The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

Life with Two Languages: An Introduction to Bilingualism.@@@Language Spread: Studies in Diffusion and Social Change.

Sunk costs and market structure: price competition, advertising and the evolution of concentration

https://link.springer.com/content/pdf/10.1057%2Fbm.2000.20.pdf

‘Trust — the social virtues and the creation of prosperity’

This article provides an agenda for future research on brand communication in social media. Based on an overview of the current state of research, a discussion of the theoretical and conceptual challenges of brand communication in social media, and a survey about the expectations of the media and advertising industry, I present six key directions for future research. These six key directions include research on (1) social media influencers, (2) personalized brand content in social media, (3) ethical concerns about the nature of social media content and consumer empowerment, (4) platform characteristics rather than on Facebook, (5) the integration of social media in the media mix and the consumer journey, and (6) using real social media data. Together these six key directions help to shape the social media research agenda.

/pdf/brand-communication-in-social-media-a-research-agenda-2klawkjlsi.pdf

Brand Communication in Social Media: A Research Agenda

An exploratory study of consumers’ perceptions: What are affordable luxuries?

Digital ad spending has been constantly growing in the United States, and advertisers are increasingly allocating larger budgets to social media. Success on social media is largely attributed to coincidental efforts and trial-and-error. Therefore, a theoretical discussion of the processes associated with social media advertising is critically important. Much social media advertising practice, while relying on strategic thinking processes, is the result of considerable trial-and-error. The nature of social media— how accessible, cheap, and easy-to-use they are— has shifted industry standards in terms of the strategic ad production processes. Among the multiple information processing models, the elaboration likelihood model (ELM) and the heuristic systematic model (HSM) have been widely adopted in advertising research. The premise of ELM and HSM is that processing of persuasive messages often occurs in two distinctive ways: activating either the central route or the peripheral route processing.

Social Media Advertising : Unraveling the Mystery Box

This study aims to test the relationship between consumers’ perceptions of product type (utilitarian vs hedonic) and the attentional processes that underlie decision-making among minimally branded products.,This study uses eye-tracking measures (i.e. total fixation duration) and data collected through an online survey.,The study shows that consumers spend more time looking at hedonic (vs utilitarian) and branded (vs unbranded) products, which influences perceptions of quality.,The findings of this research provide guidelines for marketing minimally branded products.,The authors showed that the product type influences the time consumers spend looking at an item. Previous findings about effects of branding are extended to an understudied product category (i.e. live potted plants).

An eye tracking study of minimally branded products: hedonism and branding as predictors of purchase intentions

Social Media Advertising

This study examines how guanxi (relationships, connections) between advertising agencies and their clients impact their creative performance and implementation by integrating both Chinese guanxi an...

Juan Mundel

Papers

An exploratory study of consumers’ perceptions: What are affordable luxuries?

Social Media Advertising : Unraveling the Mystery Box

An eye tracking study of minimally branded products: hedonism and branding as predictors of purchase intentions

Social Media Advertising

Understanding Advertising Client–Agency Relationships in China: A Multimethod Approach to Investigate Guanxi Dimensions and Agency Performance