منابع مشابه
Overconfident Consumers in the Marketplace
W hen consumers sign contracts, expectations about future usage of the product or service matter. For instance, the value provided by car insurance depends on how likely a consumer believes she is to file a claim; the value provided by a gym membership depends on how often a consumer anticipates going to the gym; and the value provided by a cellular phone contract depends on how many gigabytes ...
متن کاملSelling to Overconfident Consumers
Firms commonly offer three-part tariffs, or menus of three-part tariffs, in a variety of contexts. A three-part tariff consists of a fixed fee, an included allowance of units for which the marginal price is zero, and a positive marginal price for additional usage beyond the allowance. A prime example is the US cellular phone services market in which firms typically offer consumers plans consist...
متن کاملConsumers’ Understanding of Privacy Rules in the Marketplace
Studies suggest the general structure of Web sites leads consumers away from demanding that online merchants take certain approaches to privacy as a condition for dealing with them. This article presents findings from a nationally representative survey showing that the absence of such a privacy marketplace can also be attributed to the public’s incomplete knowledge of privacy regulations. Most ...
متن کاملThe Ketchup Marketplace : Retailer , Manufacturers , and Individual Consumers ∗
We construct a model of a local ketchup market of a city in Texas that accounts for household, manufacturer, and retailer decisions. That is, the model develops both the demand and the supply side of the market. The demand side is modeled through a latent utility framework allowing for the ‘no-purchase’ option. Accounting for both sides of the market allows one to check for any endogeneity prob...
متن کاملConsumers' Repurchase Probability in Online Marketplace: A Belief Updating Perspective
It is commonly recognized that online transactions are “one-shot” transactions. However, a contemporary dataset from a dominant online marketplace in China reveals that averagely 24.3% transactions are repurchase transactions. Given that consumers already have purchase experience with a specific seller, their repurchase behavior may be influenced by both the seller’s reputation and their percei...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 2015
ISSN: 0895-3309
DOI: 10.1257/jep.29.4.9