Journal articles on the topic 'Durable goods, Consumer Econometric models'
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1
Somwaru, Agapi, Francis Tuan, and Sun Ling Wang. "Assessing China’s Long Term Export and Income Growth in the Global Markets." International Journal of Economics and Finance 10, no. 9 (August 25, 2018): 98. http://dx.doi.org/10.5539/ijef.v10n9p98.
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This paper delves into China’s differential growth in exports with high income and developing countries by focusing on bilateral content of China’s trade and particular exports over the time period 1979-2015. In the last 30 plus years, China has specialized in upstream capital goods and exhibited rapid diversification in consumer goods. Performing causality tests reveals a strong evidence of causality from the export growth of capital goods and consumer non-durable goods to gross domestic product (GDP) per capita. There is also evidence that the causality is bi-directional for consumer durable goods, intermediate goods, and primary non-energy goods with income. Econometric analysis shows a positive and statistical significant relationship between income and export growth of capital goods, consumer non-durable goods, intermediate goods, and primary non-energy goods. Trade openness allows stimulation of growth and efficiency as producers in China are exploiting areas in which they have a comparative advantage.
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Arruda, Elano Ferreira, Antônio Clécio de Brito, and Pablo Urano de Carvalho Castelar. "Exchange Rate and Trade Balances in Brazil: A Disaggregated Analysis by Major Economic Categories." International Journal of Economics and Finance 14, no. 6 (May 30, 2022): 62. http://dx.doi.org/10.5539/ijef.v14n6p62.
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This work investigates the repercussions of real devaluations in the exchange rate on the trade balance for Brazil, when considering major economic categories, i.e., capital goods, durable consumer goods, semi-durable and non-durable consumer goods, intermediate goods, and fuels and lubricants. To this end, monthly data are used for the period January 2000 and July 2019, and vector error correction (VEC) models. The results suggest that, in the long run, real devaluations in the exchange rate have positive and elastic impacts on the trade balance in all sectors, except for fuels and lubricants. Only the durable consumer goods and fuels and lubricants sectors do not show the occurrence of the J curve. Domestic income has a negative impact on the trade balance in most models analyzed, while foreign income has a positive impact on all sectors, except for fuels and lubricants.
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Vijay, Dr S. "A Study On Impact Of White Goods Towards consumers Preference." Journal of University of Shanghai for Science and Technology 23, no. 12 (December 18, 2021): 300–315. http://dx.doi.org/10.51201/jusst/21/121029.
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The market’s level of competition has risen as a result of the advent of the overseas white goods industry. With rising earnings, dual-income families, changing lifestyles, credit availability, greater consumer knowledge, and the introduction of new models by Indian and multinational companies, India’s consumer durable sector is riding the crest of the country’s economic boom. As the Durable market is growing rapidly, an understanding of the consumer behavior regarding the characteristic of consumers in influencing their buying behavior is crucial. Consumer requirements of Air-condition, Washing machine and Refrigerator are at present not limited to its basic function but also on other values like – efficiency, ease of use and comfort. The consumer durables industry is marked by the growth of multinational corporations (MNCs), exchange offers, discounts, and fierce competition. MNCs have a 65 percent market share in the consumer durables industry. The expanding Indian middle class is a major focus for multinational corporations. They compete on the basis of a firm grasp on the local market, well-known brands, and a large distribution network, whereas Indian companies compete on the basis of a firm grasp on the local market, well-known brands, and a large distribution network. Consumer durables penetration, on the other hand, is still low in India. At this juncture, this study has been undertaken for to find out the impact and reality of white goods market in India.
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Sengupta, Indrani, and Dhaval Maheta. "Stock Price Volatility of NSE Thematic Consumption Index: An Econometric Analysis." Management Insight - The Journal of Incisive Analysers 16, no. 02 (December 25, 2020): 17–22. http://dx.doi.org/10.21844/mijia.16.2.3.
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Had the Indian economy were a person, its income in 2020-21 and 2021-22 would be much less than what it was in 2019-20. This is what the recent World Bank predictions says. There is vast, perhaps unparalleled, economic pain ahead. The World Bank released its Global Economic Prospects report in the second week of June, expecting India’s gross domestic product (GDP) to contract by 3.2% in 2020-21. A moderate recovery growth is expected from 3.1% in 2021-22. India is not the only country which will face this quandary. As per the statistics, generally March and April each contributes to the sales turnover of 12% every year, but March 2020 has witnessed a downfall of 55% year on year amidst the corona- induced lockdown. Undoubtedly, the pandemic has a tremendous impact on these, but the industry certainly needs to cope us with the current situation and some key transitions should be made in their approach to sales, logistics, marketing to customer service. So, as an investor we need to know how the consumption market was just before the Covid-19 hit the Indian premise. The consumption industry is further segregates into durable, non-durable goods and services industry. This paper compares the price volatility of the stock prices of three firms who are into consumer goods with its related NSE Nifty consumption index. Data has been taken from NSE website and the time period of the study is 2015-2019. The data has further been treated with time series analysis using multiple regression which tries to test whether there is any connect between the trends of the stock prices of firms vis-à-vis the Nifty index of the sector. The study also attempts to identify patterns between the regressor and the regressands.
