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This study aims to compare customers’ perceived importance of various post-COVID-19 recovery strategies (i.e. sanitary practices, discounts, menu modification and marketing strategies) adopted by independent full-service restaurants (casual dining versus upscale/fine dining) using the salience theory. It also assesses the associations between customers’ perceptions and their restaurant spending patterns.

An online survey was administered to assess 657 US adult participants’ restaurant spending behaviors at different stages of the COVID-19 pandemic using recall questions. Higher-spending versus lower-spending participants’ perceived importance of restaurant recovery strategies were compared in the casual dining versus upscale/fine dining contexts.

Amid the COVID-19 pandemic, sanitary practices were the most important factor in participants’ restaurant choices, and it was more important for independent casual dining restaurants than for upscale/fine dining restaurants. No significant difference was found in participants’ perceived importance of sanitary practices across different geographic regions. Higher-spending diners (HSD) perceived almost every restaurant recovery strategy as important. Lower-spending diners (LSD) only considered sanitary practices as important.

This study identified important strategies that restaurant operators and public health officials can adopt to help full-service restaurants recover from pandemic losses.

This study differs from previous consumer choice studies; in that it compared HSD with LSD regarding their perceived importance of various restaurant recovery strategies. This study also provides new insights for understanding the salience theory of choice under the impact of COVID-19.

This study proposes a framework based on salience theory and shows that focusing on one type of risk (idiosyncratic or systemic) can explain overpricing of securities ex ante, and resales at low prices during crisis periods.

The author consider an overlapping generations (OLG) model where each generation lives for two periods and there is no population growth. Agents (investors) start their lives with an endowment W > 0 and have mean-variance utility. They invest their endowment when young and consume when old. Each period, the young investors optimally choose their portfolio from different risky assets acquired from the old generation, all assumed to be in fixed supply.

The author show that investor salience bias can explain excess volatility of asset prices and the resulting fire-sales in periods of financial turmoil. A change in salience – from one component (idiosyncratic) to the other (systemic) – will generate excess volatility. Interestingly, higher risk aversion generally exacerbates the excess volatility of prices. Moreover, the model predicts that if a big systemic shock hits the financial system, due to salience bias the price of systemic assets falls sharply. This relates to the observed fire-sales of assets during the global financial crisis.

The proposed model and results suggest that there may be a scope for intervention in financial markets during turbulences. In terms of ex ante policies the study suggests that investors and regulator should use better risk assessment technologies.

This is the first study constructing a tractable model based on the argument that investor salience may exacerbate the excess volatility of prices during financial downturns. The author relate salience to two types of risk; idiosyncratic and systemic and assume that investors' risk perception is biased towards the type of risk that is currently salient based on prior beliefs or past data. The author show that the diversification fallacy of the precrisis period, where seemingly safe assets were overpriced, can be explained by agents overweighing idiosyncratic risk and ignoring systemic risk.

The purpose of the study is to investigate differences between the perceptions of the Mayors and Chief Executive Officers (CEOs) of local government authorities (LGAs) with regards to the attributes of power, legitimacy and urgency of different identified stakeholder groups regarding their claims and needs concerning infrastructure assets. Stakeholder groups are categorised into those at the public level and those at higher-tier government level.

A survey of 420 LGAs throughout Australia was undertaken using an instrument developed from the constructs in Mitchell et al.’s (1997) theory of stakeholder identification and salience.

The results first reveal that there are more similarities than differences between the perceptions of the Mayors and CEOs with regard to stakeholder attributes of different stakeholder groups. Second, both Mayors and CEOs view stakeholders in infrastructure decision-making as largely “expectant dependant”. However, there is evidence that some biased priority may be accorded to the “public stakeholder” category over “higher-tier government” category because the CEO’s perception of the power of “public” stakeholders, together with the Mayor’s managerial values, is significantly positively related to their perceptions of the salience of these “public” stakeholders, but not “higher-tier government” stakeholders. However the results of the analysis change in the combined sample of the Mayor and CEO, making both categories of stakeholders as “definitive” in infrastructure decision-making.

The results of this study are subject to the usual limitation of mail surveys, including biases that can arise in respondents’ rating based on their perceptions. The findings have implications for the process of infrastructure decision-making in local governments.

This paper contributes to the literature, providing evidence on how Mayors and CEOs of local governments prioritise the needs, interests and claims of different stakeholders with respect to infrastructure assets.

