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Article
Publication date: 25 April 2022

Enav Friedmann, Merav Weiss-Sidi and Tiziano Vescovi

Past marketing research has found that hedonic utility is more important for Western cultures, whereas social utility is more important for Eastern cultures, suggesting…

Abstract

Purpose

Past marketing research has found that hedonic utility is more important for Western cultures, whereas social utility is more important for Eastern cultures, suggesting differential positioning in each culture. However, the research has so far focused on a single choice context of one brand. This paper aims to examine cultural differences in utility importance using two brand choice contexts: single choice and brand selection.

Design/methodology/approach

Four studies (n = 1268) were conducted. Study 1 focused on a single choice context by asking directly about utility importance when choosing a cellphone. Study 2 focused on a brand selection context using conjoint analysis for the same cellphone category used in Study 1. To validate the results of Studies 1 and 2 with the categories of perfume, sports shoes and computers, Study 3 analyzed single and selection contexts using latent regression methods. Finally, Study 4 explored the role of cognitive load in explaining the differences between the two choice contexts using the laptop category.

Findings

The analyses of the brand selection context, which simulates real-life choice, revealed that the importance ascribed to utilities was not idiosyncratic for each culture. In contrast, single-choice contexts demonstrated stereotypical cultural differences.

Originality/value

Positioning a specific utility message to fit the culture stereotype might not be necessary, as it does not always affect brand choice in a competitive environment.

Details

Journal of Product & Brand Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 7 April 2022

Ruizhi Yuan, Martin J. Liu and Markus Blut

This study aims to examine the impact of five consumption values (i.e. ecological, functional, symbolic, experiential and epistemic) on consumers’ intentions to adopt…

Abstract

Purpose

This study aims to examine the impact of five consumption values (i.e. ecological, functional, symbolic, experiential and epistemic) on consumers’ intentions to adopt green products. Using Thaler’s utility theory, the authors investigate the indirect effect of values on purchase intention through acquisition utility and transaction utility. Two moderators (materialism orientation and value consciousness) further influence the strength of the effect of consumption values on transaction utility.

Design/methodology/approach

The authors used a survey design (N = 437 Chinese customers recruited through a Chinese online panel provider) and structural equation modeling (SEM) to test six hypothesized relationships in the proposed model. Moderated SEM was used for moderation analysis.

Findings

Most hypothesized relationships in the model were confirmed, with the exception of the functional value–transaction utility link and the moderating effect of materialism on the experiential value–transaction utility relationship.

Research limitations/implications

Larger-scale research may help to determine whether there are more significant differences in consumer evaluations of different types of green products.

Practical implications

As the concept of green marketing in China evolves, firms should continue to stress the importance and value of green products regarding individuals’ care for the environment, status and self-image. Further, firms should conduct systematic utility analyses and address acquisition and price equity in a strategic process.

Originality/value

To the best of the authors’ knowledge, this study is the first to adapt utility theory to green consumption and proposes a clearly defined and well-substantiated set of utility types by merging economic and green consumption literature.

Details

European Journal of Marketing, vol. 56 no. 4
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 15 April 2022

Rahul Shrivastava, Dilip Singh Sisodia and Naresh Kumar Nagwani

In a multi-stakeholder recommender system (MSRS), stakeholders are the multiple entities (consumer, producer, system, etc.) benefited by the generated recommendations…

Abstract

Purpose

In a multi-stakeholder recommender system (MSRS), stakeholders are the multiple entities (consumer, producer, system, etc.) benefited by the generated recommendations. Traditionally, the exclusive focus on only a single stakeholders' (for example, only consumer or end-user) preferences obscured the welfare of the others. Two major challenges are encountered while incorporating the multiple stakeholders' perspectives in MSRS: designing a dedicated utility function for each stakeholder and optimizing their utility without hurting others. This paper proposes multiple utility functions for different stakeholders and optimizes these functions for generating balanced, personalized recommendations for each stakeholder.

