As technology advances‚ it becomes more feasible to load products with a large number of features‚ each of which individually might be seen as useful. However‚ too many features can make a product overwhelming for consumers and hard to use. Three studies examine how consumers balance their desires for capability and usability when they evaluate products‚ and how these desires shift over time. Because consumers give more weight to capability and less weight to usability before relative to after use
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From the show ’s introduction in December 2005‚ NBC has had tremendous success with the game show Deal or No Deal. The game show‚ which was created in the Netherlands‚ pits acontestant against the mysterious banker. The contestant is trying for the case with $1 million‚while the banker ’s stated goal is to get the contestant to go home with as little money as possible while also trying to keep the game going for as long as possible. Deal or No Deal is a unique game show in that it takes virtually
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Trouble arises when I prefer staying in to sunbathing‚ sunbathing to short exposure and short exposure to staying in. These are inconsistent preferences and in combination‚ are irrational. Isolated‚ they are defensible. Decision theory: You have a utility function‚ which assigns real numbers to outcomes‚ propositions‚ states or affairs. Ordering Conditions • (1) If xPy‚ then not yPx. • (2) If xPy‚ then not xIy. • (3) If xIy‚ then not xPy‚ and also not yPx. • (4) xPy or yPx or xIy‚ for all relevant
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oblJournal of Applied Psychology 1977‚ Vol. 62‚ No. 2‚ 237-240 Intermediate Linkages in the Relationship Between Job Satisfaction and Employee Turnover William H. Mobley University of South Carolina The relationship between job satisfaction and turnover is significant and consistent‚ but not particularly strong. A more complete understanding of the psychology of the withdrawal decision process requires investigation beyond the replication of the satisfaction-turnover relationship. Toward this end
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portfolio selection problem . . . . . . . . . . . . . . . 4.3 Super-replication cost in an uncertain volatility model . . . . . continuous....... ....... ....... 10 11 14 16 5 Martingale approach to continuous-time portfolio problem 5.1 Utility maximization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.2 Value at risk hedging criterion . . . . . . . . . . . . . . . . . . . . . . . . . 17 17 21 6 Conclusion 26 2 1 Introduction Portfolio management
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psychology and microeconomics. The development of the model starts with the mental coding of combinations of gains and losses using the prospect theory value function. Then the evaluation of purchases is modeled using the new concept of “transaction utility.” The household budgeting process is also incorporated to complete the characterization of mental accounting. Several implications to marketing‚ particularly in the area of pricing‚ are developed. This article was originally published in Marketing
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score in the rating approach or an implicit score in the ranking approach) to a product profile and the analyst has to find out what the preference contributions are for each separate attribute and level‚ where it is commonly assumed that the overall utility of a profile is constructed by 6 Chapter 2 adding the attributes’ preferences. This means that a compensatory preference model is used‚ where “low” scores on a certain attribute can be compensated by a “high” score on another attribute. Other
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the ethics of utility. Placing the interest of every individual as nearly as possible in harmony to the whole. DISCUSSION QUESTIONS What is happiness‚ and is Mill correct to take it as the end toward which everything else is a means? Happiness is pleasure; the ultimate good. Not entirely correct by putting happiness as to what is right its seems limiting to an overall scheme of things. Is Mill correct to claim that “it is quite compatible with the principle of utility to recognize
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Contents Chapt~ 1 ExJ>ected Utilicy and Risk Aversion ..............................................................................• ! Chapt€11" 2 Mean-Varian.ce Analysis ................................................................................................ 6 Chapter 3 CAPM‚ Atbitmge‚ and Linear Factor Models .............................................................. 12 Chapter 4 Consumption-Savings Decisions and State Pricing............................................
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supporting how important these assumptions are. Economists assume people are rational with well-ordered preferences (Wessels 2006). Moreover‚ rational choice theory states these preferences are transitive and rational people seek and act to maximize utility‚ which they derive from those preferences‚ subject to various constraints (Ullen‚ 1999). Another assumption within
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