Price Information Research Articles

House price expectations

This study examines short-, medium-, and long-run price expectations in housing markets. At the heart of our analysis is the combination of data from a tailored in-person household survey, past sale offerings, satellite imagery on developable land, and an information treatment (RCT). As novel finding, we show that price expectations show no evidence for momentum-effects in the long run. We also do not find much evidence for behavioural biases in expectations related to individual housing tenure decisions. Confirming existing findings, we find momentum-effects in the short-run and that individuals, to a limited extend, use aggregate price information to update local expectations. Lastly, we provide suggestive evidence corroborating existing findings that expectations are relevant for portfolio choice.

Kebijakan Pemerintah dalam Mengatasi Kenaikan Harga Beras di Indonesia

Introduction: BPS recorded that Indonesia's inflation or Consumer Price Index (CPI) was 3.27 per cent in August 2023 annually, causing retail rice prices in August 2023 to increase by 1.43 per cent and rise by 13.76 per cent. This research aims to analyze government policies in dealing with rising rice prices in Indonesia in 2023. Research Methods: The method used is a qualitative method with a literature study approach. With types and sources of secondary data obtained from journals, the Central Statistics Agency and the National Strategic Food Price Information Center. Results: The results of this research show that to overcome this problem, the government is carrying out: 1.) importing rice from several rice-producing countries, 2.) ensuring rice reserves in Perum Bulog, 3.) carrying out market operations, 4.) holding a cheap food movement, 5.) Urge the public not to panic buying, 6.) Distribute 10 kilograms of rice aid to Beneficiary Families (KPM). Conclusion: Apart from these short-term policies, the government must also make long-term policies, such as increasing rice production and distribution.

Departmental Store Management System

A Departmental Store Management System (DSMS) is a software application that utilises a series of protocols to synchronise the activities of numerous processes on a network. This ensures that all components work together harmoniously to carry out a single or a few closely linked tasks. This approach is beneficial for individuals who already have an established shop and wish to attract attention to their stores. It is user-friendly. This system is specifically tailored to meet the company's unique requirements and facilitate efficient and seamless operations. The application is minimized to minimize data input errors. The system establishes an online production system that allows a manufacturing business to plan its manufacturing operations according to the daily sales updates received from its dealers. After the dealers input the sales numbers of items from the previous week and submit orders for the next delivery online, a production schedule for the following week will be created. A report detailing the necessary raw materials or components will be created, and the product specifications will be transmitted online. Suppliers will be requested to provide their pricing information. After receiving the quoted rates, the order will be promptly placed according to the specified delivery schedules. Upon receipt of the parts, the stocks will be promptly updated. Subsequently, a comprehensive production plan will be prepared, taking into account the bill of materials. Upon approval of the production plan, the inventory will be updated upon issuance of the material. Upon the availability of the finished products, the delivery schedules will be developed according to the orders placed by the Dealers. The inventory held by the dealers will also be managed.

Eye Tracking-based Analysis of Customer Interest on The Effectiveness of Eco-friendly Product Advertising Content

Amid the escalating environmental crisis that has prompted consumers to adopt eco-friendly lifestyles, the popularity of eco-friendly personal care products is increasing significantly. Nevertheless, marketing these products presents challenges that include inadequate product information, perceived unaffordable prices, and relatively low consumer trust. These challenges present an opportunity for the marketing field to increase consumer interest, particularly through advertising, an important medium for disseminating product information. Recognizing the importance of advertising components in influencing consumer preferences, this study uses eye-tracking to identify critical elements in promoting eco-friendly personal care products. The components examined include information on environmental and personal benefits, the presence or absence of price information, and the presentation of an environmental label (logo and text) in advertising. Each of the 43 participants is confronted with eight carefully crafted advertising stimuli. The results of the study highlight the significant influence of clear benefits and price information on consumer preferences, while indicating that eco-label display does not have a significant impact on consumer preference. This research is intended to serve as a source of actionable marketing strategies and is intended to help promote eco-friendly products and increase consumer interest through targeted and effective advertising.

