"SEMIOTICS OF MARKETING"
by
Christian PINSON*
N° 92/22/MKT
* Professor of Marketing, INSEAD, Boulevard de Constance,Fontainebleau 77305 Cedex, France.
Printed at INSEAD,Fontainebleau, France
"SEMIOTICS OF MARKETING"
by
Christian PINSON
ABSTRACT
This paper was commissioned to appear in the forthcoming Encyclopedia of Language and
Linguistics. It aims to survey, in a concise fashion, the diverse theories and uses of semiotics
by marketing scholars.
SEMIOTICS OF MARKETING
Semiosis, i.e. the process by which things and events come to be recognized as signs, is of
particular relevance to marketing scholars and practitioners. The term marketing encompasses
those activities involved in identifying the needs and wants of target markets and delivering the
desired satisfactions more effectively and efficiently than competitors. Whereas early
definitions of marketing focused on the performance of business activities that direct the flow
of goods and services from producer to consumer or user, modern definitions stress that
marketing activities involve interaction between seller and buyer and not a one-way flow from
producer to consumer. As a consequence, the majority of marketers now view marketing in
terms of exchange relationships. These relationships entail physical, financial, psychological
and social meanings. The broad objective of the semiotics of marketing is to make explicit the
conditions under which these meanings are produced and apprehended.
Although semioticians have been actively working in the field of marketing since the 1960s, it
is only recently that semiotic concepts and approaches have received international attention and
recognition (for an overview, see Mick, 1986, Umiker-Sebeok, 1988, Pinson, 1988).
Diffusion of semiotic research in marketing has been made difficult by cultural and linguistic
barriers as well as by divergence of thought. Whereas Anglo-Saxon researchers base their
conceptual framework on Charles Pierce's ideas, Continental scholars tend to refer to the sign
theory in Ferdinand de Saussure and to its interpretation by Hjelmslev.
1. The symbolic nature of consumption.
Consumer researchers and critics of marketing have long recognized the symbolic nature of
consumption and the importance of studying the meanings attached by consumers to the
various linguistic and non-linguistic signs available to them in the marketplace. In a seminal
article, Sidney Levy (1959) suggested that products are 'symbols for sale'. What he meant
was that products are often purchased and consumed for their symbolic as well as their
pragmatic value.
Products (and services) serve three symbolic purposes. First, products allow consumers to
create meaning for themselves, to symbolize to themselves who they are (self concept theory).
The self concept comprises all of an individual's thoughts and feelings about himself. It is an
articulated schema (knowledge structure) that functionally controls how self-referent
information is processed and structurally organized in memory. Second, products are signs
that are essential for creating an identity, a status in the eyes of significant others. The study of
status symbols goes back to Veblen's 1899 book 'The Theory of the Leisure Class' in which
he strongly criticized the 'conspicuous consumption' and 'conspicuous waste' that he saw
around him. Consumers acquire very early the 'language' of consumption symbols. They
learn to make inferences about others based on their choices of consumption objects and prefer
products with images more similar to their self concept and 'ideal self concept' (how the
individual would ideally like to see himself or be seen by others). Finally, products may be
instrumental to the symbolic extension of the self. Extension of the self through the display of
possessions corresponds to a long research traditional in anthropology and sociology and some
of these works (e.g. M. Douglas and B. Isherwood, 1979) have eventually led to the
emergence of a new stream of consumer research (called 'postmodernist'), which has been the
subject of considerable controversy involving methodological and philosophical issues (see
Hirschman, 1989).
2. Products as language.
Products are often perceived and described as being part of a family, constellation or system of
complementary or substitutable objects. This suggests that products are not only signs but also
form sign systems and that they are analyzable in terms of paradigmatic and syntagmatic
relations. While paradigmatic relationships refer to both similarities and differences between
the products under consideration, syntagmatic relationships correspond to a formal proximity,
2
a co-presence, of these products in the same purchase or usage strings. A purchase/usage
'string' or 'chain' consists of all the products bought/used by the consumer in the course of
fulfilling his consumption goal. A product paradigm is a class of products that can occupy the
same place in the syntagmatic string or, in other terms, a set of products, each of which is
compatible with or substitutable for the other in the same usage context (e.g. toque - hood -
bonnet). These products belong to the same associative set by virtue of the function they
share. Syntagmatic product relations refer to the permissible ways in which products succeed
each other or combine together in a usage string. These products are brought together by virtue
of syntactic rules as in clothing codes (e.g. shirt - blouse - jacket) or culinary codes (appetizer -
entree - dessert). These rules reflect cultural or aesthetic conventions. They may also
correspond to functional constraints (other than 'part-whole' or meronymic relations) which
suggest certain ordering as in the following syntagm: facial cleanser - pre-shave lotion - shaver
- after-shave lotion.
While the paradigmatic dimension of the language of products has been well researched and is
ingrained in almost any market-structure and product-image and positioning studies, the topic
of product syntax and syntagmatic relations has received comparatively little attention from
scholars and marketing practitioners. For the most part, marketing researchers have looked at
usage situations to get a feel for which products are perceived to be similar, hence substitutable
(paradigmatic relationships), and have largely ignored how product combinations arise
(syntagmatic relationships). The objectives of syntagmatic research in marketing have been
described (Kehret-Ward, 1988) as involving the following five steps: a) itemize the string of
complementary products required by consumers to achieve a particular consumption goal;
b) identify temporal and/or spatial combinatorial categories for objects which are functionally
related to that goal; c) identify principles for establishing prominence among the combinatorial
categories and d) describe any systematic differences in the combinatorial rules observed by
different user groups.
3
Critics (e.g. NOth, 1988) have objected that students of consumption syntax do not have firm
bases on which to decide what constitutes an 'acceptable' combination of products, and that the
product combinations studied so far are rudimentary (e.g. additive) operations involving
cultural or aesthetic rules and conventions which simply restrict the possibility of combining
certain products for reasons which might be more pragmatic than syntactic in nature.
3. Meaning and Structure in Advertising
Advertising constitutes one of the major fields of applied semiotic research (see Appiano,
1986, Bachand, 1988, Henny, 1987, IREP, 1976, 1983, Moragas, 1980, Peninou, 1972).
