The relationship between cultural values and learning preference: the impact of acculturation experiences upon East Asians

Globalization and technology advancement are creating more biculturalism at workplaces and learning settings. However, little is known about acculturation experience and its influence on a person's cultural values and learning preference. The research reported in this study investigates the impact of acculturation experiences upon the relationship between cultural values and learning preference of 292 Far East Asians (from Confucian‐influenced societies) and Asian Americans. Different preferences for learning methods and different levels of traditional cultural values were found between these two groups of adult learners. Acculturation experience was identified as the influential factor for the differences. However, they all still retain their traditional cultural values in various degrees regardless of the length of time the individual had been exposed to the acculturation experience. The impact of cultural values on an adult's learning preference is an area of concern in cross‐cultural training and development.     

Comment on “A new simple square root option pricing model”

Câmara A. and Wang Y.‐H. ( 2010 ) introduce a simple square root option pricing model where the square root of the stock price is governed by a normal distribution. They show that their three‐parameter option pricing model can outperform the Black–Scholes option pricing model. We demonstrate that their assumption possesses an internal inconsistency in that the square root of the stock price can take on negative values. We generalize and revise their assumption so that the internal inconsistency can be avoided, and introduce a new square root option pricing model. The difference in option prices calculated from the two models may not be trivial. © 2011 Wiley Periodicals, Inc. Jrl Fut Mark     

Consumer workers as immaterial labour in the converging media markets: three value‐creation practices

This paper takes a practice‐based approach to consumer studies and focuses on the strategic and productive roles that consumers play as immaterial labour or consumer workers in the converging media markets. Based on a case study of a print media organization and its customers, the aim is to discuss the collaborative practices through which value is created in the market. By means of a textual analysis of online and interview data, three value‐creation practices are abstracted and illustrated: constructing a sense of belonging and collective identity, mutual helping and peer support, and building pride and self‐respect. Overall, the paper suggests that in global media environments, consumer‐customers are playing increasingly significant strategic roles in the practices and processes through which value is co‐created in the market. It is therefore concluded that the idea of consumers, and media audiences in particular, as recipients of communication and targets of marketing activities needs to be problematized and the dynamic strategic roles that consumers currently play in the market need to be acknowledged and actively incorporated into the business praxis of media corporations.     

Hotel revenue management and the Internet: The effect of price presentation strategies on customers’ willingness to book

A decision that is intrinsic to the application of hotel best available rate (BAR) pricing is how to present the BARs for individual nights within a multiple-night stay to prospective hotel guests. We discuss two alternative price presentation strategies, a blended and a nonblended rate approach, and examine their effect on customers’ willingness to pay in the context of Internet-based reservation requests. Study findings indicate that a nonblended rate presentation approach generates higher willingness to book ratings than a blended rate presentation approach. Furthermore, when it comes to nonblended rates, familiarity with BAR pricing moderates the effect of rate sequence on customers’ willingness to book.     

Anticipation of Auction Fever: Entry Decision,Reserve Price and the Choice of Auction Design

This paper analyzes the entry decision of rational bidders who expect to experience auction fever in English auctions. It shows that nonparticipation decision reduces seller's expected profit and this effect may outweigh the positive effect of the auction fever. We analyze the choice between English and second‐price sealed‐bid auctions and the optimal reserve price in English auctions. We show that it might be optimal for the seller to set a reserve price below her own valuation of the object. Finally, we show that the order in which bidders place their bids matters and the first bidder always has an advantage. Copyright © 2011 John Wiley & Sons, Ltd.     

Can Banks Self‐Regulate? Voluntary Agreements,Intrinsic Motivation and Games

This article argues that lessons on how to achieve a sustainable financial system can be learnt from the work done on sustainable commons (on common‐pool resources – CPRs – where there is no ‘tragedy of the commons’). Existing approaches to financial regulation may not give proper attention to available solutions. The article proposes that innovative solutions could be tested using experimental methods commonly used in CPRs: repeat run, feedback driven games.