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1 – 10 of 779Xiaofen Jiang, Gao Guangkuo and Yang Xuezheng
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
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.
Originality/value
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.
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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…
Abstract
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.
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Claire Nolasco Braaten and Lily Chi-Fang Tsai
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
This study’s originality lies in applying the bounded rationality model to assess corporate prosecutorial decisions, unveiling external factors’ influence on corporate penalties.
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Riidhi Jain, Dipasha Sharma, Abhishek Behl and Aviral Kumar Tiwari
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…
Abstract
Purpose
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.
Design/methodology/approach
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
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.
Practical implications
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.
Originality/value
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.
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Glenn W. Harrison and Don Ross
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…
Abstract
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.
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Anthony K. Hunt, Jia Wang, Amin Alizadeh and Maja Pucelj
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Practical implications
Decades of decision-making research have been distilled into a digestible and accessible framework that offers both theoretical and practical implications.
Originality/value
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.
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Muhammad Nabeel Siddiqui, Xiaolu Zhu, Hanad Rasool, Muhammad Bilal Afzal and Nigar Ahmed
The purpose of this paper is to design an output-feedback algorithm based on low-power observer (LPO), robust chattering-free controller and nonlinear disturbance observer (DO) to…
Abstract
Purpose
The purpose of this paper is to design an output-feedback algorithm based on low-power observer (LPO), robust chattering-free controller and nonlinear disturbance observer (DO) to achieve trajectory tracking of quadrotor in the Cartesian plane.
Design/methodology/approach
To achieve trajectory tracking control, firstly the decoupled rotational and translational model of quadrotor are modified by introducing backstepped state-space variables. In the second step, robust integral sliding mode control is designed based on the proportional-integral-derivative (PID) technique. In the third step, a DO is constructed. In next step, the measurable outputs, i.e. rotational and translational state variables, are used to design the LPO. Finally, in the control algorithm all state variables and its rates are replaced with its estimates obtained using the state-observer.
Findings
The finding includes output-feedback control (OFC) algorithm designed by using a LPO. A modified backstepping model for rotational and rotational systems is developed prior to the design of integral sliding mode control based on PID technique. Unlike traditional high-gain observers (HGO), this paper used the LPO for state estimation of quadrotor systems to solve the problem of peaking phenomenon in HGO. Furthermore, a nonlinear DO is designed such that it attenuates disturbance with unknown magnitude and frequency. Moreover, a chattering reduction criterion has been introduced to solve the inherited chattering issue of controllers based on sliding mode technique.
Practical implications
This paper presents input and output data-driven model-free control algorithm. That is, only input and output of the quadrotor model are required to achieve the trajectory tracking control. Therefore, for practical implementation, the number of on-board sensor is reduced.
Originality/value
Although extensive research has been done for designing OFC algorithms for quadrotor, LPO has never been implemented for the rotational and translational state estimations of quadrotor. Furthermore, the mathematical model of rotational and translational systems is modified by using backstepped variables followed by the controller designed using PID and integral sliding mode control technique. Moreover, a DO is developed for attenuation of disturbance with unknown bound, magnitude and frequency.
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Karen Spector and Elizabeth Anne Murray
Preservice English teachers are expected to use literary theories and criticism to read and respond to literary texts. Over the past century, two of the most common approaches to…
Abstract
Purpose
Preservice English teachers are expected to use literary theories and criticism to read and respond to literary texts. Over the past century, two of the most common approaches to literary encounters in secondary schools have been New Criticism – particularly the practice of close reading – and Rosenblatt's transactional theory, both of which have been expanded through critical theorizing along the way. Elucidated by data produced in iterative experiments with Frost's “The Road Not Taken,” the authors reconceptualize the reader, the text, and close reading through the critical posthuman theory of reading with love as a generative way of thinking outside of the habitual practices of European humanisms.
Design/methodology/approach
In “thinking with” (Jackson and Mazzei, 2023) desiring-machines, affect, Man and critical posthuman theory, this post qualitative inquiry maps how the “The Road Not Taken” worked when students plugged into it iteratively in processes of reading with love, an affirmative and creative series of experiments with literature.
Findings
This study mapped how respect for authority, the battle of good v evil, individualism and meritocracy operated as desiring-machines that channeled most participants’ initial readings of “The Road Not Taken.” In subsequent experiments with the poem, the authors demonstrate that reading with love as a critical posthuman process of reading invites participants to exceed the logics of recognition and representation, add or invent additional ways of being and relating to the world and thereby produce the possibility to transform a world toward greater inclusivity and equity.
Originality/value
The authors reconceptualize the categories of “the reader” and “the text” from Rosenblatt’s transactional theory within practices of reading with love, which they situate within a critical posthuman theory. They eschew separating efferent and aesthetic reading stances while also recuperating practices of “close reading,” historically associated with the New Critics, by demonstrating the generativity of critically valenced “close reading” within a Deleuzian process of reading with love.
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Arvind Shroff, Bhavin J. Shah and Hasmukh Gajjar
Pay-what-you-want (PWYW) is a pricing strategy implemented in a variety of settings like supermarkets and museums, in which consumers determine the price they are willing to pay…
Abstract
Purpose
Pay-what-you-want (PWYW) is a pricing strategy implemented in a variety of settings like supermarkets and museums, in which consumers determine the price they are willing to pay for a product or service based on their perceived utility. The authors propose an analytical model to investigate the impact of PWYW delivery pricing on the online food delivery (OFD) platforms.
Design/methodology/approach
Using a game-theoretic model, the authors characterize the equilibrium as a function of the platform's average delivery cost and the consumer's social preferences parameters like fairness and reciprocity. The authors derive the parametric conditions under which PWYW generates higher profits for the platform compared to the traditional pay-as-asked delivery pricing.
Findings
For the PWYW strategy to be profitable, the average delivery cost to the platform should be low. Therefore, OFD platform managers should focus on reducing delivery costs. The authors also identify the feasible region in which the platform managers need to maintain the consumer's social preferences.
Practical implications
Under PWYW, the authors recommend that the platform managers impose a minimum delivery fee which consumers can use as a benchmark to minimize zero delivery fee payments and consumers' free-riding tendencies simultaneously. This allows OFD platforms to extract online orders from highly price-conscious consumers.
Originality/value
This is one of the first studies to explore the innovative application of PWYW to a particular segment of delivery pricing in OFD platforms. The authors establish that the overall consumer surplus and social welfare are higher under the PWYW strategy, forming a solid ground for its implementation in OFD platforms.
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