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The purpose of this paper is to theoretically using two new models to analyze the effect of respondents’ uncertainty about their stated willingness to pay (WTP) on welfare estimates in the contingent valuation method (CVM) theoretically using two new models, and empirically to reveal consumers’ WTP to improve drinking water supply safety (WSS) in China.

In this paper, two alternative preference uncertainty treatment approaches are proposed to estimate consumers’ WTP theoretically and they are applied to China’s WSS improvement program from a payment card method, which depends on how consumers’ certainty level about their valuation is. Furthermore, four regression models are presented to investigate the determinants of consumers’ WTP.

Theoretically, the alternative approaches that proposed in this research can remove overestimation bias from traditional CVM method but with lower estimation efficiency. In addition, the empirical results of the uncertainty adjusted models show that the expected WTP to improve drinking WSS is from 0.55 to 0.56 Renminbi yuan/ton, which are lower than the estimates from the conventional standard CVM models. Consumers’ preferences for their concerns about WSS, attitudes toward WSS improvement programs, trusts in implement authorities and their knowledge of WSS have significant effects on the WTP for improving drinking WSS and on respondents’ uncertainty too.

Theoretically to the authors’ knowledge, it is the first attempt to compare alternative approaches to treat respondent uncertainty using numerical certainty scale combined with payment card format valuation questions in CVM. Empirically it is the first study at this large scale that investigates consumers’ WTP for improving drinking WSS incorporating with respondent uncertainty in China. In addition, to assess consumer preferences for improved drinking water safety and the sources of uncertainty, information on consumers’ attitudes toward WSS are considered at the first time.

This study examines how the distribution of opinions and social status combine in a collectively oriented task group to affect perceptions about the correctness of a final decision.

We relied on data from a controlled laboratory experiment to test a series of theoretically derived hypotheses.

The study shows that both the distribution of opinions and status affect perceptions of correctness. It also establishes that the effects of status on uncertainty are strongest when the group is initially evenly split about the correctness of an opinion, and that like the distribution of opinions, the effects of status on uncertainty are curvilinear.

Previous research shows that by integrating research on faction sizes with status characteristics theory (SCT), more accurate predictions of social influence are possible. Assumed therein is that people use information about the distribution of opinions and status to reduce uncertainty about correctness of a choice. The current study establishes this point empirically by examining the effects of the distribution of opinions and status in a four-person, collectively oriented task group. Future research should consider groups of different sizes and other moderating factors.

This study advances and elaborates upon previous research on social influence that integrates research on faction sizes with SCT.

Because of the significant differences in the features and requirements of specific products and the capabilities of various additive manufacturing (AM) solutions, selecting the most appropriate AM technology can be challenging. This study aims to propose a method to solve the complex process selection in 3D printing applications, especially by creating a new multicriteria decision-making tool that takes the direct certainty of each comparison to reflect the decision-maker’s desire effectively.

The methodology proposed includes five steps: defining the AM technology selection decision criteria and constraints, extracting available AM parameters from the database, evaluating the selected AM technology parameters based on the proposed decision-making methodology, improving the accuracy of the decision by adopting newly proposed weighting scheme and selecting optimal AM technologies by integrating information gathered from the whole decision-making process.

To demonstrate the feasibility and reliability of the proposed methodology, this case study describes a detailed industrial application in rapid investment casting that applies the weightings to a tailored AM technologies and materials database to determine the most suitable AM process. The results showed that the proposed methodology could solve complicated AM process selection problems at both the design and manufacturing stages.

This research proposes a unique multicriteria decision-making solution, which employs an exclusive weightings calculation algorithm that converts the decision-maker's subjective priority of the involved criteria into comparable values. The proposed framework can reduce decision-maker's comparison duty and potentially reduce errors in the pairwise comparisons used in other decision-making methodologies.

The paper aims to investigate the role of uncertainty avoidance (UA) as a moderator of Prospect Theory’s reflection effect (i.e. the simultaneous choice of a sure gain and a risky loss). We expect that higher-UA consumers, seeking certainty, will shun risk across both gains and losses such that their choices will be inconsistent with the reflection effect.

We report three studies in which participants choose between risk and certainty. We use the stimuli from the original Prospect Theory paper, measure UA using an individual-level scale and conduct controlled experimental (laboratory) studies.

