Markets, Consumers and Firms

Markets, Consumers and Firms

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  • Author: Brian Ellis
  • Publisher:
  • ISBN: 9781780140131
  • Category :
  • Languages : en
  • Pages : 116


Introduction to Business

Introduction to Business

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  • Author: Lawrence J. Gitman
  • Publisher:
  • ISBN: 9781998109319
  • Category :
  • Languages : en
  • Pages : 0


Transient Market Power of Firms

Transient Market Power of Firms

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  • Author: T.V.S. Ramamohan Rao
  • Publisher: Cambridge Scholars Publishing
  • ISBN: 1527572714
  • Category : Business & Economics
  • Languages : en
  • Pages : 194

Every firm in the market for industrial products offers a distinct value to consumers. As such, they derive some market power based on the intrinsic value of their products. However, firms often utilize non-price strategies to reveal value to consumers because both the consumers and firms experience information asymmetry with respect to such value. They may also orient some strategies to increase their market share. In general, non-price strategies contain information about value beyond the market shares they achieve, and the shifts in market demand provide the firm with some transient market power. This book indicates that, given the transaction costs to the consumers, of switching between products, the increase in demand tends to be of a longer-term nature. It will not be eliminated over time, as is often conjectured. Measures of the intrinsic value of products, transient market power, and the changes in non-price strategies of firms that tend to perpetuate it are also defined and estimated in the text.


Consumer Search Behavior and Its Effect on Markets

Consumer Search Behavior and Its Effect on Markets

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  • Author: Brian T. Ratchford
  • Publisher: Now Publishers Inc
  • ISBN: 1601982003
  • Category : Consumers
  • Languages : en
  • Pages : 89

Consumer Search Behavior and its Effect on Markets focuses on the consumer side of the market, on what is known about how consumers search for needed information, and on how this impacts the behavior of markets. The author discusses three broad strands of this literature -- normative models of search and their application to consumer search; empirical studies of the search process; and implications of consumer search for the behavior of markets, including pricing, advertising and retailing. In general, the author examines external search -- the search for information from sources other than memory. Particular attention is paid to the impact of the Internet on markets. Consumer Search Behavior and its Effect on Markets also examines the broader issues about alternatives considered, sources consulted, extent of consumer knowledge, and the impact of these factors on markets and marketing institutions.


The Theory of the Firm

The Theory of the Firm

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  • Author: Daniel F. Spulber
  • Publisher: Cambridge University Press
  • ISBN: 0521517389
  • Category : Business & Economics
  • Languages : en
  • Pages : 542

The Theory of the Firm presents an innovative general analysis of the economics of the firm.


Market Structure Analysis, Ch 1

Market Structure Analysis, Ch 1

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  • Author: James H. Myers
  • Publisher: Marketing Classics Press
  • ISBN: 1613111908
  • Category : Business & Economics
  • Languages : en
  • Pages : 17


Markets and Power

Markets and Power

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  • Author: Eric A. Schutz
  • Publisher: Routledge
  • ISBN: 1315501120
  • Category : Business & Economics
  • Languages : en
  • Pages : 209

In what ways do the actions and economic behavior of today's multinational corporations resemble the functioning and processes of the old command economics of the Soviet Union? By ignoring questions about power relations in markets, mainstream neoclassically-oriented economists conclude that there are no significant power structures operating in market systems to control allocation and distribution. This book argues to the contrary that there are fundamental and systemic power structures - monopoly, access to information or finance, employer power, etc. - at work in market economies, which affects their ability to achieve real "competition" in much the same way as state-controlled, command economies hinder business activities. Thus, for example, the biggest firms at the hubs of financial "networks" wield a kind of "shaping power" upon large numbers of relatively autonomous firms, not only upon those that belong to the networks but also on the many firms outside them that are also affected.


Consumer Capitalism

Consumer Capitalism

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  • Author: Gunnar Trumbull
  • Publisher: Cornell University Press
  • ISBN: 9780801443824
  • Category : Business & Economics
  • Languages : en
  • Pages : 220

"The unfettered marketplace, in which uncertainty rules and the admonition caveat emptor ('let the buyer beware') dictates each consumer decision, has today virtually disappeared. Consumers have become the focus of intensive economic policymaking designed to protect them from the risks and disappointments of the market.... Today, arguably no other economic actor in the advanced industrial countries--not the investor, not the worker, not the welfare recipient--enjoys a more thorough set of legal and institutional protections than the modern consumer when he or she enters the corner store."--from the IntroductionGunnar Trumbull investigates the origins of national systems of consumer protection in France and Germany, where, in the early 1970s, consumer groups and producers organized to advance their own ideas about the identity and interests of the affluent consumer. Through a comparison of eight areas of policy--product liability law, product safety standards and recall, misleading advertising, comparative product tests, product labeling, quality standards, consumer contracts, and pricing--Trumbull shows that different conceptions of the consumer interest emerged in the two countries. The result was the development of distinctive national consumption regimes, which have in turn influenced the market strategies of domestic producers. Trumbull's findings help to clarify distinctive national approaches to recent product crises--including cases of BSE and genetically modified foods. His research suggests that, in the age of consumer capitalism, national competitiveness may hinge not only on endowments of labor and capital, but also on the institutional forms of national consumption.


Markets and the Environment, Second Edition

Markets and the Environment, Second Edition

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  • Author: Nathaniel O. Keohane
  • Publisher: Island Press
  • ISBN: 1610916077
  • Category : Business & Economics
  • Languages : en
  • Pages : 328

"A clear grasp of economics is essential to understanding why environmental problems arise and how we can address them. ... Now thoroughly revised with updated information on current environmental policy and real-world examples of market-based instruments .... The authors provide a concise yet thorough introduction to the economic theory of environmental policy and natural resource management. They begin with an overview of environmental economics before exploring topics including cost-benefit analysis, market failures and successes, and economic growth and sustainability. Readers of the first edition will notice new analysis of cost estimation as well as specific market instruments, including municipal water pricing and waste disposal. Particular attention is paid to behavioral economics and cap-and-trade programs for carbon."--Publisher's web site.


Advertising and the Marketplace

Advertising and the Marketplace

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  • Author: Pepall, Lynne
  • Publisher: Edward Elgar Publishing
  • ISBN: 1788978129
  • Category : Business & Economics
  • Languages : en
  • Pages : 294

This accessible and comprehensive textbook explores the role of advertising in the marketplace. It investigates how firms’ advertising strategies are informative, persuasive or add value to the product advertised. The book explains in detail empirical methodologies used to identify the impact of advertising on consumer demand and on market structure and reviews some recent empirical findings. It concludes with an in-depth exploration of digital advertising and auctions along with a framework for current antitrust investigations into two-sided platforms (Google, Facebook) that are funded by advertising revenues.