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To minimize customer churn, many service providers offer consumers the option of automatic contract renewal at the end of a contract period. Such agreements are known as rollover service contracts (RSCs). This research quantifies the effect of RSCs and other related factors, such as incentives, on consumers' service choice decisions.

The study adopts choice-based conjoint analysis to assess the effect of RSCs on consumers' choices and to determine whether effect size varies when selecting a cell phone network or gym/leisure club provider, which represent lower-priced utilitarian and higher-priced hedonic services.

It was found that RSCs produce negative perceptions and intended behaviors for the majority of consumers across different product types. Nevertheless, as explained by social exchange theory, many individuals may be persuaded to enter into a RSC on the basis of reciprocity if they are offered an incentive such as a price discount or free product add-on.

In the marketing domain, this is the first comprehensive study to quantify the role of contract type among a range of other factors in consumers' decision-making when selecting a service. The authors' results offer context-specific implications for service marketers. First, RSCs are perceived more negatively in high-priced hedonistic categories, especially among those with lower incomes. Second, price discounts are more effective than product add-ons for motivating hedonic purchases, while product add-ons work better with utilitarian services.

Departing from conflicting findings on the role of involvement in the formation of the consideration set, the authors of this study seek to shed light to the wine consumer behaviour and expand previous findings in the bring-your-own-bottle (BYOB) of wine restaurant industry. The authors seek to determine the contradictory effect of involvement on the consideration set size and variety.

Three empirical studies were conducted. In Study 1, the relationships were tested in a personal consumption situation and in Study 2 in a gift-giving context. Finally, in Study 3, inconsistencies in the intensity of the hypothesised relationships were explored by testing the triple interaction amongst the three variables (i.e. involvement, decision-making context and decision domain).

According to the authors' findings BYOB of wine consumers form larger considerations sets in memory-based decision contexts. Involvement's effect on wine consideration set size is stronger in memory-based decisions. BYOB restaurant patrons form smaller sets of alternatives for personal consumption. BYOB restaurant patrons form more heterogeneous sets of alternatives in wine gift-giving. BYOB of wine restaurants should facilitate consumers' wine-selection process.

The authors make an effort to explain and determine the up-to-date contradictory effect of restaurant patrons' involvement on the BYOB of wine consideration set size and the amount of variety contained therein. The study offers new insights, by unfolding the moderating effect of decision-making contexts (i.e. memory-based versus stimuli-based) and decision domains (i.e. personal consumption versus gift-giving) on this effect of involvement on the properties of consideration sets.

This study aims to explore the opposite effects of single-category versus multi-category products information diversity on consumer decision making. Further, the authors investigate the moderating role of three categories of visitors – direct, hesitant and hedonic – in the relationship between product information diversity and consumer decision making.

The research utilizes a sample of 1,101,062 product click streams from 4,200 consumers. Visitors are clustered using the k-means algorithm. The diversity of information recommendations for single and multi-category products is characterized using granularity and dispersion, respectively. Empirical analysis is conducted to examine their influence on the two-stage decision-making process of heterogeneous online visitors.

The study reveals that the impact of recommended information diversity on consumer decision making differs significantly between single-category and multiple-category products. Specifically, information diversity in single-category products enhances consumers' click and purchase intention, while information diversity in multiple-category products reduces consumers' click and purchase intention. Moreover, based on the analysis of online visiting heterogeneity, hesitant, direct and hedonic features enhance the positive impact of granularity on consumer decision making; while direct features exacerbate the negative impact of dispersion on consumer decision making.

First, the article provides support for studies related to information cocoon. Second, the research contributes evidence to support the information overload theory. Third, the research enriches the field of precision marketing theory.

The purpose of this study to add to the body of knowledge by examining and discussing school choice trends through the perspective of rational choice theory. This qualitative research explores rationale behind the choice of government schools by middle-class parents in contemporary India. This research will also shed light on the features of the schools that parents consider while making school selection process. Finally, research focuses upon the process and context of decision-making and dynamics involved therein. In other words, the attempt is being made to understand what is the yardstick used by parents to differentiate “good” and “bad” school.

This qualitative research was conducted in two government (central and state) schools in Lucknow, India. The findings of the study are based on 22 qualitative interviews conducted with parents of school-going children, and principal or headmaster of the school. The interviews were unstructured and open-ended and were supported by observations. The observation was not only made of the social setting but also the reaction of the participants. The idea was to develop an emic view of the subject by exploring valid narratives. Pseudonyms were used to report the finding so as to maintain the confidentiality of the research subjects.

This research found that the majority of the parents chose school according to their social class, that is, the lower middle-class parents sent their wards to state government primary school, while the middle-class parents preferred to send their wards to central government school (Kendriya Vidyalaya). This study, therefore, lends credence to the contention that the middle class is a variegated social category and the dynamics of school choice vary across its subcategories. This lends credence to the contention that school choice decision is not solely a utilitarian choice and may be guided by emotion as well.

The originality of the research lies in the fact that the authors are extending the arguments made by the rational choice theory. The theory proposes that individual makes rational decisions motivated by self-interest and people look for the finest product or service and in pursuing them attempt to maximize their overall utility. Derivatively, Indian parents rationally make school choice decisions for their wards, gathering information and weighing various options and subsequently choose the “best” school for their children. This study moves beyond the prevailing perception that public schools offer low-quality education, and nobody attends such schools out of choice.

The purpose of this study is to analyse the internationalisation decision-making process using causation and effectuation.

The proposed hypotheses are tested with a survey data set of 148 Kenyan small and medium-sized enterprises (SMEs) to assess the pre-internationalisation decision-making of the firm. Multinomial logistic regression has been used to predict the categories from total effectuation to total causation.

