bluuebunny/crossref_metadata_2025_split huggingface dataset:
Human agency and free will: choice and determinism in economics
Authors: Altman Morris 
Published: September 2006

PurposeThe assumption of free will in contemporary economics is an important starting point for socio‐economic analysis in contrast to methodologies which assume that human action is pre‐determined by forces beyond individual control. However, contemporary economic theory is devoid of choice in critical domains with important implication for economic analyses and public policy, given the ancillary assumption of the importance of market forces in determining choice behavior. The purpose of this paper is to argue that freedom of choice exists given traditional constraints such as relative prices and income.Design/methodology/approachThis is a theoretical paper examining the assumption of free will in choice behaviour in economic theory. It makes reference to literature in economics and philosophy that shed light on this critical working assumption in economics.FindingsConventional analysis pays little heed to non economic constraints on human action that affect and delimit but do not preclude free choice or free will. Of vital importance to free will in choice behavior are institutions which delimit the extent of coercion in the decision‐making process.Practical implicationsAn important implication for research is the determination of the necessary and sufficient conditions for the existence of free will in choice behaviour. Given the existence of free will and free choice, individuals are morally responsible for their choices. It is therefore important to determine the extent which free will exists and that which constrains free will in choice behaviour.Originality/valueThis paper challenges the extremes of the free will debate in economics and suggests the boundaries within which free will exists in economic behaviour. It also suggests the welfare implications of limitations on free will where no negative externalities exist.
A hermeneutic of Amartya Sen's concept of capability
Authors: Mathias Nebel , Rendon Teresa Herrera 
Published: September 2006

PurposeSen's notion of capability is often referred to by its standard definition “the various combinations of beings and doings that a person can achieve and value”. But do economists truly understand all what is meant by it? The concepts of agency as well as the notion of capability do not only refer to economics, but also to a rich philosophical tradition of thought. The purpose of this paper is thus to propose a philosophical hermeneutic of the concept of capability.Design/methodology/approachThe notion of capability has been heavily linked first to Aristotle and then to Libertarianism (Nussbaum), but it also have been referred to Marx and recently to Kant (Crocker). It is, in fact, a matter of interpretation, for Sen does not exclusively ground the notion of capability into one or another tradition of thought. The paper proposes to find in Hannah Arendt and Paul Ricoeur some insights to understand the concept of capability.FindingsThe paper hints to a shift by not only measuring capabilities but also directly agency, thought of as the inter‐temporal sphere of effective freedom one as reasons to value. The inclusion of time is precisely what compels us to search for the bearer of capabilities; for the person is the only point that gives and achieve continuity into the constant changes occurring both to the context and to the personal valuation of the capability set.Originality/valueThe hermeneutic gives to the concept of capability an ethical coherence through time it usually lacks both in Sen and in Nussbaum. The paper should be of interest for philosophers and social scientists eager to work or apply the capability approach throughout time.
Could developing countries take the benefit of globalisation?
Authors: Hartungi Rusdy 
Published: September 2006

PurposeTo provide philosophical discussions of various works, thinking of globalisations and new thoughts on how the developing countries might take benefit of globalisation.Design/methodology/approachA wide range of published works, which contain the recent thoughts and debates of the globalisation to developing nations are reviewed, analysed and then critiqued. The authors take some case study examples and evidence from developing worlds, most notably in Indonesia.FindingsAt present, the impact of globalisation will benefit mostly to industrialised countries or MNC's operating in developing countries. Globalisation will bring prosperity to developing world only if industrialised countries and MNC's are willing to adopt a code of conduct, which permits their profit motives to be harmonised with the self‐reliant interest of developing nations.The global rule must be changed in favour of developing countries.Research limitations/implicationsGlobalisation is a very wide issue. This paper only highlights issues related to trade, labour, intellectual property and environment. Not many developing and industrialised countries are taken as case example. Thus, there are still a lot of further research needed to prove its usefulness.Practical implicationsProvide a useful source to the global players like industrialised countries, MNC's. It highlights how industrialised countries might contribute to assist developing countries to catch up in line with globalisation. Also useful to MNC's CEO wants to increase their corporate social responsibility.Originality/valueProvide new taught and suggestion to developing countries, MNC's and industrialised countries. Some evidence, arguments and recommendations have not been discussed in the globalisation debate.
Aging population, emigration and growth in Barbados
Authors: Banik Arindam , Bhaumik Pradip K. 
Published: September 2006

