Search results
1 – 10 of over 18000Ying-Feng Kuo, Cheng-Han Lin and Jian-Ren Hou
Crowdfunding allows enterprises or individuals to collect funds from numerous other individuals. This study applies the anchoring effect and range theory in reward-based…
Abstract
Purpose
Crowdfunding allows enterprises or individuals to collect funds from numerous other individuals. This study applies the anchoring effect and range theory in reward-based crowdfunding to explore how different pledge option designs affect the backers' final pledge amount. Moreover, this study examines whether showing the current average amount pledged in the fundraising process has an anchoring effect on the subsequent backers' pledge amount.
Design/methodology/approach
Online experiments were conducted, and data were analyzed using the Kruskal–Wallis test and Spearman rank correlation analysis.
Findings
Results show that among the three pledge option designs, employing the “bolstering range offer” has the highest backing amount. However, presenting the current average amount pledged in the fundraising process has a reversed anchoring effect on subsequent backers' pledge amount only in the case of a crowdfunding project in the physical goods category with a “point offer.”
Originality/value
To the best of authors’ knowledge, no reward-based crowdfunding platform has yet provided the pledge option design of a “bolstering range offer.” This study reveals that the “bolstering range offer” can significantly increase the amount pledged. This study extends the crowdfunding research area to crowdfunding success and suggests a novel way to set up pledges.
Details
Keywords
Nathalie Kron, Jesper Björkman, Peter Ek, Micael Pihlgren, Hanan Mazraeh, Benny Berggren and Patrik Sörqvist
Previous research suggests that the compensation offered to customers after a service failure has to be substantial to make customer satisfaction surpass that of an error-free…
Abstract
Purpose
Previous research suggests that the compensation offered to customers after a service failure has to be substantial to make customer satisfaction surpass that of an error-free service. However, with the right service recovery strategy, it might be possible to reduce compensation size while maintaining happy customers. The aim of the current study is to test whether an anchoring technique can be used to achieve this goal.
Design/methodology/approach
After experiencing a service failure, participants were told that there is a standard size of the compensation for service failures. The size of this standard was different depending on condition. Thereafter, participants were asked how much they would demand to be satisfied with their customer experience.
Findings
The compensation demand was relatively high on average (1,000–1,400 SEK, ≈ $120). However, telling the participants that customers typically receive 200 SEK as compensation reduced their demand to about 800 SEK (Experiment 1)—an anchoring effect. Moreover, a precise anchoring point (a typical compensation of 247 SEK) generated a lower demand than rounded anchoring points, even when the rounded anchoring point was lower (200 SEK) than the precise counterpart (Experiment 2)—a precision effect.
Implications/value
Setting a low compensation standard—yet allowing customers to actually receive compensations above the standard—can make customers more satisfied while also saving resources in demand-what-you-want service recovery situations, in particular when the compensation standard is a precise value.
Details
Keywords
George Stockman, Jayson Payne, Jermil Sadler and Dirk Colbry
To report on the evaluation of error of a face matching system consisting of a 3D sensor for obtaining the surface of the face, and a two‐stage matching algorithm that matches the…
Abstract
Purpose
To report on the evaluation of error of a face matching system consisting of a 3D sensor for obtaining the surface of the face, and a two‐stage matching algorithm that matches the sensed surface to a model surface.
Design/methodology/approach
Rigid mannikin face that was, otherwise, fairly realistic was obtained, and several sensing and matching experiments were performed. Pose position, lighting and face color were controlled.
Findings
The combined sensor‐matching system typically reported correct face surface matches with trimmed RMS error of 0.5 mm or less for a generous volume of parameters, including roll, pitch, yaw, position, lighting, and facecolor. Error accelerated beyond this “approximately frontal” set of parameters. Mannikin results are compared to results with thousands of cases of real faces. The sensor accuracy is not a limiting component of the system, but supports the application well.
Practical implications
The sensor supports the application well (except for the current cost). Equal error rates achieved appear to be practical for face verification.
Originality/value
No similar report is known for sensing faces.
Details
Keywords
Sumin Helen Koo, Young Bin Lee, Changhwan Kim, Gibaek Kim, Giuk Lee and Je-Sung Koh
The purpose of this research was to develop clothing-typed soft wearable robot embedded with textile-based actuators on ankles for elderly adults needing gait assistance.
