Price Dimensions Research Articles

The dynamics and dimensions of pricing

The dynamics and dimensions of pricing

User Experience and the Role of Personalization in Critiquing-Based Conversational Recommendation

Critiquing—where users propose directional preferences to attribute values—has historically been a highly popular method for conversational recommendation. However, with the growing size of catalogs and item attributes, it becomes increasingly difficult and time-consuming to express all of one’s constraints and preferences in the form of critiquing. It is found to be even more confusing in case of critiquing failures: when the system returns no matching items in response to user critiques. To this end, it would seem important to combine a critiquing-based conversational system with a personalized recommendation component to capture implicit user preferences and thus reduce the user’s burden of providing explicit critiques. To examine the impact of such personalization on critiquing, this article reports on a user study with 228 participants to understand user critiquing behavior for two different recommendation algorithms: (i) non-personalized , that recommends any item consistent with the user critiques; and (ii) personalized , which leverages a user’s past preferences on top of user critiques. In the study, we ask users to find a restaurant that they think is the most suitable to a given scenario by critiquing the recommended restaurants at each round of the conversation on the dimensions of price, cuisine, category, and distance. We observe that the non-personalized recommender leads to more critiquing interactions, more severe critiquing failures, overall more time for users to express their preferences, and longer dialogs to find their item of interest. We also observe that non-personalized users were less satisfied with the system’s performance. They find its recommendations less relevant, more unexpected, and somewhat equally diverse and surprising than those of personalized ones. The results of our user study highlight an imperative for further research on the integration of the two complementary components of personalization and critiquing to achieve the best overall user experience in future critiquing-based conversational recommender systems.

Detecting market bubbles: A generalized LPPLS neural network model

To enhance bubble detection capabilities, we introduce two significant improvements to the Log-Periodic Power Law Singularity (LPPLS) model: (1) a novel fitting approach, which yields more accurate predictions of critical price distributions within a single sample window; (2) a restructured neural network approach further enhances the estimations of the probability distributions of the critical points across both time and price dimensions, and it can be fine-tuned with real-world data. The simulation and practical applications to typical asset price bubbles in cryptocurrencies, commodities, and equity indices demonstrate that our refined model, the Generalized-LPPLS Neural Network (G-LPPLS-NN), outperforms all other models we examined in terms of predictive accuracy for critical point distributions.

Evaluating perceived value and expected value gaps based on patient experience during outpatient encounters: An empirical study in China

BackgroundImproving the quality of care relies on understanding patients' perceptions and expectations based on their experiences. The study aimed to determine the gaps between patients’ perceived value and expected value, and to identify critical areas for outpatient service improvement. MethodThis cross-sectional study was conducted in China from November 2020 to February 2021. A sample of 572 outpatients, randomly selected from a comprehensive tertiary public hospital, was surveyed using a validated patient perceived value questionnaire. Importance-performance analysis was used to evaluate the differences between patients' perceived and expected value. ResultsThe scores of patients’ expected value for outpatient services were significantly higher than their perceived value in all 29 items and 8 dimensions. The items with the highest and lowest gaps were “short waiting time” (−1.52) and “hospital reputation and popularity” (−0.24) respectively, and the dimensions of price and efficiency (functional value) were located in the quadrant of high expectation and low perception. ConclusionOur findings are useful for hospital administrators and policymakers to identify strategic focus areas and allocate resources rationally and effectively. We suggest healthcare providers should take measures to narrow the gaps, especially in terms of service efficiency and price.

THE INFLUENCE OF PRODUCT, PRICE, PLACE, PROMOTION, PEOPLE, PROCESS AND PHYSICAL EVIDENCE ON GENERAL PATIENT SATISFACTION IN THE INPATIENT UNIT OF THE ELIM HOSPITAL IN RANTEPAO, NORTH TORAJA REGENCY

This study aims to analyze the influence of product, price, place, promotion, people, process and physical evidence on general patient satisfaction in the inpatient unit of Elim Rantepao Hospital, North Toraja Regency. The population of this study is 15,798 general patients, of which 375 were taken as samples. The results of the analysis showed that there was a significant influence of the dimensions of Product, Price, Place, Promotion, People, Process, and Physical Evidence on General Patient Satisfaction in the Inpatient Unit of the hospital. The analysis also showed that the 7P Marketing Mix variable of the people dimension had the most influence on patient satisfaction at the hospital with an Exp value (3,395). The chi square p-value test of 0.747 0.05 was used to test the significance value of the dimension of Place on the overall satisfaction of general patients. This study is expected to provide benefits and can provide input from hospitals to improve the quality of hospital services and marketing.

