Business Commons^™

Is It All In Your Head? How Your Beliefs About Money Influence Your Financial Behavior, Patricia T. Gouveia

Association of Marketing Theory and Practice Proceedings 2020

Is It All in Your Head? How Your Beliefs About Money Influence Your Financial Behavior

Patricia T. Gouveia

Florida International University

ABSTRACT

Research suggests that many consumers struggle with financial decision making. According to the Federal Reserve (2018), Americans accumulated a staggering $1.027 trillion in revolving credit in 2017 and one-quarter of the non-retired population reported having no retirement savings or pensions. This data underscores the importance of academic research that sheds light on the factors that might impact consumer financial behavior, such as savings, investing and budgeting. To fulfill this goal, the present research examines how expectations of social …

The Effect Of Behavioral Traits And Background On Engineering Students’ Decision-Making Process Compared To Business Students, Joe Scott

Williams Honors College, Honors Research Projects

This paper looks to narrow down the reasons that students undertake new credentials, specifically in sales fields. With a focus on character traits and upbringing, the goal is to ensure that there is a better understanding of the reasons that people undertake these credentials. The different benefits of credentials will be analyzed to determine the most influential reason that people would be willing to move forward. The combination of these factors will be used to provide recommendations of the best way to reach and influence the decision of the engineering students.

Enterprise Marketing Automation Software Selection, Anju Babu

Engineering and Technology Management Student Projects

Enterprises devote a large amount of time and effort in selecting software products that are critical to their competitive advantage, and one such software is the marketing automation software. The paper discusses in detail the different criteria and methodology for selecting one marketing automation software product among the leading products available in the market.

The selection process was identified as a multi-criteria decision-making (MCDM) problem and the methodology used for analysis was Hierarchical Decision Model (HDM), a variation of Analytic Hierarchy Process (AHP). Nine experts with different backgrounds in terms of job functions, functional experience, and geographies, who had expertise …

To Give Or Not To Give? Choosing Chance Under Moral Conflict, Stephanie C. Lin, Taly Reich

Research Collection Lee Kong Chian School Of Business

Although prior research suggests that people should not prefer random chance to determine their outcomes, we propose that in the context of prosocial requests, a contingent of people prefer to rely on chance. We argue that this is because they are conflicted between losing resources (e.g., time, money) and losing moral selfregard. Across five studies, in both choices with binary outcomes (whether to volunteer) and ranges of outcomes (how much to donate), some people preferred to be randomly assigned an outcome rather than to make their own choices. This did not negatively affect prosocial behavior in binary choices and improved …

Moral Traps: When Self-Serving Attributions Backfire In Prosocial Behavior, Stephanie C. Lin, Julian J. Zlatev, Dale T. Miller

Research Collection Lee Kong Chian School Of Business

Two assumptions guide the current research. First, people's desire to see themselves as moral disposes them to make attributions that enhance or protect their moral self-image: When approached with a prosocial request, people are inclined to attribute their own noncompliance to external factors, while attributing their own compliance to internal factors. Second, these attributions can backfire when put to a material test. Studies 1 and 2 demonstrate that people who attribute their refusal of a prosocial request to an external factor (e.g., having an appointment), but then have that excuse removed, are more likely to engage in prosocial behavior than …

Sidestepping The Rock And The Hard Place: The Private Avoidance Of Prosocial Requests, Stephanie C. Lin, Rebecca L. Schaumberg, Taly Reich

Research Collection Lee Kong Chian School Of Business

For some, facing a prosocial request feels like being trapped between a rock and a hard place, requiring either a resource (e.g., money) or psychological (e.g., self-reproach) cost. Because both outcomes are dissatisfying, we propose that these people are motivated to avoid prosocial requests, even when they face these requests in private, anonymous contexts. In two experiments, in which participants' anonymity and privacy was assured, participants avoided facing prosocial requests and were willing to do so at a personal cost. This was true both for people who would have otherwise complied with the request and those who would have otherwise …

