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Little is known about the motivations and outcomes of sellers in remunerated markets for human materials. We exploit dramatic growth in the U.S. blood plasma industry to shed light on the sellers of plasma. Sellers tend to be young and liquidity-constrained with low incomes and limited access to traditional credit. Plasma centers absorb demand for nontraditional credit. After a plasma center opens nearby, demand for payday loans falls by over 13% among young borrowers. Meanwhile, foot traffic increases by over 4% at nearby stores, suggesting that constrained households use plasma markets to smooth consumption without appealing to high-cost debt. [ABSTRACT FROM AUTHOR]

We study how consumer spending responds to digital payments, using the differential switch to digital payments across consumers induced by the sudden 2016 Indian Demonetization for identification. Digital payment use rose by 2.94 percentage points and monthly spending increased by 2.38% for an additional 10 percentage points in prior cash dependence. Spending remained elevated even when cash availability recovered. Robustness analyses show that the spending response is not driven by purchase substitution, income shocks, credit supply, or price changes. We provide causal evidence that digital payments increase consumer spending due to subdued endowment effects. [ABSTRACT FROM AUTHOR]

Does mental accounting matter for total consumption expenditures? We exploit a unique setting in which individuals exogenously receive a new payment card, without requesting one. Using random variation in the time of receipt, we show that individuals temporarily increase total consumption expenditure by making purchases with the new card without reducing spending on the others. We do not observe a corresponding increase in indebtedness. Total consumption expenditure rises even for the least liquidity-constrained individuals. The evidence is consistent with consumers treating methods of payment as nonfungible budget categories, as suggested by models of mental accounting and narrow bracketing. [ABSTRACT FROM AUTHOR]

Using account-level credit card data from a large Turkish bank, we study the impact of a unique credit card policy that increases minimum payment on consumption and debt repayment. We show that the policy reduces credit card spending and debt, boosts existing debt repayment, and reduces credit card delinquency. The credit card debt of affected consumers falls on average by 50 |$\%$| two years into the policy's implementation. An increase in minimum payment has a stronger effect than does a decrease of a similar magnitude. We build a benchmark life cycle model with soft liquidity constraint to explain the reduction in credit card spending. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

We investigate the impact of COVID-19 on tourism expenditures by analyzing survey data collected from participants of one of the major amateur cycling races in Italy—the Nove Colli. We gathered information from different types of participants (tourists, residents, day-trippers) about their travel expenses, accommodation, food and beverage, and side goods such as sports equipment. The survey covers three race editions: pre-COVID-19 in 2016, post-lockdown in 2021, and post-COVID-19 in 2022, for a total of 2734 respondents. Using a quasi-difference-in-differences approach, we find a significant increase in total tourism expenditures due to COVID-19, primarily driven by a substantial increase in side goods expenses, which more than doubled the rise in food and beverage expenses. This result can be partly explained through revenge spending as a form of compensatory consumption behavior and inform policy-makers on how individuals' spending patterns may change in the aftermath of an exogenous shock. [ABSTRACT FROM AUTHOR]

This paper exploits a recent natural experiment to analyze the effect of volcanic eruptions on tourism expenditure. Using a Difference-in-Differences methodology, we find that volcanic eruptions have a positive impact on tourism expenditure, both aggregate expenditure and expenditure by category, and both during the eruption and the post-eruption period. We investigate the mechanisms behind the increase in expenditure and obtain strong support for the empathy mechanism, prevailing over other mechanisms such as changes in prices, the profile of tourists, or simply curiosity. Our results suggest that tourist empathy with the affected community manifests through consumption, finding that prosocial consumption increases in the cultural identification of the tourist with the affected area. [ABSTRACT FROM AUTHOR]

