Towards a brain-to-society systems model of individual choice

Canonical models of rational choice fail to account for many forms of motivated adaptive behaviors, specifically in domains such as food selections. To describe behavior in such emotion- and reward-laden scenarios, researchers have proposed dual-process models that posit competition between a slower, analytic faculty and a fast, impulsive, emotional faculty. In this paper, we examine the assumptions and limitations of these approaches to modeling motivated choice. We argue that models of this form, though intuitively attractive, are biologically implausible. We describe an approach to motivated choice based on sequential sampling process models that can form a solid theoretical bridge between what is known about brain function and environmental influences upon choice. We further suggest that the complex and dynamic relationships between biology, behavior, and environment affecting choice at the individual level must inform aggregate models of consumer choice. Models using agent-based complex systems may further provide a principled way to relate individual and aggregate consumer choices to the aggregate choices made by businesses and social institutions. We coin the term “brain-to-society systems” choice model for this broad integrative approach.     

Towards a strategic place brand-management model

Abstract

Using earlier research into models of place branding-management processes, this paper develops a multi-level conceptual model of strategic place brand management designed to support managers in embracing a holistic approach to place brand management. The model identifies the following components for attention and activity: place brand evaluation; brand infrastructure relationships, including infrastructure (regeneration) and stakeholder engagement (management); place brand articulation; and brand communications. The model identifies the influences and action processes between these components, including brand identity and architecture, influencing brand experience. Existing place branding models take different perspectives on the branding process – respectively, relationship management, communications, and strategic planning; none of these models are comprehensive and neither are they widely adopted or tested. This paper proposes an integrative model that builds on and subsumes these earlier models and is also grounded in the wider research on branding and place branding concept and processes.     

Information processing analysis of a stochastic model of brand choice

A formal and detailed comparison between Morrison's brand loyal model and its information processing counterpart reveals serious internal inconsistencies and other shortcomings of this stochastic model.     

The choice of appropriate technology in a general equilibrium model

This paper analyzes the general equilibrium aspects related to the choice of technology. The paper studies the problem from the perspective of a small, labor abundant open economy that does not generate its own technology. The economic planners must choose between two technologies, one better geared toward the production of labor intensive goods, the other to capital intensive goods. It is shown that the choice of technology not only will affect the welfare level, but it can also reverse the pattern of international trade. It is also shown that the imposition of a tariff can lead the planner to choose a different technology from the one that is optimal under free trade.     

Educating young consumers – a food choice model

It has been acknowledged that it is only by obtaining a more detailed understanding of food choice that people’s diets can be improved. In Northern Ireland, research into food choice has been limited yet the Province has the second highest rate of heart disease in the world, indicating the need for change. This study investigated the food choices of 9‐ to 17‐year‐olds in Northern Ireland and the influential factors. A range of research techniques were employed incorporating both qualitative and quantitative methods, namely observations, focus groups, picture associations, dietary case studies and questionnaires. The research indicated that the dietary patterns adopted by this group are characterized by a high consumption of fat, yet the reduction of fat tends to dominate the overall strategy for the prevention of obesity and lowering the risk of coronary heart disease. In addition, a high consumption of sugar products was evidenced along with a distinct dislike for healthier alternatives such as fruit and vegetables. The ‘skipping’ of meals, especially breakfast and a high prevalence of snacking was also apparent. However, these eating habits were found to be affected by various factors such as age and gender, emphasizing the complex nature of food choice. The findings from this research enabled the development of a model relating to the food choices of 9‐ to 17‐year‐olds in Northern Ireland, highlighting the influential factors and subsequent health implications.     

Towards a model of destination innovation process: an integrative review

The goal of the present paper is to integrate five types of literature related to the innovation process (i.e. cluster theory, innovation systems, network relations, knowledge management, and innovation types) and apply them to the local tourism destination to build a destination innovation process model with macro and micro perspectives. The suggested models intend to broaden the thinking on destination innovation process for tourism-related agents at the local and national level. The paper undertakes a careful review of the relevant literature before creating the conceptual models. The paper’s novelty and uniqueness lies in suggesting a new conceptual model of addressing how innovation competence of tourism destinations can be developed, and offering insight for tourism-related agents at the local and national level into how to effectively create and manage innovations. Future research should undertake empirical studies to test the integrated models presented in this conceptual paper.     

