Satisfaction is a consumer post-purchase evaluation of the overall service experience. As an important determinant of customer loyalty and retention, firms exhibit most care to maintain customer satisfaction intact, unless it cannot be up-scaled. Middle East is known for its fancy towards...

Satisfaction is a consumer post-purchase evaluation of the overall service experience. As an important determinant of customer loyalty and retention, firms exhibit most care to maintain customer satisfaction intact, unless it cannot be up-scaled. Middle East is known for its fancy towards...

If producers have more information than consumers about goods’ attributes, then they may use non-price (rather than price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices remain sticky. We study a situation where producers adjust the quantity (per...

This paper uses a novel experimental design to study the effect of hypothetical personal experience on the adoption of a new insurance product in rural China. Specifically, we conduct a set of insurance games with a random subset of farmers. Our findings show that playing insurance games...

None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...

The paper presents an alternative interpretation of the experimental data published by Kahneman and Tversky in their 1992 study "Advances in Prospect Theory”, which describes the Cumulative version of their Prospect Theory from 1979. It was assumed that, apart from the operations made during...