Price Effects Research Articles

The non-linear price effect on guest satisfaction of the Michelin-starred restaurants

ABSTRACT Existing studies on the price–satisfaction relationship in the tourism industry are limited, particularly those examining the causality in the restaurant industry. This study examines the effect of price on guest satisfaction based on a sample of 439 customers in 8 Taiwanese Michelin-starred restaurants during the period of January 2022 to April 2022. Theories suggest two opposite price effects on satisfaction: the positive price effect represents the signal of expected quality while the negative price effect is associated with the guests’ perception of sacrifice. The empirical results indicate an inverted U-shaped impact of the restaurant price on food satisfaction but the price does not affect service and physical environment satisfaction. Moreover, the restaurant price–food satisfaction relationship could be affected by the moderating influence of the star rating system to become a U-shaped function (for one-starred restaurants).

Unveiling an asymmetric relationship between global crude oil and local food prices in an oil-importing economy

AbstractRecent swift comovements of local food and global crude oil prices have attracted the attention of policymakers and researchers. To evaluate this relationship, many studies have used time series models to explore global crude oil and local food prices. However, robust research based on advanced nonlinear time series models that incorporate control variables for their formation is lacking. In this paper, nonlinear techniques are applied to assess the asymmetric nexus between Brent oil prices and local retail food prices in Slovakia. To estimate this value, we extend the single-threshold NARDL approach to the MTNARDL model. The nominal exchange rate and industrial production index are used as the control variables. Compared with conventional NARDL models, the MTNARDL model provides a more detailed representation of global oil‒local food price linkages and detects the asymmetric effect of global oil prices on food prices from both long- and short-term perspectives. Interestingly, with respect to long- and short-term food price volatility, changes in response to oil price fluctuations are greatest under a regime with rather a small number of positive and moderate changes.

Combining the effects of industrialization and oil prices on CO2 emissions: What role do renewable energy, urbanization and financial crisis play?

AbstractTransitioning to a low‐carbon economy is essential for sustainable development; however, there remains a significant gap in understanding the moderating role of oil prices within the industrialization‐CO2 emissions relationship. This study is the first to investigate how industrialization interacts with oil prices to affect CO2 emissions across 30 African countries from 2000 to 2021, focusing on country‐specific heterogeneity. The results of Driscoll‐Kraay and IV‐GMM techniques suggest that industrialization drives CO2 emissions, while oil prices mitigate CO2 emissions in Africa. The results also show that economic growth (GDP) and urbanization stimulate CO2 emissions, while renewable energy and financial crises reduce it. The study's key findings report that oil prices moderate industrialization to reduce CO2 emissions in Africa. The heterogeneity analysis reveals that industrialization reduces CO2 emissions in top, upper‐middle and low‐industrialized countries. Oil prices reduce CO2 emissions in upper‐middle and low‐industrialized countries, while this relationship is insignificant in top industrialized countries. The findings also indicate that oil prices moderate industrialization to reduce CO2 emissions in upper‐middle industrialized countries, not top and low industrialization groups. Finally, findings from quantile regression suggest that the effects of oil price and industrialization on CO2 emissions are heterogeneous. Policymakers should promote green industries, invest in renewable energy infrastructure, and implement regulations that adhere to environmental standards.

Aggregate Output Stability: Divergent Perspectives

The main objective of this article was to describe two asymmetric perspectives of the aggregate imbalance approach. Starting from the contrast of the Rational Expectations and Keynesian approaches, we analyze the characterization that the general reserve makes of the causes of inflation and the implications that it has on economic policy decisions. From the rational expectations approach, companies and workers form a kind of coherent group that jointly experiences fluctuations in the prices of their products and faces in unison the problem of signal extraction. On the other hand, the Keynesian approach to effective demand explains price fluctuations in principle as an expression of insufficient demand that generates involuntary unemployment. It was identified that the increase in margins during 2021 sought to pass on to consumers and end users of the goods and services of oligopolistic structures the increase in marginal costs induced by the fall in effective demand; resulting in an effect of price increases on the supply side or cost inflation.