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Urban, Glen L., John S. Hulland, and Bruce D. Weinberg. "Premarket Forecasting for New Consumer Durable Goods: Modeling Categorization, Elimination, and Consideration Phenomena." Journal of Marketing 57, no. 2 (April 1993): 47–63. http://dx.doi.org/10.1177/002224299305700204.
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The authors extend previous models for premarket forecasting of new durable consumer goods by including parameters that reflect consumers’ categorization and consideration processes. They propose a model and measurement methodology, which they apply to the premarket forecasting of a new automobile. They describe empirical data collection, parameter estimation, managerial implications, validation issues, and future research needs. The extended model generates new managerial insights into positioning and marketing planning effectiveness, can be used to simulate the effects of changes in positioning strategy on consideration and choice, and provides more detailed information about why consumers consider or reject a new brand. The relevance of the categorization extension for other new product models that condition choice on a consideration set is also explored.
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Avila-Foucat, Veronique Sophie, Karla J. Rodriguez-Robayo, Kelly W. Jones, Erin C. Pischke, David Torrez, Jacob Salcone, Theresa Selfa, and Kathleen E. Halvorsen. "Household’s Allocation of Payment for Ecosystem Services in “La Antigua” Watershed, Veracruz, México." Journal of Environment & Development 30, no. 2 (April 5, 2021): 191–213. http://dx.doi.org/10.1177/10704965211003148.
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Payment for ecosystem services (PES) is an environmental policy looking to improve ecosystem conservation and well-being. Assets have been used to evaluate socioeconomic outcomes of the program; however, the allocation of PES at a household level and its explaining variables have not been addressed. Thus, the aim of this article is to study the allocation of PES in nondurable and durable goods and the determinants of this household decision. Results from the La Antigua watershed located in Mexico indicate that the PES program is primarily used in durable goods, mainly on health, house infrastructure, agricultural inputs, and reforestation. Econometric models show that this allocation to one or several assets depends on the average age of the household head, on participation in a community organization, and on the average income. In contrast, government transfers are not significant. Based on this, policy recommendations are made related to the program’s socioeconomic outcomes and alignment with other conditional cash transfer.
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Muranko, Żaneta, Catriona Tassell, Anouk Zeeuw van der Laan, and Marco Aurisicchio. "Characterisation and Environmental Value Proposition of Reuse Models for Fast-Moving Consumer Goods: Reusable Packaging and Products." Sustainability 13, no. 5 (March 1, 2021): 2609. http://dx.doi.org/10.3390/su13052609.
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Problem: Fast-Moving Consumer Goods (FMCGs) are products that are purchased and consumed frequently to satisfy continuous consumer demand. In a linear economy, FMCGs are typically offered as single-use and disposable products. Limitations in product design, insufficient collection systems, and inefficient recovery processes prevent high recycling rates. As a result, FMCGs often end up in landfill or the environment, contributing to waste accumulation, and pollution. Whilst recycling is the most common waste prevention strategy practiced by the industry, the process is limited to addressing only the final stage of the product life cycle, omitting the overproduction and consumption of materials typical of FMCGs. Instead, reuse is a strategy that is capable of extending the value of resources by slowing material flows. Novel reuse models that require the consumer to interact with durable primary packaging and products are emerging in the FMCG industry. However, the constituent elements and operation principles of such reuse models are not fully understood. The aim of this research is to develop a comprehensive characterisation of reuse models and to evaluate their potential to deliver environmental value. Method: Ninety-two reuse offerings were selected and analysed to identify their reuse system elements. The analysis led to the identification of a framework including five reuse models, which were also evaluated to establish their capability to deliver environmental value when compared to conventional single-use and disposable FMCGs. Results: Currently in the FMCG sector, reusable products are mostly durable packaging, such as bottles and containers for beverages, foods, personal and home care goods, and are infrequently durable products, such as personal and baby care goods, including razors and nappies. Three reuse models involve exclusive reuse, a behaviour by which a reusable product is used and kept by a single user throughout the product lifetime. In exclusive reuse models, users are provided with either a reusable product (model 1), a reusable product with preparation for reuse infrastructure (model 2), or access to preparation for reuse infrastructure (model 3). Two reuse models involve sequential reuse, a behaviour by which a reusable product is used by multiple users throughout the product lifetime and returned after each use to a provider. In sequential reuse models, users are provided with either a reusable product with preparation for reuse infrastructure and provider-operated recovery services (model 4), or a reusable product and provider-operated services for recovery and preparation for reuse (model 5). Whilst the five reuse models can operate standalone, some offerings were found to embed a multi-model approach. Both exclusive and sequential reuse models are capable of delivering environmental value by reducing the use of natural resources and retaining their value in the economy. In particular, sequential reuse models were found to have a greater capability to increase the share of recyclable resources by offering access to infrastructure for the closure of material loops. Conclusions: Consumers can currently access five reuse models and choose between exclusive and sequential reuse behaviours. When adopted in conjunction with recycling, reuse models can enable a more efficient consumption of FMCGs. Providing the infrastructure necessary to enable reuse and recycling is key to the successful and sustainable deployment of the reuse models.
