Thorsten Teichert

Neural evidence for Reference-dependence in real-market-transactions.

Human decision making has become one of the major research-foci in economics, marketing and in neuroscience. This study integrates perspectives from these disciplines by examining neurophysiological correlates to Reference-dependence of utility evaluations in real market contexts both before and after choice. First, by comparing buying and selling decisions, we observe an activation of the amygdala only in the latter. We interpret this as loss aversion with respect to prior possessions. This finding contributes to the settling of an ongoing fundamental dispute in economic theory by indicating the absence of loss aversion for money in routine transactions. Second, ex post satisfaction statements are accompanied by an activation of the reward processing orbitofrontal cortex, if the evaluation context is framed by a high external reference price instead of a lower internal reference price. This indicates a nonrational Reference-dependence--despite the neoclassical view of a rational Homo Economicus--of satisfaction measures and challenges a central marketing variable.

Text mining for technology monitoring

A considerable part of scientific and technological knowledge is coded in writing. In this context, automated text categorization can be regarded as a promising tool particularly for patent data analysis. In a real-life example, we show that automated text categorization can closely resemble the time-consuming categorisation job of an expert. By comparing different algorithms we reveal systematic differences in their results and show potential for further improvement.

Trust, involvement profile and customer retention - modelling, effects and implications

This study proposes and tests a structural model of customer retention. It measures the effects of trust and involvement on customer retention assuming general customer satisfaction. The model is tested in an empirical study in the context of an existing long-term customer relationship. As expected, customer satisfaction is not a construct on its own but is combined with retention. Trust serves as a strong trigger for enhancing customer retention. Involvement is revealed to play a prominent role in explaining both trust creation and customer retention. Applying the scale of Jain and Srinivasan, effects of different involvement profiles are analysed. Based on a discussion of the conceptual framework and an empirical proof of its operationalisation, five different dimensions of involvement are distinguished. Trust creation is primarily triggered by affective components of involvement, whereas the cognitive components show distinct effects. Further differences between the individual dimensions of involvement are revealed, in accordance with theoretical considerations. We conclude that relational customer retention, where trust is a major constituent element, is differently supported by affective and cognitive involvement. Consequently, the focus of innovation and new product management should shift from the mere design of new physical properties towards a broader, proactive perspective of shaping both consumer involvement and long-term retention.

Investigating Research Streams of Conjoint Analysis: A Bibliometric Study

Conjoint analysis (CA) is one of the most important methods for preference elicitation. In this paper we investigate the intellectual structure within the conjoint analytical research community. Analyses based on single papers provide a method-based overview of streams of conjoint research. By using novel bibliometric techniques in this field we complement findings of existing reviews. We use co-citation and factor analysis of the most cited articles in SSCI to identify the most important articles and research streams. Seven research streams are revealed which are visualized by means of multidimensional scaling. Tables and graphics reveal the disciplinary affiliations of contributors to CA, the special structure within the classes as well as links between them.

Is all Internet gambling equally problematic? Considering the relationship between mode of access and gambling problems

No funding was provided for this manuscript. Funding was provided for the original research to the lead author by the Menzies Foundation.

The creation of social and intellectual capital in virtual communities of practice: shaping social structure in virtual communities of practice

Virtual Communities of Practice (VCoPs) are Communities of Practice (CoPs) characterised by at least partially virtual interactions. CoPs are informal groups of people that share expertise and passion for actual practice within and on behalf of an organisation. CoPs are often said to be a more effective organisational form for knowledge creation than traditional and formal ways of structuring interaction. On the other hand, the informal nature of learning processes in CoPs is likely to stimulate managerial reluctance against introducing CoPs because of a lack of manageability of these learning collectives. We propose at least partial manageability of learning processes in VCoPs and develop a conceptual transformation framework for knowledge generation in VCoPs. On the basis of the proposed framework, testable hypotheses about how firms can manage knowledge generation in VCoPs at least indirectly, that is, by shaping the social structure within VCoPs, are derived.

