Search

Expert judgments may increase or decrease consumer welfare depending on experts’ ability to redirect consumers toward goods they enjoy. Leveraging the discontinuity created by the attribution of the Booker Prize, a leading literary award, we confirm that the prize attracts readers to consumption. We then investigate how it affects consumer surplus. We measure consumer ex post satisfaction from reading a book by the sentiment and the rating of the reviews posted on Amazon. We show that the Booker reduces satisfaction and that this negative effect is driven by a misalignment between the tastes of the jury and those of consumers. We quantify the associated loss in welfare by calibrating a structural model of demand. We find that the prize reduces consumer surplus by USD135,000 annually, meaning that a consumer buying a Booker Prize-winning book experiences a loss in surplus of 4% of the average price of a book., info:eu-repo/semantics/published

The marshes of Iraq are among the beautiful and rare water bodies in the world and the richest in their biodiversity, which made them a magnet for local and foreign tourists. To enjoy the quiet tourist atmosphere, bird hunting and fish, and water and land trips organized by residents for inbound tourists. This paper seeks to estimate consumer surplus for tourists arriving in the Chibayish Marshlands by using the CVM model that is based on surveys. To extract users evaluation of their resource activities including but not limited to (visit The Marshes of Chibayish), To collect demographic information or information related to activities that can be used as a predictor of these assessments. As a group of questions were directed to users, with the options of dichotomous double-border offers, this study helps in the possibility of the local administration of the Chibayish region managing the volume of tourists' arrival to the area through the price mechanism. The assessment is based on estimates of tourists ’willingness to pay through a sample survey of inbound tourists, from which estimates of consumer surplus are derived.

A nationwide recreational fishing survey in Sweden was used to estimate the benefits of recreational fishing in Sweden. The survey targeted the Swedish population and, consequently, the sample contained a large fraction of zero fishing days. To consider this, a zero-inflated Poisson model was used in the estimations. Swedes fished about 15.6 million days in 2013, of which two thirds were spent on inland fishing, and one third on marine and coastal fishing. Expected consumer surplus per fishing day varied with the season; SEK 193 for winter fishing, SEK 787 for summer fishing and SEK 95 for autumn fishing. Although about 70 per cent of total fishing days were spent on inland fishing, the weighted consumer surplus per fishing day in marine and coastalareas were higher. The results also demonstrated strong positive effects of increases in expected catch per day on number of fishing days demanded and consumer surplus, which have important implications for fishery policies directed at recreational fishing.

A nationwide recreational fishing survey in Sweden was used to estimate the benefits of recreational fishing in Sweden. The survey targeted the Swedish population and, consequently, the sample contained a large fraction of zero fishing days. To consider this, a zero-inflated Poisson model was used in the estimations. Swedes fished about 15.6 million days in 2013, of which two thirds were spent on inland fishing, and one third on marine and coastal fishing. Expected consumer surplus per fishing day varied with the season; SEK 193 for winter fishing, SEK 787 for summer fishing and SEK 95 for autumn fishing. Although about 70 per cent of total fishing days were spent on inland fishing, the weighted consumer surplus per fishing day in marine and coastalareas were higher. The results also demonstrated strong positive effects of increases in expected catch per day on number of fishing days demanded and consumer surplus, which have important implications for fishery policies directed at recreational fishing.

A nationwide recreational fishing survey in Sweden was used to estimate the benefits of recreational fishing in Sweden. The survey targeted the Swedish population and, consequently, the sample contained a large fraction of zero fishing days. To consider this, a zero-inflated Poisson model was used in the estimations. Swedes fished about 15.6 million days in 2013, of which two thirds were spent on inland fishing, and one third on marine and coastal fishing. Expected consumer surplus per fishing day varied with the season; SEK 193 for winter fishing, SEK 787 for summer fishing and SEK 95 for autumn fishing. Although about 70 per cent of total fishing days were spent on inland fishing, the weighted consumer surplus per fishing day in marine and coastalareas were higher. The results also demonstrated strong positive effects of increases in expected catch per day on number of fishing days demanded and consumer surplus, which have important implications for fishery policies directed at recreational fishing.

The marshes of Iraq are among the beautiful and rare water bodies in the world and the richest in their biodiversity, which made them a magnet for local and foreign tourists. To enjoy the quiet tourist atmosphere, bird hunting and fish, and water and land trips organized by residents for inbound tourists. This paper seeks to estimate consumer surplus for tourists arriving in the Chibayish Marshlands by using the CVM model that is based on surveys. To extract users evaluation of their resource activities including but not limited to (visit The Marshes of Chibayish), To collect demographic information or information related to activities that can be used as a predictor of these assessments. As a group of questions were directed to users, with the options of dichotomous double-border offers, this study helps in the possibility of the local administration of the Chibayish region managing the volume of tourists' arrival to the area through the price mechanism. The assessment is based on estimates of tourists ’willingness to pay through a sample survey of inbound tourists, from which estimates of consumer surplus are derived.

A nationwide recreational fishing survey in Sweden was used to estimate the benefits of recreational fishing in Sweden. The survey targeted the Swedish population and, consequently, the sample contained a large fraction of zero fishing days. To consider this, a zero-inflated Poisson model was used in the estimations. Swedes fished about 15.6 million days in 2013, of which two thirds were spent on inland fishing, and one third on marine and coastal fishing. Expected consumer surplus per fishing day varied with the season; SEK 193 for winter fishing, SEK 787 for summer fishing and SEK 95 for autumn fishing. Although about 70 per cent of total fishing days were spent on inland fishing, the weighted consumer surplus per fishing day in marine and coastalareas were higher. The results also demonstrated strong positive effects of increases in expected catch per day on number of fishing days demanded and consumer surplus, which have important implications for fishery policies directed at recreational fishing.

The marshes of Iraq are among the beautiful and rare water bodies in the world and the richest in their biodiversity, which made them a magnet for local and foreign tourists. To enjoy the quiet tourist atmosphere, bird hunting and fish, and water and land trips organized by residents for inbound tourists. This paper seeks to estimate consumer surplus for tourists arriving in the Chibayish Marshlands by using the CVM model that is based on surveys. To extract users evaluation of their resource activities including but not limited to (visit The Marshes of Chibayish), To collect demographic information or information related to activities that can be used as a predictor of these assessments. As a group of questions were directed to users, with the options of dichotomous double-border offers, this study helps in the possibility of the local administration of the Chibayish region managing the volume of tourists' arrival to the area through the price mechanism. The assessment is based on estimates of tourists ’willingness to pay through a sample survey of inbound tourists, from which estimates of consumer surplus are derived.

A nationwide recreational fishing survey in Sweden was used to estimate the benefits of recreational fishing in Sweden. The survey targeted the Swedish population and, consequently, the sample contained a large fraction of zero fishing days. To consider this, a zero-inflated Poisson model was used in the estimations. Swedes fished about 15.6 million days in 2013, of which two thirds were spent on inland fishing, and one third on marine and coastal fishing. Expected consumer surplus per fishing day varied with the season; SEK 193 for winter fishing, SEK 787 for summer fishing and SEK 95 for autumn fishing. Although about 70 per cent of total fishing days were spent on inland fishing, the weighted consumer surplus per fishing day in marine and coastalareas were higher. The results also demonstrated strong positive effects of increases in expected catch per day on number of fishing days demanded and consumer surplus, which have important implications for fishery policies directed at recreational fishing.

This study examines if inhabitants of different municipalities in Sweden are more harshly affected given an increase in gasoline tax. This is done by examining the demand elasticities and consumer surplus loss using a panel Error Correction Model. The results show that inhabitants of rural municipalities are more unresponsive and lose out more consumer surplus from a hypothetical increase in the tax. The loss is however so small that the tax can be considered basically proportional. The policy implication is that compensation for the benefit of rural inhabitants is unmotivated.

