Price dispersion in Internet sales: data from an online marketplace contradict lab experiments
Differences between the conventional physical markets and e-commerce question the validity of the established models used for e-commerce, especially in the case of emerging markets. The Internet audience in Russia is 66.5 million people and the Russian market has the biggest online audience in Europe. However the e-commerce development in the Russian markets is now well examined in the existing literature, there is little empirical research concerning relationship with customers on this market. The main goal of this paper is to explore the customer relationship in the e-commerce market in Russia. To reach this goal empirical data were used. 30 in-depth interviews with representatives of Russian internet businesses conducted in 2012 and in 2015.
The underinvestment in the specific assets due to the «hold up» is one of the key issues in the theory of the firm. Till the very end of the twentieth century discussing the «hold up» problem researchers considered only the so-called «selfish» relation-specific investments. But later their attention was switched to the analysis of another specific investments type, named «cooperative» or «cross» investments, which is much more risky than the selfish investments. Besides that, the riskiness of such investments depends on their specifity degree – the specific investments can be partly specific or full specific. In its turn, the degree of specifity determined by the partners’ ability to benefit from selfish or cooperative specific investments in contacts with “alternative” contractors. If such gains equal zero, that specific investments (cooperative or selfish) are full specific to the “main” partner. Respectively, if the gains from partnership with “alternative” contractors are more than zero, that such specific investments are partly specific to the “main” partner.
Unfortunately the present regulatory documents, determining the application the rule of reason, don’t take into account the character of specific investments. The negative consequences of such approach are illustrated in the first part of the article, where the court’s decision in case of Pierre Fabre Dermo-Cosmétique SAS (PFDC) v. Président de l’Autorité de la concurrence, Ministre de l’Économie, de l’Industrie et de l’Emploi is analyzed. The second part of the article is dedicated to the discussion of possible solutions of this problem.
Do you download music or shop online? Who regulates large companies such as Google and Facebook? How safe is your personal data on the internet? Information technology affects all aspects of modern life. From the information shared on websites such as Facebook, Twitter, and Instagram to online shopping and mobile devices, it is rare that a person is not touched by some form of IT every day.
Information Technology Law examines the legal dimensions of these everyday interactions with technology and the impact on privacy and data protection, as well as their relationship to other areas of substantive law, including intellectual property and criminal proceedings. Since the pioneering publication of the first edition over twenty years ago, this forward-thinking text has established itself as the most readable and comprehensive textbook on the subject, covering the key topics in this dynamic and fast-moving field in a clear and engaging style. Focussing primarily on developments within the UK and EU, this book provides a broad-ranging introduction and analysis of the increasingly complex relationship between the law and IT.
Some Internet stores manage to charge prices that are significantly higher than market averages, therefore, obtaining some sort of price premium. This paper is dedicated to building a model that can be used to explain and predict a typical price premium that an Internet store charges for a specific product based on the information about the characteristics of the store and the features of the market for this product. Such models can provide support for pricing and assortment decisions: in particular, they allow detecting products that a store is likely to sell with the highest or the lowest markup based on price premia that are charged by stores with similar characteristics on similar markets.
The article attempts to build the multifactor model of brand loyalty using the method of structural modeling. Using the method of structural modeling, the multifactor model of brand loyalty was created. It was found that brand satisfaction mediates the communication between brand image and brand loyalty, it means that when the customer satisfaction is low, the link between brand image and brand loyalty is high. It is also found that the most important components of brand image are the brand reputation, consumer’s image and perceived quality of the brand. The image of organization and the uniqueness of the brand are not decisive for the perception of the brand and are excluded from the model.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.