Consumers often have to decide whether to go to a remote store for a lower price. Only the absolute price difference between the stores should be relevant in this case, but several experiments showed that people exhibit "relative thinking": they are affected also by the relative savings...

We study learning in a bandit problem where the outcome probabilities of six arms switch (jump) over time a restless bandit. In the experiment, optimal Bayesian learning tracks the jumps through learning of the probability of a jump or direct jump detection and, once a jump has occurred,...

This paper seeks to explain the evolution of human systems of exchange through the emergence of both fundamental forms of organization (such as firms and markets) and specific instances of organization (such as individual firms and other economic or social entities) for engaging in exchange. We...

We provide the theory of visual attention and eye-movements that serves as a basis for evaluating eye-tracking research and for discussing salient and emerging issues in visual marketing. Motivated from its rising importance in marketing practice and its potential for theoretical contribution,...

The causes of everyday errors made by most people remain largely unknown. In order to investigate spontaneous lapses in attentional processing a new task was designed. This task creates an increased attentional load because it is based on impeded decision making involving both stimuli feature...

The nature of interrelations of brain event-related potentials to behavioral measures and temperament dimensions was studied in the situation of attention under the auditory oddball paradigm. Several components of event-related potentials were found to be related to Extraversion, Mobility,...

To provide a naturalistic, empirical analysis of entrepreneurial decision-making through textual analysis, DICTION is used to analyse student journal entries made in conjunction with an entrepreneurship simulation used widely in teaching entrepreneurship. Concrete terms are used as a proxy for...

Today's global markets have brought a new definition of the concept of loyalty. If a customer enjoys a continuous purchasing experience with a single supplier, he will develop a behavioural pattern, known as a 'shopping script', which may reduce his cognitive effort and optimise purchasing...

Modeling is a powerful tool for managing complexity in problem solving. Problem solvers usually build a simplified model of the real world and then use it to generate a solution to their problem. To date, however, little is known about how people actually behave when building a model. This study...

This paper explores differences in how primary care doctors process the clinical presentation of depression by African American and African-Caribbean patients compared with white patients in the US and the UK. The aim is to gain a better understanding of possible pathways by which racial...