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Purpose – We summarize three previous neuroeconomic studies with two features that distinguish them from most others in experimental economics: (1) the use of physical pain to induce incentives and (2) acquisition of data on brain activation levels. By correlating behavior when payoffs are painful with brain activation, we are able to test for the neurobiological relevance of important phenomena previously observed in experimental studies that are at odds with classical economic theories of decision-making. These specific phenomena are (a) negative discounting of future payoffs; (b) nonlinear probability weighting; (c) the experience of regret and rejoice when making a decision under risk.

Methodology/approach – The expectation of pain is created through the use of mild electric shocks to the top of the foot. Pain confers disutility, so decisions are made in the domain of losses relative to the status quo. Simultaneous with these decisions, brain activation data is acquired through functional magnetic resonance imaging (fMRI).

Findings – We find evidence for negative time discounting of electric shocks. Participants who exhibited the most extreme forms of this discounting were distinguished by early and robust activation of a subset of the cortical pain matrix. We also find evidence for probability weighting in the domain of electric shocks, which is manifest at the neural level. We find evidence both behaviorally and neurally for regret and rejoice functions for painful outcomes.

Originality/value of chapter – Previous experimental economic studies in the domain of losses have typically used monetary rewards. Here, we report behavioral effects and neural correlates using pain.

All sorts of distinctions can be made concerning prestige goods: for instance, between the most durable like precious stones passed down from generation to generation and the ephemeral ones, or between those which seem to exert a universal fascination, like gold and others valued only in some places. The question of borrowings and possible syncretism is also most appealing for the comparatist and countless illustrations could be given here. In many cases, prestigious goods must be studied by taking both their symbolic and practical value into consideration. What I mean is that a ‘Veblenesque’ approach only paying attention to them as status symbols tends to underestimate their functional dimension. For example, limousines or jets must certainly be analyzed in terms of attributes of power and status enhancement. However, one cannot deny that they also have concrete functions of ‘comfortableness’ and rapidity for ubiquitous elites bound to do extensive traveling. Normally, in modern democracies, top political actors inherit or acquire all kinds of prestigious public assets, but these must be returned at the end of their mandate. Even presents officially given to them are supposed to be surrendered to a public museum. The famous affair of Emperor Bokassa's diamonds offered to Valéry Giscard d’Estaing no doubt discredited the French President and contributed to his defeat in the 1981 elections.

The purpose of this research is to substantiate the processes of implementing the electronic forms of business integration under the conditions of digital transformation by market players.

The methods used in this research include cooperative game theory, systemic analysis and statistical analysis.

This research presents the substantiation of the processes of implementing the electronic forms of business integration under the conditions of digital transformation by market players. The proprietary methodology of evaluation of the set problems includes three procedures: analysis of the electronic forms of business integration that are used in the digital economy in the world, which envisages their systematisation; evaluation of the effectiveness of implementing the processes of business integration with the use of such forms and their forecast estimation under the condition of individual development of the market environment's players, as well as determination of advantages; and development of the practical implications for managing the electronic forms of business integration for the national companies of developing countries (with forecasting based on the cooperative game theory). The modern electronic forms of business integration include electronic cash (e-cash), electronic data interchange, electronic banking (e-banking), electronic marketing (e-marketing), electronic insurance (e-insurance) and electronic trade (e-trade). Analysis of the effectiveness of implementing the processes of business integration with the use of the electronic forms is performed based on electronic trade, which is used under the conditions of the functioning of digital trade platforms (Internet stores). Such digital trade platforms, as the forms of business strategies, are Amazon and eBay Inc. These two American companies were selected because the United States has the leading position in this sphere. The comparative analysis showed the advantages of participation of players in partnership with the use of electronic trade within two digital platforms, connected to cost saving on advertising and organisation of trade. The practical implications of implementing the electronic forms of business integration for the national companies of developing countries are also presented; they are formed based on the practice of implementing the advantages revealed in the activities of the digital trade platforms Amazon and eBay Inc.

The originality and value of this research are due to the further development of provisions on the specifics of the process of implementing the electronic forms of business integration under the conditions of digital transformation by market players.

This chapter explores the concept of allyship in social justice struggles. It provides a road map for self-reflection as well as acquisition of skills necessary for effective allyship. It describes appropriate roles for allies in dismantling systems and structures that protect the privilege of the majority in various contexts – privilege often unseen, unacknowledged and/or actively denied. This chapter will examine unique roles of allies in exposing, challenging, and dismantling privilege and white supremacy. Concrete examples of benefits that have accrued to white Americans through privilege – both conscious and unconscious, are assessed. The reader will be encouraged to explore personal areas of privilege and marginalization and acknowledge multidimensional identities (race, ethnicity, gender, class, ability, etc.) of individuals and unique lived experiences. Those seeking authentic positions of allyship are challenged to root out embedded privilege/white supremacy through direct action.

This chapter reports the findings of a large-scale study investigating the issues that arise when firms introduce a new Internet channel. Our analysis offers three key contributions. First, we provide a framework to guide firms in anticipating and understanding the unique challenges of introducing an Internet channel. Second, we present a menu of alternatives to address these challenges. Finally, we pose a series of questions which identify which solutions are most appropriate given the particular market and firm context.

The consumer behaviour literature is evolving towards the assumption that products are inherently experiential bundles, and after all, all businesses are operating within the experienced economy. Experiences are much more advantageous for the consumers because they advance happiness or enjoyment of life (instead of survival or maintenance). Experiential purchases lead to greater happiness levels compared to material purchases. Reliance on materialism and material purchases is shown to be the reason of low happiness levels in even the most affluent countries.

In this chapter, based on theoretical as well as empirical papers, I analyse experiences and the consumption of experiences in the Turkish context. The arguments are supported by up-to-date market analysis of related industries conducted by independent market research agencies. The first section looks at the rise of experientialism in retail industries, such as in the case of shopping malls. The following sections touch upon main experiential categories such as tourism, dining and sports. Finally, the social aspects of experiences are discussed in the context of third-place experiences, and some empirical findings are presented. The chapter concludes with some recommendations for practitioners, experience designers, service providers as well as researchers.