Market Integration of Small-Scale Farms: Exploring the Bambara Groundnut Markets in Nigeria

The extent of uncertainty caused by price inefficiency and instability with reference to Bambara groundnut has made the subsector a dicey one. Markets that are not integrated may convey inaccurate price signals that might distort producers’ marketing decisions and contribute to inefficient product movement. The study analyzed the market integration of Bambara groundnut in South-east, Nigeria. The study population comprised all Bambara groundnut marketers in South-east, Nigeria. Out of the five states in South-east, Nigeria, two States will be purposively selected as the study area to establish the movement of prices between the two states to establish a fair comparison of prices between the producing zone and consumption zone. The choice of the two states was based on the predominance of Bambara groundnut marketers. A two-stage sampling technique was adopted in selecting 221 respondents that were interviewed for the study. Data for this study was poised from primary sources using a well-structured questionnaire, oral interviews and direct observations of Bambara groundnut marketers and was analyzed using descriptive and inferential statistics.- The results of the VECM showed that Enugu urban retail prices had a short-run influence of -0.057 although not signicant and a long-run significant influence of -0.2391 on Abia urban retail prices. The results of the VECM estimates for both short-run and long-run relationships indicated that the Enugu rural price of Bambara groundnut had short-run influences of -0.034023 and 0.0032032 with a long-run influence of -0.203230 on Abia rural price. The study recommended that to improve pricing effectiveness and market integration, it is necessary to encourage Bambara groundnut market price information in South-east Nigeria. The flow of information regarding Bambara groundnut prices, demand, and supply will improve both market integration and pricing effacing. The government should create regulations for information services. How to Cite: Agbo Josephine Nkechi, Okpukpara Benjamin C., Ude Kingsley David, Udemba Klinsmann Uche., 2023. "Market Integration of Small-Scale Farms: Exploring the Bambara Groundnut Markets in Nigeria." Journal of Agriculture and Crops, vol. 10, pp. 11-19.

Political Connection Effect towards Firm Value

Political Connection, or the connection that a firm have to the government, can be an interesting subject for accounting research. Political connection can give advantage to the firm. This study wants to determine the effect of existing political connection in a firm to the firm value. Political connection as the independent variable is measured by using dummy variable. While firm value as the dependent variable will be measured by Tobin’s Q. The data that are used in this study are secondary data of mining firms listed on the Indonesian Stock Exchange in 2017-2022 and also stock price information from Indonesian stock exchange website. In this study, purposive sampling is used where 37 mining firms are selected. The result of the study indicate that political connection does not have a significant impact on mining firms value. Thus, this study emphasize that investors have less interest on making political connection that mining firms have as a value

How Foods and Beverages Are Promoted Online: A Content Analysis of the Digital Food Environment in China.

Digital platforms such as social media and e-commerce platforms have become a major space where foods and beverages (F&B) are promoted. Prior research has found that online, unhealthy F&B receive more presence than healthy F&B. This obesogenic food environment may increase the obesity rate. Therefore, it is critical to understand how healthy and unhealthy F&B are promoted online. A content analysis of 2906 posts related to F&B via five digital platforms was conducted in China, where the obesity rate has increased in recent years. Firstly, the results show that unhealthy F&B received more presence on digital platforms than healthy F&B. Secondly, healthy F&B posts tended to highlight the healthiness of the products, whereas unhealthy F&B posts leveraged a wide range of promotional strategies, specifically use cues, food cues, chewing sounds, sensory descriptions, friend cues, local cultural appeal, nostalgia appeal, price information, discount information, and trending hashtags or topics. Next, use cues, chewing sounds, sensory descriptions, family cues, and friend cues increased the quantity of audience feedback, whereas price information and using trending hashtags or topics lowered the quantity of audience feedback. Moreover, local cultural appeal and social proof exhibited the opposite impact on audience feedback. Finally, health benefit statements lowered audience feedback for healthy F&B posts, whereas brand visibility and purchase links inhibited audience feedback for unhealthy F&B posts. In addition to describing the digital food environment in China, the present research provides implications on how to promote healthy F&B. Particularly, we suggest that healthy F&B businesses and healthy eating campaigns should leverage the strategies unhealthy F&B use to receive more consumer attention, in order to increase their own products' public visibility and attractiveness.

