Experience Economy Research Articles

Looking Back Deeper, Recovering up Better: Resilience-Oriented Contrarian Thinking about COVID-19 Economic Impact

In the early stage of the COVID-19 outbreak, a vast majority of research predicted its potential economic impacts based on various possible scenarios, believing that looking forward earlier and recovering better. In contrast, through contrarian thinking from an economic recovery perspective, this study empirically investigates the direct impact of COVID-19 on China’s economy. This reveals that China’s economy experiences a V-shaped recovery; it is in the recovery process and will achieve the pre-pandemic level in the coming years. Consumption, international trade, and investment indicators are synchronously recovering, which may be attributed to the fact that the pandemic has had little impact on China’s economy, although it remarkably hits national consumption, international trade, and investment that are less interrupted. Empirical evidence shows that the pandemic is unlikely to alter China’s industrial structure, as it has primarily affected the service and manufacturing sectors while leaving agriculture relatively unaffected. In light of these findings, China’s economy is facing challenges beyond the pandemic. By adopting a recovery-oriented contrarian approach, we can better identify the dynamic consequences and optimize economic strategies to mitigate potential long-term impacts on sustainable economic growth. These insights may also help guide economic recovery efforts in other developing countries.

National Recommendations for Pharmacoeconomic Evaluations Reporting for Reimbursement and Procurement of New Pharmaceutical Applications in Egypt.

To improve resource allocation within our healthcare system, the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology (UPA) and Universal Health Insurance Authority (UHIA) established a joint economic evaluation process to support UHIA reimbursement decisions and UPA procurement decisions. The main objective of this study is to describe the developed national pharmacoeconomic guidelines in Egypt, especially for reimbursement and procurement for new pharmaceuticals. A focus group was formed as a national initiative activity by governmental authorities in Egypt. The aim of this focus group was to develop national pharmacoeconomic guidelines for the evaluation of innovative and high-budget pharmaceutical products. This group consisted of various stakeholders with experience in health economics, outcomes research, public health, and pharmacy practice. To develop our national pharmacoeconomic guidelines, three steps were taken. First, the focus group reviewed the European Network for Health Technology Assessment (EUnetHTA) methods for health economic evaluations for new pharmaceuticals as well as the Canadian Agency for Drugs and Technologies in Health (CADTH) guidelines and the Academy of Managed Care Pharmacy (AMCP) Format for Formulary Submissions. Second, the focus group used the EUnetHTA guideline as a reference and adapted it to our local context. The focus group added the value assessment component, using the CADTH and AMCP guidelines. Third, the focus group collected input and feedback from key stakeholders through a focus group by using the quasi-Delphi panel approach. The results of the focus group are a main structure of national pharmacoeconomic guidelines for the evaluation of innovative and high-budget pharmaceutical products, consisting of seven main topics. Economic evaluation is a core element of Health Technology Assessment, (HTA); therefore, the UHIA and UPA were encouraged to produce unified joint pharmacoeconomic guidelines for innovative products as an initial step in their commitment to implement the use of HTA in decision-making. This standardization of guidelines not only ensures transparency but also guarantees an accurate and transparent process to support evidence-based decision-making. These guidelines are expected to help decision-makers improve their process and attain better health outcomes for Egyptian patients.

Foreign but familiar: Hallyu spaces and K-culture in urban Hanoi, a walking and participant observation study

ABSTRACT For over two decades, South Korean pop culture has occupied the Vietnamese' cultural lives as it has conquered numerous other markets, giving rise to the global cultural phenomenon of the Korean Wave, or Hallyu. While Hallyu has spread across Vietnam, businesses serving made-in-Korea or (mimicking) “Korean-style” products and services have also developed in many of its cities, including the capital, Hanoi. Tracing the “Hallyu spaces” which such businesses constitute, this article explores the extent and patterns of those spaces and how they fit into the day-to-day flows of Hanoi and its residents' consumerist lives. It focuses on two main areas of discussion: the kinds of Korean (or Korean-inspired) products and services on offer and the locations in which these are found. Using a combination of methods, including walking, participant observation, photo-taking, mapping, casual interviews, and digital ethnography, the study contributes to the scholarship on the urban spaces and consumption practices in Hanoi and the cultural exchange between Vietnam and South Korea. It reveals how Hallyu spaces add to Hanoi's experience economy as well as the conspicuous and seeping effects of Hallyu in urban Hanoi and Vietnam. Theoretically, the study advances the conceptualisation of “K-culture” and “global Koreanness” in Hallyu studies.

