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Raluca CIORNEA,Marius D. POP,Mihai F. BACILA,Alexandra M. DRULE (TIRCA)
Management & Marketing , 2012,
Abstract: The first questions that all scientists address when approaching a new domain are related to how well studied is the field, who and what has studied. The answers help them establish their personal areas of interest and contribution. Thus in order to help the authors concerned with the luxury domain we decided to conduct a secondary marketing research and the main purpose was to identify the studies and the trends in research in the area of marketing of luxury goods and their degree of approach, before 2005. The present study is only a part of a complex research that approaches the entire evolution in luxury research field, but due to space limitation papers were separated in two: the evolution before 2005 and the evolution after 2005. Unique by its theme, this paper is intended to be ambitious by analysing all the luxury materials to which had access the authors The results confirmed the previous statement of some authors that luxury was little researched comparing to other domains.
Counterfeit Luxury Goods Online: An Investigation of Consumer Perceptions  [cached]
Anita Radon AR
International Journal of Marketing Studies , 2012, DOI: 10.5539/ijms.v4n2p74
Abstract: This paper looks into why consumers choose to purchase counterfeits online and if and how this affects brand image. It seeks to explain what it is that is prevailing in choosing to purchase counterfeit merchandise online as oppose to genuine merchandise or generic goods online as well as through traditional distribution channels. Online interviews with consumers of counterfeit merchandise have been conducted. Findings: The interviews have shown that the most important factors that consumers of counterfeit merchandise online consider are conspicuous value and price. This paper also shows how luxury brands own websites can be a liability adding in online fake sales. This paper only explores actual consumers of counterfeit merchandise; a further study should focus on online consumers of genuine goods and their perceptions toward online sales of counterfeits.
“All the good and nothing less”: Consumption of Luxury Goods among the bottom of the pyramid  [PDF]
Danielle Soutilha de Souza,Eduardo André Teixeira Ayrosa,Isabel Balloussier Cerchiaro
Revista Sociedade, Contabilidade e Gest?o , 2013,
Abstract: The Brazilian middle class has undergone significant growth in recent years accounting for 52% of the population. Precisely because of this phenomenon, we became interested in this research that is focused on women living in Rio de Janeiro. Although there are many recent research in marketing about the consumer habits of this class, mainly due to the increase in their purchasing power, the particularities of the various groups within this large mass and how they behave in face of consumption expected from social elites, such as luxury goods was under explored. This research aims to contribute to a more detailed exploration on this population. In order to observe the production of knowledge and the process of identity construction of women surveyed, the theme was the consumption of luxury goods. Three categories are presented relevant: Luxury, Luxury at Day by Day and Dream and Consumption, which bring distinct and complementary information for a better understanding of the analyzed group. Although traditional theories about luxury present social status, differentiation and hedonism as main reasons for the consumption of these objects, other relevant aspects were observed for this type of consumer, the family being the great arena where most of the social and economic relations happen. The research also shows the development of a peculiar look to fashion by the study group being key to understanding what is luxury. The results of this study show the richness of practices and meanings of consumption within the same group and the importance of a qualitative look for academics and managers in the field of marketing to really understand the phenomena of consumption in modern societies, especially societies that are having a great social and economic development as Brazil.
Equilibrium Pricing of Semantically Substitutable Digital Goods  [PDF]
Kamal Jain,Vijay Vazirani
Computer Science , 2010,
Abstract: The problem of arriving at a principled method of pricing goods and services was very satisfactorily solved for conventional goods; however, this solution is not applicable to digital goods. This paper studies pricing of a special class of digital goods, which we call {\em semantically substitutable digital goods}. After taking into consideration idiosyncrasies of goods in this class, we define a market model for it, together with a notion of equilibrium. We prove existence of equilibrium prices for our market model using Kakutani's fixed point theorem. The far reaching significance of a competitive equilibrium is made explicit in the Fundamental Theorems of Welfare Economics. There are basic reasons due to which these theorems are not applicable to digital goods. This naturally leads to the question of whether the allocations of conventional goods are rendered inefficient or "socially unfair" in the mixed economy we have proposed. We prove that that is not the case and that in this sense, the intended goal of Welfare Economics is still achieved in the mixed economy.
