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This study aims to conduct a bibliometric analysis to provide a comprehensive picture and identify future research directions to enrich the existing literature on behavioral biases.

The data set comprises 518 articles from the Web of Science database. Performance analysis is used to highlight the significant contributors (authors, institutions, countries and journals) and contributions (highly influential articles) in the field of behavioral biases. In addition, network analysis is used to delve into the conceptual and social structure of the research domain.

The current review has identified four major themes: “Influence of behavioral biases on investment decisions,” “Determinants of home bias,” “Impact of biases on stock market variables” and “Investors’ decision-making under uncertainty.” These themes reveal that a majority of studies have focused on equity markets, and research on other asset classes remains underexplored.

This study extracted data from a single database (Web of Science) to ensure standardization of results. Consequently, future research could broaden the scope of the bibliometric review by incorporating multiple databases.

The novelty of this research is to provide valuable guidance by evaluating the existing literature and advancing the knowledge base on the conceptual and social structure of behavioral biases.

The purpose of this paper is to examine whether mandatory disclosure of information accompanying the sale of real estate achieves its aim of informed purchasers.

Using a case study approach focused on mandatory disclosure in South Australia data was collected from interviews and focus groups with key personnel in the property industry involved in the production of information required to fulfil vendors’ disclosure obligations.

The authors found that purchasers are ill-served by a long and complex form of mandatory disclosure with a short time frame that prevents the use of the information provided. Without good form design and increased digital affordances provided by the cadastral and conveyancing systems, mandatory disclosure is insufficient to ensure minimisation of information asymmetry between vendor and purchaser.

To the best of the authors’ knowledge, this is the first Australian qualitative study that examines the utility of mandatory vendor disclosure in real estate sales and the first to consider the impact of the digitalisation of cadastral and conveyancing systems upon the efficacy of mandatory disclosure regimes.

This paper aims to provide an elucidative and explanatory overview of decision-making theory that human resource management and development (HR) researchers and practitioners can use to explore the impact of heuristics and biases on organizational decisions, particularly within HR contexts.

This paper draws upon three theoretical resources anchored in decision-making research: the theory of bounded rationality, the heuristics and biases program, and cognitive-experiential self-theory (CEST). A selective narrative review approach was adopted to identify, translate, and contextualize research findings that provide immense applicability, connection, and significance to the field and study of HR.

The authors extract key insights from the theoretical resources surveyed and illustrate the linkages between HR and decision-making research, presenting a theoretical framework to guide future research endeavors.

Decades of decision-making research have been distilled into a digestible and accessible framework that offers both theoretical and practical implications.

Heuristics are mental shortcuts that facilitate quick decisions by simplifying complexity and reducing effort needed to solve problems. Heuristic strategies can yield favorable outcomes, especially amid time and information constraints. However, heuristics can also introduce systematic judgment errors known as biases. Biases are pervasive within organizational settings and can lead to disastrous decisions. This paper provides HR scholars and professionals with a balanced, nuanced, and integrative framework to better understand heuristics and biases and explore their organizational impact. To that end, a forward-looking and direction-setting research agenda is presented.

Do digital technologies of early 21st century capitalism promote or reduce consumer sovereignty? This chapter addresses this question by examining John Kenneth Galbraith’s critique of consumer sovereignty during the post-war period of industrial society and looks at the insights he provides to understand the impact of platform capitalism on consumer sovereignty today. This chapter has the following sections: (1) I review the main postulates of Galbraith’s theory; (2) I highlight the main differences between traditional advertising and online behavioral advertising; (3) I explain how online behavioral advertisement strengthens Galbraith’s dependence effect and revised sequence theories; (4) I then discuss normative challenges raised by digital platform corporations to individual sovereignty; and (5) finally, I argue that platform capitalism is a mature form of Galbraith’s “new industrial state.”