Purpose: While the monetary returns to education are well documented in the economics literature, the studies on non-monetary returns to education are scarce. The purpose of this study is to provide new insights into the non-market outcomes by exploring how education influences the food consumption choices of households and how these effects vary across different socio-economic groups using household-level calorie consumption data from Sri Lanka. Design/methodology/approach: This study uses two waves of Household Income and Expenditure Surveys – 2006/2007 and 2016. The methods adopted in analysing the data were descriptive statistics and the OLS regression model. Findings: The empirical results show that educated poor households pay less per calorie compared to non-educated poor households, highlighting the role of education in improving the ability to make better food choices and manage household budgets more economically. Practical implications: This study informs policy-makers of the importance of education for formulating food and nutritional policies, which aim to raise the standard of living of resource-poor and vulnerable households in Sri Lanka as well as other developing countries with similar socio-economic conditions. Originality/value: To the best of the authors' knowledge, this study is the first to explore the impact of education on the calorie consumption behaviour of people in the Sri Lankan context using nationwide household surveys. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2022-0007 [ABSTRACT FROM AUTHOR]

The study aims to examine the relationship between Sustainable Development Goals (SDGs) knowledge, sustainability attitudes, sustainable entrepreneurship, and sustainable behaviors among students enrolled in business-related courses at Spanish universities. Employing the Knowledge-Attitude-Behavior (KAB) model, this study innovatively disaggregates the attitude variable into attitudes toward sustainability and sustainable entrepreneurship. The findings affirm the direct and indirect effects posited in the model, indicating that familiarity with SDGs positively impacts attitudes toward sustainability, subsequently influencing sustainable behaviors. Moreover, positive attitudes toward sustainable entrepreneurship also directly influence sustainable behaviors. Additionally, the study examines the moderating influence of receiving a scholarship; results indicate that attitudes toward sustainability and sustainable entrepreneurship significantly shape behavior, with the scholarship variable altering the relationship between attitudes toward entrepreneurship and behavior. These outcomes underscore the significance of enhancing SDGs awareness and nurturing favorable attitudes toward sustainability and sustainable entrepreneurship among university students to stimulate sustainable behaviors and advance SDGs objectives. [ABSTRACT FROM AUTHOR]

In Los Angeles, all-cash home purchases quintupled during the last decade. Compared with an else-equal mortgage offer, a cash offer is associated with 29 percent shorter time-to-close and a 2–3.9 percent price discount, indicating a substantial amount of financing risk—the risk to a seller that a transaction may not close on time and may fail to occur again because a mortgage contingency fails. The estimated cash discount aligns well with a canonical model calibrated to the sample market. Our findings reveal that closing risk alone is insufficient to explain the cash discount. Rather, it turns on the possibility that a property back on the market may fail to sell, requiring a substantial risk compensation. The estimated cash discount is smaller during booms and in larger markets, highlighting the inseparability of financial frictions in the mortgage market and search frictions in the housing market. [ABSTRACT FROM AUTHOR]

AbstractReducing carbon dioxide emissions in the aviation industry is a formidable challenge. Understanding airline travellers’ willingness to pay for emission reductions could lead to impactful changes in flight pricing and government policies. In this study, we employ a discrete choice experiment to more accurately gauge this willingness to pay. The experiment features a comprehensive analysis of both leisure and business traveller categories, utilising a realistic interface mirroring Google Flights for journeys between Los Angeles and New York. The findings demonstrate that, on average, business flyers exhibit a significantly higher willingness to pay for emission reductions compared to leisure flyers. Notably, a subset of emissions conscious leisure flyers also exhibits a markedly higher willingness to pay. Latent class modelling indicates that this emissions conscious group accounts for about 42% of the leisure flyer sample. The larger group of price focused leisure flyers does not display any significant willingness to pay for emission reduction. Another key finding is that ethical consumption behaviour, not just stronger perceptions related to climate change, is linked to emissions-reducing preferences among both types of flyers. These results provide valuable insights for policy and pricing strategies, emphasising the heterogeneity across and within the business and leisure flyer segments. [ABSTRACT FROM AUTHOR]

