Interval Perception of Information and Consumer Behavior: Methodological Aspects

2007 ◽  
pp. 60-70
Author(s):  
D. Davydov
Keyword(s):  
Consumer Choice ◽  
Market Price ◽  
Interval Uncertainty ◽  
Subjective Perception ◽  
Economic Agents ◽  
Goods And Services ◽  
Economic Decision Making ◽  
Interval Approach ◽  
The Difference ◽  
Methodological Aspects

The article stresses the difference between objective presence and subjective perception of information by economic agents. The author considers some psycho-physiological aspects of information perception which are directly connected with the processes of economic decision-making. The article also discusses theoretical problems of modeling the perception of information about prices and quantities of goods and services on the part of consumers. Interval approach for uncertainty description is offered, the general consumer choice problem in case of interval uncertainty is formulated, and some practical issues in market price formation, the role of savings and macroeconomic equilibrium are discussed.

The transformation of the decision-making process on the part of economic agents influenced by social constraints

2020 ◽  
Vol 16 (7) ◽  
pp. 1202-1222
Author(s):  
M.V. Grechko ◽  
L.A. Kobina ◽  
S.A. Goncharenko
Keyword(s):  
Decision Making ◽  
Consumer Choice ◽  
Social Constraints ◽  
Decision Making Process ◽  
Economic Knowledge ◽  
Economic Agents ◽  
The Individual ◽  
Contextual Environment ◽  
Economic Constraints ◽  
External Signals

Subject. The article focuses on the decision-making mechanism used by economic agents given the existing social constraints. Objectives. We devise applied toolkit to study how socio-economic constraints transform the decision-making mechanism used by economic agents. Methods. The study involves means of the expert survey, the method that streamlines economic knowledge. Results. Social constraints are illustrated to influence the decision-making mechanism used by economic agents, assuming that the individual mind relies on specific mechanisms to make judgments and decisions. Generally, the mechanisms are very useful, however they may generate serious errors during the decision-making process. Given the social constraints, economic agents were found to follow four mental models to make their decisions in case of the full or partial uncertainty, i.e. the representative relevance, accessibility, relations, heuristics (modeling). Conclusions and Relevance. The scientific ideas herein show that the inner architecture of a choice an individual makes determines his or her decisions. The decisions often depend on the contextual environment that gives external signals perceived by the individual while evaluating alternative ways. The findings can possibly be used as a mechanism to manage the consumer choice.

The Building Blocks of Formulas to Measure Expectation Damages; the Indifference Principle

2018 ◽  
Author(s):  
Melvin A. Eisenberg
Keyword(s):  
Market Price ◽  
Building Blocks ◽  
Third Party ◽  
Replacement Cost ◽  
Contract Price ◽  
Resale Price ◽  
The Difference ◽  
Lost Profit

Chapter 13 concerns the building blocks of formulas to measure expectation damages: replacement cost, market price, resale price, diminished value, and lost profits. Replacement-cost damages are based on the difference between the contract price and the actual or imputed cost of a replacement transaction. Resale-price damages are based on the difference between the contract price payable by a breaching buyer and the price the seller received on resale to a third party. Diminished-value damages are based on the difference between the value of the performance that a breaching seller rendered and the value of the performance that she promised to render. Lost-profit damages are based on the difference between the price a breaching buyer agreed to pay and the seller’s variable costs.

Influence of Images in Online Reviews for Search Goods on Helpfulness

2020 ◽  
Vol 18 (1) ◽  
pp. 43-73
Author(s):  
Lars Osterbrink ◽  
Paul Alpar ◽  
Alexander Seher
Keyword(s):  
Consumer Choice ◽  
Online Reviews ◽  
Potential Interaction ◽  
Matched Pair ◽  
Social Commerce ◽  
Goods And Services ◽  
Matched Pair Analysis ◽  
The Right ◽  
Pair Analysis ◽  
Positive Effect

AbstractReviewing and rating are important features of many social media websites, but they are found on many e-commerce sites too. The combination of social interaction and e-commerce is sometimes referred to as social commerce to indicate that people are supporting each other in the process of buying goods and services. Rgeviews of other consumers have a significant effect on consumer choice because they are usually considered authentic and more trustworthy than information presented by a vendor. The collaborative effort of consumers helps to make the right purchase decision (or prevent from a wrong one). The effect of reviews has often been researched in terms of helpfulness as indicated by their readers. Images are an important factor of helpfulness in reviews of experience goods where personal tastes and use play an important role. We extend this research to search goods where objective characteristics seem to prevail. In addition, we analyze potential interaction with other variables. The empirical study is performed with regression analyses on 3,483 search good reviews from Amazon.com followed by a matched pair analysis of 186 review pairs. We find that images have a significant positive effect on helpfulness of reviews of search goods too. This is especially true in case of short and ambiguous reviews.