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Abhishek, Vibhanshu, Jose A. Guajardo, and Zhe Zhang. "Business Models in the Sharing Economy: Manufacturing Durable Goods in the Presence of Peer-to-Peer Rental Markets." Information Systems Research 32, no. 4 (December 2021): 1450–69. http://dx.doi.org/10.1287/isre.2021.1034.
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With peer-to-peer sharing of durable goods like cars, boats, and condominiums, it is unclear how manufacturers should react. They could seek to encourage these markets or compete against them by offering their own rentals. This work shows why the best business model depends on whether consumer usage rates vary or not. Contrary to what might be expected, this paper shows that manufacturers have an incentive to facilitate transactions of P2P rental markets in a large variety of cases. We find that when consumer variation in usage rates is intermediate, the manufacturer is surprisingly best off avoiding offering its own direct rentals option and instead, facilitating a peer-to-peer rental market where consumers can share among themselves. The reason for this is an effect unique to the sharing economy, the equalizing effect. The equalizing effect shows that peer-to-peer rentals uniquely make previously heterogeneous willingness-to-pay among consumers more similar, making it easier for the firm to discriminate between the higher- and lower-value consumers, thus allowing it to extract a higher portion of consumers’ surplus. Surprisingly, there are some cases where peer-to-peer rentals benefit the manufacturer, but consumers are hurt overall (though the lower-usage consumers do always benefit from the availability of peer-to-peer rentals).
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Abhishek, Vibhanshu, Jose A. Guajardo, and Zhe Zhang. "Business Models in the Sharing Economy: Manufacturing Durable Goods in the Presence of Peer-to-Peer Rental Markets." Information Systems Research 32, no. 4 (December 2021): 1450–69. http://dx.doi.org/10.1287/isre.2021.1034.
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With peer-to-peer sharing of durable goods like cars, boats, and condominiums, it is unclear how manufacturers should react. They could seek to encourage these markets or compete against them by offering their own rentals. This work shows why the best business model depends on whether consumer usage rates vary or not. Contrary to what might be expected, this paper shows that manufacturers have an incentive to facilitate transactions of P2P rental markets in a large variety of cases. We find that when consumer variation in usage rates is intermediate, the manufacturer is surprisingly best off avoiding offering its own direct rentals option and instead, facilitating a peer-to-peer rental market where consumers can share among themselves. The reason for this is an effect unique to the sharing economy, the equalizing effect. The equalizing effect shows that peer-to-peer rentals uniquely make previously heterogeneous willingness-to-pay among consumers more similar, making it easier for the firm to discriminate between the higher- and lower-value consumers, thus allowing it to extract a higher portion of consumers’ surplus. Surprisingly, there are some cases where peer-to-peer rentals benefit the manufacturer, but consumers are hurt overall (though the lower-usage consumers do always benefit from the availability of peer-to-peer rentals).
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Romanyuk, Kirill. "Impact of the COVID-19 Pandemic on the US Credit Default Swap Market." Complexity 2021 (November 30, 2021): 1–5. http://dx.doi.org/10.1155/2021/1656448.
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The COVID-19 pandemic affected the US economy at different levels. Since credit default swaps can be viewed as a default probability indicator, the article shows the credit default swap market perspective on how the US economy was hit by the pandemic. Forecasting models are built to estimate the predictability of the CDS market sectors during the pandemic, i.e., manufacturing, energy, banks, consumer goods, and services and financial sector excluding banks. Econometric tests are applied to check the uniqueness of credit default swap market sectors after the declaration of the pandemic. The results indicate that the financial sector excluding banks performed uniquely during the pandemic; i.e., the predictability of this sector dropped significantly, and the Chow breakpoint test and Wald coefficient test can identify the shift in the data after declaration of the pandemic.
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Campos, Octávio Valente, Wagner Moura Lamounier, and Rafael Morais de Souza. "The composition of firms' indebtedness and the macroeconomy of capital." Revista Catarinense da Ciência Contábil 21 (September 9, 2022): e3296. http://dx.doi.org/10.16930/2237-7662202232962.
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The objective of this research is to analyze the influence that monetary policies exert on the composition of the indebtedness of Brazilian corporations. From this objective, 2 hypotheses derive. The first analyzes the sample aggregate and the second directs the tests to the productive sectors. The study sample is composed of 220 companies: 84 of consumer goods, 89 of capital goods and 47 of public utility. The data collected refer to the years 2009 to 2019. The methodology used for data analysis is through panel data models, using the GMM approach. According to the results, it can be concluded - in the light of the macroeconomics of capital - that the composition of the firms' indebtedness can be determined by the market moments defined by the monetary policies, so that such influence is different depending on the sector to which the companies are located in the production chain. These results complement the literature that studies the impacts of monetary policies and macroeconomic variables on corporate finance, mainly through econometric modeling based on accounting data.