Towards an identity-based brand equity model

In the context of increasingly interchangeable product and service offerings, brands are crucial drivers for product purchasing and usage decisions. Thus, they constitute a substantial intangible asset for most companies. In order to maximize this asset, current research has developed various brand equity models. However, the majority of these base their approach on an outside-in perspective by focusing on buyer perceptions of the brand and their related buying behavior. An integrated approach including for example employees as an important internal source of brand equity, has so far received little attention. The following paper aims to close this gap by developing a new integrated brand equity model. This research explores the sources of brand equity from both internal and external perspectives at the behavioral and financial level in order to achieve a more accurate and sustainable brand equity measurement approach.     

Buying group choice: The effect of individual group member's prior decision frame

This article reports the results from two experiments that tested decision‐framing effects on choices made by simulated organizational buying groups. The first experiment showed that the choice of suppliers by buying groups varied depending on the nature of the decision frame. Moreover, group influence seemed to intensify the effect of the loss decision frame. The second experiment tested whether mixed‐frame groups used a lexicographic strategy to make multidimensional supplier choice decisions. Buying groups faced with a choice between two suppliers that differed with respect to price and quality chose the supplier that was best on the most important attribute—quality. Also, the decision frame associated with the important attribute affected the buying groups' choices. © 2002 John Wiley & Sons, Inc.     

Towards a model of adoption in internet banking: Strategic communication challenges

It has been established that increasing the role of technology in a service organisation can serve to reduce costs and often improve service reliability. It remains the case however that there is an important role for personalised relationships in the delivery of any service proposition. Throughout this paper both of these perspectives will be discussed. The key managerial challenge exists in establishing an appropriate balance between remote and personal interactions where both customer and provider needs are met. Quantitative findings derived from over 2,000 retail bank customers categorised as high net worth and low net worth indicate that while all see Internet banking as important irrespective of their relationship status, neither group surveyed shows a desire to replace face-to-face interaction with e-banking solutions. The strategic communications challenges in managing this paradox are discussed.     

Towards an ecological technology for global growth in a North-South trade model

In a world of rapid and cheap communication, where countries are not isolated, ideas and information spread quickly across international borders. Technological progress, leading to more efficient productive processes, in terms of the required amount of natural resources, seems to be the key to overcoming the conflict between environmental concerns and economic growth. This paper investigates the relationship between natural resources and sustainable economic growth in a North-South trade model. We assume that a process of capital transfer from North to South is performed in two different scenarios depending on the effect of this transfer upon the Southern economy. Within a game theory framework, we characterize the optimal paths of global economic growth which respects the sustainable use of natural resources.     

Towards a code of conduct for the tourism industry: An ethics model

There are four areas of concern in the ethical pursuit of tourism. Too often, tourism development is planned without consideration of the local environment's or community's needs and characteristics. An ethical treatment of the environment and community should involve consideration and participation in the planning and decision-making process, as well as implementing effective guidelines to assure fairness in employing both traditional and non-traditional employees. Finally, the industry must pay special attention to the target market: tourists. Dinah Payne is an Associate Professor of Management at the University of New Orleans. Her teaching and research interests include business ethics, the legal environment of business, international business and international management. She has published articles in the Journal of Business Ethics,the Labor Law Journal,the Journal of Managerial Issuesand Management Accounting.She is the current Vice President/Program Chair of the Southern Academy of Legal Studies in Business. Frédéric Dimanche is an Assistant Professor of the School of Hotel, Restaurant and Tourism at the University of New Orleans. His teaching and research interests include tourist behavior and tourism marketing. He has published articles in the Journal of Travel and Tourism Marketing,the Journal of Leisure Research,and Leisure Sciences.He is the President of the Travel and Tourism Research Association, South Central Chapter.     

Consumer response to and choice of customized versus standardized systems

Recent research on customization suggests that a need exists to examine conditions under which selling customized versus non-customized offerings will be more beneficial to vendors. To this end, this paper empirically evaluates consumer response to and choice of customized systems (offerings that are integrated and customized) in relation to standardized systems (offerings that feature integration but not customization). Through a series of studies, we demonstrate that the relationship between a buyer's systems purchase strategy and their future repurchase intentions toward the seller is moderated by a buyer characteristic (that is, a consumer's insight into his/her own preferences, or the degree to which a consumer can confidently and consistently express his or her true preferences) as well as a seller characteristic (retailer reputation). Given that consumers who are experts have greater insight into their own preferences than novices, our work also suggests that this greater insight into one's own preferences is a plausible explanation for why experts are more likely to choose a customized system. The main practical implication of our research is that it prompts managers to challenge the contention in some mass customization writings that customized offerings have universal appeal. Although the participants in our studies also tended to be more attracted to customized systems in general, this proclivity was lower for consumers with less product category expertise. This is important because our results convey that repurchase intentions towards a vendor will be higher after the purchase of a non-customized system by those consumers who lack insight into their preferences. As such, firms should try to propose customized systems only to those prospective buyers who possess strong preference insight, and propose standardized systems to those buyers who do not.     

