Search Results (582)

Using hedonic consumption theory (HCT) and a niche marketing strategy as analytical frameworks, our study examines consumer behavior in the luxury flower market, a swiftly growing segment of the global luxury goods industry. Adopting a nonexperimental, cross-sectional survey design, we collected primary data from 392 individuals from affluent households (defined as those with annual incomes exceeding $75,000, per standard demographic criteria) via purposive stratified sampling. Our questionnaire, which was reviewed by experts and tested in a pilot study, examined demographics, buying preferences, sustainability awareness, and hedonic motivations. The main findings show that most clients are well-educated women with substantial wealth. They care most about sensory, emotional, and symbolic qualities. Chi-square tests and logistic regressions robustly supported three hypotheses, gender disparities in appreciation, educational and sustainability awareness, and income influences on quality and variety emphasis, with descriptive evidence aligning with two further hypotheses regarding perceived supply shortages and sustainability preferences. The preferred places to buy include nurseries and high-end florists, suggesting opportunities for SMEs. Our study offers initial evidence supporting the application of HCT to perishable luxury floriculture among younger, educated, affluent consumers in North America. It underscores the hedonic appeal heightened by ephemerality and the potential influence of sustainability as a guilt-free enhancement, while indicating opportunities for niche marketing strategies through customization and sustainable sourcing. Our findings indicate opportunities for businesses aiming to reach comparable younger, educated, affluent demographics to fulfill unmet demand through sustainable sourcing, unique varieties, and customized experiences, which align with the SDGs. We conclude with a future research agenda. Full article

In recent years, the literature has concentrated on consumers’ sustainable attitudes and purchases, and the underlying mechanisms behind consumers’ sustainable buying decisions. Yet, to the best of our knowledge, studies that examine the impact of culture on attitudes and purchase behaviors towards sustainable fashion, through the prism of consumption values, and moderated by gender, are fragmented and limited. Elaborating on the dynamics of culture, gender, and consumption values, this study applies an online survey with 171 U.S. and 157 Greek participants to delve into sustainable fashion consumption. Notably, it reveals the effect of country on purchase behavior via consumption values and attitudes toward sustainable fashion, in the moderating presence of gender. U.S. (vs. Greek) men demonstrate higher attitudes and purchase behaviors towards sustainable fashion, driven by enhanced emotional and social value. U.S. (vs. Greek) women exert enhanced purchase behavior and social consumption value, while Greek women demonstrate higher levels of emotional value. These findings provide fruitful evidence with respect to the impact of cultural and demographic dynamics on sustainable fashion consumption, through the prism of consumption values. The study also highlights potential paths for future research that could help marketers delve into understanding sustainable fashion consumption. Full article

The rise of digital platforms has transformed marketing landscapes, with live-streaming emerging as a powerful tool for engaging audiences and shaping consumer behavior. While live-streaming e-commerce is rapidly expanding in Chinese and North American markets, empirical research comparing live-streaming impulse buying (LSIB) across cultural contexts remains limited. This study examined how atmospheric cues (ACs) are associated with LSIB in China and the United States through hedonic value (HV) and utilitarian value (UV), while also considering cultural value boundary conditions. Data were collected from 396 Chinese and 408 American consumers through online survey platforms. The measurement structure was first assessed using multi-group confirmatory factor analysis, and the main structural relationships were then tested using controlled multi-group latent structural equation modeling (SEM). Composite score path models were estimated as robustness checks, and moderation hypotheses were examined using interaction regressions on composite scores. In both countries, AC was positively associated with HV and UV, and HV was positively associated with LSIB. In the U.S. sample, UV was negatively associated with LSIB, whereas the corresponding association was not significant in China. Formal Wald tests did not indicate statistically significant cross-country differences in the focal structural paths. On the HV pathway, collectivism strengthened the relationship between AC and HV in China, and long-term orientation strengthened the relationship between AC and HV in the U.S. The findings suggested that the core stimulus–organism–response (S-O-R) mechanism replicated across two market contexts, while cultural orientations mainly condition the hedonic route. The study contributed to cross-context understanding of live-streaming consumption and provides evidence-based implications for digital marketing strategy. Full article

