On Adaptive Emergence of Trust Behavior in the Game of Stag Hunt

We study the emergence of trust behavior at both the individual and the population levels. At the individual level, in contrast to prior research that views trust as fixed traits, we model the emergence of trust or cooperation as a result of trial and error learning by a computer algorithm borrowed from the field of artificial intelligence (Watkins 1989). We show that trust can indeed arise as a result of trial and error learning. Emergence of trust at the population level is modeled by a grid-world consisting of cells of individual agents, a technique known as spatialization in evolutionary game theory. We show that, under a wide range of assumptions, trusting individuals tend to take over the population and trust becomes a systematic property. At both individual and population levels, therefore, we argue that trust behaviors will often emerge as a result of learning.     

趔趄的美国E＆M行业

由于受到经济及信用市场不确定性的影响,美国的娱乐及媒体（E＆M）行业也陷入了无法预知的环境中。虽然2008年E＆M行业总共完成的交易总额及交易总量都创了历史新高,但是,几乎所有的预测数据都显示,2009年E＆M行业的交易活动将明显少于两三年前。     

The benefits of being understood: The role of ethnic identity confirmation in knowledge acquisition by expatriates

In this article, we propose that the concept of ethnic identity confirmation (EIC), the level of agreement between how expatriates view the importance of their own ethnic identity and how local employees view the importance of expatriates' ethnic identity, can explain why expatriates who are ethnically similar to host‐country employees are sometimes less effective than expected when working overseas. Multinationals often choose ethnically similar expatriates for international assignments, assuming these expatriates can more effectively acquire knowledge from local employees. Thus, understanding the specific challenges that endanger the realization of this potential is crucial. Our survey, administered to a sample of 128 expatriate–local employee dyads working in China, reveals that both ethnically similar and ethnically different expatriates acquire more local knowledge when EIC is high. However, the association between ethnic (dis)similarity and knowledge acquisition is direct for ethnically different expatriates, whereas for ethnically similar expatriates it is indirect via their perception of local employees' trustworthiness. We discuss this study's important implications and provide recommendations for multinationals on how to provide tailored support to expatriates who face different identity challenges.     

Chinese FDI in New Zealand: What Are Chinese Investors Looking For?

In recent years, there has been unparalleled growth in outward foreign direct investment from China. Traditional Western‐dominated international business theory proposes that asset exploitation is necessary for firms undertaking foreign investment. However, more recently, studies suggest asset augmentation is more important for multinational enterprises from emerging countries. This article examines the acquisition by two Chinese firms—Agria and Haier—of two iconic New Zealand firms, each with a significant international presence—PGG Wrightson and Fisher & Paykel. The article determines that Agria and Haier invested to acquire strategic assets in order to strengthen their position in the Chinese market as well as build and sustain a global position. Strategic intent was an important factor in deciding where to invest, and strategic assets complementary to their own competitive advantages were sought by the Chinese firms. © 2016 Wiley Periodicals, Inc.     

Mehr als anderthalb Jahrzehnte 〉Publizistik〈 mitgeprägt

Ohne Zusammenfassung     

CEO succession and firms’ internationalization processes: Insights from German companies

This article analyses the relationship between CEO succession events and German firms’ internationalization processes, which is represented by the degree of internationalization (DOI) growth and internationalization rhythm. Based on a theoretical framework combining elements of agency theory, institutionalism and upper echelons approach, we propose a longitudinal model to examine the relationships of both process variables with the number of CEO changes and succession type (internal vs. external succession), respectively. The results of our study of 102 German firms over 23 years (1990–2012) show an inverted U-shaped impact (no impact) of the number of CEO changes (succession type) on the DOI growth and a positive (negative) monotonic effect on the rhythm of internationalization.     

Monopsony and two-part tariffs

We adapt the traditional model of two-part tariffs by a monopolist to the case of monopsony. We show that the resulting offer is that the seller pays its producer surplus as an access fee in exchange for the buyer's promise to buy everything that the seller wants to sell when price equals marginal cost. In addition, we show that this is equivalent to the surplus that the buyer captures with first-degree price discrimination as well as an all-or-nothing offer. We also extend this analysis to the case of uncertainty for a risk-averse monopsonist.     

The choice between uniqueness and conformity in mass customization

Extant research emphasizes that consumers use mass customization toolkits to create products they consider to be unique, and that perceived uniqueness is an important part of customer value. This research investigates the conditions of the customer's quest for uniqueness. It is motivated by the observation that decisions are often driven by others’ choices and a desire to fit in, rather than to be distinct. We hypothesize that consumers are more inclined to choose uniqueness for hedonic product attributes but tend toward conformity in utilitarian attributes, and that consumers’ need for uniqueness and product involvement moderate the choice. In a series of experiments, we find support for most hypotheses. We introduce conformity as a driver of choice behavior in mass customization toolkits and suggest that mass customization can best be seen as enabling consumers’ preferred mix of uniqueness and conformity. Our results also inform managerial practice, highlighting that mass customization toolkits should consider customers’ uniqueness and conformity requirements. We suggest reducing the number of utilitarian options while increasing the variety for hedonic attributes.