Background: E-commerce websites have been established expressly as useful online communication platforms, which is rather significant. Through them, users can easily perform online transactions such as shopping or ordering food and sharing their experiences or feedback. Objectives: Customers'...

Background: Customer segmentation has become one of the most innovative ways which help businesses adopt appropriate marketing campaigns and reach targeted customers. The RFM model and machine learning combination have been widely applied in various areas. Motivations: With the rapid increase of...

We show that updates to macroeconomic expectations among professional forecasters exhibit an offsetting pattern where increases in current-quarter predictions lead to decreases in three quarter ahead predictions. We further document evidence of individual overreaction at the quarterly frequency...

This is the story of the Princeton Wine Group, a group whose membership has been relatively constant for almost 40 years. This group has enjoyed 244 blind tastings involving 1,708 different wines. A statistical analysis was performed at each tasting examining whether participants ranked the...

Markets undergoing fast-paced product evolution impose a significant informational demand on consumers. They may have to decide among relatively heterogeneous offers while lacking the knowledge required for a fully assessed choice of suppliers. In this case, one important information source is...

An Agent-Based Model (ABM) accounting for tax-morale and loss-aversion was implemented over different network systems with social interactions at the local level to study the phenomenon of tax evasion. This ABM is an innovative model which integrates endogenous characteristics of heterogeneous...

This paper extends Carroll's (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to non-concave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable...

The paper is based on the acknowledgement that properties of markets stemming from features of demand are too frequently overlooked in the economic literature, and a re-balancing is necessary to properly account for theoretical and empirical phenomena. We sustain that one of the most relevant...