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This study aims to formulate a mechanism design in the derivatives market, summarizing a framework to set up the Brazilian electricity futures market.

This exploratory study formulates a mechanism design in the derivatives market, summarizing a framework to set up the Brazilian electricity futures market.

The results show a positive economic outcome for the creation of the Brazilian futures electricity market.

The main feature in this work is to summarize a framework to set up the Brazilian electricity futures market applying mechanism design, applicable in other countries. The features of the mechanism are the space of expected results (Z), the strategies to survey the environmental space (θ) and the mechanism design – messages space (M).

In their authoritative literature review, Breen and Jonsson (2005) claim that ‘one of the most significant trends in the study of inequalities in educational attainment in the past decade has been the resurgence of rational-choice models focusing on educational decision making’. The starting point of the present contribution is that these models have largely ignored the explanatory relevance of social interactions. To remedy this shortcoming, this paper introduces a micro-founded formal model of the macro-level structure of educational inequality, which frames educational choices as the result of both subjective ability/benefit evaluations and peer-group pressures. As acknowledged by Durlauf (2002, 2006) and Akerlof (1997), however, while the social psychology and ethnographic literature provides abundant empirical evidence of the explanatory relevance of social interactions, statistical evidence on their causal effect is still flawed by identification and selection bias problems. To assess the relative explanatory contribution of the micro-level and network-based mechanisms hypothesised, the paper opts for agent-based computational simulations. In particular, the technique is used to deduce the macro-level consequences of each mechanism (sequentially introduced) and to test these consequences against French aggregate individual-level survey data. The paper's main result is that ability and subjective perceptions of education benefits, no matter how intensely differentiated across agent groups, are not sufficient on their own to generate the actual stratification of educational choices across educational backgrounds existing in France at the beginning of the twenty-first century. By computational counterfactual manipulations, the paper proves that network-based interdependencies among educational choices are instead necessary, and that they contribute, over and above the differentiation of ability and of benefit perceptions, to the genesis of educational stratification by amplifying the segregation of the educational choices that agents make on the basis of purely private ability/benefit calculations.

This paper aims to develop a conceptual framework for further understanding the risks embedded in co-creation services in high-contact service transactions. It delineates behavioral and economic perspectives focusing on agency costs, risk behavior, compensation structure and provides a context in which information is processed.

Following an extensive review of the literature, propositions are advanced that relate an agent’s risk behavior to information processing, compensation and the propensity to engage in co-creation. These propositions provide a complementary context for understanding risks in the co-creation process.

The propositions detail how a service agent’s information processing can be enhanced if the customer’s expected utility from transactions is maximized by managing the agent’s risk behavior and earnings potential. A compensation structure that balances fixed base and variable pay can motivate risk-taking and the agent’s propensity to engage in co-creation.

This paper extends the understanding of agency risks in the co-creation of hospitality services that integrates economic and behavioral perspectives with information processing. Theoretical implications include a broader context of the risks underlying co-creation. Practical implications relate to how earnings potential could be maximized by considering the agent’s risk behavior and the expected utility arising from such transactions.

The purpose of this paper is to evaluate how the intermediation of an online agent in the relationship between prospective clients and professional service providers affects individual purchasing processes and decisions, and satisfaction with the professional service provider once the commercial transaction is concluded.

Drawing on the integrated trust-technology acceptance model, modified to include two additional variables to take into account of the specificities of the context investigated – users’ perceived reduction of information asymmetry and satisfaction with the professional service provider – a research framework is developed and tested with a research design combining a decision tree procedure with structural equation modelling and multi-group analysis. Participants are 188 users of an Italian website which incorporates an online agent that refers notaries to prospective clients.

Decisions to purchase professional services brokered by online agents depend upon trust in the agent, and users’ perceptions of the agent’s ability to reduce information asymmetry, as well as its perceived usefulness. Online agents for professional services can be effective as well as efficient: users who bought the service from an agent-referred notary had higher levels of satisfaction with their professional service provider than users who purchased the service from a different notary.

This is the first empirical effort to investigate the effects of online agents in the specific context of professional service purchasing. The uniqueness of the research context permitted identification of a new type of online agent, the “double-sided online referral agent”.

This study aims to examine if a pedagogical agent’s expressed anger, when framed as a feedback cue, can enhance mental effort and learning performance in a multimedia learning environment than expressed happiness.

A between-subjects experiment was conducted in which learners engaged with a multimedia learning material that taught programming algorithms, featuring a pedagogical agent who expressed anger or happiness as a feedback cue in response to the learners’ prior performance. Learners completed a self-reported scale and post-test for measuring mental effort and learning performance, respectively.

Female learners reported higher mental effort and had better learning performance when the pedagogical agent expressed anger than happiness. Male learners reported marginally lower mental effort when the pedagogical agent expressed anger than happiness.

This study focuses on a pedagogical agent’s expressed emotion as social information to learners. Extending from research advocating a pedagogical agent’s positive emotional expression, this study highlights the potential benefits of a pedagogical agent’s negative emotional expression, such as anger, as a cue for learners to enhance learning effort and performance in a multimedia learning environment.

The impact of frontline robots (FLRs) on customer orientation perceptions remains unclear. This is remarkable because customers may associate FLRs with standardization and cost-cutting, such that they may not fit firms that aim to be customer oriented.

In four experiments, data are collected from customers interacting with frontline employees (FLEs) and FLRs in different settings.

FLEs are perceived as more customer-oriented than FLRs due to higher competence and warmth evaluations. A relational interaction style attenuates the difference in perceived competence between FLRs and FLEs. These agents are also perceived as more similar in competence and warmth when FLRs participate in the customer journey's information and negotiation stages. Switching from FLE to FLR in the journey harms FLR evaluations.