PurposeThe purpose of this paper is to highlight the dual effect of demographic changes and emigration of young people on the economic growth of small Caribbean economies and the serious economic challenges arising therefrom.Design/methodology/approachThe paper develops a theoretical model leading to a hypothesis that is later tested on Barbados.FindingsRising incomes have had very significant demographic changes in Barbados and other small Caribbean economies while proximity to large developed economies have contributed to emigration. Together, these have caused capital outflows from the economies as well as simultaneous shortage of skilled workers and high rates of overall unemployment.Research limitations/implicationsEconomic vulnerability of small states needs further detailed study.Practical implicationsOne implication for the small Caribbean economies is to restructure their labour market through sustained skill development programmes so as to reduce the skill gap between the demand and supply of specific skills.Originality/valueAlthough demographic shifts and their effects are widely studied, this paper highlights the special vulnerability of the small Caribbean economies to lower fertility, ageing and emigration.
Analyzing and managing risks – on the importance of gender differences in risk attitudes
Authors: Schubert Renate 
Published: September 2006

PurposeThis paper seeks to show optimal strategies for firms to cope with analysis and management of risks.Design/methodology/approachEmpirical and experimental studies on gender differences in risk analysis and risk management are reported and assessed.FindingsWomen appear less sensitive to probabilities and more pessimistic towards gains than men. In risk management, women seem to have a comparative advantage with respect to diversification and communication tasks.Research limitations/implicationsEmpirical testing of the hypothesis that mixed teams of senior managers optimize risk analysis and management is still missing. Deeper insights into the optimal structure of men's and women's cooperation with respect to risk analysis and management are missing.Practical implicationsA well established cooperation of men and women at the senior management level appears recommendable for firms which strive for an optimization of their risk analysis and risk management. Furthermore, such cooperation is desirable with respect to a society's perspective.Originality/valueIdentification of gender differences in risk analysis and management are pointed. Such differences matter since analysis and management of risk are decisive issues for firms.
A stochastic process approach in setting the appropriate margin level for the TAIFEX stock index futures
Authors: Chou Jian‐Hsin , Yu Hong‐Fwu 
Published: September 2006

PurposeThe main purpose of this paper is to compute the appropriate margin level for the stock index futures traded on the Taiwan Futures Exchange (TAIFEX) and, then, to examine the appropriateness of the real margin requirement set by the TAIFEX.Design/methodology/approachThis paper develops a new approach assuming the future's prices follow a geometric Brownian motion process. Compared with the extreme value theory that has been intensively used to determine the appropriate futures margin levels, one of the advantages of the present model is no need to specify the frequency at which extremes are taken.FindingsThe evidences indicate that the theoretical margins obtained by the proposed model can provide a more accurate and flexible margin level in accordance with the market volatility.Research limitations/implicationsThe main limitation of this approach is that the natural logarithm of the futures prices is assumed to follow a Brownian motion process. However, such an assumption might not be practical for financial returns.Practical implicationsThe research is helpful for the clearinghouse to set up its margins policy, especially under various conditions of volatility risks.Originality/valueThis paper proposes a theoretical procedure to set an appropriate futures margin for the TAIFEX. This paper also provides a better understanding of Taiwan's futures market that is newly launched and is useful for investors to hedge and speculate.
Enhancing consumer empowerment
Authors: Tiu Wright Len , Newman Andrew , Dennis Charles 
Published: September 2006

PurposeMuch of the literature on consumer empowerment focuses on consumers' efforts to regain control of their consumption processes from suppliers. The purpose is to argue that many suppliers achieve success by trying hard to empower consumers. The mechanism by which this takes place consists of researching and providing what consumers want. Consumers feel empowered when they are able to enjoy the consumption process. This is of particular note in shopping, which is not simply obtaining products but also experience and enjoyment.Design/methodology/approachResearch is examined into the links between firms' efforts to understand what consumers want, atmospheric stimuli, emotions and buying behaviour.FindingsThe paper finds that successful firms' try hard to understand what consumers want and to improve consumer satisfaction and empowerment by providing pleasant marketing environments and apt, relevant information.Research limitations/implicationsThe approach is based on prior literature. The paper examines marketing to consumers in company locations, e.g. stores, malls, restaurants and banks to examine specific evidence of the effects of atmospheric stimuli such as aroma, music and video screen media.Practical implicationsThe paper contends that firms can and do become successful in a competitive arena by providing pleasant environments and information that people want.Originality/valueThe paper shows how consumer empowerment is an important concept. This paper contributes since there is a dearth of writings specifically about consumer empowerment in the marketing literature. Far from the popular view of consumers being manipulated by firms, successful firms try hard to and succeed in empowering consumers in their marketing activities.
Mapping consumer power: an integrative framework for marketing and consumer research
Authors: Denegri‐Knott Janice , Zwick Detlev , Schroeder Jonathan E. 
Published: September 2006

