- Professor
- Associate Professor
- Arel, Barbara Ph.D.
- Bonifield, Carolyn M Ph.D.
- Cats-Baril, William L. Ph.D.
- Dempsey, Stephen J. Ph.D.
- Hughes, Susan B. Ph.D.
- Jones, David A. Ph.D.
- Lucas, Marilyn T. Ph.D.
- Novak, David Ph.D.
- Parke, E. Lauck Ph.D.
- Tomas III, Michael J. Ph.D.
- Vanden Bergh, Richard G. Ph.D.
- Zhang, Chun Ph.D.
- Assistant Professor
- Lecturer/Sr Lecturer
- Lecturer (Part Time)
- Faculty Emeritus
- Averyt, William F. Ph.D.
- Battelle, Peter E. M.B.A.
- Brandenburg, Richard G. Ph.D.
- Gatti, James F. Ph.D.
- Gurdon, Michael A. Ph.D.
- Jesse, Richard R. Ph.D.
- Kraushaar, James M. Ph.D.
- Laber, Gene Ph.D.
- Savitt, Ronald Ph.D.
- Severance, Malcolm Ph.D.
- Shirland, Larry E. Ph.D.
- Tashman, Len J. Ph.D.
Thomas G. Noordewier, Ph.D. Professor
Contact Information
Office: 204 Kalkin
Phone: 656-0496
E-Mail: Tom.Noordewier@uvm.edu
Office Hours: M 1:30 - 2:30pm or by appointment
Dr. Noordewier joined the UVM faculty in the Fall of 1990 after a year as an assistant professor at Yale. Prior to Yale he taught at Ohio State University and the University of Wisconsin-Madison. At UVM, he teaches courses in Marketing Management and Business-to-Business Marketing. His research interests include Distribution Channels, Procurement and Franchising. He has published articles in the Journal of Purchasing and Materials Management, the Journal of Health Care Marketing, the Journal of Marketing, the Journal of Business and Economic Statistics, the Journal of Business Logistics, and the Journal of the Academy of Marketing Science.
Suggested areas of comment:
Marketing research; developing and maintaining industrial buyer-seller relationships.
Affiliations:
American Marketing Association.
Publication History
Journal Article, Academic Journal
- Harrison, D. M.; Noordewier, T. G. - "Empirical Evidence on Mortgage Choice as a Screening Mechanism for Default Risk" (Refereed)
- Journal of Housing Research
- 2011 - v. 20, no. 1, pp. 18
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Abstract: Despite the enormously important role played by credit in modern market-based economies, the marketing literature offers little theoretical or empirical insight into how consumers choose among available credit products. This paper examines one of the most critical credit decisions made by consumers: selecting between a fixed-rate mortgage (FRM) and an adjustable-rate mortgage (ARM). To understand this selection process, the authors test a theoretical model in which a borrower's mortgage choice (i.e., ARM vs. FRM) is contingent upon transaction default costs, where the latter are defined as costs associated with the borrower's defaulting on a mortgage (e.g., damage to the borrower's credit rating, search and legal costs stemming from having to purchase a new home, etc.). The model predicts that when a borrower's transaction costs of default are sufficiently small (high), high default risk borrowers will select fixed (adjustable) rate mortgages, and low default risk borrowers will select adjustable (fixed) rate mortgages. The authors empirically test this transaction cost-contingent hypothesis using a sample of 1,003 mortgage loans, finding evidence consistent with the proposed interaction. In contrast to traditional transaction cost studies, which focus on whether (or how well) alternative buyer-seller "governance" modes match the underlying attributes of the transactions, this research demonstrates that transaction cost reasoning is applicable to consumer product choice as well.
- Kubiszewski, I.; Noordewier, T. G.; Costanza, R. - "Perceived Credibility of Internet Encyclopedias" (Refereed)
- Computers & Education
- 2011 - v. 56, no. 3, pp. 659-667
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Abstract: A vast amount of information is now available online, produced by a variety of sources with a range of editorial oversight procedures. These range from very centralized information with multiple layers of review, to no oversight at all. Determining which information is credible can pose a real challenge. An experiment was designed to determine whether certain webpage characteristics affect academics??? and students??? perception of the credibility of information presented in an online article. The experiment looked at five peripheral cues: (1) presence or absence of an identifiable author, (2) presence or absence of references, (3) presence or absence of a biased sponsor, (4) presence or absence of an award, and (5) whether the article is designated as appearing in Encyclopedia Britannica, Wikipedia, or Encyclopedia of Earth. The results indicate that compared to Encyclopedia Britannica, article information appearing in both Encyclopedia of Earth and Wikipedia is perceived as significantly less credible. They also show that the presence of a biased sponsor has a significant negative effect on perceived credibility.