Early childhood caries (SECC) in children aged 3–4 years is a high-burden condition with consequences that extend beyond the dentition, including pain, infection, sleep disturbance, impaired nutrition, disrupted family functioning, and diminished quality of life. In contemporary pediatric practice, 38% silver diamine fluoride (SDF) and other minimally invasive approaches are widely used to stabilize disease while behavior matures, preventive strategies are intensified, or access to definitive care is secured. This perspective argues that SDF should be conceptualized not as a standalone solution, but as an evidence-supported interim stabilization strategy embedded within a defined, goal-directed care pathway. Its use is most appropriate when framed as a means of buying time under clear clinical intent, particularly in cases where teeth are expected to remain functional for years, symptoms are present, structural integrity is compromised, or follow up is uncertain. Although clinical guidelines and systematic reviews support SDF for arresting cavitated lesions in primary teeth, current evidence does not support its use as a universal long-term treatment for severe disease. Real-world data suggest that many SDF-treated teeth require additional intervention within approximately 2 years, and that delays to definitive care—including treatment under sedation or general anesthesia when indicated—are often relatively short. In response, this paper proposes a practical bridge-to-destination framework grounded in three principles: explicit treatment intent, child-centered outcomes, and predefined exit criteria to ensure a timely transition to definitive dental care. Rather than discouraging SDF use, this approach seeks to optimize its role within a continuum of dental care, emphasizing proportionality, transparency, and durable outcomes for children. Full article

Reservation prices determine which goods consumers are willing to buy and, therefore, shape demand curves in markets. Neoclassical economics postulates that reservation prices optimally reflect the marginal utility provided by a good given all other possible uses of the consumer’s budget, as well as a rational response to the information environment. In contrast, behavioral economics suggests that reservation prices are influenced by extraneous factors and are, thus, less stable and more difficult to predict. In this article, I propose a behavioral model of how the reservation price changes during sequential price searches. The model assumes bounded rationality, is rooted in the psychological theory of aspiration levels, and posits that the reservation price adjusts towards the lowest price known. A corollary is that when higher prices are charged in a market, consumers become willing to pay more in the short term. Results from an online laboratory experiment with more than 400 participants from the general population suggest that the model performs well in explaining the dynamics of the reservation price during a search spell. While the results imply that reservation prices are malleable, competition can protect consumers from sellers exploiting their adaptiveness. Full article

In the online shopping context, the proliferation of digital platforms has contributed to an increase in impulsive buying behavior (IBB), which can sometimes lead to regret. This study aims to explore the intrinsic and extrinsic stimuli that influence consumers’ online impulsive buying behavior, which subsequently affects their post-purchase cognitive dissonance, with the moderating role of price consideration (PC). The conceptual framework was formulated using the Stimulus–Organism–Response (S-O-R) model. A total of 813 responses were collected and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings revealed that perceived utilitarian value (PUV), perceived enjoyment (PE), fear of missing out (FOM), and green trust (GT) positively impact online impulsive buying behavior (IBB), which, in turn, positively impacts post-purchase cognitive dissonance (PCD). Moreover, a significant moderating role of PC is found in the relationship between IBB and PCD, suggesting that consumers with low price consideration tend to regret their impulsive buying more. The findings provide insights that guide online retail sellers and digital marketers to develop or implement customized strategies based on the intrinsic and extrinsic stimuli that influence customers’ impulsive buying and subsequent post-purchase cognitive dissonance. Full article

We propose Adaptive Inference, a portfolio management framework extending Active Inference to non-stationary financial environments. The framework integrates inference, control, and execution under endogenous uncertainty, modeling investment decisions as coupled dynamics of belief updating, preference encoding, and action selection rather than optimization over fixed objectives. In this approach, portfolio behavior is governed by the expected free energy (EFE) minimization, showing that classical valuation models emerge as limiting cases when epistemic components vanish. Using train–test evaluation on the ARKK Innovation ETF (2015–2025), we identify a Passivity Paradox: frozen belief transfer outperforms naive adaptive learning. A Professional Agent achieves a Sharpe ratio of 0.39 while its adaptive counterpart degrades to $-0.28$, reflecting belief contamination when learning from policy-dependent signals. Crucially, the architecture is not designed to generate alpha but to perform endogenous risk management that mitigates overtrading under regime ambiguity and distributional shift. Adaptive Inference Agents maintain long exposure most of the time while tactically reducing positions during high-entropy periods, implementing uncertainty-aware passive investing. All agents reduce realized volatility relative to ARKK Buy-and-Hold (43.0% annualized). Cross-asset validation on the S&P 500 ETF (SPY) shows that inference-guided risk shaping achieves a positive Entropic Sharpe Ratio (ESR), defined as excess return per unit of informational work, thereby quantifying the economic value of information under thermodynamic constraints on inference. Full article