Following Barthes (1964), one can distinguish three types of messages in an illustrated
advertisement: the linguistic message (brand name, text...), the uncoded iconic message in
which the 'photographic' image denotes the material object advertised and finally the coded
iconic message. Eco (1968) introduces three additional elements: the verbal and visual tropes,
or rhetorical figures; the loci, or topoi, of argumentation and the enthymemes, i.e. the
incomplete or apparent syllogisms used to persuade emotionally rather than logically.
Metaphor and metonymy are two examples of tropes frequently used by advertisers. Geis
(1982) argues that advertisers (like many other speakers) often employ the strategy of implying
rather than asserting claims and that they should be held responsible for these invalid
`conversational implicatures' (Grice) that derive from what they say. Durand (1970) identified
virtually all of the rhetorical figures used in advertisements and suggested classifying them
according to four rhetorical operations: addition/suppression/substitution/ exchange, and four
relationships between the variable elements: identity/ similarity/difference/opposition.
The 'signifier-signified' dichotomy introduced by de Saussure and Hjelmslev to distinguish
between the material object or ostensible representation of the sign ('signifier') and the mental
concept to which it refers ('signified') has been considered by many applied semioticians the
key to advertising analysis. The importance of semiotic connotations has been clearly shown
in the work of Roland Barthes on advertising images. Denotative signifieds are 'first-order'
4
signifying systems. They correspond to the literal meaning of the advertising sign, to what is
'objectively' referred to in the advertising image. Connotative signifiers are introduced by the
receiver of the advertising message. They correspond to 'second-order signifying systems -
systems which build on already existing ones. While the denotative meaning of an advertising
image is generally viewed as a non-coded, iconic message, its connotative meaning involves a
coded iconic, or symbolic, message that requires interpretation by means of cultural
conventions or codes. Barthes, like other critics of advertising (e.g. Williamson, 1978,
Vestergaard and Schroder, 1988), identifies connotation with the operation of 'ideology' and
production of 'myth'. He also suggests that denotation itself is not innocent or neutral and
participates in the manipulation of the public by creating the illusion that 'it is the first
meaning'.
Pierce's division of signs between icon, index and symbol provides another way of looking at
advertising signs. Iconic advertising signs (e.g. photographic pictures) are used to make the
signifier-signified relationship one of resemblance to the 'real' object or person. Some
advertising signs are used indexically to indicate a further meaning to the one immediately and
obviously signified. The index sets up a relation of 'natural' or existential contiguity. For
example, the co-presence of a woman in front of the Eiffel Tower in the advertisement for Yves
Saint Laurent's 'Paris' perfume indexically suggests French 'Parisienne'. The relationship
between signifier and signified is often not based on resemblance nor on a natural link. In the
case of symbols, the signified is related to the signifier by convention or contract as where a
crown is used as a trademark for a beer.
Structuralist semioticians offer still another research paradigm. The so-called School of Paris
and Algirdas Greimas in particular (see Greimas and Courtes, 1979) has inspired many applied
studies of the 'deep' as opposed to 'surface' structures of advertising messages. A key
principle of this research tradition is that the meaning of a sign can be assessed only in relation
to its structural relationship with other signs. The procedure of commutation (i.e. artificially
changing an element in the advertising message to observe whether the change modifies the
5
meaning) provides one way of recognizing semiotic units (see Porcher, 1976). Differences
between surface and deep messages correspond to different levels of meaning and (intensive
and extensive) complexity. Greimas' model of the generative trajectory of discourse represents
the production of meaning as a pathway which starts at the deep level with abstract relations
(e.g. the semiotic square), ensuring the minimum conditions for signification, and progresses
through semio-narrative and discursive structures to the complex patterns underlying the
manifestation of advertising discourse, whether verbal, visual or otherwise.
The elementary structure of signification involves recognition of the existence of two basic
types of opposition: contradiction (privative relation in the Jakobsonian sense) and contrariety
(qualitative relation). For example, 'female' and 'male' are in a qualitative or contrariety
relation whereas `male'/`non-male' (or `female'rnon-female') correspond to a privative or
contradiction relation. The relations `male'/`non-female' and lemale'tnon-male' correspond
to complementarity relations and the operation which constitutes them is called implication.
Greimas' celebrated semiotic square (Greimas and Courtes, 1979) is a visual representation of
these relations and elementary structure. The interest of the semiotic square for advertising
researchers lies in its ability to model virtual and predictable relations. Potential semantic
positions and processes can be entered onto the semiotic square to produce, ultimately, the
specific items of advertising discourse.
Semio-narrative structures are viewed by Greimasians as the depository of fundamental
signifying forms. They exist at the deep level and correspond to imaginary universals. These
plots or stories are generated from a finite number of elements, disposed in a finite number of
ways, and can be represented according to a model known as the 'narrative schema'. Derived
from Propp's studies of folk-tales and myths, the schema describes the four major elements
which comprise the basic structure of all narratives: contract competence - performance -
sanction. The advertising message can therefore be studied as a 'contract' proposed by its
enunciator to the addressee. To fulfil the 'contract', the enunciator needs to display the
competences which will allow for the performance expected by the addressee to occur. Once
6
the performance has been accomplished the enunciator will receive a positive or negative
sanction reflecting how closely his performance matches the addressee's expectations. The
advertising message quite often establishes an intersubjective relationship which has as its
effect the modification of the status of each of the subjects involved. The addressee, therefore,
should not be viewed as a given but rather is constructed through the portrait of the 'model
reader' (Eco) presented in the message, to which the receiver is invited to conform. It is in this
sense that the receiver is invited to become a co-enunciator, as in the Black & White advertising
campaigns studied by Bertrand (1988): in this campaign, the addressee is identified as
someone who is endowed with the ability to enjoy the use of irony in advertising.
The discursive structures correspond to the spatial, temporal and personal representations
which define the thematic and figurative universe of each advertising discourse. It is through
the discursive structures that the virtualities offered by the semio-narrative structures are
selected and ordered by the enunciator to fulfil a particular narrative function. It is the task of
the semiotician to identify the thematic and figurative roles held by the `actants' (actantial
model) and to study the various forms of narrative programs as well as the values which recur
within them. For example, Floch (1990) shows that car advertising campaigns can be
classified and studied according to four major types of values which may be invested in the car-
object: utilitarian, utopian, critical and hedonic. These four values can be 'projected' onto a
semiotic square to identify which positional values are currently invested, semantically, by car
producers in their advertising discourses and which ones are still available for future campaigns
and product positioning or repositioning attempts.
