Experience Economy Research Articles

Hotel Package Products Experience Economy Factors(4Es)’ Effects on Flow, Willingness to Pay, Continuous Use Intention

Hotel Package Products Experience Economy Factors(4Es)’ Effects on Flow, Willingness to Pay, Continuous Use Intention

The Model of Stock Pricing Banking Sector on the Indonesia Stock Exchange during the Government of Susilo Bambang Yudhoyono and Joko Widodo

Differences in macroeconomic conditions between the SBY and JKW government periods can significantly impact stock prices within the banking sector, especially when the economy experiences fluctuations, leading to increased stock price volatility. This research aims to assess the influence of various macroeconomic factors, including the Global index, macroeconomics, world oil prices, China index, Arab index, competitive resources, and inflation, on banking sector returns from October 2004 to October 2014. The analysis utilizes the arbitrage pricing theory, difference test, and mean absolute deviation. The study divides the analysis into high-return and low-return groups for each government period. Findings indicate that macroeconomic factors exert a simultaneous influence on return groups during both SBY and Jokowi's administrations. However, for JKW high returns, these factors do not significantly impact them. Specifically, the Global Index, China Index, Arab Index, Resource Competitiveness, and Inflation show a positive correlation with both high and low returns during SBY term. Conversely, during JKW tenure, only the Global Index and China Index exhibit positive effects on high and low returns. The difference test reveals disparities in the Arab index for high and low returns of SBY, while only the Global index displays differences for JKW. The variations in high returns between SBY and Jokowi stem from discrepancies in the Global and Arab indices, while no distinctions exist in low returns between the two administrations. Additionally, the mean absolute return values for high returns during JKW era demonstrate the smallest accuracy, indicating potential limitations in the predictive power of the model during this period.

Editorial for the Special Issue of Comparative Economic Studies: 50 Years After the End of Bretton Woods—The Experiences of Small Open Economies

AbstractThis special issue of Comparative Economic Studies, commemorating fifty years since the end of the Bretton Woods system, examines the adjustment of small open economies to floating exchange rates and new monetary policy frameworks. Based on a workshop held at the KOF Swiss Economic Institute in June 2023, six papers analyse dimensions such as the evolution of monetary policy regimes, the impact of economic crises and the use of unconventional monetary policies in Canada, Israel, Norway, Sweden and Switzerland. The findings highlight the benefits and limitations of inflation targeting, the challenges of global financial integration and the strategic responses of central banks to maintain stability and independence, providing policymakers with valuable insights into the complex dynamics of monetary policy in the post-Bretton Woods era.

The influence of boars of producers of various breeding on the economic indicators of the use of sows

Relevance. Interbreeding or hybridization is an important factor in increasing pig productivity. As a result of the heterosis effect, the multiplicity of sows increases, the safety of offspring increases, the growth rate of young animals improves, the quality of meat improves and, as a result, the profitability of the pig industry increases.Methods. The paper evaluates the influence of boar producers from the companies PIC, Genesus Genetics and Hypor on the reproductive qualities of sows of a large white breed from the company Hypor. To implement the experiment, according to the principle of pairs of analogues, 3 groups of sows of a large white breed from the company Hypor were formed, 5 heads each. The sows of group 1 were inseminated with the seed of Landrace boars from PIC, group 2 with the seed of Landrace boars from Genesus Genetics, group 3 with the seed of Landrace boars from Hypor.Results. In scientific and economic experience, it was found that the multiplicity of sows of the 3rd group amounted to 13.0 heads, which is 7.7% less than in the 1st and 2nd experimental groups. The number of piglets at the time of weaning in groups 1 and 2 per sow was 12, which is 5.3% more than in group 3. For 1 kg of live weight gain, 9.38 EQ was spent on farrowing in the 3rd group, which is 8.1% more than in the 1st and 8.4% more than in the 2nd experimental group. Based on 1000 rubles of feed consumed, in addition, compared with the 3rd group (5.44 rubles), more live weight gain was obtained in the 1st experimental (by 0.44 rubles) and in the 2nd experimental (by 0.47 rubles) groups.

The experience economy is the path to digital transformation

The article discusses aspects of digital transformation leading to an inevitable change in social production. The ability of digital transformation to take your business to a new level and attract a large number of potential clients has been demonstrated. The influence of networking and digitalization on the efficiency of the economy and meeting the needs of all participants in business processes has been studied. The study highlighted options for implementing the digital transformation of social production, allowing us to seize leadership in the chosen area.

Negative economic experiences and subjective well-being in South Korea during the COVID-19 pandemic: examining mediating effects of perceived life control and psychological distress

Negative economic experiences and subjective well-being in South Korea during the COVID-19 pandemic: examining mediating effects of perceived life control and psychological distress

Who is easier to please? A cognitive appraisal mechanism of tourists’ hierarchical experiences

ABSTRACT The ethnic ancient cities, as ‘cultural contact zone’, carries a large number of tourists, who may have the same or different cultural background from the host culture. Combining experience economy theory and cognitive appraisal theory, this study constructed a cognitive appraisal mechanism of tourist’ hierarchical experiences in ethnic ancient cities. The PLS-SEM results of 489 tourists in Kashgar Ancient City and 474 tourists in Qingzhou Ancient City reveal that cognate cultural destinations require more effort to please tourists than non-cognate cultural destinations. In non-cognate cultural contexts, the cultural contact has a greater impact on interaction immersion, while in cognate cultural contexts, the authenticity experience has a greater impact on interaction immersion. Moreover, compared to other experiential types, the impact of escapist experience, which has high-level engagement and high-level connection, on destination satisfaction is negatively moderated by destination familiarity. These findings provide practical insights for managers to innovate experiential forms and promote tourists’ revisits in different cultural destinations.

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.