ECONOMIC THEORIES OF COMPETITION, WHICH DETERMINE THE CONDITIONS AND FACTORS OF FORMATION OF TECHNOLOGICAL COMPETITIVENESS OF THE NATIONAL ECONOMY

2021 ◽  
Vol 296 (4) ◽  
pp. 100-104
Author(s):  
Yaroslav BEREZIVSKYI ◽  
Keyword(s):  
National Economy ◽  
Technology Implementation ◽  
Competitive Advantages ◽  
Economic Agents ◽  
Economic Theories ◽  
Intellectual Resource ◽  
Wide Range ◽  
Innovation And Technology ◽  
The Difference ◽  
Technological Competitiveness

A significant number of scientific economic theories have been identified, which substantiate the essential characteristics of the technological competitiveness of the national economy. The difference between each of the theories is due to the evolution of economic development, conditions and factors of formation, as well as directions and means (tools) to ensure the technological competitiveness of the national economy. The conditions and factors of formation of technological competitiveness of the national economy according to economic theories of competition – blue ocean, global advance of competitors, competitive advantages, cyclical development of economy, neoliberalism, structuring are allocated. In each of the theories of competition as their historical evolution, the technological competitiveness of the economy was considered in the context of access and ability to effectively use technological resources, the formation of the market of innovation and technology, implementation of state policy to stimulate innovation. Taking into account theories of competition allows to clarify the important characteristics of technological competitiveness of the national economy, which relate to determining the influence of society, state, market environment, globalization and informatization on the creation and implementation of technologies in economic processes, economic competitiveness. Analysis of the evolution of scientific views shows the high intensity of changes in the field of competition and provides a wide range of conditions and factors for the formation of technological competitiveness, the development of economic agents. Accordingly, the lack of opportunities for technological and innovative development of national producers should be regarded as the main threat to the competitiveness of the economy. These are market, infrastructural, technological, innovative, intellectual, resource and other trends, in the context of which it becomes possible to effectively use competitive opportunities.

scholarly journals IMPACT OF ADOPTING IFRS STANDARD ON THE EQUITY COST OF BRAZILIAN OPEN CAPITAL COMPANIES

2016 ◽  
Vol 17 (4) ◽  
pp. 85-108 ◽  
Author(s):  
RAFAEL CONFETTI GATSIOS ◽  
JOSÉ MARCOS DA SILVA ◽  
MARCELO AUGUSTO AMBROZINI ◽  
ALEXANDRE ASSAF NETO ◽  
FABIANO GUASTI LIMA
Keyword(s):  
Financial Reporting ◽  
Accounting Standard ◽  
Financial Reporting Standards ◽  
Quality Of Accounting Information ◽  
Information Studies ◽  
Equity Cost ◽  
Mandatory Adoption ◽  
The Difference ◽  
Methodological Aspects ◽  
The Impact

ABSTRACT Purpose: This study aims to assess the impact of adopting IFRS standard on the equity cost of Brazilian open capital companies in the period of 2004-2013. Originality/gap/relevance/implications: The adoption of International Financial Reporting Standards aims to increase the quality of accounting information. Studies performed in Europe suggest that, after the adoption of the IFRS standard, there was a reduction in the equity cost of companies due to the reduction of information asymmetry and risk. Key methodological aspects: The equity cost was calculated using the capital asset pricing model (CAPM) adapted to the Brazilian case. The empirical strategy was the difference analysis in differences, comparing the results of companies that voluntarily adopted the IFRS with companies that adopted IFRS after the mandatory adoption period. Summary of key results: The results indicate that the adoption of the IFRS standard does not contribute to reduce the equity cost in Brazil. Key considerations/conclusions: Suggesting that the process of adopting the international accounting standard may take more time to impact the equity cost of Brazilian open capital companies, since the impact of IFRS is not related only with the adoption, but also with its use by companies and users.

scholarly journals Esham, the Origin of Sukuk for Facing the Crisis: Historical Experience

2021 ◽  
Vol 10 (1) ◽  
pp. 45
Author(s):  
Khairunnisa Musari
Keyword(s):  
Lower Cost ◽  
Low Cost ◽  
Foreign Debt ◽  
Historical Experience ◽  
The Public ◽  
Goods And Services ◽  
The Past ◽  
State Budgets ◽  
The Difference ◽  
The Government

