Error cascades in observational learning: An experiment on the Chinos game

The paper reports an experimental study based on a variant of the popular Chinos game, which is used as a simple but paradigmatic instance of observational learning. There are three players, arranged in sequence,each of which wins a fixed price if she manages to guess the total number of coins lying in everybody?s hands. Our evidence shows that, despite the remarkable frequency of equilibrium outcomes, deviations from optimal play are also significant. And when such deviations occur, we find that, for any given player position, the probability of a mistake is increasing in the probability of a mistake of her predecessors. This is what we call an error cascade, which we measure by evaluating the (heterogeneous) Quantal Response Equilibrium which better suits our data. We also check the robustness of our findings when we allow for belief heterogeneity by applying Kübler and Weizsäcker?s (2004) cognitive frame of limited depth of reasoning.     

The Entrepreneurial Quest for Emancipation: Trade-Offs,Practices, and Outcomes in an Indigenous Context

Journal of Business Ethics - This paper builds on theoretical developments that view entrepreneurship as emancipation, i.e., entrepreneurial activities as generators of change and pursuit of...     

Competitive equilibrium hyperinflation under rational expectations

This paper shows that a competitive equilibrium model, where a representative agent maximizes welfare, expectations are rational and markets are in equilibrium can account for several hyperinflation stylized facts. The theory is built by combining two hypotheses, namely, a fiscal crisis that requires printing money to finance an increasing public deficit and a predicted change in an unsustainable fiscal regime.We thank an anonymous referee for very helpful comments. A. B. Cunha acknowledges financial support from the Brazilian Council of Science and Technology (CNPq).     

Causes and consequences of exports' channel integration

This paper investigates the decision to export with a proprietary exports channel by Spanish manufacturing firms. The research focuses on the effects of organizational capabilities versus scale economies on the vertical integration decision, and postulates a system of two simultaneous equations to properly evaluate the influence of a proprietary exports channel on the volume of exports. The results show that scale economies are more relevant than organizational capabilities in the decision to vertically integrate, and that, when properly evaluated, the exports mode does not influence the level of exports. The first author acknowledges financial support from the Spanish Ministry of Education (CICYT SEC97-1368) and Comunidad de Madrid (06/0067/98). Previous versions of this paper have been presented at the 24th EARIE Conference in Leuven (Belgium), XIII Jornadas de Economía Industrial in Madrid (Spain). The authors want to thank two anonymous referees for their comments and suggestions, although any remaining mistake is our own responsibility.     

Contributions of HRM throughout the stages of environmental management: methodological triangulation applied to companies in Brazil

The purpose of this research is to analyze the contribution of human resources management throughout the evolutionary stages of environmental management in Brazilian companies. A theoretical framework concerning environmental management and its evolution and the ‘greening’ of the functional and competitive dimensions of human resource management were developed. A methodological triangulation was developed in two complimentary phases. In the first phase, data were collected from 94 Brazilian companies with ISO 14001 certification. The data collected were analyzed and processed using statistical techniques. The conclusions of the first phase supported the second phase of this empirical research. The second phase consisted of a study of multiple cases in four Brazilian companies. The results show evidence of the first known empirical study of contributions of human resource dimensions throughout the stages of environmental management in Brazilian manufacturing companies.     

Revealing the screening: organisational factors influencing the recruitment of immigrant professionals

Little attention has been paid to factors that influence employers in their recruitment behaviour, especially as it affects immigrants. In order to address this gap in the literature, a case study of regional Australian employers is used to examine how organisation-based factors influence the employer screening and recruitment of immigrant professionals. The findings indicate that employers are not primarily driven by a human capital lens during the recruitment process. Rather they seem to be influenced by the place and specificity of the process. Some of the key factors which can either favourably or unfavourably influence employers include the organisational size, type, resource availability, ethnic diversity of clients, level of role criticalness, industry-based culture and management style.     

The “little emperor” and the luxury brand: How overt and covert narcissism affect brand loyalty and proneness to buy counterfeits

The authors build on approach‐avoidance motivations theory to investigate the relationship between narcissism and luxury brand consumption. Narcissistic consumers, that is, those showing excessive conceit, are prone to consuming high‐prestige products and are thus attractive targets for luxury brands. Yet despite research in psychology distinguishing two types of narcissism, overt (or grandiose) and covert (or vulnerable) narcissism, little is known about how luxury consumption varies by these forms of narcissism. This paper focuses on Chinese Generation Y consumers to examine how overt and covert narcissism differ in their effects on luxury brand loyalty and proneness to purchase counterfeits as well as the moderating role of brand‐image self‐image congruity on the relationship between overt/covert narcissism and brand loyalty. Findings highlight the need for marketers to understand narcissistic targets more clearly in order to develop successful strategies to foster brand loyalty and diminish counterfeit consumption.     

Susceptibility to Advertising and Perceived Friend Norms: A Meta-Analysis of Materialism in Youths “Meta-Analysis of Materialism in Youths”

This study presents a meta-analysis assessing the antecedents that are associated with the influence that advertising and friends' behaviours have on the formation of materialistic behaviours in youth. We carried out a systematic review in which we identified an initial 217 studies. Of these, 32 were ultimately included in the analysis. Our results revealed significant relationships for the constructs associated directly with susceptibility to advertising (advertising viewing attitudes, attention to advertising, celebrity endorsements in advertising, advertising exposure and TV viewing frequency) and for perceived friends' norms (friends' attitudes, social comparisons with friends and communication with friends) with materialism in youth.     

Expressions of Relationship Networking in International Entrepreneurship

The role of networks is a major factor in the internationalization process for entrepreneurs. In this article, we analyze the influence of social networks in international entrepreneurship. We developed a multiple case study based on a qualitative perspective, selecting four fruit exporters from the Brazil’s semi-arid region and used a qualitative and longitudinal design. These firms are among the largest fruit exporters in Brazil. Content analysis was derived by examining organizational documents, bibliographical material, and semi-structured interviews with 30 managers and consultants. We used ATLAS.ti software to analyze the collected material. The major networks were formed with buyers and competitors, affording benefits such as trust and information; relationships were therefore formed in both vertical and horizontal directions. Consequently, and due to their influence on the internationalization process, social networks are considered a relevant subject in international entrepreneurship. Moreover, the expressions of social networking have interfaces with both the exploration of international opportunities and attitude towards risk, as well as the development of competitive features that are the fundamental dimensions of international entrepreneurship. The results reveal that social networks are fundamental to entrepreneurs’ businesses and are strategic for their development and maintenance. Recognition of such role of these networks in international entrepreneurship is the main contribution of this paper.