The authors recommend firms to place FLRs only in the negotiation stage or in both the information and negotiation stages of the customer journey. Still then customers should not transition from employees to robots (vice versa does no harm). Firms should ensure that FLRs utilize a relational style when interacting with customers for optimal effects.

The authors bridge the FLR and sales/marketing literature by drawing on social cognition theory. The authors also identify the product categories for which customers are willing to negotiate with an FLR. Broadly speaking, this study’s findings underline that customers perceive robots as having agency (i.e. the mental capacity for acting with intentionality) and, just as humans, can be customer-oriented.

The purpose of this paper is to study the informational role played by an intermediary in the service industry.

The paper used survey and choice data collected from agents and customers, respectively, in the hotel industry.

The paper shows that informational role of agents in choice varies from mere facilitation of the transaction (e.g. making reservation) to a more active role involving accurate predictions about attributes that consumers will perceive important, more realistic performance evaluation of choice options and providing information about experience attributes. The results also show how an agent's role depends on customer's prior knowledge about the choice options, the goal underlying service consumption (e.g. business vs vacation travel), benefits sought by the consumer and the agent's perception about a long term relationship with the consumer. Finally, the results also reveal a unique pattern of differences between agents and consumers in the perceived importance and performance ratings of various features of the service.

This research is limited to agents in the hotel industry. The hypotheses should be tested on other service agent industries such as airlines and restaurants. Future research should consider other alternative sources of information that consumers may use, such as printed material.

The unique nature of the data set – that is, information from the agent as well as the consumer on the same transaction – offers a great opportunity to study the two different points of view and test some hypothesis regarding the degree to which the players understand each other.

For the past several decades, the sales control literature has focused on the outside sales context. This study aims to extend sales control research by examining formal and informal sales controls, embodied by cultural controls, used by sales managers in an inside sales context, where the sales agent’s performance focus extends beyond sales outcomes to include the influence of operational phone outcomes.

Based on 232 B2C and B2B inside sales agent survey responses, this study presents evidence that in an inside sales department, this study focuses on the congruent effect of formal sales and cultural sales controls on inside sales agent overall performance.

Based on 232 B2C and B2B inside sales agent survey responses, this study presents evidence that in an inside sales department, the operational focus of sales activities and resultant operational performance mediates the relationship between sales controls and inside sales agent sales performance, whereas cultural controls centered on maximizing inside sales autonomous motivation positively moderates the effect of operational outcomes on an inside sales agent’s sales performance.

By focusing on the tenants of an inside sales agent’s overall performance, this research provides practitioners a holistic view of the inherent conflict inside sales managers must balance between the impact of formal sales controls and the benefits of cultural controls.

By being the only study to examine sales controls in an inside sales context, with a broad definition of overall performance to include both sales and operational phone outcomes, this study extends sales control research to a new sales context. The need to jointly focus on operational results, as well as sales outcomes, illustrate the importance of cultural controls compared to other sales processes and outcome controls

The purpose of this paper is to explore the role of accounting information in new product development (NPD) using Strong Structuration Theory. NPD is a complex social action involving a wide range of different actors and clusters of actors. Strong Structuration Theory allows the authors to take a broad view of this social system in order to develop a complete picture of the clusters of actors involved, to comprehensively examine the relevant structures, both internal and external, and to understand how these are formed, reformed or modified through the actions of agents.

A field study of the manufacturing division of a large group was conducted which explored how managers use accounting information during NPD. Examining how these managers draw upon their conjuncturally specific structures of signification, legitimation and domination, and how these are affected by their external structural conditions and their general dispositional frames of meaning, allowed the authors to develop an in-depth understanding of the managers’ behaviour during NPD.

These findings suggest that the managers’ use of accounting information is determined as much by the subjective nature of the managers themselves as it is by the objective characteristics of the structures with which they interact. By using Stones’ composite research strategy, which encourages the authors to conceive of internal structures as always looking outwards and external structures as always looking inwards, the findings help the authors to understand the “connecting tissue” between the different elements of the quadripartite of structuration which has been lacking in previous research in the area. This understanding of the connecting tissue between structures was facilitated by the micro-analysis of six managers within a given conjuncture. Using the concept of the agent-in-focus as a tool with which to switch lenses from manager to manager acknowledged the web-like interdependencies between different processes of structuration. This allowed an exploration of the relationships between the various agents and structures.

This study contributes to the understanding of Stones’ Strong Structuration Theory at both an ontological and methodological level by operationalising Stones’ model in a case study setting.

Research on how performance measurement systems affect employees’ perceptions of workplace fairness is important. As organizations often rely on their performance measurement systems to communicate information to their employees, it is useful to ascertain if and how the developments of performance measurement systems that are far more comprehensive than traditional financial systems affect employees’ perceptions of informational fairness through the information communicated to employees. Informational fairness refers to employees’ perceptions of workplace fairness that is based on the amount and the truthfulness of information that organizations provide to their employees. Based on a sample of managers from manufacturing organizations, the Partial Least Square results indicate that comprehensive performance measurement systems (comprehensive PMS) have a significant direct effect on job-relevant information. They also indicate that comprehensive PMS have an indirect effect on informational fairness via job-relevant information. In contrast, systems that are based on financial measures have no significant effects on job-relevant information and informational fairness. These results demonstrate how comprehensive PMS (through the communication of a greater amount of job-relevant information) can be used to engender employees’ perceptions of high workplace fairness.