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Bridging Marketing and Economics: Introduction to Special Issue

Bridging Marketing and Economics: Introduction to Special Issue The Japanese Economic Review bs_bs_banner The Journal of the Japanese Economic Association The Japanese Economic Review doi: 10.1111/jere.12192 Vol. 69, No. 3, September 2018 BRIDGING MARKETING AND ECONOMICS: INTRODUCTION TO SPECIAL ISSUE By SUSUMU IMAI and YUKA OHNO Hokkaido University This special issue brings together several novel contributions that bridge marketing and industrial organisation literature. In economics, traditional consumer theory assumes that a consumer makes optimal consumption choices given the budget constraint without frictions. The consumption or demand is a continuous function of income and the price of the products. Such textbook consumer theory assumes away consumer behaviours that are often studied in marketing literature, such as: 1. Consumers can only buy a discrete number of pre-packaged products. 2. Because consumers face shopping costs, there are periods of no purchase when they consume the inventories of products they purchased in the past. Therefore, the amount purchased and the amount consumed are not equal. 3. Consumers do not have full information on the products they buy. Therefore, brands and advertisements are effective in improving the consumer perception of the prod- ucts. These aspects are well known among marketing researchers. They have obtained some of these insights from studying the detailed http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Japanese Economic Review Springer Journals

Bridging Marketing and Economics: Introduction to Special Issue

Imai, Susumu; Ohno, Yuka
The Japanese Economic Review , Volume 69 (3): 3 – Sep 1, 2018
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References (9)

Publisher
Springer Journals
Copyright
2018 Japanese Economic Association
ISSN
1352-4739
eISSN
1468-5876
DOI
10.1111/jere.12192
Publisher site
See Article on Publisher Site

Abstract

The Japanese Economic Review bs_bs_banner The Journal of the Japanese Economic Association The Japanese Economic Review doi: 10.1111/jere.12192 Vol. 69, No. 3, September 2018 BRIDGING MARKETING AND ECONOMICS: INTRODUCTION TO SPECIAL ISSUE By SUSUMU IMAI and YUKA OHNO Hokkaido University This special issue brings together several novel contributions that bridge marketing and industrial organisation literature. In economics, traditional consumer theory assumes that a consumer makes optimal consumption choices given the budget constraint without frictions. The consumption or demand is a continuous function of income and the price of the products. Such textbook consumer theory assumes away consumer behaviours that are often studied in marketing literature, such as: 1. Consumers can only buy a discrete number of pre-packaged products. 2. Because consumers face shopping costs, there are periods of no purchase when they consume the inventories of products they purchased in the past. Therefore, the amount purchased and the amount consumed are not equal. 3. Consumers do not have full information on the products they buy. Therefore, brands and advertisements are effective in improving the consumer perception of the prod- ucts. These aspects are well known among marketing researchers. They have obtained some of these insights from studying the detailed

Journal

The Japanese Economic Review – Springer Journals

Published: Sep 1, 2018

Keywords: economics, general; microeconomics; macroeconomics/monetary economics//financial economics; econometrics; development economics; economic history

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