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Öğe Relations Between the Great War and Wheat Prices: An Analysis from the Ottoman Empire Perspective(Emerald Group Publishing Ltd., 2021) Tufan, Ekrem; Savaş, Türker; Atabay, MithatIntroduction: It is commonly observed that the ratio of food prices during the war times had become significantly more important than usual periods within the countries including Turkey, known as the Ottoman Empire that previously defeated in Balkans just before the Great World War. The scope of the study is to analyze increased or decreased wheat prices together with price fluctuations during the war period. Aim: This study investigates the food pricing progress during The Great World War and its relationship with wheat prices. Method: A model for the behavior of time series is applied to compare the important days of the war data against the timeline of wheat prices for British, German, and French. The statistical test named Holt-Winters uses exponential smoothing technique to encode the various values from the past and predicts “typical” values for the present and the future. Findings: As a result, it can be said that wheat prices had anomaly patterns during the specific dates in war for French, British, and German sides. Great Britain’s wheat prices increased significantly on April 1915 when landings began on the Gallipoli Peninsula. Wheat prices in Great Britain and Germany dropped significantly just before on July 1916 when the first Battle of the Somme began. However, it increased in Great Britain whilst decreased considerably in Germany in March 1918 when the Soviet Government signed a separate peace agreement with the Central Powers. A significant increase for France was observed only at the end of this war.Öğe Mental accounting and sunk cost biases: A social experiment with a food and beverage experience(Emerald Publishing, 2024) Tufan, Ekrem; Aycan, Merve; Hamarat, BahattinIntroduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances. Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey. Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied. Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’. Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.
