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An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or…
An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or ‘frame’ (the statusquo bias). We utilize data from the Australian version of the TV game show, Deal or No Deal, to explore whether risk aversion varies with a change in reference point in a context where stakes are real and high.We achieve this by exploiting a special and unique Australian feature of the Deal or No Deal lottery‐choice setting, namely, the existence of the Chance or the SuperCase rounds (supplementary rounds). These rounds reverse the decision‐frame that was obtained in earlier (normal) rounds. We fit and estimate a complete dynamic decision‐making model to our dataset and find that the risk aversion estimate of contestants who participated in both the normal and the supplementary rounds indeed differs depending on the nature of the round, a result consistent with the operation of the existence of a framing effect.
In recent years, a growing number of libraries have canceled or unbundled their “Big Deal” journal subscriptions – those subscriptions that include a full package of…
In recent years, a growing number of libraries have canceled or unbundled their “Big Deal” journal subscriptions – those subscriptions that include a full package of digital journal titles for one discounted cost. This started as an affordability problem but has slowly morphed into a challenge from libraries demanding a new pricing structure that accommodates and spurs the growing open access movement.
The change has caused a variety of challenges for technical services units including the increased need for user data, increasingly complicated workflows as they manage partial subscriptions, new interactions with consortia, and ongoing campus conversations. Whether the library is seeking to simply unbundle due to budget constraints, or push for new models such as “read and publish”, there is a tremendous impact on the work of technical services units.
This chapter will explore the rationale and growth of the Big Deal, how it is breaking, four case studies on breaking Big Deals, a brief discussion of new transformative agreements, new challenges for consortia, and implications for technical services units moving forward.
U.S. industry–university (I–U) relations around intellectual property (IP) have become increasingly contentious since the Bayh-Dole Act of 1980, while especially lucrative…
U.S. industry–university (I–U) relations around intellectual property (IP) have become increasingly contentious since the Bayh-Dole Act of 1980, while especially lucrative patents and licenses resulting from biomedical and pharmaceutical discoveries capture the headlines. Some assert that I–U relations around IP are in crisis, others suggest that no such problem exists, and still others bemoan the “increasing commercialization” of U.S. education. This chapter develops a multi-level model of I–U IP dynamics, drawing on pluralistic, multi-theory perspectives, field interviews, and secondary data. The model includes three levels: the institutional (economy) level, I–U (sector) level, and the organizational level. These levels jointly affect the immediate context of any deal. The chapter closes with a discussion of this model's implications for further research and some theoretical speculations.
We review the use of behavior from television game shows to infer risk attitudes. These shows provide evidence when contestants are making decisions over very large…
We review the use of behavior from television game shows to infer risk attitudes. These shows provide evidence when contestants are making decisions over very large stakes, and in a replicated, structured way. Inferences are generally confounded by the subjective assessment of skill in some games, and the dynamic nature of the task in most games. We consider the game shows Card Sharks, Jeopardy!, Lingo, and finally Deal Or No Deal. We provide a detailed case study of the analyses of Deal Or No Deal, since it is suitable for inference about risk attitudes and has attracted considerable attention.
Information typically posted on group buying websites includes number of previous buyers, whether a limit has been placed on purchase number, and the time remaining until…
Information typically posted on group buying websites includes number of previous buyers, whether a limit has been placed on purchase number, and the time remaining until the deal expires. The purpose of this paper is to demonstrate that these factors may interact such that, under certain circumstances, purchase likelihood is reduced.
The paper first examines actual online data; the authors then follow this with a 2×2×2 experiment in which they demonstrate psychological process.
Providing previous‐buyer‐number information can have a positive effect on a consumer's decision to purchase at an online group buying website (e.g. Groupon). Imposing a purchase limit can increase these positive effects, but providing information on time‐to‐expiration (if it is relatively long) can negate the effects. Both perceived value and anticipated regret are found to be mediating factors.
It is possible that effects may be attenuated as a result of product familiarity.