Analysis of The Effect of Coal Prices And Macroeconomic Factors on The Energy Sector Index In Indonesia

Analysis of The Effect of Coal Prices And Macroeconomic Factors on The Energy Sector Index In Indonesia

Commercial prices and their influence on urology practices: Prostate cancer care among men with Medicare.

For men with prostate cancer, there is substantial variation in the use of conservative management, such as active surveillance. Commercial prices, which vary across urology practices, may afford incentives that foster physician behaviors associated with utilization. Such behaviors may "spillover" to the Medicare population and affect quality. This study evaluated the effects of practice-level commercial prices on health care utilization and quality in men with prostate cancer insured by traditional Medicare. From a 20% Medicare sample, the authors identified men with newly diagnosed prostate cancer between 2014-2019 (n=44,653). Using commercial payments from the MarketScan database, they developed a practice-level commercial price index (ratio of commercial prices to Medicare prices). They examined the association of the price index with price standardized spending, overtreatment (treatment among those with >50% noncancer mortality within 10 years), and underuse of diagnostic testing in active surveillance (at least one prostate-specific antigen test and one confirmatory test-MRI, prostate biopsy, genomic test-within 12 months of diagnosis). Practice-level commercial price indices varied from 1.34 (134% of Medicare prices), for practices in the bottom decile, to 3.00, for practices in the top decile. Increasing price index was associated with lower odds of overtreatment (odds ratio, 0.86; 95% confidence interval, 0.76-0.97; p=.01), but not price standardized spending or underuse of diagnostic testing in active surveillance. Commercial prices vary markedly across urology practices. Among newly diagnosed men with traditional Medicare, those managed by practices with higher commercial price indices had lower odds of overtreatment, suggesting improved prostate cancer care quality.

The Impact of Financial Ratios on Stock Prices of Healthcare Sector Companies Listed on the Indonesia Stock Exchange (IDX) in the 2020-2023 Period

In order to determine the impact that the Return On Asset (ROA), Current Ratio (CR), and Debt to Asset Ratio (DAR) have on the stock prices of health sector companies that are listed on the Indonesia Stock Exchange (IDX) between the years 2020 and 2023, this study will investigate the correlation between these three ratios. Secondary data are utilized in the research process. The approach of purposive sampling was utilized in order to identify ten businesses that met the requirements. The method of analysis that is utilized is called panel data regression, and it is realized through the utilization of the EViews 12 application. It has been determined that the fixed effect model (FEM) is the most effective model for panel data regression. In contrast to ROA, which did not have a significant relationship with stock price effects, the results showed that CR and DAR were marginally related to stock price influences (t test). It is also important to note that the three factors ROA, CR, and DAR all have an impact on stock prices simultaneously. With a value of 69.7%, the independent variable exerts a strong influence on the variable that is being studied. Due to the fact that these three factors are representative of the stock price of the company, the research was carried out with the intention of supporting investors in the process of decision-making and companies in the process of developing financial policies.

Pengaruh Kualitas dan Harga Terhadap Keputusan Pembelian Mobil Hybrid di Jawa Barat dengan Promosi Sebagai Variabel Intervening

This study aims to determine and analyze the effect of product quality on hybrid car purchasing decisions in West Java. To determine and analyze the effect of price on hybrid car purchasing decisions in West Java. To determine and analyze the effect of promotion on hybrid car purchasing decisions in West Java. To determine and analyze the effect of product quality on purchasing decisions through hybrid car promotions in West Java. To determine and analyze the effect of price on purchasing decisions through hybrid car promotions in West Java. This research method uses quantitative samples used in this study as many as 100 respondents using the purposive sampling technique method, the data analysis technique used in this study is path analysis with the structural model analysis tool used in this study, namely SmartPLS. The results of the research that has been conducted can be concluded that the product quality variable has a significant effect on the promotion of hybrid cars in West Java. The price variable has a significant effect on the promotion of hybrid cars in West Java. The product quality variable has a significant effect on the decision to purchase hybrid cars in West Java. The price variable has a significant effect on the decision to purchase hybrid cars in West Java. The promotion variable has a significant effect on the decision to purchase hybrid cars in West Java. The product quality variable has a significant effect on the decision to purchase through the promotion of hybrid cars in West Java. The price variable has a significant effect on the decision to purchase through the promotion of hybrid cars in West Java.