Pandemic brings a crisis. This makes world leaders have to work hard and smartly in managing state budgets. During the heyday of Islam, Muslims also faced crises. Given that time the power of Islam mastered many areas of the world, it can be assumed that the crisis that occurred in the past was a global crisis as it is happening today. The difference is the crisis that occurred at the time because of losing the war. This paper tries to describe the historical experience of the esham, one of the fiscal instruments in the Islamic world that helped the Ottoman Empire overcome the crisis. Esham has mobilized low-cost funds from the public in a relatively concise time. Esham served as a better choice than looking for foreign debt. As the origin of sukuk, esham has simpler structure so that can be used as an alternative to sukuk with a lower cost. To deal with a crisis, esham may intervene in the economy. Esham funds to the real sector in turn will help the government drive the economy as well as control prices in the market for goods and services. Therefore, esham has the potential in facing the crisis.

scholarly journals An Insight Into the Value Added Tax System Detailing Its Origins, Impact, Provisions and Regulations With Reference to India

2004 ◽  
Vol 3 (1) ◽  
pp. 19-29
Author(s):  
Tomy Kallarackal
Keyword(s):  
European Economic Community ◽  
Value Added ◽  
Tax Credit ◽  
Value Added Tax ◽  
Excise Duty ◽  
Goods And Services ◽  
The World ◽  
The Difference ◽  
The Government ◽  
Insight Into

The Value Added Tax was first introduced in France in 1954. It was the resultant effort of France and members of the European Economic Community (E.E.C) during the 1950s aimed at the simplification of commodity taxes. Currently more than 130 nations in the world have adopted the VAT system. In the last decade alone over 50 nations have introduced VAT. This includes implementation in China and most recently the addition of Australia to the list of VAT nations. The world over, VAT is payable on both goods and services as they constitute a part of the national GDR Excise duty and sales taxes are merged into the singularity of VAT. No tax is levied on exports with full input tax credit made available. The scheme of taxation adopted by most nations is very simple. The seller of goods and the service provider charge tax on sales, avail input tax credit and pay the difference as VAT to the goVernment treasury. The compliance system in VAT nations is also very simple. There is very less interface between the tax collector and the tax payer. However there are provisions for heavy penalization of VAT defaulters. VAT is administered nationally and is also levied on imports.  

scholarly journals Methodological Choices In Detecting Divergent Earnings

2011 ◽  
Vol 16 (3) ◽  
Author(s):  
David T. Doran
Keyword(s):  
Market Price ◽  
Test Statistics ◽  
Font Size ◽  
Methodological Choices ◽  
Random Samples ◽  
Nonparametric Statistical Methods ◽  
Expected Earnings ◽  
The Difference ◽  
Reported Earnings ◽  
Nonparametric Statistical

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="letter-spacing: -0.15pt;"><span style="font-size: x-small;"><span style="font-family: Batang;">This paper empirically tests for methodological superiority in detecting divergent earnings (the difference between actual and expected earnings).<span style="mso-spacerun: yes;">&nbsp; </span>Divergent earnings are generated using Value Line forecasted and reported earnings data.<span style="mso-spacerun: yes;">&nbsp; </span>Two hundred random samples of 100 cases each are drawn.<span style="mso-spacerun: yes;">&nbsp;&nbsp;&nbsp; </span>One hundred independent two sample tests are performed with 0%, 1%, 3%, 5%, 7%, and 10 % positive earnings introduced.<span style="mso-spacerun: yes;">&nbsp; </span>The two sample tests are performed using both parametric (t test), and nonparametric (Mann Whitney test) statistics.<span style="mso-spacerun: yes;">&nbsp; </span>They are performed on the &ldquo;divergent earnings&rdquo; data deflated by: 1) forecasted earnings , and 2) the market price of the stock.<span style="mso-spacerun: yes;">&nbsp; </span>The results indicate that the superior alternative is nonparametric statistical methods based upon ranks, and the deflator choice under these nonparametric methods is of little consequence.</span></span></span></p>

scholarly journals The role of short-term changes in cognitive capacity on economic expenditure among Kenyan agro-pastoralists

PLoS ONE ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. e0247008
Author(s):  
Richard A. Iles ◽  
Aditi Surve ◽  
Samuel Kagundu ◽  
Haniel Gatumu
Keyword(s):  
Cognitive Ability ◽  
Fluid Intelligence ◽  
Cognitive Capacity ◽  
Primary Data ◽  
East African ◽  
Short Term ◽  
Social Scientists ◽  
Economic Agents ◽  
Pastoralist Communities ◽  
Economic Decision Making