La experiencia turística en los planes de estudios universitarios de Grado en Turismo

Tourism and the experience economy are closely linked. The aim of this study is to assess the extent, timing, and manner in which the tourist experience has been integrated into the curriculum of official undergraduate Tourism degrees in Spain, given that a relevant curriculum is the most crucial element of an educational program. For this purpose, we have employed a bibliometric analysis. Through a Content Analysis of the verification reports of Tourism degrees, using ATLAS.ti v.24, we have identified a temporal disconnect between the reality of the tourism industry and its corresponding academic training. Therefore, a greater integration of the tourist experience into the curriculum is necessary. This could be particularly achieved by introducing more mandatory courses that cover this subject matter. It is recommended that universities review their study plans to more significantly incorporate the tourist experience, in line with CEDTUR's recommendations. The significant practical implications of this research for the employability of graduates extend to the entire tourism ecosystem. It has highlighted a discrepancy between the needs of businesses and educational programs, leading to recommendations for the implementation of improvement measures in the verification reports of Tourism degrees.

Strategic Management of Innovative Development of Enterprises According to the Experience Economy Model: A Review

Strategic Management of Innovative Development of Enterprises According to the Experience Economy Model: A Review

Research on Pingyao Lacquerware Based on Experience Design

Due to the continuous development of social and economic forms, most of the traditional handicraft forms of industry have been more challenged in the wave of development, and the world UNESCO and the Chinese government have made great efforts. In recent years, the state has promoted cultural confidence, encouraging people to re-focus on the spiritual connection with culture while satisfying their material needs. The trend of great attention to traditional culture and the continuous development of tourism have brought Pingyao lacquerware, a representative traditional handicraft, back to the public's attention. As one of the intangible cultural heritages, it is in urgent need of attention and protection due to the complexity of the craft and the difficulty of passing it on. Nowadays, the experience economy has become the trend of the times, and tourists are not only looking for material products or simple services but are also more and more concerned about their experience in travel activities. Therefore, it is essential to satisfy the personalized experience needs of tourists in the region of Pingyao regarding the lacquerware experience. Given this, this study takes Pingyao lacquerware as the object of research based on the theoretical background of experience design to explore new development paths for Pingyao lacquerware from the perspective of experience.

Exploring factors influencing the agglomeration of implicit consumption space: A comparison with explicit consumption space

The implicit development of consumption space in buildings relying on the O2O business mode is a new form of urban renewal under experience economy and e-commerce. The concept of implicit consumption space emerged as a result. There is a lack of research on implicit consumption space and this study aims to fill this gap. Using POI data and spatial analysis methods, the paper studies the clustering characteristics and influencing factors of the explicit and implicit consumption space in the Old City of Nanjing to provide practical implications for urban renewal, and finds that the implicit consumption space grows fast and has strong clustering, and its layout basically follows the traditional commercial location theory. Commercial districts, office buildings and traffic accessibility are the common influencing factors for the distribution of explicit and implicit consumption spaces. Explicit and implicit consumption space influence each other in layout, while implicit consumption space has a stronger dependence on explicit consumption space. The influencing factors for the agglomeration of explicit and implicit consumption space have spatial variations. The implicit consumption space is an important path for the bottom-up renewal of the old city, and also provides an opportunity for urban function optimization, innovation, and entrepreneurship.