Pengaruh Harga dan Cita Rasa Terhadap Kepuasan Konsumen pada Kebuli Curry House Karawang

“Kebuli Curry House is one of the restaurants that sells Middle Eastern specialties, namely Kebuli rice in Karawang. The purpose of this study is to understand the effect of price and taste on customer satisfaction. This research is categorized as quantitative research based on its objectives. Data was collected by distributing questionnaires to 96 respondents online and offline. The purposive sampling method was used for the sampling technique using purposive sampling conditional on the respondent having made a purchase either directly or online as well as eating food from Kebuli Curry House Karawang at least once. Furthermore, multiple linear regression analysis was performed on this data. The results show that price has an insignificant effect on customer satisfaction, while taste has a significant effect on customer satisfaction.”

The Influence of Product Quality and Price on Customer Loyalty in Online Muslim Fashion Retail: A Quantitative Study on Liah Hijab’s Online Shop

Aims: The purpose of this study was to determine the effect of product quality and price on customer loyalty in Liah Hijab's online shop, both partially and simultaneously. Study Design: This type of research is quantitative associative, which is intended to determine the relationship between product quality and price to customer loyalty, both partially and simultaneously. Place and Duration of Study: Liah Hijab's online shop, Makassar, between July and September 2024 Methodology: The population in this study were Liah Hijab consumers who made purchases in 2024. The sampling technique used was purposive sampling with a sample size of 100 respondents, who have made purchases at least 2 times a month. Data collection was carried out by distributing questionnaires online using Google Form. The data obtained was processed using SPSS software and then analyzed through instrument tests and multiple linear regression tests. Results: Based on the results of the F test, it shows that there is a positive and significant relationship between product quality and price on customer loyalty at Liah Hijab’s Online Shop. The t test results show that both product quality and price variables each have a positive and significant influence on customer loyalty. Conclusion: Liah Hijab’s online shop must continue to maintain and improve the quality of the products they have. Furthermore, product pricing also needs to be considered in order to maintain customer loyalty.

Asymmetric Effect of Oil Prices on Kazakhstan’s Stock Market Index and Exchange Rate

In this study, the asymmetric effect of oil prices in Kazakhstan on the exchange rate (USD/KZT) and Kazakhstan stock market index (KASE) returns was analyzed using the non-linear ARDL cointegration (NARDL) method with monthly data for the period January 2010-February 2024. As a result of the findings of the study, both positive and negative changes in oil prices statistically affect stock returns and exchange rates in the long term. The estimated long-term positive (0.115982) and negative (0.111234) coefficients of oil prices on KASE returns were found to be statistically significant at the 5% significance level. Thus, in the examined period, the KASE variable gave different reactions to positive or negative shocks in the oil price. In the model where the exchange rate is the dependent variable, the estimated long-term positive (-0.093875) and negative (-0.092918) coefficients of oil prices were found to be statistically significant at the 95% reliability level.

Process improvement under the reference price effect

Cost-reducing process improvement, leading to price reductions and consequently sales growth, is becoming increasingly relevant in today’s uncertain economic environment. However, existing process improvement studies involving sales growth typically assume that consumers only consider the current price of a product when making a purchase. In reality, sales growth also often stems from the reference price effect, where consumers factor in both the current and past prices. By incorporating the reference price effect, we examine the process improvement investment decisions and pricing strategies in a decentralized supply chain. We develop a two-period game-theoretic model, where the supplier invests in process improvement to reduce production costs, and the supplier and the retailer set their prices. This approach differs from existing reference price effect literature, where prices are predetermined exogenously in a decentralized supply chain. We find that the reference price effect stimulates process improvement investment, making both firms more profitable. However, a more prominent reference price effect may significantly decrease supply chain efficiency in the presence of process improvement, resulting in lower profits that move away from what an integrated firm would achieve. When firms set their own prices, the reference price effect intensifies competition for profits and worsens misalignment caused by process improvement. This outcome contrasts with existing studies, which usually argue that the reference price effect increases efficiency. Therefore, managers should consider consumer responses to price changes when making process improvement investment decisions and analyze their impacts on both supply chain profitability and efficiency.

