Dynamic Influences on Individual Choice Behavior

Research examining the process of individual decision making over time isbriefly reviewed. We focus on two major areas of work in choice dynamics:research that has examined how current choices are influenced by the historyof previous choices, and newer work examining how choices may be made toexploit expectations about options available in the future. A central themeof the survey is that if a general understanding of choice dynamics is toemerge, it will come through the development of boundedly-rational models ofdynamic problem solving that lie on the interface between economics andpsychology.     

Price sensitivity,government green interventions,and green product availability triggers intention toward buying green products

In the 21st century, environmental problems are wreaking havoc, and sustainability is now of primary importance. Several external factors like population growth, industrialization, development, and overexploitation of natural resources play a crucial role in environmental degradation. Thus, the present study endeavors to explore the impact of price sensitivity, governments green interventions and green product availability on green buying intention through the lenses of the theory of planned behavior and the theory of consumption values. It also intends to examine the moderating effect of demographic factors on green buying intention. A cross-sectional study was carried out. Responses were gathered through a self-administered questionnaire-based survey. The final data set of 708 respondents were subjected to structural equation modeling for hypothesis testing. Price sensitivity, government green interventions, and green product availability show negative and significant interaction effects. Perceived behavioral control shows a relatively more substantial impact on green buying intention. Indian consumers from the age group of 41–50 years relatively have higher intention toward green buying. Overall, gender does not reveal any different approaches to environmentally friendly products. Green marketers must focus on communicating the availability of green products to reduce perceived difficulty.     

Agricultural modernization and sustainable agriculture: contradictions and complementarities

This paper explores the relations between agricultural modernization and sustainable agriculture. The point of departure is the observable decrease in the sustainability and social–ecological resilience of agricultural and food systems. We ask where, precisely, the notions of agricultural modernization and agricultural sustainability contradict each other. In more concrete terms we ask what forms of modernization makes agriculture more (or less) sustainable. Our literature review shows that while the term ‘sustainable agriculture’, has been extensively debated, the term ‘agricultural modernization’, while carrying a positive and forward-looking connotation, remains poorly defined. To address this gap, we draw on evidence from real-life cases in fourteen countries in an attempt to interpret how the two concepts are perceived in very different contexts. These case studies show that different understandings of modern and sustainable agriculture coexist and that agricultural development follows diverse pathways. We conclude that the growing demands for an agricultural and food system that is more resilient, equitable and inclusive can be met by providing more support for the many divergent trajectories of agricultural modernization that practitioners are actually pursuing: trajectories that are often more attuned to the imperatives of ecology and to changing socio–economic preferences than the classical modernization trajectory.     

Determinants of agricultural entrepreneurship: a GEM data based study

The aim of this study is to explain the determinants of entrepreneurship in agriculture industry. What are the drivers of early stage entrepreneurial activity of agri-business entrepreneur and how it is influenced by various cognitive and social capital factors? To answers these questions various driving factors of entrepreneurial activity have been explored from the literature. To achieve the objective, the study uses APS (Adult Population Survey) 2013 data of 69 countries provided by GEM (Global Entrepreneurship Monitor). Total number of respondents 1470, those who are alone or with others, currently trying to start a new business, including any self-employment or selling any goods or services to others in Agriculture Industry, were selected from the data set. To measure the influence of cognitive and social capital factors on early stage entrepreneurial activity logistic regression was employed. The findings show that those who see entrepreneurial opportunities, are confident in their own skills and ability, having personal relationship or social networks with existing entrepreneurs, and have invested in others business as business angels are more likely to become an entrepreneur. Additionally, fear of failure or risk perception does not prevent people to become entrepreneur. Policy implications have been discussed. This is one the first study of its kind and contributes to the existing literature by explaining agricultural entrepreneurship through an integrated approach of entrepreneurial cognition and social networking.

     

Impact of peer influence and government support for successful adoption of technology for vocational education: A quantitative study using PLS-SEM technique

Quality & Quantity - Government of India (GOI) has introduced Vocational Education and Training (VET) program. Technology adoption along with peer influence and government support are perceived...     

A Survey of Exchange Rate Pass-Through in Asia

Exchange rate pass-through (ERPT) refers to the transmission of exchange-rate changes into import (export) prices of goods in the destination-market currency as well as into aggregate domestic prices. This paper examines the analytical and empirical literature on ERPT with particular reference to Asia. It is generally believed that Asian economies are potentially susceptible to ERPT into domestic inflation since they are highly trade-dependent. Particular attention is paid to production sharing—a key characteristic of Asian trade—and its implications for ERPT.     

Budget or target: the choice between input and output strategies

In many competitive environments, players need to commit either to a specific goal they will achieve (an output target) or to the resources they are willing to expend in pursuit of that goal (an input budget). We model this situation as a two‐stage game where players may compete either by setting input and letting their output follow from the environment (“leading input”), or by setting output and letting the input levels required to support the output targets follow (“leading output”). We show that when each player's output is increasing (decreasing) in his rival's input, leading input (output) dominates leading output (input).     

The future of the red metal—scenario analysis

A regional copper scenario model has been developed from the perspective of the generic Intergovernmental Panel on Climate Change framework for greenhouse gas emissions scenarios for the four world regions: OECD90, ASIA, REF, and ALM. A set of three scenarios: Tech World, Green World, and Trend World, each representing the significant driving forces influencing population and economic growth, technological change and environmental consciousness, is presented. Intensities of copper use converge in the long-term in the Tech and Green World as GDP per capita level approaches $100,000. Global copper use, currently 15 Tg Cu/yr, is expected to rise to 30–130 Tg Cu/yr by the year 2100. The rate of copper use in the ASIA and ALM regions exceeds the copper use in the OECD90 and REF regions beyond 2020. A Green World corresponds to per capita global copper use of 4 kg Cu/(capita-yr) as compared to the contemporary global level of 2.6 and 10 kg Cu/(capita-yr) in developed regions, symbolizing the sustainability theme. For the OECD90 region, the results are more sensitive to the copper intensity of use variable whereas for ASIA and ALM regions, variations in GDP per capita can influence copper use.     

A MODEL OF INTERACTION BETWEEN THE VIRTUAL AND THE REAL ECONOMY

This paper demonstrates through a formal model how the wealth effect created by a stock market boom leads to the expansion of demand and output mostly through debt‐financed private consumption. However, inherent in this expansion is the threat of a subsequent contraction caused by the rising burden of servicing debt and falling creditworthiness. The formal analysis captures more precisely these conditions; it shows that, even in the medium run, the growth rates of the wealth in the stock market and of the real economy may move in opposite directions.     

IPOs with and without allocation discretion: Empirical evidence

Bookbuilding, the dominant offering mechanism for IPOs, is controversial because of the power it gives underwriters over IPO allocations. Critics argue that allocations could be abused to generate kickbacks for underwriters while proponents hold that allocation power could improve pre-market price discovery. We examine underpricing, bidding, and allocations from two regimes in the Indian IPO market with varying underwriter allocation power. When underwriters control allocations, bookbuilding is associated with lesser underpricing, but the effect quickly dissipates when regulations withdraw allocation powers. Using proprietary datasets of IPO books in both regimes, we find that allocation powers are used quite extensively. Identical bids can receive significantly different allocations, which depend not only on the bid but also on the bidder identity. When allocation powers are withdrawn, we find evidence of bidder exit, new bidder entry, and altered bidding strategies with exit by both favored and unfavored bidders. Our evidence supports bookbuilding theories in which giving underwriters allocation powers assists in pre-market price discovery.