Jakobson's model of the six functions of communication has received considerable attention
from advertising researchers (see Peninou, 1972). It is seen as a useful and simple
representation of the major tasks of any advertising campaign. It also enables advertisements
to be classified on the basis of which functions are predominant. It will be recalled that the
referential function focuses on the referent (the product or service advertised), whereas the
expressive, or emotive, and conative functions are oriented toward building the enunciator and
7
the addressee, respectively. The conative and referential functions are particularly important in
marketing where producers and sellers are attempting to segment their potential markets by
creating unique images for their products and intended product users. Advertisers have often
been accused of neglecting these marketing objectives in their attempts to capture the audience's
attention (phatic function) or to produce autotelic messages (poetic function), i.e. the message
has no other function beside itself. The sixth function, the metalinguistic, corresponds to
communication strategies where advertisers try to install a code of communication between
themselves and target customers. This code may involve the use of music (as in the famous
DIM pantyhose campaigns), color (e.g. Marlboro's distinctive red and white shapes), or any
other element.
While early semiotic approaches had relegated the receiver of the advertising message to a
rather secondary or passive position, more recent approaches (e.g. Everaert-Desmedt, 1984),
mainly inspired by theories of pragmatics (Austin, Searle, Ducrot) have assigned the receiver a
crucial role in the reception of the message, apparently indicating a resurgence of interest in the
subjective aspect of semiosis. Pragmatics takes into account factors which are external to the
message and is founded on the idea of an intersubjective position on which the (advertising)
discourse acts. In this framework, it is essential to define the enunciator and addressee as
discursive entities which may be totally distinct from the real sender and receiver of the
message. Signification is globally dependent on the context in which the communication act
occurs. The 'illocutionary force' (Austin) of a successful communication, which determines
how it is going to be received, is determined by such factors as what precedes and follows it
(the co-text), what it refers to (referential context), the physical and social surroundings in
which the act takes place (situational context), the activities or intentions of other 'speakers'
participating in the communicative situation (actional context), the expectations, motivations,
interests, the explicit and implicit images that the sender and the receiver have of themselves
and of the communication (psychological context).
8
4. Other semiotic applications
Although advertising is by far the most visible application area, semiotic approaches have also
been successfully applied to other elements of the marketing-mix, particularly to such varied
domains as branding, the design of logos, packaging, products, stores, promotional objects
and so forth. The interested reader is referred to Floch (1990), Umiker-Sebeok (1988) and
Pinson (1988) for a presentation of some of these studies. They testify that, over the past
twenty years, semiotics has taken on a significant role in marketing research. Future work is
expected to give us a better understanding of the principles governing the production and
reception of an expanded range of discourse, in particular of discourses that are mediated
through shapes, materials, colors and other plastic elements ("plastic discourse").
9
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"Shared history or shared culture? Theeffects of time, culture, and performance oninstitutionalization in simulatedorganizations", January 1989.
"Coordinating manufacturing and businessstrategies: I", February 1989.
"Structural adjustment in European retailbanking. Some view from industrialorganisation", January 1989.
"Trends in the development of technologyand their effects on the production structurein the European Community", January 1989.
"Brand proliferation and entry deterrence",February 1989.
"A market based approach to the valuationof the assets in place and the growthopportunities of the firm", December 1988.
"Understanding the leader-strategy interface:application of the strategic relationshipinterview method", February 1989.
"Estimating dynamic response models whenthe data are subject to different temporalaggregation", January 1989.
89/13 Manfred KEGS DE VRIES
89/14
Reinhard ANGELMAR
89/15
Reinhard ANGELMAR
89/16
Wilfried VANHONACKER,Donald LEHMANN andFareena SULTAN
89/17
Gilles AMADO,Claude FAUCHEUX andAndre LAURENT
89/18
Srinivasan BALAK-RISHNAN andMitchell KOZA
89/19
Wilfried VANHONACKER,Donald LEHMANN andFareena SULTAN
89/20
Wilfried VANHONACKERand Russell WINER
89/21
Amoud de MEYER andKasra FERDOWS
89/22
Manfred KETS DE VRIESand Sydney PERZOW
89/23
Robert KORAJCZYK andClaude VIALLET
89/24
Martin KILDUFF andMitchel ABOLAFIA
"The impostor syndrome: a disquietingphenomenon in organizational life", February1989.
"Product innovation: a tool for competitiveadvantage", March 1989.
"Evaluating a firm's product innovationperformance", March 1989.
"Combining related and sparse data in linearregression models", February 1989.
"Changement organisationnel et r6alitesculturelles: contrastes franco-amOricairts",March 1989.
"Information asymmetry, market failure andjoint-ventures: theory and evidence",March 1989.
"Combining related and sparse data in linearregression models", Revised March 1989.
"A rational random behavior model ofchoke", Revised March 1989.
"Influence of manufacturing improvementprogrammes on performance", April 1989.
"What is the role of character inpsychoanalysis?" April 1989.
"Equity risk premia and the pricing offoreign exchange risk" April 1989.
"The social destruction of reality:Organisational conflict as social drama"zApril 1989.
89/25 Roger BETANCOURT and
David GAUTSCHI
89/26
Charles BEAN,
Edmond MALINVAUD,
Peter BERNHOLZ,
Francesco GIAVAllI
and Charles WYPLOSZ
89/27
David KRACKHARDT and
Martin KILDUFF
89/28
Martin KILDUFF
89/29 Robert GOGEL and
Jean-Claude LARRECHE
89/30 Lars-Hendrik ROLLER
and Mihkel M. TOMBAK
89/31 Michael C. BURDA and
Stefan GERLACH
89/32 Peter HAUG and
Tawfik JELASSI
89/33 Bernard SINCLAIR-
DESGAGNE
89/34
Sumantra GHOSHAL and
Nittin NOHRIA
89/35
Jean DERMINE and
Pierre HILLION
"Two essential characteristics of retail
markets and their economic consequences"
March 1989.
