scholarly journals Using Self-Generated Priors in Division Leads to Biased Consumer Judgments

2021 ◽  
Author(s):  
Ignazio Ziano ◽  
Daniel Villanova
Keyword(s):  
Income Inequality ◽  
Willingness To Pay ◽  
Numerical Cognition ◽  
Product Choice ◽  
Product Attribute ◽  
Total N ◽  
Anchoring And Adjustment ◽  
Attribute Information ◽  
A Company ◽  
Practical Implications

Consumers often have to make divisions to evaluate attributes. In six experiments (total N = 3296, four preregistered), this research shows that consumers may rely on their prior for the attribute to generate an estimate rather than divide following a normative procedure. That is, consumers will recruit typical values of the attribute from memory and use them when dividing. This process influences consumers’ judgments. When the actual attribute value is above the attribute prior, it tends to be underestimated, and when it is below the attribute prior, it tends to be overestimated. When the attribute is a product attribute (such the miles-per-gallon a car can drive), this decreases its attractiveness. When the attribute is a company-wide attribute (such as median wage), this intuitive approach results in corresponding changes in company evaluations, willingness-to-pay, and product choice. The authors discuss theoretical implications for consumers’ numerical cognition, anchoring and adjustment, and perceptions of income inequality. Practical implications for the communication and disclosure of product attribute information and income inequality for managers and policymakers are also discussed.

scholarly journals People weigh Salaries More than Ratios in Judgments of Income Inequality, Fairness, and Demands for Redistribution

2019 ◽  
Author(s):  
Ignazio Ziano ◽  
Christophe Lembregts ◽  
Mario Pandelaere
Keyword(s):  
Income Inequality ◽  
Economic Inequality ◽  
Employee Compensation ◽  
Total N ◽  
Psychological Understanding ◽  
Fairness Judgments ◽  
Practical Implications ◽  
Joint Evaluation

Five experiments (total n = 2422, with U.S. American and French participants, four preregistered) show that people are more likely to use median salaries rather than CEO-median employee compensation ratios when making inequality and fairness judgments based on company compensation data. In separate evaluation of companies, we find no significant impact of compensation ratios, which express objective levels of income inequality, but a significant impact of median salaries. In joint evaluation, ratios have an impact, but median salaries have a bigger impact. Our results point to a difference between normative and actual inequality indicators: people do not perceive inequality based on a normative indicator of inequality (compensation ratios), but rather use representative workers’ salaries, and believe lower representative wages are connected to higher inequality. We discuss theoretical implications for the psychological understanding of economic inequality, and practical implications for the regulation of the presentation of compensation data.

Dave Snowden on KM and big data/analytics: interview with David J. Pauleen

2017 ◽  
Vol 21 (1) ◽  
pp. 12-17 ◽  
Author(s):  
David J. Pauleen
Keyword(s):  
Big Data ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Theory And Practice ◽  
Content Type ◽  
Face To Face ◽  
The Relationship ◽  
A Company ◽  
Practical Implications ◽  
Scientific Officer

Purpose Dave Snowden has been an important voice in knowledge management over the years. As the founder and chief scientific officer of Cognitive Edge, a company focused on the development of the theory and practice of social complexity, he offers informative views on the relationship between big data/analytics and KM. Design/methodology/approach A face-to-face interview was held with Dave Snowden in May 2015 in Auckland, New Zealand. Findings According to Snowden, analytics in the form of algorithms are imperfect and can only to a small extent capture the reasoning and analytical capabilities of people. For this reason, while big data/analytics can be useful, they are limited and must be used in conjunction with human knowledge and reasoning. Practical implications Snowden offers his views on big data/analytics and how they can be used effectively in real world situations in combination with human reasoning and input, for example in fields from resource management to individual health care. Originality/value Snowden is an innovative thinker. He combines knowledge and experience from many fields and offers original views and understanding of big data/analytics, knowledge and management.

What demographics matter for organisational culture, commitment and identification?

