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The purpose of this study is to investigate the presence of psychological barriers both in the main stock market indices of the Baltic states and the most actively traded individual stocks. A psychological barrier refers to a specific price point, often at round numbers (i.e. powers of 10), that investors believe is challenging to breach, influencing their behavior and trading decisions.

We conduct uniformity tests and barrier tests, such as barrier proximity tests and barrier hump tests, to evaluate the presence of psychological barriers. Additionally, we explore variations in means and variances near these potential barriers using regression and GARCH analysis.

The findings reveal that psychological barriers do exist in the Baltic stock markets, particularly within market indices. The Estonian market index stands out with the most pronounced indications of psychological barriers. Individual stocks also display significant changes in means and variances related to potential barriers, albeit with less uniformity.

Collectively, our findings challenge the traditional assumption of random returns within the Baltic stock markets. For practitioners, the finding that psychological barriers exist opens up opportunities for investment strategies that can capitalize on them.

This study is the first to comprehensively investigate psychological barriers in the Baltic stock markets. Our results provide a valuable contribution to understanding the impact of that phenomenon on pricing dynamics, which is particularly pertinent in less-researched frontier markets like the Baltic states.

Virtual goods consumption has risen dramatically in recent years. Recognizing the benefits of virtual goods in generating revenue for online game companies, marketers strive to understand the motives behind virtual goods purchases. We investigated the direct and indirect effects of functional, emotional, and social values through player satisfaction on purchase intention toward virtual goods among online players.

In total, we surveyed 332 online game players utilizing a structured questionnaire. We employed a multi-analytic approach combining partial least squares structural equation modeling (PLS-SEM) and necessary condition analysis (NCA) to examine the proposed relationships.

The findings show that all dimensions of value and player satisfaction significantly affect the intention to acquire virtual goods. However, social value does not exert a significant effect on player satisfaction. Moreover, we confirmed that player satisfaction mediates the relationships between functional value, emotional value, and purchase intention. Furthermore, NCA results indicated that all predictors in the model are necessary conditions of purchase intention for virtual goods.

These findings contribute to an enhanced understanding of purchase intentions among online game players from a symmetric (PLS-SEM) and asymmetric (NCA) perspective by proposing a multi-analytic approach.

The study aims to identify and understand the underlying behavioral tendencies and motivations influencing investor sentiments and examines the relationship between these underlying factors and investment decisions during the COVID-19-induced financial risks.

The study uses the primary data and information collected from 300 Indian retail equity investors using a nonprobability sampling technique, specifically purposive and snowball sampling. This research uses the insights from Phuoc Luong and Thi Thu Ha (2011) and Shefrin (2002) to delineate behavioral factors influencing investment decisions. Structural equation modeling estimates the causal relationship between underlying behavioral factors and investment decisions during the COVID-19-induced financial risks.

The study establishes that the “Regret Aversion,” “Gambler’s Fallacy” and “Greed” significantly influence investment decisions, and provide a comprehensive understanding of how psychological motivations shape investor behavior. Notably, “Mental Accounting” and “Conservatism” exhibit insignificance, possibly influenced by the unique socioeconomic context of the pandemic. The research contributes to 35% of variance understanding and prompts the researchers and policymakers to tailor investment strategies aligned to these behavioral tendencies.

The findings hold policy implications for investors and policymakers and provide tailored recommendations including investor education programs and regulatory measures to ensure a resilient and informed investment community in the context of India's evolving financial landscapes.

Theoretically, behavior tendencies and motivations have been strongly linked to investment decisions in the stock market. Yet, empirical evidence on this relationship is limited in developing countries where investors focus on risk management. To the best of the authors’ knowledge, this study is among the first to document the influence of underlying behavioral tendencies and motivation factors on investment decisions regarding retail equity in a developing country.

This study proposes a framework that demonstrates how the perceived value of augmented reality (AR) shopping influences the formation of psychological ownership of product and technology. The mediating role of flow experience and the moderating role of perceived control are identified.

An online survey study recruiting 480 participants who experienced AR shopping was conducted to test the hypotheses.

Functional value is negatively related to psychological ownership of product and technology whereas emotional value shows opposite effects. Flow experience mediates the relationships between functional/emotional value and psychological ownership of product and technology. Perceived control moderates the relationship between emotional value and flow experience, as well as the relationship between functional/emotional value and psychological ownership of product and technology.

The findings suggest the importance of AR’s functional and emotional values in developing psychological ownership of product and technology. To mitigate the negative effect of functional value, AR designers should focus on creating emotionally engaging apps that induce a flow experience, thereby enhancing psychological ownership. Furthermore, AR apps should be designed to empower users with a sense of control in the AR experience.

This research contributes to the AR and psychological ownership literature. It introduces a model that can explain both the formation of psychological ownership of product and psychological ownership of technology, thereby expanding the current understanding. By adding perceived values as antecedents of psychological ownership, it enriches the psychological ownership literature. Moreover, it enhances the flow experience literature by demonstrating the role of flow experience in the formation of psychological ownership of product and technology.

To examine the impact of manufacturer reputation, retailer reputation, and product price on consumers’ perceived quality and purchasing behavior regarding organic milk.

Employing a 2 × 2 experiment, data were collected from 1,259 consumers in 32 provinces in China.

