A new measurement procedure for attitudinal research. Analysis of its psychometric and informational properties

Since measurement errors have strong effects in all relationships (statistical or otherwise) studied, there is an increasing interest in the data quality, which is the major justification for this research. This paper aims to present a new measurement procedure, the letter scale, which avoids many of the problems connected with the response modalities traditionally used in attitudinal research, especially the ordinal categorical scales. This paper analyzes the error composition of the scores obtained with this new measurement procedure. The validity of the procedure is also analyzed and the observed variance is assessed to determine which part of the observed variance is “valid”, which part is random error (attenuating relationships) and which is correlated error (magnifying relationships). Structural equation models will be used to provide estimates of the measurement quality: (i) Reliability, (ii) Construct validity, method effect and residual variance. In addition, this letter scale is evaluated under another different perspective, Information Theory measures are also used to assess the amount of information transmitted. The relative merits of this new measurement procedure as opposed to other common response modalities will be discussed in both cases.     

A measurement model for psychophysical scaling

In the literature very little attention has been given to psychophysical scaling, even though this kind of measurement provides many advantages, such as continuous interval scales, more precision, possibilities for easy replications and therefore for correction of measurement error. Besides all kinds of technical reasons one possible explanation for this lack of attention is that the procedures have always been described as completely different from the commonly used measurement procedures. Also, the tests which have been suggested for the quality of the results were quite different from the commonly used procedures. In this paper it will be shown that psychophysical scaling can be formulated in a congeneric test model, i.e., all the commonly used criteria for the quality of measurement instruments like reliability and validity can be applied in the usual way. An illustration of this will be given. Furthermore it will be shown that psychophysical scales are not ratio scales but that they satisfy the requirements of a (log)interval scale.     

Theory in consumer behavior: A status report

This article examines the attitudes of 40 opinion leaders in marketing toward theory in consumer behavior. These individuals exhibited favorable attitudes toward theory in marketing in general. More favorable perceptions of the value of the contributions of theory to consumer behavior existed than for promotion and channels of distribution. In comparison to eight other areas of marketing, the consumer behavior area was perceived as having made the greatest past contribution to marketing thought and the one most likely to make worthwhile future contributions. The sample believed that much future effort was needed in progressing toward a general theory of consumer behavior and that such effort would indeed be forthcoming.     

Can welfare be measured with a preference-satisfaction index?

Welfare in economics is generally conceived of in terms of the satisfaction of preferences, but a general, comparable index measure of welfare is generally not taken to be possible. In recent years, in response to the usage of measures of subjective well-being as indices of welfare in economics, a number of economists have started to develop measures of welfare based on preference-satisfaction. In order to evaluate the success of such measures, I formulate criteria of policy-relevance and theoretical success in the context of preference-satisfaction measures of welfare. I present a detailed case study of the methodological choices put forward in a prominent generalized proposal for measuring welfare through preferences recently published in the American Economic Review. I contrast this with an alternative welfare measure which also uses preferences to weight aspects of welfare: the ICECAP-A measure. I assess the methodology of both approaches in detail and argue that the two goals of a preference measure of welfare can only be satisfied at the expense of making a measure prohibitively costly.     

Measuring the Competitiveness of China's Processed Exports

China's surplus in processing trade remains large. Processed exports are final goods produced using parts and components that are imported duty free. Because much of the value‐added of these exports comes from East Asia, exchange rates throughout the region should affect their foreign currency prices. This paper presents data on value‐added exchange rates for processed exports over the 1993–2013 period and reports that they significantly affect exports. While the renminbi appreciated 36 percent between the beginning of 2005 and the end of 2013, exchange rates in supply chain countries depreciated. This has mitigated the effect of the RMB appreciation on the price competitiveness of processed exports.     

Cash Management, Payment Patterns and the Demand for Money

We analyse cash management and payments behaviour using 1990–1994 panel data for Dutch households. The results largely confirm the transactions demand for money theory, including an income elasticity of substantially less than one, and they are consistent with the hypothesis of technology resulting in households' economizing on currency balances. The results indicate up to 40 per cent lower transactions balances in the future, which is affirmed by direct questioning on future expectations. The effect on total money outstanding is considerably lower, due to significant amounts of missing money in hoards, which are insensitive to new developments in the payments system.     

Genetic and neurological foundations of customer orientation: field and experimental evidence

We explore genetic and neurological bases for customer orientation (CO) and contrast them with sales orientation (SO). Study 1 is a field study that establishes that CO, but not SO, leads to greater opportunity recognition. Study 2 examines genetic bases for CO and finds that salespeople with CO are more likely to have the 7R variant of the DRD4 gene. This is consistent with basic research on dopamine receptor activity in the brain that underlies novelty seeking, the reward function, and risk taking. Study 3 examines the neural basis of CO and finds that salespeople with CO, but not SO, experience greater activation of their mirror neuron systems and neural processes associated with empathy. Managerial and research implications are discussed.     

Networked innovation and coalition formation: the effect of group-based social preferences

In this paper, we study the production and dissemination of public knowledge goods, such as technological knowledge, generated by a network of voluntarily cooperating innovators. We develop a private-collective model of public knowledge production in networked innovation systems, where group-based social preferences have an impact on the coalition formation of developers. Our model builds on the large empirical literature on voluntary production of pooled public knowledge goods, including source code in communities of software developers or data provided to open access data repositories. Our analysis shows under which conditions social preferences, such as ‘group belonging’ or ‘peer approval’, influence the stable coalition size, as such rationalising several stylized facts emerging from large-scale surveys of open-source software developers, previously unaccounted for. Furthermore, heterogeneity of social preferences is added to the model to study the formation of stable but mixed coalitions.     

Risk and savings: A taxonomy

The effect of risk on savings depends not just on preferences but also on the type of risk. This helps to explain why the empirical literature reports positive effects for developed countries but negative effects for developing countries.     

中国品牌不国际

中国是世界当之无愧的贸易大国、制造大国,却同时又是公认的品牌小国. 根据传统经济学,产品是品牌的自然载体,一个有大量自有产品销往全球的国家,应该在世界上有一批具有较强竞争力的国际品牌.然而中国却不符合这一规律.