The contribution of E.C. consumer surveys in forecasting consumer expenditures: An econometric analysis for four major countries

In this article we investigate the forecasting performance of alternative models of private consumption using the EEC consumer surveys. Two basic conclusions emerge from the study:(1) in absolute as well as in comparison with a standard economic model, consumption functions incorporating opinion variables perform surprisingly well given the important measurement problems (missing data, qualitative character of the responses, strong collinearity among responses), and(2) consumers' opinions are helpful guides only in very short-term forecasting (between 0 and 3 quarters).The article extends previous investigations both on the basic characteristics of opinion variables and on their relation with actual economic variables.     

Contributions of social capital theory in predicting rural community inshopping behavior

The social environment in which the retailer conducts business is not often measured for its fundamental influences on consumers’ local purchasing behavior. This study, using social capital theory as a theoretical framework, examines whether reciprocal actions exist between community members as consumers and retailers and if these actions are persuasive in predicting the economic activity regarded as consumer inshopping. Determinants of inshopping behavior are analyzed from the community member’s perspective in a study of the rural community marketplace. The sample population consisted of consumers living in two rural Iowa communities with populations less than 10,000, agricultural-based economies, and retail mixtures of locally owned and operated small-sized businesses as well as national chain and discount organizations. Structural equation modeling estimated the causal patterns among consumers’ attachment to community with two endogenous variables regarding reciprocity and inshopping behavior. Findings offer supporting evidence that social relationships aid in predicting rural marketplace relationships.     

The roles of inflation and consumer sentiment in explaining Australian consumption and savings patterns

Qualitative and quantitative measures of inflation, unemployment and consumer sentiment are incorporated into traditional models of the allocation of consumers' income. Quarterly survey data collected by the Melbourne Institute of Applied Economic and Social Research are used. Both current and expected levels of variables are considered.Equations are estimated for expenditure on motor vehicles, household durabls and non-durable goods as well as for household saving. The non-traditional variables are found to be significant, although the traditional price and income variables still dominate. In several cases qualitative variables prove to be superior to their quantitative counterparts.     

Efficiency of consumer intertemporal choice under life cycle cost conditions

Many decisions made by consumers are intertemporal. Life cycle cost (LCC) conditions represent a specific type of intertemporal decisions, typically referring to items involving two cost components: present purchase price and future maintenance costs. This paper presents a conceptual framework for analyzing consumer LCC decision making. Within this framework the notion of choice efficiency is highlighted. The main contribution of the study is the direct estimation of consumers’ choice efficiency, as compared to previous studies that estimate only consumers’ implicit discount rates. Effects of situational and personal variables on efficiency of choice are estimated by means of a series of manipulated choice settings. The main empirical findings show situational effects of monetary size, type of object and time horizon. Additional findings show the effect of personal variables such as gender, marital status and education.     

Revealed versus hidden attributes as determinants of percieved product quality

Consumers' quality perception being interpreted as an overall product evaluation process, attribute importance is introduced as a mediating variable between the quality judgment and informational value of cues. Furthermore, all product attribute being classified into two different categories, revealed vs. hidden attributes, it is hypothesized that extrinsic cues can influence consumers' product evaluation only on the hidden quality attributes but not on the revealed quality attributes.     

Role of motives and attributes in consumer motion picture choice

The study focuses on consumer motion picture motives and choice criteria. Its purpose can be specified into the following objectives: (1) to examine the motivational basis of cinema attending. (2) to examine the predictive ability of movie motives and consumers' attribute importances in preference regressions of four types of movie, (3) to carry out a motion picture choice analysis by predicting audience membership with discriminant analysis. The data is based on a convinience sample of Finnish consumers (N = 228) attending one of the following types of movie: adventures/ thrillers, human/ social dramas, sex movies, entertainment movies.The results of a group of multivariate analyses (factor analysis, canonical correlation, preference regression, and discriminant analysis) indicate that consumers attending different types of films have distinctly separate motivation bases, as well as attribute importance profiles, underlying their movie choices. Each movie type had a specific preference structure, expressed by the regression coefficients. Finally, the discriminant analysis suggests that the general motive and attribute variables are effective also in predicting motion picture choice. On balance, the results were mutually supportive and exemplify the managerial usefulness of quantitative consumer analysis also in the case of such abstract leisure products as motion pictures.     

