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Article
Publication date: 12 October 2012

Xiaojing Zheng, Xusong Xu and Cui Cui Luo

The purpose of this paper is to improve the behaviors coordination mechanism, to maintain the system's long time‐scale and stable competitive capability, when the agents in the…

Abstract

Purpose

The purpose of this paper is to improve the behaviors coordination mechanism, to maintain the system's long time‐scale and stable competitive capability, when the agents in the system focus on cooperating with each other.

Design/methodology/approach

Effort level for every agent, whose dynamics can be described as a stochastic partial differential equation, and the incentive of effort as the control of the corresponding agent, are introduced to describe agents' behavior abstracted. The cooperative stochastic differential game model is constructed: first, the optimal resolve trajectory mapping with profit maximization of the system are obtained, then the transitory imputation coupled with effort initial state of the system by introducing dynamic Shapley value imputation method. Based on the results obtained, the profit distribution strategies and the equilibration incentive compensation mechanism are given, due to the evolution law of the payoff and the state variable.

Findings

It is concluded that: the transitory compensation to agent for efforts and incentive, which can be changed with the system state at current and in history and in future changed, would guarantee the realization of the Shapley value imputation throughout the game horizon.

Originality/value

In this paper, the interactivity between agents in the system is considered first. The dynamical Shapley imputation mechanism and the transitory compensatory mechanism are provided to make the imputation more stable and feasible.

Article
Publication date: 1 February 1989

GORDON RICHARDS

This article examines the macroeconomic impact of a consumption‐based value‐added tax (VAT) using simulations of a large‐scale model. The VAT is imposed as a structural reform of…

Abstract

This article examines the macroeconomic impact of a consumption‐based value‐added tax (VAT) using simulations of a large‐scale model. The VAT is imposed as a structural reform of the tax code rather than as a revenue‐raising device, i.e., the revenues from the VAT are offset by compensatory reductions elsewhere. Three basic scenarios are examined, in which 1) the VAT is offset by individual rate reductions, 2) abolition of the corporate profits tax in conjunction with a small individual rate cut, and 3) an investment tax credit with the balance of the revenues offset by a personal rate cut. Additionally, this paper examines the effects of the microeconomic incidence of the VAT, i.e., whether it is fully passed through to output prices or shifted back onto profits. The finding is that the VAT in general raises the long‐term level of output, but at the cost of initial output losses, which are in evidence even when the associated rise in the price level is accommodated by a corresponding shift in monetary policy. In addition to changes in the intertemporal distribution of growth, there are significant changes in the composition of GNP, which shifts away from consumption, toward business fixed investment and net exports. These changes are particularly pronounced when the VAT is fully passed through. When the tax is partially shifted back, the gains in investment and trade are less marked, while business profits are reduced, and the long‐term increase in output is smaller.

Details

Studies in Economics and Finance, vol. 12 no. 2
Type: Research Article
ISSN: 1086-7376

Article
Publication date: 19 December 2019

Hongjing Cui, Taiyang Zhao, Slawomir Smyczek, Yajun Sheng, Ming Xu and Xiao Yang

The purpose of this paper is to examine the effect of self-worth on status consumption, focusing on the mediation of self-enhancement and self-compensation and the moderation of…

Abstract

Purpose

The purpose of this paper is to examine the effect of self-worth on status consumption, focusing on the mediation of self-enhancement and self-compensation and the moderation of power distance belief (PDB) in the relationship of threats to self-worth and consumer choice.

Design/methodology/approach

Experiments are used to collect data. Three studies are designed to test the relationship between self-worth, self-enhancement and self-compensation, PDB and status consumption. In total, 180 MBA students participate Study 1, 186 and 244 undergraduate students participate Studies 2 and 3, respectively. ANOVA and bootstrapping method are adopted to analyze the data by using SPSS version 19.0. Study 1 tests the influence of self-worth on status consumption; Study 2 examines the mediation role of self-enhancement and self-compensation; and Study 3 tests the moderation role of PDB.

Findings

Results indicate that situational self-worth perception has dual path effects on status consumption. Both improvements in – and threats to – self-worth have a positive impact on status consumption. Improvements in self-worth affect status consumption through the mediation of self-enhancement motives. Threats to self-worth affect status and non-status consumption through the mediation of the self-compensation motive. In the context of a threat to self-worth, compared with consumers with a low PDB, high-PDB consumers have higher purchase intention for status goods but not non-status goods.

Research limitations/implications

In this study, improvements in – and threats to – self-worth are momentarily manipulated. The authors present one product in each experiment, but what would happen if both status goods and non-status goods were shown to participants? Which one will the authors choose under different self-worth manipulations? And how long can the effects last? These questions should be answered in future research.

