Market Behavior Research Articles

Goals as Motives:Implications for Theory, Methods, and Practice.

The concept of human goals is central to the study of psychology (i.e., motivation, behavior, and well-being), sociology (i.e., social structure, culture, and dynamics), education (i.e., setting objectives, student motivation, and growth strategies), management (i.e., leadership, employee motivation, productivity, organizational behavior), and economics (i.e., consumer and market behavior, decision making, labor relations), among others. Because it represents the ultimate desired destination that orients decisions and actions, it plays a central role in the theory and practice in these fields. Despite its centrality, the concept lacks theoretical consensus regarding its definition and distinctiveness from related concepts such as needs, motives, and values. Like these concepts, the goals literature suffers from the proliferation of both concepts and taxonomies, suggesting a need for a return to theoretical foundations. In this article, we advocate for a fundamental reconsideration of the concept of goals, anchoring it within a new psychological theory of human motivation based on first principles. The paper's primary contribution lies in demonstrating that the operational definitions utilized by academics and practitioners alike can be thought of as attempts to approach concepts of human motivation, specifically, emotional needs, without fully getting there. We review the leading definitions of human goals in the literature, concluding that they can be distilled to a fundamental set of human emotional needs, each associated with extensive literatures of their own. A comprehensive framework of 12 human emotional needs is introduced; it is argued that a comprehensive motivational framework offers significant advantages over current theoretical approaches, which tend to spin off an ever-expanding list of concepts. We consider the impact of embedding goals concepts within existing motivational constructs with clear benefits for: (a) theory development, (b) method development, and (c) practical applications, emphasizing the advantages of clear operational definitions.

MM-iTransformer: A Multimodal Approach to Economic Time Series Forecasting with Textual Data

This paper introduces a novel multimodal framework for economic time series forecasting, integrating textual information with historical price data to enhance predictive accuracy. The proposed method employs a multi-head attention mechanism to dynamically align textual embeddings with temporal price data, capturing previously unrecognized cross-modal dependencies and enhancing the model’s ability to interpret event-driven market dynamics. This enables the framework to model complex market behaviors in a unified and effective manner. Experimental results across multiple financial datasets, including the foreign exchange (Forex) and Gold-price datasets, demonstrate that incorporating textual information significantly enhances forecasting accuracy. Compared to models relying solely on historical price data, the proposed framework achieves a substantial reduction in Mean Squared Error (MSE) loss, with improvements of up to 26.79%. This highlights the effectiveness of leveraging textual inputs alongside structured time series data in capturing complex market dynamics and improving predictive performance.

Optimal operation and offering strategy for profit‐seeking of a coal‐mine energy prosumer in a liberalised market

AbstractCoal mines consume electricity from grids while making use of various derived energy resources to generate heat and power. This allows coal mines to act as energy prosumers. This paper presents an integrated optimisation model of optimal operation and offers strategies for profit‐seeking of a coal‐mine energy prosumer in a liberalised market. The discussed problem is formulated as a tri‐stage bi‐level programming model. In the upper level, the coal mine‐integrated energy system (CMIES) operator decides the retail contract management, equipment operation plan, and retail electricity price offered to end‐users through three stages to maximise its expected profits at a predefined risk level. In the lower level, the end‐users react to the price bids offered by the CMIES operator under study and other market retailers to minimise their costs for energy procurement. Unlike previous approaches, the endogenous uncertainties associated with market subjects' strategic behaviours are explicitly considered. To solve the proposed problem efficiently, the Karush–Kuhn–Tucker conditions and multicut benders decomposition method are employed. The simulation results show that the collaborative optimisation of the energy cycle and production scheduling can reduce daily operating costs by nearly $3576 and carbon emissions by 6.72 tons, which verifies the effectiveness of the proposed method.

