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Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

This study aims to correct errors in, and comment on the claims made in the comment papers of Rigdon (2022) and Henseler and Schuberth (2022), and to tidy up any substantive oversights made in Cadogan and Lee (2022).

The study discusses and clarifies the gap between Rigdon’s notion of scientific realism and the metaphysical, semantic and epistemological commitments that are broadly agreed to be key principles of scientific realism. The study also examines the ontological status of the variables that Henseler and Schuberth claim are emergent using emergence logic grounded in the notion that variables are only truly emergent if they demonstrate a failure of generative atomism.

In scientific realism, hypothetical causal contact between the unobserved and the observed is a key foundational stance, and as such, Rigdon’s concept proxy framework (CPF) is inherently anti-realist in nature. Furthermore, Henseler and Schuberth’s suggestion that composite-creating statistical packages [such as partial least squares (PLS)] can model emergent variables should be treated with skepticism by realists.

Claims made by Rigdon regarding the realism of CPF are unfounded, and claims by Henseler and Schuberth regarding the universal suitability of partial least squares (PLS) as a tool for use by researchers of all ontological stripes (see their Table 5) do not appear to be well-grounded.

Those aspiring to do science according to the precepts of scientific realism need to be careful in assessing claims in the literature. For instance, despite Rigdon’s assertion that CPF is a realist framework, we show that it is not. Consequently, some of Rigdon’s core criticisms of the common factor logic make no sense for the realist. Likewise, if the variables resulting from composite creating statistical packages (like PLS) are not really emergent (contrary to Henseler and Schuberth) and so are not real, their utility as tools for scientific realist inquiry are called into question.

This study assesses PLS using the Eleatic Principle and examines H&S’s version of emergent variables from an ontological perspective.

The purpose of this study is to analyse the characteristics of cellulose fibres derived from the pseudo-stems of Curcuma longa and to evaluate the properties of non-woven fabric produced using these fibres.

The fibres were extracted via a decortication method. The acquired intrinsic qualities of the fibres were used to assess the feasibility of using them in textile applications. The thermal bonding approach was used for the development of the non-woven fabric, using a hot press machine with low-melt polyester fibre as a binder.

The mean length of Curcuma longa fibres was determined to be 52.73 cm, with a fineness value of 4.00 tex. The fibres exhibited an uneven cross-sectional morphology, characterized by a diverse range of oval-shaped lumens. The fibre exhibited a tenacity of 1.45 g/denier and an elongation value of 4.30%. The fibres possessed a moisture regain value of 11.30%. The experimental non-woven fabrics had consistent weight and thickness, while exhibiting different properties in terms of tensile strength and air permeability, with Fabric C having the highest tensile strength and the lowest air permeability value.

The features of Curcuma longa fibre, obtained with the decortication process, exhibited suitability for textile applications. Three experimental non-woven fabrics comprising different compositions of Curcuma longa fibre and low-melt polyester fibre were produced. The tensile strength and air permeability properties of these fabrics were influenced by the composition of the fibres.

The purpose of the study is to investigate micro determinants for dynamic wine pricing in Argentina. We test whether attributes and time affect the price rate of change. The rate of change is selected given the inflationary context of the country. The analysis provides valuable information for wine marketing decisions.

The modeling approach relies on panel data analysis for exploiting the data cross-section and time dimension. The contribution explores a massive price dataset at a weekly frequency. The dependent variable is the weekly price variation rate for product/wine and covariates are attributes, time and nominal variables. Given that endogeneity issues arose, the estimations rely on a two-stage least squares and instrumental variables with cluster-robust errors.

Estimations show that attributes, time and cost variables are statistically significant, with clear seasonal patterns and quality segmentation affecting pricing: wines made out of specific grapes such as Chenin, Merlot and Seedling or composing a broad category such as red wine, exhibit price undershooting (price rate of change below average). On the other hand, wines out of grapes such as Bonarda, Margaux, Mistela, Moscatel, Oporto, Tannat and Sauvignon Blanc show price overshooting (rate of change above average). In summary, wine made from determined grapes and specific wineries show divergent pricing.

Covariates such as alcohol content, label descriptor information, winery history, substitute competition and vintage, among others, have not been considered given that the research analyzes more than 750 wine products. Another limitation is that the work does not explore many time-series covariates, such as promotions and idiosyncratic shocks.

The contribution presents new information on wine pricing patterns affected by weeks, months and years, including the effect of the prolonged 2020 Argentine lockdown. It also analyzes estimations on pricing at the level of grape/blend and wineries previously unknown in this market. The information can influence inventory decisions on the side of the sellers and purchase decisions on the side of consumers.

The analysis includes fine but also low-cost wines that form part of the diet of low-income families in the country. The work detects a divergent pattern in pricing divided by the quality/price of the wine. It also presents information on price timing that may help consumers in the best moment to buy.

The contribution analyzes unprecedented information on weekly wine prices and presents evidence of pricing tactics from a point-of-sale perspective: It identifies different adjustment speeds related to product features and time effects.

This paper aims to investigate the effects of school quality (SQ) on residential property prices in Johannesburg, South Africa. Previous studies have empirically examined the quality of private and public schools without a standard proxy that is accepted in the literature. As a result, this paper extends the literature to the global south by the effect that SQ has on residential property price changes in the local markets of the City of Johannesburg.

The research adopts the hedonic pricing model to evaluate and quantify the impact that the structural attributes such as erf size; number of bedrooms and bathrooms; and SQ measured by pass rates, sport rankings and quality of facilities have on house prices. A total of 2,763 property transactions covering the Kensington and Observatory areas of the City of Johannesburg over the period 2010 and 2020 were obtained from the deeds registry and used for the empirical analysis.

