Leisure Shopping Behavior and Recreational Retailing:A Symbiotic Analysis of Marketplace Strategy and Consumer Response

Consumers often benefit from increased competition in differentiated product settings during leisure shopping season. The wide choice, atmosphere, convenience, sales people, refreshments, location, promotional activities and merchandising policy are associated during the leisure shopping. The consumer shopping behavior during leisure is largely driven by the recreational infrastructure as a competitive strategy of retailers. This also helps developing store loyalty, innovative concern and the high perceived customer values whereby individuals experience enjoyment from shopping. This paper aims to analyze through an empirical investigation in Mexico, drivers which influence consumers’ leisure shopping behavior and measure customer value in terms of levels of satisfaction. The study also focuses on the role of in-store recreational infrastructure and retail selling strategies in swaying the leisure shopping and driving store loyalty.Recreational retailing, shopping behavior, store loyalty, customer value, production attractiveness, brand variability

Effects of innovation types on firm performance

Innovation is broadly seen as an essential component of competitiveness, embedded in the organizational structures, processes, products, and services within a firm. The objective of this paper is to explore the effects of the organizational, process, product, and marketing innovations on the different aspects of firm performance, including innovative, production, market, and financial performances, based on an empirical study covering 184 manufacturing firms in Turkey. A theoretical framework is empirically tested identifying the relationships amid innovations and firm performance through an integrated innovation-performance analysis. The results reveal the positive effects of innovations on firm performance in manufacturing industries

Effects of innovation types on firm performance

Innovation is broadly seen as an essential component of competitiveness, embedded in the organizational structures, processes, products, and services within a firm. The objective of this paper is to explore the effects of the organizational, process, product, and marketing innovations on the different aspects of firm performance, including innovative, production, market, and financial performances, based on an empirical study covering 184 manufacturing firms in Turkey. A theoretical framework is empirically tested identifying the relationships amid innovations and firm performance through an integrated innovation-performance analysis. The results reveal the positive effects of innovations on firm performance in manufacturing industries

Value perception and post-purchase behaviors of recurring customers: evidence in hedonic services with contractual and non-contractual linkage