PurposeTo help shape a more cohesive research program in marketing and consumer research, this paper presents a systematic effort to integrate current research on consumer empowerment with highly influential theories of power. A conceptual overview of power consisting of three dominant theoretical models is developed onto which is mapped existing consumer empowerment research.Design/methodology/approachA synthetic review focuses on three perspectives of consumer power: consumer sovereignty, cultural power and discursive power, drawing from sociological, philosophical and economic literature. These models are then applied to consumer research to illuminate research applications and insights.FindingsResearch of consumer empowerment has grown significantly over the last decade. Yet, researchers drawing from a variety of intellectual and methodological traditions have generated a multitude of heuristic simplifications and mid‐level theories of power to inform their empirical and conceptual explorations. This review helps clarify consumer empowerment, and offers a useful map for future research.Research limitations/implicationsResearchers in consumer empowerment need to understand the historical development of power, and to contextualize research within conflicting perspectives on empowerment.Originality/valueThe paper makes several contributions: organizes a currently cluttered field of consumer empowerment research, connects consumer and marketing research to high‐level theorizations of power, and outlines specific avenues for future research.
Consumption as voting: an exploration of consumer empowerment
Authors: Shaw Deirdre , Newholm Terry , Dickinson Roger 
Published: September 2006

PurposeIncreasing numbers of consumers are expressing concerns about reports of questionable corporate practices and are responding through boycotts and buycotts. This paper compares competing theories of consumer empowerment and details findings that examine the applicability of the theory to “ethical consumer” narratives. The nature and impact of consumer empowerment in consumer decision making is then discussed.Design/methodology/approachThe study takes an exploratory approach by conducting semi‐structured in‐depth interviews with a purposive sample of ten consumers. These were recruited from an “ethical product” fair in Scotland.FindingsResults indicate that the participating consumers embraced a voting metaphor, either explicitly or implicitly, to view consumption as an ethical/political domain. Setting their choices within perceived collective consumer behaviour, they characterised their consumption as empowering. This results in an ethical consumer project that can be seen as operating within the market. It, therefore, suggests some tensions between consumer power and sustainable living.Research limitations/implicationsThis small‐scale study relates to a single country and location. A particular group of accentuated consumers was recruited. Studies of the narratives of other consumer groupings would clearly be valuable.Practical implicationsTo the extent that political democracy is perceived as failing, it appears that the profile of the market as a site of consumer engagement is raised. Marketers would be wise, therefore, to take increasingly account of “empowered” consumers.Originality/valueLittle attention has been paid to the theory of consumption as voting. However, a continuing rise in the consideration of ethics among consumers and producers suggests its rehabilitation and further exploration would be worthwhile.
Brand community of convenience products: new forms of customer empowerment – the case “my Nutella The Community”
Authors: Cova Bernard , Pace Stefano 
Published: September 2006

PurposeTo analyse the power that a virtual brand community exerts over a brand of a mass‐marketed convenience product. To draw implications about the strategy that a company can employ facing this power shift. To track emerging trends in virtual brand communities applied to convenience product (as opposed to niche or luxury goods).Design/methodology/approachCase study of the web community “my Nutella The Community” promoted by the firm Ferrero in Italy. The study applied multiple methods and was conducted through interviews with key informants, netnography and document analysis.FindingsThe virtual community that gathers around a convenience product brand shows a new form of sociality and customer empowerment: it is not based on interaction between peers, but more on personal self‐exhibition in front of other consumers through the marks and rituals linked to the brand. The company should play the role of non‐intrusive enabler of these personal expressions, reducing its control over the brand's meanings.Originality/valueThe literature on brand community has traditionally focused on communities born around niche or luxury brand (Harley Davidson, Mercedes, Saab). The paper deals with a mass marketed convenience product like Nutella (the worldwide famous hazelnut spread), showing noteworthy differences that would advance current knowledge on brand communities and customer empowerment.
The evolution of the empowered consumer
Authors: Davies Andrea , Elliott Richard 
Published: September 2006