A Relational Analysis of Level of Knowledge and Adoption of Mango Growers in Odisha, India

Odisha is the 8th largest producer of Mango state in India and occupies 61.00 % of total fruit cultivated areas of the state. The present research has been conducted to ascertain the level of knowledge and adoption of improved farm practices by the Mango farmers as well as to ascertain the association between selected socio-personal, agro-economic, and communication variables with level of knowledge and adoption. The study was conducted in two purposively selected One District One Product (ODOP) districts for Mango, i.e. Subarnapur & Angul district of Odisha. Ten aspects of knowledge and nine broad aspects of adoption were considered for the present study. Data were collected from 180 respondents, 90 from each study district and analysed through statistical tools like Knowledge and Adoption Index, frequency, percentage, mean, standard deviation, correlation, multiple and step wise regression and ANOVA. It was found that Majority of the respondents were having medium and semi-medium level of overall knowledge and adoption respectively with no significant difference between study districts in this regard. Selected variables i.e. age, self-education, family-education, Mango farming experience, social participation, land holding, cultivable land, area under Mango, annual family income, overall information seeking behaviour, overall marketing behaviour, and overall adoption were found influencing the overall knowledge. Whereas, in case of level of adoption, all 11 variables out of the above mentioned 12 variables except overall level of adoption along with Mango yield index and overall knowledge were found having significant and strong correlation with overall adoption. The adjusted R2 were found 0.788 and 0.766 respectively for regression of overall knowledge and overall adoption with selected socio-personal, agro-economic and communication variables. The step wise regression of overall knowledge with selected variables showed that, 5 variables viz, overall information seeking behaviour, overall marketing behaviour, self-education, Mango yield index and family education appeared as most important variables that explained the variation in overall knowledge level. Similarly, while doing regression of overall adoption with selected variables, 3 variables viz., overall knowledge, cultivable land, Mango yield index appeared as most important variables that explained the variation in overall adoption.

Digital and Social Determinants of Consumer Decision Making in OTC Pharmaceuticals

This paper outlines various factors that determine consumer choice of over-the-counter drugs, focused mainly on digital marketing and social group influence. The research work is based on quantifying the relationship between different factors and consumer decision processes. These results also suggest a fair relationship between digital marketing and consumer buying behaviour, showing that digital platforms are increasingly used as information sources for OTC medicines. On the other side, reference groups—like advice from pharmacists, doctors, family, and friends—are more important for purchase choices than online marketing, highlighting how vital trust between people is in health decisions. The study further shows that digital marketing and reference groups are complementary, with consumers mainly initiated into buying through digital means but seeking validation and advice from trusted people. These agree with earlier findings and amplify the evolving interplay of modern marketing strategies with social influences in the traditional sphere of pharmaceuticals. Practical implications for this research indicate that pharmaceutical companies must pursue integrated marketing strategies in which digital outreach is combined with efforts to reach reference groups. The pharmacist or health professional is another important agent that can bridge the gap between online and offline consumer involvement. This study thus helps marketers, healthcare professionals, and policymakers develop strategies for improving consumer awareness and confidence in OTC medicines.

Methodology for determining freight indices

The paper considers the issues of quantifying the indicator of the freight market conjuncture and analyzes some basic principles used in calculating freight indices. It is noted that the current geopolitical situation has a significant impact on the general behavior of the global freight market and inevitably leads to temporary restrictions on the functioning of the Russian market, which objectively determines the need to calculate domestic indices based on their own methods. The existing world practice of determining freight indices is considered, as well as the features of the Russian freight market as an integral part of the world market. It is emphasized that the nomenclature of transported goods, the geography of transportation and the parameters of the fleet used are radically different from the world ones, which makes them irrelevant for Russian shipowners mastering export cargo flows from Russia and also that foreign freight indexes are only informative and cannot be used in practical work. The paper shows the structure of the formation of freight rates and identifies the main components of the carrier’s expenses. The structure of the freight rate is the basis for the formation of the proposed methodology for calculating freight indices. The criteria for determining the specific weights of individual sectors of the freight market are considered. The conclusions drawn in the conducted research are supported by analytical data presented in graphical form. The practical use of the presented methodology will allow interested parties involved in transportation to make informed management decisions.