Retailers should pay particular attention to the timing or pattern of purchases on group buying websites, and provide information accordingly.
This paper is the first to show how the three factors noted previously may interact to reduce purchase intentions.
The purpose of this paper is to identify the key antecedents of attitude towards electronic deals (e-deals) and factors influencing purchase intention of e-deals…
The purpose of this paper is to identify the key antecedents of attitude towards electronic deals (e-deals) and factors influencing purchase intention of e-deals. Specifically, perceived value and price consciousness will be tested as antecedents of attitudes towards e-deals. Attitudes towards e-deals, subjective norms, and perceived behavioural control are proposed to have strong influences upon purchase intention. The theory of planned behaviour (TPB) provides the theoretical underpinning of the conceptual framework.
Data were collected through convenience sampling. Overall, 611 valid responses of 780 distributed surveys were collected. Only 426 e-deals users were analysed by using structural equation modelling to test the hypotheses.
It is found that perceived value is a strong predictor of attitudes towards e-deals. Another finding also indicates that attitudes towards e-deals and normative influence positively affect consumers’ purchase intention towards e-deals.
Practitioners are advised to integrate social media (e.g. Facebook or Twitter) and online communities to approach the “leader” to influence new potential consumers to purchase e-deals. It is also important to maintain the good value of e-deals and emphasise the huge benefits of using e-deals to persuade consumers to purchase it.
The originality of this study lies in extending the TPB as a robust measurement to investigate online shopping behaviour in the context of e-deals.
Despite the increasing risk and the implications of a no-deal Brexit, Ireland and the EU remain united in support of the main issue preventing a Brexit deal, the backstop.
The study investigates how the congruence of online deal popularity and star rating influences service quality expectation in online group buying (OGB) websites. It also…
The study investigates how the congruence of online deal popularity and star rating influences service quality expectation in online group buying (OGB) websites. It also investigates the role of authenticity perceptions of online cues.
Two experiments are used to assess the effects of congruence between deal popularity and star rating on service quality expectation for service deals in an OGB website.
The findings suggest that a combination of congruently high deal popularity and high star rating has a stronger effect on expected service quality than a combination of congruently low cues. The findings further suggest that expected service quality is greater under the combination of high deal popularity and low star rating than the combination of low deal popularity and high star rating, showing the differences between incongruent cue combinations. The findings also show the moderating effect of consumer authenticity perceptions of cues on the expected service quality.
The novel contribution of the study is to extend cue congruence theory to explain how congruent online information cues and the consumers' authenticity perceptions of the cues influence consumers' judgment of online deals. The contribution is validated empirically in the context of OGB. The findings advance current knowledge concerning how consumers use online information cues.
The UK government has recently implemented the Green Deal, a new pay-as-you-save policy which seeks to fundamentally reform the existing housing stock to make it more…
The UK government has recently implemented the Green Deal, a new pay-as-you-save policy which seeks to fundamentally reform the existing housing stock to make it more energy efficient. Regarded by its proponents as a ‘revolutionary programme to bring our buildings up to date’ (HM Government 2010: 2), generate cash savings for householders, and simultaneously yield environmental benefits by reducing energy consumption, it promises much. However, there have been many critiques of the Green Deal from industry, environmental pressure groups and housing professionals. Moreover there has been very limited take up of Green Deal loans by householders, and those measures which have been installed offer perhaps only minimal improvements in overall energy efficiency. This paper therefore considers the potential generative and productive outcomes of the Green Deal by looking across three related issues: households with low incomes and in fuel poverty; the potential impacts on elements of the housing system; and, the extent of environmental benefits. The paper concludes by suggesting that the instead of being a revolutionary way to improve the energy efficiency of the UK’s domestic building stock, the Green Deal may potentially perpetuate existing social injustice and environmental degradation. The effort should, instead, focus on understanding how energy demand is created in the first place (e.g. desire for larger homes, energy-hungry appliances, heating in every room) through householders’ expectations and changing domestic practices.