Determinants of international retail operation mode choice: Towards a conceptual framework based on evidence from French specialised retail chains

Abstract

More and more retailers have expanded internationally. Because of its impact on the success of a retailer's international operations, a critical aspect of an internationalisation strategy consists of choosing the appropriate entry and expansion modes. The phenomenon remains misunderstood as little research in international retailing has focused on this question and findings from international management literature find limited application to services.

This paper draws upon a literature review and six case-studies from French specialised retailers to provide an exploratory framework for examining key determinants of operation mode choice. It is found that retailers consider four underlying dimensions of operation modes. These dimensions are affected by situational, individual and marketing factors whose explanatory impacts are moderated by the motives for internationalisation and relationship networks.     

Identification and semiparametric estimation of a finite horizon dynamic discrete choice model with a terminating action

We study identification and estimation of finite-horizon dynamic discrete choice models with a terminal action. We first demonstrate a new set of conditions for the identification of agents’ time preferences. Then we prove conditions under which the per-period utilities are identified for all actions in the agent’s choice-set, without having to normalize the utility for one of the actions. Finally, we develop a computationally tractable semiparametric estimator. The estimator uses a two-step approach that does not use either backward induction or forward simulation. Our methodology can be implemented using standard statistical packages without the need to write specialized computational routines, as it involves linear (or nonlinear) projections only. Monte Carlo studies demonstrate the superior performance of our estimator compared with existing two-step estimation methods. Monte Carlo studies further demonstrate that the ability to identify the per-period utilities for all actions is crucial for counterfactual predictions. As an empirical illustration, we apply the estimator to the optimal default behavior of subprime mortgage borrowers, and the results show that the ability to identify the discount factor, rather than assuming an arbitrary number as typically done in the literature, is also crucial for obtaining correct counterfactual predictions. These findings highlight the empirical relevance of key identification results of the paper.     

A sequential choice model for multiple discrete demand

Quantitative Marketing and Economics - Consumer demand in a marketplace is often characterized to be multiple discrete in that discrete units of multiple products are chosen together. This paper...     

A structural equation model of latent segmentation and product choice for cross-sectional revealed preference choice data

We consider the problem of simultaneously performing market segmentation and predicting product choice for a given population of consumers. This behaviour-based segmentation model uses several types of information characterizing individual consumers and their market context: sociodemographic, psychographic and product choice data. These data are combined in a normative conceptual framework that posits the formation of latent segments, each of which displays differing degrees of sensitivity to relevant product attributes. This permits results obtained by the proposed model structure to differ significantly from those of traditional segmentation techniques, which usually produce a set of groups characterized by smaller within-group than between-group variation in sociodemographic and/or psychographic variables. By making the segments behaviour-based, it is argued that the segments produced by the model will be more actionable and more directly relevant to management decision-making. The proposed model is applied to a data set involving choice of a beauty product offered by five national brands. The results show that the explanatory power of the latent segmentation and choice model is far greater than that of the MNL model, which is nested within our more general specification. The types of results available from the model are illustrated through the application.     

Value congruence: The interplay of individual and organizational value systems

This paper focuses on the individual manager making difficult decisions within the context of the organization in which he or she is a member. It proposes a method for examining the interplay of individual and corporate value systems, offering a value congruence model. Hypotheses are generated concerning the varying nature of the value conflicts faced by managers. These are then evaluated based upon interview data from a cross-section of managers in two organizations. The impact of differing organizational value systems is discussed, as well as the implications of the study for research in this area.Jeanne Liedtka is an Assistant Professor and Chair, in the Department of Management at Simmons College in Boston, Massachusetts. Her current research interests involve the study of value conflict in the health care field.     

A model of audience choice of local TV news program

This paper presents and validates a model of audience choice of local TV evening news programs. The model is derived from a model of individual viewer choice behavior that specifies a viewer's probability of choosing a particular news program as a function of the viewer's relative preference toward that program. The audience model is operationalized using a multinomial logit model. This specification is estimated and found to perform well. Implications of the model for management of TV stations and advertisers are discussed.     

Towards a Praxiology of Advertising

This article argues for the need to abandon traditional models of advertising effect, if a theory is to be developed which is capable of fitting the observable reality that people use advertisements deliberately rather than being used by them. Using information processing theory as the best available organizing principle, it proposes a number of candidate elements of a future, fully grounded theory of advertising effect.