Title: Price Wars and Consumer Surplus Seminar date: 2020-06-03 Course: FEKH19, Bachelor Degree Project in Strategic Management, 15 ECTS Authors: Felix Thunström, Malkolm Wester, Oliver Nilsson, Simon Taillefer Dellenholt Advisor: Niklas L. Hallberg Key words: Pharmacy, Price wars, Consumer surplus, VPC framework, Perfect competition Purpose: The purpose of this paper is to investigate how a price war affects consumer surplus. Methodology: A quantitative study with a hypothesis testing deductive approach was conducted. The design of the study was a retrospective natural experiment with longitudinal elements. Data was collected through a digital survey directed towards consumers who had purchased products from Swedish pharmacies both before 2016 and recently. Variables were operationalised mainly with consideration to previous studies. Data were compiled and then statistically analysed in SPSS Statistics. Theoretical perspectives: The main theory in this paper is Heil & Helsen’s (2001) theory about price wars that both defines the phenomenon and explains that there is uncertainty about the effects on consumers. Furthermore, Hallberg’s (2017) article on value, consumer surplus and Tirole’s (1988) VPC framework is used. Other theoretical perspectives include perfect competition (Robinson, 1934; Hall, 1986; Amountzias, 2020; Slater, 1997), which is used to illustrate how price wars reasonably should lead to the society approaching a welfare maximising condition from a consumer perspective. Empirical foundation: Collection of data was made possible mainly through a consumer survey. A total of 118 respondents answered the survey of which 113 answers were used in the study’s data analysis. Conclusions: The study shows that the consumer surplus has increased since the commencement of the price war, as a consequence of a lower price and a higher value. Service quality and resource consumption in terms of time increased, while product quality decreased., Examensarbetets titel: Priskrig och konsumentöverskott Seminariedatum: 2020-06-03 Kurs: FEKH19, Examensarbete i Strategic Management på kandidatnivå, 15 hp Författare: Felix Thunström, Malkolm Wester, Oliver Nilsson, Simon Taillefer Dellenholt Handledare: Niklas L. Hallberg Nyckelord: Apotek, Priskrig, Konsumentöverskott, VPC-ramverket, Perfekt konkurrens Syfte: Syftet med detta arbete är att undersöka hur priskrig kan påverka konsumentöverskott. Metod: Denna kvantitativa studie genomfördes med hypotesprövande deduktiv ansats och designen var ett retrospektivt naturligt experiment med longitudinella inslag. Empiri insamlades från en webbaserad enkätundersökning riktad mot konsumenter som handlat på svenska apotek både före 2016 och nyligen. Variabler operationaliserades till stor del med utgångspunkt i tidigare forskning. Data sammanställdes och analyserades sedan statistiskt i SPSS Statistics. Teoretiska perspektiv: Uppsatsens utgångspunkt är Heil & Helsens (2001) teori om priskrig som både definierar fenomenet samt förklarar att det finns en ovisshet gällande påverkan på konsumenter. Vidare används Hallbergs (2017) artikel om värde, konsumentöverskott och Tiroles (1988) VPC-ramverk. Teorier om perfekt konkurrens (Robinson, 1934; Hall, 1986; Amountzias, 2020; Slater, 1997) används sedan för att illustrera hur priskrig rimligen bör leda till att samhället närmar sig ett välfärdsmaximerande tillstånd ur ett konsumentperspektiv. Empiri: Insamling av empiri möjliggjordes främst genom en enkätundersökning. Totalt 118 respondenter besvarade enkäten varav 113 svar låg till grund för studiens dataanalys. Resultat: Studien visar att konsumentöverskottet har ökat sedan priskrigets start, till följd av ett lägre pris och ett högre värde. Servicekvalitet och resursåtgång i termer av tid har förbättrats, samtidigt som produktkvaliteten har försämrats något.

The goal of this study is to assess and quantify the potential employment accessibility benefits of shared-use automated vehicle (AV) mobility service (SAMS) modes across a large diverse metropolitan region considering heterogeneity in the working population. To meet this goal, this study proposes employing a welfare-based (i.e. logsum-based) measure of accessibility, obtained via estimating a hierarchical work destination-commute mode choice model. The employment accessibility logsum measure incorporates the spatial distribution of worker residences and employment opportunities, the attributes of the available commute modes, and the characteristics of individual workers. The study further captures heterogeneity of workers using a latent class analysis (LCA) approach to account for different worker clusters valuing different types of employment opportunities differently, in which the socio-demographic characteristics of workers are the LCA model inputs. The accessibility analysis results in Southern California indicate: (i) the accessibility benefit differences across latent classes are modest but young workers and low-income workers do see higher benefits than high- and middle-income workers; (ii) there are substantial spatial differences in accessibility benefits with workers living in lower density areas benefiting more than workers living in high-density areas; (iii) nearly all the accessibility benefits come from the SAMS-only mode as opposed to the SAMS+Transit mode; and (iv) the SAMS cost per mile assumption significantly impacts the magnitude of the overall employment accessibility benefits.

This study examines if inhabitants of different municipalities in Sweden are more harshly affected given an increase in gasoline tax. This is done by examining the demand elasticities and consumer surplus loss using a panel Error Correction Model. The results show that inhabitants of rural municipalities are more unresponsive and lose out more consumer surplus from a hypothetical increase in the tax. The loss is however so small that the tax can be considered basically proportional. The policy implication is that compensation for the benefit of rural inhabitants is unmotivated.

Title: Price Wars and Consumer Surplus Seminar date: 2020-06-03 Course: FEKH19, Bachelor Degree Project in Strategic Management, 15 ECTS Authors: Felix Thunström, Malkolm Wester, Oliver Nilsson, Simon Taillefer Dellenholt Advisor: Niklas L. Hallberg Key words: Pharmacy, Price wars, Consumer surplus, VPC framework, Perfect competition Purpose: The purpose of this paper is to investigate how a price war affects consumer surplus. Methodology: A quantitative study with a hypothesis testing deductive approach was conducted. The design of the study was a retrospective natural experiment with longitudinal elements. Data was collected through a digital survey directed towards consumers who had purchased products from Swedish pharmacies both before 2016 and recently. Variables were operationalised mainly with consideration to previous studies. Data were compiled and then statistically analysed in SPSS Statistics. Theoretical perspectives: The main theory in this paper is Heil & Helsen’s (2001) theory about price wars that both defines the phenomenon and explains that there is uncertainty about the effects on consumers. Furthermore, Hallberg’s (2017) article on value, consumer surplus and Tirole’s (1988) VPC framework is used. Other theoretical perspectives include perfect competition (Robinson, 1934; Hall, 1986; Amountzias, 2020; Slater, 1997), which is used to illustrate how price wars reasonably should lead to the society approaching a welfare maximising condition from a consumer perspective. Empirical foundation: Collection of data was made possible mainly through a consumer survey. A total of 118 respondents answered the survey of which 113 answers were used in the study’s data analysis. Conclusions: The study shows that the consumer surplus has increased since the commencement of the price war, as a consequence of a lower price and a higher value. Service quality and resource consumption in terms of time increased, while product quality decreased., Examensarbetets titel: Priskrig och konsumentöverskott Seminariedatum: 2020-06-03 Kurs: FEKH19, Examensarbete i Strategic Management på kandidatnivå, 15 hp Författare: Felix Thunström, Malkolm Wester, Oliver Nilsson, Simon Taillefer Dellenholt Handledare: Niklas L. Hallberg Nyckelord: Apotek, Priskrig, Konsumentöverskott, VPC-ramverket, Perfekt konkurrens Syfte: Syftet med detta arbete är att undersöka hur priskrig kan påverka konsumentöverskott. Metod: Denna kvantitativa studie genomfördes med hypotesprövande deduktiv ansats och designen var ett retrospektivt naturligt experiment med longitudinella inslag. Empiri insamlades från en webbaserad enkätundersökning riktad mot konsumenter som handlat på svenska apotek både före 2016 och nyligen. Variabler operationaliserades till stor del med utgångspunkt i tidigare forskning. Data sammanställdes och analyserades sedan statistiskt i SPSS Statistics. Teoretiska perspektiv: Uppsatsens utgångspunkt är Heil & Helsens (2001) teori om priskrig som både definierar fenomenet samt förklarar att det finns en ovisshet gällande påverkan på konsumenter. Vidare används Hallbergs (2017) artikel om värde, konsumentöverskott och Tiroles (1988) VPC-ramverk. Teorier om perfekt konkurrens (Robinson, 1934; Hall, 1986; Amountzias, 2020; Slater, 1997) används sedan för att illustrera hur priskrig rimligen bör leda till att samhället närmar sig ett välfärdsmaximerande tillstånd ur ett konsumentperspektiv. Empiri: Insamling av empiri möjliggjordes främst genom en enkätundersökning. Totalt 118 respondenter besvarade enkäten varav 113 svar låg till grund för studiens dataanalys. Resultat: Studien visar att konsumentöverskottet har ökat sedan priskrigets start, till följd av ett lägre pris och ett högre värde. Servicekvalitet och resursåtgång i termer av tid har förbättrats, samtidigt som produktkvaliteten har försämrats något.

