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1 – 10 of over 4000Kishore Gopalakrishna Pillai and Charles F. Hofacker
Studies on consumer knowledge calibration have used different measures of calibration. The purpose of this paper is to undertake a comparative assessment of important measures. In…
Abstract
Purpose
Studies on consumer knowledge calibration have used different measures of calibration. The purpose of this paper is to undertake a comparative assessment of important measures. In addition, it seeks to identify the best performing measure.
Design/methodology/approach
The paper reports on three studies. The first study uses eight survey data sets. The second and third studies use experiments.
Findings
The study found that the Brier score component measure is most responsive to feedback and is the most suitable measure of knowledge calibration. The results also indicate that researchers should use measures that use item-level confidence judgements, as against an overall confidence judgement.
Research limitations/implications
By documenting the relationship between the different measures of knowledge calibration, the study enables proper interpretation and accumulation of results of various studies that have used different measures. The study also provides guidance to researchers in psychology and education where this issue has been noted.
Practical implications
The study provides guidance to managers in knowledge intensive industries, such as finance and insurance, interested in understanding their consumers’ knowledge calibration.
Originality/value
This is the first study in consumer research that examines this issue.
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Kishore Gopalakrishna Pillai, Michael Brusco, Ronald Goldsmith and Charles Hofacker
This paper aims to introduce knowledge discrimination to consumer research. It also examines the antecedent effects of objective knowledge and confidence in knowledge on consumer…
Abstract
Purpose
This paper aims to introduce knowledge discrimination to consumer research. It also examines the antecedent effects of objective knowledge and confidence in knowledge on consumer knowledge discrimination. Research in psychology has sought to distinguish between calibration and discrimination, two related skills in probabilistic judgments. Though consumer research has sought to examine knowledge calibration, the construct of knowledge discrimination has not attracted any attention.
Design/methodology/approach
The paper reports on three studies which use a cross-sectional design using a structured questionnaire. The hypotheses are tested using regression. In addition, the paper also reports the results of an experimental study.
Findings
The paper finds that the objective knowledge has a positive effect on discrimination. But confidence in knowledge does not have a consistent effect on discrimination. The paper also finds that feedback improves discrimination.
Research limitations/implications
The study adds a new dimension to the examination of metaknowledge and metacognitions in the consumer domain.
Practical implications
The study suggests some ways in which companies/government agencies can improve consumer knowledge discrimination.
Social implications
Knowledge discrimination is expected to reduce consumer vulnerability and enhance consumer competence.
Originality/value
This is the first study to examine knowledge discrimination in the consumer domain. Prior research has observed that there could be a trade-off between calibration and discrimination. Hence, the study of knowledge discrimination can inform the study of knowledge calibration.
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Christian Muntwiler and Martin J. Eppler
This article aims to explore the so-called illusion of explanatory depth (IOED) of managers regarding their understanding of digital technologies and examines the effect of…
Abstract
Purpose
This article aims to explore the so-called illusion of explanatory depth (IOED) of managers regarding their understanding of digital technologies and examines the effect of knowledge visualization one’s current understanding and decision making. Its purpose is to show that managers think they know more than they do and that this affects decision making but can be reduced through knowledge visualization.
Design/methodology/approach
In two experiments with experienced managers, the authors investigate the size and impact of the IOED bias in decision making and examine if sketched self-explanations are as effective as written self-explanations to reduce the bias.
Findings
The findings show that experienced managers suffer from a significant illusion concerning their explanatory understanding of digital technologies and that sketching one’s current level of explanatory understanding of these technologies supports the accurate calibration of one’s knowledge. The findings indicate that sketching knowledge is a helpful modality for the detection and subsequent recalibration of biased knowledge in domain-dependent decision making.
Originality/value
This article is the first to explore the effect of sketched knowledge externalization on the calibration of explanatory knowledge of managers. It extends the literature on both, the IOED and on knowledge visualization as an instrument of knowledge calibration.
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There is growing evidence that managers perceive the general environment inaccurately, but very few studies have looked at the accuracy of specific strategic issue probability…
Abstract
There is growing evidence that managers perceive the general environment inaccurately, but very few studies have looked at the accuracy of specific strategic issue probability estimates, and at whether or not managers are aware of the accuracy or inaccuracy of their perceptions, something referred to as knowledge miscalibration. I explore perceptual inaccuracy and knowledge miscalibration in the form of overconfidence, in the context of demographic ageing, an issue currently affecting the tourism and hospitality industry. Using data from a survey of hotel managers, I find a high prevalence of perceptual error and evidence of a relatively large minority of respondents displaying knowledge overconfidence. Furthermore, I find a link between accurate environmental perceptions and strategic issue importance, suggesting that managers are better at accurately perceiving an issue when it is strategically important for their business. The same link does not exist with overconfidence, lending support to scholars arguing that overconfidence may be a trait, rather than being question-specific.