Retailers must reevaluate store positioning when implementing omnichannel strategies. This study examines retailers’ strategic preferences toward in-store services, including Buy-Online-Pickup-in-Store (BOPS), Buy-Online-Return-in-Store (BORS), and their combined offering. A stylized model incorporating capacity constraints and strategic consumers’ purchase behavior is developed to analyze omnichannel impacts on brick-and-mortar operations from an inventory perspective. Firstly, profit-maximizing retailers benefit from reducing online channel inventory when handling product returns. Under high online return rates or stringent capacity constraints, retailers prefer maintaining physical-only channels to mitigate returns and capture cross-selling opportunities. Secondly, offering BOPS services remains a strategic advantage during periods of moderate capacity utilization. When the online consumer market expands, spillover effects increase, return rates decrease, and capacity constraints ease, it becomes feasible to consider jointly providing BORS services. Finally, BORS may migrate offline shoppers online, making it unsuitable for high-return-rate products. For omnichannel retailers, this study offers valuable insights into implementing omnichannel strategies under capacity constraints, empowering practitioners to make more informed decisions and optimize operational tactics. Full article

This paper investigates the relationship between institutional ownership and firm-level idiosyncratic volatility across European equity markets, with a particular focus on the moderating role of dividend policy. Using a sample of STOXX Europe 600 constituents from 2005 to 2025, we estimate idiosyncratic volatility via the Fama-French three-factor model and employ fixed-effects regressions with clustered standard errors. Our empirical results reveal a positive and statistically significant association between institutional ownership and idiosyncratic volatility, suggesting a destabilizing rather than stabilizing role in European markets. This volatility-enhancing effect is significantly more pronounced among dividend-paying firms and is primarily driven by transient institutional investors with high portfolio turnover. Furthermore, we find that: (1) larger firm size (market capitalization) and higher leverage (debt-to-capital ratio) are positively associated with heightened volatility; (2) growth-oriented firms (high market-to-book ratios) exhibit increased volatility, particularly among non-dividend payers; and (3) higher profitability (ROE) and favorable analyst coverage (buy recommendations) act as stabilizers, reducing idiosyncratic risk. These findings persist in both contemporaneous and lagged specifications. This study contributes to the literature by identifying dividend policy as a key channel through which institutional trading behavior amplifies firm-specific risk, providing novel evidence on the asset class effect within major European benchmark indices. Full article

Managing electronic waste (e-waste) in the Philippines is a critical challenge, no with roughly 80% handled by an informal sector using hazardous methods. This study develops a context-specific Circular Economy (CE) framework for urban Manila by quantifying the behavioral, institutional, and socio-economic factors influencing recycling efficiency. Using a hybrid methodology, quantitative data were collected from 435 informal recyclers. Structural Equation Modeling (SEM) supported 16 of 18 hypothesized pathways from the Theory of Planned Behavior (TPB), though Perceived Behavioral Control did not directly affect Intention. An Artificial Neural Network (ANN) sensitivity analysis identified economic factors, Income Level (84.01%) and Financial Incentives (82.86%), as the dominant predictors of behavior, followed by the Cultural–Cognitive Pillar (80.98%). This necessitates modifying the TPB for subsistence economies, where economic survival acts as a super-moderator. The resulting CE framework mandates inclusive policies, prioritizing “Economic First Interventions” like buy-back schemes to equitably integrate informal recyclers into formal Extended Producer Responsibility systems. Full article