Literature Review on Importing Tax Policy of China’s Luxury Goods  [PDF]
Danyang Sun
Modern Economy (ME) , 2018, DOI: 10.4236/me.2018.93033
Abstract: Since China’s reform and opening up, China’s economic level has improved significantly and obtained a fast steady development; residents disposable income has increased rapidly. Based on the economic growth, the rich people quickly emerge and have a strong desire for luxury consumption. But at the same time, the outflow of luxury goods’ consumption in China is serious. After entering into the “new normal”, China has become the country which obtained the largest luxury goods consumption in the world. It also become
Lack of basic and luxury goods and health-related dysfunction in older persons; Findings from the longitudinal SMILE study
Dani?lle AI Groffen, Hans Bosma, Marjan van den Akker, Gertrudis IJM Kempen, Jacques TM van Eijk
BMC Public Health , 2008, DOI: 10.1186/1471-2458-8-242
Abstract: Cross-sectional and longitudinal data from 2067 men and women aged 55 years and older who participated in the Study on Medical Information and Lifestyles Eindhoven (SMILE) were gathered. Logistic regression analyses were used to study the relation between a lack of basic and luxury goods and health-related function, assessed with two sub-domains of the SF-36.The lack of basic goods was closely related to incident physical (OR = 2.32) and mental (OR = 2.12) dysfunction, even when the traditional measures of socioeconomic status, i.e. education or income, were taken into account. Cross-sectional analyses, in which basic and luxury goods were compared, showed that the lack of basic goods was strongly associated with mental dysfunction. Lack of luxury goods was, however, not related to dysfunction.Even in a relatively wealthy country like the Netherlands, the lack of certain basic goods is not uncommon. More importantly, lack of basic goods, as an indicator of wealth, was strongly related to health-related dysfunction also when traditional measures of socioeconomic status were taken into account. In contrast, no effects of luxury goods on physical or mental dysfunction were found. Future longitudinal research is necessary to clarify the precise mechanisms underlying these effects.Adverse socioeconomic circumstances affect probabilities of good health and risks of disease [1,2]. Less clear is whether this also holds for older populations of whom many are retired and not in the paid labour force anymore [3,4]. In such populations, wealth may be a more valid indicator of socioeconomic ranking than the traditional indicators of socio-economic status, such as education and income. Wealth refers to the individual's or household's total financial resources amassed over the course of life [5]. Hence, the cumulative character of wealth might be important, particularly among older persons because of such life course effects. Furthermore, through being wealthy or not, socioeconomi
Pricing Public Goods for Private Sale  [PDF]
Michal Feldman,David Kempe,Brendan Lucier,Renato Paes Leme
Computer Science , 2013,
Abstract: We consider the pricing problem faced by a seller who assigns a price to a good that confers its benefits not only to its buyers, but also to other individuals around them. For example, a snow-blower is potentially useful not only to the household that buys it, but also to others on the same street. Given that the seller is constrained to selling such a (locally) public good via individual private sales, how should he set his prices given the distribution of values held by the agents? We study this problem as a two-stage game. In the first stage, the seller chooses and announces a price for the product. In the second stage, the agents (each having a private value for the good) decide simultaneously whether or not they will buy the product. In the resulting game, which can exhibit a multiplicity of equilibria, agents must strategize about whether they will themselves purchase the good to receive its benefits. In the case of a fully public good (where all agents benefit whenever any agent purchases), we describe a pricing mechanism that is approximately revenue-optimal (up to a constant factor) when values are drawn from a regular distribution. We then study settings in which the good is only "locally" public: agents are arranged in a network and share benefits only with their neighbors. We describe a pricing method that approximately maximizes revenue, in the worst case over equilibria of agent behavior, for any $d$-regular network. Finally, we show that approximately optimal prices can be found for general networks in the special case that private values are drawn from a uniform distribution. We also discuss some barriers to extending these results to general networks and regular distributions.
A Recommendation-Based Pricing System for Information Goods Versioning  [cached]
Wei-Lun Chang,Soe-Tsyr Yuan
Journal of Computers , 2007, DOI: 10.4304/jcp.2.9.67-76
Abstract: Information goods versioning is an essential and emerging topic of information goods pricing. Myriad researchers have devoted considerable attention to developing and testing methods in terms of versioning. Nevertheless, in addition; there are still certain shortcomings as the challenges to be overcome. This study encompasses the software maintenance concept (mean error rate) to develop a recommendation-based system which maintains the profits automatically with recommendations. The present paper also proposes economic model and algorithm to prove the feasibility with certain contributions: (1) provides an automatic system to maintain the profits, (2) deliberates the recommendations from knowledge base, and (3) offers an appropriate recommendation to versioning strategy.
Optimal (Under-)Pricing and Allocation of Publicly Provided Goods  [PDF]
David Scrogin
Theoretical Economics Letters (TEL) , 2017, DOI: 10.4236/tel.2017.74049
Abstract: This paper exploits the links between a private value distribution’s hazard rate, mean residual value, and eta functions in order to characterize posted-price rules for a public agency to allocate scarce units of an indivisible good under the utilitarian distributional objective of maximizing expected consumer surplus. Sufficient conditions on the monotonic and non-monotonic classes of the functions are established that identify either market assignment at the clearing price or lottery assignment with partial or complete under-pricing as the optimal allocation mechanism. The results are summarized across a wide range of parametric value distributions, and selected non-monotonic cases are evaluated numerically to determine the relative scarcity or abundance of the good necessary for market or non-market assignment to dominate.
Symmetry restoration by pricing in a duopoly of perishable goods  [PDF]
Su Do Yi,Seung Ki Baek,Guillaume Chevereau,Eric Bertin
Quantitative Finance , 2015, DOI: 10.1088/1742-5468/2015/11/P11001
Abstract: Competition is a main tenet of economics, and the reason is that a perfectly competitive equilibrium is Pareto-efficient in the absence of externalities and public goods. Whether a product is selected in a market crucially relates to its competitiveness, but the selection in turn affects the landscape of competition. Such a feedback mechanism has been illustrated in a duopoly model by Lambert et al., in which a buyer's satisfaction is updated depending on the {\em freshness} of a purchased product. The probability for buyer $n$ to select seller $i$ is assumed to be $p_{n,i} \propto e^{ S_{n,i}/T}$, where $S_{n,i}$ is the buyer's satisfaction and $T$ is an effective temperature to introduce stochasticity. If $T$ decreases below a critical point $T_c$, the system undergoes a transition from a symmetric phase to an asymmetric one, in which only one of the two sellers is selected. In this work, we extend the model by incorporating a simple price system. By considering a greed factor $g$ to control how the satisfaction depends on the price, we argue the existence of an oscillatory phase in addition to the symmetric and asymmetric ones in the $(T,g)$ plane, and estimate the phase boundaries through mean-field approximations. The analytic results show that the market preserves the inherent symmetry between the sellers for lower $T$ in the presence of the price system, which is confirmed by our numerical simulations.
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