Greater Discounting Research Articles

Cross-Period Impatience: Subjective Financial Periods Explain Time-Inconsistent Choices

Abstract Inconsistency in consumer time preferences has been well established and used to explain seemingly short-sighted behaviors (e.g., failures of self-control). However, prior research has conflated time-inconsistent preferences (discount rates that vary over time) with present bias (greater discounting when outcomes are delayed specifically from the present, as opposed to from a future time). This research shows that time-inconsistent preferences are reliably observed only when choices are substantially delayed (e.g., months into the future), which cannot be explained by present bias. This seeming puzzle is explained by a novel cross-period discounting framework, which predicts that consumers are more impatient when choosing between options occurring in different subjective financial periods. As a result, they display inconsistent time preferences and are less willing to wait for an equally delayed outcome specifically when a common delay to both options moves the larger-later option into a subsequent financial period. Six studies and multiple supplementary studies demonstrate that sensitivity to subjective financial periods accounts for time-inconsistent consumer preferences better than current models of time discounting based on present bias.

Використання хмарних технологій навчання у професійній підготовці в закладах вищої освіти

Using cloud technologies in education is one of the factors of development of creative potential and digital competence of students through the using of informative-communicative technologies. Technologies of processing information have undergone great changes with spreading of the Internet network. One of the modern and effective instruments for the decision of tasks of digitalization of educational process are cloud services, the main advantage of which is the absence of expenses, connected with buying, installing and technical support of proper software. Herewith, the great part of software products, used by cloud technologies, is free of charge or spread with great discounts for educational institutions. Using of cloud technologies for the professional preparation of students in the institutions of higher education gives a possibility to do qualitative preparation of competitive specialist. Implementation of different in educational processes gives an impetus to the increasing of informative- communicative competence of students, to understanding of effective directions of development of future profession and creates conditions for wide implementation of cloud technologies. Cloud technologies of study in professional preparation in institutions of higher education give a number of advantages: saving of finances for buying software; reduction of necessity of specialized accommodations; executing of different kinds of studying work, control and evaluation online; saving of disc space; anti-virus, ad-free, anti-hacker safety and openness of educational environment for teachers and students. Besides, the work of computer network in the educational institution is becoming simpler. It is gradually removed functions of storage informational resources and providing its safety.

A systematic review and meta-analysis of delay discounting and cannabis use.

Delay discounting reflects the systematic reduction in the value of a consequence by delay to delivery. Theoretical and empirical work suggests that delay discounting is a key behavioral mechanism underlying substance use disorder. Existing work on cannabis use, however, is mixed with many studies reporting null results. The purpose of this review was to provide an in-depth assessment of the association between delay discounting and cannabis use. We conducted metaregression analyses to determine the omnibus correlation between delay discounting and cannabis use, and to evaluate task-based and sample-based moderators. Studies included evaluated an association between delay discounting and cannabis quantity-frequency or severity measures in human participants (27 studies, 61 effect sizes, 24,782 participants). A robust variance estimation method was used to account for dependence among effect sizes. A significant, but small, omnibus effect was observed (r = .082) in which greater cannabis use frequency or severity was associated with greater discounting. Incentive structure and outcome type were each significant moderators in a multiple moderator model such that incentivized tasks correlated with severity measures showed stronger associations (r = .234) than hypothetical tasks correlated with quantity-frequency measures (r = .029). Comparisons to historic effect size data supported the hypothesis that, at present, the relationship between cannabis use and delay discounting appears empirically smaller than for other substances. Future work should explore theoretical rationales explaining this modest relationship involving cannabis use and delay discounting, such as reflecting the smaller magnitude of perceived long-term clinical outcomes associated with cannabis compared to other substances. (PsycInfo Database Record (c) 2021 APA, all rights reserved).

Using eye‐movements to assess underlying factors in online purchasing behaviors

AbstractThe field of consumer neuroscience allows researchers to account for an individual’s explicit reported behaviors as well as their implicit behaviors that are reflected in the neural mechanisms that occur during the purchase decision phase of a consumer’s online shopping experience. The purpose of the current study was to use eye‐tracking technology in conjunction with self‐report purchase intention data to observe the relative impact of star rating, price, discount, and time pressure on purchase decisions. The results suggest that purchase intention was most affected by star rating, price, and discount with higher purchase intentions on items with higher star ratings, lower prices, and greater discounts. The eye movement data revealed that these factors, as well as time pressure, influenced where consumers directed their attention in making their purchasing decisions. These findings have significant implications for future ecommerce marketing strategy, especially across efforts to increase purchase intention.