Towards a Broader Approach to Competition and the Environment: Market Power and Environmental Disasters

Abstract This article explores the intersection between market power and the environment, based on a study of environmental disasters in Brazil and their relationship with the activities of dominant firms. It argues that a narrow focus on price dimensions of corporate behaviour limits the legal responses for addressing broader environmental concerns emerging from market power. This highlights the need for a broader approach to understanding the operation of major players and the resulting impact on the environment. The paper concludes by discussing the institutional implications of an integrated approach for diverse fields of law for addressing market power as a driver of environmental harm, emphasising the importance of structural remedies that transcend mere compensation of affected parties.

Adaptation and Validation of the Turkish Version of a Single-Item Food Choice Questionnaire

Objectives: The single-item Food Choice Questionnaire (FCQ) is a self-reported instrument with 11 dimensions to assess food choice motives alternative to the multi-item FCQ. This study aimed to examine the validity and reliability of a Turkish version of the questionnaire. Materials and Methods: In phase 1, forward-backwards translation, cognitive debriefing with thirty participants, and content validity with ten experts were carried out. In phase 2, the psychometric properties were evaluated through a cross-sectional survey. A total of 350 responses were analyzed for convergent validity by comparing dimensions of single-item and multi-item FCQs. The questionnaire was reposted after a month, and 50 re-administration data (11.4% retest rate) were examined for test-retest reliability. Results: The eight dimensions of single-item FCQ (health, mood, convenience, sensory, price, weight, and familiar) were correlated with corresponding factors in multi-item FCQ, ranged between 0.431 to 0.646. The three dimensions (environment friendliness, animal friendliness, and social justice) corresponding to a single factor regarding ethical concern in multi-item FCQ were analyzed separately and significantly correlated (0.569, 0.433, and 0.572 respectively). All correlations were statistically significant at p <0.001 significance level. The Pearson’s correlations of test-retest analysis ranged from r = 0.407 to 0.673 (p = 0.000). The intraclass correlation coefficient values ranged between 0.581 to 0.796, indicating moderate to good reliability for all dimensions. The sensory appeal, convenience, and price dimensions were the most crucial motives. Conclusion: The results indicate that the single-item FCQ is a valid alternative instrument in the Turkish population.

Ethical Considerations in AI-driven Dynamic Pricing in the USA: Balancing Profit Maximization with Consumer Fairness and Transparency

Organizations in the USA are progressively employing AI-driven dynamic pricing as a strategic intervention to flexibly modify their prices based on competition, market demand, and various other factors. This research paper focused on the ethical dimensions of AI-driven dynamic pricing and the crucial interplay between profitability and the establishment of unwavering consumer transparency and fairness. The recommended models for dynamic pricing solutions entailed ensemble learning methods, notably, XG-Boost, Light-GBM, Cat-Boost, and X-NGBoost models. Particularly, the proposed model consolidated the XG-Boost algorithm and the NG-Boost model, resulting in a novel methodology termed the X-NGBoost. To compare and contrast the performance of the proposed models, these algorithms were trained and subjected to the same dataset. The comparison between the models was mainly grounded on the root-mean-square error (RMSE) metric, which was quantified in meters. The results indicated that X-NGBoost had the lowest RMSE on both the testing and training sets, at 4.23 and 5.34 respectively. This indicated that X-NGBoost performed very well on both seen and unseen data. Therefore, from the outcomes it was deduced that, for the provided data set, the X-NGBoost model provided the accurate pricing solution.