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Elisa Garrido-Castro, Francisco-José Torres-Peña, Eva-María Murgado-Armenteros and Francisco Jose Torres-Ruiz
The purpose of this study is to critically review consumer knowledge in marketing and propose a future research agenda. Despite the many works that have examined this variable…
Abstract
Purpose
The purpose of this study is to critically review consumer knowledge in marketing and propose a future research agenda. Despite the many works that have examined this variable, given its strong influence on behaviour, it has generally been studied in association with other constructs, and no studies have focused on it in a specific way. Its definition, measurement and approaches to its role and usefulness are superficial and underdeveloped. After structuring and analysing the existing literature, the authors establish, (I) which aspects are of little use to the discipline, and (II) which research lines have the most potential and should be developed and studied in greater depth, to advance and complete the existing consumer knowledge framework.
Design/methodology/approach
A search was undertaken for documents in the main databases in which the term “consumer knowledge” appears in a marketing or consumer context, and a critical and reflexive approach was taken to analyse the main contributions and to structure them by content blocks.
Findings
Five main content blocks were identified. A set of research gaps were detected, mainly related to the lax conceptualisation of the topic, measurement problems and the scarcity of more useful works connected with business management, and several research lines are proposed that complement the existing framework to make it more complete and operational.
Originality/value
This paper offers a critical review and proposes a research agenda for one of the most used but little studied variables in the field of marketing, which may help academics and professionals in the discipline to continue developing useful theories and models.
Objetivo
El objetivo de este trabajo es revisar críticamente el conocimiento del consumidor en marketing y proponer una agenda de investigación futura. A pesar de los numerosos trabajos que han examinado esta variable, dada su fuerte influencia en el comportamiento, generalmente se ha estudiado en asociación con otros constructos, y ningún estudio se ha centrado en ella de manera específica. Su definición, medición y aproximaciones sobre su papel y utilidad son superficiales y poco desarrollados. Después de estructurar y analizar la literatura existente, establecemos (I) qué aspectos tienen poco uso para la disciplina y (II) qué líneas de investigación tienen más potencial y deben ser desarrolladas y estudiadas con mayor profundidad; para avanzar y completar el marco existente sobre conocimiento del consumidor.
Diseño/metodología/enfoque
Se realizó una búsqueda de documentos en las principales bases de datos en las que aparece el término “conocimiento del consumidor” en un contexto de marketing o consumo, y se adoptó un enfoque crítico y reflexivo para analizar las principales contribuciones y estructurarlas por bloques de contenido.
Resultados
Se identificaron cinco bloques principales de contenido. Se detectó un conjunto de huecos de investigación, principalmente relacionados con la laxa conceptualización del tema, problemas de medición y la escasez de trabajos más útiles conectados con la gestión empresarial; y se proponen varias líneas de investigación que complementan el marco existente para hacerlo más completo y operativo.
Originalidad
Este documento ofrece una revisión crítica y propone una agenda de investigación para una de las variables más utilizadas pero poco estudiadas en el campo del marketing, lo que puede ayudar a académicos y profesionales en la disciplina a continuar desarrollando teorías y modelos útiles.
目的
本文旨在对市场营销中的消费者知识进行批判性审视, 并提出未来的研究议程。虽然已有许多研究检验了该变量, 但由于其对行为产生强大影响, 通常会与其他结构变量一起研究, 而没有以特定方式专注于该变量。对其定义、测量以及其作用和用途的方法仍旧存在研究空白。通过对现有文献进行结构化分析后, 确定了以下两个方面:(I)哪些方面对该学科意义不大, (II)哪些研究方向最具研究潜力, 并且应该进一步深入发展和研究, 以推进和完善现有的消费者知识框架。
设计/方法/途径
通过主要数据库检索市场营销或消费者背景下涉及“消费者知识”一词的文献, 采取批判性和反思性方法来分析其主要贡献, 并通过内容块对其进行结构化。
发现
识别了五个主要内容块, 并发现存在一定程度的研究空白, 主要涉及该主题的概念松散化、测量问题以及与商业管理相关的有效研究的稀缺性。此外, 本文提出了几个研究线索, 这些线索为现有框架补充了信息, 使其更加完整且具备更强的操作性。
独创性
本文对市场营销领域中广泛使用但研究较少的变量进行了批判性评述, 并提出了相关研究议程。这一工作有助于学术界和专业人士继续发展实用的理论和模型。
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Smitha R. Nair, Kishore Gopalakrishna Pillai and Mehmet Demirbag
This paper aims to develop a conceptual model that examines the role of an individual’s confidence in the transferred knowledge in realizing benefits from such transfers. In so…
Abstract
Purpose
This paper aims to develop a conceptual model that examines the role of an individual’s confidence in the transferred knowledge in realizing benefits from such transfers. In so doing, the paper attempts to address the gap in the knowledge transfer (KT) literature pertaining to the inability of recipients to gain benefits from incoming transferred knowledge.
