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A central question of public administration is how political principals secure the cooperation of administrators within organisational frames and contexts; increasingly, rational influences are being considered alongside bounded rationality and non-rational influences. This paper aims to explore the intent of New Zealand’s Public Service Act 2020 in managing administrative behaviour.

The methodology is primarily ethnographic, combining emic and etic perspectives. A mixed-methods approach comprises participant observer field notes and meeting documentation, substantiated by official documents; documents were analysed thematically and triangulated with other data sources.

The Public Service Act introduces new bounds on administrative behaviour. The stated rationale for these changes reveals an attempt to set limits on the principal–agent relationship between politicians and administrators and causes predictable deviations from rational behaviour by cultivating public service motivation and a unified public service identity.

As the legislation in question was only passed in 2020, it is too early to definitively assess the ultimate impact of legislation on administrative behaviour. This case study demonstrates that behavioural approaches to public administration are being applied intentionally by governments. The choice architecture created in the case study blends rational, bounded, and non-rational influences. Together, this produces a bricolage of semi-relevant theories from other disciplines, especially psychology, to explain administrative behaviour. Further refinement is needed to develop a cohesive and comprehensive theory of administrative behaviour that can account for contemporary practice.

Administrators act as agents of political principals, within ethical and rules-based limitations and influenced by public service motivation and social identity. Shifting from implicit to explicit choice architecture does not negate possible tensions between bounds and can signal them more explicitly. Shared symbols are sometimes intended to influence identity and therefore adherence to behavioural norms.

This paper explores the manipulation of choice architecture as a viable strategy for altering behaviour for the better and, to the best of the authors’ knowledge, is the first known instance of choice architecture being “legislated in” rather than merely “showing through”. This study illustrates the blending of rational, boundedly rational and non-rational factors into a choice architecture for public administrators that help mediate the biases and challenges of principal–agent relationships (which form a cascade in New Zealand’s public administration system).

This paper considers the brand awareness and anchor influence on consumers' live-streaming purchases, and explores the existence of “free-riding” behavior, the comparison of brand promotion effect and active live-streaming effect and the optimal strategic combination between the brand and the anchor. The authors investigate the evolutionary stabilization strategies of the bounded rational brand and anchor, and explore the conditions for the realization of the optimal strategy. Management suggestions for the development of live streaming commerce can be provided in this paper.

Two significant models are used in this paper. The Stackelberg model is used to study the “free-riding” behavior, the comparison of brand promotion effect and active live-streaming effect and the optimal strategic combination between the brand and the anchor. Using evolutionary game theory to get the evolutionary stable equilibrium strategies and analyze the binary equilibrium strategy of the bounded rational brand and anchor. In addition, relevant simulation analysis is conducted using realistic data to verify the conclusions and for further analysis, making the conclusions of the paper have realistic significance.

The study shows that “free-riding” behavior exists and the positive effect of brand promotion is greater than that of active live-streaming. The brand and the anchor take active actions as the optimal strategy. As the sensitivity coefficient of consumers to live-streaming effort and the sensitivity coefficient of consumers to brand promotion change, various evolutionary stabilization strategies will appear. When the two sensitivity coefficients are below a certain threshold, the game sides will reach the optimal strategic combination to obtain the maximum benefits. When they rise above this threshold, it is counterproductive instead. The system achieves the optimal strategic combination when the difference factor between effort cost and promotion cost must be higher than a certain value, but when it takes the smallest possible value, the game sides tend to take active actions. This study can provide management suggestions for the sustainable development of the live-streaming model.

This paper shows that under certain conditions, the brand and the anchor can evolve into the optimal strategy to maximize the profits of both parties, which has certain practical significance for the prosperous development of live streaming commerce. In future research, the authors will consider the regulatory role of the government and construct a more realistic game model to provide constructive suggestions for the sustainable prosperity of live streaming commerce. Meanwhile, there are also games between multiple brands and multiple anchors, as well as games among brands-anchors-the live streaming platforms, and the authors will conduct more in-depth research in the future.

So far, the co-impact of anchor influence and brand awareness has not been considered simultaneously in published articles. This paper provides theoretical guidance for the behavioral choices of the brand and the anchor under the live streaming commerce, which is conducive to the prosperous development of live streaming commerce.

The author presents new estimates of the probability weighting functions found in rank-dependent theories of choice under risk. These estimates are unusual in two senses. First, they are free of functional form assumptions about both utility and weighting functions, and they are entirely based on binary discrete choices and not on matching or valuation tasks, though they depend on assumptions concerning the nature of probabilistic choice under risk. Second, estimated weighting functions contradict widely held priors of an inverse-s shape with fixed point well in the interior of the (0,1) interval: Instead the author usually finds populations dominated by “optimists” who uniformly overweight best outcomes in risky options. The choice pairs used here mostly do not provoke similarity-based simplifications. In a third experiment, the author shows that the presence of choice pairs that provoke similarity-based computational shortcuts does indeed flatten estimated probability weighting functions.

This study aims to analyze corporate mail and wire fraud penalties, using bounded rationality in decision-making and assessing internal and external influences on prosecutorial choices.