Information at finger tips

Information at finger tips” says the agenda of the work very much clearly. Basic idea behind this work is to provide an easy and most suitable way for users to find the information. Today’s generation is keen to gain knowledge, hence this platform will play an important role to help them and to act as a bridge that connects very easily to the required information is our main motive. We’ve considered the issue of Shopping. As there is increasing growth in the cities, the resources have also increased. We can say that for one thing there are multiple options present nowadays. Every citizen wants to be smart buyer where he can make his profit in terms of product quality and great discounts also. To tackle this issue we are building this system where they can search any related information. The operations will be performed in Python3. We will be providing an interface where the information can be accessed. To advance it one step further we will be using a chat bot for any assistance.

Marketing Network of Marine Products Under E-Commerce Mode

Lu, H., 2020. Marketing network of marine products under e-commerce mode. In: Gong, D.; Zhang, M., and Liu, R. (eds.), Advances in Coastal Research: Engineering, Industry, Economy, and Sustainable Development. Journal of Coastal Research, Special Issue No. 106, pp. 267–271. Coconut Creek (Florida), ISSN 0749-0208.The construction of marine product marketing network under the e-commerce mode plays an important role in expanding the marketing scope of marine products and increasing corporate income. This paper first describes the development prospect of e-commerce in China and its impact on marine products; then it analyzes the operation mode and marketing channel management of e-commerce for marine products, as well as the characteristics of the marketing of marine products; moreover, on the basis of the analysis, it summarizes the problems existing in the construction of a marine product marketing network under the e-commerce mode and proposes relevant suggestions. The research finds that the current e-commerce transactions of marine products in China mainly have three modes: setting up online shops on third-party websites; publishing product information on marine product marketing websites; and selling marine products on network platforms built by the e-commerce enterprises themselves. The e-commerce mode can simplify the transaction process of marine products and save the sales cost, while consumers could also enjoy greater discounts; moreover, the e-commerce mode can facilitate government supervision and ensure reasonable operations. For current marine product marketing network construction under the e-commerce mode, there are problems such as insufficient brand building, low utilization of cold chain transportation, incomplete after-sales service, and lack of a standardized system, so the brand building should be strengthened, the logistics service level should be improved, and the processing level of marine products should be enhanced. This paper aims to promote the construction of a marine product marketing network.

Price Promotions Cause Impatience

In this research, the authors propose that incidental exposure to price promotions can cause downstream impatience in an unrelated domain. Specifically, price promotions trigger reward seeking—a general motivational state—and reward seeking, in turn, yields impatience. Seven experiments (N = 1,795) demonstrate how incidental exposure to price promotions can cause greater willingness to pay to avoid waiting (Experiments 1a and 1b), shorter actual wait times (Experiments 2, 3b, and 5), greater propensity to break a rule to save time (Experiment 3a), and greater discounting in a consequential intertemporal choice (Experiment 4). Consistent with this account, the effect is both more pronounced for people with greater reward sensitivity (Experiments 3a and 3b) and mediated by reward seeking (Experiment 4). Finally, a conceptual replication in a field setting underscores the external validity and managerial relevance of the findings (Experiment 5).

The effect of delegation of decision rights and control: The case of lending decisions for small firms

We examine the effect of the allocation of decision rights on loan outcomes using proprietary data from a bank. Given that loan officers accumulate soft, nonverifiable information about borrowers through repeated interactions over time, our bank grants decision rights on some loans to loan officers. For larger and risky loans, the bank centralizes decision rights to assure that those loans are diversified across industries. When loans require approval from higher-level officers, loan officers must communicate their accumulated information with higher-level officers. Given that loan officers are incentivized to make loans irrespective of who has the discretion to grant the loan, internal disclosure of soft information appears to come at a cost. Relative to loans where loan officers have discretion, loans that require approval from higher hierarchical levels feature: (1) greater discounts on standard loan rates, and (2) a greater likelihood of a loan quality downgrade in the period following approval. Our evidence suggests that the incentive for loan officers to make loans, in combination with the necessity for higher ranked-officers to rely on soft information in their loan decisions, creates conditions in which information reported by loan officers may become optimistically biased.

Diminished Cortical Thickness Is Associated with Impulsive Choice in Adolescence.