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Díaz Carreño, Miguel Ángel, Pablo Mejía Reyes, and Liliana Rendón Rojas. "EFECTOS DE LA PANDEMIA COVID-19 EN LA PRODUCCIÓN ESTATAL DE MÉXICO." Investigación Económica 81, no. 322 (September 29, 2022): 110. http://dx.doi.org/10.22201/fe.01851667p.2022.322.82267.
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<p>Este artículo presenta un análisis de la caída de la producción de los estados de México en el segundo trimestre de 2020 como consecuencia de la pandemia de COVID-19. Estimamos modelos econométricos de corte transversal (ante la ausencia de efectos espaciales) y encontramos que las variables asociadas al contexto internacional, como las remesas, el grado de integración internacional y el sector básico, no tienen efectos estadísticamente significativos en la profunda contracción de la producción estatal, en tanto que la producción manufacturera, en particular de la bienes durables, las actividades turísticas y de esparcimiento resultaron significativas en su explicación.</p><p> </p><p align="center">EFFECTS OF THE COVID-19 PANDEMIC ON MEXICO’S STATES PRODUCTION</p><p align="center"><strong>ABSTRACT</strong></p><p>This paper develops an analysis of the deep production contraction of Mexico’s 32 states in the second quarter of 2020 as a consequence of the COVID-19 pandemic. Cross-section econometric models are estimated (in the absence of spatial effects); the main results suggest that variables associated to the international context, such as remittances, degree of international integration and basic tradeable goods production do not have statistically significant effects on the drop of production, while manufacturing production, particularly that of durable goods, and touristic and leisure activities are significant in explaining it.</p>
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Işığıçok, Erkan, Ramazan Öz, and Savaş Tarkun. "Forecasting and Technical Comparison of Inflation in Turkey With Box-Jenkins (ARIMA) Models and the Artificial Neural Network." International Journal of Energy Optimization and Engineering 9, no. 4 (October 2020): 84–103. http://dx.doi.org/10.4018/ijeoe.2020100106.
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Inflation refers to an ongoing and overall comprehensive increase in the overall level of goods and services price in the economy. Today, inflation, which is attempted to be kept under control by central banks or, in the same way, whose price stability is attempted, consists of continuous price changes that occur in all the goods and services used by the consumers. Undoubtedly, in terms of economy, in addition to the realized inflation, inflation expectations are also gaining importance. This situation requires forecasting the future rates of inflation. Therefore, reliable forecasting of the future rates of inflation in a country will determine the policies to be applied by the decision-makers in the economy. The aim of this study is to predict inflation in the next period based on the consumer price index (CPI) data with two alternative techniques and to examine the predictive performance of these two techniques comparatively. Thus, the first of the two main objectives of the study are to forecast the future rates of inflation with two alternative techniques, while the second is to compare the two techniques with respect to statistical and econometric criteria and determine which technique performs better in comparison. In this context, the 9-month inflation in April-December 2019 was forecast by Box-Jenkins (ARIMA) models and Artificial Neural Networks (ANN), using the CPI data which consist of 207 data from January 2002 to March 2019 and the predictive performance of both techniques was examined comparatively. It was observed that the results obtained from both techniques were close to each other.
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Mgadmi, Nidhal, Azza Béjaoui, Wajdi Moussa, and Tarek Sadraoui. "The Impact of the COVID-19 Pandemic on the Cryptocurrency Market." Scientific Annals of Economics and Business 69, no. 3 (September 12, 2022): 343–59. http://dx.doi.org/10.47743/saeb-2022-0014.
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The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment.
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Dinca, Gheorghita, Marius Sorin Dinca, and Catalina Popione. "Analyzing Fiscal Balance Evolution for Developed and Emerging Countries." Scientific Annals of Economics and Business 63, no. 3 (2016): 299–310. http://dx.doi.org/10.1515/saeb-2016-0123.
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The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment.
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Hauser, John. "A marketing science perspective on recognition-based heuristics (and the fast-and-frugal paradigm)." Judgment and Decision Making 6, no. 5 (July 2011): 396–408. http://dx.doi.org/10.1017/s1930297500001352.
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AbstractMarketing science seeks to prescribe better marketing strategies (advertising, product development, pricing, etc.). To do so we rely on models of consumer decisions grounded in empirical observations. Field experience suggests that recognition-based heuristics help consumers to choose which brands to consider and purchase in frequently-purchased categories, but other heuristics are more relevant in durable-goods categories. Screening with recognition is a rational screening rule when advertising is a signal of product quality, when observing other consumers makes it easy to learn decision rules, and when firms react to engineering-design constraints by offering brands such that a high-level on one product feature implies a low level on another product feature. Experience with applications and field experiments suggests four fruitful research topics: deciding how to decide (endogeneity), learning decision rules by self-reflection, risk reduction, and the difference between utility functions and decision rules. These challenges also pose methodological cautions.
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Ramada, Óscar Teixeira. "Intellectual Capital and Brands: Relationships between Two Kinds of Intangible Assets." International Journal of Scientific and Management Research 05, no. 04 (2022): 33–41. http://dx.doi.org/10.37502/ijsmr.2022.5403.
