Improved Mutual Fund Investment Choice Architecture

Two choice architecture interventions were explored to debias investors' irrational preference for mutual funds with high past returns rather than funds with low fees. A simple choice task was used involving a direct trade-off between maximizing past returns and minimizing fees. In the first intervention, warning investors that “Some people invest based on past performance, but funds with low fees have the highest future results” was more effective than 3 other disclosure statements, including the U.S. financial regulator's, “Past performance does not guarantee future results.” The second intervention involved converting mutual fund annual percentage fees into a 10-year dollar cost equivalent. This intervention also improved investors' fee sensitivity, and remained effective even as past returns increased. Financially literate participants were surprisingly more likely to irrationally maximize past returns in their investment choices.     

Influencing consumer purchase likelihood of organic food

Organic food is a fast‐growing niche market in the US. Information in the marketplace tends to promote organic by describing either the potential benefits from organic methods (positive framing) or the potential negative consequences of conventional agriculture (negative framing). For this research, a survey was designed to test the effect of positive and negative framing on the self‐reported change in purchase likelihood of organic food. Respondents were asked to directly evaluate whether the information in the survey made them more or less likely to purchase organic food, or if there was no change. Over 40% of the respondents reported greater likelihood of purchasing organic as a result of the survey information, and less than 4% said they would be less likely to buy it. Tobit regression results revealed that positive framing and perceived risk from conventional agricultural methods increased the influence of the survey. African‐Americans and those with more prior knowledge of organic methods reported less influence from the survey. Overall, information and knowledge variables had more effect on the impact of the survey than demographic variables.     

Tourism in the Gambia: problems and proposals

This paper analyses the development constraints which confine The Gambia to being one of the poorest countries in the world. The programmes designed to reduce these constraints are outlined. In particular, tourism is identified as an appropriate development strategy. Using primary data, tourism in The Gambia, its development and administration are described in some detail. Althoiugh a prima facie case can be made extolling the virtues of tourism in that country, the industry is beset by a range of problems. The juxtaposition of the country's growing reliance on tourism against increasing stagnation in the sector is a focus of particular concern. Constraints in the tourism sector are identified in the spheres of policy formulation and implementation, capital investment, human resource endowment, existing and potential tourist markets, seasonality issues and product resource base. For each constraint identified, a management strategy is proposed. In essence, the article is an advocation of sustainable tourism development for The Gambia based on long-term holistic planning, including appropriate resource development, community involvement, education and training.     

A tangled web: views of deception from the customer's perspective

While there has been extensive research on deception, extant literature has not examined how deception is processed solely from the customer's perspective. Extensive qualitative interviews were conducted and analyzed to inform the proposed framework. Cognitive dissonance theory and attribution theory are used to frame the process consumers go through when deception is perceived. When consumers perceive deceit, they will consider attribution before determining intentionality. Internal attributions relieve the company of wrongdoing to some extent, whereas external attributions lead consumers to examine several elements of deception including intent. Unintentional deceit will trigger assessments of magnitude, stability, and switching costs; while less is considered when deceit is intentional. The findings of this research are important for advancing theory in relation to deceit and for helping practitioners understand the importance of changing consumer cognitions before consumers decide to change their behavior by discontinuing the relationship.     

Ultimate Fighting Championship Fans: Foundations of Subcultural Stratification

ABSTRACT

The Ultimate Fighting Championship (UFC) is a professional mixed martial arts league around which a subculture of fans has developed. Using a theoretical framework for the study of collectives, this study explored foundations of social stratification within UFC subculture. Multiple modes of qualitative data were collected at a major UFC event. Social stratification was perceived by UFC fans as influenced by an individual's subcultural capital, reflected by their scope and mode of involvement in the UFC subculture; displays of UFC fandom through dress; expression through specialized mixed martial arts (MMA) discourse and knowledge; strategic social media use; and conduct at MMA events. This research also highlights the importance of digital technologies and mediated communication in studying contemporary leisure-centered subcultures.     

The influence of children on parental purchases during supermarket shopping

Children are assuming larger roles in household consumer decisions and have also emerged as independent consumers, thus forming an increasingly powerful market segment. Children can be seen as forming, first, a primary market; second, as influencers on their parents’ decision making; and third, as potential future adult consumers. The second role is the main focus of this paper, centring on supermarket purchases. Using focus groups and in‐depth interviews, this study explores the influence of children on supermarket shopping. Participants included parents and children of families in Midlothian, Scotland. The results showed that children have a significant influence on supermarket product purchases. The factors which influence children's product preferences are analysed, and their ability to relay their choices to their parents is considered.     

Implementing a divergent response? The UK approach to bribery in international and domestic contexts

ABSTRACT

This paper analyses UK domestic bribery. The authors argue that in both domestic and international contexts, cases are not numerically significant but that changes in how the UK government approaches bribery in the international context means that, where once domestic bribery was addressed more rigorously than bribery in the international context, this imbalance may be being steadily reversed. The paper concludes by setting out the implications that this identifiable divergence may have for the effective policing of bribery in the domestic context. The paper makes an empirical and theoretical contribution to the literature on corruption in the UK.