Examining The Use Of Nutrition Information On Restaurant Menus, Courtney Droms Hatch

Courtney M. Droms

Over the past decade, the world has been facing an obesity epidemic. In the popular press and certain governmental and public policy circles, this seems to be attributed to the marketing efforts of fast-food and chain restaurants. As a solution to this problem, many have proposed increasing the amount of nutrition information available to the public by adding nutrition information to restaurant menus and menu boards. However, some debate has ensued about the use and function of this nutrition information. Specifically, this research attempts to uncover whether consumer actually use the nutrition information to aid their decision-making process. In two …

The Model Of Network Carriers' Strategic Decision Making With Low-Cost Carrier Entry, Tamilla Curtis, Dawna Rhoades

Dr. Tamilla Curtis

"After deregulation in the United States in 1978, airlines faced intense competition on previously regulated routes. The proponents of deregulation stated that equilibrium in the industry would be achieved by providing lower fares and improved service (Daraban and Fournier, 2008). While this became true to some extent, the airline network in the U.S. was dominated by the hub-and-spoke system and concentrated in the hands of few large airlines. The emergence of the Low-Cost Carrier (LCC) model, which originated in the U.S. through Southwest Airlines in the early 1970s, became an instrument to drive the airlines towards a competitive equilibrium. The …

The Model Of Network Carriers' Strategic Decision Making With Low-Cost Carrier Entry, Tamilla Curtis, Dawna Rhoades

Dr. Tamilla Curtis

No abstract provided.

Successful Operating Strategies In The Performance Of U.S.-China Joint Ventures, Gregory E. Osland

Gregory E. Osland

Evaluations of the performance of international joint ventures (IJVs) in China have produced mixed conclusions. This study sought to uncover performance criteria used by various groups of managers and to identify critical factors in IJV performance in China. Using in-depth case studies, matched data were collected from personal interviews with managers from Chinese and U.S. parent companies, joint venture operating managers from both partners, and government officials from both countries. The performance criteria used by joint venture participants appear to be converging, with profitability emerging as the dominant element. This exploratory study uncovered four important strategic factors in the performance …

I Follow My Heart And We Rely On Reasons: The Impact Of Self-Construal On Reliance On Feelings Versus Reasons In Decision Making, Jiewen Hong, Hannah H. Chang

Research Collection Lee Kong Chian School Of Business

Results from six experiments support the hypothesis that an accessible independent self-construal promotes a greater reliance on feelings in making judgments and decisions, whereas an accessible interdependent self-construal promotes a greater reliance on reasons. Specifically, compared to an interdependent self-construal, an independent self-construal increases the relative preference for affectively superior options as opposed to cognitively superior options (experiments 1A and 1B) and strengthens the effects of incidental mood on evaluations (experiment 2). Further, valuations of the decision outcome increase when independent (interdependent) consumers adopt a feeling-based (reason-based) decision strategy (experiment 3). Finally, these effects are moderated by decision focus (whether …

The Model Of Network Carriers' Strategic Decision Making With Low-Cost Carrier Entry, Tamilla Curtis, Dawna L. Rhoades

Publications

No abstract provided.

The Model Of Network Carriers' Strategic Decision Making With Low-Cost Carrier Entry, Tamilla Curtis, Dawna L. Rhoades

Publications

"After deregulation in the United States in 1978, airlines faced intense competition on previously regulated routes. The proponents of deregulation stated that equilibrium in the industry would be achieved by providing lower fares and improved service (Daraban and Fournier, 2008). While this became true to some extent, the airline network in the U.S. was dominated by the hub-and-spoke system and concentrated in the hands of few large airlines. The emergence of the Low-Cost Carrier (LCC) model, which originated in the U.S. through Southwest Airlines in the early 1970s, became an instrument to drive the airlines towards a competitive equilibrium. The …