2020 ◽  
Vol 28 (1) ◽  
pp. 274-290
Author(s):  
Natalia Volkova ◽  
Vera Chiker
Keyword(s):  
Design Methodology ◽  
Organisational Culture ◽  
Employee Perceptions ◽  
International Studies ◽  
Content Type ◽  
Specific Finding ◽  
Public Organisations ◽  
A Company ◽  
Practical Implications ◽  
Demographic Effects

Purpose The purpose of this study to establish what demographic characteristics (gender, generations and organisational tenure) play a role in employee perceptions of organisational culture, commitment and identification in Russian public organisations. Design/methodology/approach The data were collected electronically from 248 employees of two public organisations. Three questionnaires were used. Findings Organisational tenure plays a central role in the way how employees perceive organisational culture; tenure also shapes the levels of both commitment and identification. The specific finding of Russian settings is that the longer employees work for a company, the lower the levels of psychological attachments they demonstrate, while it is not the case for some existing international results. The other findings correspond with those in international studies, in which women were more psychologically attached to the organisation and showed a higher level of identification and lower rates of negative forms of this concept than men did. The older the employees are, the higher the level of identification they express. Practical implications Managers working in Russian settings can struggle with engaging and retaining employees. Understanding the demographic effects can help alleviate these challenges. Originality/value Based on empirical findings, this paper contributes to the literature on organisational socialisation by providing evidence of the damaging effects of the length of organisational tenure on psychological attachment to the company (in the form of commitment and identification). Additionally, tenure is the shaping factor of employee perception of organisational culture.

SFC reminding sponsors of the need to adopt an attitude of “professional scepticism”

2017 ◽  
Vol 18 (3) ◽  
pp. 82-84
Author(s):  
Gareth Hughes ◽  
James Comber
Keyword(s):  
Hong Kong ◽  
Design Methodology ◽  
Regulatory Regime ◽  
Group Company ◽  
Content Type ◽  
Professional Skepticism ◽  
Company Limited ◽  
A Company ◽  
Practical Implications ◽  
Do So

Purpose To remind sponsors to adopt an attitude of “professional skepticism” in Hong Kong IPOs. Design/methodology/approach Explains the Securities and Futures Commission (“SFC”)'s sanction on BOCOM International (Asia) Limited (“BIAL”) as a sign of determination to hold sponsors to account as gatekeepers to the Hong Kong capital markets. Findings The SFC has reprimanded and fined BIAL HK$15 million for failing to discharge its duties as a sole sponsor in a listing application for China Huinong Capital Group Company Limited (“China Huinong”), a company established in the PRC. This substantial fine reinforces the need for sponsors to ensure that they fully and properly discharge all of their duties, and that they will be held responsible for any failure to do so, even if the listing is not ultimately approved. Practical implications If sponsors fail to fulfil the requirements required under the sponsors’ regulatory regime, the SFC will be proactive and impose tough sanctions, even if the listing application is eventually withdrawn or returned by the SEHK. Originality/value Practical guidance from experienced regulatory, financial and commercial dispute resolution lawyers.

Hijabista willingness to accept premium pricing: an analytical study of the effect of social and self-identity on hijab fashion brands satisfaction

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alshaimaa Bahgat Alanadoly ◽  
Suha Fouad Salem
Keyword(s):  
Willingness To Pay ◽  
Product Design ◽  
Consumer Satisfaction ◽  
Willingness To Accept ◽  
Fashion Industry ◽  
Content Type ◽  
Self Identity ◽  
Fashion Products ◽  
Practical Implications ◽  
Brand Satisfaction

Purpose This paper aims to study the predictors influencing hijabista satisfaction towards Hijab fashion brands and their willingness to pay premium pricing as fashion consumers. The effects of product design, product quality, social and self-identity have been studied in relation to product, and brand satisfaction is believed to have led to acceptance of premium pricing. Various factors have been studied and analysed to provide a better understanding of Hijab fashion consumer behaviour. Design/methodology/approach Data were collected by using online structured surveys distributed within the area of Shah Alam City in Malaysia. Convenience sampling was used in defining the 223 target respondents, and the collected data was analysed using Smart-PLS Software. Findings The results highlighted that product design has the largest influence on the willingness of hijabistas in paying premium prices, followed by products that reflect their social-identity while communicating their religious obligations and commitments. Communicating one’s self-identity was also found not to have a significant impact which relates to the importance of the religious and social commitments on hijabista purchasing choices rather than their own self-conceptual image. Practical implications This paper provides insights on the factors that affect hijabista satisfaction towards Hijab fashion products and brands. Conclusions provided are very relevant to the practices of the fashion industry, and in particular, for designers to understand the needs of this large and significant segment of the fashion market. Originality/value Hijab fashion is a growing segment in the fashion industry, and it has been gaining recent global attention. Designers need to be more aware of the requirements of this segment of the fashion market. This research focusses on Hijab consumer satisfaction and how this reflects their willingness to pay premium prices for chosen products and brands. Factors such as product design and quality, along with social and self-identity, were studied in connection with hijabista willingness to accept premium pricing. Such connections and terms have not been covered in previous literature.

