Estimation of heterogeneous preferences, with an application to demand for internet services

This paper presents a structural econometric framework for discrete and continuous consumer choices in which unobserved intrapersonal and interpersonal preference heterogeneity is modeled explicitly. It outlines a simulation-assisted estimation methodology applicable in this framework. This methodology is illustrated in an application to analyze data from the U.C. Berkeley Internet Demand Experiment

Posterior inference on the degrees of freedom parameter in multivariate-t regression models

Economics

Regression models under competing covariance matrices: A Bayesian perspective

Economics

A Bayesian note on competing correlation structures in the dynamic linear regression model

Economics

Evidence for a Common Representation of Decision Values for Dissimilar Goods in Human Ventromedial Prefrontal Cortex

To make economic choices between goods, the brain needs to compute representations of their values. A great deal of research has been performed to determine the neural correlates of value representations in the human brain. However, it is still unknown whether there exists a region of the brain that commonly encodes decision values for different types of goods, or if, in contrast, the values of different types of goods are represented in distinct brain regions. We addressed this question by scanning subjects with functional magnetic resonance imaging while they made real purchasing decisions among different categories of goods (food, nonfood consumables, and monetary gambles). We found activity in a key brain region previously implicated in encoding goal-values: the ventromedial prefrontal cortex (vmPFC) was correlated with the subjects' value for each category of good. Moreover, we found a single area in vmPFC to be correlated with the subjects' valuations for all categories of goods. Our results provide evidence that the brain encodes a "common currency" that allows for a shared valuation for different categories of goods

Neural Mechanisms Underlying Paradoxical Performance for Monetary Incentives Are Driven by Loss Aversion

Employers often make payment contingent on performance in order to motivate workers. We used fMRI with a novel incentivized skill task to examine the neural processes underlying behavioral responses to performance-based pay. We found that individuals’ performance increased with increasing incentives; however, very high incentive levels led to the paradoxical consequence of worse performance. Between initial incentive presentation and task execution, striatal activity rapidly switched between activation and deactivation in response to increasing incentives. Critically, decrements in performance and striatal deactivations were directly predicted by an independent measure of behavioral loss aversion. These results suggest that incentives associated with successful task performance are initially encoded as a potential gain; however, when actually performing a task, individuals encode the potential loss that would arise from failure

The separate neural control of hand movements and contact forces

To manipulate an object, we must simultaneously control the contact forces exerted on the object and the movements of our hand. Two alternative views for manipulation have been proposed: one in which motions and contact forces are represented and controlled by separate neural processes, and one in which motions and forces are controlled jointly, by a single process. To evaluate these alternatives, we designed three tasks in which subjects maintained a specified contact force while their hand was moved by a robotic manipulandum. The prescribed contact force and hand motions were selected in each task to induce the subject to attain one of three goals: (1) exerting a regulated contact force, (2) tracking the motion of the manipulandum, and (3) attaining both force and motion goals concurrently. By comparing subjects' performances in these three tasks, we found that behavior was captured by the summed actions of two independent control systems: one applying the desired force, and the other guiding the hand along the predicted path of the manipulandum. Furthermore, the application of transcranial magnetic stimulation impulses to the posterior parietal cortex selectively disrupted the control of motion but did not affect the regulation of static contact force. Together, these findings are consistent with the view that manipulation of objects is performed by independent brain control of hand motions and interaction forces

Free and open source software adoption framework for Swiss small and medium-sized tourist enterprises

The link between IT and the hospitality and tourism industry has been the focus of many research initiatives. As the hospitality and tourism sectors significantly contribute to a nation’s economy, it is imperative that hospitality and tourism enterprises enhance their competitiveness to participate and survive in the global competition. It is common that the tourism and hospitality sector in any economy consists primarily of small and medium-sized enterprises (SMEs). In the case of Switzerland, tourism and hospitality is one of the sectors that employs a significant workforce but is mainly comprised of SMEs. Swiss tourism SMEs are under immense pressure to achieve and maintain a sustainable competitive advantage. Although information technology (IT) adoption has been strongly advocated for tourism enterprises to ensure their success in the global tourism value chain, tourism SMEs have not been utilising IT solutions in their businesses due to the prohibitive costs and a lack of appropriate information about IT solutions. A special class of IT applications known as free and open source software (F/OSS) is growing in prominence and offers scope to provide viable and affordable solutions for various operational and strategic levels for businesses. F/OSSs are socially developed software solutions that are primarily low cost in comparison to their proprietary counterparts. This thesis argues that, in the context of Swiss tourism SMEs, F/OSS-type applications can provide low-cost and high-quality technological solutions, which could assist in improving their competitiveness. Accordingly, the objective of this study is to create an F/OSS adoption framework, which enables analysis of Swiss SMTEs’ willingness to adopt F/OSS applications in their operations. Based on the level of FOSS development and the potential areas for technology adoption within SMTEs areas as outlined in the previous literature, this study proposes and empirically tests an F/OSS adoption model in the context of Swiss tourism SMEs. The model identifies direct and indirect determinants of FOSS adoption which are moderated by demographic factors (age, gender, education and internet experience). The research design consisted of sampling techniques, questionnaire development, qualitative interviews, and pre- and pilot testing of the survey instrument. In order to test the model, data was collected electronically from 152 cross-sectional participants. The data analysis consisted of descriptive analysis and structural equation modelling (SEM). The results of this analysis demonstrated that the predictors of BI to adopt F/OSS explained 23.2 per cent of the variance. Semi-structured interviews were conducted to further validate the research model. In terms of a general F/OSS acceptance model in the context of Swiss SMTEs, based on the findings of the current research, effort expectancy, social influence and community influence are significant determinants of Swiss SMTEs’ behavioural intention towards F/OSS adoption, more than performance expectancy and facilitating conditions. Moreover, the characteristics of Swiss SMTEs and of F/OSS itself could be valid factors influencing the behavioural intentions of Swiss SMTEs. The main contribution of this thesis lies in filling the gap in the research by proposing and testing an F/OSS adoption model that can assess how F/OSS-type applications might be adopted by tourism SMEs. The model contains both direct and indirect determinants of F/OSS adoption. Researchers and practitioners can benefit from the results of this study as it contributes towards our understanding of SMEs’ stance on and intentions to adopt F/OSS