"Macroeconomic policies for 1992: the
transition and after". April 1989.
"Friendship patterns and cultural
attributions: the control of organizational
diversity", April 1989.
"The interpersonal structure of decision
making: a social comparison approach to
organizational choice", Revised April 1989.
"The battlefield for 1992: product strength
and geographic coverage", May 1989.
"Competition and Investment in Flexible
Technologies", May 1989.
"Intertemporal prices and the US trade
balance in durable goods". July 1989.
"Application and evaluation of a multi-
criteria decision support system for the
dynamic selection of U.S. manufacturing
locations", May 1989.
"Design flexibility in monopsonistic
industries", May 1989.
"Requisite variety versus shared values:
managing corporate-division relationships in
the M-Form organisation", May 1989.
"Deposit rate ceilings and the market value
of banks: The case of France 1971-1981",
May 1989.
89/36 Martin KILDUFF
89/37 Manfred KETS DE VRIES
89/38 Manfred KETS DE VRIES
89/39 Robert KORAJCZYK and
Claude VIALLET
89/40 Balaji CHAKRAVARTHY
89/41 B. SINCLAIR-DESGAGNE
and Nathalie DIERKENS
89/42 Robert ANSON and
Tawfik JELASSI
89/43 Michael BURDA
89/44 Balaji CHAKRAVARTHY
and Peter LORANGE
89/45 Rob WEITZ and
Arnoud DE MEYER
89/46 Marcel CORSTJENS,
Carmen MATUTES and
Damien NEVEN
89/47 Manfred KETS DE VRIES
and Christine MEAD
89/48
Damien NEVEN and
Lars-Hendrik ROLLER
"A dispositional approach to social networks:
the case of organizational choice", May 1989,
"The organisational fool: balancing a
leader's hubris", May 1989.
"The CEO blues", June 1989.
"An empirical investigation of international
asset pricing", (Revised June 1989).
"Management systems for innovation and
productivity", June 1989.
"The strategic supply of precisions", June
1989.
"A development framework for computer-
supported conflict resolution", July 1989.
"A note on firing costs and severance benefitsin equilibrium unemployment", June 1989.
"Strategic adaptation in multi-businessfirms", June 1989.
"Managing expert systems: a framework andcase study", June 1989.
"Entry Encouragement", July 1989.
"The global dimension in leadership and
organization: issues and controversies", April
1989.
"European integration and trade flows",August 1989.
89/49 Jean DERMINE "Home country control and mutualrecognition", July 1989. 89/62 Arnoud DE MEYER
(TM)89/50 Jean DERMINE "The specialization of financial institutions,
the EEC model", August 1989. 89/63 Enver YUCESAN and(TM) Lee SCHRUBEN
89/51 Spyros MAKRIDAKIS "Sliding simulation: a new approach to timeseries forecasting", July 1989. 89/64 Enver YUCESAN and
(TM) Lee SCHRUBEN
89/52 Arnoud DE MEYER "Shortening development cycle times: amanufacturer's perspective", August 1989. 89/65 Soumitra DUTTA and
89/53 Spyros MAKRIDAKIS "Why combining works?", July 1989.(TM,AC, FIN)
Piero BONISSONE
89/54 S. BALAKRISHNAN "Organisation costs and a theory of joint 89/66 B. SINCLAIR-DESGAGNEand Mitchell KOZA ventures", September 1989. (TM/EP)
89/55 H. SCHUTTE "Euro-Japanese cooperation in information 89/67 Peter BOSSAERTS andtechnology", September 1989. (FIN) Pierre HILLION
89/56 Wilfried VANHONACKERand Lydia PRICE
"On the practical usefulness of meta-analysisresults", September 1989.
199089/57 Taekwon KIM,
Lars-Hendrik ROLLERand Mihkel TOMBAK
"Market growth and the diffusion ofmultiproduct technologies", September 1989. 90/01
TM/EP/ACB. S1NCLAIR-DESGAGNE
89/58 Lars-Hendrik ROLLER "Strategic aspects of flexible production 90/02 Michael BURDA(EP,TM) and Mihkel TOMBAK technologies", October 1989. EP
89/59(011)
Manfred ICETS DE VRIES,Daphne ZEVADI,Alain NOEL and
"Locus of control and entrepreneurship: athree-country comparative study", October1989.
90/03TM
Arnoud DE MEYER
Mihkel TOMBAK
89/60 Enver YUCESAN and "Simulation graphs for design and analysis of 90/04 Gabriel HAWAWINI and(TM) Lee SCHRUBEN discrete event simulation models", October FIN/EP Eric RAJENDRA
1989.
89/61 Susan SCHNEIDER and "Interpreting and responding to strategic 90/05 Gabriel HAWAWINI and(All) Arnoud DE MEYER issues: The impact of national culture",
October 1989.FIN/EP Bertrand JACQUILLAT
"Technology strategy and international R&Doperations", October 1989.
"Equivalence of simulations: A graphapproach", November 1989.
"Complexity of simulation models: A graphtheoretic approach", November 1989.
"MARS: A mergers and acquisitionsreasoning system", November 1989.
"On the regulation of procurement bids",November 1989.
"Market microstructure effects ofgovernment intervention in the foreignexchange market", December 1989.
"Unavoidable Mechanisms", January 1990.
"Monopolistic Competition, Costs ofAdjustment, and the Behaviour of EuropeanManufacturing Employment", January 1990.
"Management of Communication inInternational Research and Development",January 1990.
"The Transformation of the EuropeanFinancial Services Industry: FromFragmentation to Integration", January 1990.
"European Equity Markets: Toward 1992and Beyond", January 1990.
90/06 Gabriel HAWAWINI and "Integration of European Equity Markets:FIN/EP Eric RAJENDRA Implications of Structural Change for Key
Market Participants to and Beyond 1992",January 1990.
90/17FIN
Nathalie DIERKENS "Information Asymmetry and Equity Issues",Revised January 1990.