The nature of individual investors' heterogeneous expectations

This article investigates whether heterogeneity in investors' perceptions of the risk/return characteristics of a particular stock and the stock market can be explained in terms of these investors' demographic characteristics (sex, age. income and education). Results indicate that these specific demographic characteristics are not particularly useful in differentiating among investors holding divergent opinions. Hut findings confirm previous results that investors' risk perceptions vary systematically and do not result simply from measurement error.     

Is a good deal always fair? Examining the concepts of transaction value and price fairness

Previous research has shown that if consumers are aware that they are paying more than another customer for a similar transaction, then they may perceive the price to be unfair. A concept closely related to fairness is transaction value, defined as consumers’ perceptions of the psychological satisfaction or pleasure from taking advantage of a price deal. In this research, we conceptualize that although consumers’ perceptions of price fairness and transaction value share many similarities, nevertheless there are also important differences. Using three studies, we empirically examine these differences. We show that although a “bad deal” is typically perceived to be an unfair price, a “good deal” is not necessarily perceived to be the fairest price.     

Consumer attitudes towards switching supplier in three deregulated markets

The efficiency of deregulated markets is jeopardized by consumers failing to switch supplier to the extent that would be beneficial to them. In order to disentangle the determinants of failures to switch, the present study investigates consumers’ motives for negative attitudes towards switching in the deregulated Swedish markets for electricity, landline telecom, and home insurance. Based on the results of a mail survey of a random sample of 458 household consumers, reliable measures were constructed of attitude towards switching supplier, loyalty to the incumbent, information search costs to compare suppliers, and expected economic benefits from switching. A negative attitude towards switching supplier was shown to increase with loyalty, increase with information search costs and decrease with expected economic benefits. Attitude towards switching was more negative in the electricity market than in the other markets and more negative in the landline telecom market than in the home insurance market. The differences between markets were accounted for by differences in loyalty, information search costs, and expected economic benefits.     

Hybridising the cultural identity of Mulan from a Chinese ballad to American films

Hybridisation refers to the fusion of diverse cultural elements which generates new cultural forms that are distinct yet interconnected with one another. Previous studies affirmed that hybridisation has become part of an ongoing trend in transnational culture, emerging from a Third Space where diverse cultural elements enmesh. This study aims to explore how Mulan's cultural identity is hybridised when the folklore flows from China to America, becoming entangled within a conflict of Chinese-Western transcultural clashes. Using Jameson's cultural identity model, the paper analyses Mulan's cultural identity in three texts which are the original The Ballad of Mulan, Disney's animated movie Mulan (1998) and its subsequent life-action installment Mulan (2020). Components measuring the protagonist's cultural identity comprising vocation, class, geography, philosophy, language, biological traits with cultural aspects are compared. The findings show that the movies have particularly hybridise the protagonist's cultural identity from the aspects of geography, philosophy, and language. This results in a hybrid cultural identity with transnational markers in Mulan. The significance of the research thus lies in its contribution towards highlighting how Chinese figures are increasingly hybridised by Western influences as the Chinese culture continues to transcend transnational borders.     