Design/methodology/approach

The proposed methodology considers four valid stakeholders user, producer, cast and recommender system from the multi-stakeholder recommender setting and builds dedicated utility functions. The utility function for users incorporates enhanced side-information-based similarity computation for utility count. Similarly, to improve the utility gain, the authors design new utility functions for producer, star-cast and system to incorporate long-tail and diverse items in the recommendation list. Next, to balance the utility gain and generate the trade-off recommendation solution, the authors perform the evolutionary optimization of the conflicting utility functions using NSGA-II. Experimental evaluation and comparison are conducted over three benchmark data sets.

Findings

The authors observed 19.70% of average enhancement in utility gain with improved mean precision, diversity and novelty. Exposure, hit, reach and target reach metrics are substantially improved.

Originality/value

A new approach considers four stakeholders simultaneously with their respective utility functions and establishes the trade-off recommendation solution between conflicting utilities of the stakeholders.

Details

Data Technologies and Applications, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9288

Keywords

Article
Publication date: 1 September 1996

Paata Leiashvily

Suggests a new understanding of the category of economic value. According to this understanding, economic value is the unity of economic utility and economic costs…

515

Abstract

Suggests a new understanding of the category of economic value. According to this understanding, economic value is the unity of economic utility and economic costs. Interprets these categories of utility and costs as relative, and imminently implying one another. There exists a specific attitude of man towards the limited goods which are involved in his teleological activity. On the basis of this new understanding of economic value, attempts to give a new explanation of the law of increasing marginal costs, as the opposite form of manifestation of the law of diminishing marginal utility. Suggests an original interpretation of global and local criteria for optimum, and of an economic mechanism for comparison of costs and utility. Proposes many ideas which proceed from the teleological understanding of man’s activity and which are in harmony with the ideas and principles of econometrics.

Details

International Journal of Social Economics, vol. 23 no. 9
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 February 1996

CALVIN C. HOFFMAN

This case study describes an application of utility analysis to guide decisions regarding retention and operation of various selection system components (i.e., tests and…

Abstract

This case study describes an application of utility analysis to guide decisions regarding retention and operation of various selection system components (i.e., tests and interviews). Selection processes for two “high throughput” selection systems (Meter Reader and Customer Service Representative) were examined to improve cost effectiveness and reduce cycle time (time to produce qualified candidates). Based on utility outcomes and client considerations, the interview was retained with modifications in one selection process, and deleted from the other. Insights gained from gathering data needed to conduct the utility analysis helped guide further refinements of the selection systems in which the tests and interviews were applied, drastically reducing the time needed to fill open positions.

Details

Journal of Human Resource Costing & Accounting, vol. 1 no. 2
Type: Research Article
ISSN: 1401-338X

Article
Publication date: 1 April 1986

JONATHAN B. WELCH

Electric Utility Diversification and Efficient Capital Markets Over 60% of investor owned electric utilities have experimented with diversification into lines of business…

Abstract

Electric Utility Diversification and Efficient Capital Markets Over 60% of investor owned electric utilities have experimented with diversification into lines of business other than the traditional generation, transmission, and distribution of electricity. They diversify for a variety of reasons, but a primary goal is to improve their overall financial performance. Existing studies have found that diversified utilities outperform non‐diversified utilities. Measures of performance have included EPS growth, price‐earnings multiples, market‐book ratios and internal rates of return. However, many of these studies do not compare performance on a risk‐adjusted basis nor indicate whether differences are statistically significant. In contrast, this study compares performance using the efficient market hypothesis. Regression results indicate that there is no significant difference in risk between portfolios comprised of diversified utilities and non‐diversified utilities. Furthermore, no significant difference in return was observed. The performance of the two portfolios does not appear to differ in risk or return. These results tend to support the efficient market hypothesis concerning stockholders' inability to gain an advantage from publicly available information. Differences in company performance that are anticipated and already reflected in stock price do not result in differences in returns to stockholders.