Policy implications of heterogeneous demand reactions to changes in cost-sharing: Patient-level evidence from Austria

Cost-sharing is a prominent tool in many healthcare systems, both for raising revenue and steering patient behaviour. Although the effect of cost-sharing on demand for healthcare services has been heavily studied in the literature, researchers often apply a macro-perspective to these issues, opening the door for policy makers to the fallacy of assuming uniform demand reactions across a spectrum of different forms of treatments and diagnostic procedures. We use a simple classification system to categorize 11 such healthcare services along the dimensions of urgency and price to estimate patients’ (anticipatory) demand reactions to a reduction in the co-insurance rate by a sickness fund in the Austrian social health insurance system. We use a two-stage study design combining matching and two-way fixed effects difference-in-differences estimation. Our results highlight how an overall joint estimate of an average increase in healthcare service utilization (0.8%) across all healthcare services can be driven by healthcare services that are deferrable (+1%), comparatively costly (+1.4%) or both (+1.6%) and for which patients also postponed their consumption until after the cost-sharing reduction. In contrast, we do not find a clear demand reaction for inexpensive or urgent services. The detailed analysis of the demand reaction for each individual healthcare service further illustrates their heterogeneity. We show that even comparatively minor changes to the costs borne by patients may already evoke tangible (anticipatory) demand reactions. Our findings help policy makers better understand the implications of heterogeneous demand reactions across healthcare services for using cost-sharing as a policy tool.

The Influence of Marketing Mix Strategy on Bread Customer Satisfaction in Nigerian Market

Bread is a practical and ready-to-eat food. Urban people consume Bread as a breakfast menu. This causes the bakery industry to grow even more. This study aims to analyze the purchasing decision process, analyze the dimensions in the marketing mix that affect consumer satisfaction, analyze the level of satisfaction formed by the marketing mix and formulate managerial implications from the results of the marketing mix analysis. Data were obtained from 120 respondents determined by convenience sampling and analyzed using the Structural Equation Model. The results showed that consumers go through all stages of the purchase decision process. Consumers buy Bread based on the motivation to meet their needs as a substitute for rice. Consumers obtain information about Bread from advertising. The main evaluation criterion for consumers before deciding on the purchase of Bread is the condition of the Bread. The consumer's purchase plan depends on the situation. If the variety of types of Sari Roti sought is not available, and there is a price increase, the consumer's action is still to buy Bread. However, if another brand of Bread provides a discount, consumers switch to that other brand of Bread during that period only. Marketing mix has a positive and significant effect on consumer satisfaction. This shows that the role of product, price, place and promotion increases customer satisfaction. The dimensions of product and price have a more substantial influence than place and promotion. The level of customer satisfaction of Sari Roti is in the very satisfied category. The recommended managerial implications are increased availability, 24-hour sales, public relations and sales promotion.

Interpersonal Communication of Mc Donald's Employees In Improving Customer Satisfaction a t Mc Donald's Karang Satria

Along with the development of fast food business time is also growing and increasing which makes the fast food business competition in Indonesia is becoming increasingly stringent. With this intense competition makes a fast food business continues to offer its products with a variety of innovations, especially in communicating with customers.improve communication skills, provide the best service as well, and meet all the needs required by its customers. It becomes interesting to examine, whether customer satisfaction can be improved by an interpersonal communication conducted by a fast food employee to its customers. This study aims to determine the Interpersonal communication of Mc Donald's employees in improving customer satisfaction at Mc Donald's Karang Satria. This study uses interpersonal communication theory from Devito with dimensions of openness, empathy, support, positivity, similarity and also uses customer satisfaction theory from Indrasari with dimensions of Product Quality, Service Quality, emotional, price and cost. This study uses qualitative research methods with interview data collection techniques, observation, and documentation. The results of this study show that interpersonal communication of mc Donald's employees in improving customer satisfaction has been running well in all dimensions, but there are three dimensions that are still not done well, namely related to positivity, service quality and product quality. The conclusion of the study showed that interpersonal communication plays an important role in improving customer satisfaction.

Environmental pollution and price dimension of renewable and nonrenewable energy, economic growth, and financial inclusion in Asia: analysis for carbon mitigation to achieve UN Agenda-13

This study scrutinizes the impacts of oil price fluctuations, financial inclusion, and energy consumption on carbon flare-ups in 20 Asian developing nations. For empirical analysis panel data for the period from 1990 to 2020, and the CS-ARDL model is applied. Furthermore, our data confirm the existence of CD), slope parameter heterogeneity (SPH), and panel co-integration among the variables. For the stationarity of variables, this study applies a cross-sectional augmented IPS (CIPS) unit root test. The outcomes of the study depict that the price volatility of oil in the selected countries affects carbon emissions positively and significantly. This is because these nations use oil as a primary source of energy for the production of electricity, for manufacturing activities, and mainly in the transport sector. Financial inclusion helps to mitigate carbon emissions in developing Asian economies by motivating the industrial sector to adopt clean environmentally friendly production methods. Therefore, the study suggests that reducing dependency on oil and promoting renewable energies, and improving access to affordable and financial products will provide a pathway to achieve UN Agenda-13, a clean environment by mitigating carbon emissions in developing Asian nations.