Consumers increasingly prefer lattes using alternative milk from plant-based sources. This study aims to find the factors affecting consumer intention to purchase lattes using alternative milk from plant-based sources and to compare the links between the factors and purchase intentions depending on two labels, "vegan" and "plant-based." An online, scenario-based experiment was conducted with a between-subjects design (plant-based: n=268, vegan: n=265), followed by a survey. In both groups, the results show that the perceived benefits positively affect purchase intention, but the perceived barrier (i.e., vegetarian stigma) did not. Perceived benefits and preference were higher when showing a "plant-based latte" label focusing on the presence of plant-based ingredients than when showing a "vegan latte" label focusing on the absence of animal-based ingredients. For the label "vegan latte," even if consumers are non-vegan, the higher their food curiosity, food snobbery, and food variety-seeking tendency, the higher their purchase intention. It suggests to marketers and menu developers what needs to be highlighted and which consumers to target to boost sales of latte using alternative milk. The findings emphasize the potential for labels to promote the purchase intention of alternative lattes, offering a strategy for changing consumer behavior. [ABSTRACT FROM AUTHOR]

Entertaining farm stay in sharing economy has become a unique and feasible accommodation option in China. This paper proposes a comprehensive framework with which to examine the trust-building mechanisms within this emerging sector. Utilizing data from 527 experienced tourists in China, this study conducted a structural equation modeling analysis. The findings indicate that system quality, information quality and service quality, all stemming from platform factors, significantly influence trust. Electronic word-of-mouth, influenced by guest factors, and media richness, influenced by host factors, positively affects perceived usefulness and trust. Notably, while system quality remains positively correlated with trust, its impact on perceived usefulness is diminishing, reflecting the changing information landscape and consumer preferences. This study extends the research on consumer trust on entertaining farm stay in sharing economy. It also provides certain theoretical guidance for trust building in entertaining farm stay market. [ABSTRACT FROM AUTHOR]

Malaysian households have exhibited significant improvements in the standard of living and economic opportunities. However, a larger household income does not always translate into an economically comfortable household. Regional variations in income and expenditure levels need to be explored for better understanding on the diversity of experiences among Malaysian households. Therefore, this study aims to investigate the pattern and relationship between household income, household expenditure, and household size among states in Malaysia. Several methods have been used such as the Pearson correlation coefficient, paired t-test, and multiple regression model using IBM Statistical Package for the Social Sciences (SPSS) version 27 and Microsoft Excel for the year 2016, 2019 and 2020. Descriptive results showed that despite the significant increase in household median income, households seemed unable to allocate the income increment to their expenses, possibly due to higher living costs requiring adjustments in expenditure. Results also showed that the expenditure growth rate outpaces the income growth rate drastically in a few states such as Negeri Sembilan and Putrajaya. The inferential results have shown that there is a significant difference in the mean monthly household median income and the mean monthly household median expenditure across states in Malaysia between 2016 and 2019. Multiple regression revealed that household median income significantly predicted household median expenditure, while household size is not significant. This study suggests government to regularly review the prices of essential goods and services to ensure they remain affordable for all households. This is crucial for improving the living standards and well-being of Malaysians.

How does household exposure to a natural disaster affect higher education investments? Using variation in flooding from Hurricane Harvey (2017), we find that college-aged adults from flooded blocks in Houston are 7% less likely than counterparts to have student loans after Harvey, with larger effects in areas with more potential first-generation students. We find a similar relative decline in enrollment at more exposed Texas universities and colleges and a shift toward majors with higher expected earnings. Our results highlight a decrease in the quantity but an increase in the intensity of investments in human capital after the storm. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

We show that search frictions in credit markets affect accepted interest rates and loan sizes and distort consumption. Using data on car loan applications and originations not intermediated by car dealers, we isolate quasi-exogenous variation in both the costs and benefits to searching for credit. After identifying lender-specific policies that price risk discontinuously, we study the differential response to offered interest rates by borrowers who face high and low search costs. High-search-cost borrowers are 10 |$\%$| more likely to accept loan offers with higher markups, consequently originating smaller loans and purchasing older and less expensive cars than lower-search-cost borrowers. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