Adolescence is characterized by both maturation of brain structure and increased risk of negative outcomes from behaviors associated with impulsive decision-making. One important index of impulsive choice is delay discounting (DD), which measures the tendency to prefer smaller rewards available soon over larger rewards delivered after a delay. However, it remains largely unknown how individual differences in structural brain development may be associated with impulsive choice during adolescence. Leveraging a unique large sample of 427 human youths (208 males and 219 females) imaged as part of the Philadelphia Neurodevelopmental Cohort, we examined associations between delay discounting and cortical thickness within structural covariance networks. These structural networks were derived using non-negative matrix factorization, an advanced multivariate technique for dimensionality reduction, and analyzed using generalized additive models with penalized splines to capture both linear and nonlinear developmental effects. We found that impulsive choice, as measured by greater discounting, was most strongly associated with diminished cortical thickness in structural brain networks that encompassed the ventromedial prefrontal cortex, orbitofrontal cortex, temporal pole, and temporoparietal junction. Furthermore, structural brain networks predicted DD above and beyond cognitive performance. Together, these results suggest that reduced cortical thickness in regions known to be involved in value-based decision-making is a marker of impulsive choice during the critical period of adolescence.SIGNIFICANCE STATEMENT Risky behaviors during adolescence, such as initiation of substance use or reckless driving, are a major source of morbidity and mortality. In this study, we present evidence from a large sample of youths that diminished cortical thickness in specific structural brain networks is associated with impulsive choice. Notably, the strongest association between impulsive choice and brain structure was seen in regions implicated in value-based decision-making; namely, the ventromedial prefrontal and orbitofrontal cortices. Moving forward, such neuroanatomical markers of impulsivity may aid in the development of personalized interventions targeted to reduce risk of negative outcomes resulting from impulsivity during adolescence.

The effects of loyalty programs in services – a double-edged sword?

PurposeThis paper aims to demonstrate both the positive and negative effects of loyalty programs. The study proposes a model to demonstrate why and how loyalty program strategies can result in good customer relationships and customer entitlement behaviors. Various configurations of three different loyalty program strategies are analyzed – tangible rewards, preferential treatment and perceived status.Design/methodology/approachThe authors’ hypotheses were tested by analyzing the survey data of 152 frequent flyer program members in China through partial least squares-structural equation modeling. Fuzzy-set qualitative comparative analysis (fsQCA) was used to test different configurations of the three loyalty program strategies.FindingsA net effects analysis demonstrates that loyalty programs are a double-edged sword. While loyalty programs can improve customer relationships, strategies based on perceived status have a positive relationship to customer entitlement, which may lead customers to expect extraordinary efforts from companies, such as greater discounts and extra privileges. Using fsQCA, the authors determined four sufficient configurations of high level of relationship quality and high level of customer entitlement, which also support their findings.Originality/valueFirst, this study expands the research on loyalty programs by providing an examination of their positive and negative consequences. Second, by proposing the configuration paths that lead to high level of relationship quality and high level of customer entitlement using fsQCA, this research enriches research on the net effects of loyalty programs, providing researchers and practitioners with a more comprehensive understanding of loyalty programs. Third, this research extends the concept of customer entitlement to the context of buyer–seller relationships by introducing perceived status as an important antecedent of customer entitlement and by identifying four sufficient configurations.

Delay discounting and parental monitoring in adolescents with poorly controlled type 1 diabetes.

In a sample of adolescents with poorly controlled type 1 diabetes, this study examined if delay discounting, the extent to which individuals prefer immediate over delayed rewards, was associated with severity of non-adherence and poor glycemic control, and if parental monitoring of diabetes management moderated those associations. Sixty-one adolescents (M age=15.08years, SD 1.43) with poorly controlled type 1 diabetes completed a delayed discounting task and an HbA1c blood test. Adherence was assessed via self-monitoring of blood glucose (SMBG) data from adolescents' glucometers. Parents completed a parental monitoring questionnaire. Greater delay discounting was associated with higher HbA1c, but not SMBG. Direct parent observation of diabetes tasks, but not indirect parental monitoring, moderated the link between greater delay discounting and higher HbA1c, with higher direct parent observation buffering the link between greater discounting and poorer glycemic control. Delay discounting may be a target for future interventions to improve HbA1c in youth with type 1 diabetes.