[ES]Los modelos de formación de la utilidad tienen la capacidad de predecir el beneficio que los consumidores perciben en diferentes bienes y servicios. Sin embargo, existen evidencias en diferentes sectores de la necesidad de explorar estos modelos para la creación de una oferta de valor que sea atractiva para los consumidores a lo largo del tiempo, y, al mismo tiempo, rentable para la empresa. La percepción de valor por el consumidor en productos de compra repetitiva, además de por otros factores, cambia a lo largo de los sucesivos momentos de interacción con la categoría de producto. El efecto de estas interacciones se ha considerado en las teorías de formación de hábitos y saciedad, las cuales explican como el nivel habitual de consumo y la saciedad influyen en la formación de utilidad. Con el objetivo de explorar cómo mantener una oferta de valor atractiva a lo largo del tiempo para diferentes segmentos de consumidores, esta tesis examina empíricamente el efecto no lineal de la formación de hábitos y saciedad sobre el valor percibido y los comportamientos poscompra de los clientes recurrentes en un contexto de servicios hedónicos. Se analiza cómo cambia la disposición a pagar respecto a alojamientos turísticos en función del nivel habitual de consumo y la saciedad en un contexto con relación no contractual. Una vez comprobado este efecto, se estudia cómo influye la saciedad sobre el valor percibido y los comportamientos poscompra a lo largo del tiempo en un contexto con relación contractual (servicios por suscripción). Los resultados obtenidos en los diferentes estudios realizados concluyen que la disposición a pagar de un consumidor cambia en función de su nivel habitual de consumo, mostrando un incremento en su disposición a pagar respecto a la anterior visita si se encuentra en fases de sensibilización con el servicio y una disminución en caso de habituación. A su vez, el efecto de la saciedad juega también un papel determinante en la formación de utilidad. Se concluye que los consumidores que experimentan saciedad muestran una menor disposición a pagar y, por tanto, una mayor sensibilidad a los precios. Además, se demuestra que, en modelos de pago por suscripción, esta variable tiene la capacidad de anticipar la decisión de no continuar la suscripción del servicio contratado. Esta tesis contribuye a la literatura previa aportando evidencias empíricas sobre la formación de utilidad en diferentes servicios de uso hedónico, aclarando respecto a la literatura anterior que un precio de referencia no siempre influye de forma lineal y positiva sobre la disposición a pagar. Segundo, amplía el conocimiento sobre cómo la saciedad influencia el valor percibido en servicios con alto riesgo y muestra como esta variable es capaz de anticipar comportamientos desleales, ya que estudiamos tanto la intención de cancelar la suscripción en el corto como en el largo plazo. Finalmente, consideramos que los resultados obtenidos tienen importantes implicaciones, siendo clave incorporar en el análisis del comportamiento del consumidor en productos de compra repetitiva estas dos variables de segmentación de los clientes, el nivel habitual de consumo y la saciedad. [EN]Utility formation models have the ability to predict the benefit that consumers perceive in different goods and services. However, there is evidence in several sectors of the necessity to explore these models for the development of a value offer that is attractive to consumers over time, while also being profitable for the company. The perceived value of consumers in repetitive consumption, along with other factors, undergoes changes over the successive moments of interaction with the product category. The effect of these successive purchases has been considered in habit formation and satiation theories, which explain how the habitual level of consumption and satiation influence utility formation. With the aim of exploring how to maintain an attractive value offer over time for different consumer segments, this dissertation empirically examines the non-linear effect of the habitual level of consumption and satiation formation on perceived value and post-purchase behaviors of repeat customers in a hedonic services context. The study analyzes how willingness to pay for tourism accommodations changes based on habitual level of consumption and satiation in a non-contractual relationship setting. Upon confirming this effect, the study further explores the influence of satiation on perceived value and post-purchase behaviors over time in a contractual relationship setting (subscription retailing sector). The results obtained from the various studies lead to the conclusion that a consumer's willingness to pay is subject to change based on their habitual level of consumption. Specifically, there is an increase in willingness to pay compared to the previous stay if they are in a sensitization phase with the service, and a decrease in the case of habituation. Additionally, the effect of satiation plays a determining role in utility formation. It is concluded that consumers who experience satiation exhibit a lower willingness to pay and, therefore, greater price sensitivity. In turn, it is demonstrated that in subscription retailing, this variable has the ability to anticipate the decision to cancel the contracted subscription. This thesis contributes to previous literature by providing empirical evidence on utility formation in different hedonic services, clarifying that the influence of a reference price on willingness to pay is not always linear and positive, unlike previous literature. Second, it broadens the understanding of how satiation influences perceived value in high-risk services. Furthermore, it demonstrates the capability of this variable to predict unloyalty behaviors, as we examine both short and long-term subscription cancellation. Finally, we consider that the results obtained have important managerial implications being of utmost importance to incorporate these two customer segmentation variables, habitual level of consumption and satiation, into the analysis of consumer behavior in repetitive purchase products

Electricity Sector Reform in Developing Countries: A Survey of Empirical Evidence on Determinants and Performance

This paper reviews the empirical evidence on electricity reform in developing countries. We find that country institutions and sector governance play an important role in success and failure of reform; reforms appear to have increased operating efficiency and expanded access to urban customers; they have to a lesser degree passed on efficiency gains to customers, tackled distributional effects, or improved rural access. Moreover, some of the literature is not methodologically robust or on a par with general development economics literature and findings on some issues are limited and inconclusive while some important areas are yet to be addressed. Until we know more, implementation of reforms will be more based on ideology and economic theory rather than solid economic evidence.The World Bank Electricity Research Programme and the CMI Electricity Project (IR-45

Road Pricing: Old Beliefs, Present Awareness and Future Research Patterns

The theoretical evolution of academic beliefs and practical policymakers' perceptions of road pricing (from now on rp) as an instrument of efficient and equitable allocation of resources are described and analysed. The aim of the paper is to reconstruct the logical evolution of the theory behind rp in order to understand why there has been scarce policy impact in spite of a long theoretical tradition. In so doing I try to bring to the fore the fundamental issues that will have to be tackled by future research in order to generate consensus around this policy instrument. The paper is structured in four parts. In the first part the fundamental issues of a typical rp model are considered. Among the most important aspects one recalls: first-best/second-best environment, short/long term analysis, homogeneous/heterogeneous time evaluation, perfect/imperfect information, efficiency/equity analysis, use/non-use of resources generated, private/public transportation provision. In the second part the characterising parameters have been interpreted in the light of the Smeed Report of 1964 that can be considered representative of the "old belief". In the third part the "present awareness" is expressed by an analysis of the main contents of the book Internalising the Social Costs of Transport of 1993. In the fourth part some reflections on the most promising research areas for rp implementation and acceptance are put forward. Specific research will have to be conducted concerning social acceptability and feasibility, simultaneous cost internalisation, behavioural assumptions, information and pricing interconnections.Road pricing, Social Acceptability, Congestion, Congestion charging

