Substitution decisions have been examined from a variety of perspectives. The economics literature measures cross-price elasticity, operations research models optimal assortments, the psychology literature studies goals in conflict, and marketing research has examined substitution-in-use, brand...

Consumers frequently choose substitutes for products that are out of stock, unavailable, too unhealthy, or too expensive. A series of studies shows that focusing on differences between the substitute and the unattained alternative reduces the consumer’s desire for the unattained alternative...

Nearly every decision a person makes is restricted in some way. While we are painfully aware of some of these restrictions, others go largely undetected. This paper presents a conceptual framework for understanding how restrictions interact with situational and individual characteristics, as...

Customer metrics help firms manage their performance and predict financial outcomes. While many firms focus on customer satisfaction metrics for this purpose, dual-process theories in psychology and neuroscience show that customer decisions are based on two processes. This suggests that metrics...

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...

The green revolution fulfilled the food demand of crowded millions. From the time of green revolution to till date high yielding and fertilizer responsive varieties have evolved to increase the production per unit area. To improve the productivity only major nutrients are concentrated almost in...