Showing 1 - 10 of 23
Persistent link: https://www.econbiz.de/10010865687
This paper provides insights into the dynamics of attention to TV commercials via an analysis of the length of time that commercials are viewed before being 'zapped'. The model, which incorporates a flexible baseline hazard rate and captures unobserved heterogeneity across both consumers and...
Persistent link: https://www.econbiz.de/10005639724
The notion that individuals have an internal reference price against which they compare observed prices is well supported by several psychological theories. Empirically, several papers in the marketing literature, employing scanner panel data, have modeled the impact of reference prices on brand...
Persistent link: https://www.econbiz.de/10008787764
We present a conceptual framework to describe the commercial zapping phenomenon and use it to identify factors that influence channel switching during commercials. Drawing on previous research, published reports of practitioner gut feel, interventions used by advertisers to reduce channel...
Persistent link: https://www.econbiz.de/10008788188
We investigate whether the first digit of an odometer reading is more salient to consumers than subsequent digits. We find that retail transaction prices and volumes of used vehicles drop discontinuously at 10,000-mile odometer thresholds, echoing effects found in the wholesale market by...
Persistent link: https://www.econbiz.de/10010785627
Persistent link: https://www.econbiz.de/10010865205
Using a large dataset of automobile transaction prices, we find that offline African-American and Hispanic consumers pay approximately 2% more than do other offline consumers; however, we can explain 65% of this price premium with differences in observable traits such as income, education, and...
Persistent link: https://www.econbiz.de/10010865206
Projection bias is the tendency to overpredict the degree to which one's future tastes will resemble one's current tastes. We test for evidence of projection bias in two of the largest and most important consumer markets - the car and housing markets. Using data for more than forty million...
Persistent link: https://www.econbiz.de/10010951358
There is convincing evidence that the Internet has lowered the prices paid by some consumers in established industries, for example, term life insurance and car retailing. However, current research does not reveal much about how using the Internet lowers prices. This paper answers this question...
Persistent link: https://www.econbiz.de/10005084562
This paper addresses the question of how much the Internet lowers prices for new cars and why. Using a large dataset of transaction prices for new automobiles and referral data from Autobytel.com, we find that online consumers pay on average 1.2% less than do offline consumers. After controlling...
Persistent link: https://www.econbiz.de/10005575142