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Economies of scope in direct utility models exist when consumers encounter costs and inconvenience in purchase and consumption. Travel time, product acquisition, training, expertise, and skills are examples of factors that impact the ability of consumers to derive utility from offerings beyond...
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A symmetric complements refer to goods where one good is more dependent on the other, yet consumers receive enhanced utility from consuming both. Examples include garden hoses and sprinklers, chips and dip, and routine versus personalized services where the former has a broader base for utility...
Persistent link: https://www.econbiz.de/10013075755
This paper investigates the role of the outside good utility function on admissible substitution patterns in multiple discrete/continuous demand models. We first present a set of novel results that characterize the functional form of quantity price effects within this class of models. The...
Persistent link: https://www.econbiz.de/10014240363
Market basket data reflect purchases from multiple product categories, some of which are complements and others that are substitutes. Consumers are more likely to make joint purchases from categories that are complements, and less likely to make joint purchases from categories that are...
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This paper investigates the role of the outside good utility function on admissible substitution patterns in direct utility models of discrete/continuous demand. We first present a set of novel results that characterize the functional form of price effects within this class of models. The...
Persistent link: https://www.econbiz.de/10012841462
Persistent link: https://www.econbiz.de/10012303194
This paper examines the effect of message characteristics on donation behavior using an economic model of giving. The utility of giving can come from one's own contribution and possibly from the combined contributions of others. Donors are assumed to be constrained utility maximizers, and the...
Persistent link: https://www.econbiz.de/10012116512
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