90/18 Wilfried VANHONACKER "Managerial Decision Rules and the90/07 Gabriel HAWAWINI "Stock Market Anomalies and the Pricing of MKT Estimation of Dynamic Sales ResponseFIN/EP Equity on the Tokyo Stock Exchange",
January 1990.Models", Revised January 1990.
90/19 Beth JONES and "The Effect of Computer Intervention and90/08TM/EP
Tawfik JELASSI andB. S1NCLAIR-DESGAGNE
"Modelling with MCDSS: What aboutEthics?", January 1990.
TM Tawfik JELASSI Task Structure on Bargaining Outcome",February 1990.
90/09 Alberto GIOVANNINI "Capital Controls and International Trade 90/20 Tawfik JELASSI, "An Introduction to Group Decision andEP/FIN and Jae WON PARK Finance", January 1990. TM Gregory KERSTEN and Negotiation Support", February 1990.
Stanley ZIONTS90/10 Joyce BRYER and "The Impact of Language Theories on DSSTM Tawfik JELASSI Dialog", January 1990. 90/21 Roy SMITH and "Reconfiguration of the Global Securities
FIN Ingo WALTER Industry in the 1990's", February 1990.90/11 Enver YUCESAN "An Overview of Frequency DomainTM Methodology for Simulation Sensitivity 90/22 Ingo WALTER "European Financial Integration and Its
Analysis", January 1990. FIN Implications for the United States", February1990.
90/12 Michael BURDA "Structural Change, Unemployment BenefitsEP and High Unemployment: A U.S.-European 90/23 Damien NEVEN "EEC Integration towards 1992: Some
Comparison", January 1990. EP/SM Distributional Aspects", Revised December1989
90/13 Soumitra DUTTA and "Approximate Reasoning about TemporalTM Shashi SHEKHAR Constraints in Real Time Planning and 90/24 Lars Tyge NIELSEN "Positive Prices in CAPM", January 1990.
Search", January 1990. FIN/EP
90/ 1 4TM
Albert ANGEHRN andHans-Jakob LOTH'
"Visual Interactive Modelling and IntelligentDSS: Putting Theory Into Practice", January
90/25FIN/EP
Lam Tyge NIELSEN "Existence of Equilibrium in CAPM",January 1990.
1990.
90/26 Charles KADUSHIN and "Why networking Fails: Double Binds and90/15TM
Arnoud DE MEYER,Dirk DESCHOOLMEESTER,Rudy MOENAERT and
"The Internal Technological Renewal of aBusiness Unit with a Mature Technology",January 1990.
OB/BP Michael BR1MM the Limitations of Shadow Networks",February 1990.
Jan BARBE 90/27 Abbas FOROUGHI and "NSS Solutions to Major NegotiationTM Tawfik JELASSI Stumbling Blocks", February 1990.
90/16 Richard LEVICH and "Tax-Driven Regulatory Drag: EuropeanFIN Ingo WALTER Financial Centers in the 1990's", January 90/28 Amoud DE MEYER "The Manufacturing Contribution to
1990. TM Innovation", February 1990.
90/40 Manfred KETS DE VRIES "Leaders on the Couch: The case of Roberto90/29 Nathalie DIERKENS "A Discussion of Correct Measures of OR Calvi", April 1990.FIN/AC Information Asymmetry", January 1990.
90/30 Lars Tyge NIELSEN "The Expected Utility of Portfolios of90/41FIN/EP
Gabriel HAWAWINI,MIA SWARY and
"Capital Market Reaction to theAnnouncement of Interstate Banking
FIN/EP Assets", March 1990. 1k HWAN JANG Legislation", March 1990.
90/31 David GAUTSCHI and "What Determines U.S. Retail Margins?". 90/42 Joel STECKEL and "Cross-Validating Regression Models inMKT/EP Roger BETANCOURT February 1990. MKT Wilfried VANHONACKER Marketing Research", (Revised April 1990).
90/32 Srinivasan BALAK- "Information Asymmetry, Adverse Selection 90/43 Robert KORAJCZYK and "FAmity Risk Premia and the Pricing ofSM RISHNAN and
Mitchell KOZAand Joint-Ventures: Theory and Evidence",Revised, January 1990.
FIN Claude VIALLET Foreign Exchange Risk", May 1990.
90/33 Caren SIEHL, "The Role of Rites of Integration in Service 90/44 Gilles AMADO, "Organisational Change and CulturalOB David BOWEN and Delivery", March 1990. OB Claude FAUCHEUX and Realities: Franco-American Contrasts". April
Christine PEARSON Andre LAURENT 1990.
90/45 Soumitra DUTTA and "Integrating Case Based and Rule Based90/34FIN/EP
Jean DERMINE "The Gains from European BankingIntegration, a Call for a Pro-Active
TM Piero BONISSONE Reasoning: The Possibilistic Connection",May 1990.
Competition Policy", April 1990.90/46 Spyros MAKRIDAKIS "Exponential Smoothing: The Effect of
90/35 Jae Won PARK "Changing Uncertainty and the Time. TM and Michele H1BON Initial Values and Loss Functions on Post-EP Varying Risk Pretnia in the Term Structure
of Nominal Interest Rates", December 1988,Revised March 1990. 90/47 Lydia PRICE and
Sample Forecasting Accuracy".
"Improper Sampling in NaturalMKT Wilfried VANHONACKER Experiments: Limitations on the Use of
90/36 Arnoud DE MEYER "An Empirical Investigation of Meta-Analysis Results in BayesianTM Manufacturing Strategies in European
industry", April 1990.Updating", Revised May 1990.
90/48 Jae WON PARK "The Information in the Term Structure of90/37TM/08/SM
William CATS-BARIL "Executive Information Systems: Developingan Approach to Open the Possibles", April
EP Interest Rates: Out-of-Sample ForecastingPerformance", June 1990.
1990.90/49 Soumitra DUTTA "Approximate Reasoning by Analogy to
90/38 Wilfried VANHONACKER "Managerial Decision Behaviour and the TM Answer Null Queries", June 1990.MKT Estimation of Dynamic Sales Response
Models", (Revised February 1990). 90/50 Daniel COHEN and "Price and Trade Effects of Exchange RatesEP Charles WYPLOSZ Fluctuations and the Design of Policy
90/39TM
Louis LE BLANC andTawfik JELASSI
"An Evaluation and Selection Methodologyfor Expert System Shells", May 1990.
