The effect of control deprivation on consumers’ adoption of no-pain,no-gain principle

Consumers often base their judgments on a no-pain, no-gain principle—that is, one must pay a cost in order to achieve a beneficial outcome. For example, they infer the quality of a product from its price and judge a bad-tasting medicine to be more effective than a tasty one. Although the use of this principle to infer the value of a product or service has been observed in several domains, the processes that underlie its use have not been fully explored. We find that when people feel out of control, they tend to use the principle because it exemplifies a causal relationship between actions and outcomes and endorsing it reaffirms their belief that they have control over the outcomes of their behavior. Our findings have implications for how marketers might position products and services to attract consumers who perceive themselves as having different levels of control.     

Equitable preference relations on infinite utility streams

We propose generalized versions of strong equity and Pigou–Dalton transfer principle. We study the existence and the real-valued representation of social welfare relations satisfying these two generalized equity principles. Our results characterize the restrictions on one period utility domains for the equitable social welfare relations (i) to exist; and (ii) to admit real-valued representations.     

Automated topic modeling of tourist reviews: Does the Anna Karenina principle apply?

Automated content analysis of online travel reviews allows identification of topics of travelers' satisfaction, yet its domain is not well researched. We suggest that the Anna Karenina principle positing a greater variability of the factors leading to business failure as opposed to those leading to success can be applied to the domain of visitors’ reviews of historic and cultural attractions. The larger variability of issues in reviews of dissatisfied visitors is likely to result in limitations for automated topic modeling. We confirm our proposition using TripAdvisor reviews of the Terracotta Army museum in China, and validate the outcome with two additional sites. The study strongly suggests that application of unsupervised topic mining algorithms to negative reviews may be problematic and the results should be treated with caution. The main themes of dissatisfaction of visitors to all three sites are reported and practical implications for management of the attractions are discussed.     

Variance swaps valuation under non-affine GARCH models and their diffusion limits

In this article, we investigate the pricing and convergence of general non-affine non-Gaussian GARCH-based discretely sampled variance swaps. Explicit solutions for fair strike prices under two different sampling schemes are derived using the extended Girsanov principle as the pricing kernel candidate. Following standard assumptions on time-varying GARCH parameters, we show that these quantities converge respectively to fair strikes of discretely and continuously sampled variance swaps that are constructed based on the weak diffusion limit of the underlying GARCH model. An empirical study which relies on a joint estimation using both historical returns and VIX data indicates that an asymmetric heavier tailed distribution is more appropriate for modelling the GARCH innovations. Finally, we provide several numerical exercises to support our theoretical convergence results in which we further investigate the effect of the quadratic variation approximation for the realized variance, as well as the impact of discrete versus continuous-time modelling of asset returns.     

Which Products are More Responsive to In-Store Displays: Utilitarian or Hedonic?

In-store displays aim to boost sales of both utilitarian and hedonic products. Noting typical differences in the information processing and purchase behavior evoked by these product types, and building on congruency theory principles, the authors propose that different types of in-store displays (i.e., island, end-of-aisle, or shelf signage) are more appropriate for utilitarian versus hedonic products, and the use of price or product promotions might reinforce these effects. With a database that combines three data sources (scanner, observational, and survey), this article presents an analysis of a market share model at the SKU level. The results confirm that in-store displays have differential effects on sales, depending on their characteristics; congruency between the decision-making process of utilitarian versus hedonic products and the characteristics of in-store display types moderates their effectiveness in terms of SKU sales. Shelf signage strongly increases the sales of utilitarian products, whereas island and end-of-aisle displays increase sales of hedonic product categories more effectively. The use of congruent promotions creates synergistic influences that reinforce these effects. In particular, price promotions improve the impact of shelf signage on utilitarian products, and product promotions strengthen the impacts of island and end-of-aisle displays on hedonic products. These results extend prior research on in-store marketing actions and the nature of utilitarian versus hedonic products, as well as providing recommendations for retailers and manufacturers seeking to optimize their retail space and commercial budgets.     

对财务会计中重要性原则的探讨

财务会计原则中的重要性原则是属于西方财务会计的一条重要原则。对于重要性原则的正确认识和运用,能够使财务会计工作中核算费用大大降低,同时使财务会计工作数据信息更加准确,对于财务会计人员来讲是非常有利的一项原则。因此,论文就现如今财务会计性原则中的重要性原则作深入论述。     

从语用角度解读跨文化交际中的委婉语

委婉语是用温和、含糊和迂回的说法替代粗俗、生硬和直率的说法,其使用受到语境、对象和意图的制约。在跨文化交际中除了文化差异外,结构生成、礼貌原则、场合及对象都是不可缺少的重要因素,是确认委婉语的指称义、辩明含义和意图的重要途径。     

系统思维对教学管理的启迪

目前高校教学管理面临前所未有的繁杂的、动态的问题,教学管理思维也存在分割思考、静止思考、表面思考、封闭思考的问题。改进教学管理的设计与运行应运用系统思维方式,对教学管理进行整体性、综合性、层次性、动态性和开放性思考。     

Cognition,Social Impulse,and the Principle of Adaptation: Insights into the Peirce-Veblen Connection

This article seeks to offer insights into the connections between Charles S. Peirce and Thorstein B. Veblen regarding their understanding of the logic of scientific thought and cognition. In this sense, this work explores how both Veblen and Peirce dismissed the Cartesian notion of unmediated cognition and how they sought to depict cognition as a process. Furthermore, this article presents Peirce’s concept of “social impulse” and Veblen’s “principle of adaptation” as complementary perspectives on science and cognition that have strong evolutionary content.