Today, Alchian's "Uncertainty, evolution and economic theory" (1950) is hailed by evolutionary economists as a most important piece, which resumed an evolutionary brand of theorizing in economics after the eclipse of the interwar period. On the other hand, Alchian's article is also cherished by...

We investigate social circles in intra-firm settings. First, we argue that social circles are inhabited by individuals whose attitudes display fit with the objectives of the social circle rather than more self-centered instrumentalism or calculation. For a test of this hypothesis, we distinguish...

In this paper we propose the use of preferred outcome distributions as a new method to elicit individuals’ value and probability weighting functions in decisions under risk. Extant approaches for the elicitation of these two key ingredients of individuals’ risk attitude typically rely on a...

Study 1 investigates the beneficial effects of experiencing pride. Pride was found to have two different effects. First, it increases salespersons' performance-related motivations. Specifically, it promotes adaptive selling strategies, greater effort, and self-efficacy. Secondly, it positively...

Several authors have proposed frameworks to help advertisers predict and plan advertising effectiveness. Rossiter and Percy's advertising grid (1997) recommends that the ad appeal should match the purchase motivation or attitude base. They suggest that for utilitarian brands informational...

This paper deals with Case-based Reasoning (CBR) as a support technology for sales promotion (SP) decisions. CBR-systems try to mimic analogical reasoning, a form of human reasoning that is likely to occur in weakly-structured problem solving, such as the design of sales promotions. In an...

We study the performance of Virtual Stock Markets (VSMs) in an institutional forecasting environment. We compare VSMs to the Combined Judgmental Forecast (CJF) and the Key Informant (KI) approach. We find that VSMs can be effectively applied in an environment with a small number of knowledgeable...

Being different from competitors, in a positive sense, is an important asset to organizations. Well-chosen emphasis on distinctive organizational features is very helpful in achieving a superior position relative to rival organizations. However, organizations often claim to be distinctive on...

Using weekly data on advertising expenditures in various media and response data on awareness, consideration and choice, we test the hierarchy of effects hypothesis. Our empirical results, based on a simultaneous equations model with pooled parameters across brands, suggest that we can reject...

During the past decade, irrational exuberance has turned into a possibly equally irrational pessimism about what the Internet can accomplish. The fear of getting ruined through cannibalization losses has recently deterred many firms from deploying the Internet as a distribution channel. But do...