Coordination". April 1990.
90/51 Michael BURDA and "Gross Labour Market Flows in Europe: 90/63 Sumantra GHOSHAL and "Organising Competitor Analysis Systems",EP Charles WYPLOSZ Some Stylized Facts", June 1990. SM Eleanor WESTNEY August 1990
90/52 Lars Tyge NIELSEN "The Utility of Infinite Menus", June 1990. 90/64 Sumantra GHOSHAL "Internal Differentiation and CorporateFIN SM Performance: Case of the Multinational
Corporation", August 199090/53 Michael Burda "The Consequences of German EconomicEP and Monetary Union", June 1990. 90/65 Charles WYPLOSZ "A Note on the Real Exchange Rate Effect of
EP German Unification", August 199090/54 Damien NEVEN and "European Financial Regulation: AEP Colin MEYER Framework for Policy Analysis", (Revised 90/66 Soumitra DUTTA and "Computer Support for Strategic and Tactical
May 1990). TM/SE/FIN Piero BONISSONE Planning in Mergers and Acquisitions",
September 199090/55 Michael BURDA and "Intertemporal Prices and the US TradeEP
90/56
Stefan GERLACH
Damien NEVEN and
Balance", (Revised July 1990).
"The Structure and Determinants of East-West
90/67TM/SE/FIN
Soumitra DUTTA andPiero BONISSONE
"Integrating Prior Cases and Expert Knowledge In
a Mergers and Acquisitions Reasoning System",
September 1990EP Lars-Hendrik ROLLER Trade: A Preliminary Analysis of the
Manufacturing Sector", July 1990 90/68 Soumitra DUTTA "A Framework and Methodology for Enhancing theTM/SE Business Impact of Artificial Intelligence
90/57 Lars Tyge NIELSEN Common Knowledge of a Multivariate Aggregate Applications", September 1990FIN/EP/ Statistic", July 1990TM 90/69 Soumitra DUTTA "A Model for Temporal Reasoning in Medical
TM Expert Systems", September 199090/58 Lars Tyge NIELSEN "Common Knowledge of Price and Expected CostFIN/EP/TM in an Ofigopolistic Market", August 1990 90/70
TMAlbert ANGEHRN "'Triple C': A Visual Interactive MCDSS",
September 199090/59 Jean DERMINE and "Economies of Scale andFIN Lars-Hendrik ROLLER Scope in the French Mutual Funds (SICAV) 90/71 Philip PARKER and "Competitive Effects in Diffusion Models: An
Industry", August 1990 MKT Hubert GATIGNON Empirical Analysis", September 1990
90/60 Pen 1Z and "An Interactive Group Decision Aid for 90/72 Enver YOCESAN "Analysis of Maricov Chains Using SimulationTM Tawfik JELASSI Mulfiobjective Problems: An Empirical TM Graph Models", October 1990
Assessment", September 1990
90/61 Pankaj CHANDRA and "Models for the Evlauation of Manufacturing
90/73
TMArnoud DE MEYER andKassa FERDOWS
"Removing the Barriers in Manufacturing",
October 1990TM Mihkel TOMBAK Flexibility", August 1990
90/62 Damien NEVEN and "Public Policy Towards TV Broadcasting in the 90/74 Sumantra GHOSHAL and "Requisite Complexity: Organising Headquarters-EP Menno VAN DIM Netherlands", August 1990 SM Nitin NOHRIA Subsidiary Relations in MNCs", October 1990
90/75MKT
Roger BETANCOURT andDavid GAUTSCHI
'The Outputs of Retail Activities: Concepts,Measurement and Evidence", October 1990
90/87
FIN/EP
Lars Tyge NIELSEN "Existence of Equilibrium in CAPM: FurtherResults•, December 1990
90/76 Wilfried VANHONACKER •Mamagetial Decisium Behaviour and the Estimation 90/118 Susan C. SCHNEIDER and "Cognition i Orgathsalithal Analysis: Who'sMKT of Dynamic Sales Response Models•,
Revised October 1990
011/MKT Reinhard ANGELMAR Miadig the sewer Revised, December 1990
90/89 Manfred F.R. KETS DE VRIES 'The CEO Who Coulda't Talk Straight and Other90/77 Warned VANHONACKER Toting the &rya Scheme of Sales Response to OB Tales hem the Board Room," December 1990MKT Advertising: An Aggregation-Independent
Athocorrelation Test•, October 1990 90/90 Philip PARKER "nice Ethiticity Dynamics over the AdoptionMKT Lifitcyck: An Emptied Study,' December 1990
90/78 Michael BURDA and "Exchange Rate Dynamics and CurrencyEP Stefan GERLACH Unilicatioa: The Osnmark - DM Rate",
October 1990
90/79 Anil GABA "Inferences with an Unknown Noise Level in •TM &mouth Process", October 1990
90/80 Anil GABA and "Using Survey Data in Inferences about Purchase
TM Robert WINKLER Behaviour•. October 1990 1991
9011 Tawfik JELASSI "Du Muth OE Futon Blian et Orientations desTM Systems Itheractifs d'Aide h la Decision,'
October 199091/01TM/gt4
Luk VAN WASSENHOVE,Leonard FORTUIN and
"Operational Research Can Do More for ManagersThan They MAL'
Paul VAN BEEK January 199190/82 Charles WYPLOSZ "Monetary Vogue and Fiscal Policy Discipline,•EP November 1990 91/02
Thl/Skl
Luk VAN WASSENHOVE,Leonard FORTUIN and
"Operational Research and Eaviromment,"January 1991
90/83 Nahalie DIERKENS and "Informatith Asymmetry and Corporate Paul VAN BEEKFIN/TM Bernard SINCLAIR-DESGAGNE Communkaliort: Results of • Pilot Study",
November 1990 91/03 Pekka HIETALA and "An Implicit Dividend Increase ist Rights Issues:
FIN Timm LOYITYNIEMI Theory and Evidence," January 199190/84 Philip M. PARKER `lie Effect of Advertising on Price and Quality:MKT The Optometric Industry Revisited," 91/04 Ian Tyge NIELSEN "Two-Fhod Separation, Factor Structure mad
December 1990 FIN Robustness," lathery 1991