When a low-reputation manufacturer sells products through a high-reputation retailer, it improves consumers’ perception of quality and positively influences their purchasing behavior. Interestingly, setting higher prices for products manufactured by low-reputation companies and selling them through high-reputation retailers did not significantly enhance consumers’ perceived quality and deter their purchasing behavior.

The analysis expands the framework for cue diagnosis. While the existing framework primarily focuses on the influence of cue-type combinations on perceived quality, it does not integrate purchasing behavior into the conceptual framework. This limitation hinders people understanding of the theoretical mechanisms underlying the use of cues in purchasing decisions. This paper address this by gradually introducing variables, such as retailer reputation and product price, into the baseline model, thereby extending this theory. In addition, this paper advances the marketing research literature within the business-to-business-to-consumer context by examining the additive effects of manufacturer reputation, retailer reputation, and product price on consumers’ perception of quality and purchasing behavior.

Although visual prototypicality in fashion is an observed phenomenon, empirical examinations of the link between fashion products' design prototypicality and consumer evaluations still need to be included. The present study analyzes the influence of the visual prototypicality of fashion products on consumer-perceived product values and brand preference.

An online survey adopting the fashion product images with significantly differing levels of visual prototypicality was used to collect data from 456 US consumers. The hypothesized relationships among visual prototypicality, product values and brand preference were analyzed through multi-group analysis.

Perceived visual typicality of fashion product designs significantly increased the hedonic and utilitarian value of the product and only indirectly increase brand preference. The hypothesized positive relationship between visual prototypicality and the product’s social value was found to be significant only in the low-price levels but became insignificant in the high-price levels.

The findings of this study contribute to the extant literature by first providing an initial analysis of the mechanism of visual prototypicality in the fashion product design field. The results confirm that visual prototypicality indirectly influences consumers' brand evaluations by the product’s perceived value. This relationship was previously assumed but not empirically proven only in non-fashion product categories. The study also presents additional new points, further enriching the understanding of visual typicality. Additionally, the results show the complex relationship between the visual prototypicality of fashion product designs and the perceived social value of the product, which varies depending on the price range.

Drawing upon a push-pull-mooring model and the literature on behavioral loyalty, this research aims to examine the underlying factors and mechanisms that influence switching intention in the context of professional sport in Japan.

Using a two-wave survey design (pregame and postgame surveys), we collected data from 367 fans of a professional soccer team in Japan. Our data included three push factors (quality, satisfaction, and perceived value of the current favorite team), a pull factor (alternative team attractiveness), a mooring factor (team identification), and behavioral loyalty and switching intention to the alternative team. We used structural equation modeling to test our hypotheses.

A mediation analysis revealed that perceived value of an individual’s current favorite team was negatively associated with behavioral loyalty to an alternative team, whereas attractiveness of the alternative team was positively associated with behavioral loyalty, which, in turn, resulted in fans’ switching intention. Latent moderated structural equation modeling further revealed the negative moderating effect of team identification with the current team on the relationship between behavioral loyalty and switching intention.

The findings provide new evidence about the role of behavioral loyalty in understanding sport consumers’ switching intention and highlight the importance of team identification that can foster a sustainable and long-term relationship between fans and their favorite sport teams.

This study combines perceived knowledge, perceived psychologic risk with Theory of Planned Behaviour (TPB) to examine the influence on tourists' intention to choose a safe destination and willingness to pay (WTP) more for safety measures. An online survey was conducted in 2021 to approach tourists globally. After 10 weeks, we received 365 valid responses. SmartPLS software version 3.3 was applied to run structural equation modelling to test the proposed hypotheses. Research results reveal that intention to choose a safe destination mediates the relationship between perceived knowledge of COVID-19, perceived psychological risk and the WTP more for safety measures while moderating role of educational level is also addressed. In turn, perceived psychological risk mediates the relationship between perceived knowledge of COVID-19 and intention to choose a safe destination. As a result, this study implies that destination managers should take actions to promote their WTP more for safety measures.

Different age groups display different shopping patterns in terms of how and where consumers buy products. During times of crisis, such behavioural differences become even more striking yet remain under-researched with respect to elderly consumers. This paper investigates the impact of age on retail-related behavioural changes and behavioural stability of elderly shoppers (in comparison to younger consumers) during a crisis.

The authors surveyed 643 Austrian consumers to assess the impact of perceived threat on behavioural change and the moderating effect of age groups. Based on findings from this survey, they subsequently conducted 51 semi-structured interviews to understand the causes of behavioural change and behavioural stability during a crisis.

Elderly shoppers display more stable shopping behaviour during a crisis compared to younger consumers, which is influenced by perceived threat related to the crisis. Such findings indicate that elderly shoppers reinforce their learnt and embedded shopping patterns. The causes of change and stability in behaviour include environmental and inter-personal factors.

Through the lens of social cognitive theory, protection motivation theory and dual process theory, this research contributes to an improved understanding of changes in shopping behaviour of elderly consumers, its antecedents and consequences during a time of crisis. The authors reveal reasons that lead to behavioural stability, hence the absence of change, in terms of shopping during a crisis. They further outline implications for retailers that might wish to better respond to shopping behaviours of the elderly.