- Hermans, C.; Erickson, J.; Noordewier, T. G.; Sheldon, A.; Kline, M. - "Collaborative environmental planning in river management: An application of multi criteria decision analysis in the White River Watershed in Vermont" (Refereed)
- Journal of Environmental Management
- 2007 - v. 84, no. 4, pp. 534-546
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Abstract: Multicriteria decision analysis (MCDA) provides a well-established family of decision tools to aid stakeholder groups in arriving at collective decisions. MCDA can also function as a framework for the social learning process, serving as an educational aid in decision problems characterized by a high level of public participation. In this paper, the framework and results of a structured decision process using the outranking MCDA methodology preference ranking organization method of enrichment evaluation (PROMETHEE) are presented. PROMETHEE is used to frame multi-stakeholder discussions of river management alternatives for the Upper White River of Central Vermont, in the northeastern United States. Stakeholders met over 10 months to create a shared vision of an ideal river and its services to communities, develop a list of criteria by which to evaluate river management alternatives, and elicit preferences to rank and compare individual and group preferences. The MCDA procedure helped to frame a group process that made stakeholder preferences explicit and substantive discussions about long-term river management possible.
- Harrison, D. M.; Noordewier, T. G.; Yavas, A. - "Do Riskier Borrowers Borrow More?" (Refereed)
- Real Estate Economics
- 2004 - v. 32, no. 3, pp. 385-411
[Show/Hide Abstract]
Abstract: Conventional wisdom in the mortgage industry holds that loan-to-value (LTV) ratios are positively correlated with mortgage default rates. However, not all empirical studies of mortgage loan performance support this view. This paper offers a theoretical signaling model of why the correlation between LTV ratios and default risk is contingent upon the default costs of the borrower. Specifically, the model proposes that when default costs are high there exists a separating equilibrium in which risky borrowers will self-select into lower LTV loans to reduct the probability of facing a costly default, while safe borrowers will self-select into higher LTV loans as a signal of their enhanced creditworthiness. This adverse selection process gives rise to the possibility of higher default probabilites for lower LTV loans. Conversely, when default costs are low the conventional result, in which risky borrowers select higher LTV loans than safe borrowers, is obtained. Empirical results, based on a sample of 859 single-family residentail mortgage loans drawn from the portfolio of a national mortgage lender, are consistent with the separating equilibria predicted by the model.
- Noordewier, T. G.; Harrison, D. M.; Ramagopal, K. - "Semi-Variance of Property Value Estimates as a Determinant of Default Risk" (Refereed)
- Real Estate Economics
- 2001 - v. 29, no. 1, pp. 127-159
[View publication]
[Show/Hide Abstract]
Abstract: Standard practice in the residential mortgage underwriting industry is to estimate collateral values via independent appraisals conducted by third parties. This paper empirically examines the role of property value (i.e., appraisal) uncertainty as a determinant of default on residential mortgage loans. Based upon an analysis of 1,428 residential loans drawn from the portfolio of a national mortgage lender, we find evidence that semivariance in property value uncertainty is related to default risk. Specifically, subject properties that are valued above the sales price of recently sold "similar and proximate" properties show evidence of greater default risk. Interestingly, a variance (range) measure of property value uncertainty is not significantly related to default risk.
- Sinkula, J. M.; Baker, W.; Noordewier, T. G. - "A Framework for Market-Based Organizational Learning: Linking Values, Knowledge and Behavior" (Refereed)
- Journal of the Academy of Marketing Science
- 1997 - v. 25, no. 4, pp. 305-318
[View publication]
[Show/Hide Abstract]
Abstract: The authors review the concept of organizational learning and present a broad conceptual framework for its modeling. Within this framework, one specific process for market-based organizational learning is postulated. An empirical test of this model leads the authors to conclude that a more positive learning orientation (a value-based construct) will directly result in increased market information generation and dissemination (knowledge-based constructs), which, in turn, directly affects the degree to which an organization makes changes in its marketing strategies (a behavioral construct). Managerial implications are discussed.
