Consumer Effort in Promotional Incentives

Consumers need to exert effort to use the incentives provided in a promotion campaign. This effort is critical in the consumers’ decision process and for the success of the campaign. We develop a model of consumer redemption effort that is general in nature and is applicable to coupons, rebates, and other price‐discrimination devices. We find that the impact of redemption effort is quite intricate on a firm’s profit and consumers’ surplus. We find that there are cases where a firm would like to operate in a low redemption cost environment while consumers would be better off with higher costs. We identify cases where price can remain the same with or without the promotion. In these cases, it is possible that the surplus for each individual consumer is higher when a firm price discriminates and improves its profit. Our results indicate that a firm would rather have variation in consumer redemption costs than to have variation in consumer valuations. However, in a market with low valuation variability, consumer redemption cost variability is essential for an efficient promotion campaign. Therefore, the markets that naturally have a lot of variability in consumer valuations should be the ones targeted for online promotion programs that reduce consumer effort levels, not the markets with low variability.     

Proposition of a General Formula for Price Indices

In this article, we propose a general formula for aggregative price indices that satisfies most postulates coming from the axiomatic price index theory. We show that the ideal Fisher index, Laspeyres and Paasche formulas, and a lot of other indices are particular cases of the proposed formula. Moreover, using the general formula we can easily define new indices, that would satisfy given postulates. We also present an interesting result for the proposed formula.     

Estimation of Laspeyres Price Indexes Using the Prediction Approach for Finite Population Sampling

Estimators of chain and fixed-base Laspeyres price indexes are studied using the prediction approach to finite population sampling. The estimators include some that are based on those used in several U.S. government index programs and others derived from prediction models. Biases and variances of the estimators are studied for a case in which the reference period index weights are unknown for nonsample items. Under a model for a one-period price change in which items have common within-stratum means, unbiased estimators can be constructed, but under a more general regression model, special sample balance conditions are needed for unbiasedness of those estimators. The theory for the estimators of fixed-base indexes is illustrated in an empirical study using a population of items priced for the U.S. Consumer Price Index.     

Indexing the Federal Tax System: A Cost-of-Living Approach

In this article, we analyze the indexation of federal taxes, using an approach based on cost-of-living measurement. We use our Tax and Price Index methodology and data base to study an indexed system historically, comparing indexation with the Consumer Price Index (CPI) to actual tax policy, a tax system with constant parameters, and an “exact” indexing scheme. We reach three main conclusions: (a) The sequence of tax reductions implemented between 1967 and 1985 have fallen short of mimicking indexation, (b) wealthier households would have benefited relatively more than lower-income households from indexation, and (c) CPI indexation would not have completely eliminated bracket creep.     

CPI之GEKS指数序列更新方法及窗口长度选择问题辨析

大数据来源下CPI指数的创新编制,对及时了解新经济时代的物价走向和识别通胀危机、预测宏观经济拐点以实现我国通胀治理现代化、推动经济平稳和高质量发展具有重大意义。GEKS多边指数是近些年国际学术界重点研发的大数据热点价格指数,但其构造方法颇具争议。借助超市扫描大数据,就GEKS指数序列更新方法、窗口长度选择等学界难题开展理论与实证研究,获得了以下富有启发性的结论:①GEKS指数序列更新方法2、3应用效果相对较差;②随着窗口长度的增加,GEKS环比价格指数会趋于单位值,不同更新方法下的GEKS链式指数也会呈现一定的趋同性;而GEKS指数的通胀趋势判断力却不受此影响,但更新方法的选择却会导致其不同的通胀趋势预测结果;③更新方法4会随着窗口长度的增加而呈现更强的替代偏误,方法1却没有出现明显的替代偏误。综合而言,更新方法1和13个月窗口长度应该是编制GEKS指数序列更为合理的组合方式。     

It’s about the process,not the result: An fMRI approach to explore the encoding of explicit and implicit price information

This research examines the neurophysiological correlates of consumers’ price memory processes. We focus on the explicit and implicit dimensions of consumers’ price knowledge and use an experimental functional Magnetic Resonance Imaging (fMRI) study to assess how the encoding of task-dependent price memory affects the choice process and neural activation. The findings of our study add to the field of consumer neuroscience by demonstrating how neural correlates of explicit and implicit task-dependent price memory can shed light on processes that guide consumer decision-making. Over the course of our experiment we found that consumers did not always make consistent decisions, but that their decisions were influenced by explicit components of price memory. Implicit price memory components seem to have a more supportive role in the decision-making process. In summary, we found that price memory is a dynamic construct that is influenced by unconscious and neurophysiological processes, and we conclude that a neurophysiological perspective can add value for consumer and marketing research.     

Effects of Leader Support in the Work Unit on the Relationship Between Work Spillover and Family Adaptation

This study examines the direct versus the buffering effect of leader support in the work unit on the relationship between work spillover and family adaptation. The analyses use data from a probability sample of 3,190 married soldiers in the U.S. Army who participated in the 1989 Army and Family Survey, and the data are analyzed by the gender of the respondent. Two types of work spillover are examined in the analysis (energy and time interference), and both internal and external types of family adaptation are hypothesized and supported by the empirical analysis. Only modest support is found for the buffering effect hypothesis. In support of the direct effect hypothesis, the findings indicate that leader support in the work unit decreases perceptions of work spillover, which is a preventive effect, and enhances perceptions of external adaptation, which is a therapeutic effect.     

公用事业特许经营的政府监管研究

特许经营制度是公用事业市场化的主要实现形式,政府监管是公用事业特许经营法治化的重要内容。公用事业特许经营监管的基础是实现监管权的统一与独立。应从实体和程序两个方面完善特许权授予的监管。建立科学合理的价格模型及周期性审查和调整是公用事业特许经营价格监管的核心。公用事业特许经营质量监管的主要内容是督促建立内部质量管理制度、制定可量化的标准及建立质量检验体系。政府监管应推动公用事业的网络化普及、排除歧视性及完善补偿机制,以确保特许经营项目履行普遍服务。此外,必须加强对公用事业特许经营政府监管的监管制度建设。     

论工资率提高、通货膨胀与人民生活水平的改善——基于合肥市的实证研究

工资和物价水平是关乎民生的两个重要研究课题,稳定物价水平也是宏观经济政策的重要内容之一。随着国内物价水平不断上涨,通货膨胀预期不断递增,缓解人民生活压力和改善人民生活水平已经成为当前宏观调控的主要任务。对于通货膨胀的解释历来存在需求拉动型和成本推动型之争,对通货膨胀的不同解释意味着不同的宏观经济政策选择。利用构建联立方程组模型,将工资率和通货膨胀纳入同一个分析框架,模拟分析工资率与价格水平的之间关系。基于合肥市各部门相关数据的模拟结果显示,提高工资率和通货膨胀之间有一定的相关关系,这意味着通货膨胀包含工资成本推动因素,但是,模拟结果还显示工资的提高对经济发展的促进作用大于对价格的推动作用。     

城市家庭子女对父辈的养老支持分析--苏南四城市老年人生活状况调查

家庭养老是中国传统的养老方式,随着我国经济和社会的发展,传统的养老模式发生了变化,现在到底是怎样的状况?通过分析城市家庭中子女在父辈养老过程中对父辈的经济支持、生活照料和情感支持状况,可以发现,居家养老是现阶段城市老年人养老的主要形式,子女在父辈的养老过程中主要发挥了情感支持和生活照料的作用,经济支持方面则表现为社会保障(退休金)支持下的老年人的自养.