The results of this study show that firm resources and capability provide a solid basis for firms' internationalisation. The entrepreneur becomes more effectual commence as they assess the firm's resource and capability. Entrepreneurs with a high entrepreneurial self-efficacy use both causation and effectuation with a bias towards effectuation. Increasing environmental predictability led the firms to use less effectuation, and increasing psychic distance entails high effectuation relative to high causation in the Kenyan context.

The sample choice of the category is Kenyan SMEs which may raise some questions. This study assumed that SMEs sampled had the same level of internationalisation experience regardless of the number of years in business.

This study theoretically advances the field of international business by combining the Uppsala internationalisation model with effectuation; this study defines four antecedents of decision-making to form its conceptual framework to study internationalisation decision-making approach for SMEs using the effectuation logic and adds to the stream of literature that has reviewed the factors that influence the internationalisation decision-making process for SMEs in developing countries.

This paper aims to study how retailers moving from a multi- (in-store and online) to a single- (online) channel impacts consumers’ retailer and channel choices.

The authors conduct two scenario-based experimental studies to examine consumers’ in-store and online channel shopping preferences and behavioural intentions (i.e. channel and retailer choices) when their preferred focal retailer’s physical store closes.

The findings show that when a focal retailer removes its physical store location, consumers with a strong preference for shopping online have a greater likelihood of shopping online. Their loyalty towards the retailer explains this relationship but is conditional on low levels of reactance. When reactance is high, consumers with a strong preference for shopping online are more likely to switch to a competitor.

This research paper bridges the intersection between B2B and B2C literature to understand how retailers’ channel-related supply chain decisions affect downstream consumer shopping behaviour.

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management activities and market efficiency. It also includes some of the research work on the origins and foundations of behavioral finance, and how this has grown substantially to become an established and particular subject of study in its own right. The study also aims to provide future direction to the researchers working in this field.

For doing research synthesis, a systematic literature review (SLR) approach was applied considering research studies published within the time period, i.e. 1970–2021. This study attempted to accomplish a critical review of 176 studies out of 256 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioral finance domain-related explicitly to cognitive heuristic-driven biases and their effect on investment management activities and market efficiency as well as on the origins and foundations of behavioral finance.

This review reveals that investors often use cognitive heuristics to reduce the risk of losses in uncertain situations, but that leads to errors in judgment; as a result, investors make irrational decisions, which may cause the market to overreact or underreact – in both situations, the market becomes inefficient. Overall, the literature demonstrates that there is currently no consensus on the usefulness of cognitive heuristics in the context of investment management activities and market efficiency. Therefore, a lack of consensus about this topic suggests that further studies may bring relevant contributions to the literature. Based on the gaps analysis, three major categories of gaps, namely theoretical and methodological gaps, and contextual gaps, are found, where research is needed.

The skillful understanding and knowledge of the cognitive heuristic-driven biases will help the investors, financial institutions and policymakers to overcome the adverse effect of these behavioral biases in the stock market. This article provides a detailed explanation of cognitive heuristic-driven biases and their influence on investment management activities and market efficiency, which could be very useful for finance practitioners, such as an investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making their financial management strategies.

Currently, no recent study exists, which reviews and evaluates the empirical research on cognitive heuristic-driven biases displayed by investors. The current study is original in discussing the role of cognitive heuristic-driven biases in investment management activities and market efficiency as well as the history and foundations of behavioral finance by means of research synthesis. This paper is useful to researchers, academicians, policymakers and those working in the area of behavioral finance in understanding the role that cognitive heuristic plays in investment management activities and market efficiency.

This research analyses the searching, interacting and purchasing behavior of shoppers seeking semidurable and fast-moving consumer goods in an immersive virtual reality (VR) store, showing how physical examinations and visual inspections relate to purchases.

Around 60 participants completed two forced-purchase tasks using a head-mounted display with visual and motor-tracking systems. A second study using a pictorial display of the products complemented the VR study.

The findings indicate differences in shopping behavior for the two product categories, with semidurable goods requiring greater inspection and deliberation than fast-moving consumer goods. In addition, visual inspection of the shelf and products was greater than a physical examination through virtual handling for both product categories. The paper also presents relationships between visual inspections and product interactions during the searching stage of purchase decisions.

The research consists of two types of implicit measures in this study: eye-tracking and hand-product interactions. This study reveals the suitability of implicit measures for evaluating consumer behavior in VR stores.

Strategic management plays a pivotal role in the growth and success of organizations, significantly impacting their business performance and competitive edge. In today’s globalized markets, strategic management is gaining prominence as a means to enhance company performance and distinctiveness. Within this landscape, the evaluation of organizational effectiveness takes on heightened significance, complemented by the emergence of strategic management frameworks designed to secure enduring competitive advantages for businesses.

One of the best known approaches to organizational resource assessment is the value, rarity, inimitability and organizational-oriented (VRIO) framework. However, this tool comes with inherent limitations that have hindered its advancement, primarily related to the need for less subjective means of identifying and assigning weights to resources and capabilities during the evaluation process. This study, therefore, endeavored to refine the VRIO framework, making it more transparent and empirically robust. To achieve this aim, the framework was combined with the decision-making trial and evaluation laboratory (DEMATEL) method (i.e. a multiple criteria decision analysis (MCDA) method), and a real-life application was conducted.

The evaluation system created was tested, and the results demonstrate that the dual methodology used can increase the understanding of resource appraisal and lead to more informed and potentially better evaluations of resources and capabilities. The strengths and shortcomings of this new structured evaluation model are also analyzed.

The authors know of no prior work reporting the integrated use of VRIO and DEMATEL in this study context.