Toward a more general theory of marketing ethics

PurposeEthical issues surround and permanently reside in the discipline of marketing and have been examined within multiple schools of thought. However, despite the prevalence of the topic and significant scholarly attention and theoretical development since the 1980s, the Hunt–Vitell general model has not been subject to a substantial revision in decades. This paper aims to undertake the significant task of augmenting and advancing the general theoretical framework of marketing ethics through a number of revisions.Design/methodology/approachThis paper synthesizes the conceptual and empirical work on marketing ethics to date to extend the seminal Hunt and Vitell (1986, 2006) model of marketing ethics.FindingsThe revised model expands upon the Hunt–Vitell model by incorporating additional factors that influence ethical decision-making in marketing. Key additions include cultural orientation, socialization, individual characteristics (relativism, demographics, goals, position), means, contracts, consumer sovereignty, self-respect, respect from others and context. These additions create a more comprehensive framework for understanding ethical behavior in marketing, enhancing the model’s validity and applicability.Research limitations/implicationsThe paper offers numerous research avenues, including: 1. Examining how marketers and entrepreneurs make decisions, focusing on the alignment of their processes with ethical principles. 2. Revisiting research on gender and ethics, exploring the interplay of various social identities in ethical decision-making. 3. Developing new measures for personality traits like idealism and relativism within marketing and entrepreneurship contexts. 4. Investigating the impact of information availability and different types of information on consumer perceptions and ethical behavior. 5. Exploring the disconnect between ethical orientations of marketing managers and consumers. 6. Examining the influence of socialization processes on ethical orientations. 7. Incorporating psychological constructs like self-respect and desire for respect into models of ethical decision-making. 8. Conducting context-specific research to understand the relationship between ethical judgment and action. 9. Empirical testing using both vignettes and structural equation modeling to validate the model and explore its implications for both marketers and consumers, especially in the context of brand activism and public relations crises.Practical implicationsPractitioners should be mindful of how their actions and intentions influence ethical judgments. They should integrate ethical considerations into all aspects of business, including CSR initiatives and training. Promoting diversity and transparency fosters ethical decision-making and builds trust with consumers. Entrepreneurs should model ethical behavior, create an ethical culture and provide clear information about their practices.Social implicationsThe revised model highlights the significant social implications of ethical decision-making in marketing and entrepreneurship. By considering not only the outcomes but also the means used to achieve them, businesses can avoid negative impacts on society. This includes prioritizing transparency, fairness and responsible practices. Understanding the influence of cultural, individual and contextual factors on ethical behavior can lead to more ethical business practices, ultimately contributing to a more just and sustainable society.Originality/valueThe revised model constitutes a meaningful improvement to the seminal Hunt–Vitell general model of marketing ethics. Seven new research propositions, a simplified measurement model, research and practitioner implications and an Appendix that offers an overview of four decades of marketing ethics research are also provided.

Peran E-Commerce dalam Meningkatkan Peluang bagi UMKM di Indonesia

The aim of this research is to find out how the role of e-commerce increases opportunities for MSMEs in Indonesia. The method used in this research is a qualitative approach with literature study as the main data source. We carried out the data collection process by searching literature with the keyword "The role of e-commerce in Indonesian MSMEs." on the Google Scholar platform. The results show that e-commerce has made a significant contribution to the MSME players themselves. The role of e-commerce has also increased since the COVID-19 pandemic, which at that time became the main solution for MSMEs to survive amidst the crisis caused by restrictions on physical activity. With e-commerce integrated with social media, MSMEs can still operate and maintain income because they are able to adapt to changes in market behavior. However, this research also identified several main challenges, one of which is the low interest in reading which causes a lack of digital literacy among MSME players. Therefore, technology training, digital infrastructure development, and policies that support the empowerment of MSMEs in the digital era are needed. By conducting this research, of course there is hope that strategic steps can be formulated to maximize the potential of e-commerce, not only in expanding market access on a global scale, but also being able to increase the global competitiveness of MSMEs in a sustainable manner.

The effects of greenwashing on purchasing intention and perceived quality by the consumer

Purpose: Our paper explores how “not communicating” or “under communicating” is addressed in academic literature and the resulting impact on sustainability marketing and communication. Design/methodology/approach: This study conducted a systematic literature review with 21 documents, exploring the effects of under-communication on sustainability marketing and consumer behavior considering the terminology of “greenblushing,” “silent green,” and “silent sustainability” firms. We search documents published until December 2023 on Web of Science (WoS), Scopus, and Google Scholar. Findings: The studies follow three main discussions: the categorization regarding companies’ sustainability communication versus commitment, the effects of greenhushing as a message style, and why companies choose not to disclose their sustainability efforts. Theoretical/methodological contributions: This study proposes a future research agenda and encourages thoughtful consideration of the practical and theoretical aspects of understanding the “why,” “how,” and “when” companies should not communicate. Relevance and originality: Considering that communication is the connection between the company and consumers, not communicating can be considered counterintuitive. Recognized as the opposite of greenwashing, greenhushing has been gaining space in academic discussions.

