Testing the Role of Contextual Deliberation in the Compromise Effect

2021 ◽  
Author(s):  
Liang Guo
Keyword(s):  
Information Retrieval ◽  
Response Time ◽  
Context Information ◽  
Compromise Effect ◽  
Economic Theories ◽  
Task Order ◽  
Preference Construction ◽  
Endogenous Information ◽  
Classical Economic

Many phenomena of preference construction demonstrate a violation of the rationality premise in classical economic theories. One of the most well-known examples of preference construction is the compromise effect. This puzzling anomaly can be rationalized by contextual deliberation (i.e., endogenous information retrieval/acquisition that can partially resolve utility uncertainty before choice). In this research, we investigate the empirical validity of this explanation by performing falsification tests for its necessary predictions and identifying it from other potential accounts. We conduct five experiments with more than 1,000 participants and show that the compromise effect can be positively mediated by response time and cannot be eliminated by context information, but it can be moderated by manipulating the level of deliberation (i.e., time constraint, preference articulation, task order). These findings are consistent with the predictions of the theory of contextual deliberation. We also show that, on average, contextual deliberation (as proxied by response time) can uniquely account for about half of the total compromise effect. This paper was accepted by Yan Chen, behavioral economics and decision analysis

A Response Time Model on the Role of Spectral and Duration Cues in Vowel Perception

2014 ◽  
Author(s):  
Gabriel Tillman ◽  
Don van Ravenzwaaij ◽  
Scott Brown ◽  
Titia Benders
Keyword(s):  
Response Time ◽  
Time Model ◽  
Vowel Perception ◽  
Response Time Model

Theorizing Corporate Governance: Organizational Alternatives

2003 ◽  
Vol 14 (2) ◽  
pp. 159-173 ◽  
Author(s):  
Simon Learmount
Keyword(s):  
Corporate Governance ◽  
Distinctive Features ◽  
Economic Theories ◽  
Social Controls ◽  
New Research ◽  
The Way

In this paper I contrast ‘economic’ and ‘organizational’ approaches to corporate governance, in order to draw out some of their distinctive features and discuss their relative strengths and weaknesses. I identify some promising areas of new research that examine the role of social controls and trust for the way that companies are governed. Although these are fairly embryonic, I argue that they call into question the hegemony of economic theories in theorizing the governance of the corporation. I conclude by advocating a re-consideration and broadening of the current conceptual scope of corporate governance, so as to facilitate and encourage other potentially valuable ways of exploring and understanding how companies are governed.

The asymmetric contribution of consonants and vowels to phonological similarity

2017 ◽  
Vol 12 (3) ◽  
pp. 404-430 ◽  
Author(s):  
Rory Turnbull ◽  
Sharon Peperkamp
Keyword(s):  
Lexical Decision ◽  
Response Time ◽  
Lexical Access ◽  
Phonological Similarity ◽  
Lexical Competition ◽  
Lexical Priming ◽  
Precise Nature ◽  
Auditory Lexical Decision ◽  
Unrelated Condition

Abstract Lexical priming is known to arise from phonological similarity between prime and target, and this phenomenon is an important component of our understanding of the processes of lexical access and competition. However, the precise nature of the role of phonological similarity in lexical priming is understudied. In the present study, two experiments were conducted in which participants performed auditory lexical decision on CVC targets which were preceded by primes that either matched the target in all phonemes (CVC condition), in the first two phonemes (CV_ condition), the last two phonemes (_VC condition), the initial and last phonemes (C_C condition) or no phonemes (unrelated condition). Relative to the unrelated condition, all conditions except CV_ led to facilitation of response time to target words. The _VC and C_C conditions led to equivalent facilitation magnitude, while the CV_ condition showed neither facilitation nor inhibition. Accounting for these results requires appeal to processes of lexical competition and also to the notion that phonemes do not lend equivalent phonological similarity; that is, vowels and consonants are processed differently.

scholarly journals Not for Sale, but for Own Need”: Trade of the Volhynian Gentry in the Polish-Lithuanian Commonwealth in the Second Half of the 16th — First Half of the 17th Century

2021 ◽  
pp. 89-100
Author(s):  
Ihor Huliuk
Keyword(s):  
Early Modern ◽  
Western Europe ◽  
17Th Century ◽  
Early Modern Europe ◽  
Traded Goods ◽  
Classical Economic ◽  
Economic Nature ◽  
Eastern And Western Europe ◽  
General Criticism

The article analyzes socioeconomic processes in the early modern Europe, in particular trade in its separate regions. It considers the classical economic model focused on the industry and agriculture, which Eastern and Western Europe followed in their multifaceted development. It studies legislation, namely the Second Lithuanian Statute and the Sejm Constitutions for assessing the involvement of gentry representatives in commerce. It indicates that the activity of the Volhynian gentry in the internal trade of the Polish-Lithuanian Commonwealth was due to both external changes in the market, primarily the demand for products from Eastern Europe, and the tendency observed on the continent when running a household became a business that made incomes grow. It analyzes general criticism in the intellectual circles of the trade activity of the gentry as such, which could lead to a certain deterioration of traditions. Man-knight and man-merchant intersections in the society of that time were acceptable if a nobleman traded goods from his own estates and could prove it with an oath.The article also investigates key areas of trade of the Volhynian gentry in the Polish-Lithuanian Commonwealth on the basis of documentary material of court books of the 16th–17th-century Volhynia and previously published sources of economic nature. It studies main range of goods sold and bought by the representatives of the elite, observes the participation of the Volhynian gentry in trade operations with the core centers of the Polish-Lithuanian economy, and their involvement in local fairs and tradings. It shows the role of intermediaries, first of all representatives of the Jewish community and peasants from the gentry fоlwarks, in the trade enterprise of the gentry.

Il pensiero di Kenneth Boulding, economista irenico. Relazioni sociali tra scambio, dono e coercizione

2009 ◽  
pp. 5-30
Author(s):  
Raul Caruso
Keyword(s):  
Social Capital ◽  
Economic Development ◽  
Social Interactions ◽  
Informal Institutions ◽  
Relational Goods ◽  
Economic Theories ◽  
Economic Development And Growth ◽  
Formal And Informal Institutions

- The aim of this essay is the ‘triangular theory of social interactions as expounded by Kenneth Boulding. Rediscovering the theoretical reflections of Kenneth Boulding about social interactions is even more important nowadays when economists are emphasizing the role of both formal and informal institutions in economic development and growth. In fact, he pioneered the study of elements which are commonly considered in the economic theories of institutions, social capital, reciprocity and relational goods.

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