Details

Managerial Finance, vol. 12 no. 4
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 1 February 1998

BRETT MYORS

An alternative method of utility analysis based on tenure, rather than dollar value performance, is presented. The standard deviation of employees' tenure with an…

Abstract

An alternative method of utility analysis based on tenure, rather than dollar value performance, is presented. The standard deviation of employees' tenure with an organisation becomes the individual differences parameter, rather than SDy, and mean dollar value performance (Y) provides the scaling onto dollars. Results suggest that the new model produces utility estimates that are not significantly different from the classic Brogden‐Cronbach‐Gleser model.

Details

Journal of Human Resource Costing & Accounting, vol. 3 no. 2
Type: Research Article
ISSN: 1401-338X

Article
Publication date: 1 February 1996

DANIEL V. LEZOTTE, NAMBURY S. RAJU, MICHAEL J. BURKE and JACQUES NORMAND

This study compared per selectee utility estimates for the job of medical claims examiner based on applications of the Brogden‐Cronbach‐Gleser (BCG) and Raju‐Burke‐Normand…

Abstract

This study compared per selectee utility estimates for the job of medical claims examiner based on applications of the Brogden‐Cronbach‐Gleser (BCG) and Raju‐Burke‐Normand (RBN) utility analysis models. The RBN model's per selectee utility estimate, based on a transformed observed performance rating standard deviation (σR), was closest to the per selectee utility estimate computed with an empirically‐derived σY value. The implications of these results for estimating human resource program utility are discussed.

Details

Journal of Human Resource Costing & Accounting, vol. 1 no. 2
Type: Research Article
ISSN: 1401-338X

Article
Publication date: 1 February 1996

WAYNE F. CASCIO

To many observers, the area of utility analysis appears disjointed, unfocused, and they wonder where it is going. Despite the fact that there is almost 20 years of…

Abstract

To many observers, the area of utility analysis appears disjointed, unfocused, and they wonder where it is going. Despite the fact that there is almost 20 years of experience with utility analysis since researchers brought it into the modern era, this approach to cost/benefit analysis has not caught on widely and it is not a standard procedure in the assessment of HR interventions. I argue that utility analysis remains an appropriate area of inquiry, but currently it suffers from three broad sets of problems: (1)from an applied research perspective there is often a failure to focus on critical, value‐adding activities that managers regard as relevant and important to their own success; (2) inability to communicate the results of utility analyses in a persuasive, credible manner to operating executives; and (3) technical problems, both theoretical and operational. In my view, none of these is insurmountable, but we must address each one in a systematic manner if the potential of utility analysis to help guide organizational decision making is to be realized in practice.

Details

Journal of Human Resource Costing & Accounting, vol. 1 no. 2
Type: Research Article
ISSN: 1401-338X

Article
Publication date: 22 March 2022

Peng Xing, Meixia Wang and Junzhu Yao

The paper aims to investigate the optimal service quality and pricing for a mobile application (App) service supply chain (SSC) and analyze the impact of network…

Abstract

Purpose

The paper aims to investigate the optimal service quality and pricing for a mobile application (App) service supply chain (SSC) and analyze the impact of network externality on App SSC members' utilities. After that, the corresponding management inspirations and suggestions are put forward.

Design/methodology/approach

The paper developed a SSC consisted of an App service supplier and an App service operator. Our models aim to maximize the SSC members' utilities. By utilizing the game theory, equilibrium solutions are obtained. Numerical examples are used to manifest the impact of parameters on decisions by Matlab. Some management enlightenment could be obtained by comparison analysis.

Findings

Cooperating with an App service operator that asks for a lower revenue sharing ratio will enable the App service supplier to have sufficient funds to provide high-quality update service. With the increase of network externality, adopting a high-quality service strategy can bring higher utility to the App service operator and users. Pouring attention into consumer welfare moderately will improve the App service supplier's utility. Scenario CRS can achieve a win–win goal for App SSC members and consumers.

Originality/value

The innovations of this paper are as follows: Firstly, the authors investigate the optimal service quality and pricing for the App SSC, which has been discussed little in previous literature. Secondly, the authors discuss how network externality and enterprises' attention to consumer welfare affect the optimal decisions and utilities of App service supply chain members. Thirdly, this paper considers four different circumstances and determines the optimal operation scenario for App SSC through comparative analysis.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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