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Article
Publication date: 3 March 2023

Anxia Wan, Qianqian Huang, Ehsan Elahi and Benhong Peng

The study focuses on drug safety regulation capture, reveals the inner mechanism and evolutionary characteristics of drug safety regulation capture and provides suggestions for…

Abstract

Purpose

The study focuses on drug safety regulation capture, reveals the inner mechanism and evolutionary characteristics of drug safety regulation capture and provides suggestions for effective regulation by pharmacovigilance.

Design/methodology/approach

The article introduces prospect theory into the game strategy analysis of drug safety events, constructs a benefit perception matrix based on psychological perception and analyzes the risk selection strategies and constraints on stable outcomes for both drug companies and drug regulatory authorities. Moreover, simulation was used to analyze the choice of results of different parameters on the game strategy.

Findings

The results found that the system does not have a stable equilibrium strategy under the role of cognitive psychology. The risk transfer coefficient, penalty cost, risk loss, regulatory benefit, regulatory success probability and risk discount coefficient directly acted in the direction of system evolution toward the system stable strategy. There is a critical effect on the behavioral strategies of drug manufacturers and drug supervisors, which exceeds a certain intensity before the behavioral strategies in repeated games tend to stabilize.

Originality/value

In this article, the authors constructed the perceived benefit matrix through the prospect value function to analyze the behavioral evolution game strategies of drug companies and FDA in the regulatory process, and to evaluate the evolution law of each factor.

Details

Kybernetes, vol. 53 no. 5
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 22 March 2024

Sreejesh S., Minas Kastanakis and Justin Paul

This study aims to examine the influence of two significant product labelling strategies (geographical indication [GI] vs country-of-origin [COO]) on shaping customer product…

Abstract

Purpose

This study aims to examine the influence of two significant product labelling strategies (geographical indication [GI] vs country-of-origin [COO]) on shaping customer product attitude and purchase likelihood, considering consumers’ ethnocentric and cosmopolitan tendencies. The authors also investigate the boundary conditions and intervening mechanisms to manage the adverse consumer product evaluations and present mitigating procedures which reinstate favourable product evaluations and purchase likelihood.

Design/methodology/approach

The collected data from these all these studies were analysed using ANOVA and mediation anlaysis. The study tests the proposed hypotheses using three follow-up experimental investigations.

Findings

The study found that GI (vs COO) labels have a more significant impact on customers’ product evaluation and likelihood of purchase and supported the dispositional effect of ethnocentric and cosmopolitan inclinations. Further, the results indicated that self-product congruence can efficiently regulate consumer dispositions. Also, the results confirmed the significant impact of product identification on influencing consumer attitudes.

Practical implications

The above-said insights add practical insights, particularly concerning product labelling. Also, the insights on product attitudes and purchase likelihood intricacies in the context of product labelling enable companies to comprehend better the significance of GI labels, COO labels and self-product congruence.

Originality/value

To the best of the authors’ knowledge, this is the first time a study has compared the role of two significant product labelling strategies (GI vs COO) in shaping customer product evaluations, confirmed its boundary conditions and shown how to transform them into helpful customer product outcomes.

Details

Journal of Consumer Marketing, vol. 41 no. 3
Type: Research Article
ISSN: 0736-3761

Keywords

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