9045 Avijit GHOSH and "Optimal Timing and Location in Competitive 91/05 Susan SCHNEIDER "Managing Inundation is Organisations,'MKT Vitas T1BREWALA Markets," November 1990 OB January 1991
90/86 Olivier CADOT and 'Prudence and Success in Politics," November 1990 91/06 Manfred KEYS DE VRIES, "Understanding the Leader-Strategy Itherface:UMW Bernard SINCLAIR-DESGAGNE 011 Danny MILLER and Application of the Strategic Relationship lateniew
Alain NOEL Method," January 1990 (139/11, revised April 1990)
91/07 Olivier CADOT "Lending to Insolvent Countries: A ParadoxicalEP Story," January 1991 91/19
MKTVikas TIBREWALA andBruce BUCHANAN
"An Aggregate Test of Purchase Regularity",March 1991
91/08 Charles WYPLOSZ "Post-Reform East and West: CapitalEl' Accumulation and the Labour Mobility 91/20 Darius SABAVALA and "Monitoring Short-Run Changes in Purchasing
Constraint," January 1991 MKT Vikas TIBREWALA Behaviour", March 1991
91/09TM
Spyros MAKRIDAICIS "What can we Learn from Failure?", February 1991 91/21SM
Sumantra GHOSHAL,Harry KORINE and
"Intermit Communication within MNCs: TheInfluence of Formal Structure Versus Integrative
Gabriel SZULANSKI Processes", April 199191/10 Luc Van WASSENHOVE and "Integrating Scheduling with Battling andTM C. N. POTTS Lot-Sizing: A Review of Algorithms and
Complexity", February 199191/22EP
David GOOD,Lars-Hendrik ROLLER and
"EC Integration and the Structure of the Franco-American Airline Industries: Implications for
Robin SICKLES Efficiency and Welfare", April 199191/11 Luc VAN WASSENHOVE et al. "Multi-Item Lotsizing in Capacitated Multi-StageTM Serial Systems", February 1991 91/23 Spyros MAKRIDAKIS and "Exponential Smoothing: The Effect of Initial
TM Mich2le HIBON Values and Loss Functions on Post-Sample91/12TM
Albert ANGEHRN "Interpretative Computer Intelligence: A Linkbetween Users, Models and Methods in DSS",February 1991
Forecasting Accuracy", April 1991 (Revision of90146)
91/24 Louis LE BLANC and "An Empirical Assessment el Choke Models for91/13EP
Michael BURDA "Labor and Product Markets in Czechoslovakia andthe Ex-GDR: A Twin Study", February 1991
TM Tawfik JELASSI Software Evaluation and Selection", May 1991
91/25 Luk N. VAN WASSENHOVE and "Trade-Offs? What Trade-Offs?" April 199191/14 Roger BETANCOURT and "The Output of Retail Activities: French SM/TM Charles 1. CORBETTMKT David GAUTSCHI Evidence", February 1991
91/26 Luk N. VAN WASSENHOVE and "Single Machine Scheduling to Minimize Total Late91/15OB
Manfred F.R. KETS DE VRIES "Exploding the Myth about Rational Organisationsand Executives", March 1991
TM C.N. POTTS Work", April 1991
91/27 Nathalie DIERKENS "A Discussion of Correct Measures of Information91/16 Arnoud DE MEYER and "Factories of the Future: Executive Summary of FIN Asymmetry: The Example of Myers and Majluf'sTM Kasra FERDOWS et.al. the 1990 International Manufacturing Futures
Survey", March 1991Model or the Importance of the Asset Structure ofthe Firm", May 1991
91/17TM
Dirk CATTRYSSE,Roelof KUIK,Marc SALOMON and
"Heuristics for the Discrete Lotsizing andScheduling Problem with Setup Times", March 1991
91/28MKT
Philip M. PARKER "A Note on: 'Advertising and the Price and Qualityof Optometric Services', June 1991
Luk VAN WASSENHOVE 91/29 Tawfik JELASSI and "An Empirical Study of an Interactive, Session-TM Abbas FOROUGHI Oriented Computerised Negotiation Support System
91/18 C.N. POTTS and "Approximation Algorithms for Scheduling a Single (NSS)", June 1991TM Luk VAN WASSENHOVE Machine to Minimize Total Late Work",
March 1991
91/30 Wilfried R. VANHONACKER and "Using Meta-Analysis Results in Bayesian Updating:MKT Lydia 11. PRICE The Empty Cell Problem", June 1991 91/43 Sumantra GHOSHAL and "Building Transnational Capabilities: The
SM Christopher BARTLETT Management Challenge", September 199191/31 Rezaul KABIR and "Insider Trading Restrictions and the StockFIN Theo VERMAELEN Market", June 1991 91/44 Sumantra GHOSHAL and "Distributed Innovation in the 'Differentiated
SM Nitin NOHRIA Network' Multinational", September 199191/32 Susan C. SCHNEIDER "Organisational Sensemaking: 1992", June 1991OB 91/45 Philip M. PARKER "The Effect of Advertising on Price and Quality:
MKT An Empirical Study of Eye Examinations, Sweet91/33 Michael C. BURDA and "German Trade Unions after Unification - Third Lemons and Self-Deceivers", September 1991EP Michael EUNICE Degree Wage Discriminating Monopolists?",
June 1991 91/46 Philip M. PARKER "Pricing Strategies in Markets with DynamicMKT Elasticities", October 1991
91/34 Jean DERMINE "The BIS Proposal for the Measurement of InterestFIN Rate Risk, Souse Pitfalls", June 1991 91/47 Philip M. PARKER "A Study of Price Elasticity Dynamics Using
MKT Parsimonious Replacement/Multiple Purchase91/35FIN
Jean DERMINE "The Regulation of Financial Services in the EC,Centralization or National Autonomy?" June 1991
Diffusion Models", October 1991
91/48 H. Landis GABEL and "Managerial Incentives and Environmental91/36 Albert ANGEHRN "Supporting Multicriteria Decision Making: New EP/TM Bernard SINCLAIR-DESGAGNE Compliance", October 1991TM Perspectives and New Systems", August 1991
