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Article
Publication date: 4 May 2020

Rambod Dargahi, Aidin Namin and Seth Ketron

The purpose of this paper is to demonstrate how consumers choose among three different options offered by a firm in a monopolistic setting, namely, to buy a standard…

Abstract

Purpose

The purpose of this paper is to demonstrate how consumers choose among three different options offered by a firm in a monopolistic setting, namely, to buy a standard product with a non-customizable design, to ask the firm to customize a product using the consumer’s ideal design or to do the entire design task by themselves. The authors also investigate how social preference intensity and the possibility of reselling a product influence a consumer’s decision.

Design/methodology/approach

The authors develop an analytical (game theoretical) consumer choice framework and incorporate a psychological factor into the model. The authors also empirically validate the analytical findings using simulations.

Findings

The authors find that as social preference intensity increases, the number of co-producers can either decrease or increase. The authors offer a closed-form solution and interval graphs showing that when the setup price is large (small), the proportion of the market that chooses to do-it-yourself (DIY) is large (small) and an increase in social preference intensity leads to a decrease (increase) in co-production.

Originality/value

This is the first paper to incorporate a social factor into an economic model in a consumer behavior setting. It is also the first paper to explain how customers’ preferences among possible options, such as DIY (without the firm’s help), co-production (with the firm’s help) and a standard product might change while considering other people’s preferences, as well as given associated costs.

Details

Journal of Product & Brand Management, vol. 30 no. 2
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 12 February 2018

Duen-Ren Liu, Yun-Cheng Chou, Chi-Ching Chung and Hsiu-Yu Liao

Due to the rapidly increasing volume of users and products in virtual worlds, recommender systems are an important feature in virtual worlds; they can help solve…

Abstract

Purpose

Due to the rapidly increasing volume of users and products in virtual worlds, recommender systems are an important feature in virtual worlds; they can help solve information overload problems. Virtual world users are able to perform several actions that promote the enjoyment of their virtual life, including interacting with others, visiting virtual houses and shopping for virtual products. This study aims to concentrate on the following two important factors: the social neighbors’ influences and the virtual house bandwagon phenomenon, which affects users’ preferences during their virtual house visits and purchasing processes.

Design/methodology/approach

The authors determine social influence by considering the interactions between the target user and social circle neighbors. The degree of influence of the virtual house bandwagon effect is derived by analyzing the preferences of the virtual house hosts who have been visited by target users during their successive visits. A novel hybrid recommendation method is proposed herein to predict users’ preferences by combining the analyses of both factors.

Findings

The recommendation performance of the proposed method is evaluated by conducting experiments with a data set collected from a virtual world platform. The experimental results show that the proposed method outperforms the conventional recommendation methods, and they also exhibit the effectiveness of considering both the social influence and the virtual house bandwagon effect for making effective recommendations.

Originality/value

Existing studies on recommendation methods did not investigate the virtual house bandwagon effects that are unique to the virtual worlds. The novel idea of the virtual house bandwagon effect is proposed and analyzed for predicting users’ preferences. Moreover, a novel hybrid recommendation approach is proposed herein for generating virtual product recommendations. The proposed approach is able to improve the accuracy of preference predictions and enhance the innovative value of recommender systems for virtual worlds.

Details

Kybernetes, vol. 47 no. 3
Type: Research Article
ISSN: 0368-492X

Keywords

Content available
Article
Publication date: 18 October 2018

Nienke Hofstra, Wout Dullaert, Sander De Leeuw and Eirini Spiliotopoulou

The purpose of this paper is to develop propositions explaining the influence of individual goals and social preferences on human decision making in transport planning…

Abstract

Purpose

The purpose of this paper is to develop propositions explaining the influence of individual goals and social preferences on human decision making in transport planning. The aim is to understand which individual goals and social preferences planners pursue and how these influence planners’ decisions.

Design/methodology/approach

Propositions are developed based on investigation of decision making of transport planners in a Dutch logistics service provider using multiple data collection methods.

Findings

The study shows how decision making of transport planners is motivated by individual goals as well as social preferences for reciprocity and group identity.