The study analyzed 467 cases from 1992 to 2019, using data from the Corporate Prosecution Registry of the University of Virginia School of Law and Duke University School of Law. It examined corporations facing mail and wire fraud charges and other fraud crimes. Multiple regression linked predictor variables to the dependent variable, total payment.

The study found that corporate penalties tend to be lower for financial institutions or corporations in countries with US free trade agreements. Conversely, penalties are higher when the company is a U.S. public company or filed in districts with more pending criminal cases.

This study’s originality lies in applying the bounded rationality model to assess corporate prosecutorial decisions, unveiling external factors’ influence on corporate penalties.

The authors discuss the econometric underpinnings of Barro (2006)'s defense of the rare disaster model as a way to bring back an asset pricing model “into the right ballpark for explaining the equity-premium and related asset-market puzzles.” Arbitrarily low-probability economic disasters can restore the validity of model-implied moment conditions only if the amplitude of disasters may be arbitrary large in due proportion. The authors prove an impossibility theorem that in case of potentially unbounded disasters, there is no such thing as a population empirical likelihood (EL)-based model-implied probability distribution. That is, one cannot identify some belief distortions for which the EL-based implied probabilities in sample, as computed by Julliard and Ghosh (2012), could be a consistent estimator. This may lead to consider alternative statistical discrepancy measures to avoid the problem with EL. Indeed, the authors prove that, under sufficient integrability conditions, power divergence Cressie-Read measures with positive power coefficients properly define a unique population model-implied probability measure. However, when this computation is useful because the reference asset pricing model is misspecified, each power divergence will deliver different model-implied beliefs distortion. One way to provide economic underpinnings to the choice of a particular belief distortion is to see it as the endogenous result of investor's choice when optimizing a recursive multiple-priors utility a la Chen and Epstein (2002). Jeong et al. (2015)'s econometric study confirms that this way of accommodating ambiguity aversion may help to address the Equity Premium puzzle.

The COVID-19 epidemic is still spreading globally and will not be completely over in a short time. Wearing a mask is an effective means to combat the spread of COVID-19. However, whether the public wear a mask for epidemic prevention and control will be affected by stochastic factors such as vaccination, cultural differences and irrational emotions, which bring a high degree of uncertainty to the prevention and control of the epidemic. The purpose of this study is to explore and analyze the epidemic prevention and control strategies of the public in an uncertain environment.

Based on the stochastic evolutionary game model of the Moran process, the study discusses the epidemic prevention and control strategies of the public under the conditions of the dominance of stochastic factors, expected benefits and super-expected benefits.

The research shows that the strategic evolution of the public mainly depends on stochastic factors, cost-benefit and the number of the public. When the stochastic factors are dominant, the greater the perceived benefit, the lower the cost and the greater the penalty for not wearing masks, the public will choose to wear a mask. Under the dominance of expected benefits and super-expected benefits, when the number of the public is greater than a certain threshold, the mask-wearing strategy will become an evolutionary stable strategy. From the evolutionary process, the government’s punishment measures will slow down the speed of the public choosing the strategy of not wearing masks. The speed of the public evolving to the stable strategy under the dominance of super-expected benefits is faster than that under the dominance of expected benefits.

The study considers the impact of stochastic factors on public prevention and control strategies and provides decision-making support and theoretical guidance for the scientific prevention of the normalized public.

To the best of the authors’ knowledge, no research has considered the impact of different stochastic interference intensities on public prevention and control strategies. Therefore, this paper can be seen as a valuable resource in this field.

The purpose of this study is to examine the role of personality traits (PTs) of individual investors on their investment intention (II). Further, to study the mediating role of overconfidence (OC) bias and financial literacy (FL) on the relationship between PTs and II.

The present study uses the quantitative approach for the data collection from the sample of 327 Indian investors investing in the stock market. The questionnaire was divided into segments to assess the investor’s PTs, OC, FL and II. The PT has been measured using the Big Five Personality Traits. Confirmatory factor analysis was used to test the reliability and validity of the constructs. The hypothesis was tested using structural equation modeling.

Findings of the study show that the PTs of an individual investor are associated with FL and II but insignificant with OC bias. Further, the FL and OC bias have a positive and significant influence on II. In addition, the mediation analysis showed that FL partly mediates the relationship between PTs and II.

The present study is helpful for financial companies, government, personal finance advisors and individual investors; they can keep in mind the behavior-related traits that can influence the investment decisions and design the portfolio accordingly. The policy-makers can implement programs on FL to enhance investment decisions in India.

This paper is unique that covers the mediating role of psychological bias, i.e. OC bias and FL, between the PTs and II of an Indian investor.

The time series of the federal funds rate has recently been extended back to 1928, now including several episodes during which interest rates remained near the lower bound of zero. This series is analyzed, using the method of indirect inference, by applying recent research on bounded time series to estimate a set of bounded parametric diffusion models. This combination uncouples the specification of the bounds from the law of motion. Although Louis Bachelier was the first to use arithmetic Brownian motion to model financial time series, he has often been criticized for this proposal, since the process can take on negative values. Most researchers favor processes such as geometric Brownian motion (GBM), which remains positive. Under this framework, Bachelier's proposal remains valid when specified with bounds and is shown to compare favorably when modeling the federal funds rate.