Deceiving Two Masters: The Effects of Labor Market Incentives on Reporting Bias and Market Efficiency

ABSTRACT We study a model in which financial reports are used in labor markets to learn about managerial talent. A manager manipulates reports to influence the labor market assessment of his talent. If investors are uncertain about the manager’s incentives, manipulation introduces noise into the report and reduces its usefulness for the capital market. We consider price informativeness and expected reporting bias as measures of capital market efficiency and develop novel empirical predictions. We show that higher uncertainty about the manager’s contribution to firm value can decrease price informativeness and earnings response coefficients. Intuitively, supplemental disclosures about managerial talent can mitigate the detrimental consequences of uncertain labor market incentives. Perhaps surprisingly, we show that the usefulness of such supplemental disclosures may increase in their susceptibility to manipulation.

Implicit government guarantees, media tone and bond pricing

AbstractBy exploiting the first public bond default event in China—the Chaori bond default in 2014—we examine how implicit government guarantees shape the role of media information in bond pricing. We find an insignificant association between preissuance media tones and bond issuances’ yield spreads before the event; however, the association becomes negative and significant after the event. The role of media tone in bond pricing is more pronounced for regions with greater information demand for default risk and for media outlets with stronger information provisions toward implicit government guarantees after the event. Mechanism analyses suggest increased bond investors’ risk awareness, rather than strengthened information provisions in media tones, as the force behind the more pronounced role of media tone in bond pricing. Finally, lower yield spreads driven by more positive media tone do not suggest bond overpricing. Our study reveals the role of media tone in bond pricing and displays the evolution of the media tone's role in bond pricing due to changing institutions.

The Effect of Posted Prices on Auction Prices: An Empirical Investigation of a Multichannel B2B Market

Although multichannel sales strategies have become common due to the use of advanced information technologies, how one trading mechanism can influence the outcome of another, especially in the B2B market, remains largely underexplored. This paper investigates the effect of price and quantity information from an online posted-price presales channel on the performance of the century-old sequential Dutch auction system. Sellers can control the price paid and make a proportion of their stock available in auction presales. Anything left after presales is sold via auctions. Our analysis of nearly 1.5 million flower lots reveals a positive effect with higher auction prices and total revenue for lots listed in presales than for lots that are not. The result holds even for lots with no actual sales in the presales, indicating that buyers pay close attention to the additional information from the posted-price presales channel. By teasing out the information effect of presales prices and presales quantity on auction prices, we evaluate a number of pricing strategies. The results suggest that selling at a high price in presales is still more beneficial than selling more by discounting prices.

ShopWisely - The Ultimate Price Comparer

Abstract: Customers are faced with an abundance of options in the quickly changing world of online shopping and food delivery, which makes it difficult and time-consuming to find the best offers and affordable solutions. ShopWisely has come to light as a trailblazing answer to this problem, providing consumers with a thorough platform for comparing costs from top e-commerce sites like Amazon and Flipkart as well as popular meal delivery services like Zomato and Swiggy. ShopWisely is an online project that makes it easy for people to make educated purchases. It accomplishes this by compiling real-time pricing information from several sources, giving consumers a comprehensive picture of their choices. With an attractive and userfriendly design, the platform's main objective is to expedite the online shopping and meal ordering process, eventually

An Analysis of the Correlation between Stock Price Fluctuations and Social Media Traction

This paper aims to identify the correlation between stock performance and social media traction during 2020. It analyzes data from three different investment-focused communities within the social media platform Reddit. This data is compared to the historical financial data of six stocks across six different industries in the year 2020. The number of posts with the name of the stock within the original post each week is compared to the absolute percent change between market open to close for that week. As a control, data from the same time frame on the SPDR S&P 500 ETF Trust is used for comparison with the experimental data. All of the stock price information was taken from Yahoo! Finance. This study reveals that there is a statistically significant positive correlation between stock price change and number of Reddit posts each week. The observed correlation between stock performance and social media patterns has a significant impact in determining future stock volatility and predicting short-term investor sentiment.