Research limitations/implications

Further research including transaction data analysis is needed to triangulate findings and to strengthen conclusions. Propositions are developed to be tested in future research.

Practical implications

Results suggest that efforts to guide planners in their decision making should go beyond traditional (monetary) incentives and consider their individual goals and social preferences. Moreover, this study provides insight into why transport planners deviate from desired behaviour.

Originality/value

While individual decision making plays an essential role in operational planning, the factors influencing how individuals make operational planning decisions are not fully understood.

Details

International Journal of Operations & Production Management, vol. 39 no. 1
Type: Research Article
ISSN: 0144-3577

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Book part
Publication date: 17 March 2010

Linda Kamas and Anne Preston

This chapter investigates the relationship between heterogeneous social preferences and charitable giving under alternative prices of giving and types of subsidies. Using…

Abstract

This chapter investigates the relationship between heterogeneous social preferences and charitable giving under alternative prices of giving and types of subsidies. Using 10 allocation decisions, we categorize participants’ social preferences as self-interested, inequity averse, or social surplus maximizing. In subsequent charitable giving treatments, analysis of within-person decision-making gives support for several predictions consistent with social preference types: social surplus maximizers are most likely to give to a charity that increases production; inequity averters give more to charity than do other groups; all preference types give more when the price of giving declines; and social surplus maximizers are more responsive to the price of giving than are inequity averters.

Details

Charity with Choice
Type: Book
ISBN: 978-1-84950-768-4

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Article
Publication date: 10 September 2019

Gary L. Hunter and Steven A. Taylor

This paper aims to investigate whether preferences for certain types of privacy predict the frequency and duration of social media usage as well as the moderating role of…

Abstract

Purpose

This paper aims to investigate whether preferences for certain types of privacy predict the frequency and duration of social media usage as well as the moderating role of gender on these relationships.

Design/methodology/approach

An e-mail-based survey among the faculty, staff and students of a medium-sized mid-western university is used to gather data regarding preferences for privacy and social media usage. Using 530 respondents, structural equation modeling explores the relationship between the various privacy types, gender and social media usage.

Findings

Evidence supports a relationship between four types of privacy preferences and social media usage. A positive relationship exists between frequency of social media usage and a preference for not neighboring. Duration of social media usage shows a negative relationship with preferences for seclusion and reserve, and surprisingly, a positive relationship with a preference for anonymity. Gender moderates the relationship between preference for privacy and social media usage, offering evidence that intimacy, seclusion and reserve predict social media usage for males, while not neighboring and anonymity predict usage for females.

Originality/value

The study extends the privacy literature through investigating differential impacts of privacy preferences. The marketing literature examines privacy as a general concept, without allowing for differences in consumers' preferences for types of privacy. Additionally, the study shows that gender moderates the relationship between preferences for privacy and social media usage. A second contribution is investigating the relevance of a scale, developed in an age without social media, to an era permeated in social media.

Details

Journal of Consumer Marketing, vol. 37 no. 1
Type: Research Article
ISSN: 0736-3761

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Article
Publication date: 10 January 2018

Xiaoling Wu, Yichen Peng, Xiaofeng Liu and Jing Zhou

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for…

Abstract

Purpose

The purpose of this paper is to analyze the effects of private investor's fair preference on the governmental compensation mechanism based on the uncertainty of income for the public-private-partnership (PPP) project.

Design/methodology/approach

Based on the governmental dilemma for the compensation of PPP project, a generalized compensation contract is designed by the combination of compensation before the event and compensation after the event. Then the private investor's claimed concession profit is taken as its fair reference point according to the idea of the BO model, and its fair utility function is established by improving the FS model. Thus the master-slave counter measure game is applied to conduct the behavior modeling for the governmental compensation contract design.

Findings

By analyzing the model given in this paper, some conclusions are obtained. First, the governmental optimal compensation contract is fair incentive for the private investor. Second, the private fair preference is not intuitively positive or negative related to the social efficiency of compensation. Only under some given conditions, the correlation will show the consistent effect. Third, the private fair behavior’s impact on the efficiency of compensation will become lower and lower as the social cost of compensation reduces. Fourth, the governmental effective compensation scheme should be carried out based on the different comparison scene of the private claimed portfolio profit and the expected revenue for the project.