This paper aims to investigate a condition under which identity salience effects are weakened. By examining how identity salience influences individuals’ product judgment in a domain of trade-offs, the current research demonstrates that the utilitarian value of a product is an important determinant of the effectiveness of identity salience on product judgment.

This research consists of two experiments. In Experiment 1, the authors examined whether identity salience effects were mitigated when the level of the perceived utilitarian value of an identity-incongruent product was greater than that of an identity-congruent product. In Experiment 2, the authors examined the effectiveness of internal attribution as a moderator that strengthens identity salience effects when the perceived utilitarian value of an identity-incongruent (vs. identity-congruent) product is higher.

In Experiment 1, the authors show that when the utilitarian value of a product with an attribute congruent (vs. incongruent) with one’s salient identity is lower, individuals do not show a greater preference for the identity-congruent (vs. identity-incongruent) product, mitigating the identity salience effects. Experiment 2 demonstrates that when individuals with a salient identity attribute a decision outcome to the self, they display a greater preference for the identity-congruent product even when its utilitarian value is lower compared to that of the identity-incongruent product.

The research contributes to previous research examining conditions under which identity salience effects are weakened [e.g. social influence by others (Bolton and Reed, 2004); self-affirmation (Cohen et al., 2007)] by exploring the role of the utilitarian value of a product, which has not been examined yet in prior research. Also, by doing so, the current research adds to the literature on identity salience in a domain of trade-offs (Benjamin et al., 2010; Shaddy et al., 2020, 2021). Finally, this research reveals that when a decision outcome is attributed to the self, identity salience effects become greater. By finding a novel determinant of identity salience effects (i.e. internal attribution), the present research contributes to the literature that has examined factors that amplify identity salience effects [e.g. cultural relevance (Chattaraman et al., 2009); social distinctiveness (Forehand et al., 2002); different types of groups (White and Dahl, 2007)].

The findings provide managerial insights on identity-based marketing by showing a condition under which identity-based marketing does not work [i.e. when the utilitarian value of an identity-congruent (vs. identity-incongruent) product is lower] and how to enhance the effectiveness of identity-based marketing by using internal attribution.

By exploring the role of utilitarian value, not yet examined in prior research, the present research adds to the knowledge of the conditions under which identity salience effects are weakened. Furthermore, by finding a novel determinant of identity salience effects (i.e. internal attribution), the research contributes to the literature on factors that amplify identity salience effects.

Expanding on the real-world financial market framework and considering the current market turmoil, with cryptocurrencies (where contracts for difference (CFDs) are extremely common) (Hasso et al., 2019) displaying unprecedented volatility, the authors aim to test in an online laboratory setting whether displaying a risk warning message is truly effective in reducing the level of risk taken and whether the placement of this method makes a difference.

To explore the impact of risk disclosure framing on risk-taking behavior, the authors conducted an online pair-wise lottery choice experiment. In addition to manipulating risk awareness through the presence or absence of risk warning messages of varying intensity, the authors also considered dynamic inconsistency, cognitive ability and questionnaire-based financial risk tolerance (FRT) scores. The authors aimed to identify potential relationships between these variables and experimentally elicited risk aversion. The authors' study offers valuable insights into the complex nature of risky decision-making and sheds light on the importance of considering dynamic inconsistency in addition to risk awareness and aversion.

The authors' results provide statistical evidence for the efficacy of informative and very salient messages in mitigating risky decision, hinting at several policy implications. The authors also provide some statistical evidence in support of the relationship between cognitive abilities and risk preferences. The authors detect that individual with low cognitive abilities scores display great risk aversion.

This study investigates the impact of risk warning messages on investment decisions in an online laboratory setting – a unique approach. However, the authors go beyond this and also examine the potential influence of dynamic inconsistency on decision-making, adding further value to the literature on this topic. To ensure a comprehensive understanding of the participants, the authors collect data on cognitive ability and FRT using questionnaires. This study provides a simple and cost-effective framework that can be easily replicated in future research – a valuable contribution to the field.

The purpose of this study develops and validates a model of new donor decision-making in the charity sector. Drawing upon dual process theory, the model incorporates brand salience and brand attitude as antecedents of brand choice intention, moderated by donor decision involvement.

Study 1 generates measures using interviews with marketing, media and research managers, and new donors from two international aid and relief organizations. Study 2 uses an experimental design to first test scenarios of disaster relief, and then validate and confirm a new donor decision model using large-scale consumer panels for the international aid and relief sector in Australia.

