The effects of loyalty programs on customer satisfaction, trust, and loyalty toward high- and low-end fashion retailers

This study examines the differential effects of the benefits customers receive from a loyalty program (LP) on satisfaction with the LP, trust in the LP, and store loyalty for high- and low-end fashion retailers. With survey data from U.S. LP subscribers, the study tests the relationships using multiple regressions and analysis of covariance. The results show that symbolic benefits are more important for high-end fashion store consumers' satisfaction with the LP; conversely, utilitarian benefits increase consumers' satisfaction with the LP more in low-end fashion retailing, whereas hedonic benefits increase consumers' satisfaction with the LP in both types of retailers. All benefits in both types of retailers affect trust in the LP. Finally, satisfaction with and trust in the LP are important drivers of loyalty to the retailer. The findings have important implications on how managers of high- and low-end fashion retailing can effectively design their LP rewards to maximize loyalty

The Economics of Privacy

This chapter reviews economic analyses of privacy. We begin by scrutinizing the “free market” critique of privacy regulation. Welfare may be non-monotone in the quantity of information, hence there may be excessive incentive to collect information. This result applies to both non-productive and productive information. Over-investment is exacerbated to the extent that personal information is exploited across markets. Further, the “free market” critique does not apply to overt and covert collection of information that directly causes harm. We then review research on property rights and challenges in determining their optimal allocation. We conclude with insights from recent empirical research and directions for future research.

Factors Influencing Lease Revenue and Non-industrial Landowners' Willingness to allow Hunting Access

Despite the fact that earnings associated with selling hunting leases could significantly contribute to landowners' incomes, only a small minority of them allow access on their lands for a fee. Based on a sample survey of Mississippi state landowners, we analyzed landowners' willingness to participate in supplying leases as well as factors influencing lease revenue per fee acre. While landowners' decision to allow hunting access and factors influencing lease revenue per acre were jointly modeled consistent with Heckman's analysis of sample selectivity bias, the hunting lease revenue function was specified in accordance with Rosen's hedonic pricing theory. Empirical results showed landowners' concerns about control over their land, loss of privacy and damage to property, and accident liability insurance reduced their willingness to allow hunting access; and, in contrast, increase in total land holding, race and residential location increased the probability of participation. With regards to factors explaining differences in lease revenue per fee acre, analysis showed that location, expertise in managing fee hunting enterprise, provision of services, and certain wildlife habitats account for systematic variations in lease revenues. These findings have implications for landowners' management of their lands, the design of extension programs, and public agencies engaged in the provision of natural resource based recreation.Marginal lands, Mississippi, Incentive programs, Recreation, Wildlife enterprises, Farm Management, Q510, Q260,