The Impact Of Attitudinal Ambivalence On Weight Loss Decisions: Consequences And Mitigating Factors, My Bui, Courtney M. Droms, Georgiana Craciun

Marketing & Business Law Faculty Works

This research takes a new look at individuals' attitudes and intentions towards losing weight. Study 1 examines the relationship among those interested in losing weight and individual self-evaluative ambivalence on attitude towards trying to achieve a weight loss goal and the intentions to achieve the weight loss goal. For Study 2, a between-subjects experimental design, where attitudinal ambivalence and prior outcome feedback were manipulated and self-efficacy was measured, is conducted to examine attitude towards eating healthier and intention to change eating behaviours. Findings across the two studies show that attitudinal ambivalence about the self and the individual's abilities and motivation …

Can Consumers Make Affordable Care Affordable? The Value Of Choice Architecture, Eric J. Johnson, Ran Hassin, Tom Baker, Allison T. Bajger, Galen Treuer

All Faculty Scholarship

Starting this October, tens of millions will be choosing health coverage on a state or federal health insurance exchange as part of the Patient Protection and Affordable Care Act. We examine how well people make these choices, how well they think they do, and what can be done to improve these choices. We conducted 6 experiments asking people to choose the most cost-effective policy using websites modeled on current exchanges. Our results suggest there is significant room for improvement. Without interventions, respondents perform at near chance levels and show a significant bias, overweighting out-of-pocket expenses and deductibles. Financial incentives do …

Adding Small Differences Can Increase Similarity And Choice, Jongmin Kim, Nathan Novemsky, Ravi Dhar

Research Collection Lee Kong Chian School Of Business

Similarity plays a critical role in many judgments and choices. Traditional models of similarity posit that increasing the number of differences between objects cannot increase judged similarity between them. In contrast to these previous models, the present research shows that introducing a small difference in an attribute that previously was identical across objects can increase perceived similarity between those objects. We propose an explanation based on the idea that small differences draw more attention than identical attributes do and that people’s perceptions of similarity involve averaging attributes that are salient. We provide evidence that introducing small differences between objects increases …

To Think Or Not To Think?: A New Perspective On Optimal Consumer Decision Making, Jonathan Hasford

Theses and Dissertations--Marketing and Supply Chain

This research introduces a new theoretical perspective (termed the Adaptive Processing Perspective) that reexamines how consumers should think before making decisions and the optimal outcomes that result. New insights into conscious (“careful deliberation”), unconscious (“sleeping on it”), and intuitive (“going with your gut”) thought processes are provided. Across four studies, empirical evidence demonstrates that consumers can make significantly better decisions by thinking more about routine choices, using their intuition for occasional purchase decisions, and distracting themselves before making major purchase decisions. Specifically, in study 1, increased conscious thought optimized routine decision making due to increases in openness to information. In …

Tradeoffs And Depletion In Choice, Jing Wang, Nathan Novemsky, Ravi Dhar, Roy Baumeister

Research Collection Lee Kong Chian School Of Business

Four experiments examine why choices deplete executive resources. The authors show that the resolution of trade-offs is a driver of depletion effects arising from choice, and the larger the trade-offs, the greater is the depletion effect. The authors also find that choice difficulty not related to trade-offs does not influence the depleting effect of the choices. Finally, the authors find that though people can intuit some depletion effects, they do not intuit that choices or trade-offs within choices might be depleting and therefore fail to predict that larger trade-offs are more depleting.

The Buying Center Concept: Fact Or Fiction?, W. Johnston, Daniel Mcquiston

Daniel H. McQuiston

Focuses on the significance of organizational buying behavior. Importance of purchase decision; Factors affecting collective behavior and performance; Interaction of socioeconomic field.