91/49 Bernard SINCLAIR-DESGAGNE "The FIrst-Order Approach to Multi-Task91/37 Ingo WALTER and "The Introduction of Universal Banking in Canada: TM Principal-Agent Problems", October 1991EP Hugh THOMAS An Event Study", August 1991
91/50 Luk VAN WASSENHOVE and *How Green is Your Manolicturing Strategy?"91/38 Ingo WALTER and "National and Global Competitiveness of New York SM/TM Charles CORBETT October 1991EP Anthony SAUNDERS City Es • Financial Center", August 1991
91/51 Philip M. PARKER "Choosing Among Diffasion Mods*: Some91/39EP
Ingo WALTER andAnthony SAUNDERS
"Reconfiguration of Banking and Capital Marketsin Eastern Europe", August 1991
MKT Empirical Gnidefines", October 1991
91/52 Michael BURDA and "Hiram Capital, Immanuel* and Migration in an91/40TM
Luk VAN WASSENHOVE,Dirk CATTRYSSE and
"A Set Partitioning Heuristic for the GeneralizedAssignment Problem", August 1991
EP Charles WYPLOSZ Integrated Europe", October 1991
Marc SALOMON 91/53 Michael BURDA and "Labour Mobility and German Integration: SomeEP Charles WYPLOSZ Vignettes", October 1991
91/41TM
Luk VAN WASSENHOVE,M.Y. KOvALYOU and
"A Fully Polynomial Approximation Scheme forScheduling a Single Machine to Minimize Total 91/54 Albert ANGEHRN "Stimulus Agents: An Alternative Framework for
C.N. POTTS Weighted Late Work", August 1991 TM Computer-Aided Decision Making", October 1991
91/42 Rob R. WEITZ and "Solving A Multi-Criteria Allocation Problem:TM Tawfik JELASSI A Decision Support System Approach",
Augu st 1991
91/55EP/SM
Robin HOGARTH,Claude MICHAUD,Yves DOZ and
"Longevity of Business Finns: A Four-StageFramework for Analysis", November 1991
92/03OB
Manfred F.R. KETS DE VRIES "The Family Finn: An Owner's Manual",January 1992
Ludo VAN DER HEYDEN 92/04 Philippe HASPESLAGH and "Making Acquisitions Work", January 1992SM David JEMISON
91/56TM/EP
Bernard SINCLAIR-DESGAGNE "Aspirations and Economic Development",November 1991 92/05 Xavier DE GROOTE "Flexibility and Product Diversity in Lot-Sizing
TM Models", January 1992 (revised)
91/57 Lydia J. PRICE "The Indirect Effects of Negative Information onMKT Attitude Change", November 1991 92/06 Theo VERMAELEN and "Financial Innovation: Self Tender Offers in the
FIN Kees COOLS U.K.", January 199291/58 Manfred F. R. KETS DE VRIES "Leaders Who Co Crazy", November 1991
OB 92/07 Xavier DE GROOTE "The flexibility of Production Processes: ATM General Framework", January 1992 (revised)
91/59011
91/60
Paul A. L. EVANS
Xavier DE GROOTE
"Management Development as Glue Technology",November 1991
"Flexibility and Marketing/Manufacturing
92/08TM
Luk VAN WASSENHOVE,Leo KROON andMarc SALOMON
"Exact and Approximation Algorithms for theOperational Fixed Interval Scheduling Problem",January 1992
TM Coordination", November 1991 (revised)
91/61 Arnoud DE MEYER "Product Development in the Textile Machinery92/09TM
Luk VAN WASSENHOVE,Roelof KUIK and
"Statistical Search Methods for LotsizingProblems", January 1992
TM Industry", November 1991 Marc SALOMON
91/62 Philip PARKER and "Specifying Competitive Effects in Diffusion 92/10 Yves DOZ and "Regaining Competitiveness: A Process ofMKT Hubert GATIGNON Models: An Empirical Analysis", November 1991 SM Heinz THANHEISER Organisational Renewal", January 1992
91/63 Michael BURDA "Some New Insights on the Interindustry Wage 92/11 Enver YUCESAN and "On the Intractability of Verifying StructuralEP Structure from the German Socioeconomic Panel",
December 1991
TM Sheldon JACOBSON Properties of Discrete Event Simulation Models",February 1992
91/64FIN
Jean DERMINE "Internationalisation of Financial Markets,Efficiency and Stability", December 1991
92/12FIN
Gabriel HAWAWINI "Valuation of Cross-Border Mergers andAcquisitions", February 1992
1992 92/13 Spyros MAKRIDAKIS and "The M2-Competition: A Budget RelatedTM Michele HIBON et.al. Empirical Forecasting Study", February 1992
92/01 Wilfried VANHONACKER "CONPRO*DOGIT: A New Brand Choice ModelMKT/EP/TM Incorporating • Consideration Set Formation 92/14 Lydia PRICE "Identifying Cluster Overlap with NORMIX
Process", January 1992 MKT Population Membership Probabilities",February 1992
92/02 Wilfried VANHONACKER "The Dynamics of the Consideration Set FormationMKT/EP/TM Process: A Rational Modelling Perspective and
Some Numerical Results", January 1992
92/15 Vikas T1BREWALA,MKT Peter LENK and
Amber RAO
92/16 Xavier DE GROOTE andTM Yu-Sheng ZHENG
92/17 Xavier DE GROOTE andTM Evan L. PORTEUS
92/18 Xavier DE GROOTETM
92/19 Jean DERMINEFIN
92/20 Tau/Ilk JELASSI andTM Michele SANGLIER
92/21 Paul J. VERDIN andSM Peter J. WILLIAMSON
"Nonstationary Conditional Trend Analysis: AnApplication to Scanner Panel Data", February 1992
"A Sensitivity Analysis of Stochastic InventorySystems", March 1992
"An Approach to Single Parameter ProcessDesign", March 1992
"Information Disclosure and Technology Choice",March 1992
"Deposit Insurance, Credit Risk and CapitalAdequacy: A Note", March 1992
"Information, Systemes Complexes et Technologiesde l'Information", March 1992
"From Barriers to Entry to Barriers to Survival",March 1992