Social media networks make their services freely available to all users. Users pay for the service received with the time and attention taken by the advertisements. This chapter argues that social media platforms are a unique form of monopoly driven by “the more the merrier” effect (i.e., network effects) in users' consumption. These monopolies exercise market power, not by charging higher prices to users but by “tying” larger amounts of advertising to their content. Traditional antitrust instruments designed to address excessive pricing and reduced output by monopolies need to be reframed to tame the attention economy problems in the social media industry. This chapter discusses five antitrust instruments grouped in three categories: structural, behavioral, and market-based remedies. Market-based solutions are the least explored in the literature, despite being the most promising instruments to lower the attention costs imposed on users, while preserving the economies of scope in production and the network effects in consumption, and possibly maintaining free access to social media, as we know it today.

The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem.

This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z).

Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations.

This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged.

Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation.

To the best of the authors’ knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia.

This study aims to understand the degree of predictability and value in analyzing consumer purchase patterns in the US wine retail market. The study considers whether brands in US wine retailing follow the well-established Duplication of Purchase Law and Double Jeopardy Law.

Over 20,000 customer panel wine purchases were analyzed from a number of locations within a supermarket chain based on the West Coast of the USA. Cross-purchasing behavior for the top 20 wine brands by market penetration was analyzed to assess whether the well-established Duplication of Purchase Law and Double Jeopardy Law hold up in this wine retail setting in the USA. The degree of predictability and the existence of anomalies in expected cross-purchasing behavior were identified in the analysis.

Results confirmed a Double Jeopardy pattern and that wine cross-purchasing patterns for the most part followed the Duplication of Purchase Law. However, exceptions to these patterns were found, which indicated areas in need of managerial attention due to the potential to remedy, develop or monitor the most prominent variations between predicted and realized cross-purchasing behavior. Repeated identification of variations has been identified in other product categories, known as market partitions.

Although it is commonly believed that wine is a unique product category, the results of this study demonstrate that consumer behavior toward wine is similar to other fast-moving consumer goods. The exceptions suggest that while similar consumer purchase patterns are evident, consumers are more likely to cross purchase wine brands and grape types more than would be expected given Duplication of Purchase Law benchmarks.

The purpose of this paper is to examine the influences of negative performance feedback on firms' cost behaviors including productive behaviors (i.e. R&D behaviors) and non-productive behaviors (i.e. selling behaviors and business entertainment behaviors), as well as to investigate the roles of ownership types and marketization.

A sample of Chinese manufacturing firms from 2007 to 2018 is analyzed employing multiple regression models.

The results show that negative performance feedback has a positive but not significant effect on R&D behaviors, while its effect on selling behaviors is significantly positive. Meanwhile, there is an inverted U-shaped relationship between negative performance feedback and business entertainment behaviors. Furthermore, when facing a performance dilemma, state-owned enterprises tend to adjust selling behaviors, while nonstate-owned enterprises pay more attention to business entertainment behaviors. In terms of marketization, the firms in high-marketization regions are more likely to adjust their R&D, selling and business entertainment behaviors, while the firms in low-marketization regions are difficult to adjust these cost behaviors.

This study explores the role of negative performance feedback in firms' cost behaviors and provides empirical evidence about the differentiated influences regarding ownership types and marketization.

Integrating insights from existing studies and introducing the behavioral theory of the firm and prospect theory, this study proposes a more inclusive framework that addresses the impacts of negative performance feedback on firms' cost behaviors. This paper deepens the understanding of firms' decision behaviors in the dilemma of performance shortfall.

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from Veblen’s theory, was developed in the US in the early 20th century. This approach was part of a wider stream of empirical analyses of consumption expenditure that had begun more than a century earlier.

Along with elements that can be traced back to the neoclassical tradition, in Keynes’ analysis of consumption, we find original elements. The dependence of consumption expenditure on the level of income, which is essential for asserting the principle of effective demand, can also be found in a long tradition of empirical studies. In qualifying this relationship, Keynes uses theoretical elements echoing key insights of the economics of consumption as a social phenomenon. There is no documentary evidence that Kyrk or the economics of the social relevance of consumption came to Keynes’ attention. It is possible, however, to develop reasonable speculative considerations to argue a link between Keynes’ elaboration and both the empirical literature on the determinants of consumption and the economics of consumption as a social phenomenon.