Practical implications

This research provides a venue for marketers to introduce and advertise status goods. Marketing practitioners should establish the link between self-worth and status consumption appeals. In the Asia-Pacific markets, Confucian value is important to consumers, and high power distance is important in Confucianism. Thus when developing markets in China, international companies should emphasize Confucian values in the design of advertisements or other promotional items. Further, marketing for status goods should attach importance to the expression of their symbolic meanings.

Originality/value

This study contributes to the literature on self-worth and status consumption. It also explores the dual path of the effect of self-worth on status consumption. The motives of self-enhancement and self-compensation are first proposed and tested to explain the mechanism, which differentiates the study from prior work and gives a more reasonable explanation for status and compensatory consumption. The moderation role of PDB delineates the boundary for the effect of a threat to self-worth on status consumption.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 32 no. 7
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 1 May 1997

Anghel N. Rugina

The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and…

3004

Abstract

The equation of unified knowledge says that S = f (A,P) which means that the practical solution to a given problem is a function of the existing, empirical, actual realities and the future, potential, best possible conditions of general stable equilibrium which both pure and practical reason, exhaustive in the Kantian sense, show as being within the realm of potential realities beyond any doubt. The first classical revolution in economic thinking, included in factor “P” of the equation, conceived the economic and financial problems in terms of a model of ideal conditions of stable equilibrium but neglected the full consideration of the existing, actual conditions. That is the main reason why, in the end, it failed. The second modern revolution, included in factor “A” of the equation, conceived the economic and financial problems in terms of the existing, actual conditions, usually in disequilibrium or unstable equilibrium (in case of stagnation) and neglected the sense of right direction expressed in factor “P” or the realization of general, stable equilibrium. That is the main reason why the modern revolution failed in the past and is failing in front of our eyes in the present. The equation of unified knowledge, perceived as a sui generis synthesis between classical and modern thinking has been applied rigorously and systematically in writing the enclosed American‐British economic, monetary, financial and social stabilization plans. In the final analysis, a new economic philosophy, based on a synthesis between classical and modern thinking, called here the new economics of unified knowledge, is applied to solve the malaise of the twentieth century which resulted from a confusion between thinking in terms of stable equilibrium on the one hand and disequilibrium or unstable equilibrium on the other.

Details

International Journal of Social Economics, vol. 24 no. 5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 February 1987

James Love

The issue of export instability exerts an enduring fascination for economists with an interest in the area of economic development. Over several decades a voluminous literature…

Abstract

The issue of export instability exerts an enduring fascination for economists with an interest in the area of economic development. Over several decades a voluminous literature has emerged embracing debates on the domestic consequences and on the causes of export instability. The purpose here is to examine these debates and an attempt is made to set out different theoretical stances, to classify and examine empirical findings, and to indicate the directions in which the debates have moved. Such a statement of a review article's purpose is, of course, incomplete without more specific delineation of the boundaries within which the general objectives are pursued. Here that delineation has three facets.

Details

Journal of Economic Studies, vol. 14 no. 2
Type: Research Article
ISSN: 0144-3585

Book part
Publication date: 1 January 2013

Thibault Daudigeos, Amélie Boutinot and Stéphane Jaumier

Institutional pluralism is an intriguing phenomenon for institutional scholars. How the balance among logics evolves within a field and what kind of trajectories a set of logics…

Abstract

Institutional pluralism is an intriguing phenomenon for institutional scholars. How the balance among logics evolves within a field and what kind of trajectories a set of logics may experience over a long-term period remain unclear. In particular, extant literature tends too often to downplay institutional complexity by focusing on two dominant logics, and to ignore modes of interaction among logics other than competition. In order to address these issues, we offer a novel methodology for measuring institutional complexity – multiple institutional logics and their change. In particular, we highlight the utility of descendent hierarchical classification models, and demonstrate their relevance by analyzing articles published in a leading French trade journal over more than 100 years to study logics related to workplace in the construction industry. We identify a pool of six field-structuring logics over a period of one century; they reveal the composite nature of such logics, which we characterize as combining several higher institutional orders. Additionally, our results bring to light new mechanisms that can explain the composition of institutional logics.

Book part
Publication date: 1 January 2013

Thibault Daudigeos, Amélie Boutinot and Stéphane Jaumier

Institutional pluralism is an intriguing phenomenon for institutional scholars. How the balance among logics evolves within a field and what kind of trajectories a set of logics…

Abstract

Institutional pluralism is an intriguing phenomenon for institutional scholars. How the balance among logics evolves within a field and what kind of trajectories a set of logics may experience over a long-term period remain unclear. In particular, extant literature tends too often to downplay institutional complexity by focusing on two dominant logics, and to ignore modes of interaction among logics other than competition. In order to address these issues, we offer a novel methodology for measuring institutional complexity – multiple institutional logics and their change. In particular, we highlight the utility of descendent hierarchical classification models, and demonstrate their relevance by analyzing articles published in a leading French trade journal over more than 100 years to study logics related to workplace in the construction industry. We identify a pool of six field-structuring logics over a period of one century; they reveal the composite nature of such logics, which we characterize as combining several higher institutional orders. Additionally, our results bring to light new mechanisms that can explain the composition of institutional logics.

