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This paper aims to clarify the effect of discount discrepancy (DD) on consumers’ purchase intention (PI). The authors propose, test and provide evidence and explanations about the moderation of justification in the relation between consumers’ perceived DD and PI.

The authors conducted three experimental studies with a 2 × 2 factorial design, focusing on consumers’ processing of price discounts. Participants were informed that this study aimed to gather opinions on fashion, clothing and retail sales promotions. They accessed the questionnaire via Qualtrics. Each participant took part in only one study. The experimental conditions were manipulated through scenarios.

Study 1 tested and supported the moderation of justification on the effect of DD on PI. Study 2 tested and supported the moderation of the type of justification for the effect of DD on PI. Study 3 confirmed the findings in Study 2 and revealed the more effective type of justification.

The authors focused on a typically hedonic product category (fashion clothing). Further research should include a wider variety of goods and services, which could lead to different explanations or generalizations.

Sales promotions must refrain from generating DD between the initial price discount and the subsequent smaller discounts. Practitioners must evaluate the gains of an initial, more considerable percentage discount to attract consumers to the store and sell them other products versus the cost of losing sales because of DD. Management should recognize the importance of giving the correct justification for perceived DD, aligning the firm’s justification with the consumer’s motivation to buy the product.

The authors offer subsidies for effective consumer protection policies.

By studying the influence of justification on the effect of DD on PI, the authors propose a mechanism that would reduce the negative effect of DD on consumers’ PI.

Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of financial literacy constant. The three big questions adopted by Lusardi and Mitchell were utilized to assess the financial literacy of our subjects before they were asked to complete 20 incentivized intertemporal decisions. A small, delayed reward and a slightly bigger one were incorporated into the intertemporal decisions with a delay of 30 days. The ordinary least square (OLS) shows that the negative relationship between financial literacy and discount rates was held when the delayed reward was small. Interestingly, when the delayed reward became slightly bigger, their discount rates were reduced significantly with the negatively framed message. These findings suggest that the negatively framed message can motivate individuals to save for a greater return in the real world. Lastly, subjects with the highest level of financial literacy were not responsive to the magnitude effect, proving that a financial literacy program is essential to strengthen the individual's financial plan and reduce their discount rates in the developing country context.

The purpose of this study is to contribute to previous research on customer relationships by quantitatively examining differences in the monetary benefits obtained by consumers using social and commercial relationships to make purchases from small and medium-sized enterprises (SMEs).

Customer transaction and relationship data from an SME in the USA is used to quantitatively assess the value of different marketplace relationships in an entrepreneurial context. Tobit regression is used to empirically model and test the impact of specific relationship characteristics on customer discounts.

Customers using social connections to make purchases obtain significantly larger discounts than customers using commercial connections; customers using direct connections attain significantly larger discounts than consumers using indirect connections (referrals). Interestingly, when examined by connection type, direct and indirect connections do not produce significant differences for social connections, yet they yield notable differences for commercial connections. The findings provide valuable insights to entrepreneurs for understanding and managing customer relationships.

This study empirically demonstrates that social relationships can be both prevalent and influential in the marketplace. The methodology used to quantitatively assess the monetary value associated with different methods of engaging with SMEs allows objective comparisons among different types of customer relationships. Quantification also allows important relationship characteristics to be empirically examined, including how the relationships compare to one another and to nonpersonal marketing activities. Ultimately, these novel contributions generate important insights to help marketers and entrepreneurs better understand customer relationships.

This study investigates how individuals' self-awareness (specifically, private and public self-awareness) and environment-awareness (perceived expertise, similarity and familiarity) shape herd behavior, encompassing discounting one’s information and imitating others. Drawing from latent state-trait theory, this research aims to discern the impact of these factors on purchase intention and behavior.

Longitudinal data from 231 users in Xiaohongshu, China’s leading social commerce platform, were collected to test the proposed model and hypotheses.

The findings from this study show that private self-awareness negatively influences discounting one’s own information and imitating others. Public self-awareness positively affects imitating others, while it does not affect discounting one’s own information. Perceived expertise diminishes discounting one’s own information but does not significantly affect imitating others. Perceived similarity and perceived familiarity are positively related to discounting one’s own information and imitating others. The results confirm different interaction effects between self-awareness and environment-awareness on herd behavior.

First, this contributes back to the latent state-trait theory by expanding the applicability of this theory to explain the phenomenon of herd behavior. Second, this study takes an important step toward theoretical advancement in the extant literature by qualifying that both self- and environment-awareness should be considered to trigger additional effects on herd behavior. Third, this study provides a more enlightened understanding of herd behavior by highlighting the significance of considering the interplay between self- and environment-awareness on herd behavior. Finally, this study also empirically confirms the validity of classifying self-awareness into private and public aspects.

Food waste is a severe problem affecting the supply chain due to its significant adverse social and environmental effects. Even if the topic is hotly debated in the literature, there is a lack of research about the success factors influencing food waste prevention initiatives retailers undertake.

The research analyzes how several variables (i.e. product-related variables and technology-enabling variables) might impact the success of the sales of products close to the expiration date that is sold at a discounted price. Data from 390.000 products sold at a discounted price in 2020 and 2021 by a large Italian food retailer were examined with a regression analysis.

The results highlight that both product-related and technology-enabling variables influence the success of food prevention initiatives aimed at selling products close to the expiration date at a discounted price. In particular, the authors stress the importance of digital technologies in supporting food waste prevention initiatives.

The study offers several practical implications for managers in structuring a waste prevention initiative. The introduction of digital technologies, the monitoring of specific variables or the ability to find synergies with other food waste prevention initiatives are discussed to support retailers in reducing food losses.

The paper is focused on the retailer perspective, which is barely investigated due to the difficulty in finding data.

