Preview of “Aesthetics + Economics- ...ends + Diffusion Theory”
-
Upload
richiedinero -
Category
Documents
-
view
214 -
download
0
Transcript of Preview of “Aesthetics + Economics- ...ends + Diffusion Theory”
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
1/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
HVWKHWLFV(FRQRPLFV
)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
+RZGR\RXGHFLGHZKHWKHURUQRWWREX\WKDWWUHQG\LWHP":KHQLVLWIDVKLRQIRUZDUGWRDGRSWDWUHQG"+RZGR\RXNQRZ
ZKHQ\RXYHPLVVHGWKHERDWVRWRVSHDN"
,Q(YHUHWW5RJHUVSXWIRUWKWKHIDPRXVWKHRU\RIGLIIXVLRQRILQQRYDWLRQV$FFRUGLQJWR5RJHUVWKHRU\DJLYHQ
LQQRYDWLRQRUUHF\FOHGLQQRYDWLRQDVRIWHQLVWKHFDVHLQIDVKLRQZLOO JRWKURXJKDSURFHVVRIGLIIXVLRQLQWKHSRSXODWLRRYHUWLPH7KLVSURFHVVZLOOSURFHHGLQSKDVHVDVWKHILYHW\SHVRIFRQVXPHUVDGRSWWKHSURGXFW7KHILUVWWRDGRSWWKH
LQQRYDWLRQZLOO EHWKHLQQRYDWRUVHQWKXVLDVWVRUDERXWRIWKHSRSXODWLRQ2QFHWKHLQQRYDWRUVKDYHDGRSWHG
WKHLQQRYDWLRQWKHHDUO\DGRSWHUVZLOO VWDUWWRSLFNXSRQLW2QFHDFFHSWDQFHUHDFKHVDFHUWDLQOHYHOXVXDOO\EHWZHHQ
DQGSHUFHQWWKHUHZLOOEHDWDNHRIIDQGWKHSURGXFWZLOOVZHHSWKHHDUO\DQGODWHPDMRULWLHV7KHODVWWRDGRSWWKH
LQQRYDWLRQZLOOEHWKHODJJDUGV(YHQWXDOO\WKHLQQRYDWLRQZLOOUHDFKVDWXUDWLRQ
5RJHUV
7KHWKHRU\RIGLIIXVLRQRILQQRYDWLRQVLVRIWHQXVHIXOLQXQGHUVWDQGLQJKRZQHZWHFKQRORJLHVVSUHDGWKURXJKSRSXODWLRQ
,OLNHWRWKLQNRIWUHQGVLQIDVKLRQWKLVZD\
:KHQZHFRQVLGHUDVSHFLILFWUHQG\IDVKLRQLWHPZHFDQVLPSO\LGHQWLI\ZKLFKVWDJHRIGLIIXVLRQDQLWHPLVLQDWSUHVHQW
RUZHFDQLOOXVWUDWHWKHHQWLUHSURFHVVXSWRWKHFXUUHQWVWDJH,OLNHWRPDNHDPHQWDOPDSRIWKHGLIIXVLRQRIDJLYHQWUHQG
LQIDVKLRQEHIRUH,GHFLGHZKHWKHURUQRWWRDGRSWLW
7RGRWKLV,ILQGLWLVKHOSIXOWRGUDZRQWKHLGHDVRI0DOFROP*ODGZHOODVZHOO 0DOFROP*ODGZHOOGUHZLQVSLUDWLRQIRU
7KH7LSSLQJ3RLQWIURP5RJHUVZRUN,Q7KH7LSSLQJ3RLQW*ODGZHOOSXWVIRUWKVHYHUDOLGHDVDERXWKRZDJLYHQ
LQQRYDWLRQRUSURGXFWUHDFKHVFULWLFDOPDVVDQGWLSVEHFRPLQJDQHSLGHPLFLHVZHHSLQJWKHPDMRULWLHVDQGHYHQWXDO
WKHODJJDUGV+HGHVFULEHVFHUWDLQDFWRUVZKRDUHLQVWUXPHQWDOLQFDXVLQJSURGXFWVWRUHDFKDWDNHRIISRLQWDQGDSSOLHV
KLVWKHRUHWLFDOIUDPHZRUNWRWKHKXVKSXSS\DPDMRUIDVKLRQWUHQGRIWKHV:KHQ,WKLQNRIWKHGLIIXVLRQRIIDVKLRQ