A randomized encouragement design yields null average effects of a credit builder loan (CBL) on consumer credit scores. But machine learning algorithms indicate the nulls are due to stark, offsetting treatment effects depending on baseline installment credit activity. Delinquency on preexisting loan obligations drives the negative effects, suggesting that adding a CBL overextends some consumers and generates negative externalities on other lenders. More favorably for the market, CBL take-up generates positive selection on score improvements. Simple changes to CBL practice, particularly to provider screening and credit bureau reporting, could ameliorate the negative effects for consumers and the market. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

This article investigates the factors influencing food product purchases by young Polish consumers aged 18–25 – a group important for the development of the economy. In the process of deciding to purchase specific food products, consumers pay attention to various economic and non-economic factors, including marketing. We carried out survey in October/November 2020 using the CAWI method (Google Forms) to test the importance of 17 factors on young Polish consumers’ food purchases, applying factor analysis and cluster analysis to the resulting data. The results reveal that price and product expiration date are young Polish consumers’ primary concerns when purchasing food products. The study also found that environmental sustainability attributes, although less critical than price or product quality, are increasingly influencing young Polish consumers' purchasing decisions.

This article explores the impact of the COVID-19 pandemic on the virtualization of consumer behaviors in the Polish service sector, emphasizing shifts in service delivery mechanisms. The pandemic acted as a catalyst, accelerating the adoption of virtual solutions across various sectors including tourism, gastronomy, culture, education, and healthcare, as necessitated by social distancing and other restrictive measures. The article first outlines the integration of digital solutions into various service sectors, focusing on the impact of these technologies on consumer behaviors and service delivery. Next, utilizing an online survey conducted in November 2022 with a sample of 1,100 respondents, whose socio-demographic profile corresponds with that of Polish internet users (Ariadna panel), the study examines consumer perceptions and the effectiveness of digital transformations during the pandemic. The findings indicate a high appreciation among Polish consumers for virtual solutions that improved access to and use of services during restrictive periods. However, the continuation of these virtual engagements post-pandemic appears selective, with significant inclination towards solutions in administrative, food delivery, and telemedical services, while long-term engagement in virtual cultural services is less favored. This study underscores the dual role of necessity and technological advancement in reshaping consumer interactions with service sectors, suggesting a sustained yet selective future for virtual service consumption post-pandemic.

This study explores financial literacy (FL) and its influence on market participation among rural residents in China. Using the 2017 China Household Finance Survey, we find that rural residents have low FL and answer only 33% of basic and 20.8% of advanced questions on average. The findings indicate a substantial disparity in their FL skills. The ordinary least squares regression results reveal that advanced FL is statistically positively related to market participation. To mitigate endogeneity concerns, we adopt the instrument variable estimator within the generalized method of moment (IV-GMM). The IV-GMM results indicate that FL positively affects the market participation of Chinese rural households. The probability of market participation increases by over 7% with every unit increase in advanced FL scores. Additionally, the robustness tests confirm the positive correlation between advanced FL and market participation. Furthermore, the impact of FL on stock-market participation is more pronounced among rural residents in economically developed regions and those with greater financial assets.

The European Commission's new horizontal guidelines create scope for sustainability agreements and, to calculate efficiencies, suggest the estimation of consumers' willingness to pay (WTP) for so-called "nonuse value." We contrast estimates obtained from a hypothetical choice experiment conducted for the Netherlands' competition authority (the "Chicken of Tomorrow" case) with estimates based on homescan data documenting consumers' real choices between more or less animal-friendly meat, ensuring that the respective alternatives are made highly comparable. Still, the estimated WTP for the animal-friendly alternative is several times higher in the choice experiment. Given observed prices and the WTP estimated in the choice experiment, the animal-friendly alternative should have already crowded out the conventional variant. We use our findings to inform about several pitfalls both when using experimental data and when using data from true purchases. [ABSTRACT FROM AUTHOR]

This study investigates whether wording a promotional marketing message as originating from the US government vs. the US president impacts consumers' responsiveness to the message. Using a discrete choice experiment, it examines consumer responsiveness to President Biden's order promoting domestic production. Results indicate that consumers are willing to pay a premium for domestically produced tomatoes, with variations based on political affiliations and product attributes like organic labeling and farm employment practices. However, findings on the significance of information treatment effects are mixed, suggesting that consumer responsiveness is unaffected by wording the message as originating from a broad political body vs. a specific politician. [ABSTRACT FROM AUTHOR]

