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We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assumes CPT parameter values from prior studies. Our data are from laboratory experiments with undergraduate students and MBA students facing substantial real incentives and losses. We also estimate structural models from Expected Utility Theory (EUT), Dual Theory (DT), Rank-Dependent Utility (RDU), and Disappointment Aversion (DA) for comparison. Our major finding is that a majority of individuals in our sample locally asset integrate. That is, they see a loss frame for what it is, a frame, and behave as if they evaluate the net payment rather than the gross loss when one is presented to them. This finding is devastating to the direct application of CPT to these data for those subjects. Support for CPT is greater when losses are covered out of an earned endowment rather than house money, but RDU is still the best single characterization of individual and pooled choices. Defenders of the CPT model claim, correctly, that the CPT model exists “because the data says it should.” In other words, the CPT model was borne from a wide range of stylized facts culled from parts of the cognitive psychology literature. If one is to take the CPT model seriously and rigorously then it needs to do a much better job of explaining the data than we see here.

The purpose of this paper is to test the dual frames of reference theory. For the test, the reference point hypothesis examines whether the difference in the quality of social conditions between the home and host countries determines the variations of immigrants’ trust in the institutions of their host country.

By using hierarchical linear modeling analysis, the current study examines whether “difference of homicide rate from South Korea” or “difference of level of democracy from South Korea” influences immigrants’ confidence in the police. Using data collected from nine different immigrant groups in South Korea, the current study examined both country-level factors as well as individual-level factors.

According to the analysis results, the difference of level of democracy from South Korea significantly influenced immigrants’ confidence in the South Korean police. Specifically, when immigrants came from democratically under-developed countries, they showed a relatively high level of confidence in the South Korean police.

Confidence in the police among the first generation of immigrants has recently attracted increasing attention. However, no previous studies have examined immigrants’ confidence in the police within an Asian country. Thus, the current study might contribute to generating better police performances toward first-generation immigrants who tend to be discriminated against and are also vulnerable to various forms of victimization because of their new status in a new society.

This paper aims to propose an improved multifunctional control strategy for achieving real, reactive power flow control and the mitigation of power quality issues in grid integrated photovoltaic (GIPV) systems.

The paper proposes a dual stage, three phase, multifunctional GIPV system with modified instantaneous reactive power (IRP) theory-based and modified synchronous reference frame (SRF) theory-based control algorithms for reference template generation with continuous load power requirement tracking. The control structure is designed so as to impart virtual distribution static compensator functionality to the photovoltaic inverter. The dual mode operation in active filter and renewable power injection modes provides enhanced capability to the GIPV system. A comprehensive evaluation of the dynamic behaviour of the GIPV system is carried out for various conditions of irradiance and load under MATLAB/Simulink platform. The performance comparison is done considering an uncompensated system and the GIPV system with both proposed control algorithms.

The extensive simulation results demonstrate that the proposed modified SRF theory-based multifunctional control strategy shows superior performance in real and reactive power flow control; reduction in real and reactive burden of the utility grid; and regulation of dc bus voltage under varying scenarios of irradiance and load. Furthermore, there is improvement of grid power factor and reduction in total harmonic distortion of grid currents in compliance with the IEEE 519 standard even with highly non-linear loads at the point of common coupling.

The proposed modified SRF theory-based multifunctional controller offers a viable solution for power quality enhancement as well as the realization of effective real and reactive power flow control in GIPV systems. Thus, the penetration level of distributed generation can be increased in this era of global energy crisis.

Critiques the visions of management gurus in comparison to the measures which they offer to “deliver” them. Argues that organization development requires a qualitatively different look at workers and work going beyond behavioural prescription. Presents the concept of the new skills mix supported by arguments that integrate and develop more systematic analyses informed by frames of reference often regarded as mutually exclusive – this leads to a critical examination of proactivity and empowerment.

Phishing attacks are the most common cyber threats targeted at users. Digital nudging in the form of framing and priming may reduce user susceptibility to phishing. This research focuses on two types of digital nudging, framing and priming, and examines the impact of framing and priming on users' behavior (i.e. action) in a cybersecurity setting. It draws on prospect theory, instance-based learning theory and dual-process theory to generate the research hypotheses.

A 3 × 2 experimental study was carried out to test the hypotheses. The experiment consisted of three levels for framing (i.e. no framing, negative framing and positive framing) and two levels for priming (i.e. with and without priming).

The findings suggest that priming users to information security risks reduces their risk-taking behavior, whereas positive and negative framing of information security messages regarding potential consequences of the available choices do not change users' behavior. The results also indicate that risk-averse cybersecurity behavior is associated with greater confidence with the action, greater perceived severity of cybersecurity risks, lower perceived susceptibility to cybersecurity risks resulting from the action and lower trust in the download link.

This research shows that digital nudging in the form of priming is an effective way to reduce users' exposure to cybersecurity risks.

The purpose of this paper is to investigate the influence of price attribute framing and factors such as urgency and perceived price fairness on customer willingness to pay (WTP) in automated retail settings.

The authors conducted two sets of quasi-experimental scenarios surrounding vending-machine purchase decisions. The first set was analyzed with MANOVA, the second set with choice-based conjoint (CBC) analysis.