The results replicated across four leading international aid-related charities reveal that brand salience is positively related to brand choice intention through the mediating effect of brand attitude. Furthermore, the effect of brand salience on brand choice intention is significantly stronger when donor decision involvement is low. Conversely, the effect of brand attitude on brand choice intention is stronger for higher levels of donor decision involvement.

Managers should understand the importance of brand salience/attitudes and the implications for the communication strategy. Managers should also strive to understand the level of decision involvement and the relative influence of brand attitude/salience on brand choice intention.

This study advances the literature on charitable giving by proposing and testing a moderated mediation model of donor choice when selecting a charity for donation. Findings provide new insights into the extent to which brand salience, brand attitude and donor decision-making influence how new donors choose between charities for donation.

This paper synthesizes existing experimental research in the area of investor perceptions and offers directions for future research. Investor-related experimental research has grown substantially, especially in the last decade, as it has made valuable contributions in establishing causal links, examining underlying process measures, and examining areas with little available data. Within this review, I examine 121 papers and identify three broad categories that affect investor perceptions: information format, investor features, and disclosure credibility. Information format describes how investors are influenced by information salience, information labeling, reporting and accounting complexity, financial statement recognition, explanatory disclosures, and proposed disclosure changes. Investor features describes investors’ use of heuristics, investor preferences, and the effect of investor experience. Disclosure credibility is influenced by external and internal assurance, management credibility, disclosure characteristics, and management incentives. Using this framework, I summarize the existing research and identify areas that would benefit from additional research.

We review the experimental evidence on risk aversion in controlled laboratory settings. We review the strengths and weaknesses of alternative elicitation procedures, the strengths and weaknesses of alternative estimation procedures, and finally the effect of controlling for risk attitudes on inferences in experiments.

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior of E-payment systems that employ smart card technology becomes a research area that is of particular value and interest to both IS researchers and professionals. However, research interest focuses mostly on why a smart card-based E-payment system results in a failure or how the system could have grown into a success. This signals the fact that researchers have not had much opportunity to critically review a smart card-based E-payment system that has gained wide support and overcome the hurdle of critical mass adoption. The Octopus in Hong Kong has provided a rare opportunity for investigating smart card-based E-payment system because of its unprecedented success. This research seeks to thoroughly analyze the Octopus from technology adoption behavior perspectives.

Cultural impacts on adoption behavior are one of the key areas that this research posits to investigate. Since the present research is conducted in Hong Kong where a majority of population is Chinese ethnicity and yet is westernized in a number of aspects, assuming that users in Hong Kong are characterized by eastern or western culture is less useful. Explicit cultural characteristics at individual level are tapped into here instead of applying generalization of cultural beliefs to users to more accurately reflect cultural bias. In this vein, the technology acceptance model (TAM) is adapted, extended, and tested for its applicability cross-culturally in Hong Kong on the Octopus. Four cultural dimensions developed by Hofstede are included in this study, namely uncertainty avoidance, masculinity, individualism, and Confucian Dynamism (long-term orientation), to explore their influence on usage behavior through the mediation of perceived usefulness.

TAM is also integrated with the innovation diffusion theory (IDT) to borrow two constructs in relation to innovative characteristics, namely relative advantage and compatibility, in order to enhance the explanatory power of the proposed research model. Besides, the normative accountability of the research model is strengthened by embracing two social influences, namely subjective norm and image. As the last antecedent to perceived usefulness, prior experience serves to bring in the time variation factor to allow level of prior experience to exert both direct and moderating effects on perceived usefulness.

The resulting research model is analyzed by partial least squares (PLS)-based Structural Equation Modeling (SEM) approach. The research findings reveal that all cultural dimensions demonstrate direct effect on perceived usefulness though the influence of uncertainty avoidance is found marginally significant. Other constructs on innovative characteristics and social influences are validated to be significant as hypothesized. Prior experience does indeed significantly moderate the two influences that perceived usefulness receives from relative advantage and compatibility, respectively. The research model has demonstrated convincing explanatory power and so may be employed for further studies in other contexts. In particular, cultural effects play a key role in contributing to the uniqueness of the model, enabling it to be an effective tool to help critically understand increasingly internationalized IS system development and implementation efforts. This research also suggests several practical implications in view of the findings that could better inform managerial decisions for designing, implementing, or promoting smart card-based E-payment system.