The influence of positive affect on consideration set formation in memory-based choice

Although prior research has examined whether positive affect can impact consideration set size in stimulus-based choice, unknown to this point is whether affective influences also characterize memory-based consideration processes. This distinction is important insofar as consideration in memory-based choice entails psychological processes (including those involving the accessibility of brands) that are unique to choice undertaken in memory-based settings. Experiment 1 provides an initial demonstration of positive affect’s ability to shape memory-based consideration by documenting that positive (versus neutral) affect leads to larger consideration sets. Two additional experiments extend these findings by showing that the influence of positive affect on consideration set size is moderated by characteristics of brands (typicality) and consumers (regulatory focus). Experiment 2 demonstrates that this increase in memory-based consideration set size is attributable to a greater number of atypical, but not typical, brands being considered under positive affect. Experiment 3 documents the moderating effect exerted by consumers’ regulatory focus by showing that the ability of positive affect to increase consideration set size is more likely for consumers high (but not low) on promotion focus. The theoretical and managerial implications of these findings are discussed as are suggestions for future research.     

VOLUNTARY WORK AND WAGES

The effects of voluntary work on earnings have recently been studied for some developed countries such as Canada, France and Austria. This paper extends this line of research to Italy, using data from the European Union Statistics on Income and Living Conditions (EU‐SILC) dataset. A double methodological approach is used in order to control for unobserved heterogeneity: Heckman and IV methods are employed to account for unobserved worker heterogeneity and endogeneity bias. Empirical results show that, when the unobserved heterogeneity is taken into account, a wage premium of 2.7 percent emerges, quite small if compared to previous investigations on Canada and Austria. The investigation into the channels of influence of volunteering on wages gives support to the hypotheses that volunteering enables the access to fruitful informal networks, avoids the human capital deterioration and provides a signal for intrinsically motivated individuals.     

Futures-Style Options on Euro-deposit Futures: Nihil sub Sole Novi?

Euro-deposit futures play a relevant role among the derivative products traded in official markets. As opposed to most futures contracts, the underlying instrument is not represented by a traded asset but by a linear transformation of an interest rate, the Libor. The options written on Euro-deposit futures that are traded at the London International Financial Futures & Options Exchange (LIFFE) are subject to daily marking to market, as the underlying futures; thus, they are called futures-style options or pure futures options. These options are often priced with the Black (1976) formula, whose use entails several shortcomings. A more realistic alternative is represented by the univariate Cox, Ingersoll and Ross (1985) model. The closed-form solutions for the prices of Euro-deposit futures and futures-style options on Euro-deposit futures obtained in the CIR model are two major original contributions presented in this paper. Other original contributions involve the determination of the relation between futures rates and forward rates and the derivation of the equivalent portfolio for the hedging of futures-style options on Euro-deposit futures.     

Norm violations and the role of marketplace comparisons in positioning brands

This paper investigates how consumer norms regarding the use of marketplace comparisons can influence the effectiveness of positioning strategies. Using an experimental method and student samples, we provide evidence across a set of three studies that comparing a focal brand to an offering from the same product category (i.e., a within-category comparison) represents an expected marketplace tactic, while comparing a brand to a rival from a different category (i.e., a between-category comparison) constitutes a deviation from the norm. Studies one and two utilize an experimental design that manipulates comparison type to demonstrate the effect of norm violations on positioning outcomes. Consistent with the proposed theoretical framework, within-category comparisons were perceived as a more appropriate tactic and were thus more effective in positioning the focal brand than were between-category comparisons. Study three employs a two-factor experimental design to demonstrate the moderating effects of attribute claims. Specifically, the results from this study indicate that the general effect of comparison type established by studies one and two are contingent upon the size of the superiority being claimed in the comparison.     

Pandemetrics: systematically assessing,monitoring, and controlling the evolution of a pandemic

Quality & Quantity - The still ongoing pandemic of SARS-CoV-2 virus and COVID-19 disease, affecting the population worldwide, has demonstrated the need of more accurate methodologies for...