Originality/value

This study analyzes the effects of private investor's fair preference on the validity of governmental generalized compensation contract of the PPP project for the first time; and the governmental generalized compensation contract designed in this study is a pioneering and exploratory attempt.

Details

China Finance Review International, vol. 8 no. 1
Type: Research Article
ISSN: 2044-1398

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Book part
Publication date: 20 November 2018

Dorian Jullien

This chapter conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over…

Abstract

This chapter conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time, and regarding other people. A new perspective on two underlying methodological issues, i.e., inter-disciplinarity and the positive/normative distinction, is proposed by following the entanglement thesis of Hilary Putnam, Vivian Walsh, and Amartya Sen. This thesis holds that facts, values, and conventions have inter-dependent meanings in science which can be understood by scrutinizing formal and ordinary language uses. The goal is to provide a broad and self-contained picture of how behavioral economics is changing the mainstream of economics.

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Article
Publication date: 10 February 2021

Patrick Reichert, Matthew D. Bird and Vanina Farber

This study aims to examine gender differences in risk-taking and prosociality through a hypothetical labour market entry choice experiment.

Abstract

Purpose

This study aims to examine gender differences in risk-taking and prosociality through a hypothetical labour market entry choice experiment.

Design/methodology/approach

To explore differences between male and female subjects by risk levels and framing effects, a labour market entry choice task that manipulated risk conditions was administered to business school students whereby subjects chose between a managerial job at a company, starting a commercial business or starting a social enterprise. The experimental design isolated and tested the influence of the type of value creation, risk propensity and framing effects. The results were then statistically analysed to test for significant differences between the two gender groups.

Findings

Results indicate that in low-risk conditions women prefer the prosocial entrepreneurial option while men opt for purely commercial entrepreneurial activities. As risk increases, differences between men and women initially converge and then reverse under conditions of extreme risk, where men select the social entrepreneurial choice at a higher rate than women.

Research limitations/implications

The research was conducted within the single country context of Peru and carried out using a specific subset of potential entrepreneurs (i.e. business school students). Second and related, the experimental labour entry task was hypothetical. Whether decisions would hold if business school students faced an actual occupational choice remains open to further investigation.

Practical implications

The practical implication of the paper suggests that Peruvian business school students react differently towards potential labour market opportunities depending on their gender. Perhaps, because of gender biases common in the Latin American context, women appear to respond more positively to low-risk prosocial opportunities. However, as risk increases, contextual factors appear to become less important and reveal core sets of prosocially anchored men and commercially anchored women.

Originality/value

This research provides new insights into risk-taking and prosocial differences between men and women facing labour entry decisions, especially in a developing country context with strong gender norms, and is particularly useful to those with an interest in entrepreneurial propensity and in the identification and development of entrepreneurial women.

Details

Social Enterprise Journal, vol. 17 no. 1
Type: Research Article
ISSN: 1750-8614

Keywords

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Book part
Publication date: 14 December 2018

Daniel L. Chen

I propose a model of behavior in social interactions where individuals maximize a three-term utility function: a conventional consumption utility term and two “social”…

Abstract

I propose a model of behavior in social interactions where individuals maximize a three-term utility function: a conventional consumption utility term and two “social” terms that capture social preference. One social term is a taste for desert, which is maximized when the individual believes the other person is getting what they deserve. The second social term measures the target individuals’ anger or gratitude from the interaction which is determined by a value function derived from prospect theory. After introducing the model and generating a series of comparative statics results and derived predictions, I report the results of a series of quasi-field experiments on social preferences. I discuss how the model explains several paradoxes of empirical moral philosophy that are less explicable by current economic models of social preference focusing on outcomes and intentions.

Details

Experimental Economics and Culture
Type: Book
ISBN: 978-1-78743-819-4

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Abstract

Details

Economic Growth and Social Welfare: Operationalising Normative Social Choice Theory
Type: Book
ISBN: 978-0-44451-565-0

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