Abstract
Purpose
The purpose of this research was to develop clothing-typed soft wearable robot embedded with textile-based actuators on ankles for elderly adults needing gait assistance.
Design/methodology/approach
Design guidelines were developed and they included function (type, targeting area, routing line and anchor points), design (size/fit, fabric/material, fastener, detail, color) and actuator (shape memory alloy type, size, deformation type, integration material, integration technique and evaluation method). Fabric-based actuator, integration methods to fabrics, routing lines and anchoring points were developed based on the guidelines and evaluated. Then, three long socks types and a pants type were designed and prototyped. Routing line position displacement measurement test was conducted with the prototypes. A survey was conducted to investigate satisfaction, likeness and use intention on the design/prototype to modify the designs.
Findings
Important design factors were identified, and design guidelines for clothing-typed soft wearable robots (SWRs) were developed. People satisfied the developed SWR designs and prototypes with mean scores over 4.60.
Originality/value
The results are expected to be helpful for designers and developers of SWRs in the development process, and they will ultimately be beneficial to members of the elderly population who have gait difficulties.
Details
Keywords
P. Matthijs Bal, Lee Matthews, Edina Dóci and Lucy P. McCarthy
Scholarly and general interest in sustainable careers is flourishing. Sustainable careers are focused on the long-term opportunities and experiences of workers across dynamic…
Abstract
Purpose
Scholarly and general interest in sustainable careers is flourishing. Sustainable careers are focused on the long-term opportunities and experiences of workers across dynamic employment situations, and are characterized by flexibility, meaning and individual agency. The current paper analyzes and challenges the underlying ideological assumptions of how sustainable careers are conceptualized and advocates the inclusion of the ecological meaning of sustainability and the notion of dignity into the sustainable careers concept.
Design/methodology/approach
Using Slavoj Žižek's (1989, 2001) conceptualization of ideology as fantasy-construction, the authors explore how the use of sustainable careers is influenced by fantasies about the contemporary workplace and the role of the individual in the workplace. This is a conceptual method.
Findings
The authors argue that the concept of sustainable careers is grounded in the neoliberal fantasy of the individual. The paper concludes by presenting an alternative concept of sustainable careers grounded in a dignity-perspective on sustainability, which offers an alternative theoretical understanding of sustainable careers in the contemporary workplace, sharpening its contours and usefulness in theorizing careers.
Originality/value
This paper is the first to systematically analyze the use and conceptualization of sustainable careers in the literate and to expose the ideological underpinnings of the concept. Propositions are developed to be explored by future research.
Details
Keywords
Shagufta Parveen, Zoya Wajid Satti, Qazi Abdul Subhan, Nishat Riaz, Samreen Fahim Baber and Taqadus Bashir
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Abstract
Purpose
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Design/methodology/approach
The authors have assessed investors' behaviors and sentiments and the stock market overreaction during COVID-19 using a questionnaire and collected data from 401 investors trading in the PSX.
Findings
Results of structural equation modeling revealed that the COVID-19 pandemic affected investors' behaviors, investment decisions and trade volume. It created feelings of fear and uncertainty among market participants. Evidence suggests that behavioral heuristics and biases, including representative heuristic, anchoring heuristic, overconfidence bias and disposition effect, negatively influenced investors' decisions at the PSX.
Research limitations/implications
This study will contribute to behavioral finance literature in the context of developing countries as it has revealed the impact of COVID-19 on the emerging stock market, and its results are generalizable to other emerging stock markets.
Practical implications
The findings of this study will help academicians, researchers and policymakers of developing countries. Academicians can formulate new behavioral models that can depict the solutions of dealing with an uncertain situation like COVID-19. Policymakers like the Securities Exchange Commission and the PSX can formulate crisis management strategies based on behavioral finance concepts to cope with situations like COVID-19 in the future and help lessen investors' losses in the stock markets. The role of the Securities Exchange Commission is crucial as it regulates the financial markets. It can arrange workshops to educate investors to manage their decisions during crisis time and focus on the best use of irrational and rational decision-making at the same time using Lo (2004) adaptive market hypothesis.
