Pub Date : 2018-02-24DOI: 10.1007/s11129-018-9203-7
Justin M. Rao, Andrey Simonov
{"title":"Firms’ reactions to public information on business practices: The case of search advertising","authors":"Justin M. Rao, Andrey Simonov","doi":"10.1007/s11129-018-9203-7","DOIUrl":"https://doi.org/10.1007/s11129-018-9203-7","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2018-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-018-9203-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43110028","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Microfinance can be an important tool for fighting global poverty by increasing access to loans and possibly lowering interest rates through microlending. However, the dominant mechanism used by online microfinance platforms, in which intermediaries administer loans, has profound implications for borrowers. Using an analytical model of microlending with intermediaries who disburse and service loans, we demonstrate that profit-maximizing intermediaries have an incentive to increase interest rates because much of the default risk is transferred to lenders. Borrower and lender interest rate elasticities can serve as disciplining mechanisms to mitigate this interest rate increase. Using data from Kiva.org, we find that interest rates do not affect lender decisions, which removes one of these disciplining mechanisms. Interest rates are high, around 38% on Kiva. In contrast, on an alternative microfinance platform that does not use intermediaries, Zidisha, interest rates are only around 10%, highlighting the dramatic impact of intermediaries on interest rates. We propose an alternative loan payback mechanism that still allows microfinance platforms to use intermediaries, while removing the incentive to increase interest rates due to the transfer of risk to lenders.
{"title":"Risk transfer versus cost reduction on two-sided microfinance platforms","authors":"B. Bollinger, Song Yao","doi":"10.2139/ssrn.2816421","DOIUrl":"https://doi.org/10.2139/ssrn.2816421","url":null,"abstract":"Microfinance can be an important tool for fighting global poverty by increasing access to loans and possibly lowering interest rates through microlending. However, the dominant mechanism used by online microfinance platforms, in which intermediaries administer loans, has profound implications for borrowers. Using an analytical model of microlending with intermediaries who disburse and service loans, we demonstrate that profit-maximizing intermediaries have an incentive to increase interest rates because much of the default risk is transferred to lenders. Borrower and lender interest rate elasticities can serve as disciplining mechanisms to mitigate this interest rate increase. Using data from Kiva.org, we find that interest rates do not affect lender decisions, which removes one of these disciplining mechanisms. Interest rates are high, around 38% on Kiva. In contrast, on an alternative microfinance platform that does not use intermediaries, Zidisha, interest rates are only around 10%, highlighting the dramatic impact of intermediaries on interest rates. We propose an alternative loan payback mechanism that still allows microfinance platforms to use intermediaries, while removing the incentive to increase interest rates due to the transfer of risk to lenders.","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2018-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.2816421","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46268013","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-01-12DOI: 10.1007/s11129-023-09263-y
B. Bollinger, Steven Sexton
{"title":"Local excise taxes, sticky prices, and spillovers: evidence from Berkeley’s soda tax","authors":"B. Bollinger, Steven Sexton","doi":"10.1007/s11129-023-09263-y","DOIUrl":"https://doi.org/10.1007/s11129-023-09263-y","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2018-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44071166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-29DOI: 10.1007/s11129-017-9196-7
Jianqiang Zhang, Zhuping Liu, Raghunath Singh Rao
{"title":"Flirting with the enemy: online competitor referral and entry-deterrence","authors":"Jianqiang Zhang, Zhuping Liu, Raghunath Singh Rao","doi":"10.1007/s11129-017-9196-7","DOIUrl":"https://doi.org/10.1007/s11129-017-9196-7","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-017-9196-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52621476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-29DOI: 10.1007/s11129-017-9194-9
Weijia Dai, G. Jin, Jungmin Lee, Michael Luca
{"title":"Aggregation of consumer ratings: an application to Yelp.com","authors":"Weijia Dai, G. Jin, Jungmin Lee, Michael Luca","doi":"10.1007/s11129-017-9194-9","DOIUrl":"https://doi.org/10.1007/s11129-017-9194-9","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-017-9194-9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49336466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-17DOI: 10.1007/s11129-017-9193-x
Katja Seim, Maria Ana Vitorino, David M. Muir
{"title":"Do consumers value price transparency?","authors":"Katja Seim, Maria Ana Vitorino, David M. Muir","doi":"10.1007/s11129-017-9193-x","DOIUrl":"https://doi.org/10.1007/s11129-017-9193-x","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-017-9193-x","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52621851","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-03DOI: 10.1007/s11129-017-9192-y
Anna E. Tuchman, Harikesh S. Nair, Pedro M. Gardete
{"title":"Television ad-skipping, consumption complementarities and the consumer demand for advertising","authors":"Anna E. Tuchman, Harikesh S. Nair, Pedro M. Gardete","doi":"10.1007/s11129-017-9192-y","DOIUrl":"https://doi.org/10.1007/s11129-017-9192-y","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-017-9192-y","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47473789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-09-15DOI: 10.1007/s11129-017-9191-z
Romana Khan, Ting Zhu, S. Dhar
{"title":"The effect of the WIC program on consumption patterns in the cereal category","authors":"Romana Khan, Ting Zhu, S. Dhar","doi":"10.1007/s11129-017-9191-z","DOIUrl":"https://doi.org/10.1007/s11129-017-9191-z","url":null,"abstract":"","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s11129-017-9191-z","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41594702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine the role of price transparency in consumer preferences and demand. We assemble a detailed dataset on the driving school industry in Portugal to quantify how firms present the price of the course of instruction, and its individual components, to potential students. Our unique data allows us to estimate a structural model of school choice and measure the impact of varying levels of price information on demand. The results show that consumers are willing to pay a significant amount for price transparency, on average 11% of the service price, and that consumer demographics drive heterogeneous preferences for transparency.
{"title":"Do consumers value price transparency?","authors":"Katja Seim, Maria Ana Vitorino, David M. Muir","doi":"10.2139/ssrn.2868565","DOIUrl":"https://doi.org/10.2139/ssrn.2868565","url":null,"abstract":"We examine the role of price transparency in consumer preferences and demand. We assemble a detailed dataset on the driving school industry in Portugal to quantify how firms present the price of the course of instruction, and its individual components, to potential students. Our unique data allows us to estimate a structural model of school choice and measure the impact of varying levels of price information on demand. The results show that consumers are willing to pay a significant amount for price transparency, on average 11% of the service price, and that consumer demographics drive heterogeneous preferences for transparency.","PeriodicalId":46425,"journal":{"name":"Qme-Quantitative Marketing and Economics","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2017-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.2139/ssrn.2868565","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46886737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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