The effects of the experience recommendation on short- and long-term happiness

Previous research has argued that in order to become happier, consumers should prefer experiences over material objects. However, this experience recommendation is based upon measures of short-term happiness. In two empirical studies, we test the experience recommendation for both short- as well as long-term happiness. In line with previous results, it was found that the experience recommendation holds for short-term happiness but data did not support the superiority of the experience recommendation for long-term happiness. More specifically, it was documented that adding a material component to the experience had the best effect upon long-term happiness.     

The International Transmission of Monetary Policy in a Dollar Pricing Model

This paper analyses the international transmission of monetary policy in the case where all export prices are set in US dollars. “Dollar pricing” implies that the international effects of US monetary shocks are different from those of European shocks because of an asymmetric exchange rate pass-through to import prices. A dollar pricing model can explain the observed asymmetry in the transmission of monetary policy: US monetary policy affects US output more than European monetary policy affects European output. I also show that the current account is an important channel through which monetary policy affects welfare. The paper concludes that under dollar pricing a monetary expansion is a beggar-thy-neighbour policy.     

The “You and I” of Happiness: Investigating the Long‐Term Impact of Self‐ and Other‐Focused Happiness‐Enhancing Activities

It is commonly known in the positive psychology literature that people who want to increase their happiness ought to engage in so‐called happiness‐enhancing activities. Building on this stream of research, work that emphasizes the duality of happiness (affect vs. meaning) is introduced in order to propose a new conceptualization of happiness activities. The new conceptualization distinguishes between self‐ and other‐focused happiness activities, and argues for the importance of other‐focused activities over self‐focused ones. Results from a six‐week long study show that other‐focused happiness activities consistently outperformed self‐focused ones in terms of raising participants’ levels of happiness. Although self‐focused happiness activities also increased happiness, by showing increases over time relative to participants’ baseline level, other‐focused happiness activities consistently outperformed such increases.     

The Effect of Information Sources on the Success of the Organizational Buying Process

The objective of this empirical study was to investigate how the use of internal and external information sources influence the success of an organization’s buying process, and how the characteristics of the buying task influence the employment of these information sources during the buying process. Quantitative data were collected by structured interviews among Finnish business organizations early in 2008. The results suggest that the employment by an organization of information provided by a supplier during the buying process has a significant but contradictory influence on the success of the buying process. Furthermore, the complexity, newness, and importance of the buying situation were found to have a significant influence on the employment of different sources of information during the various stages of buying process. Perceived risk of the buying task was found to have no significant effect on the use of different information sources.     

Happiness as a predictor of service quality and commitment for utilitarian and hedonic services

In services research, little attention has been devoted to long‐term intrinsic personality traits. Long‐term personality traits predict short‐term affective states and thus understanding them is important from a service standpoint. Further, identifying long‐term personality traits facilitates the targeting of customers who are predisposed to evaluate services in a positive manner. This study focuses on one long‐term affective trait, happiness, and examines its impact on service evaluation and commitment, as it has been shown that the level of happiness affects whether people perceive life events, both great and small, in a positive or negative manner. Three studies were conducted to research the issue. The first study shows that customers who are happier evaluate service quality in utilitarian services in a more positive manner than do customers who are less happy. The second study shows that for hedonic services, involvement serves as an antecedent to perceived service quality; happier customers are also more involved in hedonic services, and thus perceive service quality in a more positive manner. Study 3 examines the link between happiness and commitment and shows that customers who are happier are also more prone to be committed to hedonic services. These results contribute to the marketing literature by showing that customers are predisposed to evaluate service quality in line with their level of happiness in the case of both utilitarian and hedonic services. Thus, marketing scholars and practitioners ought to recognize that service quality and commitment are partially predetermined by the personality of the customer and that some customers are more difficult to please than others. © 2011 Wiley Periodicals, Inc.     

Existential–Experiential View of Self‐Sourced (In)Authentic Healthcare Identity

In the healthcare context, both nurses and doctors derive their professional identities from diverse backgrounds, thus resulting in two distinct professions. Becoming a leader and forming a leader identity that is separate from a strong professional identity is a difficult task. However, assuming a leader identity is considered an important aspect of actually being a leader, not just a professional with a leader position. The current article explores authenticity in generic healthcare leader identity formation by utilizing the concept of professional identity. Instead of committing to the humanistic ontological roots of the authentic leadership construct, the research analyzes the concepts of self and authenticity from an existential–experiential perspective. A conceptual framework of self‐sourced healthcare identity formation, including leader identity and professional identity, is presented. The framework shows how leader identity originates in the leader's experiencing self‐in‐situation, which is understood as the source of authenticity. The experiencing self, or the self as a subject, is differentiated from the experienced self, or the self as an object, by which professional identities are formed. The conceptualization provides a way of understanding and developing leadership in fields consisting of strong professional identities. The applications of the framework are also discussed.     

Detecting speculative bubbles in an IT-intensive stock market

Using a battery of unit root test procedures and cointegration analysis with alternative null hypotheses we find some evidence of speculative bubbles in the Finnish stock market for monthly data on industry portfolio stock prices and returns from the 1990s. When analyzing the time series behavior of stock market prices and returns against the development of certain macroeconomic fundamentals, the bubbles seem to be present especially in the information technology (IT) prices and only during the latter half of the decade. (JEL C22, G12)