This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmental challenges.

This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmental challenges.

Data from a unique nationwide recreational fishing survey in Sweden is used to estimate benefits of recreational fishing in Sweden, differences between regions and age groups, and how they relate to expected catch. The data targets the whole Swedish population, and as a consequence a large fraction of zero fishing days exists in the sample. To consider this, a zeroinflated Poisson model was used. Swedes fished around 16 million days in 2013, of which twothirds was spent on inland fishing, and one third was spent on marine and costal fishing. Expected consumer surplus per fishing day vary over the season, from about SEK 23 for winter fishing, to SEK 148 for summer fishing. The highest consumer surplus values are found among the youngest and the oldest age groups that were surveyed. Expected catch is an important determinant for number of fishing days, but catch increases mainly influence summer fishing.

Data from a unique nationwide recreational fishing survey in Sweden is used to estimate benefits of recreational fishing in Sweden, differences between regions and age groups, and how they relate to expected catch. The data targets the whole Swedish population, and as a consequence a large fraction of zero fishing days exists in the sample. To consider this, a zeroinflated Poisson model was used. Swedes fished around 16 million days in 2013, of which twothirds was spent on inland fishing, and one third was spent on marine and costal fishing. Expected consumer surplus per fishing day vary over the season, from about SEK 23 for winter fishing, to SEK 148 for summer fishing. The highest consumer surplus values are found among the youngest and the oldest age groups that were surveyed. Expected catch is an important determinant for number of fishing days, but catch increases mainly influence summer fishing.

Data from a unique nationwide recreational fishing survey in Sweden is used to estimate benefits of recreational fishing in Sweden, differences between regions and age groups, and how they relate to expected catch. The data targets the whole Swedish population, and as a consequence a large fraction of zero fishing days exists in the sample. To consider this, a zeroinflated Poisson model was used. Swedes fished around 16 million days in 2013, of which twothirds was spent on inland fishing, and one third was spent on marine and costal fishing. Expected consumer surplus per fishing day vary over the season, from about SEK 23 for winter fishing, to SEK 148 for summer fishing. The highest consumer surplus values are found among the youngest and the oldest age groups that were surveyed. Expected catch is an important determinant for number of fishing days, but catch increases mainly influence summer fishing.

Data from a unique nationwide recreational fishing survey in Sweden is used to estimate benefits of recreational fishing in Sweden, differences between regions and age groups, and how they relate to expected catch. The data targets the whole Swedish population, and as a consequence a large fraction of zero fishing days exists in the sample. To consider this, a zeroinflated Poisson model was used. Swedes fished around 16 million days in 2013, of which twothirds was spent on inland fishing, and one third was spent on marine and costal fishing. Expected consumer surplus per fishing day vary over the season, from about SEK 23 for winter fishing, to SEK 148 for summer fishing. The highest consumer surplus values are found among the youngest and the oldest age groups that were surveyed. Expected catch is an important determinant for number of fishing days, but catch increases mainly influence summer fishing.

Fishery economists often define economic welfare inconsistently because the resource rent or profit is maximized even when a producer and/or consumer surplus exists. In this paper, we propose a solution to this problem by departing from general economic concepts such as resource rent, producer surplus and consumer surplus. We argue that the rents and surpluses, which ought to be included in economic welfare, depends upon whether: a. fishing effort is heterogeneous or homogeneous; and b. the output price is constant or non-constant. To investigate which assumptions that are most reasonable, we have conducted reviews of the existing fishery economic literature. Based on these reviews, we conclude that the total resource rent, producer surplus and consumer surplus are significant, implying that the sum of these rents and surpluses is the most appropriate definition of total economic welfare. We also argue that the resource rent (opportunity cost)rather than the profit (actual cost)ought to be included in a welfare function for fisheries. Based on our own simple calculations, we show that the actual cost is greater than the opportunity cost, implying that the resource rent is greater than the profit., Fishery economists often define economic welfare inconsistently because the resource rent or profit is maximized even when a producer and/or consumer surplus exists. In this paper, we propose a solution to this problem by departing from general economic concepts such as resource rent, producer surplus and consumer surplus. We argue that the rents and surpluses, which ought to be included in economic welfare, depends upon whether: a. fishing effort is heterogeneous or homogeneous; and b. the output price is constant or non-constant. To investigate which assumptions that are most reasonable, we have conducted reviews of the existing fishery economic literature. Based on these reviews, we conclude that the total resource rent, producer surplus and consumer surplus are significant, implying that the sum of these rents and surpluses is the most appropriate definition of total economic welfare. We also argue that the resource rent (opportunity cost)rather than the profit (actual cost)ought to be included in a welfare function for fisheries. Based on our own simple calculations, we show that the actual cost is greater than the opportunity cost, implying that the resource rent is greater than the profit.

Data from a unique nationwide recreational fishing survey in Sweden is used to estimate benefits of recreational fishing in Sweden, differences between regions and age groups, and how they relate to expected catch. The data targets the whole Swedish population, and as a consequence a large fraction of zero fishing days exists in the sample. To consider this, a zeroinflated Poisson model was used. Swedes fished around 16 million days in 2013, of which twothirds was spent on inland fishing, and one third was spent on marine and costal fishing. Expected consumer surplus per fishing day vary over the season, from about SEK 23 for winter fishing, to SEK 148 for summer fishing. The highest consumer surplus values are found among the youngest and the oldest age groups that were surveyed. Expected catch is an important determinant for number of fishing days, but catch increases mainly influence summer fishing.

This paper is the first to develop a measure of consumer surplus for the Random Regret Minimisation (RRM) model. Following a not so well-known approach proposed two decades ago, we measure (changes in) consumer surplus by studying (changes in) observed behaviour, i.e. the choice probability, in response to price (changes). We interpret the choice probability as a well-behaved approximation of the probabilistic demand curve and accordingly measure the consumer surplus as the area underneath this demand curve. The developed welfare measure enables researchers to assign a measure of consumer surplus to specific alternatives in the context of a given choice set. Moreover, we are able to value changes in the non-price attributes of a specific alternative. We illustrate how differences in consumer surplus between random regret and random utility models follow directly from the differences in their behavioural premises., Transport and Logistics

This paper is the first to develop a measure of consumer surplus for the Random Regret Minimisation (RRM) model. Following a not so well-known approach proposed two decades ago, we measure (changes in) consumer surplus by studying (changes in) observed behaviour, i.e. the choice probability, in response to price (changes). We interpret the choice probability as a well-behaved approximation of the probabilistic demand curve and accordingly measure the consumer surplus as the area underneath this demand curve. The developed welfare measure enables researchers to assign a measure of consumer surplus to specific alternatives in the context of a given choice set. Moreover, we are able to value changes in the non-price attributes of a specific alternative. We illustrate how differences in consumer surplus between random regret and random utility models follow directly from the differences in their behavioural premises., Transport and Logistics