Goat meat consumption has grown in recent years due to dietary and cultural changes. US demand has surpassed domestic supply, presenting an opportunity for industry expansion. This study provides valuable insights into consumer preferences for goat meat. A sample of 1,015 Floridians was randomly assigned to a control and three treatment groups that included information about the health and/or environmental benefits of goat meat. Results show a significant difference in willingness to pay for goat meat under different information treatments. Persuasive marketing campaigns can increase consumers' preferences for goat meat by raising awareness of the health and environmental benefits. [ABSTRACT FROM AUTHOR]

Corporate political engagement is increasingly noticeable at grocery stores; however, there is limited research evaluating the impact on consumer demand. Here, we investigate the case of Aunt Jemima (AJ), which responded to criticism that the branding was racist by removing the eponymous image and renaming the brand Pearl Milling Company. We evaluate the changes on demand for both the brand and their competitors and find that renaming the brand reduced both willingness to pay for and choice of AJ and increased choice of competitors. Finally, we show these effects are mitigated significantly by informing consumers of the reason for rebranding. [ABSTRACT FROM AUTHOR]

This article proposes a structural framework for the joint estimation of tourists' daily personal expenditures (intensity) and length of stay (extensity). We reconceptualize commonly accepted exogeneous determinants of both outcomes into a set of exogenous antecedents pre-existing the travel decision and a set of endogenous mediators that capture the role of market exchange after the travel decision and corresponding choices are made. Findings reveal that the effects of some exogenous factors, such as gender, income, and motives on total spending are fully mediated within the intensity and extensity components, absent of any direct impacts. Other factors, such as nationality, appear not to influence spending due to offsetting mediated effects. As these forces are difficult to discern via reduced-form modeling, the proposed structural framework provides tourism managers with deeper insight into the footprints of established expenditure determinants, potentially improving upon the efficacy of marketing strategies. [ABSTRACT FROM AUTHOR]

Uneven economic performance has become a main concern in the regional context of Sumatra. This study examines regional economic dynamics in Sumatra using the newlyweds' night-time light data and digitalization-related variables as the influencing factors. The analysis uses district‐level data from 2019 to 2022 to account for heterogeneity across Sumatra districts and estimates spatial magnitudes among clusters. Two main analyses were conducted to address the challenges of applying spatial perspectives in evaluating economic performances. Sentiment analysis conveys that digitalization-related variables are positively correlated with regional economies. Furthermore, exploiting a Geographically Weighted Regression, this study confirms that the effect of inclusion of digital finance, financial technology, and digital literacy varies across districts. Compared to the Southern part, digitalization-related variables are more pronounced in Sumatra's Northern and Middle parts. In addition, the overall results indicate that the inclusion of digital finance and digital literacy tends to leverage regional growth across districts. The findings suggest that the importance of targeting investment and digitized-based policy in less-affected regions could be a key policy direction for achieving balanced regional development. [ABSTRACT FROM AUTHOR]

Adoption of low-carbon technology is key to mitigating climate change. A possible unwanted consequence of fast technological progress is that products get outdated before their technical lifetime is over. We investigate whether the market value of electric vehicles, characterized by rapid technological progress, declines faster over their lifetime than gasoline vehicles, which represent a mature technology. We use novel data from Norway, the market with the highest market shares for electric vehicles in the world. The data are from the largest web platform for secondhand vehicles over the period 2011–2021. Prices of electric vehicles decline faster than gasoline vehicles. This seems to be driven by the electric vehicles with below median driving range. We hypothesize that the large price drop is mainly due to the fast technological improvement of electric vehicles. [ABSTRACT FROM AUTHOR]