Hospital Prices in Medicaid Managed Care

This cross-sectional study uses hospitals’ self-disclosed pricing information to characterize Medicaid managed care hospital prices.

The use of asset growth in empirical asset pricing models

We show that the performance of the new factor models of Hou et al. (2015) and Fama and French (2015) depends crucially on how their investment factor is constructed. Both models use growth in total assets to measure investment. Their ability to price the cross-section of returns decreases significantly when the investment factor is constructed using traditional investment measures, or measures that also account for investment in intangibles. In contrast, we find that factors based on growth in inventory and accounts receivable contain the bulk of the pricing information in the asset growth factor. We show evidence that the superior performance of the asset growth factor seems to be attributable to its ability to capture aggregate shocks to equity financing costs.

The impact of consumer expectations and familiarity on deceptive pricing in advertising: a view from drip pricing practice

Drip pricing practice, which involves promoting a seemingly low initial price and then introducing add-on price components without upfront disclosures, is commonly seen as a deceptive advertising practice that can lead to negative associations. Here, we provide an alternative perspective by investigating that whether consumers form positive or negative opinions about drip pricing depends on their expectation of encountering it and their overall familiarity with this practice. That is, this research reveals that when consumers’ general familiarity with drip pricing is low, higher expectations of drip pricing create greater perceptions of price fairness and purchase intentions. Moreover, our findings indicate that higher consumer expectations of drip pricing lead to positive attributions and evaluations of the detailed pricing information, resulting in higher perceptions of price fairness, which, in turn, increases purchase intentions. Further, we show that when consumers have high expectations of encountering drip pricing, they evaluate ­pricing information more positively and deception less harshly, resulting in greater purchase intentions than when they do not expect it.

To be or not to be compliant? Hospitals' initial strategic responses to the federal price transparency rule.

To understand US hospitals' initial strategic responses to the federal price transparency rule that took effect January 2021. Primary interview data collected from 12 not-for-profit hospital organizations in six US metropolitan markets. All but one organization were multihospital systems; the 12 organizations represent a total of 81 hospitals. Exploratory, cross-sectional, qualitative interview study of a convenience sample of hospital organizations across six geographically and compliance diverse markets. In-depth, semi-structured, qualitative interviews with 16 key informants across sampled organizations between November 2021 and March 2022. Interviews solicited data about internal organizational factors and external market factors affecting strategic responses. Transcribed interviews were de-identified, coded, and analyzed using the constant comparative method. Hospitals' strategic responses were influenced internally by the degree of the regulation's alignment with organizational values and goals, and task complexity vis-a-vis available resources. We found extensive variation in organizational capabilities to comply, and all but one organization relied on consultants and vendors to some degree. Key external factors driving strategic responses were hospitals' variable perceptions about how available price information would affect their competitive position, bottom line, and reputation. Organizations with more confidence in their interpretation of the environment, including how peers or purchasers would behave, and greater clarity in their own organization's position and goals, had more definitive initial strategic responses. In the first year, organizations' strategic responses skewed toward compliance, especially for the rule's consumer shopping requirements. A deeper understanding of the realities of operationalizing price transparency policy for hospitals is needed to improve its impact.

Does mandatory tax disclosure mitigate tax expense anomaly? Evidence from FIN 48

Financial Interpretation No. 48 (FIN 48) mandates the disclosure of uncertain tax positions for U.S. public firms. Exploring its impact on market efficiency, we find a reduction in the tax expense anomaly as documented by Thomas and Zhang (2011) for affected firms. The effect is stronger for affected firms with higher disclosure quality, accuracy, and transient institutional shareholding, and it cannot be explained by increased analyst tax forecasts or decreased predictability of tax expenses for future profitability. Our findings suggest that the mandatory tax disclosure under FIN 48 encourages investors to assess the implications of tax information for stock prices.