The study finds that SQ has a positive impact on house prices. When the average pass rate of the model school increases by 1%, all other things being equal, house prices also increase by 1.8%. This suggests that people who live closer to the model school are willing to pay more when the school performance improves. The 1.8% premium this study attributes to a 1% increase in school performance is however generally low when compared to some findings in the literature suggesting that there may be some other important factors that households consider when purchasing their home.

The main contribution is uncovering the relationship between the SQ and residential property prices in the local markets, using Kensington and Observatory in Johannesburg as sampled areas. Due to the presence of reliable and quality of data sets, such studies are not many in the global south and a study of this nature in South Africa is notably not existing in the literature.

The objective of this study is to analyze the experiences in wine tourism according to narratives shared by the visitors themselves. Furthermore, this study aims to examine the levels of intensity associated with these experiences within a wine destination, considering the segmentation of visitors.

This study uses a mixed-methods approach to analyze data, incorporating a deductive process followed by content analysis. Data collection procedures include a bibliographic review and a data survey conducted through netnography research to analyze 954 visitor reviews on TripAdvisor shared by visitors to Vale dos Vinhedos. Also, statistical analysis is performed to assess whether there are any significant variations in attribute citations among different market segmentation profiles.

The study’s discoveries indicate that there are no significant differences in intensity among profile segments for the dimensions of entertainment, aesthetics, educational and interactions, unlike escapism. The findings reveal that attributes such as “winery,” “wine,” “products and services” and “landscape” are essential for all visitors. In addition, the study shows that social interactions in the wine tourism destination are not as significant as previously assumed.

This research study constitutes a methodological advancement in the field of market segmentation using electronic word-of-mouth data. It provides crucial insights into the experiential nuances of the research locus and the varying degrees of these experiences in relation to visitor segmentation. Additionally, the contributions of this study are not only of theoretical importance but also hold practical implications for market segmentation strategies.

Land value varies at a micro level depending on the location’s economic, geographical and political determinants. The purpose of this study is to present a comprehensive assessment of the determinants affecting land value in the Indian city of Thiruvananthapuram in the state of Kerala.

The global influence of the identified 20 explanatory variables on land value is measured using the traditional hedonic price modeling approach. The localized spatial variations of the influencing parameters are examined using the non-parametric regression method, geographically weighted regression. This study used advertised land value prices collected from Web sources and screened through field surveys.

Global regression results indicate that access to transportation facilities, commercial establishments, crime sources, wetland classification and disaster history has the strongest influence on land value in the study area. Local regression results demonstrate that the factors influencing land value are not stationary in the study area. Most variables have a different influence in Kazhakootam and the residential areas than in the central business district region.

This study confirms findings from previous studies and provides additional evidence in the spatial dynamics of land value creation. It is to be noted that advanced modeling approaches used in the research have not received much attention in Indian property valuation studies. The outcomes of this study have important implications for the property value fixation of urban Kerala. The regional variation of land value within an urban agglomeration shows the need for a localized method for land value calculation.

The social capital theory is increasingly being looked at as a valuable paradigm to understand if community socioeconomic factors influence health behaviours and outcomes. This requires an understanding of the forms in which social capital manifests and the levels at which it operates.

Thus, the purpose of this paper is to study if social capital is associated with health outcomes among older adults in India and providing an estimate of the extent to which the neighbourhood differences in health outcomes among the older adults can be attributed to social capital.

The authors find several forms of social capital to be associated with health outcomes among older adults. The results show that community-level social capital variables collectively explain 12.81% unexplained neighbourhood variation in self-rated health, 2.5% variation in psychological well-being and 11.32% variation in the ability to perform activities of daily living, respectively.

The findings highlight the role social capital plays in serving as a coping mechanism for older adults to survive deteriorating health and social exclusion and call for conscious investment in building social capital.

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19 pandemic’s once-off disruptive effects.

Longitudinal data are retrieved by online traveler reviews (n = 519,200) from the Canary Islands, Spain, over a period of seven years (2015 to 2022). A time series analysis decomposes the seasonal, trend and disruptive effects of six prominent accommodation features (view, terrace, pool, shop, location and room).

Single accommodation features reveal different seasonal patterns. Trend analyses indicate long-term trend effects and short-term disruption effects caused by Covid-19. In contrast, no long-term effect of the pandemic was found.

The findings stress the need to address seasonality at the single accommodation feature level. Beyond targeting specific features at different guest groups, new approaches could allow dynamic price optimization. Real-time insight can be used for the targeted marketing of platform providers and accommodation owners.

A novel application of a time series perspective reveals trends and seasonal changes in travelers’ accommodation feature preferences. The findings help better address travelers’ needs in P2P offerings.

This research compares consultants' and contractors' professional practices and perspectives on the use of specifications in the engineering of built environment projects.

The study initiates with a review of literature, toward realizing (1) the need for inclusion of specifications, throughout the projects' stages (design, tender, construction and handing over), as well as the (2) causes and effects of defective specifications in design and execution of engineered projects. Additionally (3) the study investigates the challenges and causes of specification variations to projects' design and execution. The systematic methodology adopted in this research utilizes frequency indicators, to rank and correlate the perspectives of 60 professionals, who are experienced in consulting and contracting of mega public and private projects.

The research considers the uncertainties and differences that could be present in engineering developments and use of design specifications for projects' execution and handing over. The two groups of experts' (consultants and contractors) perspectives are usually observed as conflicting, in practice. Practices comparison of their experiences with engineering projects' specifications usability provides unique empirical findings. The analysis and assessment of the experts' knowledge, this research addresses gaps identified in the literature, providing valuable insights.

The study provides in-depth recommendations and discusses possible trends and methods for enhancing specifications' usability in design engineering and execution of built environment projects. The analysis and recommendations present and assess experts' knowledge while bridge gaps identified from the literature.