Reference prices have long been studied in applied economics and business research. One of the classic formulations of the reference price is in terms of an iterative function of past prices. There are a number of limitations of such a formulation, however. Such limitations include burdensome...

This paper uses individual level data to examine the influence of product reviews in different stages of the consumer’s purchase decision process. Specifically, a two-stage model consisting of consideration set formation and choice is posited, where the consumer can incorporate information...

The study examines the possible effects of a recent policy change in Greece on students’ graduation rates. Our study mainly concentrates on the potential impact that the reform may have on the various categories of students, as these are classified by the way they enter the university. Records...

Quantity discount pricing is a common practice used by business-to-business and business-to-consumer companies. A key characteristic of quantity discount pricing is that the marginal price declines with higher purchase quantities. In this paper, we propose a choice-based conjoint model for...

This study develops and estimates a dynamic model of consumer choice behavior in markets for seasonal goods, where products are sold over a finite season and availability is limited. In these markets, retailers often use dynamic markdown policies in which an initial retail price is announced at...

The formulation of hybrid discrete choice (HDC) models including both observable alternative attributes and latent variables associated with attitudes and perceptions has become a renewed topic of discussion in recent years. Even though there have been developments related to HDC model...

Empirical analyses of eco-innovation determinants have rarely been able to distinguish between different areas of environmental impact. The present paper tries to close this gap by employing a new and unique dataset based on the German Community Innovation Survey, conducted in 2009. The main...

This paper analyses the willingness to pay for electricity generated from renewable energy sources in Slovenia. The results confirm that age, household income, education and environmental awareness play the most important role in explaining household attitudes to green electricity programmes....

Since standard vehicles are powered by internal combustion mechanisms that rely on fossil fuels, electric vehicles that are propelled by one or more electric engines have been proposed as an alternative to promote sustainable personal transportation. In this paper we propose a general demand...