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The aim of this research is to know what the relevant literature says about 2 assets, belonging to the same category of intangibles and what their relationships (if any) are: the intellectual capital and brands. Generally, what the literature on intellectual capital lists are other topics, all of a non-intangible nature, such as business performance, competitive advantages, innovation, in particular. From the analysis and interpretation carried out in the papers selected for the aforementioned literature review, this did not allow finding a value for the brand, because even with an adequate formula, its value in € is not known, since it is dependent to know, also in €, the value of intellectual capital. It is thus observed that, evaluating a brand is dependent on evaluating the intellectual capital. If this one cannot be evaluated, so will that one. It was noted in particular that the brands considered were inserted in activity sectors, in a generic way, not materializing in anyone, in particular. On the other hand, the non-durable consumer goods sector and, in particular, the presence of the marketing aspect is completely omitted. This, in none of the cases, is referred to as what concerns communication, communication models, and even the principles of communication plans. In addition, brand functions and components, the creation and development of a brand, the identity prism, and even storytelling, are not present, instead of what they should be, working as expressions of intellectual capital in the context of brands, goods, and companies.
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Ciccone, Alice, and Emilia Soldani. "Stick or Carrot? Asymmetric Responses to Vehicle Registration Taxes in Norway." Environmental and Resource Economics 80, no. 1 (August 5, 2021): 59–94. http://dx.doi.org/10.1007/s10640-021-00578-6.
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AbstractVehicle registrations have been shown to strongly react to tax reforms aimed at reducing CO2 emissions from passengers’ cars, but are the effects equally strong for positive and negative tax changes? The literature on asymmetric reactions to price and tax changes has documented asymmetries for everyday goods but has not yet considered durables. We leverage multiple vehicle registration tax (VRT) reforms in Norway and estimate their impact on within car-model substitutions. We estimate stronger effects for cars receiving tax cuts and rebates than for those affected by tax increases. The corresponding estimated elasticity is − 1.99 for VRT decreases and 0.77 for increases. As consumers may also substitute across car models, our estimates represent a lower bound.
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Wieland, Thomas. "Spatial Shopping Behavior in a Multi-Channel Environment: A Discrete Choice Model Approach." REGION 8, no. 2 (August 4, 2021): 1–27. http://dx.doi.org/10.18335/region.v8i2.361.
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Spatial impacts of online shopping are discussed frequently in retail geography. Here, online shopping is mostly regarded as a central driver of competition for physical retailing and its locations, such as town centers or malls. Due to its high popularity, cross-channel shopping is sometimes considered to be a support for physical retailing. However, traditional retail location theory does not consider shopping channels other than in-store shopping. Furthermore, although online shopping is far too important to be neglected in examining consumer spatial shopping behavior, there is an obvious lack in the previous literature towards incorporating multi- and cross-channel shopping into store choice models. The present study aims to identify the main drivers of store choice on the basis that both in-store and online shopping alternatives are available, as well as the opportunity for cross-channel shopping. Taking into account previous literature on both physical store choice and multi-channel shopping, hypotheses on the impact of different shopping transaction costs (such as travel time, delivery charges, or uncertainty with respect to the stores' assortment) were derived. Based on a representative consumer survey, real past shopping decisions in three retail sectors (groceries, consumer electronics [CE], and furniture) were collected. The econometric analysis of empirical store choices was performed using a nested logit model which includes both physical and online stores. The results confirm several assumptions of classical retail location theory as well as previous findings from single-firm studies and stated choice experiments on multi-channel shopping behavior. Travel time to physical stores reduces consumer utility and store choice probability, respectively. Consumer sensitivity towards travel time decreases with decreasing purchase frequency of the desired goods. Delivery charges also decrease the likelihood of choosing a store. The impact of cross-channel integration on store choice (assuming the reduction of consumer transaction costs) is considerably lower than expected and differs between retail sectors. While furniture retailers profit from enabling cross-channel shopping, there is no such competitive advantage found for grocery and CE retailers. The positive effect of assortment on condition of diminishing marginal utility is confirmed for grocery stores and CE stores, but not for furniture stores. From a theoretical perspective, this study shows that multi- and cross-channel shopping behavior does not contradict the main thoughts of classical retail location theory. From a practical perspective, the study is a contribution as store choice models play a significant role in both business location planning and governmental land use planning.
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Barbosa Soares, Cícero Allan, Ian Henrique Teles Braga, Rômulo Pereira de Almeida, Marcus Vinicius De Oliveira Brasil, Paulo Renato Alves Firmino, and Cícero Carlos Felix de Oliveira. "Study of association models for determining the growth of the fleet of motor vehicles in the Metropolitan Region of Cariri, Ceará." International Journal for Innovation Education and Research 9, no. 11 (November 1, 2021): 64–77. http://dx.doi.org/10.31686/ijier.vol9.iss11.3473.