The hotel industry is characterized by perishability, which means that its services cannot be stored and saved to a later sales opportunity. In that world, a room that is not booked is lost forever. Another thing that also characterizes the industry is that it is seasonally controlled, thus the demand varies between different periods of time and occasions. As hotels tend to have high fixed costs, companies often choose to price their services higher when the opportunity that consumers pay a higher price appears. This can lead to a situation when the consumers feel fooled by the fact that the hotel itself does not create the new conditions that makes the demand rise. As a support for the interviews conducted, a research focused on the real prices has also been conducted where the prices of fifteen hotels in Stockholm were checked for three months on three occasions. To investigate the relationship between these two phenomena, seven hotel employees have been interviewed and shared their experiences of the reality and strategies within hotel industry. In order to get an overall picture, fifty consumers having profiles of potential hotel guests, have been interviewed where they answer questions about different scenarios and estimated prices for hotels of three different classes in Stockholm. The research made it possible to determine some conclusions. It appeared to be important for hotel industry to optimize prices in a way that they reflect the demand. An important tool to achieve this optimization is yield management and it confirms by the driving forces that identifies most often. The result of this reality is that the hotels experience fluctuations of prices over time, with rarely occurring stable pricing curves. Price awareness of customers tend to be raised when their experience of similar purchases is high. It has also been found that high prices do not necessarily have to lower the consumer value and that hotel guests may be willing to pay a higher price due to, Hotellbranschen kännetecknas av förgänglighet, vilket innebär att dess tjänster inte går att spara till ett senare försäljningstillfälle. I den världen går ett rum som inte bokas för alltid förlorad. Något som också kännetecknar branschen är att den är säsongsstyrd och därmed varierar efterfrågan mellan olika tidsperioder och tillfällen. I och med att hotell tenderar att ha höga fasta kostnader, väljer företagen ofta att prissätta sina tjänster högre när möjligheten för att konsumenter betalar ett högre pris uppstår. Detta kan leda till att konsumenterna känner sig lurade i och med att hotellet inte självt skapar de nya förutsättningarna som gör att efterfrågan stiger. Som ett stöd för de genomförda intervjuerna har även en prisundersökning genomförts där priserna på femton hotell i Stockholm under fyra månaders tid kontrollerades vid tre tillfällen. För att utreda hur relationen mellan dessa två fenomen ser ut har sju hotellmedarbetare intervjuats och beskrivit den verkligheten och de strategierna som finns. För att kunna få en helhetsbild har även femtio konsumenter, alltså potentiella hotellgäster, intervjuats där de svarar på frågor om olika scenarier samt uppskatta priser på hotell av olika klasser i Stockholm. Slutsatserna till undersökningen förblev att hotell till en övervägande majoritet använder sig av verktyg som yield management för att hantera dessa fluktuationer i efterfrågan och därmed ser också ett hotells priskurva väldigt sällan stabil ut. De potentiella hotellgästerna ställer sig kluvna i frågan om hur priset på ett hotellrum påverkar det upplevda värdet, vilket också delvis ställer det teoretiska ramverket och det empiriska resultatet emot varandra. Slutsatsen av det är att det finns en komplexitet i detta fenomen, där det finns ett flertal faktorer som erfordras att undersökas vidare för att nå en djupare och bredare förståelse.

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI JUMLAH KUNJUNGAN DAN NILAI EKONOMI KEBUN RAYA BOGORYuzuardi Haban, Rosalina A.M. Koleangan, George M.V. KawungFakultas Ekonomi dan Bisnis, Magister Ilmu EkonomiUniversitas Sam Ratulangi, ManadoABSTRAK Penelitian ini memiliki dua tujuan, tujuan yang pertama untuk mengetahui pengaruh faktor-faktor yang diduga mempengaruhi jumlah kunjungan individu ke Kebun Raya Bogor dengan menggunakan analisis regresi berganda, faktor-faktor tersebut antara lain biaya perjalanan (travel cost), pendapatan (income), umur (age), tingkat pendidikan (education), persepsi kualitas (quality) dan pengaruh substitusi (substitution) tempat wisata sejenis. Tujuan yang kedua adalah untuk mengestimasi nilai ekonomi Kebun Raya Bogor dengan menggunakan salah satu metode penilaian ekonomi yaitu Travel Cost Method (TCM) atau metode biaya perjalanan, sebuah metode berdasarkan survei yang menggunakan biaya perjalanan ke suatu lokasi tujuan untuk mengestimasi fungsi permintaan akan lokasi tersebut. Dengan menerapkan fungsi permintaan dalam model regresi hubungan antara jumlah kunjungan dan variabel yang mempengaruhi jumlah kunjungan dapat diperoleh. Hal ini membuat metode travel cost memungkinkan untuk mengestimasi surplus konsumen yang nilainya digunakan untuk mewakili nilai ekonomi Kebun Raya Bogor. Objek penelitian yang dipilih adalah Kebun Raya Bogor yang merupakan salah satu obyek wisata terkenal di Kota Bogor, Provinsi Jawa Barat. Data yang digunakan dalam penelitian ini menggunakan sampel sejumlah 100 pengunjung Kebun Raya Bogor. Kata kunci: Penilaian Ekonomi, Travel Cost Method, Tempat Wisata, Surplus KonsumenABSTRACT This study has two objectives, the first objective was to determine the influence of the factors suspected to affect the number of individual visits to the Bogor Botanical Garden by using multiple regression analysis, these factors include travel cost, income, age, education level, perceived quality and substitution effect similar sites. The

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI JUMLAH KUNJUNGAN DAN NILAI EKONOMI KEBUN RAYA BOGORYuzuardi Haban, Rosalina A.M. Koleangan, George M.V. KawungFakultas Ekonomi dan Bisnis, Magister Ilmu EkonomiUniversitas Sam Ratulangi, ManadoABSTRAK Penelitian ini memiliki dua tujuan, tujuan yang pertama untuk mengetahui pengaruh faktor-faktor yang diduga mempengaruhi jumlah kunjungan individu ke Kebun Raya Bogor dengan menggunakan analisis regresi berganda, faktor-faktor tersebut antara lain biaya perjalanan (travel cost), pendapatan (income), umur (age), tingkat pendidikan (education), persepsi kualitas (quality) dan pengaruh substitusi (substitution) tempat wisata sejenis. Tujuan yang kedua adalah untuk mengestimasi nilai ekonomi Kebun Raya Bogor dengan menggunakan salah satu metode penilaian ekonomi yaitu Travel Cost Method (TCM) atau metode biaya perjalanan, sebuah metode berdasarkan survei yang menggunakan biaya perjalanan ke suatu lokasi tujuan untuk mengestimasi fungsi permintaan akan lokasi tersebut. Dengan menerapkan fungsi permintaan dalam model regresi hubungan antara jumlah kunjungan dan variabel yang mempengaruhi jumlah kunjungan dapat diperoleh. Hal ini membuat metode travel cost memungkinkan untuk mengestimasi surplus konsumen yang nilainya digunakan untuk mewakili nilai ekonomi Kebun Raya Bogor. Objek penelitian yang dipilih adalah Kebun Raya Bogor yang merupakan salah satu obyek wisata terkenal di Kota Bogor, Provinsi Jawa Barat. Data yang digunakan dalam penelitian ini menggunakan sampel sejumlah 100 pengunjung Kebun Raya Bogor. Kata kunci: Penilaian Ekonomi, Travel Cost Method, Tempat Wisata, Surplus KonsumenABSTRACT This study has two objectives, the first objective was to determine the influence of the factors suspected to affect the number of individual visits to the Bogor Botanical Garden by using multiple regression analysis, these factors include travel cost, income, age, education level, perceived quality and substitution effect similar sites. The

This paper explores the extent to which the lack of rationality of economic agents has affected the economic fluctuations of the U.S. hog market. The dynamic model of this paper adopts the framework of conventional rational expectations models and nests heterogeneity in expectations in the framework. In particular, the model assumes two types of economic agents. One (rational agent) has rational expectations and the other (boundedly rational agent) has static expectations. A log-likelihood function is constructed based on the model and the fraction of boundedly rational agents is estimated by the function. Subsequently, simulation experiments are performed to investigate the extent to which the presence of boundedly rational economic agents has affected the volatility of the economic variables of the market. In particular, two sets of artificial data are generated by the model, one set with the estimated fraction of boundedly rational agents and the other with their zero fraction. Next, the standard deviations of the quantity and price variables are computed using the simulated data and then compared. The welfare quantified as consumer surplus minus production costs is measured and compared in the same way. Empirical test results indicate that the presence of boundedly rational economic agents has increased the price and quantity volatility by 14 and 25 percent respectively, in the U.S. hog market for the period from 1945 to 1990. However, welfare turns out to be rarely affected by their presence as far as rational economic agents dominate the market.

We study under which conditions a ‘window of opportunity’ for a change from an overfishing situation, with high fishing effort, but low stocks and catches, towards sustainable fishery management arises. Studying the Eastern Baltic cod fishery we show that at very low stock sizes (as they prevailed in the early 2000s) all interest groups involved in the fishery unanimously prefer maximum-sustainable-yield management (as prescribed by the management plan in place since 2007) over the previous overfishing situation. With increasing stock sizes, the present value of fishermen surplus would be higher when switching back to overfishing again, while other interest groups maintain their preference for sustainable fishery management.