Consumers’ responses to CSR activities: The linkage between increased awareness and purchase intention

The body of research showing the positive effects of corporate social responsibility (CSR) on consumer behavior has been growing steadily. However, previous studies have not characterized corporate behaviors in terms of their perception by consumers as significant CSR and researchers have paid little attention to consumers’ understanding of this notion of CSR. The present study explores the relationship between consumer awareness of CSR activities and their purchase intentions. This study employs a questionnaire survey involving Korean consumers. For the analysis, measurement scales for CSR activities and consumers’ purchase intention scales are respectively developed. From the results it is found that there is a significant positive relationship between these two parameters. This study finds out as CSR activities corporate social contribution and local community contribution affect consumers’ purchase intention while corporate environmental protection and contribution have no effects on consumers’ purchase intention.     

Youth service caseworkers: Social and legal factors affecting their recommendation to place youths in secure care facilities

This study examines the effects of social and legal variables on youth service caseworkers' recommendation to place youths in a secure care setting. While the findings of this study indicate that caseworkers' recommendation to place youths in such a facility is primarily influenced by their juvenile delinquency or legal background characteristics, the social variable “family composition” has a significant impact on the recommendation. This suggests that caseworkers view single-parent families as less capable than two-parent families of managing youths' serious delinquency problems and, therefore, are more likely to recommend youths from single-parent families for secure care placement consideration. The fact that legal variables are the strongest predictors of secure care decision outcomes indicates that objective criteria are being used to determine which youths to consider for secure care placement. Also, it is found that the more offenses that are committed the more likely that one will be a violent offense. This finding implies that the issue of serious juvenile delinquency should be examined and dealt with from a broad juvenile justice perspective directed at prevention as opposed to a limited focus on only the secure care process.     

Constituents’ economic interests and senator support for spending limitations

Peltzman [Peltzman, S., 1984. Constituent interest and congressional voting. Journal of Law and Economics 27, 181–210] argues that if constituents’ economic interests have well-defined “winners and losers” and are appropriately measured, then constituents’ economic interests, and not legislator ideology, are the most important determinates of legislator voting. We test Peltzman's theory by examining senatorial voting on three mandated spending limitation bills. We find, consistent with Peltzman's theory, that the ratio of federal spending in a senator's state to federal taxes paid by that state, and not a senator's personal ideology, matters on legislation where there are well-defined economic “winners and losers.” This is particularly important because unlike other constituents’ economic interest measures that only impact a fraction of the constituency, the ratio of federal spending to federal taxes in a state represents the economic interests of all the constituents in a state.     

Rural change in Prince Edward Island,Canada: an interactive of directive economy?

Galeski's work on rural social change and organisation provides the framework for an examination of recent change in the Canadian province of Prince Edward Island. The Island is a classic rural community, with its agriculture dominated by the potato. A variety of forces are promoting rural change, particularly those of an economic, political and social nature. The processes of change common to all developed capitalist rural economies — urbanisation, autonomous change, and agribusiness — are present, but there is also the PEI Development Plan, a fifteen-year federal-provincial program for the comprehensive economic and social advancement of the Province. The Plan has highlighted the obstacles to rural change. The family farm is central to the traditional Island way of life, but it is seen as being threatened by the growth of agribusiness and the increasing land purchases by non-residents. Other threats to the Island way of life are seen in the growth of tourism and the centralised school system. Paralleling these changes is the increasing level of direction in the Island's economy, particularly from the federal government and agribusiness. The response is seen in political change at the Provincial level, opposition to the Plan, and the tightest restrictions on non-resident and corporate land ownership in Canada. Rural change per se is not opposed, but there is a growing desire to preserve what is best in PEI and its traditional way of life.     

Ethical problems in program evaluation: Advice for trapped evaluators

This paper argues that ethical problems in program evaluation are increased when conflicting or incompatible evaluation models are applied concurrently. Three models are illustrated: an Amelioration Model, generating better information for a program's own decision makers; an Accountability Model, focusing on public data disclosure and citizen participation in evaluation; and an Advocacy Model, in which the evaluation is designed to advance the program's interests in the competition for resources. Ethical problems inherent in each model, and arising from combining models are presented, along with case examples and discussion. The authors suggest several directions that program evaluators can consider to reduce their vulnerability to ethical problems.     