PurposeAn oral history to examine the evolution of the empowered consumer and brand consciousness from 1918 to 1965 as a critical analysis of mass consumer culture in Britain.Design/methodology/approachThe authors trace the changing experience of consumer empowerment and importantly show oral testimony (oral history) as a method able to reveal the complexities of this experience.FindingsWomen locate increased choice and responsibility within changing marketing and retailing systems (including self‐service, branding and the media). The authors show how increased choice and responsibility was often experienced (at least initially) as challenging or confusing.Originality/valueThe study identifies that empowerment is a complex or paradoxical process. It provides empirical support for a growing number of claims that have challenged the linear benefit assumptions given to increased choice arising from classic economic theory and outline a model of the paradox of the evolution of the empowered consumer.
“Mothers of invention”: maternal empowerment and convenience consumption
Authors: Carrigan Marylyn , Szmigin Isabelle 
Published: September 2006

PurposeThe paper explores how the complex relationship between consumption and production evolves as women enact their roles as mothers, and reconstruct their self‐identity through their use or avoidance of convenience products.Design/methodology/approachQualitative, individual interviews are used to allow an in‐depth analysis of the life stories of the group of respondents. An interpretive analysis reveals the purpose, patterns and rules followed by these individuals in their actions.FindingsConvenience consumption empowers these “mothers of invention” to instrumental and emotional autonomy through their rejection of unnecessary drudgery, and enables them to negotiate the role of caretaker within the family.Research limitations/implicationsThe implications of the study suggest that there is a role for marketing to remove any vestiges of guilt in convenience consumption by addressing the issues of sustainability, nutrition, quality and value in convenience products. Future research should investigate whether these findings resonate cross‐culturally and across broader socio‐economic groups.Originality/valueThe paper reveals the importance of reinforcing the connections between a better quality of family care and love. The paper also demonstrates the importance of the interactions of the family members on convenience consumption. These findings are important for marketing practitioners and academics researching family consumption.
Graduate development programmes and satisfaction levels
Authors: McDermott Edel , Mangan John , O'Connor Marion 
Published: September 2006

PurposeThe purpose of this paper is to examine the perceived progress of graduates who have been recruited by organisations and to assess their expectations and corresponding satisfaction levels. Drawing on the psychological contract and graduate development literature, the objective of the study was to compare the opinions of graduates from an organisation that offers a graduate development programme (GDP) to graduates from an organisation that does not offer such a programme.Design/methodology/approachIn this paper there are interviews with HR managers, coupled with the design and distribution of a questionnaire to 126 graduates in two organisations with a response rate of 71 per cent (89 completed questionnaires).FindingsInteresting findings emerged from the research that suggest that while GDPs do have merit, they do not appear to result in graduates who are more satisfied. In fact the opposite appeared to be true. From the sample, it emerged that organisations that employ these programmes have graduates who are less satisfied than their counterparts in organisations with no such programmes.Practical implicationsA number of practical implications and recommendations were identified from the study, including the importance of monitoring graduate expectations and satisfaction levels, introducing short‐term development plans, re‐evaluating the terms of reference of the GDP and providing specific training for supervisors/managers of graduates. To ensure that GDPs play a positive part in ensuring the organisational commitment of the graduate, they must be carefully developed and managed.Originality/valueThe paper offers insights into satisfaction levels regarding GDPs.
Extrinsic cues and perceived risk: the influence of consumption situation
Authors: Aqueveque Claudio 
Published: September 2006

PurposeThis paper aims to investigate the influence of consumption situation on the use of extrinsic cues, such as price and expert opinion, in the assessment of different types of risk associated to purchase decisions.Design/methodology/approachAn experimental design was conducted in a sample of 128 postgraduate students, using red wine as product category. The experiment manipulated consumption situation, price, and expert opinion about the product. Different types of risks associated with the purchase decision and purchase intention were then measured.FindingsResults suggest that consumption situation affects the use of price in the assessment of performance risk, but only in the case of negative expert opinion about the products. Additionally, expert opinion demonstrated to have a strong effect reducing performance risk and increasing intention to buy.Research limitations/implicationsThe main limitations of the present research are associated with the exploratory and inconclusive characteristic of the performed mediation tests, and the use of just one product category in the research. Future research should replicate the study in other product categories and include other types of extrinsic cues.Practical implicationsManagers should consider the complex effects of price on the assessment of risks related with a purchase, and the effect of consumption situation on the process. In addition, managers should use positive expert opinions in advertising and point‐of‐purchase material.Originality/valueThe study analyzes the influence of consumption situation on consumers' use of different extrinsic cues to assess risks associated with the purchase of uncertain quality products.