Pengaruh Kualitas Layanan, Akses, Harga, dan Kompetensi Karyawan Terhadap Kepuasan Pelanggan PT Kereta Api Indonesia

Indonesia's vast territory makes transportation one of the most important needs for Indonesian people. One of them is land transportation, of various kinds of land transportation, trains are one of the favorite transportation of the Indonesian people. By using the train, people can move from one area to another in a relatively short time and safely. PT Kereta Api Indonesia is a company that offers rail transportation services. One of the stations owned by PT Kereta Api Indonesia is Malang Kota Baru Station which is located in Malang City, East Java province, where this city is known as one of the tourist destinations of the Indonesian people. Therefore the management of the Malang Kota Baru Railway Station needs to provide satisfaction for customers who travel through this station. In the research being carried out, researchers will examine the effect of the variable dimensions of service quality, access, price, and employee competence on customer satisfaction at Malang City Baru Station. The type of research used is quantitative research using multiple linear regression analysis. The data was distributed using a questionnaire, and was addressed to 400 respondents who were passengers at Malang Kota Baru Station. The results showed that service quality and access variables had a significant influence on customer satisfaction. Meanwhile, other variables, namely price and employee competence, have no significant effect on customer satisfaction at Malang Kota Baru station.

Deposit insurance and market discipline

Limited coverage is a standard feature in deposit insurance schemes. It is used to limit moral hazard, and achieves this objective by reinforcing market discipline: depositors have more incentives to monitor banks’ risk-taking if they have skin in the game. In this paper, I study market discipline and coverage levels by analyzing the relationship of funding costs and deposit growth with banks’ risk. I use a database of Colombian banks’ balance sheets and take advantage of a sudden, significant, and exogenous increase in the coverage level that occurred in April 2017. I find evidence of market discipline throughout the period of analysis and most results are consistent with it not being reduced by the change in the coverage level. The results are nuanced, however. Two variables are impacted: one in the quantity and the other in the price dimension. Furthermore, results also vary when I look at specific groups of banks separately. Market discipline is not present in big banks. Too big-to-fail perceptions seem to limit it. This is also the case for banks concentrated in fully insured deposits, where limited coverage has a less prevalent role.

Cool brands and hot attachments: their effect on consumers’ willingness to pay more

PurposeThis paper aims to explore how motivations to stand out and fit in through consumption affect consumers’ perceptions of subcultural and popular brand coolness. Importantly, how do perceptions of brand coolness affect consumers’ formations of hot, emotional brand attachments and their willingness to pay more?Design/methodology/approachThis study incorporates survey data from consumers regarding cool brands. A structural equation modeling approach is used to assess the relationship between the variables of interest.FindingsSusceptibility to influence is positively related to desire for unique consumption. While this desire may be fulfilled by both subcultural and popular perceptions of brand coolness, only subcultural coolness has a positive relationship with the willingness to pay more. The importance of an emotional brand attachment is established between both dimensions of brand coolness and price premiums.Research limitations/implicationsThis study is based on cross-sectional survey data. As brand coolness is often transitory, longitudinal research on trends focusing on different elements of brand coolness may shed light on the cool brand lifecycle.Practical implicationsFirms wanting to position brands as cool should emphasize how the brand can help consumers stand out. If a cool brand is already well-known, resources should be allocated to building hot, emotional attachments to command price premiums.Originality/valueThis research contributes to a nascent body of literature empirically exploring brand coolness. It builds on past literature that notes the tension between standing out and fitting in conceptualizations of coolness by assessing individual differences. Significantly, it examines specific attributes of cool brands to explore the differences in how subcultural and popular perceptions of brand coolness relate to important marketing outcomes.

Theological Dimension of Price and Inflation

The theological dimension of price and inflation refers to a religious or theological investigation of the concept of price inflation. While economics is primarily concerned with the study of inflation as a persistent increase in an economy’s general price level of goods and services over time, certain religious scholars and thinkers have investigated its potential ramifications and linkages to theological conceptions. Some religious traditions place a premium on resource management and ethical behavior in economic affairs. Inflation can be viewed as a challenge to this ideal since it can cause the value of money to erode and cause economic hardship for disadvantaged populations. Therefore, the aim of the article is to present systematized and structured knowledge on the perception of prices and inflation in theological sciences, with particular emphasis on Christianity as the dominant religion in the world.