Book part
Publication date: 9 September 2019

Bonnie Simpson, Madelynn Stackhouse and Katherine White

Although stress has become a prominent research theme in consumer behavior and occupational health, to the authors knowledge there is only one review on the relationship between…

Abstract

Although stress has become a prominent research theme in consumer behavior and occupational health, to the authors knowledge there is only one review on the relationship between consumer behavior and stress (i.e., when internal and external factors exceed an individual’s resources and endangering the individual’s well-being) and this was published 10 years ago. Further, research on occupational stress has yet to be fully integrated into the consumer stress literature. In this chapter, the authors attempt to advance research on consumer stress by a drawing on a satisfaction mirror framework which outlines that consumers and employees influence each other through a “mirror” where they positively and cyclically influence each other in a service environment. The authors argue that consumers and employees may likewise mirror each other in a negative cycle of stress and well-being depletion. First, the authors describe how stress is viewed in consumer behavior and marketing. Second, the authors review evidence that consumption serves as a form of coping with stress. Third, the authors discuss the role of consumption as a stressor that may drive consumer stress. Finally, the authors introduce the satisfaction mirror model and outline the bi-directional influence on increased stress and well-being depletion at the consumer–employee interface in service encounters. The model introduced in this chapter serves as a framework for organizing findings related to stress and well-being in the fields of consumer behavior and occupational health. In addition, the model serves as a springboard for developing propositions for future research. Ultimately, the authors hope this chapter both updates and builds upon previous findings on stress and consumer behavior, as well as grounds future research on stress and well-being at the intersection of consumers and employees.

Details

Examining the Role of Well-being in the Marketing Discipline
Type: Book
ISBN: 978-1-78973-946-6

Keywords

Article
Publication date: 6 July 2012

Grzegorz Cieslar, Justyna Malyszek‐Tumidajewicz, Pawel Sowa and Aleksander Sieron

The purpose of this paper is to estimate the influence of long‐term, whole‐body exposure of rats to strong, static electric field with physical parameters generated nearby high…

Abstract

Purpose

The purpose of this paper is to estimate the influence of long‐term, whole‐body exposure of rats to strong, static electric field with physical parameters generated nearby high voltage direct current (HVDC) transmission lines on the intensity of reactive oxygen species generation analyzed indirectly, basing on the measurement of malone dialdehyde level, as well as on the activity of enzymatic antioxidant defence system.

Design/methodology/approach

In rats exposed to static electric field with intensity of 16, 25 and 35 kV/m, respectively, or sham‐exposed eight hours daily for 56 days, in the obtained plasma, erythrocytes lysates and liver homogenates the activity of some antioxidant enzymes as well as the concentration of malone dialdehyde were determined with use of spectrophotometric and kinetic methods.

Findings

It was observed that long‐term exposure of rats to static electric field causes only temporary compensatory changes in the concentration of malone dialdehyde and transient changes in the activity of enzymatic antioxidant system, both in blood and in liver tissue in the form of temporary inhibition of activity of most antioxidant enzymes during exposure cycle, with subsequent compensatory increase in this activity after the end of exposure cycle, enabling maintenance of prooxidant‐antioxidant balance in the organism of experimental animals and inhibition of peroxidation process.

Practical implications

Presented data indicate that construction of air HVDC transmission lines, according to actual compulsory regulations, enables serious health hazards related to persistent disturbances of prooxidant‐antioxidant balance to be avoided.

Originality/value

In the experiment it was confirmed, for the first time, that long‐term exposure to strong static electric field causes transient compensatory changes of prooxidant‐antioxidant balance in living organisms.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 31 no. 4
Type: Research Article
ISSN: 0332-1649

Keywords

Article
Publication date: 1 February 1988

Anthony Clunies Ross

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the…

273

Abstract

The assignment of targets to instruments in developing countries cannot satisfactorily follow any simple universal rule. Which approach is appropriate is influenced by whether the economy is dominated by primary exports, by the importance of the domestic bond market and bank credit, by the extent of existing restriction in foreign exchange and financial markets, by the presence or absence of persistent high inflation, and by the existence or non‐existence of an active international market in the country's currency. Eighteen observations and maxims on stabilisation policy are tentatively drawn (pp. 64–8) from the material reviewed, and the maxims are partly summarised (pp. 69–71) in a schematic assignment, with variations, of targets to instruments.

Details

Journal of Economic Studies, vol. 15 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

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