An Empirical Investigation Of The Evaluative Criteria Of Industrial Buyers, Daniel H. Mcquiston, Rockney G. Walters

Daniel H. McQuiston

A factor analytic methodology is used to measure and interpret the evaluative criteria used by the functional roles represented in an industrial decision making unit during their consideration to purchase a piece of capital equipment. The results of the study indicate that the criteria employed by each decision maker during the evaluation of this equipment varied by functional role. The attributes contained in each evaluative dimension were directly related to each functional role primary job responsibility.

Motivation And Decision Making In City Break Travel, Gerard Dunne

Articles

The demand for city breaks has been one of the major growth areas in travel and tourism in recent years. The city break product is generally considered to be different from other holiday products, particularly in a spatial and temporal context. However marketing strategies targeting this important tourism niche continue to be based on data that is often anecdotal and frequently inaccurate. This book explores the distinctive characteristics of this form of travel and in particular the motivations and decision making involved in taking such trips. The book presents a decision making continuum that highlights the variation that exists between …

Strategic Marketing Plan For San Antonio Urology Medical Group, Incorporated, Victor Choy Ching

Theses Digitization Project

San Antonio Urology Medical Group, Inc. (SAUMG) is a single speciality urologic practice in Southern California comprised of three urologists. The rapid changes occurring in healthcare must be analyzed and strategies developed to enhance the continued growth fo SAUMG and to shape its future.

East Vs. West: Strategic Marketing Management Meets The Asian Networks, George T. Haley, Chin Tiong Tan

Research Collection Lee Kong Chian School Of Business

Strategic management in Asia is different. Decision-making differs from that taught in Western, and even Asian, schools of business. In the last decade, the influence of Japanese management systems on Western management practice has become evident. Though the Japanese economy is the world's second largest, and Japan's population substantial, neither compares with the combined economies and combined populations of non-Japanese Asia. The influence of the most aggressive elements of the non-Japanese Asian business communities, the Overseas Chinese and Overseas Indian Networks cannot help to be felt on Western management practice. This article explains why this difference in decision-making styles exists, …

Consumer Decision Making Styles: A Multi-Country Investigation, Steven Lysonski, Srinivas Durvasula, Yorgos Zotos

Marketing Faculty Research and Publications

Argues that profiling consumer decision-making styles has importance to marketers, advertisers and consumer affairs specialists, but developing an approach to quantify such profiles has been problematic. Reports the application of an instrument known as the consumer style inventory (CSI) to measure these profiles for samples of consumers from Greece, India, New Zealand and the USA. Indicates, from the results, that the instrument seems more applicable to higher income countries than to developing ones. Discusses implications regarding use of the instrument and cross-cultural issues.

Successful Operating Strategies In The Performance Of U.S.-China Joint Ventures, Gregory E. Osland

Scholarship and Professional Work - Business

Evaluations of the performance of international joint ventures (IJVs) in China have produced mixed conclusions. This study sought to uncover performance criteria used by various groups of managers and to identify critical factors in IJV performance in China. Using in-depth case studies, matched data were collected from personal interviews with managers from Chinese and U.S. parent companies, joint venture operating managers from both partners, and government officials from both countries. The performance criteria used by joint venture participants appear to be converging, with profitability emerging as the dominant element. This exploratory study uncovered four important strategic factors in the performance …

An Empirical Investigation Of The Evaluative Criteria Of Industrial Buyers, Daniel H. Mcquiston, Rockney G. Walters

Scholarship and Professional Work - Business

A factor analytic methodology is used to measure and interpret the evaluative criteria used by the functional roles represented in an industrial decision making unit during their consideration to purchase a piece of capital equipment. The results of the study indicate that the criteria employed by each decision maker during the evaluation of this equipment varied by functional role. The attributes contained in each evaluative dimension were directly related to each functional role primary job responsibility.

Voluntary Approaches To Basinwide Water Management, Neil S. Grigg

Colorado Water Issues and Options: The 90's and Beyond: Toward Maximum Beneficial Use of Colorado's Water Resources (October 8)

13 pages (includes illustration).

Contains references (page 11).