ANALISIS WANPRESTASI KEAGENAN PENJUALAN KENDARAAN BERMOTOR (Studi CV Nobel Perdana Kabupaten Tulang Bawang)

Standard by PT Sumber Trada Motor leads to no availability of vehicles to be sold by outlets CV Nobel Perdana. Giving great discounts and gifts, making consumers tend to buy directly from outlets PT Sumber Trada Motor. This agency system turns into competition due to the sales and market share CV Nobel Perdana excellent. The usefulness of this study as a researcher competence in the field of business law violations agreement. The problem of research is how the legal provisions breach agreement, the implementation of competition law to businesses which violate the agreement. Is expected to the Government through the KPPU to crack down on employers who violate the law No. 5 of 1999 on Competition, so as to control the businesses that destroy the independence of other businesses. Keywords: Standard, Agreement, Agency

Transaction Utility and Quality Choice

AbstractThis paper uses a game-theoretic model to examine the role of reference price for firms that vary in their quality positioning in competing for customers. Reference prices provide consumers with additional components of utility. Building on previous research on the impact of consumer decision making on firm strategies, we focus on how firms choose their positioning when consumer utility is driven not only by acquisition utility but also by the transaction utility associated with the purchase and how this, in turn, affects firms’ pricing decisions and profits. Considering a competition between two firms, this paper shows that the firm with higher product quality provides greater discounts to consumers. We also show that when firms are allowed to set a high ‘regular’ price, product differentiation is greater between the firms, and price competition is less intense. Furthermore, under some conditions, the profits of both firms can be higher than the benchmark case (when the effects of transaction utility are ignored).

Market Timing in Private Placements of Equity

In Chinese equity issues, long-term interval exists between initial announcement and execution due to regulatory process. Meanwhile, issuance prices of private placements are regulated not to fall below 90% of market prices at the announcement. We argue that Chinese firms conduct private placements to issue overpriced shares. Consistent with the hypothesis, we find that firms conducting private placements are more overvalued at the announcement and execution than non-equity issuers. Those firms experience significant stock price run-ups preceding the announcement and long-term under-performance following the execution. Meanwhile, private placements offer significantly greater discounts than public offerings do. Accordingly, firms with large overvaluation prefer public offerings to private placements. The finding suggests that Chinese firms encounter trade-off between guarantee of issuance price and discount costs in their choice of equity issue mode. Finally, we find that private issuers with large overvaluation can decrease discounts.

Pengukuran Kinerja Perusahaan Menggunakan Metode Performance Prism (Studi Kasus di Cendana Offset Fokus Intermedia Grup)

<p>This article explain about a performance measurement research in a graphic arts industry using Performance Prism<em> </em>method<em>.</em> The previous performance measurement system in that company has not been able to represent the performance of the organization. The performance prism method is used because this method complete the exiting methods. The stakeholder in CV. Cendana Offset consists of customers, investors or owners, communities, governments, employees, and suppliers. The company’s system contains 10 KPI performance with 2 KPI of customers, 2 KPI of employees, 2 KPI of investor/owner, 2 KPI of suppliers, and 2 KPI of government. Based on the result, there is the fundamental problems in special services for customers. Based on the problem that have been discovered, this article propose several option for improvement. One of them is by providing great discounts on certain periods and improving the print quality through increasing the company resources (i.e. operator’s skill and production machines).</p>

Who Obtains Greater Discounts on Automobile Insurance Premiums?

Insurance purchasers obtain varied discounts for insurance. This paper examines what drives these differences, specifically whether the loss probability and the wealth of the insured affect the size of the premium discount in automobile insurance. To describe a bargain between a client and an insurer over premiums and coverage, we first develop a sequential insurance bargaining game where the client has an outside option to bargain with another insurer. We find that the equilibrium involves full coverage and, based on the results of comparative statics, we propose hypotheses regarding the effects of the loss probability and the wealth of the insured on the size of the premium discount. We then use a unique data set of 85,806 observations of Taiwanese automobile liability insurance for property damage to empirically test the predictions. After controlling for underwriting and macroeconomic variables, we find that both (1) the insured with a lower claim probability (as a proxy for the insured with a lower loss probability) and (2) the insured with a higher salvage value car (as a proxy for the wealthier insured) receive a greater premium discount. These results support our theoretical results.

Measuring Self-Service Technology Latent Difficulties: Insurance Decisions on Utilitarian and Hedonic Influences

Abstract This study investigates the difficulties encountered by consumers in forming insurance decisions when using self-service technology (SST) channels, such as electronic insurance. Rasch measurement model is applied. This model employs the expectation disconfirmation theory to categorize and rank the order of importance of latent utilitarian and hedonic insurance purchase motives. Consumers find that electronic insurance has high risks and high premiums with respect to utilitarian motives but lacks information and performs unsatisfactorily in terms of hedonic motives. Nevertheless, electronic insurance is preferred for the convenience brought by SST channels, and because it provides greater discounts and offers product–channel matching through self-consultation in the absence of agents. Being middle-aged and having a high income are factors that significantly influence electronic insurance purchases.