WUHQGVLQWHUPVRI5RJHUVWKHRU\,ILQGWKDWRQHRIWKHVHW\SHVRIDFWRUVZKRZHFDQREVHUYHFDXVLQJHSLGHPLFVWRWLSLV
WKRVHZKR0DOFROPWHUPVFRQQHFWRUVRUSHRSOHZKRKDYHKLJKYLVLELOLW\DQGWKXVLQIOXHQFHWKHPDVVHV&HOHEULWLHVDU
WKHFODVVLFFRQQHFWRUV*RLQJEDFNWRWKLVLGHDRI*ODGZHOOVKHOSVPHPHQWDOO\PDSDWUHQGDORQJWKH5RJHUVEHOOFXUYH
7RLOOXVWUDWHWKHLGHDVGHVFULEHGKHUHOHWVILUVWFRQVLGHUDIDVKLRQWUHQGZKLFKKDVMXVWDERXWUHDFKHGVDWXUDWLRQDQGWK
ZHOOFRQVLGHUDWUHQGWKDWKDV\HWWRWLS
7KHFRZER\ERRWKDVMXVWDERXWKLWVDWXUDWLRQDVDWUHQGLQIDVKLRQ,UHFDOOVHHLQJWKH3LHUUH+DUG\VDQWLDJVRQ'DULD
:HUERZ\LQDQHGLWRULDOLQWKH'HFHPEHULVVXHRI3DULV9RJXH&RZER\ERRWVVWDUWHGWREHFRPHSRSXODULQHDUO\
DQGWKHHDUO\DGRSWHUVDQGHDUO\PDMRULW\VWDUWHGWRVQDSWKHPXS+RZHYHUWKH\GLGQRWUHDFKDWLSSLQJSRLQWXQWLO
ZKHQGHSDUWPHQWVWRUHVOLNH1RUGVWURP%ORRPLQJGDOHVHWDORIIHUHGDODUJHVHOHFWLRQRIWKHERRWVVWDUWLQJLQODWH
6XPPHURI,QWHUHVWLQJO\HQRXJKWKHGHSDUWPHQWVWRUHVPDGHFRZER\ERRWVUHDGLO\DYDLODEOHDIHZPRQWKVDIWHU
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
2/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
WKH\VWDUWHGEHLQJVHHQRQDQXPEHURIFHOHEULWLHV/LQGVD\/RKDQ1LFROH5LFKLHDQG0LVFK
%DUWRQWRQDPHDIHZZHUHSKRWRJUDSKHGLQWKHLUFRZER\ERRWVDVHDUO\DV0D\7KLV
ZRXOGVXJJHVWWKDWFHOHEULWLHVDUHUHDOO\NH\GULYHUVLQJHQHUDWLQJGHPDQGIRUDSURGXFWLQ
IDVKLRQDQGLQSHUVXDGLQJODUJHUHWDLOHUVOLNH1RUGVWURPVWRVXSSO\WKHPWRWKHPDMRULW\7K
WUHQGFRQWLQXHGWRVSUHDGWKURXJKWKHPDMRULW\DVELJUHWDLOHUVUHDOO\SXVKHGWKHERRWVIRUWKH
KROLGD\VHDVRQDQGHYHQLQHDUO\&RZER\ERRWVDUHVWLOOPDNLQJWKHLUZD\WRWKH
ODJJDUGVDVWKH\DUHVWLOOEHLQJVROGWKRXJKLQVPDOOHUQXPEHUVLQGHSDUWPHQWVWRUHVDQGRQ
VLWHVOLNH9LFWRULDV6HFUHW
1RZOHWVFRQVLGHUDWUHQGZKLFKKDVVSUHDGWRLQQRYDWRUVDQGVRPHHDUO\DGRSWHUVEXWKDV\HWWRVZHHSWKHPDMRULW\ODFH
XSR[IRUGVKRHVIRUZRPHQ,FDQWVD\,YHEHHQIROORZLQJWKLVRQHFORVHO\DVLWGRHVQRWDSSHDOVWURQJO\WRPHDVRI\H
SHUKDSVLWZLOOJURZRQPHEXW,YHQRWLFHGWKHPLQIDVKLRQVKRZVDQGRQIDVKLRQLQQRYDWRUVIRUVHYHUDOPRQWKV
$ERXWDPRQWKRUWZRDJR,VDZDSKRWRJUDSKRI.DWH0RVVZHDULQJWKHPDQG\HVWHUGD\,VDZ0DU\.DWH2OVHQ