The success potential of international R&D cooperation

Cooperation in Research and Development constitutes a new phenomena both for managers as well as for management scientists. Starting in the early Eigthies there has been an immense growth of such cooperations between Single - even competing - enterprises (Hagedoom, 1991). By pooling resources and realizing synergies firms try to gain various positive effects as e.g. generation of new ideas, saving of time and costs or reduetion of risks (Rotering, 1990). However, cooperations also encounter potential pitfalls caused by opportunistic behavior of the partners who remain independent and who pursue foremost their own interests (Bresser, 1986). The variety of arguments in favor of and against R&D-cooperations as well as the spread of de-facto successes and failures show the high complexity of the issue (Hagedoom, Schaakenraad, 1990). Due to the novelty of the phenomena, an integrated theoretical model explaining success or failure has not been developed by now. The explanatory approaches derive from different theoretical diseiplines, their conclusions are in part complementary, and in part they are controversial. This study tries to integrate key elements derived from theory. Arguments in favor and against R&D Cooperation will be analyzed simultaneously. We want to explore the relative importance of the key variables that may determine the success potential of cooperative R&D agreements as well as their interaction effects. This will be achieved by a conjoint analysis.

Nutzenermittlung in wahlbasierter Conjoint-Analyse: Ein Vergleich von Latent-Class- und hierarchischem Bayes-Verfahren

SummaryTwo different concepts of disentangling noise from systematic deviations in Choice-Based Conjoint evaluations are compared: The Latent Class Technique and the Hierarchical Bayes procedure. In addition, a probabilistic interpretation of LC estimates is presented as an interims model. Conceptual differences between these models are discussed and hypotheses on resulting differences in estimates are derived. These are tested in a large-scale empirical study. The relative performance is evaluated in two distinct application areas: segment/level and individual/level estimates. The expected patterns are confirmed only partly by empirical evidence. It is shown that the structure of the underlying heterogeneity concept influences the achievable outcomes. Contrary to expectations it is shown that the segment-level estimates are highly stable across methods. While individual Hierarchical Bayes estimates are often of questionable quality, they are to be preferred against the Latent Class estimates, because they detect outliers reasonably well and provide more flexibility in the data evaluation.

Diskussion der Conjointanalyse in der Forschung

Um die Anwendung und Verbreitung einer Methode in der wissenschaftlichen Forschung zu untersuchen, konnen bibliometrische Analysen angewendet werden. Bibliometrische Analysen haben sich als Instrument zur Meta-Analyse von wissenschaftlichen Diskursen etabliert, da Zitate und Referenzen den formalen Informationsaustausch in den Wissenschaften indizieren (Hoffman/Holbrook 1993). In dieser Arbeit werden die Zitations- und Kozitationsanalyse als Instrumente der bibliometrischen Analysen uber Conjointanalysen verwendet. Mittels Zitationsanalyse konnen der absolute und der relative Wert von Veroffentlichungen ermittelt werden. Bei der Kozitationsanalyse wird uber eine rein quantitative Bewertung hinaus eine vertiefte inhaltliche Analyse vorgenommen. Basierend auf der Grundidee, dass gemeinsam zitierte Artikel wahrscheinlich miteinander verwandt sind, wird im Rahmen der Koziationsanalyse die Haufigkeit des gemeinsamen Auftretens zweier Publikationen untersucht. Anhand gemeinsamer Referenzen werden so genannte „Schools of thought“ und gemeinsame Forschungsrichtungen aufgedeckt. Im Folgenden wird die Zitationsanalyse einleitend behandelt, um anhand der Ergebnisse erste Einblicke in die Wissenschaftslandschaft zu gewinnen. Mittels Koziations- und Faktorenanalyse werden anschliesend Forschungsrichtungen aufgedeckt, die mit Hilfe von Netzwerkanalysen visualisiert werden.

Success potential of international R&D co- operations

Key success factors for co-operative research and development projects and their interactive effects are examined. Hypotheses are derived from theoretical and empirical evidence. They are tested simultaneously, using an experimental design. Results support, in general, the expected directions of functional and dysfunctional effects. They also show that preferences vary between co-operators and that different types can be distinguished. The method of conjoint measurement is applied to a new area. The technique is described and assessed. It is shown that new insights can be gained by implementing this simultaneous method of evaluation. Illustrations are included to ease further applications in this area.