The role of the socialist second economy experience in an entrepreneurial career after 1989

ABSTRACT Our case study is the story of a successful entrepreneur who, thanks to the second economy, had already been successful before the regime change, and who, after the regime change, was forced to build a completely new career due to changes in the institutional environment and became successful as an entrepreneur again. What kind of “entrepreneurial spirit” does he have and where did he acquire it? How can this be explained, and what factors combined to make him successful beyond the regime change and independent of the system? How did his experience in the second economy contribute to his success after 1989? These are the questions we seek to answer.

Using the concept of experience economy in the field of selling elite wines

Using the concept of experience economy in the field of selling elite wines

The efficiency of consumption and assimilation of nutrients of the diet feed, depending on the genotype and castration of young sheep

Relevance. As a result of the scientific and economic experience, materials were obtained characterizing the peculiarities of consumption and assimilation of nutrients in the diet of sheep, depending on genotypic affiliation and castration.Methodology. In order to perform the experiment, groups of experimental young animals were selected: I – Gypsy breed (sheep), II – ½ Tsigai × ½ edilbai (sheep), III – Tsigai breed (boulders), IV – ½ Tsigai × ½ edilbai (boulders).Results. The effect of genotype and castration on the amount of consumed and digested nutrients has been established, which in turn affects their digestibility in the body and the formation of meat products. It is enough to note that crossbred rams and boulders having the genotype ½ Qigai × ½ edilbai surpassed purebred analogues in consumption of dry matter by 237.6 g (14.5%) and 227.5 g (8.15), organic matter – by 220.4 g (14.55%) and 200.0 g (14.2%), in digestion (assimilation) dry matter by 173.0 g (16.1%) and 167.8 g (16.8%), organic matter by 158.9 g (15.5%) and 152.5 g (16.2%). At the same time, both purebred and crossbred boulders were characterized by the lowest indicators.

Economic marginalization of ethnic minorities in Eastern Europe: A cross-national assessment of self-reported experiences

How has identification and differentiation based on ethnicity shaped the economic experience in postsocialist Europe? We propose that creation of neoliberal capitalism in the context of ethnic conflict led to a sense of economic marginalization of East European ethnic minorities. Findings from Life in Transition Survey analysis show greater economic discontent by ethnic minorities in 2006 than in 1989 and persistent discontent in 2016, controlling for social class standing and other relevant demographics. Economic marginalization may also lead ethnic minorities to support more involvement of state in guaranteeing employment and low prices and to dislike markets as a way to organize the economy, both supported in our data. We conclude by suggesting how our findings about marginalization of ethnic minorities help put into perspective contemporary receptivity of East Europeans (and others) to nationalist and populist leaders.

The Filter and the Viewer: On Audience Discretion in Film Noir

To the French critics who originally labelled certain films noir it seemed that a class of Hollywood products had gone darker during the war years – as though a dark filter had been placed over the lens. Films were not designed or marketed as noir, and retrospectively noir's status as a genre is still unsettled. Yet there is widespread interest today in experiencing diverse films as noir, and even in using a Noir Filter in Instagram and video games. Pursuing the filter clue, the noir experience can be thought of as subjection to a dark filtering of narrative. Image filtering styles can help to resolve not only the puzzle of noir's quasi-genre status but also an issue of general interest in aesthetic experience. The use of image filters makes a distinctively powerful contribution to the experience of a work or genre, or to the cultural dominance of an aesthetic regime, due to the unobtrusive formative role it plays in the economy of experience.

Lived Experiences of Patients After Colorectal Cancer and Permanent Colostomy: A Parallel-Design Mixed-Methods Study.

To identify the lived experiences, quality of life (QoL), and level of ostomy adjustment (OA) in patients after colorectal cancer with a permanent colostomy (PC). In this parallel-design mixed-methods study, the researchers interviewed 14 patients after colorectal cancer whose PC was created more than 1 year prior. Qualitative data were interpreted using hermeneutic interpretive phenomenological design. Quantitative data were collected with the Stoma QoL Scale and OA Inventory-23. The mean age of the participants was 61.5 (SD, 10.0) years, and the mean PC duration was 7.7 (SD, 5.0) years. Mean QoL and OA scores were just above the median. Three superordinate themes consisting of nine themes emerged from the analysis: (1) early experiences (acceptance, medical problems, and emotional changes); (2) long-term experiences (physiologic experiences, psychosocial experiences, economic experiences, and coping strategies); (3) feelings and expectations about the future (worries and expectations). Even individuals who have been living with a PC for a long time may not be fully adapted to the process and may not have internalized lifestyle changes. Nurses should provide support to individuals with a PC through routine follow-ups, social support, and facilitative healthcare strategies regardless of the length of time since PC creation.