Lessons Learned and Next Steps in Energy Efficiency Measurement and Attribution: Energy Savings, Net to Gross, Non-Energy Benefits, and Persistence of Energy Efficiency Behavior

This white paper examines four topics addressing evaluation, measurement, and attribution of direct and indirect effects to energy efficiency and behavioral programs: Estimates of program savings (gross); Net savings derivation through free ridership / net to gross analyses; Indirect non-energy benefits / impacts (e.g., comfort, convenience, emissions, jobs); and, Persistence of savings

EPA Guidelines for Regulatory Impact Analysis

On February 17, 1981, the President issued Executive Order 12291 mandating that regulatory agencies must prepare regulatory impact analyses (RIAs) on all major regulations. Before taking action, the agencies must send all RIAs and proposed regulations to the Office of Management and Budget (OMB) for review. These guidelines discuss the analytical techniques that may be used and the information to be developed by the U.S. Environmental Protection Agency when (l) stating the need for the proposed regulatory action; (2) examining alternative approaches to the problem; (3) quantifying benefits and costs and valuing them in dollar terms (where feasible); and (4) evaluating the findings on benefits, costs, and distributional effects. This document provides guidance for preparing Regulatory Impact Analyses. It includes four appendices and one supplement in addition to the main document.

Incentive Compatible Pricing and Quality Adoption: The Case of the Polish Dairy Sector

We construct a model to identify determinants of the diffusion rate of standards in a food chain. We argue that adoption decisions in the food chain are determined by farmers and processors economic considerations. Factors such as pricing behavior, compliance costs and market structure, all of which influence the adoption of standards, are identified and discussed in the paper. The findings are used to test an econometric model utilizing data on Polish milk processing firms in the period between 2000 and 2002. The results indicate that input and output prices have a significant influence on the diffusion rate of standards. The dominance of large-scale holdings in the relevant procurement market significantly increases, whereas high compliance costs decrease the diffusion. Small cooperatives were found to face significant problems in procuring high quality raw materials compared to their competitors.product quality, standards, EU enlargement, industrial organization., Industrial Organization, Livestock Production/Industries,

Essays on Decisions Involving Recurring Financial Events

This dissertation explores what influences consumer financial decisions with consequences that recur over time, such as mortgages and recurring payment plans in contracts. This dissertation investigates two questions: (1) How do individual differences in intertemporal preferences influence how consumers think about recurring financial events? (2) How does the aggregation level used to describe the recurring financial consequences impact how consumers mentally represent the purchase? Taken together, this dissertation explores how consumers mentally represent recurring outcomes and express these preferences through choice. The first essay explores the relationship between individual differences in time preferences and decisions involving recurring payments in the domain of mortgage choices. It relates two components of an individual's time preference, a present bias (overvaluing immediate outcomes), and a personal discount rate (the exponential component of time preferences), to mortgage selection and the decision to strategically abandon a home worth less than its mortgage. Combining insights from an analytic model and a survey of 244 mortgaged households augmented by zip-code market house price data, this essay proposes that consumers with greater present bias and exponential discounting are more likely to choose mortgages that minimize up-front costs and be underwater. This model also suggests that present bias decreases the likelihood of walking away, but that higher discounting increases that likelihood, a result consistent with the data. Time preferences remain robust predictors with individual and market-level controls, and alternate model specifications. The second essay explores how the aggregation level of a recurring price (e.g. on a daily vs. a yearly basis) impacts how consumers mentally account for a contract's benefits. For example, if consumers are told the daily price of a car lease, they imagine the daily benefits of the car, and when they are told a monthly price they imagine their broader use of the car. This essay builds on the "pennies-a-day" model (Gourville 1998), which posits that narrowly framed recurring costs can increase a consumer's willingness to purchase by making the cost of a purchase seem trivial. The essay will present evidence that triviality is neither a necessary nor sufficient condition for narrow framing to increase willingness to purchase and expand the domain of situations where such narrow framing increases purchase. Five web-based experiments suggest that scope insensitivity plays an important role in this effect since under recurring costs, consumers repeatedly "book" the most valued units, while under one-time costs consumers tend to experience less return to scale. Together, the two essays suggest that contracts involving recurring financial events are mentally represented differently from those with one-time financial events, and that content is then discounted based on intertemporal preferences