SKRWRJUDSKHGLQDSDLU0DU\.DWH2OVHQZKLOHDIDVKLRQLQQRYDWRULQKHURZQULJKWLVDOVRDPDMRUFRQQHFWRU.DWH
0RVVFRQQHFWVWRPXFKRIWKHHDUO\PDMRULW\EXW,ZRXOGWKLQN0DU\.DWHKDVDEURDGHULQIOXHQFHLQWKHJHQHUDO
SRSXODWLRQ,0+2WKHOLNOLKRRGWKDWR[IRUGVZLOOWLSKDVMXVWLQFUHDVHGVLJQLILFDQWO\
1RWHWRVHHDQ\RIWKHLPDJHVLQWKLVSRVWODUJHUMXVWFOLFNWKHP
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
3/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
6RKRZWRGHFLGHLILWVIDVKLRQIRUZDUGWRDGRSWDWUHQGDWWKLVPRPHQWLQWLPH")LUVWWKLQJVILUVWLI\RXDUHWRWDOO\DYHUVH
WRDWUHQG\LWHPIURPWKHVWDUW\RXGRQWKDYHWRERWKHUZLWKWKLQNLQJDERXWLWVGLIIXVLRQRQWKH5RJHUVFXUYH)RUH[DPSO
,KDWHG8JJVIURPWKHPRPHQW,VDZWKHPDQGQRDPRXQWRISHHULQIOXHQFHFRXOGFKDQJHWKLV,PDGHXSP\PLQGQHYHUW
DGRSWWKHWUHQGEHIRUHHYHQWKLQNLQJDERXWLWVGLIIXVLRQ%XWOHWVDVVXPHWKHUHVDWUHQG\RXDUHFRQVLGHULQJDGRSWLQJ
'HWHUPLQHZKHUH\RXWKLQNWKHWUHQGLVRQWKH5RJHUVEHOOFXUYH2QFH\RXYHGRQHWKLV\RXFDQGHFLGHLI\RXZDQWWR
DGRSWWKHWUHQGRUQRWEDVHGRQDKRZPXFK\RXFDUHDERXWEHLQJDKHDGRIWKHFXUYHEZKHWKHURUQRW\RXKDYH
DFFHVVWRWKHLWHPRUHYHQWKHUHVRXUFHVWRDFTXLUHLWDQGDZKROHVHWRISHUVRQDOFKDUDFWHULVWLFVWKDW,KRSHWRH[SORUHLQD
IXWXUHSRVW
1HHGOHVVWRVD\SHUFHSWLRQVRIWKHGLIIXVLRQSURFHVVHVRIWUHQGVYDU\DORWE\LQGLYLGXDO,SUHGLFWWKDWSOHQW\RISHRSOHZLOO
GLVDJUHHZLWKP\GHVFULSWLRQRIWKHGLIIXVLRQRIFRZER\ERRWVEHFDXVHRXUSHUFHSWLRQVRIWKHSURFHVVZLOOGLIIHU%\WKH
ZD\LI\RXUSHUFHSWLRQRIWKLVGLIIXVLRQGLIIHUVVLJQLILFDQWO\IURPP\RZQ,ZRXOGORYHWRWDONDERXWLWZLWK\RX,WV
IDVFLQDWLQJWRNQRZZKDWRWKHUVSHUFHSWLRQVDUHWKH\RIWHQLQIOXHQFHRXURZQ
,OOEHPDSSLQJVRPHWUHQGVWKLVZD\LQIXWXUHSRVWV1H[WXSVNLQQ\SDQWV
0D\LQWKHRU\_3HUPDOLQN
7UDFN%DFN
7UDFN%DFN85/IRUWKLVHQWU\KWWSZZZW\SHSDGFRPVHUYLFHVWUDFNEDFNDGIHGIGHI
/LVWHGEHORZDUHOLQNVWRZHEORJVWKDWUHIHUHQFH)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
&RPPHQWV
6NLQQ\MHDQVGLIIXVHGKWWSJRRJOHFRPWUHQGV"TVNLQQ\MHDQV&ERRWFXWMHDQV
3RVWHGE\3KLO_0D\DW$0
$OVR,ZURWHDTXLFNSRVWH[SODLQLQJKRZWRSLFNWUHQGVRXWRIWKHDGRSWLRQFXUYHKWWSPLOOLRQDLUHVRFLDOLWHFRP"S
/RQJVWRU\VKRUWFRROKXQWLQJLVDKLWRUPLVVWDFWLFWKDWUHOLHVRQLGHQWLI\LQJREVFXUHEXWLQWHUHVWLQJELWVRIFXOWXUHZKHUHDV
