What Price Social and Health Care? Commodities, Competition and Consumers

In this paper we explore some important disputes and problems surrounding the legal status and social purpose of Health

Price Delegation in Sales Organizations: An Empirical Investigation

The allocation of decision rights is an integral component of designing organizational architecture. Economists have long understood the importance of co-locating decision rights with the knowledge that is valuable to those decisions. Following this prescription, marketing scholars have developed strong theoretical arguments in favor of delegating pricing authority to the sales force. Empirical work, however, reveals a significant number of sales organizations yielding only minimal authority to their salespeople. Given this divergence between theory and practice, we develop and empirically test two mitigating factors that could potentially explain why firms restrict pricing authority. We test our hypotheses on a sample of 222 German sales organizations and find that the data are generally consistent with our conceptualization.

Characterizing full-body reach duration across task and viewpoint modalities

The full-body control of virtual characters is a promising technique for application fields such as Virtual Prototyping. However it is important to assess to what extent the user full-body behavior is modified when immersed in a virtual environment. In the present study we have measured reach durations for two types of task (controlling a simple rigid shape vs. a virtual character) and two types of viewpoint (1st person vs. 3rd person). The paper first describes the architecture of the motion capture approach retained for the on-line full-body reach experiment. We then present reach measurement results performed in a non-virtual environment. They show that the target height parameter leads to reach duration variation of ∓25% around the average duration for the highest and lowest targets. This characteristic is highly accentuated in the virtual world as analyzed in the discussion section. In particular, the discrepancy observed for the first person viewpoint modality suggests to adopt a third person viewpoint when controling the posture of a virtual character in a virtual environment.

Tariff-Specific Preferences and Their Influence on Price Sensitivity

For many services, consumers can choose among a range of optional tariffs that differ in their access and usage prices. Recent studies indicate that tariff-specific preferences may lead consumers to choose a tariff that does not minimize their expected billing rate. This study analyzes how tariff-specific preferences influence the responsiveness of consumers’ usage and tariff choice to changes in price. We show that consumer heterogeneity in tariff-specific preferences leads to heterogeneity in their sensitivity to price changes. Specifically, consumers with tariff-specific preferences are less sensitive to price increases of their preferred tariff than other consumers. Our results provide an additional reason why firms should offer multiple tariffs rather than a uniform nonlinear pricing plan to extract maximum consumer surplus.

Target Price Accuracy

This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown) 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio). However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.