Self-perceived Age and Attitudes Toward Marketing of Older Consumers in China

Understanding consumer psychological characteristics and their impact on consumer behavior is an important foundation for business marketing strategies. Self-perceived age has a great impact on older consumers’ behavior. This article defines the gray market in China, investigates the factors that affect the differences between older consumers’ self-perceived age and life age, and analyzes the influence of self-perceived age on older Chinese consumers’ behavior. In this study, 1,120 older consumers were randomly selected from six cities in China. Findings show that over half of the respondents feel younger than their actual life age. Related marketing strategies are discussed.     

The moral middle-class in market socialism: An investigation into the personhood of women working in NGOs in Vietnam

The paper uncovers the values that Vietnamese women produce and accumulate from the NGO sector to acquire a morality central to their middle-class identity. They present an idea of a moral middle-class that conforms to the neoliberal criteria of self-reliance and self-optimisation within the economic segment, in which values are generated in the forms of sacrifice and giving away. I argue that this idea is associated with a mode of governmentality whereby the socialist state shapes the moral subject for the sake of governance in the context of marketisation. Morality, as a governing device, motivates and polices women's compliance with their subordinate position. This paper presents findings that illustrate the slipperiness of the notion of middle-class between theories and practices and from women's perspectives. Perceived in part in terms of women's sacrifices, this study illustrates how middle-class identity is negotiated through moral, gender and class divisions in a post-socialist society.     

A revised behavioral model of consumer durable demand

A general model of consumer demand for durable goods has recently been proposed by Pickering (1978,1981). Of particular note is the use of expectations of both personal financial and general economic conditions to capture the consumer's willingness to buy. However, it is argued first that these two expectations have Jointly interdependent rather than unique contributions to consumer confidence. In addition, it is proposed that the concept of expectations should be extended to specific product attributes as well. Pickering's model is subsequently revised to incorporate the conceptual modifications.     

Fertility Determinants and Economic Uncertainty: An Assessment Using European Panel Data

This study examined the determinants of fertility, using panel data for 27 European countries. We employed panel co-integration to estimate fertility as function of demographic and economic variables. We showed that low fertility in most industrialized countries in Europe is due to low infant mortality rates, high female employment, low nuptiality rate, and high opportunity cost of having children. Using two measures of economic uncertainty, which are associated with labor market decisions—a production (an output) volatility measure and the unemployment rate—we examined to what extent economic insecurities affect fertility decisions. The empirical results showed that both measures of economic uncertainty have a significant negative impact on fertility implying that labor market insecurities might be a significant factor affecting fertility decisions.     

Expectations of inflation: The biasing effect of thoughts about specific prices

National surveys follow consumers’ expectations of future inflation, because these may directly affect the economic choices they make, indirectly affect macro-economic outcomes, and are considered in monetary policy. Yet, relatively little is known about how individuals form the inflation expectations they report on consumer surveys. Medians of reported inflation expectations tend to track official estimates of realized inflation, but show large heterogeneity between respondents, due to some expecting seemingly extreme inflation. We present two studies to examine whether individuals who consider specific price changes when forming their inflation expectations report more extreme and disagreeing inflation expectations due to focusing on specific extreme price changes. In Study 1, participants who were instructed to recall any price changes or to recall the largest price changes both thought of items for which price changes were perceived to have been extreme. Moreover, they reported more extreme year-ahead inflation expectations and showed more disagreement than did a third group that had been asked to recall the average change in price changes. Study 2 asked participants to report their year-ahead expectations of inflation, without first prompting them to recall specific price changes. Half of participants nevertheless thought of specific prices when generating their inflation expectations. Those who thought of specific prices reported more extreme and more disagreeing inflation expectations, because they were biased towards various items associated with more extreme perceived price changes. Our findings provide new insights into expectation formation processes and have implications for the design of survey-based measures of inflation.