WUHQGVSRWWLQJLVEHVWGRQHE\VSRWWLQJPHPHVWKDWKDYHDOUHDG\EHHQWDNHQXSE\HDUO\DGRSWHUVDQGDUHRQWKHLUZD\LQWRWKH
PDLQVWUHDP
3RVWHGE\3KLO_0D\DW$0
,KRSH\RXDUHQWVXJJHVWLQJWKDW,JRWLQVSLUDWLRQIURP\RXDJDLQ%HFDXVHWKDWLVDEVROXWHO\QRWWKHFDVH-XVWPDNLQJVXUH
3RVWHGE\(OVD_0D\DW$0
-XVWDGGLQJWRWKHGLVFXVVLRQ
%\WKHZD\LI\RXUSHUFHSWLRQRIWKLVGLIIXVLRQGLIIHUVVLJQLILFDQWO\IURPP\RZQ,ZRXOGORYHWRWDONDERXWLWZLWK\RX,WV
IDVFLQDWLQJWRNQRZZKDWRWKHUVSHUFHSWLRQVDUHWKH\RIWHQLQIOXHQFHRXURZQ
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
4/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
3RVWHGE\3KLO_0D\DW$0
,I\RXZHUHMXVWEHLQJIULHQGO\WKDQNVIRUWKHOLQNV
3RVWHGE\(OVD_0D\DW$0
$VDIDQRI0DOFROP*ODGZHOODQGIDVKLRQWKLVZDVDJUHDWUHDG,UHFDOODIULHQGRIPLQHDQLQQRYDWRUKDYLQJFRZER\ERRWVLQ
HDUO\,OLNHGKHUVEXWVKHGIRXQGWKHPLQDWKULIWVWRUHDQGWKHUHZDVQRHTXLYDOHQWWRDQ\ZKHUH%\WKHWLPHWKH\ZHUH
ZLGHO\DYDLODEOH,ZDVVLFNRIWKHP+RZHYHU,ORYHWKHR[IRUGV,JRWDERXWDPRQWKDJRIURPDPD]RQRIDOOSODFHV,WVJUHDWWRVH
KRZGLIIXVLRQDIIHFWVIDVKLRQFKRLFHVLHVDWXUDWLRQYVUDULW\
3RVWHGE\$FFRXQW'HOHWHG_2FWREHUDW30
,DFFLGHQWDOO\FDPHDFURVVWKLVSRVWZKLOHJRRJOLQJWKLQJVUHJDUGLQJP\EHORYHGR[IRUGVREVHVVLRQORODQG,KDYHWRVD\WKLVLV
SUREDEO\RQHRI\RXUEHVWSRVWVHYHU
3RVWHGE\6WHOOD.DH_)HEUXDU\DW$0
ZKDWLV\RXURSLQLRQDERXWDGRSWLRQRIIDVKLRQDQGGLIIXVLRQWKHRU\ZLWKLQDQGEHWZHHQFXOWXUHVDQGQDWLRQV""""
3RVWHGE\PRQLNDPDH_$XJXVWDW30
3RVWHGE\PRQLNDPDH_$XJXVWDW30
3OHDVHWDNHDORRNDWP\DUWEORJIRUUHYHQXHRSSRUWXQLW\
KWWSDUWDQGIDLWKMRKQEORJVSRWFRP
3RVWHGE\WRP_1RYHPEHUDW30
7KDQNVIRUVKDULQJWKLVWRXV,HQMR\HGUHDGLQJWKLVVXFKDQLQIRUPDWLYHSRVW,KRSHWRUHDGPRUHDUWLFOHVDERXWIDVKLRQVRRQ
WKDQNV
PLNHH
3RVWHGE\ZKROHVDOHNLGVFORWKLQJ_$XJXVWDW$0
,KDYHDGRFWRUDOVHPLQDUFODVVDQGWKLVLVEHLQJSUHVHQWHGZRZ
3RVWHGE\$QG\_2FWREHUDW$0
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
5/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
:KDWVWKHFXUUHQWIDVKLRQWUHQGVIRU"
DQ\ZHEVLWHVLWVDSURMHFW
3RVWHGE\JHQHULFYLDJUD_0DUFKDW$0
7KHTXDOLW\LVYHU\JRRGFDQHQWHURXUZHEVLWH
3RVWHGE\FKULVWLDQORXERXWLQ_0DUFKDW$0