- Gardner, J. T.; Cooper, M. C.; Noordewier, T. G. - "Understanding Shipper-Carrier and Shipper-Warehouser Relationships: Partnerships Revisited" (Refereed)
- Journal of Business Logistics
- 1994 - v. 15, no. 2 - Fall, pp. 121-143
- Thompson, P.; Noordewier, T. G. - "Estimating the Effects of Consumer Incentive Programs on Domestic Automobile Sales" (Refereed)
- Journal of Business and Economic Statistics
- 1992 - v. 10, no. 4, pp. 409-17
- Noordewier, T. G.; John, G.; Nevin, J. - "Performance Outcomes of Purchasing Arrangements in Industrial Buyer-Vendor Relationships" (Refereed)
- Journal of Marketing
- 1990 - v. 54, pp. 80-93
- Noordewier, T. G. - "A Comparison of Blanket and Systems Contracts" (Refereed)
- Journal of Purchasing and Materials Management
- 1989 - v. 25, pp. 35-40
- Noordewier, T. G.; Rogers, D.; Balakrishnan, S. - "An Empirical Investigation of Consumer Preference for Private Long-Term Care Insurance"
- Journal of Health Care Marketing
- 1989 - v. 9, pp. 34-40
Conference Proceeding
- Lucas, M. T.; Noordewier, T. G. - "Environmental Management Practices in Services: When Does it Pay to be Green?" (Refereed)
- International Research Symposium in Service Management/University of Mauritius
- 2010
- Harrison, D. M.; Noordewier, T. G.; Ramagopal, K. - "Mortgage Terminations: The Role of Conditional Volatility" (Refereed)
- American Real Estate Society (ARES) annual meetings
- 2002 - v. 23, no. 1/2, pp. 89-110
[Show/Hide Abstract]
Abstract: This article is the winner of the Real Estate Finance manuscript prize (sponsored by Fannie Mae Foundation) presented at the 2001 American Real Estate Society Annual Meeting.
Studies of mortgage termination decisions typically rely on a competing risks framework comparing defaults and prepayments. While useful tools have been developed to approximate the values of these competing default and prepayment options, the available metrics do not adequately account for the role of the conditional volatility of interest rates and housing prices in option valuation. Using a sample of 1,428 mortgage loan payment histories, this study finds that exponential GARCH estimates of the conditional volatility of housing prices and interest rates influence mortgage termination decisions in a predictable manner. Specifically, increased housing price
volatility is shown to enhance default option values, while increased interest rate volatility is shown to enhance prepayment option values. Therefore, it would appear that conditional volatility represents a more refined input into the competing risks option framework.
- Noordewier, T. G.; Sinkula, J. M. - "Export Strategies and Export Performance: An Empirical Investigation of a Products/Markets Typology" (Refereed)
- Proceedings of the Third Symposium of the Consortium for International Marketing Research (CIMaR)
- 1995 - pp. 1-47
- Noordewier, T. G. - "Franchise Contracts: The Economics of Asymmetric Terms" (Refereed)
- Proceedings of the Fifth Conference of the Society of Franchising
- 1991 - no. Feb. 9-10,
Book, Chapter in Scholarly Book-New
- Hermans, C.; Howarth, R. B.; Noordewier, T. G.; Erickson, J. - "Constructing preferences in structured group deliberative processes" (Refereed)
- Deliberative Ecological Economics/Oxford University Press
- 2008
,
- Noordewier, T. G.; Sinkula, J. M. - "Export Strategies and Export Performance: An Empirical Investigation of a Products/Markets Typology" (Refereed)
- JAI Press
- 1996 - v. 8, pp. 27-58
,
Book, Scholarly-New
- LaLonde, B. J.; Noordewier, T. G.; Cooper, M. C. - "Customer Service: A Management Perspective" (Refereed)
- Customer Service: A Management Perspective/ Council of Logistics Management
- 1988
,
Book Review
- Noordewier, T. G. - "Review of "The Housing Boom and Bust," by Thomas Sowell" (Refereed)
- Journal of Real Estate Literature
- 2011 - v. Vol. 19, no. 2, pp. pp. 489-492
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