Clustering of percentage gross spreads and the avoidance of underwriter switching

PurposeBoth issuing firms and underwriters shall benefit from the associations in underwriting contracts for seasoned equity offerings (SEOs). Issuing firms that are offered underwriting contracts with clustered gross spreads do not have strong incentives to switch away from the firms' prior SEO underwriters, and thus these existing underwriters are able to maintain or gain greater market share. This study investigates how the clustering of percentage gross spreads affects the likelihood of underwriter switching.Design/methodology/approachUsing the investment bank-underwritten SEOs in Hong Kong, the authors find that the percentage gross spreads of 40% of these SEOs are clustered at 2.5%. The seemingly unrelated bivariate probit model, Weibull survival mixed model and trivariate probit model are applied to analyse this phenomenon.FindingsThe authors' study provides first direct evidence that the clustering of percentage gross spreads lowers the likelihood of underwriter switching. Investment banks as underwriters can explicitly price underwriting contracts at a clustered level, more likely in periods of greater market volatility, and intentionally retain the banks' client firms using pricing arrangements. The authors' finding and approach offer more direct and distinct support that the issuer–underwriter association can be relationship-based.Originality/valueWhilst the clustering of fees is interpreted as a type of anticompetitive price sitting, the authors contribute to literature by providing new empirical evidence on why percentage gross spreads as a price dimension are clustered. On top of contract efficiency and collusion, this study's new evidence provides a third view for the clustering of gross spreads.

A High-Dimensional Approach to Predicting Audit Opinions

ABSTRACT This study develops a model for the prediction of audit reports. The research data comprises 57881 firm-year observations for public companies listed on the New York Stock Exchange (NYSE), the American Stock Exchange (AMEX), and the NASDAQ from 2000 to 2019. The dataset consists of a high dimension of predictor variables (105 variables), including accounting-based, ownership concentration, executive compensation, market price, analysts rating, macroeconomic, and audit-related variables. A commercial version of Gradient Boosting, called TreeNet®, is used to build the prediction model. The results indicate that the developed model demonstrates high performance in predicting going-concern reports with an accuracy rate of 97.5%.

ANALISIS BAURAN PEMASARAN POLIKLINIK EKSEKUTIF RUMAH SAKIT DR.HASRI AINUN HABIBIE BERDASARKAN PROFESI

The marketing mix is ??marketing activities carried out in an integrated manner, which is carried out simultaneously among the elements in the marketing mix itself. According to Lovelock and Wright, in service marketing, the 4P instruments developed into 7Ps, namely product, price, place, promotion, people, process, and physical evidence. The executive polyclinic is one of the hospital's marketing strategies to achieve profit and existence in the community. There are many factors that influence consumer buying behavior, one of which is a personal factor, namely one's profession. The purpose of this study was to analyze the marketing mix of the executive polyclinic of Dr. Hasri Ainun Habibie Parepare Hospital based on profession. The method used is analytic observational with a cross sectional approach. The MANOVA test was conducted to see differences in demographic characteristics in influencing the dimensions of the marketing mix. The results of this study indicate that the responses of respondents by profession differ significantly in the dimensions of product, price, place, promotion, process, and physical evidence

ANALISIS PENGARUH IKLAN, HARGA DAN KUALITAS PRODUK TERHADAP PURCHASE DECISION PRODUK SKINCARE MS GLOW DI PURWOKERTO

Lately, there are many new skincare products circulating in Indonesia. This is due to the availability of opportunities to gain market share in the skincare product business sector in Indonesia. The purpose of this study is to determine the effect of the dimensions of Advertise, Price and Product Quality on Purchasing Decisions for MS Glow products.This research is a quantitative research and the respondents in this study were 111 respondents. In this study the sample was taken by non-probability sampling, namely the accidental sampling technique. Based on the data analysis shows that: (1) Advertise has a positive and significant effect on Purchase Decisions, (2) Price has a positive and significant effect on Purchase Decisions, (3) Product Quality has a positive and significant effect on Purchasing Decisions