Neuromarketing as interdisciplinary area: Theoretical and methodological analysis

Modern neuromarketing is a synthesis of behavioral economics theoretical and methodological foundations in close connection with the tools of neurophysiology which are successfully used in the practice of sensory marketing. At the same time, the basic methodological principle of neuromarketing is limited rationality in the context of behavioral and informational uncertainty. Purpose of publication – сarrying out theoretical and methodological analysis of neuromarketing as a complex interdisciplinary and innovative area; disclosure of methodological principles and theoretical provisions of behavioral economics in the context of their applications in touch marketing. Such methods as analysis, comparison, generalization, systemic and logical ones were used in the research. It is argued that consumer decision-making in choice situations is influenced by emotions based on subconscious perception. It is proved that visual, sound and aromarketing are the main “nudging” factors of R. Thaler’s theory in the context of neuromarketing. For the first time in the scientific discourse, the elements of the sensory component of neuromarketing are considered as stimulating factors for the implicit “nudging” of R. Thaler's behavioral economics theory. The theoretical and methodological foundations of neuromarketing research, which based on more realistic postulates of limited rationality, influence of emotions and information incompleteness in contrast to “homo economicus” neoclassical paradigm are improved. It is shown that a necessary condition for further successful development of neuromarketing is a combined interaction of psychology behavioral direction, neurophysiological technologies and empirical experience of marketers due to possible achievement of synergistic effect. The results of experimental studies, based on the empirical experience of a number of well-known scientists using neurophysiological methods, have proved the verification of the basic theoretical and methodological positions and individual effects of behavioral economics, which are actively used by Ukrainian marketers and marketers of other countries.

Alternative Model to Determine the Optimal Government Subsidies in Construction Stage of PPP Rail Transit Projects under Dynamic Uncertainties

Urban rail transit is a quasioperational project and its net cash inflow can hardly cover the investment expenditure. It is essential to determine an acceptable amount of government subsidy to ensure the financial viability of the PPP projects, so as to encourage the entry of the private partner. The partners involved in PPPs have common interests but conflict regarding the value of government subsidy. Considering the uncertainty characteristic by PPPs and information incompleteness in the decision-making process, this study presents a methodology to calculate the equitable subsidy ratio favored by both participants. This study divides the decision process into two steps. First, this study constructs a financial model and introduces an acceptable range of subsidy ratio by using the Monte Carlo simulation method. Second, this study uses the bargaining game theory to determine a particular subsidy ratio under incomplete information. To verify the applicability of the presented model, the researchers invoke an illustrative example for model validation. This research provides a referential and operational method for the government and private sectors to make government subsidy decisions for quasioperational projects.