This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-...This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-alternative”characteristics of mental accounting,this paper expounds how the strategy of the bilingual live-streaming of Oriental Selection promoters stimulates consumers’desire to buy the advertised products and services whilst using the utility theory of mental accounting to analyze how Oriental Selection promoters improve consumers’acquisition utility and total utility.Secondly,we sum up the successful experiences of Oriental Selection:The live-streaming industry should apply the theory of mental accounting in effectively overcoming the shortcomings of the live-streamed marketing by stimulating consumers’desire and influencing their decision-making behavior through the streaming of content that triggers them to make purchases.This is achievable by abandoning the traditional ways of loudly urging consumers to buy goods.Finally,this paper puts forward some suggestions on how to use the mental accounting theory in promoting sustainable consumption and points out the prospects for Oriental Selection.展开更多
The manner in which economic outcomes are coded in a value function is critical because it has substantial influence on the evaluation of risky choices.In this paper,we formulate multiple mental accounts in a nonlinea...The manner in which economic outcomes are coded in a value function is critical because it has substantial influence on the evaluation of risky choices.In this paper,we formulate multiple mental accounts in a nonlinear value function and propose a newsvendor problem with mental accounting to predict and explain pull-to-center phenomenon.We show that the distinctive predictions of the proposed model come from the value function with mental accounting.We identify the individual and combined effects of loss aversion,risk aversion,and risk seeking on shaping newsvendor ordering behavior.Our work demonstrates that prospect theory can explain the decision bias and ordering behavior observed in newsvendor experiments.We also provide some additional insights to explain the studies in the literature.展开更多
文摘This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-alternative”characteristics of mental accounting,this paper expounds how the strategy of the bilingual live-streaming of Oriental Selection promoters stimulates consumers’desire to buy the advertised products and services whilst using the utility theory of mental accounting to analyze how Oriental Selection promoters improve consumers’acquisition utility and total utility.Secondly,we sum up the successful experiences of Oriental Selection:The live-streaming industry should apply the theory of mental accounting in effectively overcoming the shortcomings of the live-streamed marketing by stimulating consumers’desire and influencing their decision-making behavior through the streaming of content that triggers them to make purchases.This is achievable by abandoning the traditional ways of loudly urging consumers to buy goods.Finally,this paper puts forward some suggestions on how to use the mental accounting theory in promoting sustainable consumption and points out the prospects for Oriental Selection.
基金the National Natural Science Foundation of China under Grant Nos.71872012 and 71372018the Key Research Program of Beijing Social Science Foundation under Grant No.15JDJGA021+6 种基金the International Clean Energy Talents Program of China Scholarship Council underunder Grant Nos.Liujinfa[2017]5047 and Liujinfa[2018]5023the Special Fund of Beijing Municipal Commission of Education under Grant No.20162139016the Ministry of Education of Humanities and Social Science Project under Grant Nos.l9YJC630044 and 19YJC630035the National Natural Science Foundation of Zhejiang Province under Grant No.LY18G010016Zhoushan Science and Technology Project under Grant No.2017C41018the Foundation of Zhejiang Educational Committee under Grant No.Y201840337the Startup Foundation of Zhejiang Ocean University under Grant Nos.11085090318 and 11085090418.
文摘The manner in which economic outcomes are coded in a value function is critical because it has substantial influence on the evaluation of risky choices.In this paper,we formulate multiple mental accounts in a nonlinear value function and propose a newsvendor problem with mental accounting to predict and explain pull-to-center phenomenon.We show that the distinctive predictions of the proposed model come from the value function with mental accounting.We identify the individual and combined effects of loss aversion,risk aversion,and risk seeking on shaping newsvendor ordering behavior.Our work demonstrates that prospect theory can explain the decision bias and ordering behavior observed in newsvendor experiments.We also provide some additional insights to explain the studies in the literature.