The effect of earnings management and price to book value on stock returns at PT Sampoerna Agro Tbk for the Period 2013 – 2023

This research aims to determine the influence of Profit Management and Price to Book Value (PBV) variables on stock returns at PT Sampoerna Agro Tbk. This type of research is quantitative. The data analysis technique used is panel data regression with an 11 (eleven) year time series, namely the 2013-2023 period and 1 (one) company. Based on the results of the partial test (T test) for Profit Management, the T value obtained is 0.846 with a significance of 0.420. Because Tcount < Ttable (0.846 < 2.262) and the significance value < significant level (0.420 > 0.05). So the conclusion is that Earnings Management has no effect and is not significant on Stock Returns. The research results for Price to Book Value (PBV), obtained a T value of 1.005 with a significance of 0.341. Because Tcount < Ttable (1.005 < 2.262) and the significance value < significant level (0.341 > 0.05). So the conclusion is that Price to Book Value (PBV) has no positive effect on Stock Returns. The results of simultaneous hypothesis testing (F test) can be seen that the Fcount value is 0.956 which is smaller than Ftable of 4.46 or 0.956 <4.46 as for the significance value amounting to 0.424 is greater than 0.05 or 0.424 > 0.05, so it can be concluded that Earnings Management and Price to Book Value simultaneously do not have a significant effect on Stock Returns.

The Impact of Popluation Density on Fertility Rate: Mediating Effects of Gender Ages and Land Price

The Impact of Popluation Density on Fertility Rate: Mediating Effects of Gender Ages and Land Price

EFFECT OF FUEL SUBSIDY REMOVAL ON THE NIGERIAN ECONOMY: A STUDY OF ADAMAWA CENTRAL SENATORIAL DISTRICT

The paper examined the effect of fuel subsidy removal on the Nigerian Economy: A study of Adamawa Central Senatorial District. The economic development of a society is vital for the welfare, and satisfaction of the needs of members of the society. Since Nigeria’s independence in 1960 to the current political dispensation, several efforts were made to accelerate economic development. However, in spite of several policies initiated and implemented in Nigeria, the country appears to be at the economic crossroad and faces a dilemma of economic development. Fuel subsidy is one of such policies initiated and implemented in Nigeria. The federal government operated fuel subsidy with the aim of making petroleum products available to cushion the effect of actual market prices of the product on the general populace for several decades. Recently, the removal of fuel subsidy has generated mixed reactions in the political process. The study utilized primary and secondary sources of data generation. Data were obtained from published and unpublished materials like books, magazines, journals, newspapers etc. The study revealed that the removal of the fuel subsidy has been met with considerable skepticism and concern among the public because government has not adequately addressed the implications of this policy change, particularly regarding transparency, social equity, and its economic benefits. The study therefore recommends the need to conduct comprehensive impact assessments before implementing policy changes, like subsidy removal, is essential. These assessments should involve stakeholder consultations, particularly with communities that would be directly affected. Understanding the potential socio-economic implications of such changes can help the government make informed decisions and develop strategies that mitigate negative impacts on vulnerable populations.

The Effect of Price on Consumer Purchase Decisions

This study aims to determine whether financial inclusion has a positive effect on the sustainability of the SME sector in Lotu District, North Nias Regency, and to determine how much influence financial inclusion has on the sustainability of the SME sector, and to determine whether financial inclusion can overcome the challenges experienced by SME actors. The study was conducted in Lotu District, North Nias Regency. The research method used is a quantitative method with data collection through the distribution of questionnaires, documentation, and interviews, observations. The respondents in this study were 63 SME respondents. The results of this study indicate that the influence of financial inclusion has an influence on the sustainability of the SME sector by 20.4%. With increasing financial inclusion, it will further encourage SME actors to develop their businesses in the future.