When prices are framed positively (as a discount), customer WTP is higher at high published price levels than it is for unframed or negatively framed prices. The effect on WTP holds whether the reference price range is broad (few large increments) or narrow (numerous small increments). In the CBC scenarios, immediate availability of the product was most influential on choice, followed by price and brand effects. These findings held under conditions invoking both urgency and price fairness. Providing an explanation for higher prices increases perceived price fairness.

Further study might assess the presence or absence of interaction effects in the conjoint scenarios.

Managers should consider transparency in dynamic pricing, particularly when the price change is outside the control of the firm. The conjoint scenario results also offer evidence that dynamic pricing will not impact other marketing-mix decisions for fast-moving consumer goods (FMCG) dramatically (availability at point of purchase and presence in the consumer consideration set remain strong influences on choice).

Understanding these effects on WTP could help managers manage perceptions of unfairness and optimize WTP.

A theoretical contribution from this study is that the immediate loss/gain consideration under theories of decision making under uncertainty outweigh considerations such as scarcity urgency or perceived unfairness. Use of conjoint analysis in WTP research, study of dynamic pricing in FMCG setting.

Purpose – The author introduces the Eastern philosophy of wisdom, especially its epistemology of Yin-Yang Balancing as the Eastern cognitive frame, to shed light on the debates over the distinction and integration between research and practice as well as between qualitative and quantitative methods so as to solve the problems of relevance-rigor gap as well as complexity-simplicity gap. The author also applies the frame of Yin-Yang Balancing to the development of a novel method of case study.

Methodology/Approach – This is a conceptual article.

Central theme – The Eastern philosophy of wisdom is better at an open-minded exploration of open-ended issues by emphasizing relevance and complexity, while the Western philosophy of science is better at a closed-minded exploitation of close-ended issues by emphasizing rigor and simplicity. A geocentric integration of both Eastern and Western philosophies is needed.

Research and practical implications – Management research is far behind the need for theoretical insights into practical solutions largely due to the increasing gaps between relevance and rigor as well as between complex problems and simple solutions. The root cause of the two gaps lies in the overreliance on the Western philosophy of science, so a new light can be found in the Eastern philosophy of wisdom, and the ultimate solution is a geocentric integration of Eastern and Western philosophies. A novel method of case study can be built by applying the Eastern philosophy.

Originality/Value – The author highlights the urgent needs for the Eastern philosophy of wisdom and its integration with the Western philosophy of science toward a geocentric meta-paradigm. As a specific application of the geocentric meta-paradigm, the author proposes a novel method of case study called Yin-Yang Method.

Light, when viewed as a particle, reacts in a determinable manner with reference to the gravitational potential existing within the reference frame viewed. The elementary quanta of light, expressed under the terms of Planck, and as derived via the expressions of Einstein as a particle, may not reach a speed exactly equating to the speed (electromagnetic) of light of c. Here c is viewed as an electromagnetic constancy in any gravitational frame of reference. The theory is that a relative particle of mass may not achieve the speed of light, for the energy of that particle would then equate to infinity or in that the force required allowing the relative particle to reach c would then be infinite. The theory is then totally reliant upon the tenants of what has become to be known as the Special Theory of Relativity. As per the General Theory, light would be “bent”, more or less, from one gravitational reference frame as compared to another gravitational reference frame. The theory then evolves that light, when viewed as a particle, forms a curvilinear light path through the gravitational reference frame viewed. However, until now, the light path has been solely described on a linear basis. It is the result of the theory that the light path may be described on a curvilinear basis, under the method of Lagrange. This method, or model, allows a particle of light (viewed as a projectile of mass under a constant velocity, therefore under a constant acceleration) to achieve Newton's description of the path of a projectile. Note that the following paper is applicable to a previous paper, which proposes a displacement of light within the gravitational field.

This study explores how balanced scorecard format and reputation from environmental performances interact to influence performance evaluations.

Two general options exist for inserting environmental measures into a scorecard: embedded among the four traditional perspectives or grouped in a fifth perspective. Prior balanced scorecard research also assumes negative past environmental performances. In such settings, and when low management communication levels exist on the importance of environmental strategic objectives (a common practitioner scenario), environmental measures receive less decision weight when they are grouped in a fifth scorecard perspective. However, a positive environmental reputation would generate loss aversion concerns with reputation, leading to more decision weight given to environmental measures. Participants (N=138) evaluated performances with scorecards in an experimental design that manipulates scorecard format (four, five-perspectives) and past environmental performance operationalizing reputation (positive, negative).

The environmental reputation valence’s impact is more (less) pronounced when environmental measures are grouped (embedded) in a fifth perspective (among the four traditional perspectives), when the environmental feature of the measures is more (less) salient.

Findings provide the literature with original empirical results that support the popular, but often anecdotal, position of advocating a fifth perspective for environmental measures to help emphasize and promote environmental stewardship within an entity when common low management communication levels exist. Specifically, when positive past environmental performances exist, entities may choose to group environmental performance measures together in a fifth scorecard perspective without risking those measures receiving the discounted decision weight indicated in prior studies.