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The quality of life underlying the modern society can be attributed to several factors, among them, the technological and economic development experienced in recent years. Durable consumer goods are part of this modern society, such as automobiles. However, because most automobiles are powered by the combustion of fossil fuels, the emission of greenhouse gases is a worrisome environmental problem. The objective of this article is to analyze Gross Domestic Product (GDP) data, population and SELIC rate (SELIC stands for Special System of Settlement and Custody) in the period from 2001 to 2020 to evaluate the impact on the number of vehicles in the Cariri Metropolitan Region (RMC), using multivariate models. It was verified that the fleet of the RMC experienced an increase of 561.45% in the last 20 years. Three prediction models were tested and the conclusion was reached that for the next 20 years it is not sustainable to maintain the same growth already experienced, in a linear manner. Instead, the ideal is to adopt a model with growth forecast with a logarithmic function, i. e. with a stationary tendency in the long time. In a society where over 50% of vehicles are more than 10 years old, it is essential that public managers, the private initiative, the academic-scientific environment and society adopt sustainable practices and consider future scenarios to make decisions in order to preserve the environment and to ensure everyone's quality of life.
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Downer, Paige, John Prochaska, and Rebeca Wong. "LIFECOURSE DETERMINANTS OF DEPRESSION AMONG OLDER MEXICAN ADULTS." Innovation in Aging 6, Supplement_1 (November 1, 2022): 848–49. http://dx.doi.org/10.1093/geroni/igac059.3041.
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Abstract Older adults’ exposure to poverty, poor health, and negative life events over their lifetime creates cumulative adversity, increasing their risk of depressive symptoms. We hypothesize that those with disadvantaged sociodemographic characteristics like household poverty, chronic health conditions, and negative lifecourse exposures will be more likely to report a high number of depressive symptoms in old age. Three sequential multivariable logistic regression models were estimated using Wave 3 (2012) of the Mexican Health and Aging Study (MHAS). The final sample included 5,610 respondents aged 50 and older, of which 34.3% reported depression measured by a modified 9-item CES-D scale. The sample was mostly female (63.3%) with a mean age of 69. Present-day conditions were measured by quality of the home, consumer durables, chronic health conditions, and health insurance. Early-life conditions were measured by the respondent’s mother’s education and exposure to poverty and illness during childhood. In 2012, older Mexican adults living in homes built with poor construction materials or homes that lack access to water and sanitation (OR=1.24) were more likely to experience high depressive symptoms. In addition, those living in homes without consumer durable goods (OR=1.23) were at increased risk. Older Mexican adults who experienced poverty (OR=1.16) or illness during childhood (OR=1.21) were more likely to report a high number of depressive symptoms in old age. In conclusion, we find evidence of a “long-arm” of childhood, whereas older Mexican adults’ exposure to poverty and illness in childhood increases their likelihood of poor mental health outcomes, regardless of their present-day conditions.
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Chiu, Ya-Ling, Jiangze Du, and Jying-Nan Wang. "The Effects of Price Dispersion on Sales in the Automobile Industry: A Dynamic Panel Analysis." SAGE Open 12, no. 3 (July 2022): 215824402211206. http://dx.doi.org/10.1177/21582440221120647.
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Price dispersion is an important indicator of pricing strategy and market efficiency. However, the relationship between price dispersion and sales has not been explored, especially for durable goods such as automobiles. In this study, we use a unique data set from Autohome comprising the actual transaction prices of buyers to assess the extent of price dispersion in the new automobile market. Based on an empirical analysis of over 222,592 price observations for 59 vehicle models collected over a period of 48 months, we find that the percentage difference ( PD) and coefficient of variation ( CV) of new automobile transaction prices are 43.4% and 9.9%, respectively. In addition, the empirical results show that the price dispersions lower for non-sedan type, Chinese car brands, and produced by state-owned companies. We further investigate whether the increase in the price dispersion of a new automobile has a positive impact on automobile sales using a multiple quadratic regression model. The findings show that price dispersion has positively impact of sales. More interestingly, negative quadratic effects are observed, indicating a concave-down-increasing relationship between price dispersion and sales. This implies that an extreme price dispersion is less helpful than a moderate price dispersion. These findings advance knowledge of consumer buying behavior and seller pricing strategies, with important theoretical contributions and practical implications for automobile companies.
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Mejía-Matute, Silvia Raquel, and Luis Gabriel Pinos-Luzuriaga. "Petróleo y Enfermedad Holandesa en el Ecuador, 2001 – 2015." UDA AKADEM, no. 7 (April 1, 2021): 158–93. http://dx.doi.org/10.33324/udaakadem.vi7.373.
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La literatura de la economía del desarrollo, considera que un país con auge por hidrocarburos sufre de la enfermedad holandesa cuando el incremento del ingreso de capitales por el sector en auge, las remesas o la inversión extranjera, producen apreciación del tipo de cambio real que provoca desindustrialización. Los objetivos de esta investigación fueron establecer si la economía ecuatoriana sufrió del mal holandés en el segundo auge petrolero del Ecuador, entre el periodo 2001-2014 y determinar las variables que explican estos síntomas. Para ello, se realiza un análisis descriptivo basado en información del Banco Central y se construyen dos modelos econométricos con series de tiempo, donde las variables independientes son el tipo de cambio real y el peso de los bienes transables y los bienes no transables. Las variables independientes son el precio del petróleo, el gasto público, el índice de precios del consumidor y las exportaciones manufactureras. Los resultados muestran que la economía ecuatoriana presentó síntomas del mal holandés como el estancamiento de la industria, pero, no existe suficiente evidencia empírica que permita aseverar que fue causado por la apreciación del tipo de cambio real y el incremento de los precios del petróleo. Palabras clave: Enfermedad Holandesa, Petróleo, Tipo de Cambio Real, Transables y No Transables.