Every cloud has a silver lining: Winners and losers from droughts

The paper aims to analyse the socioeconomic impacts of the 2022 drought on Italian agriculture, focusing on its distributive effects either from the sectoral or the regional perspective. A methodology based on consumer surplus theory was adopted. This allowed for identifying and quantifying impacts in terms of overall well-being for two different stakeholders: farmers and consumers. The change in well-being recorded for each is determined by the sum of two significant effects: the "price effect” and the "quantity effect”. Interestingly, while consumers suffered economic losses due to the 2022 drought (“losers”), most farmers, thanks to the "price" effect, not only did not lose but gained (“winners”). Demand elasticity is affecting the patterns of distribution. Our results challenge a simplistic understanding of the economic effects of droughts and have numerous implications for policy.

Pengaruh Lokasi, Harga, dan Word of Mouth Terhadap Keputusan Pembelian pada Rumah Makan Mie Mustanir Cabang M. Yamin Kota Samarinda

This research aims to determine the effect of location, price, and word of mouth on purchasing decisions partially and simultaneously. This study uses a type of quantitative research through an associative approach with a Likert scale. The sampling technique used in this study was accidental sampling technique with a sample of 105 respondents from consumers of Mustanir Noodle Restaurant, M. Yamin Branch. Hypothesis testing in this study using statistical software SPSS version 26. The results showed that partially the price and word of mouth variables had a significant effect on purchasing decisions, but the location variable had no significant effect partially on purchasing decisions. Simultaneously, the three variables have a significant effect on purchasing decisions at the Mustanir Noodle Restaurant, M. Yamin Branch.

Influence Analysis of The Factors Determining Consumer Decisions on The Marketing Performance of J&T Express in Pontianak

Digital technology, such as e-commerce, has changed the way people live by providing convenience, speed, comfort and efficiency. Freight forwarding services are vital in online transactions to deliver goods from sellers to buyers. The purpose of this study was conducted to determine the effect of customer orientation, promotional attractiveness, and competitive pricing on marketing performance. This research method uses the causality method which aims to test how much the cause-and-effect relationship between the independent variable and the dependent variable is. The population of this study were consumers totaling 13,577, from 2018-2023, and a sample of 100 respondents. The data analysis technique uses quantitative data analysis and uses a range scale measurement. The results of simultaneous testing (F test) indicate that customer orientation, promotional attractiveness, and competitive prices have a significant effect on marketing performance. The results of persial testing (t test) show that customer orientation, promotional attractiveness, and competitive prices have a significant effect on marketing performance.

The Art of Balancing Price and Plug: Developing a Theoretical Model for Dynamic Pricing in the Electric Vehicle Market

This study presents a novel approach to understanding the complex dynamics of the electric vehicle (EV) market through the lens of differential game theory. We developed a comprehensive model that captures the strategic interactions between EV manufacturers and charging network operators, while incorporating the effects of consumer behavior, market uncertainties, and reference price effects. Using differential game theory, we examined the impact of reference price effects and the charging network’s influence on pricing strategies, focusing on three distinct approaches: basic pricing, static pricing considering reference price effects, and dynamic pricing strategies. Our model offers new insights into consumer behavior and price expectations in the rapidly evolving EV market. The key findings reveal that under static or dynamic pricing strategies, the optimal pricing for EV manufacturers is positively correlated with the initial reference price. When the initial reference price is high (low), the optimal pricing strategy resembles skimming pricing (penetration pricing). As the effort level of charging network operators increases and their influence on consumers’ purchase decisions grows stronger, EV manufacturers tend to set higher prices. Notably, while dynamic pricing strategies can optimize EV manufacturers’ profits, the profits of charging network operators may decrease compared with static pricing strategies. This integrated approach significantly contributes to the field by bridging gaps among market dynamics, pricing strategies, and the infrastructure’s development in the context of electric mobility, providing a comprehensive framework for understanding and optimizing the EV ecosystem. Ultimately, this study advances sustainable business models that balance profitability, consumer behavior, and the infrastructure’s growth in the rapidly evolving EV market.