Increased Capacity to Delay Reward in Anorexia Nervosa

Individuals with anorexia nervosa (AN) are often characterized as possessing excessive self-control and are unusual in their ability to reduce or avoid the consumption of palatable foods. This behavior promotes potentially life-threatening weight loss and suggests disturbances in reward processing. We studied whether individuals with AN showed evidence of increased self-control by examining the tendency to delay receipt of a monetary, non-food related, reward. Underweight AN (n = 36) and healthy controls (HC, n = 28) completed a monetary intertemporal choice task measuring delay discounting factor. Individuals with AN reduced the value of a monetary reward over time significantly less than HC (F[1,61] = 5.03; p = 0.029). Secondary analyses indicated that the restricting subtype of AN, in particular, showed significantly less discounting than HC (F[1,46] = 8.3; p = 0.006). These findings indicate that some individuals with AN show less temporal discounting than HC, suggestive of enhanced self-control that is not limited to food consumption. This is in contrast to other psychiatric disorders, for example, substance abuse, which are characterized by greater discounting. Though preliminary, these findings suggest that excessive self-control may contribute to pathological processes and individuals with AN may have neuropsychological characteristics that enhance their ability to delay reward and thereby may help to maintain persistent food restriction.

Usability and the emotional relationships in collective buying sites: a case study

Several people buy products that they will never use or even know what for. Feelings associated with pleasure, spontaneity and possession of something are reasons why people buy products without considering if they really need it or not if it will be useful or not, etc.. The collective buying sites are going up and offer products and services with great discounts. This study aims to relate the emotional design and usability concerning to collective buying sites and identify the reasons that influence people when it comes to buy something online.

Comparing the 2000 and 2005 factors affecting the selling price of feeder cattle sold at Arkansas livestock auctions1

The objectives of the study were to determine how factors affecting the selling price of feeder calves changed from 2000 to 2005 and to examine the perception that discounts narrow or even disappear as calf supplies decrease and selling prices increase. Data from weekly Arkansas livestock auctions were collected from January 1 to December 31 in 2000 and 2005. Data included calf sex, breed type, color, muscle score, horn status, frame score, fill, condition, health, and BW. Mean selling prices for 2000 and 2005 were $92.91 +/- 15.05 and $118.32 +/- 15.13 (mean +/- SD; $/45.45 kg), respectively. Individual price observations were subtracted from the respective annual means and became the dependent variable. The selling prices for feeder calves sold in groups of 2 to 5 calves and in groups of >/= 6 calves were greater in 2005 than 2000 (P < 0.001). Steers received a greater premium ($6.48 +/- 0.09 vs. $6.02 +/- 0.08; mean +/- SE) and bull calves received greater discounts ($0.30 +/- 0.14 vs. $1.68 +/- 0.09) in 2005 than in 2000. Breeds types that increased in value from 2000 to 2005 were Angus x Hereford, Angus, Angus x Charolais, and Brahman (P < 0.001). Breed types that received a reduced selling price in 2005 compared with 2000 (P < 0.001) were one-fourth Brahman Cross, Charolais, Charolais x Limousin, Hereford x Limousin, Limousin, Limousin x one-fourth Brahman, Longhorn, Saler and Simmental. Yellow-white face, black-white face, black, and gray feeder calves received an increase in selling price from 2000 to 2005 (P < 0.001). Although fewer horned feeder calves were sold in 2005 (P < 0.01), they received greater discounts in 2005 than 2000 (-$2.86 +/- 0.16 and -$0.51 +/- 0.09; P < 0.001). In 2005, large-framed feeder calves did not receive the premium detected in 2000, but medium-framed feeder calves in 2005 received a greater selling price compared with 2000. Feeder calves with a muscle score of 1 received a greater premium in 2005 compared with 2000 ($2.58 +/- 0.06 and $0.02 +/- 0.09, respectively; P < 0.001). Feeder calves with a muscle score of 2 were discounted in both years, but the discount in 2005 was not as great as in 2000 (P < 0.001). Full and tanked feeder calves received greater discounts in 2005 than in 2000 (P < 0.001). Discounts for fleshy and fat feeder calves were greater in 2005 than in 2000. Most factors affecting the selling price of Arkansas feeder calves in 2000 affected the selling price in 2005. Although feeder calf supplies were smaller in 2005 than 2000, many discounts increased.