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The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Advertisements facilitate certain emotions, subsequently influencing purchase intentions. Humor, as an influential way of information expression, is frequently used in ads to elicit emotions. Drawing upon literature on advertisement humor and new product purchase intention and the theory of planned behavior, the study proposes that humor stimulation in advertisements can affect consumers' new product purchase intentions, in which two process mechanisms, namely, emotional arousal and cognitive flexibility, play a mediating effect.

To test the assertions, the authors conduct three experimental studies. The authors' first study assesses the main effect between advertisement humor and purchase intentions. In the second study, the authors show the mediating effects of emotional pleasure, emotional arousal, and cognitive flexibility on the relationship between advertisement humor and purchase intentions. In the first two experiments, the authors study incremental new products. In the third study, the authors study the same mediating relationships for radically new products.

This study's results show consumers that watch humorous ads are more likely to choose new products than those who watch non-humorous ads (Study 1); compared with non-humorous ads, humorous ads can enhance emotional arousal, thus promoting cognitive flexibility and making consumers more inclined to choose new products (Study 2 and Study 3). That said, the authors find that these mediation effects are only partial.

This study's results have important implications for firms vying to enhance consumers' new product purchase intentions by deploying humorous ads.

As a result of both shifting social concerns and stricter legislation, many companies are seeking innovative and sustainable solutions for both primary and secondary packaging. The craft beer industry has made the most notable advancements with a variety of alternatives to the traditional secondary packaging (e.g. plastic rings) used to link beer cans. Yet, despite the impact packaging has on consumer purchase behavior and the environment, secondary packaging has received far less attention in the literature. This study aims to understand consumer perceptions of craft beer secondary packaging on consumers’ willingness to buy via the underlying mechanisms of perceived packaging innovation and sustainability.

A single-factor between-subjects experiment with four conditions (secondary packaging format: Pak-Tech holder, Keel Clip holder, Glue-Pack holder, Biodegradable holder) was conducted with 354 participants to test the hypothesized serial mediation model.

The results demonstrate that none of the secondary packaging styles had a direct effect on willingness to buy, meaning that the package style alone does not influence a consumer’s purchase decisions. Critically, the results also revealed indirect effects; specifically, the Keel Clip and Glue-Pack six-pack can holders were perceived as more innovative than the Pak-Tech holder, which in turn positively influenced perceptions of packaging sustainability and subsequent willingness to buy.

The authors’ results extend the research on sustainable secondary packaging and aids craft breweries along with other beverage producers in making informed decisions as the push for sustainable packaging becomes more prominent.