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Jenny C. Aker, Department of Agricultural and Resource Economics, Department of Agricultural and Resource Economics, University of California, Berkeley. aker@are.berkeley.edu. Amir Heiman, Department of Agricultural Economics and Management, The Hebrew University of Jerusalem, Rehovot, Israel, E-mail: Heiman@agri.huji.ac.il. Bruce McWilliams, Instituto(More)
This paper investigates the processes underlying consumers’ memory-based store price judgments. The numerosity heuristic implies that the greater the number of relatively lower priced products at a store that consumers can recall, the lower will be their overall price image of the store. That is, people use the number of recalled low-price products to judge(More)
While scientific research has not found any evidence that the production and consumption of genetically modified (GM) foods (e.g., eating meat that was fed GM food) are either directly or indirectly hazardous, consumers are still uncertain about its safety and therefore refrain from its consumption if they have alternatives. Consumers’ resistance to GM food(More)
This paper uses the disappointment aversion and prospect theory to estimate consumers’ valuation of basic 30-day money-back guarantees (MBGs). We test how this valuation changes when the duration of MBGs vary, risk increases (store versus catalog), and return options change (store credit versus cash back) using data collected in Northern California. Our(More)
In this paper we present the design of a still image coder. The system is built around the TNS320 digital signal processor, and is based on the Adaptive Cosine Transform Coding (ACTC) algorithm presented by Chen and Smith [1]. The algorithm is simplified in order to overcome the TMS320 hardware limitations, and computational shortcuts are introduced to(More)