Search Results (13)

Background: This paper examines the economic implications of market segmentation on consumer purchasing behavior with a particular emphasis on intertemporal pricing strategies in dynamic markets. Methods: In order to analyze optimal discount rates and the timing for price reductions for consumer segments, including loyal and deal-prone customers, a detailed mathematical model was developed. The model incorporates theories of consumer behavior and pricing elasticity to simulate market responses to price changes throughout a product’s lifecycle. Results: This research indicates that market segmentation enhances sales by targeting the distinct preferences of loyal consumers, who are less price-sensitive and who stabilize revenue streams, and deal-prone consumers, who respond to price reductions. Customizing pricing strategies for loyal consumers and deal-prone consumers increases sales volumes and optimizes profitability. Conclusions: This research improves our comprehension of market segmentation and dynamic pricing, providing a practical framework for businesses to create effective pricing strategies that can be promptly implemented. It emphasizes the significance of understanding consumer behavior and price sensitivity in the interest of revenue promotion. This study also emphasizes the social implications of equitable pricing practices, promoting the implementation of transparent and value-based strategies to promote market inclusivity and consumer trust. Full article

Metachromatic leukodystrophy (MLD) is a fatal inherited lysosomal storage disease that can be detected through newborn bloodspot screening. The feasibility of the screening assay and the clinical rationale for screening for MLD have been previously demonstrated, so the aim of this study is to determine whether the addition of screening for MLD to the routine newborn screening program in the UK is a cost-effective use of National Health Service (NHS) resources. A health economic analysis from the perspective of the NHS and Personal Social Services was developed based on a decision-tree framework for each MLD subtype using long-term outcomes derived from a previously presented partitioned survival and Markov economic model. Modelling inputs for parameters related to epidemiology, test characteristics, screening and treatment costs were based on data from three major UK specialist MLD hospitals, structured expert opinion and published literature. Lifetime costs and quality-adjusted life years (QALYs) were discounted at 1.5% to account for time preference. Uncertainty associated with the parameter inputs was explored using sensitivity analyses. This health economic analysis demonstrates that newborn screening for MLD is a cost-effective use of NHS resources using a willingness-to-pay threshold appropriate to the severity of the disease; and supports the inclusion of MLD into the routine newborn screening programme in the UK. Full article

The study utilizes the Chinese version of the Zimbardo Time Perspective Inventory (ZTPI-C) and a novelty intertemporal prosocial discounting paradigm to explore the preferences of individuals with the Present Impulsive Time Perspective (PITP) and the Future Time Perspective (FTP) in intertemporal prosocial choices, and uncovers the cognitive mechanisms underpinning intertemporal altruism from the personality traits. The findings revealed: (1) The donation behaviors of both groups decreased as time delay rose, aligning with the hyperbolic model. (2) PITP individuals had significantly higher discount rates than those with FTP, and the scores of FTP individuals on the “Future” dimension of the ZTPI-C were positively correlated with the amount of money they were willing to forgo. These results suggest that time perspective, as a stable personality trait, can predict individuals’ intertemporal prosocial preferences. Our research enriches the theory of intertemporal choices and extends the Perceived-time–based model (PTBM) to the domain of intertemporal social preferences. Full article

Dietary and social behaviour are non-medical factors that influence health outcomes. Non-communicable diseases are related to dietary patterns. To date, little is known about how social behaviour is associated with health-related dietary patterns, and, in particular, we lack information about the role of sex within this possible relation. Our cross-sectional study investigated associations between dietary patterns and social behaviour including personality traits (self-control, risk taking), political preferences (conservative, liberal, ecological, social) and altruism (willingness to donate, club membership, time discounting) in men and women. We performed sex-specific correlation analyses to investigate relationships between dietary patterns based on self-reported protocols from the Mediterranean Diet Adherence Screener (MEDAS) and the validated Healthy Eating Index (HEI) from the EPIC Study and a self-reported social behaviour questionnaire. In linear regression models, we analysed associations between dietary and social behaviour patterns. Sex differences were measured by interaction analysis for each social behaviour item. The study sample consisted of N = 102 low-risk individuals. The median age of the study participants was 62.4 (25th/75th percentile 53.6, 69.1) years, and 26.5% were women. Analyses showed that a lower HEI score was correlated with a higher BMI in both women and men. MEDAS and HEI showed a positive correlation with each other in men. In men, a higher MEDAS showed a positive correlation when they estimated their ability as high, with the same for self-control and preference for ecological politics and MEDAS. A weak negative correlation has been shown between men with a preference for conservative politics and MEDAS. HEI showed a positive significant correlation with age in men. Male participants without club membership scored significantly higher in the HEI compared to non-members. A negative correlation was shown for time discounting in men. Linear regression models showed positive associations between preferences for ecological-oriented politics and nutrition for both HEI and MEDAS. No sex interactions were observed. We faced a few limitations, such as a small sample size, particularly for women, and a limited age spectrum in a European cohort. However, assuming that individuals with a preference for ecological-oriented politics act ecologically responsibly, our findings indicate that ecological behaviour in low-risk individuals might determine, at least in part, a healthy diet. Furthermore, we observed dietary patterns such as higher alcohol consumption in men or higher intake of butter, margarine and cream in women that indicate that women and men may have different needs for nutritional improvement. Thus, further investigations are needed to better understand how social behaviour affects nutrition, which could help to improve health. Our findings have the potential to inform researchers and practitioners who investigate the nature of the relationship between social behaviour and dietary patterns to implement strategies to create first-stage changes in health behaviour for individuals with a low cardiovascular risk profile. Full article

