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People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper is to study the effect of hunger on intertemporal choices and the moderating effect of sensitivity to reward.

Two studies verified these two hypotheses. The first study confirmed the existence of the main effect by manipulating food aroma. In the second study, by manipulating hunger with images, the authors increased external validity of the study and confirmed the regulation of the sensitivity of rewards.

The authors found that hungry people prefer to reap the benefits as early as possible in an intertemporal choice; this effect is significant only for those people who are sensitive to reward.

The research contributes to understand more about which factors will influence Chinese residents’ decisions on savings and spending. It also has practical implication for government policy, for example, proposing new ideas for reducing household savings rate and stimulating consumption.

The results confirmed that hunger significantly affects consumers’ intertemporal choices, which broadened the scope of researches on the factors that influence intertemporal choice, and advanced the study on the influence of individual’s physiological state on intertemporal choices. This study filled the gaps in previous researches, and opened up new research ideas for interdisciplinary study.

This study aims to investigate the psychological process of intertemporal choices between larger-later and smaller-sooner monetary options. Prior research showed consumer impatience – a tendency to prefer a smaller-sooner option over a larger-later option. This research identifies an individual difference that predicts patience and mediators that explain the underlying mechanism.

Two studies are conducted. Study 1 examines whether the implicit theory of intelligence consumers endorse (i.e. entity theory vs incremental theory) constitutes an antecedent of patience and whether their thoughts regarding anticipated purchase with the chosen monetary option (i.e. hedonic versus utilitarian purchase) mediate the relationship. Study 2 analyzes whether psychological reactance toward larger-later options is a mediator in this relationship using a perceived threat to freedom and affect as reactance indicators.

Entity-oriented consumers exhibited less patience than incremental-oriented consumers, especially when anticipating a hedonic purchase. Moreover, entity-oriented consumers perceived a threat to freedom from larger-later options more strongly – this enhanced perception influenced patience through two routes. One route is that the perceived threat to freedom leads to more consideration of a hedonic purchase rather than a utilitarian purchase, thereby decreasing patience. The other route is that the perceived threat to freedom elicits a stronger negative affect, resulting in lower patience.

Findings of this research shed light on the understanding of patience. They demonstrate that consumers’ implicit theory orientation is a crucial individual difference that can explain patience. Also, demonstrating the mediating roles of anticipated purchase using the hedonic/utilitarian classification and psychological reactance expanded literature by showing how they internally interact.

Short delivery time is a feature that can influence consumers’ purchasing decisions and that retailers compete over fiercely. Accordingly, evaluating the effect of delivery time on demand and identifying marketing-mix variables that alter this relationship may influence retailers’ strategies and impact supply chain (SC) performance. The paper aims to discuss these issues.

This study was performed in collaboration with the largest furniture retailer in Italy, which provided its sales and inventory data for 19,000 units sold over a six-month period in 32 stores throughout Italy. Data were analysed using logistic regression with fixed effects.

The value of delivery time for consumers, even in an industry generally characterised by long delivery lead times, is surprisingly high. The evidence reveals that when the delivery time changes from two days to seven days, demand is reduced by 37.5 per cent, although variables related to location and the marketing mix moderate this relationship.

Retailers can use the findings presented herein to drive their inventory and facility planning decisions and support investments in SC integration.

Supply chain management (SCM) studies consider the value of delivery time anecdotally and have neglected empirical estimations of the magnitude of the effects of delivery time on consumer demand. Further, SCM studies have not explored the factors moderating this relationship, although intertemporal choice and service management studies have demonstrated the existence of such factors.

This paper aims to present a theoretical underpinning for the fact that empirical studies have found an inverted-U curve relationship between emigration and per capita income, based on credit restrictions. The implications for tax policy are also analyzed.

Using an intertemporal general equilibrium model, the authors characterize how the presence of an “inverted U-curve” relationship between emigration and per capita income will influence the optimal tax and expenditure policy in a country where agents have the option to move abroad.

Among the results it is shown that if age-dependent taxes are available, the presence of an inverted-U curve provides an incentive to tax young labor harder, but old labor less hard, than otherwise.

This migration model fits the empirical facts of migration better than most of the migration models previously used in the optimal taxation literature.

Among biologists it is generally recognized that market activity is having a devastating effect on the biological world. The current worldwide loss of biodiversity may be of the same order of magnitude as the five mass extinctions which have decimated life on earth during the past 500 million years. One reason for the current crisis is that decisions about resource use are increasingly made from the narrow perspective of market exchange. Decisions made in this context necessarily place a lower value on preservation than those made in a broader social context. Although the phenomenon of discounting generally works against biodiversity conservation, policies may be devised to use discounting to implement land use policies which will take effect in the relatively distant future.

The purpose of this paper is to examine the new rural social pension program’s effect on household consumption in rural China.

The paper employs field data in Hebei Province and comprehensively applies the ordinary least squares regression model and the difference-in-difference matching method.

The findings show that participation in the Program may not obviously increase household consumption, rather it significantly inhibits the marginal propensity of young families’ consumption temporarily without an apparent impact on participating households’ consumption.

