Download or read book Switching Costs and Quality Uncertainty written by Ambar Narayan and published by . This book was released on 2001 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Switching Costs Dynamic Uncertainty and Buyer Seller Relationships written by Nagesh Murthy and published by . This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze strategic relationships between buyers and sellers in markets with switching costs and dynamic uncertainty by investigating the scenario wherein a representative buyer trades with two foreign sellers located in the same foreign country. We show that, under exchange rate uncertainty, switching costs may lead to switching equilibria where both sellers co-exist in the market with the buyer, or no-switching equilibria where either seller captures the market. The presence of exchange rate uncertainty facilitates competition by allowing the sellers to co-exist in the market with the buyer. However, if the level of uncertainty is beyond a threshold, the only viable equilibria are those where one of the sellers captures the market. Further, depending on the level of exchange rate uncertainty and the sellers' variable costs, switching costs may either raise or lower the level of prices in long-term contracts between the buyer and the sellers.
Download or read book Two at the Top written by Thomas Gehrig and published by . This book was released on 2005 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Learning Switching Costs and Heterogeneity written by Matthew Osborne and published by BiblioGov. This book was released on 2013-06 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: I formulate an econometric model of consumer learning and experimentation about new products in markets for packaged goods that nests alternative sources of dynamics. The model is estimated on household level scanner data of laundry detergent purchases, and the results suggest that consumers have very similar expectations of their match value with new products before consumption experience with the good, but once consumers have learned their true match values they are very heterogeneous. I demonstrate that resolving consumer uncertainty about the new products increases market shares by 24 to 58%. The estimation results also suggest significant switching costs: removing switching costs increases new product market shares by 12 to 23%. Using counterfactual computations derived from the estimates of the structural demand model, I demonstrate that the presence of switching costs with learning changes the implications of the standard empirical learning model: the intermediate run impact of an introductory price cut on a new product's market share is significantly greater when the only source of dynamics is switching costs as opposed to when both learning and switching costs are present, which suggests that firms should combine price cuts with introductory advertising or free samples to increase their impact.
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book Customer Switching Costs and Its Correlates in the Turkish Credit Card Market written by Serkan Aydin and published by . This book was released on 2015 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, service quality, trust, corporate image and switching cost are mainly viewed as the primary determinants of repeat choice behavior. In the literature, according to many authors, switching costs have (1) financial switching cost, (2) procedural switching cost and (3) relational (psychological) switching cost. Each type also composed of multiple facets. The aim of this study is to determine customer switching costs the credit card market and to form a third-order measurement model and to examine the associations among switching cost., loyalty, service quality, trust and corporate image. Firstly we examined the concept of switching cost and determined all the facets. Secondly, the relationships among all the variables were analyzed by the confirmatory factor analysis (CFA). The findings from CFA show that the switching cost is explained by monetary loss, benefit loss, evaluation, learning, set-up, uncertainty and relationship loss cost. Also there is no significant association between customer loyalty and monetary loss and learning cost because of the competition in the Turkish credit card market. Uncertainty and relationship loss cost are associated with customer loyalty. On the other hand, the most important factors affecting customer loyalty are trust, perceived service quality and corporate image, respectively.
Download or read book Implications of Uncertainty Induced Implicit Switching Cost written by Michael Griebe and published by . This book was released on 2005 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 7 Powers written by Hamilton Helmer and published by . This book was released on 2016-10-25 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: 7 Powers details a strategy toolset that enables you to build an enduringly valuable company. It was developed by Hamilton Helmer drawing on his decades of experience as a strategy advisor, equity investor and Stanford University teacher. This is must reading for any business person and applies to all businesses, new or mature, large or small.
Download or read book Consumer Learning Switching Costs and Heterogeneity written by Matthew Osborne and published by . This book was released on 2007 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Uncertainty Advantage written by Gary S. Lynch and published by Archway Publishing. This book was released on 2017-01-12 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and uncertainty may sound scary, but todays best business leaders are navigating both to gain strategic advantage over competitorsand you can, too. This guide for business leaders examines risk and opportunity through the lens of some of the worlds most respected visionaries, including Howard Schultz, Andy Grove, Peter Huntsman, John Krafcik, Peter Leibinger, Doug Hepper, and many more. These visionaries looked beyond financial performance to see opportunitiesand they did so by understanding uncertainty. Then, they decisively acted to create measurable results that coincided with the future they envisioned. Find out how they did it, and learn how to: identify, define, and convert uncertainty into value; become more opportunistic when facing uncertainty; develop the skill to spot where advantages are likely to emerge; and create an environment where managers and leaders complement each other. Filled with case studies on companies such as Hyundai, Starbucks, Roche, and Intel, this guide delivers proven ways to create value and leverage uncertainty. It is the culmination of a decade of research and interaction with dozens of companies and growth leaders who prove that pursuing a market driven strategy to navigating uncertainty will gain measurable market advantage.
