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The Influence of Consumers' Perspectives of Transaction Costs in Business-to-Consumer Markets, their Risk-bearing Propensity, and the Categories of Goods purchased on Consumers' Preference of Shopping Medium
Title
The Influence of Consumers' Perspectives of Transaction Costs in Business-to-Consumer Markets, their Risk-bearing Propensity, and the Categories of Goods purchased on Consumers' Preference of Shopping Medium.
Creator
Byramjee, Framarz, Korgaonkar, Pradeep, Florida Atlantic University
Abstract/Description
Despite increased internet usage, transactions conducted by consumers via ecommerce still constitute a very small percentage of total U.S. retail sales. To better understand what influences consumers' choices to shop for products or services on the internet versus local retail stores, this study tests the influence of consumers' transaction costs, coupled with the risk-bearing propensity of individuals (risk-taking or risk-averse attitude) in a shopping context, and the category of goods...
Show moreDespite increased internet usage, transactions conducted by consumers via ecommerce still constitute a very small percentage of total U.S. retail sales. To better understand what influences consumers' choices to shop for products or services on the internet versus local retail stores, this study tests the influence of consumers' transaction costs, coupled with the risk-bearing propensity of individuals (risk-taking or risk-averse attitude) in a shopping context, and the category of goods involved in the purchase process (such as search or experience goods), which will ultimately influence consumers' preference of shopping medium (such as online or traditional). This research study introduces the construct of consumers' transaction costs as an important predictor of consumers' preference of shopping medium, develops two segregated categories of consumers' transaction costs, namely the individual costs and the social costs, and implements a system of measurement of these costs with regard to how much they matter to individual consumers with regard to their preference of shopping medium. Several pretests were initially conducted to operationalize the variables and their measurement scales, and to validate the manipulation checks employed for the study. The data for the main study was then collected via four versions of the designed and pre-tested survey instrument, employing a between-subjects design, and subject to the appropriate statistical analyses. The results convey that individuals with higher risk-bearing propensity would prefer the online shopping medium, while individuals with lower risk-bearing propensity would prefer the traditional shopping medium. Further, search goods would have a greater tendency to be bought online, while experience goods would have a greater tendency to be bought in-store. These findings bear support to past literature wherein similar results have been found, and serve to strengthen these conjectures. With regard to the effects of consumers' transaction costs, the individual costs and the social costs tend to only influence consumers' reference of shopping medium without providing a sense of the actual choice of medium. Further, the nonsignificant interaction effects of individuals' risk-bearing propensity and goods' categories with consumers' transaction costs imply that these variables do not moderate the impact of transaction costs on consumers' preference of shopping medium. The study then discusses the analytical and theoretical reasoning pertaining to these results, along with the managerial implications which this research bears, and the limitations of this study which could warrant potential future research.
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Date Issued
2007
PURL
http://purl.flvc.org/fau/fd/FA00000301
Subject Headings
Consumer behavior--Research, Electronic commerce, Internet marketing, Marketing--Psychological aspects, Motivation research (Marketing)
Format
Document (PDF)
The Effects of Preattention in an Online Advertising Context: A Neuroscience Perspective
Title
The Effects of Preattention in an Online Advertising Context: A Neuroscience Perspective.
Creator
Milosavljevic, Milica, Shaw, Eric H., Florida Atlantic University
Abstract/Description
Consumers are exposed to thousands of marketing messages every day. In such a cluttered environment, gaining consumers· attention becomes an increasingly important business objective. This study expands the concept of attention from a simple view of attention as se lection of stimuli to a more elaborate two step process consisting of (I) preattention and (2) focal attention. The focus of this research is on preattention, which is determined by physical characteristics of objects in a visual...
Show moreConsumers are exposed to thousands of marketing messages every day. In such a cluttered environment, gaining consumers· attention becomes an increasingly important business objective. This study expands the concept of attention from a simple view of attention as se lection of stimuli to a more elaborate two step process consisting of (I) preattention and (2) focal attention. The focus of this research is on preattention, which is determined by physical characteristics of objects in a visual scene. This study also i1Pproves the measurement ofpreattention by surveying the neuroscience literature and using a computational model to measure preattention. This improved measure allows us to provide an enhanced explanation of how preattention f::tcilitates mere exposure effects. Results confirm that preattentive processing of an ad in a visual scene affects liking of that ad even when people do not remember previously seeing the advertisement. The study also finds that subtle. preattentive processes require increasing amounts of time in order to affect focal attention and attitude toward the ad.
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Date Issued
2007
PURL
http://purl.flvc.org/fau/fd/FA00000607
Subject Headings
Internet Advertising--Psychological Aspects, Marketing--Psychological Aspects, Advertising--Effective Frequency, Human-Computer Interaction
Format
Document (PDF)
Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market
Title
Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market.
Creator
Sagul, Ryan, Yuhn, Ky-hyang, Florida Atlantic University, College of Business, Department of Economics
Abstract/Description
For the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to...
Show moreFor the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to informational efficiency. The results demonstrate continuously inefficient oil future markets which exhibit decreased informational efficiency during recessionary periods, advocating the adaptive market hypothesis over the efficient market hypothesis.
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Date Issued
2016
PURL
http://purl.flvc.org/fau/fd/FA00004730, http://purl.flvc.org/fau/fd/FA00004730
Subject Headings
Capital market -- Psychological aspects, Energy industries -- Risk management, Financial risk management -- Mathematical models, Futures, Investment analysis, Petroleum industry and trade -- Economic aspects, Stocks -- Mathematical models
Format
Document (PDF)