5HSOLFDMHUVH\VDUHEHFRPLQJUDSLGO\SRSXODUDVUHJXODUDWWLUH$QGWKHUHIRUH\RXZLOOQRWLFHPDQ\WHHQDJHUVGRQQLQJD%LOO5XVVH
RU2VFDU5REHUWVRQMHUVH\LQSXEVFROOHJHVDQGGLVFRV,QIDFW>XUOKWWSZZZMHUVH\VOHDJXHFRP@QIOMHUVH\V>XUO@HYHQ
LQGLYLGXDOVZKRDUHQRWQEDIDQVKDYHVWDUWHGZHDULQJFKHDS>XUOKWWSZZZMHUVH\VOHDJXHFRP@POEMHUVH\V>XUO@VWKHVHMHUVH\
DVDVW\OHVWDWHPHQW
3RVWHGE\QIOMHUVH\V_0DUFKDW$0
,PVRLQWRIDVKLRQIURPP\GRJWRP\OLYLQJURRPDQGXSWRP\FORVHW,MXVWORYHIDVKLRQ
3RVWHGE\NDPDJUD_$SULODW30
:KDWDJUHDWSRVW$OORIWKHSURMHFWVORRNJUHDW\RXPDNHLWORRNVRVLPSOHWRPDNHWKLVSXUVHWKDW,OOKDYHWRWU\LWP\VHOI7KDQN
3RVWHGE\-RUGDQV_0D\DW$0
WKLVLVRQHRIWKHPRVWH[FHOOHQWUHVRXUFHIXOZHEVLWHVRILWVNLQG
,HQMR\UHDGLQJLWHYHU\GD\6LQQUHSOLFDZDWFKHVKWWSZZZZDWFKHVOX[FRPVLQQZDWFKHVKWPO
,ZLOOEHEDFN
3RVWHGE\UHSOLFDZDWFKHV_-XO\DW$0
,ORYHPHQWDO/DERXUDQGSK\VLFDOODERUSHUKDSVHYHQVDLG,ORYHPDQXDOODERU:KHQLQWKHSK\VLFDOODERULQDQ\JRRGXQGHUVWDQGLQJFRPELQHGWRJHWKHULQWKHKDQGVDQGEUDLQ,IHHOPRUHVSHFLDO'R\RXWKLQNVR"
3RVWHGE\$VLFVVKRHV_6HSWHPEHUDW$0
7KHSRVWLVYHU\LQIRUPDWLYH,ORRNIRUZDUGWRPRUHSRVWV7KDQNV
3RVWHGE\%RRWVBKXE_2FWREHUDW$0
-
7/30/2019 Preview of Aesthetics + Economics- ...ends + Diffusion Theory
6/6
$HVWKHWLFV(FRQRPLFV)DVKLRQ7UHQGV'LIIXVLRQ7KHRU\
DHVWKHWLFVSOXVHFRQRPLFVW\SHSDGFRPDHVWKHWLFVBHFRQRPLFVIDVKLRQBWUHQGVBKWPO
/RYHWKLVPRYLHDVZHOODVWKHVHULDO5HDOO\IXQQ\WKDQNVIRUVKDULQJLWZLWKXV
3RVWHGE\\LZXPDUNHW_2FWREHUDW30
,WVLQWHUHVWLQJDQGIXQWRVHHWKLQJVIURPWKHRWKHUVLGHRIWKHJHQGHUFRLQ,WVRIWHQQRWWRRWHUULEO\GLIIHUHQW7KDQNVIULHQGKWWSZZZVXSUDVKRHVZHEFRP
KWWSZZZQLNHGXQNKLFRP
3RVWHGE\VXSUDVKRHVZHE_-DQXDU\DW$0
,ORYHPHQWDO/DERXUDQGSK\VLFDOODERUSHUKDSVHYHQVDLG,ORYHPDQXDOODERU
3RVWHGE\6WHHOHUVMHUVH\V_)HEUXDU\DW30
,I\RXZHUHMXVWEHLQJIULHQGO\WKDQNVIRUWKHOLQNV
3RVWHGE\'LVFRXQWHG0%76KRHV_$SULODW30
*UHDWSLHFHRIDUWLFOH,WH[SODLQVVRPXFKDERXWWKHWRSLF,VKRXOGVD\LWLVDGHWDLOHGDUWLFOH7DONVDERXWDYDULHW\RIWKLQJV
VRPHWKLQJZKLFK,QHYHUWKRXJKWFRXOGH[LVW:KDW,IRXQGGLIIHUHQWLQ\RXUDUWLFOHLVWKHZD\\RXKDYHJRQHDERXWWRH[SODLQWKH
WRSLFLQDVLPSOLVWLFZD\
3RVWHGE\/HDWKHU-DFNHWV_$SULODW$0
7KHFRPPHQWVWRWKLVHQWU\DUHFORVHG