Investigating the muti-scaling properties and connectedness of the sovereign bond yields: Hurst exponent and network analysis approach

Using daily yield data of 14 sovereign bond markets from emerging and developed economies from July 10, 2000, to July 10, 2022, we examine their scaling properties using generalized Hurst exponent and spectral density analysis and investigate the connectedness based on a network analysis approach. We consider the yields of 2-year and 10-year bond yields to investigate the scaling properties for short- and long-term sovereign bonds. This selection also allows us to examine sovereign bond spreads with respect to the USA. We also use regularized partial correlation network analysis to connect different countries in communities based on yields. We find that the scaling behavior of the bond yields for both terms fits well using the Hurst exponent and spectral analysis confirms this finding. Moreover, we also find that even though bonds in both cohorts show anti-persistent behavior except that of the USA, the developed economies' bond yields are relatively less anti-persistent as compared to those of emerging economies. The networks of both the 2-year and 10-year yields indicate community formation in various countries which provides diversification benefits to the investors. Most of the emerging countries are classified into one community in the long-tenure bonds as well but this concentration is more evident in the short-tenure bonds

Why consumers exaggerate in online reviews? Moral disengagement and dark personality traits

Diffusion of digital media has led to extensive reliance on online reviews for purchase decisions. However, consumers may routinely exaggerate about their own consumption experiences. Using moral disengagement theory and the dark personality trait , the present study seeks to enhance the understanding of consumers’ intentions to exaggerate about their consumption experience in online reviews. In order to demonstrate convergence of finding and replicability of the proposed relationships, four studies were conducted to examine consumers’ intention to exaggerate about their positive and negative experiences in online reviews for search and experience products respectively. Findings showed significant positive relationships between dark personality traits and intention to exaggerate in online reviews. Furthermore, moral disengagement significantly mediated intention to exaggerate for narcissists and psychopaths. The results reinforce the usefulness of the study for managers as these studies augment the understanding of consumer lying behavior in the context of online reviews and offer insights into mechanisms that might prevent the amplification of such reviews

Avoiding unanticipated power outages: households’ willingness to pay in India

Reliable electricity is a key factor in improving the living conditions of households and sustainable development of the country. Power outages restrict economic and social welfare of developing countries. This study used contingent valuation survey to elicit the factors affecting Indian household’s willingness to pay to avoid unanticipated power outages. The survey was outlined to ensure that a household gives preferences considering multiple aspects of the outages. The households were asked to state their willingness to pay for five different types of outages. Empirical data from 1043 Indian households were analyzed using double hurdle approach. The econometric results indicate that the households’ willingness to pay to avoid power outage strictly depend on the length of outages ranging, on average, from 30.2 INR (2 hours) to INR. 245.6 (12 hours). Further income and environmental attitude of respondents positively influence higher WTP to avoid power outages. Our findings provide useful insights for policy makers and utility companies to design more reliable and customer centric energy generation and distribution models