This paper is a preliminary attempt to use both the value added approach with double deflation and the expenditure approach to deflate China's nominal GDP over 15 years (2004-2018). The results show that China's real GDP growth during the period has significantly more fluctuations than the official statistics indicate. Additionally, inflation, as measured by the official implicit GDP deflator, is generally overestimated during boom years but underestimated during downturn years. In particular, it is shown that China's growth slowdown in recent years before the COVID19 pandemic may have been more severe than official figures suggest.
Purpose This research investigates when and how brands influence attribute importance weights. Most past studies modelling consumer decision processes treated the brand of a product as an attribute parallel to the price, color or size of a product, and as a result, those studies assigned an equal (i.e. non-contingent) importance weight across brands for each attribute. In contrast, this study introduces a brand-contingent attribute-weighting process, in which brand is a higher-order construct that influences attribute importance. Design/methodology/approach This study presents a multi-level choice model in which the importance weight of an attribute can vary across brands. This study then estimates the model using real purchase data and survey data from an airline industry. Findings This study finds that attribute importance weights are contingent upon two aspects of a brand - the perceived relative position of the brand and consumers' brand usage experiences. Specifically, when consumers perceive a brand to be inferior to its competitors in a given attribute, they generally place greater weight on that attribute for that brand. In contrast, when consumers perceive a brand to be superior to its competitors in a given attribute, only consumers with extensive brand usage experiences place greater weight on that attribute for that brand. Practical implications The findings provide managerial insights on brand positioning and segmentation strategies using consumers' brand usage experiences. Originality/Value This study advances the literature on consumer decision processes by modeling an attribute-weighting process that is contingent upon brands. The present study models this process based on consumer behavior theories and estimates the model using real market data.