Download or read book The Influence of Buyer Switching Costs on Second sourcing Theoretical Analysis and Experimental Evidence written by Shantanu Dutta (PhD.) and published by . This book was released on 1990 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Do Switching Costs Make Markets Less Competitive written by Jean-Pierre Dubé and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conventional wisdom in economic theory holds that switching costs make markets less competitive. This paper challenges this claim. We find that steady-state equilibrium prices may fall as switching costs are introduced into a simple model of dynamic price competition that allows for differentiated products and imperfect lock-in. To assess whether this finding is of empirical relevance, we consider a more general model with heterogeneous consumers. We calibrate this model with data from a frequently purchased packaged goods market where consumers exhibit inertia in their brand choices, a behavior consistent with switching costs. We estimate the level of switching costs from the brand choice behavior in this data. At switching costs of the order of magnitude found in our data, prices are lower than without switching costs.
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Download or read book Competition when Consumers Have Switching Costs written by Paul Klemperer and published by . This book was released on 1992 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Information Technology written by Hal R. Varian and published by Cambridge University Press. This book was released on 2004-12-23 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Information Technology is a concise and accessible review of some of the important economic factors affecting information technology industries. These industries are characterized by high fixed costs and low marginal costs of production, large switching costs for users, and strong network effects. These factors combine to produce some unique behavior. The book consists of two parts. In the first part, Professor Varian outlines the basic economics of these industries. In the second part, Professors Farrell and Shapiro describe the impact of these factors on competition policy. The clarity of the analysis and exposition makes this an ideal introduction for undergraduate and graduate students in economics, business strategy, law and related areas.
Download or read book Theory of the Firm written by H. Albach and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has an objective and a focus. It provides the reader with: • an in-depth acquaintance with the theory of the firm developed by Erich Gutenberg • an insight into a coherent body of current German research in the theory of the firm. The book is divided into two parts. The first part lays the foundations. It presents Gutenberg's theory of the firm to the English speaking reader. Considering the great importance that Erich Gutenberg has had in Germany and taking into consideration the impact that the translations of his path-breaking three volumes "Principles of Management" have had in France, the Spanish speaking countries, and in Japan, it was felt that it was necessary, on the occasion of his tOOth anniversary, to present a concise summary of his contributions to the theory of the firm to an English speaking scientific community. Six papers present Gutenberg's theory in the light of the theoretical advances that he stimulated as well as in the framework of other theoretical developments like capital market theory, transaction cost theory, principal agent theory, and contract theory. The papers show that Gutenberg's theory is highly relevant for theory and highly influential in the practice of management.
Download or read book Bayesian Statistics and Marketing written by Peter E. Rossi and published by John Wiley & Sons. This book was released on 2012-05-14 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past decade has seen a dramatic increase in the use of Bayesian methods in marketing due, in part, to computational and modelling breakthroughs, making its implementation ideal for many marketing problems. Bayesian analyses can now be conducted over a wide range of marketing problems, from new product introduction to pricing, and with a wide variety of different data sources. Bayesian Statistics and Marketing describes the basic advantages of the Bayesian approach, detailing the nature of the computational revolution. Examples contained include household and consumer panel data on product purchases and survey data, demand models based on micro-economic theory and random effect models used to pool data among respondents. The book also discusses the theory and practical use of MCMC methods. Written by the leading experts in the field, this unique book: Presents a unified treatment of Bayesian methods in marketing, with common notation and algorithms for estimating the models. Provides a self-contained introduction to Bayesian methods. Includes case studies drawn from the authors’ recent research to illustrate how Bayesian methods can be extended to apply to many important marketing problems. Is accompanied by an R package, bayesm, which implements all of the models and methods in the book and includes many datasets. In addition the book’s website hosts datasets and R code for the case studies. Bayesian Statistics and Marketing provides a platform for researchers in marketing to analyse their data with state-of-the-art methods and develop new models of consumer behaviour. It provides a unified reference for cutting-edge marketing researchers, as well as an invaluable guide to this growing area for both graduate students and professors, alike.