Temporal discounting is a phenomenon where a reward loses its value as a function of time (e.g., a reward is more valuable immediately than when it delays in time). This is a type of intertemporal decision-making that has an association with impulsivity and self-control. Many pathologies exhibit higher discounting rates, meaning they discount more the values of rewards, such as addictive behaviors, bipolar disorder, attention-deficit/hyperactivity disorders, social anxiety disorders, and major depressive disorder, among others; thus, many studies look for the mechanism and neuromodulators of these decisions. This systematic review aims to investigate the association between pharmacological administration and changes in temporal discounting. A search was conducted in PubMed, Scopus, Web of Science, Science Direct and Cochrane. We used the PICO strategy: healthy humans (P-Participants) that received a pharmacological administration (I-Intervention) and the absence of a pharmacological administration or placebo (C-Comparison) to analyze the relationship between the pharmacological administration and the temporal discounting (O-outcome). Nineteen studies fulfilled the inclusion criteria. The most important findings were the involvement of dopamine modulation in a U-shape for choosing the delayed outcome (metoclopradime, haloperidol, and amisulpride). Furthermore, administration of tolcapone and high doses of d-amphetamine produced a preference for the delayed option. There was a time-dependent hydrocortisone effect in the preference for the immediate reward. Thus, it can be concluded that dopamine is a crucial modulator for temporal discounting, especially the D2 receptor, and cortisol also has an important time-dependent role in this type of decision. One of the limitations of this systematic review is the heterogeneity of the drugs used to assess the effect of temporal discounting. Full article

Atmospheric pollution control policies have achieved remarkable progress in China since 2013, and the smog protective equipment market has experienced a great boom during the same period. From the perspectives of the health production efficiency hypothesis and the time discount rate hypothesis, this study investigates the relationship between household expenditures on air pollution avoidance and health care, and individuals’ self-assessed health based on network survey data from 17 cities in China. Using the treatment effect model to control the potential endogenous selection problems, we explain the paradox of the growing smog avoidance investment coexisting with improving air quality. First, smog avoidance investment and household medical expenditures do not have substitution effects, while the perception of pollution intensity, pollution protection knowledge, and future health preferences significantly promote smog avoidance investment and medical expenditures. Second, air pollution avoidance investment greatly increases the probability that urban residents rate their health as “good” and “very good”. The results indicate that the time preference hypothesis can explain the pollution avoidance investment behavior and health demands of Chinese urban residents well. The hidden social welfare loss caused by air pollution may still be underestimated, even though short-term avoidance costs are included in the evaluation of pollution impacts. It is necessary to optimize environmental regulations and policies to consistently improve the ecological environment. Full article

Agenda 2030 of Sustainable Development Goals (SDGs) 9 and 11 recognizes tourism as one of the central industries to global development to tackle global challenges. With the transformation of information and communication technologies (ICT), e-tourism has evolved globally to establish commercial relationships using the Internet for offering tourism-related products, including giving personalised suggestions. The contextual suggestion has emerged as a modified recommendation system that is integrated with information-retrieval techniques within large databases to provide tourists with a list of suggestions based on contexts, such as location, time of day, or day of the week (weekdays or weekends). This study surveyed literature in the field of contextual suggestion and recommendation systems with a focus on e-tourism. The concerns linked with approaches used in contextual suggestion and recommendation systems are highlighted in this systematic review, while motivations, recommendations, and practical implications in e-tourism are also discussed in this paper. A query search using the keywords “contextual suggestion system”, “recommendation system”, and “tourism” identified 143 relevant articles published from 2012 to 2020. Four major repositories are considered for searching, namely, (i) Science Direct, (ii) Scopus, (iii) IEEE, and (iv) Web of Science. This review was carried out under the protocols of four phases, namely, (i) query searching in major article repositories, (ii) removal of duplicates, (iii) scan of title and abstract, and (iv) complete reading of articles. To identify the gaps in current research, a taxonomy analysis was exemplified into categories and subcategories. The main categories were highlighted as (i) review articles, (ii) model/framework, and (iii) applications. Critical analysis was carried out on the basis of the available literature on the limitations of approaches used in contextual suggestion and recommendation systems. In conclusion, the approaches used are mainly based on content-based filtering, collaborative filtering, preference-based product ranking, and language modelling. The evaluation measures for the contextual suggestion system include precision, normalized discounted cumulative, and mean reciprocal rank, while test collections comprise Internet resources. Given that the tourism industry contributed to the environmental and social-economic development, contextual suggestion and recommendation systems have presented themselves to be relevant in integrating and achieving SDG 9 and SDG 11 in many ways such as web-based e-services by the government sector and smart gadgets based on reliable and real-time data and information for city planners as well as law enforcement personnel in a sustainable city. Full article

