation and consumption in the rapidly growing Asian market is increasingly important for the wine industry. The evidence from this study suggests the importance for producers and marketers to consider consumer heterogeneity and product differentiation when pricing and distributing their wine.

Article 55 Reversal of burden of proof

Art 55 UPCA implements Art 34 TRIPs. The rule on the burden of proof contained in Art 54 UPCA would have the effect that the owner of a patent for a procedure (procedural patent) must assert and prove the use of the procedure carried out by the alleged infringer. This would, in many cases, cause great difficulty for the patentee since he may not be able at all or only with a tremendous amount of effort to validly draw a conclusion of the procedure used in production. This applies especially to chemical and pharmaceutical production processes protected by a patent. For those cases, Art 55(1) UPCA provides for a reversal of proof. Each identical product, in the absence of proof to the contrary, will be deemed to have been obtained by the patented process. The reversal of proof exclusively relates to the procedure which was used in the production of the product. In other respects, the burden of proof, according to Art 54 UPCA, remains unchanged. Therefore, also under Art 55(1) UPCA, the patent owner must prove that his product is new and that the accused product is identical to that new product.

The Effect of the Country of Origin on the Consumer, from the Placebo Effect Perspective

Although it is mostly used in Medicine, the placebo effect has been exploited in Marketing as well, in recent years. In Medicine, the placebo effect is defined as the improving state of a patient as a result of administering a simulated treatment, without any therapeutic healing effect. The current paper presents the results obtained in the studies that tested the placebo effect in marketing, and the conclusions of an experiment in which the possibility of producing the placebo effect on the consumer when the country of origin of an identical product differs was tested

Assessing Sale Strategies in Online Markets Using Matched Listings

We use data from eBay to identify hundreds of thousands of instances in which retailers posted otherwise identical product listings with targeted variation in pricing and auction design. We use these matched listings to measure the dispersion in auction prices for identical goods sold by the same seller, to estimate nonparametric auction demand curves, to analyze the effect of buy it now options, and to assess consumer sensitivity to shipping fees. The scale of the data allows us to show that the estimates are robust to narrower criteria for matching listings, thereby addressing plausible concerns about endogeneity and selection biases. (JEL D44, L11, L81)

From atoms to electrodes: Mesoscale effects in electrochemical conversion

Batteries are complex multicomponent devices wherein mesoscale phenomena–the nanoscale structure and chemistry of different components, and interactions thereof–drive functionality and performance. For example, electron/ion transport within the composite electrodes relies on bi-continuous nanostructuring to form electrically and ionicly conductive paths. Electrochemical conversion of different salts of a given metal yields a common and ostensibly identical product: the zero valent metal. For example, maximal lithiation of iron-based electrodes produces metallic iron nanoparticles for oxide, fluoride, and oxyfluoride electrodes alike. Accordingly, these provide an opportunity to explore the coupling of nanostructure development and anion chemistry, and correlate these with electrochemical performance. We combine synchrotron-based small angle X-ray scattering (SAXS) and pair distribution function (PDF) measurements to probe metallic iron formed by electrochemical conversion of different iron compounds across multiple length-scales and decouple the influence of anion chemistry and reaction temperature on the atomic structure and nanoscale morphology.