Business and Economics Research Journal

1-9

Authors: Özgün Ekici, Bugra Caskurlu

This paper introduces the location choice under spillovers game: A number of firms choose from among a number of alternative locations. A firm’s payoff at some location is the sum of two factors: Its location-specific idiosyncratic payoff; and the positive spillover it receives, which is a function of the number of firms choosing the same location. The spillover function is location-specific and monotonically increasing. This game form can be viewed as an extension of the classic “battle of sexes” game. It can also be used to model real-life game-theoretic situations with network effects, such as when app users choose from alternative social media or instant messaging apps. In our main result, we show that the location choice under spillovers game is a potential game, and hence, it always admits a Nash equilibrium in pure strategies. We also show that: A Nash equilibrium outcome need not be Pareto efficient. An outcome that is Pareto efficient need not be a Nash equilibrium. And a Nash equilibrium is not necessarily a strong equilibrium.

31-57

Authors: Cengiz Samur

The bubble of price, as theoretical, is “too big deviation of asset’s price from its fundamental (intrinsic) value”. In regard to the country, as empirical; (i) financial asset price bubble happens when “a change (increase) in the financial nominal price index (percent) exceeds the sum of inflation and economic growth rates, at least as 25 %”, on the other hand, (ii) the bubble burst happens when there is “a too sharp decline in the financial asset nominal price index”, and when there is a decrease in the index in related to the total of inflation and growth rates, at least as 20%. Since the 2008 Financial Crisis, the debate of “financial bubbles and correct monetary policy” has been blown: Is macroeconomic stability possible in the country without financial stability? Is it required and possible to prevent a bubble formation and its growth? What should the Central Bank do? How should the monetary policy respond to the bubbles? The study is important due to its contribution to this debate. In this study, the financial bubbles that occurred quarterly in the period of 1990-2019 and in the three countries (in South Korea, Philippines, and Thailand) , which were amongst the countries at the core of the 1997 Asian crisis, are handled. They are essentially focused on the bubble bursts. It is the purpose to determine there is a connection between bubble burst cases and cumulative real cost, decrease in growth rate, or economic contraction. If there is a strong relation, to maintain macroeconomic stability in the markets, the government has to fulfill proactive (macroprudential) policies and has to intervene not only on bubble bursts, but also on bubble’s formation. However, some relations with only weak or middle degrees were reached.

127-141

Authors: Abdulkadir Ozturk

It is considered that individuals should know the concept of halal and be aware of the conditions that make a product halal in order for consumers to have the intention to purchase halal products. The aim of this study is to find out the attitudes and purchase intentions of consumers towards halal chicken products under the model of knowledge, attitude and practice (KAP). It also aimed to determine consumers’ halal awareness of halal chicken products and the effect of perceived psychological risk on purchase intention. The data required for the study were collected from the individuals who purchased chicken using convenience sampling method through an online questionnaire form. The data collection process was completed with the participation of 410 people assumed to represent the universe. The research model and hypotheses between variables were tested using the structural equation modeling method. The results of the analysis show that knowledge about halal products, awareness of halal products, and perceived psychological risk have a significant and positive influence on attitudes toward halal chicken products. In addition, attitudes towards halal chicken products, awareness of halal products, and perceived psychological risk were found to have a significant and positive influence on purchase intention.