Price dispersion across online platforms: evidence from hotel room prices in London (UK)

ABSTRACT This paper studies the widespread price dispersion of homogeneous products across different online platforms, even when consumers can easily access price information from comparison websites. We collect data for the 200 most popular hotels in London (UK) and document that prices vary widely across booking sites while making reservations for a hotel room. Additionally, we find that prices listed across different platforms tend to converge as the booking date gets closer to the date of stay. However, the price dispersion persists until the date of stay, implying that the law of one price does not hold. We present a simple theoretical model to explain this and show that in the presence of aggregate demand uncertainty and capacity constraints, price dispersion could exist even when products are homogeneous, consumers are homogeneous, all agents have perfect information about the market structure, and consumers face no search costs to acquire information about the products. Our theoretical intuition and robust empirical evidence provide additional insights into price dispersion across online platforms in different institutional settings. Our study complements the existing literature that relies on consumer search costs to explain the price dispersion phenomenon.

Behavioural pricing effects in tourism: A review of the empirical evidence and its managerial implications

During recent decades, behavioural pricing research has accumulated to represent an expansive subset of pricing research addressing how humans perceive, process, and evaluate price information. However, the insights and managerial implications of behavioural pricing research are still fragmented and hardly prepared for specific fields of application. This article provides an integrative review of the effects of behavioural pricing in the tourism field. Taking an application-oriented perspective, we propose a framework for describing how price perceptions may be influenced by (1) the presentation of prices, (2) the presentation of the choice set, (3) the communication accompanying the price, and (4) the design of payment parameters. We use this framework to structure and synthesize the empirical evidence on the effects of behavioural pricing in the tourism context. Our search for papers considering behavioural pricing effects that included either or both the terms tourism and travel in both the tourism and marketing literature identified 100 articles from the period between 1995 and 2022. The findings should provide a more comprehensive understanding of how behavioural pricing can be applied in tourism practice. Besides managerial implications, we discuss unresolved issues and offer an agenda for further empirical research on behavioural pricing in the tourism context.

IMPACT OF THE IMPLEMENTATION OF THE NEW QUARTER-HOURLY MODEL ON A WIND FARM IN THE PENINSULAR ELECTRICITY SYSTEM

Electricity sector, in global terms, has undergone significant and severe structural changes, with the aim of allowing free choice for energy consumers and achieving greater competition between markets. In this regard, quarter-hourly deviations are promoted by European regulations for the purpose of energy market management. The EU requires electricity suppliers to provide data on their energy production and consumption every 15 minutes. This requirement has been designed to promote transparency and competition in the energy market. Until now, Spain has used an hourly deviation settlement system, so the implementation of this new model will entail a complex and gradual change. In fact, the introduction of a quarter hourly market would enable consumers to access more frequent pricing information, which would help them make more informed decisions about their energy usage. This would also create opportunities for more sophisticated demand-side management strategies, such as real-time pricing and automated demand response. Although the integration of the electrical sector is an important aspect of the EU's broader efforts to create a single energy market and reduce carbon emissions, there are still significant challenges to be overcome, such as the need to improve grid infrastructure, ensure the security of supply, and harmonize regulatory frameworks across member states. The main objective of this article is to study the impact that the implementation of the new quarter-hourly model will have in a wind farm, given the intrinsic variability of this energy source and the current reliability of prediction systems. With continued advancements in technology and improved forecasting techniques that allow suppliers to adjust their operations in real-time based on changing conditions, it is likely that the uncertainty of unmanageable units will continue to decrease over time, making them an even more reliable and efficient source of clean energy in the future. Keywords: Quarter-hourly model, imbalances, electricity market, wind energy, hourly deviation settlement system