When consumers struggle: Action crisis and its effects on problematic goal pursuit

When pursuing goals, consumers often face setbacks that force them to reevaluate their goals. Yet, current goal theory offers limited explanations for how people respond to recurring challenges and disengage from their goals. Through five experiments investigating three primary theoretical aims, this research extends the field's understanding of action crisis, a possible goal pursuit stage marked by internal conflict over whether or not to continue, and investigates it in consumption contexts such as patient–physician relationships, weight loss diets, and environmentally friendly purchasing. Experiments 1A–1C show that consumer action crisis encourages more disengagement‐related and less continuation‐supportive cost–benefit thinking than nonproblematic action phase. Experiment 2 replicates this cognitive shift, and connects action crisis to diminished goal‐related evaluations and weakened commitment. Experiment 3 further clarifies action crisis’ influence on consumer goal pursuit by revealing decreased cognitive and behavioral engagement that does not involve a shift in construal level when compared to action phase consumers. Extending understanding of action crisis as a possible mindset and action phase, these five experiments advance goal disengagement theory by connecting changes in cognition, motivation, and behavior to action crisis.     

The experience sampling method: examining its use and potential in tourist experience research

Though a valid and widely used approach in leisure, recreation, and psychology, the experience sampling method (ESM) is rarely used in tourism studies as a way to collect data on immediate conscious experiences during tourist events. This paper examines the use of ESM as it relates to tourist experience research. We begin by introducing ESM before exploring the application of this method to emerging smartphone technology. We then introduce a research approach, which incorporates the use of a digital ESM modified to act as a predominantly qualitative procedure, using voice recording software, to study the experience of educational tourists in Peru. The data gathered using this approach are analysed to examine the application and operational aspects of ESM. We consider the methodological implications of this research method by presenting findings on the length of qualitative discussions, reported mood, qualitative content related to ESM procedures, and post-trip recollection of ESM. The discussion that follows focuses on evidence of participant burden, reactivity, and anthropomorphism related to the use of smartphones as data collection tools. This paper concludes by outlining future research areas, with specific reference to spatial aspects, affect, and smartphone use, which expand the potential of ESM in tourist experience studies.     

“Unprecedented,” “extraordinary,” and “we're all in this together”: Does advertising really need to be so tedious in challenging times?

As government-mandated lockdowns and steep declines in trade set in because of the COVID-19 pandemic, a common theme became apparent in the advertising of the time: It was all the same. Regardless of the product category or brand personality, many ads were remarkably similar. They began with melancholy music, voiceovers reminding the audience that the brand is here for them, and referred to these times as “unprecedented” and “extraordinary.” Ads reassured viewers that “together, we can get through this.” In this installment of Marketing & Technology, we articulate the problem of advertising sameness and explore how and why it likely arises during a time of crisis. We then discuss why advertising uniformity is a problem and present a series of strategic, media, and creative considerations—taking into account the constraints of a crisis— to help marketing professionals produce more effective advertising in the context of a disaster.     

Forecasting the Australian economy with DSGE and BVAR models

Reflecting the importance of commodities for the Australian economy, we construct a dynamic stochastic general equilibrium (DSGE) model of the Australian economy with a commodity sector. We assess whether its forecasts can be improved by using it as a prior for an empirical Bayesian vector autoregression (BVAR). We find that the forecasts from the BVAR tend to be more accurate than those from the DSGE model. Nevertheless, for output growth these forecasts do not outperform benchmark models, such as a small open economy BVAR estimated using the standard priors for forecasting. A Bayesian factor augmented vector autoregression produces the most accurate near-term inflation forecasts.     

Benchmarks in the spotlight: The impact on exchange traded markets

The Fix for precious metals is a global pricing benchmark that provides pricing and liquidity provision for market participants. We exploit the gradual change in the century old auction process to quantify the efficiencies related to more transparent pricing. Our focus is in the market impact of this change on exchange listed products. We find that reforms to the Fix have reduced quoted and effective bid-ask spreads and improved overall market depth. The results imply a positive spillover effect stemming from timelier and more accurate pricing information. The conditions under which we observe the benefits from transparency are related to product liquidity and the degree of market segmentation.     

Ireland's Experiments with Pseudo-Keynesianism

How stands the Irish economy? Sean Barrett of Trinity College, Dublin examines the economic problems facing Mr Haughey's government.     

Aviation and the Pursuit of Contestability

Pro-contestability policies are required to promote efficient airlines. The problem is acute in Europe where protectionist policies have led to high-fare, low-profit, low-productivity airlines and a steady loss of market than of world aviation to the low-cost profitable airlines of the Asia-Pacific region.