The increased exposure of pastoralist communities in East Africa to climatic shocks has focused attention on the resilience of these communities. Although many social scientists directly or indirectly infer versions of homo-economic agents, increasing evidence in development behavioral economics, indicates that such assumptions may be misplaced. Despite on-going advances in the science concerning the effects of stress on dynamic changes in short-term cognitive capacity, there remains limited understanding of the effects of changes in cognitive capacity on economic decision making. The present research empirically evaluates the drivers of short-term changes in cognitive capacity–cognitive ability and heuristic use–and its effect on crop and livestock expenditure among predominantly poor Kenyan agro-pastoralists. Three rounds of cognition and survey data from Samburu, Kenya is analysed. The primary data was collected at the end of the 2015–16 East African drought and covers an 11-month period between October 2016 and September 2017. Dynamic panel estimation, employing maximum likelihood, is used on balanced and unbalanced data. Results indicate that fluid intelligence and heuristic use, along with literacy and stressors, affect crop expenditure. Perceptions of scarcity, relative to prior expectations, are also identified as an important determinant of short-term changes in cognitive ability. These results underscore the importance of better understanding the effects of short-term changes in cognitive capacity on economic expenditure among the poor.

BIOFEED BACK THERAPY AND CYTOFLAVIN IN THE SYSTEM OF MEDICAL SUPPORT OF THE TRAINING PROCESS OF ELDERLY HOCKEY PLAYERS

2021 ◽  
pp. 306-310
Author(s):  
А. А. Елькин ◽  
Ю. А. Парфенов ◽  
С. А. Парфенов ◽  
К.В. Сапожников ◽  
А. Л. Коваленко ◽  
...  
Keyword(s):  
Functional State ◽  
Effective Means ◽  
Complete Recovery ◽  
The Elderly ◽  
Biofeedback Training ◽  
Medical Support ◽  
Training Process ◽  
Hockey Players ◽  
The Difference ◽  
Methodological Aspects

Одним из направлений улучшения состояния пожилого человека является методика аутотренинга с биологической обратной связью как средство коррекции отклонений функционирования регуляторного аппарата, а также усиление антиоксидантной защиты и элиминация последствий оксидативного стресса при помощи терапии Цитофлавином. Указанные методики представляются простым и эффективным средством коррекции негативных изменений функционального состояния у пожилых хоккеистов после цикла тренировок и обеспечение возможности более полного восстановления их организма. Разность точек приложения позволила объединить приём Цитофлавина и БОС-тренинга в единую комплексную коррекционно-восстановительную методику. Цель исследования - рассмотрение организационно-методических аспектов внедрения комплексной методики коррекции функционального состояния пожилых хоккеистов в систему сопровождения их тренировочного процесса. По результатам проведенного исследования получены убедительные данные о положительном эффекте включения Цитофлавина и БОС-тренинга в систему медицинского сопровождения тренировочного процесса у пожилых хоккеистов. Рассмотренные в настоящей статье организационнометодические аспекты внедрения комплексной методики коррекции функционального состояния пожилых хоккеистов в систему сопровождения их тренировочного процесса позволяют решить ряд задач, стоящих перед медицинскими работниками, касающихся непрерывного мониторинга состояния организма пожилых хоккеистов, упреждающей диагностики его негативных отклонений, а также системы коррекционно-восстановительных мер. One of the ways to improve the condition of the elderly body is the method of auto-training with biofeedback, as a means of correcting deviations in the functioning of the regulatory apparatus, as well as improving antioxidant protection and eliminating the effects of oxidative stress using Cytoflavin therapy. These methods seem to be a simple and effective means of correcting negative changes in the FS of elderly hockey players after a training cycle and ensuring the possibility of a more complete recovery of their body. The difference in the points of application made it possible to combine the intake of Cytoflavin and biofeedback training into a single complex correctional and restorative technique. Purpose of the research: to consider the organizational and methodological aspects of introducing a comprehensive methodology for correcting the functional state of elderly hockey players into the system of support of their training process. Based on the results of the study, we have obtained convincing data on the positive effect of the inclusion of Cytoflavin and biofeedback training in the system of medical support for the training process of elderly hockey players. The organizational and methodological aspects of introducing a comprehensive methodology for correcting the functional state of older hockey players into the system of support for their training process considered in this article make it possible to solve a number of problems facing medical workers regarding continuous monitoring of the functional state of older hockey players, proactive diagnosis of their negative deviations, as well as a system of reabilitation.

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