Abstract
The literature on development economics considers that a country with a hydrocarbon boom suffers from the Dutch Disease when the increase in capital inflows by the booming sector, remittances or foreign investment produces appreciation of the real exchange rate that causes deindustrialization. The objectives of this research were to establish if the Ecuadorian economy suffered from Dutch disease in the second oil boom in Ecuador between the period 2001 - 2014 and to determine the variables that explain these symptoms. For this, a descriptive analysis based on information from the Central Bank is carried out and two econometric models with time series are constructed, where the independent variables are the real exchange rate and the weight of tradable goods and nontradable goods. The independent variables are the price of oil, public spending, consumer´s price index and manufacturing exports. The results show that the Ecuadorian economy presented symptoms of the Dutch disease such as the stagnation of the industry, but there is not enough empirical evidence to assert that it was caused by the appreciation of the real exchange rate and the increase in oil prices.Keywords: Dutch Disease, Oil, Real Exchange Rate, Tradable and Non-Tradable
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Serletis, Apostolos, and Libo Xu. "CONSUMPTION, LEISURE, AND MONEY." Macroeconomic Dynamics, September 10, 2019, 1–30. http://dx.doi.org/10.1017/s1365100519000725.
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This paper takes a parametric approach to demand analysis and tests the weak separability assumptions that are often implicitly made in representative agent models of modern macroeconomics. The approach allows estimation and testing in a systems-of-equations context, using the minflex Laurent flexible functional form for the underlying utility function and relaxing the assumption of fixed consumer preferences by assuming Markov regime switching. We generate inference consistent with both theoretical and econometric regularity. We strongly reject weak separability of consumption and leisure from real money balances as well as weak separability of consumption from leisure and real money balances, meaning that the inclusion of a money in economic models would be of quantitative importance. We also investigate the substitutability/complementarity relationship among different categories of personal consumption expenditure (nondurables, durables, and services), leisure, and money. We find that the goods are net Morishima substitutes, but because of positive income effects they are gross complements. The implications for monetary policy are also briefly discussed.
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Pachali, Max J., Peter Kurz, and Thomas Otter. "EXPRESS: Omitted Budget Constraint Bias and Implications for Competitive Pricing." Journal of Marketing Research, December 1, 2022, 002224372211452. http://dx.doi.org/10.1177/00222437221145283.
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Standard Choice-Based Conjoint (CBC) models often ignore or insufficiently approximate consumers’ budget constraints, despite the prominent role of budget constraints in economic theory. The authors offer a theoretically motivated improvement to the CBC model that is especially appropriate for high-ticket durable goods and develop a Bayesian method for the inference of unobserved budget constraints. The proposed method leverages respondents’ stated budget constraints that suffer from measurement error and respondents’ financial demographic variables as additional information to reduce the dependency on functional form assumptions in the estimation. The authors show that accounting for budget constraints substantially increases model fit and the accuracy of competitive pricing in an industry-grade discrete-choice experiment on consumer preferences for high-end laptops. The proposed model performs better than the canonical linear price benchmark model, which is not flexible enough to approximate budget constraints. In theory, more flexible utility specifications, such as the non-linear dummy price model, can approximate consumers’ budget constraints. However, they perform poorly when only finite data are available. The authors conclude that applied researchers in industry and academia will benefit from having a better tool for estimating budgets in high-ticket categories.
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Mahmoudzadeh, Mahdi. "Comment on “Is Leasing Greener Than Selling?” and Remark on the Focal Point Analysis in Durable Goods Models." Management Science, December 6, 2022. http://dx.doi.org/10.1287/mnsc.2022.4637.
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The focal point analysis is a viable approach to analyze models of finitely durable goods in infinite time horizon. Agrawal, Ferguson, Toktay, and Thomas [Agrawal VV, Ferguson M, Toktay LB, Thomas VM (2012) Is leasing greener than selling? Management Sci. 58(3):523–533.] study the focal point of steady-state firm–consumer games for leasing and selling models. We note that the optimal solution for their selling model does not reflect self-replicated leases mirroring the lease offered by the firm and show that the solution is indeed erroneous as it violates the constraint on consumer-type cutoffs. Although this does not affect the structure of their propositions, that is, outlining thresholds for more profitability and greenness of selling compared with leasing, it renders the thresholds incorrect. We first uncover and fix the root cause of the error. We then distinguish the focal point analysis from the rental price approach and note a few remarks for future durable goods models. This paper was accepted by Jayashankar Swaminathan, operations management. Supplemental Material: Data are available at https://doi.org/10.1287/mnsc.2022.4637 .
