1,721,037 research outputs found
Conflict Resolution. Risk-As-Feelings Hypothesis
Get PDFMathematical model of a goal-oriented thinking with feedback is described. Basic notions: decision graph, feed-back hierarchy and self-duality are introduced and explained. A source of the conflict in our approach is the ignorance about the importance of decision maker's goals. In contrast to Shar, Simonson & Tversky [4] and Deutsch [2] conflict resolution is modeled as a problem of finding a fixed point of a self-assessment operator, i.e. without adding or removing any decision element from decision hierarchy.multi-criteria decision making, duality, self-ranking, preference graph, potential method, risk-as-feeling model.
How Product Assortments Affect Buyer Preferences: Empirical Analysis of the Robustness of the Compromise Effect
Get PDFBehavioral research revealed that product assortments can influence buyer preferences and affect purchase decisions between options of a product line. In this article, the compromise effect is investigated according to which the share of a product is expected to increase when it is in an intermediate position in an assortment subset. Since most of the previous studies on the compromise effect used artificial designs that lack realism, a limited external validity of experimental findings is to be supposed. This is a drawback, especially when decisions about compositions of real product lines should be supported. Therefore, an enhanced experimental design is presented with subjects making unforced and binding choices between real brands, which is similar to regular purchase decisions. Although results of our studies prove robustness, the magnitude of the compromise effect is significantly reduced in such real marketplace scenarios hence notably influencing predictions of sales and profitability of product lines.Consumer Behavior; Compromise Effect; Consumer Preferences; Assortment Planning; Experimental Design; Choice in Context
Responsibility Effects in Decision Making under Risk
Get PDFWe systematically explore decision situations in which a decision maker bears responsibility for
somebody else's outcomes as well as for her own in situations of payoff equality. In the gain domain
we confirm the intuition that being responsible for somebody else's payoffs increases risk aversion.
This is however not attributable to a 'cautious shift' as often thought. Indeed, looking at risk
attitudes in the loss domain, we find an increase in risk seeking under responsibility. This raises
issues about the nature of various decision biases under risk, and to what extent changed behavior
under responsibility may depend on a social norm of caution in situations of responsibility versus
naive corrections from perceived biases. To further explore this issue, we designed a second
experiment to explore risk-taking behavior for gain prospects offering very small or very large
probabilities of winning. For large probabilities, we find increased risk aversion, thus confirming
our earlier finding. For small probabilities however, we find an increase of risk seeking under
conditions of responsibility. The latter finding thus discredits hypotheses of a social rule dictating
caution under responsibility, and can be explained through flexible self-correction models
predicting an accentuation of the fourfold pattern of risk attitudes predicted by prospect theory. An
additional accountability mechanism does not change risk behavior, except for mixed prospects, in
which it reduces loss aversion. This indicates that loss aversion is of a fundamentally different
nature than probability weighting or utility curvature. Implications for debiasing are discussed
notice, is given to the source. Equity Portfolio Diversification
No full textWe would like to thank K. Geert Rouwenhorst for helpful discussions and valuable comments. In addition, we would like to thank Itamar Simonson for making the investor data available to us and Terrance Odean for answering numerous questions about the investor database. The views expressed herein are those of the authors and not necessarily those of the National Bureau of Economic Research
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Responsibility Effects in Decision Making under Risk
Get PDFWe systematically explore decision situations in which a decision maker bears responsibility for somebody else's outcomes as well as for her own in situations of payoff equality. In the gain domain we confirm the intuition that being responsible for somebody else's payoffs increases risk aversion. This is however not attributable to a 'cautious shift' as often thought. Indeed, looking at risk attitudes in the loss domain, we find an increase in risk seeking under responsibility. This raises issues about the nature of various decision biases under risk, and to what extent changed behavior under responsibility may depend on a social norm of caution in situations of responsibility versus naive corrections from perceived biases. To further explore this issue, we designed a second experiment to explore risk-taking behavior for gain prospects offering very small or very large probabilities of winning. For large probabilities, we find increased risk aversion, thus confirming our earlier finding. For small probabilities however, we find an increase of risk seeking under conditions of responsibility. The latter finding thus discredits hypotheses of a social rule dictating caution under responsibility, and can be explained through flexible self-correction models predicting an accentuation of the fourfold pattern of risk attitudes predicted by prospect theory. An additional accountability mechanism does not change risk behavior, except for mixed prospects, in which it reduces loss aversion. This indicates that loss aversion is of a fundamentally different nature than probability weighting or utility curvature. Implications for debiasing are discussed.risk attitude; other-regarding preferences; prospect theory; agency; social norms
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Imperfect Progress: An Objective Quality Assessment of the Role of User Reviews in Consumer Decision Making, A Commentary on de Langhe, Fernbach, and Lichtenstein
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