Design/methodology/approach
The conceptual model has been developed by drawing from the literature on socio-cognitive approaches by using psychological variables (individual-level differences in need for closure, regulatory focus and self-efficacy) and contextual factors that include the perceived novelty of knowledge and positive feedback from social interactions, which influence confidence in incoming knowledge.
Findings
The conceptual model builds on the socio-cognitive perspective and explores some of the important issues that could contribute to the individual’s adeptness (or lack thereof) in deriving benefits from transferred knowledge, thus addressing a vital gap in strategy and management literature.
Originality/value
The paper introduces the concept of confidence in knowledge to the KT literature, which could lend valuable insights pertaining to deriving benefits from transferred knowledge. In addition, by highlighting the role of important individual-specific constructs in determining the ability to gain benefits from KT, the paper makes a significant contribution to the stream of research on the micro-foundational bases of strategy. Finally, exploring perceived novelty as a knowledge attribute in this paper adds an interesting perspective to the individuals’ perception of the target knowledge quality and the resulting confidence in the incoming knowledge, which could in turn be moderated by individual differences.
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Markku Kaustia and Milla Perttula
The purpose of this paper is to measure overconfidence amongst finance professionals in domain relevant knowledge, and test for the impact of different debiasing methods.
Abstract
Purpose
The purpose of this paper is to measure overconfidence amongst finance professionals in domain relevant knowledge, and test for the impact of different debiasing methods.
Design/methodology/approach
The approach used was survey field experiments with varying debiasing attempts.
Findings
The subjects were overconfident in terms of probability calibration, better‐than‐average beliefs, and unfounded confidence. Debiasing attempts yielded mixed results. Explicit written warnings reduced better‐than‐average‐type of overconfidence. There was a further strong effect from attending lectures on investor psychology covering relevant examples. In contrast, there was only limited success in reducing miscalibration in probability assessments.
Research limitations/implications
Different types of overconfidence are distinct and respond differentially to debiasing. Future research on debiasing professional judgment should concentrate on testing in‐depth/personally engaging methods.
Practical implications
It is important for bankers to acknowledge the dangers of overconfidence. Correct confidence interval calibration is needed in order to have a sense of the risks involved in different asset allocation policies and trading strategies. Bankers should also be able to help their clients avoid overconfidence.
Social implications
Debiasing overconfidence in the finance industry likely carries public benefits. The results imply that this task is not easy, but not impossible either. The authors think further investment in this endeavor is justified.
Originality/value
Documenting an important judgment bias among finance professionals and estimating the effects of debiasing.
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Andrea Raymundo Balle, Mário Oscar Steffen, Carla Curado and Mírian Oliveira
This paper aims to uncover the combinations of knowledge sharing mechanisms that organizations in a science and technology park in Brazil use to share managerial and technical…
Abstract
Purpose
This paper aims to uncover the combinations of knowledge sharing mechanisms that organizations in a science and technology park in Brazil use to share managerial and technical knowledge.
Design/methodology/approach
This research adopts a qualitative approach that uses a fuzzy set qualitative comparative analysis to analyze data that are gathered from 51 managers of organizations in a science and technology park.
Findings
The results show that knowledge sharing happens regardless of the type of knowledge. There are more alternative paths that lead to knowledge sharing than to its absence. Regarding the type of knowledge shared, there are more alternative configurations that lead to managerial knowledge sharing than to technical knowledge sharing. Only the older organizations in the science and technology park abstain from knowledge sharing.
Research limitations/implications
Due to the qualitative nature of the study, no generalization is possible. Additionally, the study’s limitation is that it involves organizations from a single science and technology park.
Practical implications
The results offer managers of organizations in science and technology parks to choose from alternative combinations of mechanisms to either boost their knowledge sharing or to promote knowledge protection.
Originality/value
The paper provides an original contribution by identifying the combinations of mechanisms that organizations in a science and technology park use that leads to the sharing of specific knowledge types. The findings also identify the combination of mechanisms that older organizations use that prevents them from sharing knowledge.
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This study aims to develop a new general framework of the challenges for decision making in groups. Unlike most research focused on individual consumption, this study takes a…
Abstract
Purpose
This study aims to develop a new general framework of the challenges for decision making in groups. Unlike most research focused on individual consumption, this study takes a broader perspective on joint consumption.
Design/methodology/approach
The conceptual framework and the developed research questions are based on an extensive literature review.
Findings
This research identifies five major challenges for group decisions: allocation of responsibilities, preference prediction, preference aggregation, conflicts and mutual influences. For each challenge, this study summarizes existing findings and highlights important areas for continued investigation, related to a marketing-oriented understanding of consumers. This article concludes with implications for both managers and researchers.
Originality/value
The identified key determinants of group decisions aggregate findings from multidisciplinary literature and can help marketing researchers and managers understand the relevant but underresearched issues of decision making in groups. Furthermore, this study includes relevant moderators, such as individual and group characteristics, and reveals problematic research gaps. In turn, it offers questions and ideas for additional research.
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