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"Book Reviews." Journal of Economic Literature 53, no. 4 (December 1, 2015): 1019–21. http://dx.doi.org/10.1257/jel.53.4.1017.r2.
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Benjamin Williams of George Washington University reviews “Structural Econometric Models”, by Eugene Choo and Matthew Shum. The Econlit abstract of this book begins: “Twelve papers explore recent developments in the use of structural econometric models in empirical economics. Papers discuss Euler equations for the estimation of dynamic discrete choice structural models; approximating high-dimensional dynamic models—sieve value function iteration; identifying dynamic games with serially correlated unobservables; partial identification in two-sided matching models; identification of matching complementarities—a geometric viewpoint; comparative static and computational methods for an empirical one-to-one transferable utility matching model; a test for monotone comparative statics; estimating supermodular games using rationalizable strategies; estimation of the loan spread equation with endogenous bank-firm matching; the collective marriage matching model— identification, estimation, and testing; deflation in durable goods markets—an empirical model of the Tokyo condominium market; and a dynamic analysis of the U.S. cigarette market and antismoking policies. Choo is with the Department of Economics at the University of Calgary. Shum is with the Division of Humanities and Social Sciences at the California Institute of Technology.”
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Miller, Chadwick J., and Daniel C. Brannon. "Pursuing premium: comparing pre-owned versus new durable markets." Journal of Product & Brand Management ahead-of-print, ahead-of-print (March 1, 2021). http://dx.doi.org/10.1108/jpbm-02-2020-2769.
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Purpose The purpose of this paper is to investigate whether consumers in pre-owned durable goods markets (such as pre-owned automobiles) purchase products with higher premium/luxury positioning in a vertical line-up compared to consumers in new durable goods markets. The moderating role of brand loyalty on choice is also investigated. Design/methodology/approach The hypotheses are tested using a data set that includes the sales of new and pre-owned vehicles from an independently owned automotive dealer in the Northwestern USA during the first nine months of 2017 (N = 200). An ordered logit regression is used to estimate the relationship between consumers’ purchase of pre-owned vs new vehicles and the premium-level of the model that they choose, while controlling for the vehicle price. Two experimental robustness tests are conducted to provide empirical evidence of the proposed theoretical process. Findings Consumers who purchased pre-owned vehicles chose models with higher premium/luxury positioning compared to consumers who purchased new vehicles, even when controlling for price. This effect was moderated by brand loyalty, such that consumers’ premium-level of purchase was magnified if they previously owned a vehicle of the same brand. The results of an experimental robustness test indicated that consumers’ preference for pre-owned vehicles with higher premium/luxury positioning was because of greater perceptions of the quality along the dimensions of versatility, performance and prestige. Practical implications Sellers of complex durable goods (e.g. automobiles) should consider segmenting their upselling strategies for pre-owned vs new products. They should specifically focus more effort on the upselling of pre-owned durables as buyers appear more likely to pursue premium/luxury alternatives compared to new durables. Further, they should focus upselling efforts for pre-owned durables on brand loyal consumers. Originality/value To the best of the authors’ knowledge, this work is the first to examine consumers’ desire for pre-owned durable goods with premium/luxury positioning in a vertical product line-up. Further, it is also the first to explore the role of brand loyalty in shaping consumer preferences for premium/luxury pre-owned durable goods. As such, it makes an important contribution to an emerging literature exploring the appeal of premium and luxury pre-owned goods. Much work in this area has focused on the motivations that consumers have for buying pre-owned premium and luxury nondurable goods, such as vintage clothing or accessories. By contrast, the present research investigates the appeal of premium/luxury positioning for complex, pre-owned durable goods (vehicles), which are more difficult for consumers to evaluate at the point-of-purchase.
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Huffman, Wallace E., Sonya K. Huffman, Kyrre Rickertsen, and Abebayehu Tegene. "Over-Nutrition and Changing Health Status in High Income Countries." Forum for Health Economics & Policy 13, no. 1 (June 24, 2010). http://dx.doi.org/10.2202/1558-9544.1181.
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As per capita incomes in developed countries have grown over the past three decades, over-nutrition leading to obesity and elevated health risks for cardiovascular disease, diabetes and some forms of cancer has occurred. We use economic and econometric models to identify the impact of food prices on the aggregate demand for calories and the supply of health, as reflected in mortality rates. Our models are fitted to unique panel data for 18 developed countries over 1971-2001, a period when the relative price of food first rose and then declined steadily. Some findings, using de-trended data, are that a lower real price of food, of other purchased consumer goods and of time increase the demand for calories, one cause of energy imbalance, and the supply of mortality associated with obesity. These prices do not affect the rate of non-obesity-related mortality. Caloric intake is a normal good, contributing to energy imbalance as income increases, but higher incomes do reduce mortality risk. However, higher labor force participation rates, largely associated with rising numbers of working women, and a higher child dependency ratio lead to a higher rate of obesity-related mortality. An implication of our results is that further reductions in the price of food in developed countries can be expected to have a net negative impact on health as reflected in a higher mortality rate due to diseases that are linked to obesitydiabetes, cardiovascular diseases and most forms of cancer.