Role of Signals In Consumers’ Economic Valuation of Restaurant Choices

While businesses provide “signals” related to products/services to alleviate information asymmetry and facilitate consumers’ economic valuation of their offerings, it is not always clear which of these signals is more effective. This study investigated the comparative effectiveness of signals on influencing consumers’ choices and their willingness to pay (WTP) for a restaurant meal. Results of an online stated choice experiment (N =328) suggest that local independent ownership, local sourcing, and food quality significantly influenced individuals’ choices and increased WTP for a meal. Higher food quality signal in a local and independently owned restaurant was associated with a 40% WTP price premium than in a national chain restaurant. Findings of this study contribute to our understanding of signaling factors’ relative influence on an individual’s decision. The study also offers management implications for restaurant owners on how to effectively align signals to target potential consumers.

Effect of Corporate Structure on Autonomy of Top Editors at U.S. Dailies

This study sought to determine whether top editors at chain-owned and large newspapers would have more autonomy and freedom to improve editorial content than top editors at independent and small newspapers. The theoretical rationale is that role specialization promotes increased emphasis on news and editorials and, at the same time, removes the influence of publishers and owners from the news production process. The study found that differences between chain and independent ownership were not significant, but that top editors at larger newspapers did have more autonomy.

Economic Analysis of Commercial Layer Production Decisions for Family Farm Operators

Egg production in Georgia traditionally was by small producers with eggs marketed through retail stores. Beginning in the early 1960's feed millers, egg distributors and broiler integrators began shifting from broilers and other enterprises to commercial egg production. Growth of the industry through the decade of the sixties developed into two different types of production and marketing structures. Industry leaders primarily interested in selling feed, and handling eggs encouraged expansion of independent ownership of flocks by small producers. Independent producers purchased feed and started pullets at retail prices and sold eggs on a grade-yield basis to processor-distributors. Other industry leaders encouraged vertical integration by offering production contracts. Contract producers provided facilities and labor for egg production and received a fixed payment per unit from the integrator. The integrators owned the layers and provided feed, medication and supervision for flocks.