Diffusion of innovation in direct-to-avatar (D2A): A study of immersive communication and branding in the metaverse

Direct-to-Avatar (D2A) is the new phenomenon in the online retail segment. Brands are moving towards immersive commerce in which the central focus is on immersive communication for better customer experience in the metaverse. Diffusion of innovation theory acted as a theoretical framework to understand the premiums that the brands can enjoy from the customers by moving towards immersive commerce. 948 tweets on metaverse were analysed and five in-depth interviews with the experts on metaverse were conducted. For the quantitative study, the data were collected from a select metaverse Facebook group. The findings of PLS-SEM revealed that four factors - customer engagement, customer experience, value co-creation and customer empowerment - have statistically positive impact on customer citizenship behavior which ultimately affects customer satisfaction and loyalty towards the brands. The study extends the applications of diffusion of innovation theory in the content of immersive communication. It enriches the literature on technological advancements in immersive commerce. This is one of the first studies that focus on lifestyle brands in the metaverse. Also, this study depicts how socializing the digital brand communication with experience economy can be a key factor for lifestyle brands.

Relationships Between Theme Park Ride Experience and Loyalty: The Moderating Role of Past Experience

ABSTRACT Understanding the relationship between theme park ride experiences and visitor loyalty is crucial yet still not fully elucidated, particularly regarding differences between first-time and repeat visitors. Drawing upon the experience economy framework and the theory of experienced utility, this study explores how various aspects of theme park ride experience (education, aesthetics, entertainment, and escapism) influence visitor loyalty (revisit and recommendation intentions), considering the moderating effect of past experience. Structural equation modeling and invariance tests were conducted on data collected from 412 theme park visitors in China. Results indicate that the four dimensions of theme park ride experience have varying impacts on patrons’ revisit and recommendation intentions. Additionally, first-time visitors’ intentions are more influenced by active participation experiences compared to repeat visitors. This study advances the theoretical knowledge of theme park ride experience and offers practical implications for park management.

The Role of Relationship between Money Supply and Exports in the Context of Economic Development through Increasing the Resilience of Foreign Exchange Reserves: Evidence from Selected Asian Countries

The importance of building foreign exchange reserve performance is the main requirement in safeguarding the economy in the global order from potential risks and threats originating from the external sector. This has become an important discussion in recent times, but several previous studies have not answered the urgency in building sustainable economic resilience, especially in countries that have economic experience with economic shocks caused by potential risks originating from the external sector. Ordinary-Least Square (OLS) analysis chosen to prove impact of financial stability and international trade on the growth and resilience of foreign exchange reserves as external liquidity for several countries in Asia during 1990 – 2020. The results of this research show that in the long term, both the money supply variable and exports as an independent variable have a positive and significant influence in increasing the resilience of the external liquidity performance of selected Southeast Asian countries. Our policy recommendations emphasize the importance of maintaining the resilience of foreign exchange reserves as external liquidity in order to increase economic resilience in the global economic arena. The government should provide the main focus in increasing policies by increasing the role of the external sector itself through international cooperation.

The Prospects for the Development of Territorial Branding in the Context of the Experience Economy

The article explores the phenomenon of branding territories in the context of experience economy in its active development in recent years. The relevance of the study stems from a number of reasons. Firstly, there is a need for scientific and practical models of the best development practices of the regions of the Russian Federation. Secondly, the competent branding policies are required in order to revive and develop small towns, as well as to prevent the outflow of employable population to cities. And finally, there is an importance in understanding the impact of experience economy tools on the branding of territories. The subject of the study is territorial branding as one of the forms of the experience economy realization. The purpose of the study is to reveal the process of development of territorial branding in light of the experience economy. The works of local and foreign scientists, as well as materials from specialized websites, online publications on marketing strategies and tools of the new economy are taken into account. Based on a review of the scientific literature, which presents approaches to understanding the specific features of territorial branding and the importance of impressions for customer loyalty, the practical recommendations are offered for the Russian Federation. Promising strategies for forming brands of territories through the use of experience economy tools have been identified. The practical implications and scientific value of the article is in the formulated proposals for improving territorial branding.