Paying attention to impacts of behavioral factor on energy efficiency (EE) investments, this study attempts to identify preference characteristics affecting EE investments. We model households’ EE investments with time, risk, and social preferences, conduct a survey, and empirically examine the effects of the preference characteristics on home energy retrofit decisions in Korea. We find that the research hypotheses for risk and social preferences that we are derived from the model are supported while those for time preference are partially supported. The results are summarized as follows. First, respondents who discount the future more heavily are less likely to plan a home energy retrofit. Second, very risk-averse respondents are less likely to have experienced a home energy retrofit and very risk-seeking ones are more likely to plan a home energy retrofit. Third, those seriously concerned about environmental issues or who strongly respond to moral norms are likely to have experienced or plan a home energy retrofit. Full article

Research on the impact of school and community food environments on adolescent food choice is heavily reliant on objective rather than subjective measures of food outlets around schools and homes. Gaining the perspective of adolescents and how they perceive and use food environments is needed. The aim of this study was to explore adolescent’s perception and use of the food environment surrounding their schools. Purposive sampling was used to recruit schools. Mapping exercises and discussion groups were facilitated with 95 adolescents from six schools. Thematic analysis showed that adolescents are not loyal to particular shops but are attracted to outlets with price discounts, those with ‘deli’ counters and sweets. Cost, convenience and choice are key factors influencing preference for food outlets and foods. Quality, variety and health were important factors for adolescents but these features, especially affordable healthy food, were hard to find. Social factors such as spending time with friends is also an important feature of food environments that deserves further attention. Adolescents’ perceptions of their food environment provide insights into features that can be manipulated to enable healthy choices. Full article

In order to build and maintain social capital in their Online Social Networks, users need to disclose personal information, a behavior that at the same time leads to a lower level of privacy. In this conceptual paper, we offer a new theoretical perspective on the question of why people might regulate their privacy boundaries inadequately when communicating in Online Social Networks. We argue that people have developed a subjective theory about online privacy putting them into a processing mode of default trust. In this trusting mode people would (a) discount the risk of a self-disclosure directly; and (b) infer the risk from invalid cues which would then reinforce their trusting mode. As a consequence people might be more willing to self-disclose information than their actual privacy preferences would otherwise indicate. We exemplify the biasing potential of a trusting mode for memory and metacognitive accuracy and discuss the role of a default trust mode for the development of social capital. Full article

Groundwater is a form of natural capital that is valued for the goods it provides, including ecosystem health, water quality, and water consumption. Degradation of groundwater could be alleviated through social investment such as for water reuse and desalination to reduce the need for withdrawals from groundwater. This paper develops a participatory planning process—based on combining revealed preference with economic optimization—to choose a desired future for sustaining groundwater. Generation of potential groundwater futures is based on an optimal control model with investment and withdrawal from groundwater as control variables. In this model, groundwater stock and aquatic health are included as inter-temporal public goods. The social discount rate expressing time preference—an important parameter that drives optimization—is revealed through the participatory planning process. To implement the chosen future, a new method of inter-temporal pricing is presented to finance investment and supply costs. Furthermore, it is shown that the desired social outcome could be achieved by a form of privatization in which the pricing method, the appropriate discount rate, and the planning period are contractually specified. Full article

This paper investigates how the introduction of social preferences affects players’ equilibrium behavior in both the one-shot and the infinitely repeated version of the Prisoner’s Dilemma game. We show that fairness concerns operate as a ”substitute” for time discounting in the infinitely repeated game, as fairness helps sustain cooperation for lower discount factors. In addition, such cooperation can be supported under larger parameter values if players are informed about each others’ social preferences than if they are uninformed. Finally, our results help to identify conditions under which cooperative behavior observed in recent experimental repeated games can be rationalized using time preferences alone (patience) or a combination of time and social preferences (fairness). Full article

Moral philosophers and economists have evaluated the intergenerational problem of climate change by applying the whole gamut of theories on distributive justice. In this article, however, it is argued that intergenerational justice cannot imply the application of moral ideal theories to future generations. The formal principle of equality simply requires us to treat like cases as like. If intergenerational justice is to have any meaning, it would require future generations to receive the same treatment under the law and the same treatment from the authorities, as far as cases are like. In the context of climate change, the reasonable man standard from tort law is of particular relevance. There is no justification to handle pollution across generational boundaries according to norms which differ from the (international) laws for handling pollution across national borders. It is argued that this implies, for example, that a zero social rate of time preference should be used in cost-benefit analysis of climate policy: climate damage experienced by future generations should be discounted neither for their higher expected wealth, nor purely for their being remote. Full article