9/3/2023 0 Comments Glims pharm![]() An empirical analysis of latitude of price acceptance in consumer package goods. MIT Sloan School Working Paper # 3038-89, MIT Marketing Center Working Paper 89-5. ![]() A price response model developed from perceptual theories. Prospect theory: An analysis of decision under risk. Subjective probability: A judgment of representativeness. Empirical generalizations in the modeling of consumer choice. Modelling travellers’ risky choice in a revealed preference context: A comparison of EUT and non-EUT approaches. Allowing for heterogeneous decision rules in discrete choice models: An approach and four case studies. Should reference alternatives in pivot design SC surveys be treated differently Environmental and Resource Economics, 42, 297–317. Non-compensatory (and compensatory) models of consideration-set decisions, Proceedings of the Sawtooth Software Conference, Delray Beach, FL. Consumer price sensitivity and price thresholds. Prospect theory in times of a pandemic: The effects of gain versus loss framing on risky choices and emotional responses during the 2020 coronavirus outbreak – evidence from the US and the Netherlands. Do professional traders exhibit myopic loss aversion An experimental analysis. Transportation Research Record, 1985(1), 78–87. Modeling individuals’ frequency and time allocation behavior for shopping activities considering household-level random effects. Journal of Economic Dynamics and Control, 32(10), 3253–3274. Loss aversion and seller behavior: Evidence from the housing market. Enhancing the efficacy of teacher incentives through loss aversion: A field experiment (NBER Working Paper No. International Economic Review, 10(1), 1–21. The adjustment of stock prices to new information. Understanding reference-price shoppers: A within and cross-category analysis. Nominal loss aversion, housing equity constraints, and household mobility: Evidence from the United States. The use of nonlinear, noncompensatory models in decision making. European Journal of Transport and Infrastructure Research, 11(2), 194–218.Įinhorn, H. Stochastic user equilibrium and value-of-time analysis with reference-dependent route choice. A mathematical reformulation of the reference price. Asymmetric promotion effects and brand positioning. Journal of Consumer Research, 24(2), 202–214.īronnenberg, B. A comparative analysis of reference price models. A., Krishnamurthi, L., Mazumdar, T., & Raj, S. Loss aversion and anchoring in commercial real estate pricing: Empirical evidence and price index implications. The Quarterly Journal of Economics, 110(1), 73–92.īokhari, S., & Geltner, D. Myopic loss aversion and the equity premium puzzle. Journal of Economic Perspectives, 27(1), 173–196. Thirty years of prospect theory in economics: A review and assessment. Stocks as lotteries: The implications of probability weighting for security prices. Mental accounting, loss aversion, and individual stock returns. Three, an accuracy nudge increases the flow of accurate information and attenuates the false information. Two, instead of closing, opening, and closing again, it is better to keep the economy (and schools/colleges) closed for a longer time period so that it does not have to be closed again. ![]() One, we find that framing matters in increasing the effectiveness of the mandates: exposure to gain frames yielded more support. Specifically, we examine the framing of the non-pharmacological mandates, the applicable models for closing and re-opening decisions, and methods to increase the odds of diffusion of accurate information. We also briefly present applications of these theories to consumer, financial, and product markets, and to public policy decisions.įinally, we discuss the application of these three theories to management of the current pandemic (COVID-19) situation, including strategizing and communicating productively. In this article, we present three important behavioral/cognitive theories: Prospect theory, mental accounting, and nudge theory.
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