Investigating User Experience of VR Art Exhibitions: The Impact of Immersion, Satisfaction, and Expectation Confirmation

As an innovative form in the digital age, VR art exhibitions have attracted increasing attention. This study aims to explore the key factors that influence visitors’ continuance intention to VR art exhibitions using the expectation confirmation model and experience economy theory and to explore ways to enhance visitor immersion in virtual environments. We conducted a quantitative study of 235 art professionals and enthusiasts, conducted using the partial least squares structural equation modeling (PLS-SEM), to examine the complex relationship between confirmation (CON), Perceived Usefulness (PU), Aesthetic Experiences (AE), Escapist Experiences (EE), Satisfaction (SAT), and Continuance Intention (CI). The results show that confirmation plays a key role in shaping PU, AE, and EE, which in turn positively affect visitors’ SAT. Among these factors, AE positively impacts PU, but EE have no impact. A comprehensive theoretical model was then constructed based on the findings. This research provides empirical support for designing and improving VR art exhibitions. It also sheds light on the application of expectation confirmation theory and experience economy theory in the art field to improve user experience and provides theoretical guidance for the sustainable development of virtual digital art environment.

International Trade Liberalization and Domestic Institutional Reform: Effects of WTO Accession on Chinese Internal Migration Policy

Abstract Economic institutions that impede factor mobility become more costly when an economy experiences substantial transitions such as trade liberalization. I study how trade triggers changes in labor institutions that regulate internal migration in the context of China’s Hukou system. Using a newly collected dataset on prefecture-level migration policies, I document an increase in promigrant regulations following WTO entry and estimate the impact of prefecture-level tariffs on exports on migration regulations from 2001 to 2007. I find that regions facing more export market liberalization enacted more migrant-friendly regulations.

Form generative approach for front face design of electric vehicle under female aesthetic preferences

Vehicles are the most representative product of both transportation and industry. Fueled by the growing popularity of energy-saving and environmentally friendly ideas and policies, new energy technologies and their supporting industries are experiencing constant development and refinement. As a result, electric vehicles (EVs) are steadily displacing traditional fuel-powered vehicles as the dominant force in the vehicle market. The experience economy is driving a significant shift in the direction of EV development, which is transitioning from improving functionality to optimizing the emotional connection consumers have with their vehicles. This means the form factor of the vehicle itself is becoming a key element in attracting consumers and influencing purchasing decisions. Over half of China's EV consumer market is comprised of females. However, many companies continue to develop products solely from a male perspective, missing out on a vast market opportunity. Therefore, incorporating design elements that cater to female aesthetic preferences into EVs can undoubtedly play a crucial role in unlocking this significant segment of the market. Based on this, the paper proposes a form generative design approach that specifically caters to the preferences of female consumers within the theoretical framework of Kansei engineering.The research process begins by obtaining Kansei imagery through the collection and analysis of big data. Subsequently, eye-tracking experiments are conducted to define the key design elements of the automobiles. Concurrently, appropriate aesthetic measurement indicator (AMI) system is established. Next, AMI values are computed for the sample set. This data is then leveraged to create a mapping relationship with the Kansei imagery, enabling the objective reflection of subjective aesthetic evaluations. Finally, an integrated Kansei evaluation equation serves as the fitness function within a generative approach that utilizes genetic algorithms and visual AI to produce form design solutions for electric vehicles. The evaluation confirms that the proposed design approach successfully generates a substantial number of high-quality creative solutions that align with female aesthetic preferences, while maintaining low cost and high efficiency.