There is growing recognition that anti-poverty policies aimed at increasing access to assets, particularly durable goods, need to address the issue of gender-based developmentally-situated disparities. This study examined how different types of durable goods relate to academic achievement and school attendance in Colombia and whether this relationship varies by gender and school grade, expanding the geographic scope of existing literature on the subject to Latin America. Data for fifth and ninth-grade students with complete durable goods information (N = 364,436) from the 2017 SABER test, a nationwide examination that evaluates reading and math skills, were assessed using multilevel modeling. The results indicated that students whose families owned washing machines, computers or who had internet access performed better academically and were less likely to be absent from school, with larger effects for boys and fifth graders. This research contributes to the existing literature by illustrating the importance of durable goods on children's academic performance. The study recommends policymakers to support the formulation of asset-based policies that promote access to durable goods, particularly for girls and adolescents from low-income families.

AbstractThe purpose of this research is to investigate the influence of various Point of Sale Materials (POSM) - Free Coupons, Free Samples, BOGO, and Discounts - on consumer buying behavior in the halal cosmetic industry. It aims to provide a deeper understanding of how these marketing strategies affect the purchasing decisions of Muslim consumers, particularly in relation to their religious and ethical values. This quantitative study, employing purposive sampling, investigates the impact of POSM on the purchasing behavior of halal cosmetic products. The research spans from March 2023 to June 2023, the data were collected over four months, garnering 245 respondents out of 260 shared questionnaires, resulting in a 92% response rate. Focusing on Wardah cosmetics as the research object—a pioneer of halal cosmetics in Indonesia consistently employing POSM—the study utilizes Partial Least Squares Structural Equation Modeling (PLS-SEM) for data analysis. The findings reveal that free coupons and BOGO exert a positive and significant influence on consumer behavior, while free sample and discount demonstrate a positive but not statistically significant effect. This research contributes valuable insights into the effectiveness of distinct marketing strategies through the examination of diverse promotional tools on consumer buying behavior. This resarch provides a comprehensive analysis of the effectiveness of various Point of Sale Materials (POSM) in influencing consumer buying behavior, specifically within the context of halal cosmetics. This targeted focus on halal cosmetic products adds a new dimension to the understanding of consumer behavior in this rapidly growing sector.

AbstractThis study aims to analyze and evaluate the influence of electronic word of mouth (eWOM) and perceived value on green purchase intention in Vietnam, with the belief that it plays an intermediary role. The article uses the linear structural model (SEM) to analyze and test hypotheses by surveying 664 consumers in the big cities of Vietnam. The results have shown that eWOM, perceived value, and trust positively affect green purchase intention, in which case eWOM and perceived value make important contributions to the formation of consumer confidence. These findings help managers step up awareness campaigns, encouraging consumers to share useful eWOM information to improve people’s purchase intentions.

Currently, the global market for subscription services is facing a crisis of approaching saturation, prompting increased attention to the Asia-Pacific region. Meanwhile, digital content subscription services in Japan are late in the game but are on a continuous upward trend, indicating significant development potential. Despite a global shift towards digital consumption, Japan's strong preference for physical items such as CDs and books, presents an interesting contrast that warrants further research. This study integrates the innovation diffusion and resistance theories to investigate consumers’ actual usage and continuous purchase intention of digital content subscription services from both positive and negative perspectives. A questionnaire survey of 250 Japanese digital content subscribers yielded the following conclusions: First, compatibility positively influenced actual usage. Second, trialability negatively impacted actual usage. The unique characteristics of digital content subscription services were identified and compared with those of other innovative services. Furthermore, the tradition barrier exhibited a negative effect on actual usage. Last, actual usage was found to significantly and positively impact continuous purchase intention. By understanding the nuances of the Japanese market, companies can develop effective global strategies to cater to diverse consumer segments and remain competitive in an ever-changing digital landscape.

We introduce and quantify a new channel through which the housing market affects household spending: the home purchase channel. Households spend on average $8,000 more on home-related durables and home improvements in the 2 years following a home purchase. Expenditures on nondurables and durables unrelated to the home remain unchanged or decrease modestly. The home purchase channel played a substantial role in the Great Recession, accounting for one-third of the decline in spending on home-related durables and home improvements from 2005 to 2010. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online [ABSTRACT FROM AUTHOR]