The hotel industry is characterized by perishability, which means that its services cannot be stored and saved to a later sales opportunity. In that world, a room that is not booked is lost forever. Another thing that also characterizes the industry is that it is seasonally controlled, thus the demand varies between different periods of time and occasions. As hotels tend to have high fixed costs, companies often choose to price their services higher when the opportunity that consumers pay a higher price appears. This can lead to a situation when the consumers feel fooled by the fact that the hotel itself does not create the new conditions that makes the demand rise. As a support for the interviews conducted, a research focused on the real prices has also been conducted where the prices of fifteen hotels in Stockholm were checked for three months on three occasions. To investigate the relationship between these two phenomena, seven hotel employees have been interviewed and shared their experiences of the reality and strategies within hotel industry. In order to get an overall picture, fifty consumers having profiles of potential hotel guests, have been interviewed where they answer questions about different scenarios and estimated prices for hotels of three different classes in Stockholm. The research made it possible to determine some conclusions. It appeared to be important for hotel industry to optimize prices in a way that they reflect the demand. An important tool to achieve this optimization is yield management and it confirms by the driving forces that identifies most often. The result of this reality is that the hotels experience fluctuations of prices over time, with rarely occurring stable pricing curves. Price awareness of customers tend to be raised when their experience of similar purchases is high. It has also been found that high prices do not necessarily have to lower the consumer value and that hotel guests may be willing to pay a higher price due to, Hotellbranschen kännetecknas av förgänglighet, vilket innebär att dess tjänster inte går att spara till ett senare försäljningstillfälle. I den världen går ett rum som inte bokas för alltid förlorad. Något som också kännetecknar branschen är att den är säsongsstyrd och därmed varierar efterfrågan mellan olika tidsperioder och tillfällen. I och med att hotell tenderar att ha höga fasta kostnader, väljer företagen ofta att prissätta sina tjänster högre när möjligheten för att konsumenter betalar ett högre pris uppstår. Detta kan leda till att konsumenterna känner sig lurade i och med att hotellet inte självt skapar de nya förutsättningarna som gör att efterfrågan stiger. Som ett stöd för de genomförda intervjuerna har även en prisundersökning genomförts där priserna på femton hotell i Stockholm under fyra månaders tid kontrollerades vid tre tillfällen. För att utreda hur relationen mellan dessa två fenomen ser ut har sju hotellmedarbetare intervjuats och beskrivit den verkligheten och de strategierna som finns. För att kunna få en helhetsbild har även femtio konsumenter, alltså potentiella hotellgäster, intervjuats där de svarar på frågor om olika scenarier samt uppskatta priser på hotell av olika klasser i Stockholm. Slutsatserna till undersökningen förblev att hotell till en övervägande majoritet använder sig av verktyg som yield management för att hantera dessa fluktuationer i efterfrågan och därmed ser också ett hotells priskurva väldigt sällan stabil ut. De potentiella hotellgästerna ställer sig kluvna i frågan om hur priset på ett hotellrum påverkar det upplevda värdet, vilket också delvis ställer det teoretiska ramverket och det empiriska resultatet emot varandra. Slutsatsen av det är att det finns en komplexitet i detta fenomen, där det finns ett flertal faktorer som erfordras att undersökas vidare för att nå en djupare och bredare förståelse.

The aim of this research was to evaluate the non-market products of a forest park in north of Iran. Required socio-economics data were collected using questionnaires. Travel cost method was used to estimate the economics and recreational values. Regression analysis was used to estimate some socio-economics variables on behavior of forest park visitors. The economics and recreational values of forest park calculated via the demand function. The results of regression analysis showed that the variables such as required time to access the site, travel cost, monthly income, age and education effect on visiting people to the forest park. The results showed that there is a linear relation between required time to access the park and number of visitors. The results indicated that there is a polynomial relation between the number of visitors and the travel cost. The results of regression analysis showed that there is a third degree polynomial relation between the number of visitors and income. Furthermore, the results of demand function showed that the daily value of recreational site or consumer surplus is 68319800 Iranian Rials. The results of this study can be a powerful tool to improve the quality of environmental services and expand service and infrastructure quality of the study area.

Coconut is an important food crop in the Sri Lankan economy which utilises nearly 20 percent of its arable lands. This industry is shifting from an export orientation to a domestic industry; mainly due to the population-driven domestic demand and stagnating coconut production. Nearly 65 per cent of annual production is consumed domestically as fresh coconut, while the remaining 35 per cent is utilised by the processing sector for products including coconut oil, desiccated coconut and copra. Coconut production fluctuates with climate. This yield fluctuation has considerable impact on industry stakeholders due to inelastic supply of and demand for fresh coconuts. Government interventions are ad hoc and numerous. Further, the effectiveness of these strategies is questioned in the absence of a consistent analytical framework. This study developed an economic framework; an equilibrium displacement model for the Sri Lankan coconut industry which analyses the impact of different policy interventions. The model was tested for seven hypothetical scenarios of external shocks. The model was subsequently used to analyse the likely impact of climate change in this study. An analytic hierarchy process was used to estimate the biophysical impact of coconut yield under future climatic scenarios. Climate, soil and topography were the main considerations of the model. The outcomes of this model as yield changes were used as a supply shift in the economic model. The total change in economic benefits and distribution of these benefits were estimated to find out the magnitude of the economic shock and impact on different stakeholders. The findings show that the coconut industry in Sri Lanka will face a loss equivalent to 4,795 Rs.Million which is nearly 5 percent of the total value of the industry at equilibrium. The mostly affected stakeholders are wholesalers and domestic coconut consumers. Then the impact of different adaptation options and cost effectiveness were considered to addre

The people of Sweden have a long history of being engaged in sport organizations. Recently though, a decline of participation in sport organizations has been detected. The Swedish society has evolved immensely lately and with it new marketing techniques, new communication tools and new values have seen the light of day. The thesis of this study is to examine how non-profit sport organizations function in the areas of organizational culture, internal communication, consumer surplus and branding. The theories have been selected to provide background knowledge in the different functioning areas of an organization and to see how they cooperate in order to make marketing efforts more effective. The primary data has been collected with the use of semi structured interviews with representatives from the participating organizations. Additional primary data has been collected in the form of observations of published digital posts from the organizations communicational channels, to complement the data received in the interviews. The result shows that the principles of non-profit sports organizations are outdated and therefore differs from the rest of the society. The prevailing culture is one whom focuses primary on performance. This is reflected in their communication where the digital communication is somewhat neglected whilst the verbal forms of communication are highly developed. The only area where the involvement of members is coherent is in the context of performance.

Jordan faces an archetypal combination of high water scarcity, with a per capita water availability of around 150 m3 per year significantly below the absolute scarcity threshold of 500 m3, and strong population growth, especially due to the Syrian refugee crisis. A transition to more sustainable water consumption patterns will likely require Jordan’s water authorities to rely more strongly on water demand management in the future. We conduct a case study of the effects of pricing policies, using an agent-based model of household water consumption in Jordan’s capital Amman, in order to analyze the distribution of burdens imposed by demand-side policies across society. Amman’s households face highly intermittent piped water supply, leading them to supplement it with water from storage tanks and informal private tanker operators. Using a detailed data set of the distribution of supply durations across Amman, our model can derive the demand for additional tanker water. We find that integrating these different supply sources into our model causes demand-side policies to have strongly heterogeneous effects across districts and income groups. This highlights the importance of a disaggregated perspective on water policy impacts in order to identify and potentially mitigate excessive burdens.

The people of Sweden have a long history of being engaged in sport organizations. Recently though, a decline of participation in sport organizations has been detected. The Swedish society has evolved immensely lately and with it new marketing techniques, new communication tools and new values have seen the light of day. The thesis of this study is to examine how non-profit sport organizations function in the areas of organizational culture, internal communication, consumer surplus and branding. The theories have been selected to provide background knowledge in the different functioning areas of an organization and to see how they cooperate in order to make marketing efforts more effective. The primary data has been collected with the use of semi structured interviews with representatives from the participating organizations. Additional primary data has been collected in the form of observations of published digital posts from the organizations communicational channels, to complement the data received in the interviews. The result shows that the principles of non-profit sports organizations are outdated and therefore differs from the rest of the society. The prevailing culture is one whom focuses primary on performance. This is reflected in their communication where the digital communication is somewhat neglected whilst the verbal forms of communication are highly developed. The only area where the involvement of members is coherent is in the context of performance.