The purpose of this study is to determine whether the fine wine market is efficient between homogeneous lots and heterogeneous lots.

Auction price data for homogeneous (or solid) lots of fine wines was analyzed to create price prediction models. Those models were used to predict the expected auction price for the bottles within heterogeneous lots. Lastly, models were created to explain and predict the differences between expected and realized prices for heterogenous wine lots.

The results show that large inefficiencies exist. The more complex and expensive the heterogeneous lot, the greater the discount relative to what would have been realized if the bottles had been sold individually. This discount can exceed 50% of the expected auction price.

Heterogeneous lots may arise as a practical requirement from the auction house. Restaurant buyers probably have little interest in such lots because of the inclusion of wines the restaurant will be unable to sell. Collectors may be uniquely positioned to benefit from this price discount.

These results are unique in the literature, because the price dynamics of heterogeneous (or mixed) lots of fine wines have not previously been studied.

This study aims to conduct a bibliometric analysis on “intertemporal choice” behavior of individuals from journals in the Scopus database between 1957 and 2023. The research covered the data on the said topic since it first originated in the Scopus database and carried out performance analysis and content analysis of papers in the business management and finance disciplines.

Bibliometric analysis, including science mapping and performance analysis, followed by content analysis of the papers of identified clusters, was conducted. Three clusters based on cocitation analysis and six themes (three major and three minor) were identified using the bibliometrix package in R studio. The content analysis of the papers in these clusters and themes have been discussed in this study, along with the thematic evolution of intertemporal choice research over the period of time, paving a way for future research studies.

The review unpacks publication and citation trends of intertemporal choice behavior, the most significant authors, journals and papers along with the major clusters and themes of research based on cocitation and degree of centrality and relevance, respectively, i.e. discounting experiments and intertemporal choice, impulsivity, risk preference, time-inconsistent preference, etc.

Over the past years, the research on “intertemporal choice” has flourished because of the increasing interest of researchers and scholars from different fields and the dynamic and pervasive nature of this topic. The well-developed and scattered body of knowledge on intertemporal choice has led to the need of applying a bibliometric analysis in the intertemporal choice literature.

This study examines whether green buildings enjoy more favorable financing terms compared to their non-green counterparts, exploring the presence of a green discount in commercial real estate lending. Despite the extensive research on green premiums on the equity side, lending has received limited attention in the existing literature, even as regulations have increased and ambitious net-zero targets have been set in the banking sector.

In this study, the authors leverage a unique dataset comprising European commercial loan data spanning from 2018 to 2023, with a total loan value exceeding €30 billion. Hedonic regression analysis is used to isolate a potential green discount. Specifically, the authors rely on property assessments conducted by lenders to investigate whether green properties exhibit lower interest rate spreads and higher loan-to-value (LTV) ratios.

The findings reveal the existence of a green discount in European commercial real estate lending, with green buildings enjoying a 5.35% lower contracted loan spread and a 3.92% lower target spread compared to their non-green counterparts. However, this analysis does not indicate any distinct advantage in terms of LTV ratios for green buildings.

This research contributes to a deeper understanding of the interaction between green properties and commercial real estate lending, offering valuable insights for both lenders and investors.

This study, to the best of the authors’ knowledge, represents the first of its kind in a European context and provides empirical evidence for the presence of a green discount.

Showrooming presents a complex and evolving challenge to retail managers, as it signifies the emergence of new forms of exchange rules. The purpose of this research is to investigate how factors responsible for information search and evaluation affect showrooming and also consider the consumer mindset as a moderator.

This research undertakes three experimental designs to investigate how the push (i.e. assortment size), pull (i.e. price discount), and mooring (i.e. sunk cost) factors influence consumers' showrooming intention. Specifically, consumers' maximizing tendency plays the role of moderator.

The results reveal that push, pull, and mooring factors are significantly related to consumers' showrooming intention. Furthermore, the findings show that maximizers have higher showrooming intention than satisficers in the context of the push, pull, and mooring factors.

By integrating the push-pull-mooring framework and the maximizing mindset theory, this research proposes a novel research model and the empirical testing results support six hypotheses. The findings add to the body of knowledge in showrooming behavior by taking consumer mindset into account. The results also provide implications for practitioners to develop their retail strategies.

Background: This study aimed to appraise the monetary value of human life losses associated with COVID-19 in Turkey. To our knowledge, it is the first study in Turkey to value human life losses associated with COVID-19.

Methods: A human capital approach (HCA) model was applied to estimate the total monetary value of the 4,807 human lives lost in Turkey (TMVHL) from COVID-19 by 15 June 2020. The TMVHL equals the sum of monetary values of human lives lost (MVHL) across nine age groups. The MVHL accruing to each age group is the sum of the product of discount factor, years of life lost, net GDP per capita, and the number of COVID-19 deaths in an age group. The HCA model was re-calculated five times assuming discount rates of 3%, 5%, and 10% with a national life expectancy of 78.45 years; and the world highest life expectancy of 87.1 years and global life expectancy of 72 years with 3% discount rate.

Results: The 4807 human life losses from COVID-19 had a TMVHL of Int$1,098,469,122; and a mean of Int$228,514 per human life. Reanalysis with 5% and 10% discount rates, holding national life expectancy constant, reduced the TMVHL by Int$167,248,319 (15.2%) and Int$ 429,887,379 (39%), respectively. Application of the global life expectancy reduced the TMVHL by 36.4%, and use of world highest life expectancy increased TMVHL by 69%. However, the HCA captures only the economic production losses incurred as a result of years of life lost. It ignores non-market contributions to social welfare and the adverse effects of economic activities.

Conclusions: Additional investment is needed to bridge the persisting gaps in international health regulations capacities, universal health coverage, and safely managed water and sanitation services.