Price promotions effects of virtue and vice products

Purpose: This paper aims to propose models that capture the own effect of price promotions of virtue and vice products on sales and cross effects within the subcategory, between subcategories and between periods. The hypotheses assume that, due to reverse consumption self-control, the demand for vice products is more price-sensitive than demand for virtue products, but the demand for vice products is less price-sensitive between periods than demand for virtue products; furthermore, due to the degree of impulse-buying and to licensing, the demand sensitivity of the products of a subcategory and of those of other subcategories varies according to the type of promoted product (vice or virtue). Design/methodology/approach: The methodology is based on different econometrical models that estimate the total net effect of price promotions of virtue and vice products on sales. Findings: The results show a greater own effect for price promotions of vice products than for virtue products. However, the complementary sales effect between subcategories for virtue products facilitates greater expansion of the subcategory in virtue products than in vice products. Originality/value: Although price promotions of virtue products (light) and vice products (regular) have proliferated in recent years, researchers have only estimated their own sales effect. Alternatively, the paper contributes by considering own and cross effects.

Pulsar timing irregularities and the imprint of magnetic field evolution

Context. The rotational evolution of isolated neutron stars is dominated by the magnetic field anchored to the solid crust of the star. Assuming that the core field evolves on much longer timescales, the crustal field evolves mainly though Ohmic dissipation and the Hall drift, and it may be subject to relatively rapid changes with remarkable effects on the observed timing properties. Aims. We investigate whether changes of the magnetic field structure and strength during the star evolution may have observable consequences in the braking index n. This is the most sensitive quantity to reflect small variations of the timing properties that are caused by magnetic field rearrangements. Methods. We performed axisymmetric, long-term simulations of the magneto-thermal evolution of neutron stars with state-of-the-art microphysical inputs to calculate the evolution of the braking index. Relatively rapid magnetic field modifications can be expected only in the crust of neutron stars, where we focus our study. Results. We find that the effect of the magnetic field evolution on the braking index can be divided into three qualitatively different stages depending on the age and the internal temperature: a first stage that may be different for standard pulsars (with n ~ 3) or low field neutron stars that accreted fallback matter during the supernova explosion (systematically n < 3); in a second stage, the evolution is governed by almost pure Ohmic field decay, and a braking index n > 3 is expected; in the third stage, at late times, when the interior temperature has dropped to very low values, Hall oscillatory modes in the neutron star crust result in braking indices of a high absolute value and both positive and negative signs. Conclusions. Current magneto-thermal evolution models predict a large contribution to the timing noise and, in particular, to the braking index, from temporal variations of the magnetic field. Models with strong (≳ 1014 G) multipolar or toroidal components, even with a weak (~1012 G) dipolar field are consistent with the observed trend of the timing properties.

The effect of innovation on hotel market value

The purpose of this article is to analyze the effect of hotel innovations on firm value. Specifically, this study fills a research gap in the previous literature by examining this effect through market value and by distinguishing the potentially different impacts of distinct innovation types: product, process, organization and marketing. This research contributes to consolidating the empirical evidence of hotel innovation and performance by analyzing whether distinct types of innovation lead to different levels of results. The findings show that innovations are perceived to have a positive impact on the future sales of the company: in a four-day period (0,+3), there is an increase in stock exchange returns of 1.53%. In terms of innovation types, process and marketing innovations are found to have a higher positive effect on hotel market value than product and organization innovations; which is explained by potential cost differences among innovations.