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Articles 1 - 8 of 8
Full-Text Articles in Sales and Merchandising
The Joy Of Shopping: Thrill Of The Treasure Hunt, Jane Gu, Cristina Nistor, Matthew Selove
The Joy Of Shopping: Thrill Of The Treasure Hunt, Jane Gu, Cristina Nistor, Matthew Selove
Business Faculty Articles and Research
People sometimes enjoy the thrill of the hunt, which implies search can generate joy in addition to costs. Some customers say they enjoy searching for unique items such as vintage T-shirts and luxury handbags, and managers at warehouse stores, thrift stores, and many online selling platforms say they design their store format to offer a treasure hunt experience. We develop a model in which customers enjoy searching for a treasure. Our model’s search utility function includes a term based on the treasure’s net value, a term based on the instantaneous likelihood of discovering treasure, and a constant term reflecting other …
Institutional Liquidity Costs, Internalized Retail Trade Imbalances, And The Cross Section Of Stock Returns, Yashar H. Barardehi, Dan Bernhardt, Zhi Da, Mitch Warachka
Institutional Liquidity Costs, Internalized Retail Trade Imbalances, And The Cross Section Of Stock Returns, Yashar H. Barardehi, Dan Bernhardt, Zhi Da, Mitch Warachka
Business Faculty Articles and Research
Order flow segmentation prevents direct interactions between U.S. retail and institutional investors. Using the imbalance in observable internalized retail trades, we show wholesalers use retail flow to provide liquidity to institutional investors, especially when liquidity is scarce. Our institutional liquidity cost () measures average absolute retail trade imbalances, positing that institutions holding stocks with greater such averages more often resort to the expensive wholesaler-provided liquidity. is correlated with expected institutional price impacts. Unlike existing illiquidity measures, has economically meaningful relations with institutional holding horizons and yields annualized liquidity premia of 2.7%–3.2% post-2010, even after excluding microcap stocks.
Provision Of Helpful Review Videos: Effects Of Video Characteristics On Perceived Helpfulness, Kyungmin Park, Stephanie Lee, Shahryar Doosti, Yong Tan
Provision Of Helpful Review Videos: Effects Of Video Characteristics On Perceived Helpfulness, Kyungmin Park, Stephanie Lee, Shahryar Doosti, Yong Tan
Business Faculty Articles and Research
With the rapid growth and popularity of YouTube, an increasing number of consumers rely on online product review videos to obtain product-related information. As the provision of online review videos grows and consumers increasingly rely on them for their purchase decisions, understanding factors that contribute to the perceived helpfulness of video reviews becomes critical for video review management. This paper examines how various visual and vocal characteristics of online review videos are associated with the perceived helpfulness of videos. We collect detailed observational data on 13,840 electronic product review videos posted on YouTube and employ video content analysis, speech recognition, …
Together We Stand: The Solidarity Effect Of Personized Sellers On Essential Workers, Katina Kulow, Kara Bentley, Priyali Rajagopal
Together We Stand: The Solidarity Effect Of Personized Sellers On Essential Workers, Katina Kulow, Kara Bentley, Priyali Rajagopal
Business Faculty Articles and Research
The current research examines how products from personized sellers operate as a source of social support and solidarity for essential workers who are experiencing elevated levels of occupational stress since the advent of COVID-19. A series of experiments show that consumers who view themselves as essential workers prefer products from personized sellers (e.g., Etsy) compared to nonpersonized sellers (e.g., Amazon). These effects are driven by higher feelings of solidarity made salient by the personized seller. Our findings document a novel way by which consumers who are experiencing significantly high levels of occupational stress during the COVID-19 pandemic may seek social …
Dynamic Pricing With Fairness Concerns And A Capacity Constraint, Matthew Selove
Dynamic Pricing With Fairness Concerns And A Capacity Constraint, Matthew Selove
Business Faculty Articles and Research
Although some firms use dynamic pricing to respond to demand fluctuations, other firms claim that fairness concerns prevent them from raising prices during periods when demand exceeds capacity. This paper explores conditions in which fairness concerns can or cannot cause shortages. In our model, a firm announces a price policy that states its prices during high and low demand, and customers must travel to a venue to learn the current price. We show that the interaction of fairness concerns with travel costs can cause the firm to set stable prices, which leads to shortages during high demand. However, if the …
The Case For Showrooming, Cristina Nistor, Prashanth Nyer
The Case For Showrooming, Cristina Nistor, Prashanth Nyer
Business Faculty Articles and Research
Showrooming has deeply affected the retail market in the past decade. As consumers became able to easily compare prices on their mobile devices, they started using retail stores to try on and experience products and then they ordered online the lower priced versions they liked best to be delivered directly to their homes. As retailers are trying to adapt to the showrooming challenges and the shift to online purchases, stores are increasingly adopting showrooming as a new selling format. We present examples of successful showrooming and develop a framework for when the new selling format can be expected to be …
Herding And Anchoring In Macroeconomic Forecasts: The Case Of The Pmi, John B. Broughton, Bento J. Lobo
Herding And Anchoring In Macroeconomic Forecasts: The Case Of The Pmi, John B. Broughton, Bento J. Lobo
Business Faculty Articles and Research
We test if analysts display multiple biases in forecasting the Institute for Supply Management’s (ISM) manufacturing Purchasing Manager’s Index (PMI). We adopt a test that does not require knowledge of the forecaster’s prior information set and is robust to rational clustering, correlated forecast errors and outliers. We find that analysts forecast the PMI poorly and display multiple biases when forecasting. In particular, forecasters anti-herd and anti-anchor. Anti-herding supports a reputation-based notion that forecasters are rewarded not only for forecast accuracy but also for being the best forecast at a single point in time. Anti-anchoring is consistent with forecasters overreacting to …
Entrepreneurial Orientation As A Basis For Classification Within A Service Industry: The Case Of Retail Pharmacy Industry, Thanigavelan Jambulingam, Ravi Kathuria, William R. Doucette
Entrepreneurial Orientation As A Basis For Classification Within A Service Industry: The Case Of Retail Pharmacy Industry, Thanigavelan Jambulingam, Ravi Kathuria, William R. Doucette
Business Faculty Articles and Research
To date, service classification research has primarily taken a macro view, creating service typologies or taxonomies by using dimensions such as customer contact or degree of labor intensity. Such classification schemes, though helpful in deciphering critical management issues and positioning strategies between service industries, tend to treat an entire industry, such as airlines, as a single homogenous entity. However, organizations in the same industry often use intangible resources, such as entrepreneurial orientation processes, to compete with one another. Resource-advantage theory suggests that organizations utilize intangible resources to build long-term strategies and a sustainable competitive advantage leading to superior performance. We …