Green “Under-Communication:” A Systematic Literature Review on Greenhushing

Purpose: Our paper explores how “not communicating” or “under communicating” is addressed in academic literature and the resulting impact on sustainability marketing and communication. Design/methodology/approach: This study conducted a systematic literature review with 21 documents, exploring the effects of under-communication on sustainability marketing and consumer behavior considering the terminology of “greenblushing,” “silent green,” and “silent sustainability” firms. We search documents published until December 2023 on Web of Science (WoS), Scopus, and Google Scholar. Findings: The studies follow three main discussions: the categorization regarding companies’ sustainability communication versus commitment, the effects of greenhushing as a message style, and why companies choose not to disclose their sustainability efforts. Theoretical/methodological contributions: This study proposes a future research agenda and encourages thoughtful consideration of the practical and theoretical aspects of understanding the “why,” “how,” and “when” companies should not communicate. Relevance and originality: Considering that communication is the connection between the company and consumers, not communicating can be considered counterintuitive. Recognized as the opposite of greenwashing, greenhushing has been gaining space in academic discussions.

The Relationship Between Investor Sentiment and Chinese Stock Prices

We use data from 2003 to 2023 to investigate the effect of investor sentiment on Chinas stock market. First, we find a positive correlation between investor sentiment and stock market prices: when investor sentiment is higher, market prices tend to rise, while lower investor sentiment tends to decrease market prices. Our research can help enhance investors understanding of the stock market. Individual investors and researchers may more accurately predict short-term and long-term trends by analyzing the relationship between investor sentiment and stock market prices. Furthermore, our paper aims to improve investors risk awareness and promote a rational investment approach. With more investor education, investors can assess market fluctuations more rationally and avoid blindly following trends or panic selling, thereby contributing to market stability. Moreover, by acknowledging the influence of sentiment on market behavior, policymakers and regulators can better anticipate market reactions to various stimuli and devise more effective interventions to mitigate potential market disruptions.

Data-Driven Analysis of the Interaction Between Storage Ownership and Market Behavior

Data-Driven Analysis of the Interaction Between Storage Ownership and Market Behavior

Herding Behavior of Stock Market in Emerging Country: Insight from Pakistan

Herding Behavior of Stock Market in Emerging Country: Insight from Pakistan

Factors Influencing Purchase Intention on Cake Product: Facebook Commerce Perspective

This research examines the variables affecting consumers’ intention to purchase cakes through the Facebook commerce platform. The study aims to identify factors that influence online consumer behavior in the cake market, focusing on Facebook as a primary e-commerce platform. By analyzing these factors, the research seeks to provide insights into the role of social media in shaping consumer purchasing decisions. Data were collected from 331 respondents through an online survey, providing a diverse and representative sample. The data were analyzed using descriptive analysis to identify trends, factor analysis to uncover underlying dimensions of the variables, and coefficient correlation to assess relationships between these factors and purchase intentions. This methodological approach ensures a comprehensive analysis of consumer behavior in Facebook commerce. The study indicates that performance expectancy, price value, habit, and trust positively influence consumers’ online purchase intentions. These factors enhance consumers’ confidence and willingness to buy cakes through Facebook. However, effort expectancy, facilitating conditions, social influence, and hedonic motivation do not significantly affect purchase intentions in this context, suggesting these factors may be less relevant for cake products on Facebook commerce platforms. These findings contribute to the body of knowledge on consumer behavior in social commerce, especially in Facebook-based e-commerce. They offer valuable theoretical insights into the factors influencing purchasing decisions and provide practical implications for marketers looking to optimize their online presence. By focusing on performance expectancy, price value, habit, and trust, businesses can tailor strategies to meet consumer expectations and increase purchase intentions. This study is one of the few that examines factors influencing consumer purchase intentions towards cake products through Facebook commerce. Its findings contribute to both practical and theoretical knowledge, providing unique insights into social media, consumer behavior, and e-commerce in the cake industry.

A Multi-Level Task Framework for Event Sequence Analysis.

