Positive uncertainty: the benefit of the doubt in advertising

Positive uncertainty refers to uncertainty surrounding an anticipated positive outcome. It provides consumers with the opportunity to imagine and speculate on a product's or experience's potentially positive characteristics. Research has shown that when uncertainty is associated with something positive, consumers may prefer uncertainty to certainty. In a between-subjects experimental design with a large US (n = 446) and Japanese sample (n = 453), the present study demonstrates that positive uncertainty increases consumers’ positive feelings when they evaluate a product, particularly for high-involvement products that allow consumers to imagine and speculate about potentially positive product benefits. Unexpectedly, the study findings are consistent across the two different markets, which vary substantially in terms of consumers’ level of uncertainty avoidance. Specifically, results show that future-framed advertisements are effective in generating positive uncertainty and that positive uncertainty generates positive attitudes, both in countries scoring high (Japan) and low (USA) on uncertainty avoidance.     

The Pattern of Intraday Portfolio Management Decisions: A Case Study of Intraday Security Return Patterns

This article examines causes of observed stock trading patterns that show high hourly returns and trading volume during early and late trading hours. Using time-stamped data from an institutional investor, we document high levels of portfolio managers' early-morning and late-afternoon decisions to trade that can result in the volume pattern and relatively higher proportions of buy decisions that could contribute to the return pattern.     

Financing and other issues in telecommunications development

Implementation of telecommunications infrastructure throughout developing countries is a prerequisite to national development. The fundamental question, argues Dr Parker, is how can developing countries pay for the capital investment in the necessary telecommunications equipment. The need is to encourage an institutional structure that can stimulate innovative, lower-cost appropriate rural telecommunications technologies without imposing excessive risks on the national telecommunications monopoly. With sucessful models to follow, it will be easier to achieve consensus between developing country borrowers, international lenders and telecommunications manufacturers.     

Uncertainty and stress in an R&D project environment

Abstract
R&D project managers work in an environment in which the uncertainty and complexity of engineering development problems are an important source of episodic job stress. A study of the US. Navy's top major project R&D managers (N = 118) was conducted to test the use of various coping skills and social support as preventive stress management techniques for this population. It was found that perceived environmental uncertainty (PEU) had a direct, positive effect on psychological distress of these project managers while social support had a therapeutic effect on their experience of burnout. While problem focussed coping had a small, positive effect on burnout, neither coping skills nor social support were found to have a primary prevention effect upon perceived environmental uncertainty (PEU).
Engineering managers engaged in high technology R&D are confronted by a wide range of uncertainties, risks and changing demands that give rise to the stress response with its attendant physiological and psychological changes (Asterita, 1985). Adams (1980) has argued that an episodic versus chronic dichotomy of stressors is valuable because it distinguishes between intermittent stressors of finite duration (episodic) and ongoing stressors of indeterminant duration (chronic). This article reports the results of a study of uncertainty as an episodic work stressor for the U.S. Navy's high technology R&D project managers. The results suggest that R&D project managers should develop social support systems and structures to maintain well-being and avert distress and strain.     

THE RE-MONETARIZATION OF WELFARE BENEFITS: Entitlements, liabilities and transaction costs in the relationship between citizens and public agencies: the US EBT system and the outlook for European citizen cards

ABSTRACT*: The revolution in transaction costs brought about by new technology can make it economically efficient to restore purchasing power to citizens in the case of in-kind benefits. Analysis of the economic and institutional evolution of the US electronic benefit transfer (EBT) experience shows that a system of welfare payments can evolve either towards monopolistic (or semi-monopolistic) solutions promoted by government or towards competitive, open-market solutions. The EBT system has addressed the diseconomies created by the high proportion of unbanked citizens among welfare recipients by creating electronic pseudoaccounts for the unbanked piggybacked on the commercial payments infrastructure. The EBT card is the first obligatory payment card to be issued by a government, albeit through the intermediary of a government-designated issuer (GDI). Moving to chip cards, the problems posed by setting up a large-scale network of terminals and the fact that 'universal' welfare cards are born as 'natural' government monopolies may lead banks, governments and central banks to consider the great economies of scale and of critical mass for migration that can be offered by combining various functions in a single, universally distributed 'citizen card'. Starting with health care, European citizen cards could gradually take over functions such as the transfer of benefits to specific groups of citizens, payment for other public services, payment of national and local taxes, and payment for utilities. This would make explicit the level of subsidization now implicit in the provision of benefits in kind. The clear indication of deductions, reimbursements and subsidies in the context of payment would mark a considerable advance in the transparency of the welfare market.     

Metropolitan suburbanization and central city problems

This paper is an empirical study of effects of central city problems on population and employment suburbanization. It is widely believed that high crime, high taxes, and large minority groups in central cities are important causes of rapid suburbanization of U.S. metropolitan areas. A large set of density functions is estimated for population and employment in U.S. metropolitan areas in 1960 and 1970. Thus, relative central city and suburban measures of crime, taxes, etc., are used in an interactive model to explain population and employment suburbanization. It is found that only racial minorities have an effect on suburbanization.