Gurumurthy Kalyanaram, NYIT, Former Professor and Dean, Reports on Latitude of Price Acceptance and Price Range

Gurumurthy Kalyanaram, NYIT , former professor and Dean, presents a short report on latitude of price acceptance and price range.

The reference price range, also known as latitude of price acceptance, denotes one spread measure around the reference price. The width of the latitude of price acceptance depends on the three main factors – acceptable price level, purchase frequency and brand loyalty (Gurumurthy Kalyanaram & Little, 1994). Lichtenstein, Bloch, and Black (1988) found that reference price level and knowledge about prices significantly affect the latitude of acceptance. They suggest that higher reference price leads to wider latitude of acceptance. Consumers with greater knowledge of price distributions of the brands are more likely to observe deviations from their reference prices, thus leading to narrow latitude of price acceptance. Similarly, Rao and Sieben (1992) found that moderately knowledgeable consumers display wider latitude of price acceptance than more knowledgeable consumers.

Gurumurthy Kalyanaram, NYIT, Former Professor and Dean, Reports on Prospect Theory and Its Application to Pricing

Gurumurthy Kalyanaram, NYIT, former professor and Dean, reports on Prospect Theory and its application to Pricing.

Prospect theory (Kahneman&Tversky, 1979; Thaler, 1985) shows that consumers react sharply and adversely to perceived losses, and less favourably to perceived gains.  This principle has found many business applications. For example, Barberis, Huang, and Santos (2001) show that investors react more sharply to losses in investment portfolio. There is asymmetric response to perceived fluctuations in wealth.

The asymmetric response has found wide applications in marketing, and particularly in pricing. Natarajan, Gurumurthy Kalyanaram, and Munch (2010) have shown such responses to new product announcements.

Gurumurthy Kalyanaram on Lawsuits and Policies: a Brief Summary of the Issues At Hand in US Supreme Court’s CertsGranted

Gurumurthy Kalyanaram reports on lawsuits and policies and in this report provides a brief summary of the Issues At Hand in US Supreme Court’s Certs Granted in the first week of October 2014.  The various lawsuits and the issues at hand are summarized.  This summary is adopted from SCOTUSBLOG.

“Tibble v. Edison International — time limit for suing the manager of an employee benefit plan for faulty decisions on investing plan assets.

Dr Gurumurthy Kalyanaram, Dean, Former and Former Professor NYIT and UT Dallas and Expert Witness

REPORTS ON China’s Prosecution of Uighur scholar IlhamTohti

Dr. Gurumurthy Kalyanaram - Dean and former NYIT and UT Dallas professor, and expert witness, Gurumurthy Kalyanaram reports on China’s Prosecution of Uighur scholar IlhamTohti. Gurumurthy Kalyanaram Lawsuit

China filed a criminal lawsuit against Uighur scholar IlhamTohti charging with separatism, a very serious crime in China.  After two days of trial, the Court in China has upheld the charge and has found against Tohti in lawsuit filed by the State.  And now Tohti faces life imprisonment.  Tohti’s case has received great attention from media, policy makers, human right activists, legal scholars and lay men and women.

Gurumurthy Kalyanaram - Reports on The Lawsuits against Union Carbide (US) and British Petroleum (UK)

Gurumurthy Kalyanaram, Dean and former NYIT and UT Dallas professor, and expert witness, Gurumurthy Kalyanaram reports on the two similar lawsuits but with dramatically different adjudications.

Two industrial disasters have brought two different outcomes in the US courts.

First, let us review the Clean Water Act lawsuit filed by the US Department of Justice and others against British Petroleum (BP) for liabilities in the explosion of Deepwater Horizon and massive oil spill in the Gulf of Mexico in April 2010.

Gurumurthy Kalyanaram, Dean, Expert Witness and Former Professor NYIT and UT Dallas – Reports on Expert Witness in Litigation

Gurumurthy Kalyanaram, Dean, Expert Witness and former NYIT and UT Dallas professor Gurumurthy Kalyanaram reports on the need and status of expert witness in lawsuits (litigation).

Experts provide important inputs in arbitrations and litigations (lawsuits). Their input/counsel gives the fact-finder an objective rendition of the facts and assessment of those facts, and facilitates fair adjudication of the dispute/lawsuit.

Without an appropriate expert litigation (lawsuit) can flounder. In a decision in July 2014, Honorable Judge Laura Taylor Swain dismissed the class-action (Celebrex and Bextra) lawsuit against Pfizer because, “Plaintiffs' failure to proffer admissible loss causation and damages evidence is fatal to plaintiffs' claims" after the defendant admitted "without a damages expert a securities fraud trial can't be tried.”

Gurumurthy Kalyanaram – Reports on the Bhopal Tragedy Lawsuit against Union Carbide (US)

Dr Gurumurthy Kalyanaram - Former Dean and former NYIT and UT Dallas professor, and expert witness, Gurumurthy Kalyanaram reports on the Bhopal Tragedy lawsuit against Union Carbide (US).

A lawsuit filed by Earth Rights International in the U.S. District Court against Union Carbide (US) for the Bhopal Gas Tragedy was recently dismissed by Justice John Keenan. I am familiar with John Keenan’s decisions – he is generally inclined to grant motions for summary judgment unless the plaintiff in the lawsuit can show robust evidence of dispute of fact(s). Justice Keenan’s threshold is high. He has been a senior judge since mid-1990s.