scholarly journals HOW DOES CRYSTAL KNOW? FOLK THEORIES AND TRUST IN PREDICTIVE ALGORITHMS THAT ASSESS INDIVIDUAL PERSONALITY AND COMMUNICATION PREFERENCES

2019 ◽  
Vol 2019 ◽  
Author(s):  
Tony Liao
Keyword(s):  
Qualitative Interviews ◽  
Personality Profiles ◽  
Communication Preferences ◽  
Individual Personality ◽  
Predictive Algorithms ◽  
Explicit Consent ◽  
The World ◽  
Folk Theories ◽  
A Company ◽  
Practical Implications

In recent years, there has been a rise in predictive algorithms that focus on individual preferences and psychometric assessments. The idea is that an individual social media presence may give off unconscious cues or indicators of a person's personality. While there has been a growing body of research into people's reactions, perceptions, and folk theories of how algorithms work, there has been a growing need for research into these hyper-personal algorithms and profiles. This study focuses on a company called CrystalKnows, which purports to have the largest database of personality profiles in the world, many of which are generated without an individual's explicit consent. Through qualitative interviews (n=31) with people after being presented with their own profile, this study explores how people perceive the profiles, where they believe the information is coming from, and what contexts they would be comfortable with their profile being used. Crystal profiles also contain predictions about how people will communicate and potentially work together in teams with people of other personality dispositions, which also raises concerns about inaccurate assessments or discrimination based on these profiles. The findings from this study and how people rationalize these algorithms not only builds on our understanding of algorithmic perception and folk theories, but also has important practical implications for the trust in these systems and the continued deployment of hyper-personal predictive algorithms.

Self-concept, product involvement and consumption occasions

2017 ◽  
Vol 119 (6) ◽  
pp. 1362-1377 ◽  
Author(s):  
David Roe ◽  
Johan Bruwer
Keyword(s):  
Positive Association ◽  
Self Esteem ◽  
Self Concept ◽  
Purchase Decision ◽  
Product Choice ◽  
Product Involvement ◽  
Content Type ◽  
Store Environment ◽  
Practical Implications ◽  
Sydney Australia

Purpose The purpose of this paper is to examine the extent to which consumer self-concept (self-esteem) and product involvement influences the wine purchase decision at the retail level given the anticipated consumption occasion. The predictive effects of self-concept on this interaction were also explored. Design/methodology/approach Data collection was in the independent specialist fine wine store environment in Sydney, Australia. Central to the study was the development of a 33-item multi-dimensional fine wine involvement scale (Cronbach’s α =0.846 for 26 final items) for measuring consumers’ involvement. Findings Wine product involvement deepens with age but low involvement consumers perceiving risk in making the wrong product choice may well purchase fine wines for situations where self-concept is a moderating factor. In the case of low involvement wine consumers a positive association exists between situational wine choice and self-concept but no significant differences exist for self-concept across any of the consumption occasions. Age and self-concept were both confirmed as linked to levels of consumption. The findings support the notion that wine consumers aged 45 years and older are significantly more disposed to purchase fine wine products. Practical implications For self-concept to be relevant to purchase it follows that the wine consumption occasion must be conspicuous. Originality/value This study is the first to examine the extent to which consumer self-concept and product involvement influences the wine purchase decision at the retail level given the anticipated consumption occasion.

Sign in / Sign up

Export Citation Format

Share Document