In addition to maintain the stability of the basic system framework of the new rural social pension program and preserve or increase the value of the fund under the Program, dynamic adjustments to pension levels should be made as and when appropriate.

The study provides a new empirical evidence for the relationship between the new rural social pension program and consumption and gives insight into potential modifications and improvements to the Program.

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro‐economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets. Suggests that it might be an effective approach in a course on micro‐economics to combine a modern textbook with Grundlagen since they would complement each other in a number of aspects: at least, but very important, in the different emphasis of the time aspect. Finds that in general the English translation of Grundlagen by A.T. Peacock is of an outstanding quality. Mistakes are rare and hardly ever confusing, with the exceptions related to the perfect market and pure competition concepts. So, if one uses the English translation of Grundlagen as a supplement in a course on micro‐economics one may devote some attention to these concepts. It is quite possible that Stackelberg, at least in Grundlagen, is not convinced of the potential compatibility of Chamberlin’s theory of monopolistic competition and the Edgeworth‐Bertrand oligopoly theory with the method he proposes to derive at “peculiarities of price formation in the imperfect market”. Hence the absence of any reference in Grundlagen to these theories may not be at all accidental.

This research examines how construal level shapes the effectiveness of rational (vs emotional) messages for inducing cessation behaviors. Concrete mindsets foster self-improvement goals, whereas abstract mindsets boost self-relevance goals.

In four studies, this research examines the moderating role of construal level on health messages and the underlying mechanism of goal pursuit.

Results demonstrate that concrete (vs abstract) mindsets increase consumers’ intent to engage in cessation behaviors when exposed to rational (vs emotional) messages. Consistent with this study’s theorizing, the authors found that self-improvement goals underlie the effects for concrete mindsets, whereas self-relevance goals mediate the effects for abstract mindsets.

The reported effects are limited to health messages focusing on cessation behaviors.

This research can help public policymakers to design more effective health messages to foster specific cessation behaviors – quitting smoking and reducing drinking – focusing on concrete (vs abstract) mindsets and rational (vs emotional) messages.

This investigation highlights construal level as an important moderator for message appeals (rational vs emotional) on cessation behaviors, along with the underlying mechanism of goal pursuit, thus contributing to health marketing literature.

This paper aims to examine the role of term spreads to predict domestic output and inflation in Malaysia, a country with a relatively less-developed bond market.

The paper uses regression time-series regressions and probit models that control for past values of the dependent variable to determine the forecast performance of term spread on inflation and output in Malaysia.

The paper finds that term spread contains little information about future output and inflation at short horizons. Moreover, the usefulness of term spread to play a greater role in monetary analysis beyond conventional indicators in the case of Malaysia is limited. The degree of usefulness of term spread impediment could be attributed to the relatively fragmented, illiquid and captive bond market characteristics as compared to what is available in more matured and developed markets.

It is useful to incorporate technical and model-based approaches using yield curves beyond the usual indicator analysis from the policy point of view. Models could be used in tandem with other monetary and financial indicators to support discussions on the direction of monetary policy.

An efficient bond market could also play an important role in propagating monetary impulses via the relevant monetary transmission channels. Based on the findings, the paper suggests that there is a strong case to deepen domestic bond market. This would greatly enhance price discovery among market participants, improve risk management away from the traditional source for funds (i.e. banking system) and address supply-related issues.

This paper aims to study the unexplored possibility that priming firms’ corporate social responsibility (CSR) activity in consumers’ minds may impact consumers’ preference for non-firm related consumption and lifestyle choice options with intertemporal trade-offs.

Across four experimental studies, the authors looked at the impact of CSR priming on the preference of participants for later larger versus sooner smaller money (Study 1), saving versus spending (Study 2) and healthy versus unhealthy food choices (Studies 3 and 4). These choice options were not related to the focal firm that practiced CSR. The authors measured the changes in participants’ consideration of future consequences (CFC) as a potential mediator for the results.

The participants in the CSR condition showed a higher CFC and a higher preference for the options with long-term benefits and immediate costs over the ones with long-term costs and immediate benefits, i.e. later larger over sooner smaller money, saving over spending and healthy over unhealthy food. The authors documented a mediation role for CFC.

All the participants in the studies were from the USA. Looking at the cultural differences can enrich the understanding of the impact of CSR on preference for the options with intertemporal trade-offs. Furthermore, this paper builds its theoretical justification based on the assumption of individuals’ acceptance of CSR activities. Nevertheless, consumers may have skepticism about these activities. Future studies may investigate the effect of CSR skepticism of individuals on the proposed effects. Additionally, investigating the moderating roles of individuals’ characteristics like their prosocial concern or their knowledge about choice options might be an avenue for future research.

The findings highlight the benefits of CSR priming on consumers’ welfare and normative behavior. Firms may use the findings to understand and manage the impact of other firms’ CSR communications on the evaluation of their own products.

This research is the first to highlight the impact of CSR priming on consumers’ non-firm-related consumption and lifestyle choices with intertemporal trade-offs. The results showed the positive effect of priming firms’ CSR activities on consumers’ CFC and the mediating role of CFC.