We show that, compared to lower-UA consumers, higher-UA consumers demonstrate the reflection effect less frequently in a variety of settings (small/large stakes and within/between subjects comparisons). Mediation tests reveal that higher-UA consumers anchor on the sure loss and stay with their choice because they prefer the certainty of the sure (smaller) loss to the possibility of a possible (larger) loss (a dual-mediation mechanism).

The results have important implications for marketing practice. They show that quantifying uncertainty into a probability number is not enough to eliminate the uncertainty of the situation, and that UA is likely serve as a boundary condition to many of the traditional heuristics of judgment and decision-making.

This is the first paper to demonstrate that UA can moderate the reflection effect (using the stimuli in the original Prospect Theory paper). Therefore, it sets an agenda for future researchers who may want to use these findings to calibrate price/uncertainty tradeoffs within higher-UA segments.

Construction disputes can often be resolved using several techniques including: negotiation; mediation; dispute resolution boards; arbitration; and litigation. Negotiation is considered the most preferred technique due to the following facts: first it prevents litigation amongst project parties; and second it keeps a harmonious relationship between project participants. Further, negotiation saves the time, expenses and efforts that are associated with other resolutions techniques. The purpose of this paper is to provide a tool that is geared towards assisting construction contractors during negotiation process.

The framework consists of three modules; duration, certainty and intention. These modules capture the main characteristics of the negotiation process including: the expected claim duration in the case of litigation; certainty of litigation; and contactor's intention to make litigation. The paper also describes the characteristics of these three modules and their associated factors which have been determined based on interviews with claims' experts and questionnaire surveys. Analytical hierarchy process and utility theory are used to determine weights and utility values of attributes, respectively. Decision tree analysis is used to estimate the equivalent monetary value of litigation.

The framework calculates the lower threshold of a claim value with an average error of 12 per cent. A case study is presented to illustrate the practical use of the proposed framework and its ability to determine the minimum acceptable claim amount.

The knowledge of the framework was retrieved from the Egyptian construction industry. However, the utilized methodology can be applied to capture local contraction practices, law and politics in other construction industries.

This paper presents a framework that is developed to assist contractors in calculating the lower threshold of a claim value, which can be considered, during negotiation process with owners.

This study aims to discuss and test the combined role of perceived risk, objective knowledge and certainty as moderators in the satisfaction‐loyalty relationship.

The authors use survey data of 387 Vietnamese consumers in a food context. A structural equation modeling (SEM) approach for moderator analysis with latent constructs is used to test the hypotheses.

Perceived risk is a barrier in the forming of loyalty with a negative moderating effect on the satisfaction‐loyalty relationship. However, the satisfaction‐loyalty relationship is stronger when objective knowledge and certainty increase.

The object and setting are limited to one product category in one market. In addition, other moderators (e.g. situation and ambivalence) can be added. The nature of causality is problematic due to the use of survey design.

Customer management based on satisfaction is not sufficient to keep customers' loyalty, especially in the situations of highly perceived risk and uncertainty. Marketing strategies, which reduce consumers' risks, consolidate their confidence and educate them with relevant knowledge, may be effective strategies to increase their loyalty.

The study fills several gaps in the present literature. First, it overcomes some shortcomings of previous studies of moderators in the satisfaction‐loyalty relationship by testing the combined role of three important moderators. Second, it tests the moderator effect of objective knowledge and adds an extra explanation to previous studies. While some previous studies suggest a negative moderator effect of subjective knowledge, this paper argues for and confirms a positive moderator effect of objective knowledge on this relationship. Finally, it uses SEM for moderator analysis with latent constructs.

This study is an empirical examination of Australian auditors' interpretation of selected key uncertainty expressions such as virtual certainty, expected, reasonable assurance and possible, contained in Australian accounting and auditing standards. The results showed three major findings. First, auditors demonstrated a reasonably high degree of variability in the interpretation of uncertainty expressions. In view of the proliferation of uncertainty expressions within international and Australian accounting and auditing standards, this lack of consistency in interpretation of uncertainty expressions raises some serious concerns. Second, compared with the less experienced auditors, the more experienced auditors demonstrated greater variability in their interpretations of uncertainty expressions. Third, contrary to expectations, this study did not find any difference in judgements between auditors in big‐five and non‐big‐five firms. In aggregate, the findings of the study have implications for standard setting.