Despite the development of numerous visual analytics tools for event sequence data across various domains, including but not limited to healthcare, digital marketing, and user behavior analysis, comparing these domain-specific investigations and transferring the results to new datasets and problem areas remain challenging. Task abstractions can help us go beyond domain-specific details, but existing visualization task abstractions are insufficient for event sequence visual analytics because they primarily focus on multivariate datasets and often overlook automated analytical techniques. To address this gap, we propose a domain-agnostic multi-level task framework for event sequence analytics, derived from an analysis of 58 papers that present event sequence visualization systems. Our framework consists of four levels: objective, intent, strategy, and technique. Overall objectives identify the main goals of analysis. Intents comprises five high-level approaches adopted at each analysis step: augment data, simplify data, configure data, configure visualization, and manage provenance. Each intent is accomplished through a number of strategies, for instance, data simplification can be achieved through aggregation, summarization, or segmentation. Finally, each strategy can be implemented by a set of techniques depending on the input and output components. We further show that each technique can be expressed through a quartet of action-input-output-criteria. We demonstrate the framework's descriptive power through case studies and discuss its similarities and differences with previous event sequence task taxonomies.

Is there Price Distortion in the Philippine Rice Market: A Bayesian Discrete Wavelet Transform Analysis

This study uses Bayesian Discrete Wavelet Transform (DWT) analysis to determine the existence of price distortions in the Philippine rice market. Using the world rice price as a benchmark, the study investigates residual fluctuations in rice prices from March 2023 to October 2024 at different frequency levels. The results show significant distortions at the approximation and detail coefficient levels, indicating inefficiencies influenced by market dynamics, policy interventions, and global trends. The Bayesian DWT approach detects localized price anomalies, thus enabling policymakers to examine market behavior and formulate stabilization policies in response to rice price fluctuations.

Sanctuary policies and the mortgage market behavior: Reducing uncertainty to promote financial inclusion

Sanctuary policies and the mortgage market behavior: Reducing uncertainty to promote financial inclusion

Impact of Heterogeneous Data on Financial Market Volatility: A Generalized Additive Model Approach

Financial market volatility is driven by a complex interplay of factors, many of which exhibit nonlinear relationships with market behavior. Traditional linear models often struggle to adequately capture these intricate dynamics, particularly when analyzing heterogeneous data sources such as stock prices, interest rates, and macroeconomic indicators. In this paper, a nonlinear regression approach is proposed, specifically using generalized additive models, to better understand the impact of such diverse data on market volatility. By incorporating data from multiple sources, including historical stock prices and interest rates, significant nonlinear relationships between stock returns and interest rates with market volatility are revealed in this paper. The smooth terms for log returns show that volatility increases sharply during periods of negative returns, particularly during market downturns, which is consistent with the widely observed phenomenon of volatility clustering. By accounting for these nonlinear relationships, the model provides valuable insights into how varying economic conditions impact market stability, informing risk management strategies and policymaking.

Consumer Behavior in the Off-Premise Wine Market: The Role of Perceived Risk and Faulty Wine Experience

Consumer Behavior in the Off-Premise Wine Market: The Role of Perceived Risk and Faulty Wine Experience

TOWARDS SUSTAINABLE VOLCANO TOURISM: UNDERSTANDING VISIT INTENTIONS AT MOUNT ANAK KRAKATAU THROUGH DESTINATION CREDIBILITY AND ENVIRONMENTAL MOTIVATION

This study aims to analyse the elements that affect people's intention to visit Mount Anak Krakatauthrough focusing on the influence of destination publicity, destination credibility, and environmental motivation in the context of volcano tourism. This study involves 225 tourists who were selected using a convenient sample procedure. The data underwent rigorous examination by exploratory factor analysis, confirmatory factor analysis, and structural equation modelling. The research results are as follows: The initial hypothesis demonstrated that a destination's sustainability significantly impacts its credibility. Whilst the second hypothesis confirmed that the sustainability of a destination substantially affects environmen tal motivation. The third hypothesis supported the notion that the credibility of a destination has a significant influence on environmental motivation. The fourth hypothesis established that the credibility of a destination has a considerable effect o n visit intention. Lastly, the fifth hypothesis affirmed that environmental motivation significantly impacts visit intention. Taken together, these findings enhance the comprehension of volcano tourism, destination marketing, and consumer behaviour.