BACKGROUND: The US Food and Drug Administration has established a policy of substantially discounting the health benefits of reduced smoking in its evaluation of proposed regulations because of the cost to smokers of the supposed lost pleasure they suffer by no longer smoking. This study used data from nine countries of the former Soviet Union (fSU) to explore this association in a setting characterised by high rates of (male) smoking and smoking-related mortality. METHODS: Data came from a cross-sectional population-based study undertaken in 2010/2011 in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia and Ukraine. Information was collected from 18 000 respondents aged ≥18 on smoking status (never, ex-smoking and current smoking), cessation attempts and nicotine dependence. The association between these variables and self-reported happiness was examined using ordered probit regression analysis. RESULTS: In a pooled country analysis, never smokers and ex-smokers were both significantly happier than current smokers. Smokers with higher levels of nicotine dependence were significantly less happy than those with a low level of dependence. CONCLUSIONS: This study contradicts the idea that smoking is associated with greater happiness. Moreover, of relevance for policy in the fSU countries, given the lack of public knowledge about the detrimental effects of smoking on health but widespread desire to quit reported in recent research, the finding that smoking is associated with lower levels of happiness should be incorporated in future public health efforts to help encourage smokers to quit by highlighting that smoking cessation may result in better physical and emotional health.

This thesis uses zonal travel cost method (ZTCM) to estimate consumer surplus of Peace & Love festival in Borlänge, Sweden. The study defines counties as zones of origin of the visitors. Visiting rates from each zone are estimated based on survey data. The study is novel due to the fact that mostly TCM has been applied in the environmental and recreational sector, not for short term events, like P&L festival. The analysis shows that travel cost has a significantly negative effect on visiting rate as expected. Even though income has previously shown to be significant in similar studies, it turns out to be insignificant in this study. A point estimate for the total consumer surplus of P&L festival is 35.6 million Swedish kronor. However, this point estimate is associated with high uncertainty since a 95 % confidence interval for it is (17.9, 53.2). It is also important to note that the estimated value only represents one part of the total economic value, the other values of the festival's totaleconomic value have not been estimated in this thesis.

SVENSK SAMMANFATTNING Titel: Why Pay When You Can Get It For Free? A quantitative study of the web-based music industry Seminariedatum: 4 juni 2014 Kurs: FEKH19 Kandidatkurs i Strategic Management, 15 Hp Författare: Erika Fredriksson, Louise Klintner, Evelina Wennerberg Handledare: Christine Blomquist Nyckelord: Web-based music services, Buyer switching costs, Sampling, Willingness to pay, Versioning, Bundling, Consumer surplus, Network effects Syfte: Syftet med denna studie är att undersöka konkurrensen på den webbaserade musikmarknaden i Sverige. Metod: Undersökningen består av en kvantitativ studie baserad på empirisk data som vi samlat in via enkäter online. Enkäten består av maximalt 17 frågor, som är skrivna baserade på relevanta teorier. Vår data analyserades med hjälp av det statistiska programmet SPSS, med syfte att testa våra tre hypoteser. Teoretiska perspektiv: En intressant paradox angående konsumtion av webbaserad musik är att det verkar som att konsumenter oberoende av ålder och inkomstnivå väljer att betala för webbaserad musik, trots att musiken finns tillgänglig kostnadsfritt på marknaden. Det finns många teorier i ämnet om konkurrens på en sådan marknad. Samtidigt som vissa forskare påstår att konkurrens kan förklaras genom traditionella teorier, argumenterar andra att detta är en marknad där nya affärsmodeller bör utvecklas. Några återkommande begrepp i dessa teorier är t.ex. buyer switching costs, betalningsvilja för musik samt huruvida de webbaserade musiktjänsterna associeras med nätverkseffekter. Dessa koncept ligger som teoretisk grund för detta arbete. Empiri: Vår population består av personer mellan åldrarna 18-29 år som bor i Sverige och använder minst en webbaserad musiktjänst. Vi räknade ut vår urvalsstorlek på 271 personer med en 90 % konfidensnivå med en felmarginal på 5 %. Enkäten distribuerades via Facebook, och vi fick till slut 263 svar. Sammanfattning: Denna studie ska ses som en pilotstudie, och vi ämnar inte generalisera på hel, IN ENGLISH Title: Why Pay When You Can Get It For Free? A quantitative study of the web-based music industry Seminar date: 4 of June, 2014 Topic/Course: FEKH19 Bachelors Thesis in Strategic Management, 15 University Credits Points (UPC) or ECTS-credits) Authors: Erika Fredriksson, Louise Klintner, Evelina Wennerberg Advisor: Christine Blomquist Key words: Web-based music services, Buyer switching costs, Sampling, Willingness to pay, Versioning, Bundling, Consumer surplus, Network effects Purpose: The purpose of this study is to investigate the competition on the web-based music market in Sweden. Methodology: The research consists of a quantitative study based on empirical data collected through electronically distributed surveys. The survey consists of a maximum of 17 questions (the survey varied in length depending on what the respondent answered), which were written based on theories relevant to the purpose. The data was analyzed through the use of the statistical program SPSS with the aim of testing three hypotheses. Theoretical perspectives: An interesting paradox when discussing web-based music consumption is that regardless of age and income levels, consumers seem to pay for web-based music despite having the ability to access it on the market virtually for free. Researchers have developed many theories on the matter of what competition could look like on such a market. Whilst some researchers claim that the competition can be explained through traditional theories, others argue that this is a market for which new business models need to be developed. A few reoccurring concepts which arise in these theories are the buyer switching costs associated with the music services, the consumers’ willingness to pay for the music and whether or not web-based music services display network effects. These concepts lay the theoretical grounds for this paper. Empirical foundation: Our population consists of people between the ages of 18-29 years who live in Sweden a

Antitrust authorities consider commodity bundling as an extension of monopoly power to other markets which harms consumers. This paper analyzes quality competition and its effect on consumer surplus for the case of commodity bundling by a multi-product firm in a vertically differentiated industry. When the firm bundles a high quality good, we show that bundling negatively affects the quality of a competing good, consumer surplus, and welfare. When the firm bundles a low quality good instead, bundling raises the quality of a competing good, enhances consumer surplus, and may increase the welfare.

This paper assesses travellers' responses to the use of existing Park-and-Ride (P&R) services based on an economical welfare maximisation approach. Specifically, the paper presents a modelling framework to estimate consumer surplus and producer surplus (business profits) on the basis of modal choice probabilities. The paper draws on evidence from Stated Preference surveys conducted around two P&R sites in Sapporo, Japan, where P&R services occupy a modest market space. Overall, the results suggest that business profit increases when economical welfare is maximised, as a consequence of increased demand. It is also shown that P&R choice is not only influenced by parking fees, but also by the fares and other attributes of alternative transportation modes. Accordingly, the interactions of P&R with alternative transportation modes should be taken into consideration in any strategic transportation policies oriented towards motivating sustainable transport mode choices.

This paper assesses travellers' responses to the use of existing Park-and-Ride (P&R) services based on an economical welfare maximisation approach. Specifically, the paper presents a modelling framework to estimate consumer surplus and producer surplus (business profits) on the basis of modal choice probabilities. The paper draws on evidence from Stated Preference surveys conducted around two P&R sites in Sapporo, Japan, where P&R services occupy a modest market space. Overall, the results suggest that business profit increases when economical welfare is maximised, as a consequence of increased demand. It is also shown that P&R choice is not only influenced by parking fees, but also by the fares and other attributes of alternative transportation modes. Accordingly, the interactions of P&R with alternative transportation modes should be taken into consideration in any strategic transportation policies oriented towards motivating sustainable transport mode choices.