Originality/value
The novelty of the paper is that the authors have introduced overconfidence and disposition effect as mediators that create a connection between representative and anchoring heuristics and investment decisions using primary data collected from investors (institutional and retail) to demonstrate the presence of psychological biases during COVID-19, and it has been done for the first time according to authors' knowledge. It is a contribution and addition to the behavioral finance literature in the context of developing countries' stock markets and their efficiency.
Details
Keywords
Ahmad Chihadeh and Michael Kaliske
This paper aims to introduce a method to couple truss finite elements to the material point method (MPM). It presents modeling reinforced material using MPM and describes how to…
Abstract
Purpose
This paper aims to introduce a method to couple truss finite elements to the material point method (MPM). It presents modeling reinforced material using MPM and describes how to consider the bond behavior between the reinforcement and the continuum.
Design/methodology/approach
The embedded approach is used for coupling reinforcement bars with continuum elements. This description is achieved by coupling continuum elements in the background mesh to the reinforcement bars, which are described using truss- finite elements. The coupling is implemented between the truss elements and the continuum elements in the background mesh through bond elements that allow for freely distributed truss elements independent of the continuum element discretization. The bond elements allow for modeling the bond behavior between the reinforcement and the continuum.
Findings
The paper introduces a novel method to include the reinforcement bars in the MPM applications. The reinforcement bars can be modeled without any constraints with a bond-slip constitutive model being considered.
Originality/value
As modeling of reinforced materials is required in a wide range of applications, a method to include the reinforcement into the MPM framework is required. The proposed approach allows for modeling reinforced material within MPM applications.
Details
Keywords
Following a period of consultation, Southern Focus Trust implemented a skills‐related pay system (SRP) in April 2001. The system moved away from a traditional incremental scheme…
Abstract
Following a period of consultation, Southern Focus Trust implemented a skills‐related pay system (SRP) in April 2001. The system moved away from a traditional incremental scheme in favour of a system which links learning and competency to pay. Job descriptions were replaced by role profiles described in terms of ‘key results areas’ and, in turn, defined by a list of competencies linked to national vocational standards (NVQ). Newly recruited staff join the organisation at an initial ‘entry point’ before moving to an ‘anchor point’ after a period of probation. The following two and a half years provide an opportunity for staff to assess their skills against the defined competencies in concert with regular supervision and development from their manager before progressing to a ‘skills point’. The system clarifies staff expectations, focuses on learning and development needs, increases self‐esteem and self‐management and allows faster adaptation to changes in practice.
Though brand love is recognized as being an important marketing topic both for theory and practice, a gap still exists with regard to its operationalization. To bridge this gap…
Abstract
Purpose
Though brand love is recognized as being an important marketing topic both for theory and practice, a gap still exists with regard to its operationalization. To bridge this gap, this paper proposes a single-item measure (SIM) that uses a visual rating scale (i.e., a rating scale combining verbal with nonverbal contents).
Design/methodology/approach
Three studies covering over 700 respondents and examining three international brands over three product categories were conducted to test the new measure.
Findings
Findings provide consistent evidence for the reliability and validity of the proposed measure. They also demonstrate that brand love, as gauged by the new SIM, is good in predicting positive word of mouth, willingness to pay a higher price, and willingness to forgive brand mishaps.
Research limitations/implications
The paper focuses on brand love mainly from a measurement perspective.
Practical implications
This paper provides a practical and parsimonious tool to measure brand love.
Originality/value
Extant SIMs of brand love are less than ordinal, content invalid, of unknown reliability, and of untested concurrent validity. This paper provides academics and practitioners alike with a SIM of brand love that is ordinal, content valid, and tested in terms of reliability and concurrent validity.
Details
Keywords
Jean‐Léon Beauvois and Nicole Dubois
Notes that people use self‐presentation strategies to enhance their self‐image, and in doing so, they rely on norms. Raises the question of the desirability and feasibility of…
Abstract
Notes that people use self‐presentation strategies to enhance their self‐image, and in doing so, they rely on norms. Raises the question of the desirability and feasibility of giving training to individuals in normative self‐presentation, where the idea is to teach the trainees to refer to judgment norms when responding in formal evaluation situations (like job interviews). Three judgment norms are used as illustration: internality, self‐sufficiency, and individual anchoring. The materials for training in these three norms are tested using the methods and techniques of the socionormative approach, and briefly presented. The ethical implications of this type of training are discussed.
Details