SVENSK SAMMANFATTNING Titel: Why Pay When You Can Get It For Free? A quantitative study of the web-based music industry Seminariedatum: 4 juni 2014 Kurs: FEKH19 Kandidatkurs i Strategic Management, 15 Hp Författare: Erika Fredriksson, Louise Klintner, Evelina Wennerberg Handledare: Christine Blomquist Nyckelord: Web-based music services, Buyer switching costs, Sampling, Willingness to pay, Versioning, Bundling, Consumer surplus, Network effects Syfte: Syftet med denna studie är att undersöka konkurrensen på den webbaserade musikmarknaden i Sverige. Metod: Undersökningen består av en kvantitativ studie baserad på empirisk data som vi samlat in via enkäter online. Enkäten består av maximalt 17 frågor, som är skrivna baserade på relevanta teorier. Vår data analyserades med hjälp av det statistiska programmet SPSS, med syfte att testa våra tre hypoteser. Teoretiska perspektiv: En intressant paradox angående konsumtion av webbaserad musik är att det verkar som att konsumenter oberoende av ålder och inkomstnivå väljer att betala för webbaserad musik, trots att musiken finns tillgänglig kostnadsfritt på marknaden. Det finns många teorier i ämnet om konkurrens på en sådan marknad. Samtidigt som vissa forskare påstår att konkurrens kan förklaras genom traditionella teorier, argumenterar andra att detta är en marknad där nya affärsmodeller bör utvecklas. Några återkommande begrepp i dessa teorier är t.ex. buyer switching costs, betalningsvilja för musik samt huruvida de webbaserade musiktjänsterna associeras med nätverkseffekter. Dessa koncept ligger som teoretisk grund för detta arbete. Empiri: Vår population består av personer mellan åldrarna 18-29 år som bor i Sverige och använder minst en webbaserad musiktjänst. Vi räknade ut vår urvalsstorlek på 271 personer med en 90 % konfidensnivå med en felmarginal på 5 %. Enkäten distribuerades via Facebook, och vi fick till slut 263 svar. Sammanfattning: Denna studie ska ses som en pilotstudie, och vi ämnar inte generalisera på hel, IN ENGLISH Title: Why Pay When You Can Get It For Free? A quantitative study of the web-based music industry Seminar date: 4 of June, 2014 Topic/Course: FEKH19 Bachelors Thesis in Strategic Management, 15 University Credits Points (UPC) or ECTS-credits) Authors: Erika Fredriksson, Louise Klintner, Evelina Wennerberg Advisor: Christine Blomquist Key words: Web-based music services, Buyer switching costs, Sampling, Willingness to pay, Versioning, Bundling, Consumer surplus, Network effects Purpose: The purpose of this study is to investigate the competition on the web-based music market in Sweden. Methodology: The research consists of a quantitative study based on empirical data collected through electronically distributed surveys. The survey consists of a maximum of 17 questions (the survey varied in length depending on what the respondent answered), which were written based on theories relevant to the purpose. The data was analyzed through the use of the statistical program SPSS with the aim of testing three hypotheses. Theoretical perspectives: An interesting paradox when discussing web-based music consumption is that regardless of age and income levels, consumers seem to pay for web-based music despite having the ability to access it on the market virtually for free. Researchers have developed many theories on the matter of what competition could look like on such a market. Whilst some researchers claim that the competition can be explained through traditional theories, others argue that this is a market for which new business models need to be developed. A few reoccurring concepts which arise in these theories are the buyer switching costs associated with the music services, the consumers’ willingness to pay for the music and whether or not web-based music services display network effects. These concepts lay the theoretical grounds for this paper. Empirical foundation: Our population consists of people between the ages of 18-29 years who live in Sweden a

This thesis uses zonal travel cost method (ZTCM) to estimate consumer surplus of Peace & Love festival in Borlänge, Sweden. The study defines counties as zones of origin of the visitors. Visiting rates from each zone are estimated based on survey data. The study is novel due to the fact that mostly TCM has been applied in the environmental and recreational sector, not for short term events, like P&L festival. The analysis shows that travel cost has a significantly negative effect on visiting rate as expected. Even though income has previously shown to be significant in similar studies, it turns out to be insignificant in this study. A point estimate for the total consumer surplus of P&L festival is 35.6 million Swedish kronor. However, this point estimate is associated with high uncertainty since a 95 % confidence interval for it is (17.9, 53.2). It is also important to note that the estimated value only represents one part of the total economic value, the other values of the festival's totaleconomic value have not been estimated in this thesis.

The object of this article, product of an investigation project, is to demonstrate with an inductive and Cartesian methodology application, those public political beliefs of urban and public road development with a private support is more helpful than state monopoly. For such purposes, the law and economics is basic to get the conclusion. It was as well as a particular case was taken from a road project in the city of Cartagena de Indias, namely, Quick Access Corridor of Cartagena., El objetivo de este artículo, que fue producto de un proyecto de investigación, es el de demostrar mediante la aplicación de una metodología cartesiana, inductiva, que las políticas públicas en materia de desarrollo urbano y vial, con el apoyo de los particulares generan mayores beneficios que con el monopolio estatal. Para tales efectos, elementos del análisis económico del derecho fueron fundamentales para llegar a esta conclusión. Fue así como, se tomó un caso particular y concreto de un proyecto vial en la ciudad de Cartagena de Indias, esto es, Corredor de Acceso Rápido a la Variante de Cartagena.

English: Economic efficiency is used as a proxy for the social welfare of a country's citizens and therefore it is held that if the efficiency of a country improves, so will the social welfare of its citizens. The efficiency of markets determine a country's overall efficiency and social welfare and as a result, the purpose of Competition Law has generally been to increase the efficiency of a county's markets. The efficiency of markets in turn, is increased by competition and therefore, Competition Law is generally aimed at maintaining and promoting competition, which is also the case in South Africa. Stated differently, efficiency is the purpose of Competition Law and competition the vehicle by which efficiency is enhanced. Central to Competition Law is the concept of the “efficiency defence.” In terms of the efficiency defence, efficiencies are used to justify conduct that limits competition within a relevant market (anti-competitive conduct). The general presumption is that anticompetitive conduct is detrimental to efficiency. This is not always true and in some instances anti-competitive conduct may in fact result in increased economic efficiency. The efficiency defence is the tool used to justify anti-competitive conduct in circumstances where limiting competition will result in increased economic efficiency. Despite the obvious flexibility the efficiency defence provides to competition authorities in their quest to enhance the efficiency of an economy, most jurisdictions have been reluctant to accept efficiencies as a defence against anti-competitive conduct. The South African Competition Act is still in its infancy and as a result, there are a number of grey areas pertaining to its interpretation and application. One of these areas of uncertainty pertains to the interpretation and application of the efficiency defence in South African competition matters. To date, the competition authorities have only once interpreted the efficiency defence and that was in the, Afrikaans: Doeltreffendheid word beskou as 'n aanduiding van die sosiale welvaart van 'n land se burgers. Daarom word dit beskou dat die sosiale welvaart van 'n land gesamentlik toeneem met 'n toename in die doeltreffenheid van 'n land. 'n Land se algehele doeltreffendheid en sosiale welvaart is weer op hulle beurt afhanklik van die doeltreffendheid van 'n land se markte en daarom is Mededingingsreg gewoonlik daarop gemik om die markte van 'n land te reguleer. Verder word dit aanvaar dat mededinging aanleiding gee tot 'n toename in die doeltreffendheid van markte en gevoglik is die hoofdoel van Mededingingsreg in die algemeen, soos die geval in Suid-Afrika, om mededinging te beskerm en te bevorder. Die doeltreffendheidsverweer is 'n uiters belangrike beginsel in Mededingingsreg deurdat hierdie verweer dit moontlik maak vir die respondent om die doeltreffendhede wat voortspruit uit sy verbode handeling te gebruik om die verbode handeling te regverdig. Hierdie verbode handelinge is handelinge wat mededinging in die toepaslike mark beperk of belemmer (hierna beperkende handelinge). Die algemene veronderstelling is dat beperkende handelinge tot 'n afname in doeltreffendheid lei. Dit is egter nie altyd die geval nie en onder sekere omstandighede kan beperkende handelinge 'n toename in doeltrefendheid teweebring. Onder hierdie omstandighede is dit die doeltreffendheidsverweer wat toegepas word om te verseker dat 'n beperkende handeling wat tot 'n toemane in doeltreffendheid lei nie verbied word nie. Ten spyte van die buigsaamheid wat die doeltreffendheids aan mededingingsowerhede verskaf in hulle strewe na doeltreffendheid, is die meeste jurisdiksies grootliks gekant teen die idee dat doeltreffendhede gebruik kan word om beperkende handelinge te regverdig. Die Suid-Afrikaanse Wet op Mededinging het slegs 13 jaar gelede in werking getree en gevolglik bestaan daar steeds talle grys areas rondom die uitleg en toepassing daarvan. Die uitleg en toepassing van die doeltreffendh

This dissertation consists of three essays on Hedonic price method which is widely used in non-market good evaluation. The first chapter outlines three topics involved and briefly discusses the motivations and methods, as well we some conclusions in each of the following chapters. Chapter 2 uses a conventional first stage hedonic price method to estimate the effect of an aquatic invasive species (Eurasian watermilfoil) on lakefront property values at selected Vermont lakes. Results indicate that as the primary component of total aquatic macrophyte growth in a lake Eurasian watermilfoil significantly and substantially affects lakefront property values. As Eurasian watermilfoil infests a lake, adding to the total macrophyte growth, property values can diminish by <1% to 16% for incremental increases in the infestation level. Hence, policies that successfully prevent infestations have significant economic benefits to owners of lakefront properties and local communities. Chapter 3 focused on a previously unexplored potential impact of 9/11—the impact it may have had on housing prices near mosques. Using a unique dataset that combines the locations of functioning mosques with housing transactions near the time of 9/11, combined with a generalized difference-in-differences framework, we find that housing prices decreased by approximately 7% ($10,559 for the average home) in areas near mosques along the east coast of the U.S. on average in the two years following the attacks. However, on the west coast we find no evidence that 9/11 caused a systematic decrease in housing prices near mosques. Chapter 4 begins from a conventional model of hedonic equilibrium where a nonmarket amenity is conveyed as an attribute of a differentiated traded good. Different metropolitan areas may have different equilibrium price functions due to geographic variation in consumer preferences, income, and production costs. We demonstrate that under relatively mild restrictions on the geographic ext

Den svenska telekommarknaden präglas av en oligopolsituation, där de fyra största företagen utgör 97,5 procent av marknaden, och den främsta konkurrensen sker om befintliga kunder. TeliaSonera är marknadens största företag och de saluför de två operatörerna Telia och Halebop, medan Tele2 är det näst största företaget och de saluför operatörerna Tele2 och Comviq. Inom den svenska telekombranschen har operatörerna förhållandevis liknande tjänsteerbjudanden och det är därför viktigt att skapa sig ett starkt varumärke som differentierar sig ur mängden samt bidrar till att skapa synergieffekter för företag som har två varumärken. Ett varumärke kan användas för att skapa värde för både konsumenten och företaget samt etablera en relation mellan dessa parter. Det värde som företaget skapar med varumärket benämns som brand equity, vilket kan ses ur ett kundvärdebaserat respektive finansiellt perspektiv. Det finns dock oklarheter i hur detta värdeskapande faktiskt sker. Uppsatsens syftar därför till att analysera hur TeliaSonera och Tele2 hanterar brand equity samt vilka synergieffekter som kan uppnås av att använda sig utav två varumärken. Vidare har empirin frambringats genom en metodtriangulering bestående av en kvantitativ webbenkät för privatpersoner med ett kvalitativt inslag som är baserad på viktiga variabler relaterade till brand equity, djupintervjuer med företagsrepresentanter för TeliaSonera och Tele2, samt intervju med en marknadskommunikatör. Uppsatsen visar att de studerade företagen använder sig av två varumärken på olika sätt, där TeliaSonera skiljer sina operatörer i syfte att nå olika kundsegment, medan Tele2 skiljer dessa genom att fördela dem mellan kontantkort och abonnemang. Överlag visade sig branschen svag på att förmedla budskap till kunderna, vilket kan ses som en brist då det är viktigt för att kunden ska kunna identifiera sig med varumärket. Då operatören Halebop konkurrerar med Tele2 och Comviq om priskänsliga kunder, samtidigt som Halebop har et, The Swedish telecommunications market is characterized as an oligopoly, where the four largest firms represent 97.5 percent of the market, and the main competition takes place regarding existing customers. TeliaSonera is the market's largest company who promotes the two operators Telia and Halebop, while Tele2 is the second largest company who promotes Tele2 and Comviq. Due to the Swedish telecom operators have relatively similar offerings, it is important to create a strong brand which differentiates itself from the crowd and helps to create synergies for companies that have two brands. A brand can be used to create value for both consumer and companies, and establish a relationship between these parties. The value that the company creates with the brand is referred to as brand equity, which could be viewed from a customer based or financial perspective. However, there is ambiguity in how this value creation is actually occurring. Therefore this paper regard to analyze how these companies handle brand equity, and study the synergies that can emerge from using two brands. Furthermore the empirical data has been generated by method triangulation, consisting a quantitative online survey with a qualitative element for consumers, that is based on key factors related to brand equity, along with interviews with representatives of the companies TeliaSonera and Tele2, and also with a market communicator. The study shows that the two companies are using two kinds of brands in separated ways, where TeliaSonera distinguish their operators in order to meet different customer segments, while Tele2 distinguishes them by distributing them between prepaid cards and subscriptions. Overall the industry was weak in transmission messages to customers, which can be seen as a weakness because it is important for customers to identify themselves with the brand. The operator Halebop competes with Tele2 and Comviq to price-sensitive customers, and regarding to that Halebop has a higher cust

Den svenska telekommarknaden präglas av en oligopolsituation, där de fyra största företagen utgör 97,5 procent av marknaden, och den främsta konkurrensen sker om befintliga kunder. TeliaSonera är marknadens största företag och de saluför de två operatörerna Telia och Halebop, medan Tele2 är det näst största företaget och de saluför operatörerna Tele2 och Comviq. Inom den svenska telekombranschen har operatörerna förhållandevis liknande tjänsteerbjudanden och det är därför viktigt att skapa sig ett starkt varumärke som differentierar sig ur mängden samt bidrar till att skapa synergieffekter för företag som har två varumärken. Ett varumärke kan användas för att skapa värde för både konsumenten och företaget samt etablera en relation mellan dessa parter. Det värde som företaget skapar med varumärket benämns som brand equity, vilket kan ses ur ett kundvärdebaserat respektive finansiellt perspektiv. Det finns dock oklarheter i hur detta värdeskapande faktiskt sker. Uppsatsens syftar därför till att analysera hur TeliaSonera och Tele2 hanterar brand equity samt vilka synergieffekter som kan uppnås av att använda sig utav två varumärken. Vidare har empirin frambringats genom en metodtriangulering bestående av en kvantitativ webbenkät för privatpersoner med ett kvalitativt inslag som är baserad på viktiga variabler relaterade till brand equity, djupintervjuer med företagsrepresentanter för TeliaSonera och Tele2, samt intervju med en marknadskommunikatör. Uppsatsen visar att de studerade företagen använder sig av två varumärken på olika sätt, där TeliaSonera skiljer sina operatörer i syfte att nå olika kundsegment, medan Tele2 skiljer dessa genom att fördela dem mellan kontantkort och abonnemang. Överlag visade sig branschen svag på att förmedla budskap till kunderna, vilket kan ses som en brist då det är viktigt för att kunden ska kunna identifiera sig med varumärket. Då operatören Halebop konkurrerar med Tele2 och Comviq om priskänsliga kunder, samtidigt som Halebop har et, The Swedish telecommunications market is characterized as an oligopoly, where the four largest firms represent 97.5 percent of the market, and the main competition takes place regarding existing customers. TeliaSonera is the market's largest company who promotes the two operators Telia and Halebop, while Tele2 is the second largest company who promotes Tele2 and Comviq. Due to the Swedish telecom operators have relatively similar offerings, it is important to create a strong brand which differentiates itself from the crowd and helps to create synergies for companies that have two brands. A brand can be used to create value for both consumer and companies, and establish a relationship between these parties. The value that the company creates with the brand is referred to as brand equity, which could be viewed from a customer based or financial perspective. However, there is ambiguity in how this value creation is actually occurring. Therefore this paper regard to analyze how these companies handle brand equity, and study the synergies that can emerge from using two brands. Furthermore the empirical data has been generated by method triangulation, consisting a quantitative online survey with a qualitative element for consumers, that is based on key factors related to brand equity, along with interviews with representatives of the companies TeliaSonera and Tele2, and also with a market communicator. The study shows that the two companies are using two kinds of brands in separated ways, where TeliaSonera distinguish their operators in order to meet different customer segments, while Tele2 distinguishes them by distributing them between prepaid cards and subscriptions. Overall the industry was weak in transmission messages to customers, which can be seen as a weakness because it is important for customers to identify themselves with the brand. The operator Halebop competes with Tele2 and Comviq to price-sensitive customers, and regarding to that Halebop has a higher cust

In a multi-commodity framework with absence of wealth effects, we prove the existence of equilibrium for Cournot oligopoly, and that the concept is completely non-ambiguous. We also obtain a uniquely defined endogenous inverse demand function, depending only on the competitive sector.