This paper proposes an AI-based trading framework that integrates supervised price forecasting with reinforcement learning (RL)-based decision-making. The objective is to enhance both profitability and risk management in cryptocurrency trading by equipping RL agents with forward-looking market information and risk-aware incentives. The proposed methodology follows a two-stage design. First, a univariate long short-term memory (LSTM) model generates 72 bitcoin price forecasts. These predictions are used to compute future technical indicators, which are combined with current market indicators to construct an enriched, forward-looking state representation. Second, an RL agent is trained in this environment using a novel long-term reward function that incorporates transaction costs, drawdown penalties, volatility penalties, and delayed rewards to promote stable and sustainable trading behavior. Four state-of-the-art RL algorithms (PPO, SAC, TD3, and A2C) are systematically evaluated over randomized 180-day episodes using hourly bitcoin data. The results demonstrate that the proposed agent consistently outperforms conventional buy-and-hold and moving average crossover strategies, achieving an average profit ratio of 32% and a Sharpe ratio of 1.34. These findings highlight the novelty and effectiveness of combining mid-term price forecasts, enriched technical states, and risk-aware RL training for robust cryptocurrency trading. Full article

The present study analyzes the possibilities for diversification in the iGaming sector through the integration of concepts derived from financial derivatives theory. The main idea is the development of a model introducing a mechanism for buying and selling bets between two clients as a means of early position closure—an analog to option trading in capital markets. The model is structured in three phases and four conditions, forming eight scenarios with varying probabilities and expected returns. The analysis demonstrates that, under appropriate parameters, the innovation can be potentially profitable for clients and acceptable for the bookmaker, who may offset potential losses through an increased number of registrations and an enhanced corporate image. The proposed conceptual framework provides a theoretical foundation for the creation of a secondary market in iGaming, which could lead to greater market efficiency, increased liquidity, and the rationalization of player behavior. The results emphasize the significance of an interdisciplinary approach combining game theory, behavioral economics, and financial engineering as a basis for sustainable development and competitive advantage in the dynamically evolving iGaming industry. Full article

There is an increasing number of academic and regulatory investigations into the behavioral and psychological implications of using Buy Now, Pay Later (BNPL) services due to their rapid growth. There have been extensive investigations into impulse purchases using BNPL services; however, there has been relatively little focus placed upon examining post-purchase regret associated with BNPL service use. The purpose of this paper is to present a systematic review of the extant literature investigating how BNPL service use relates to both impulsive purchasing behavior and post-purchase regret. A total of ten empirical studies were identified through a comprehensive search of the Scopus database according to the PRISMA 2020 guidelines, which were all published between 2018 and 2025. The results indicated that BNPL features, including deferred payments, perceived affordability, and urgency cues, are consistent predictors of both greater impulsive purchasing and lower levels of payment salience. The results of this review, however, reveal that many existing studies have failed to directly measure post-purchase regret and instead rely on proxy indicators, including financial distress, emotional discomfort, and decreased well-being. These findings, therefore, highlight a major theoretical and methodological void in the existing literature. In addition, by providing a synthesis of the current evidence base, this review aims to provide a clearer understanding of how BNPL features influence both consumer decision-making processes and post-purchase emotional responses; additionally, this review highlights the necessity for future research to utilize valid measures of regret, longitudinal designs and ethically informed analytical frameworks when investigating the psychological impacts of adopting BNPL services. Full article

This study investigates the crucial role energy leaders play in driving strategic energy management (SEM) and accelerating cost savings within a manufacturing organization and consequently, the industrial sector. Whereas energy efficiency can be seen as an innovative business practice with irrefutable cost benefits, its effective implementation requires strategic leadership and a structured approach. This research analyzes data collected from 120 participants representing 71 companies attending the Energy Bootcamp events organized by the U.S. Department of Energy’s (DOE) Better Plants program. The collected data focused on the state of SEM implementation, the presence and responsibilities of energy leaders, and the formation and function of energy teams. The findings reveal a significant gap between the perceived importance of SEM and its actual adoption, highlighting the need for strong leadership to drive behavioral changes by championing energy efficiency initiatives. Results indicate that effective energy leaders possess a diverse skill set, including the ability to secure top management buy-in, foster a culture of energy consciousness, and collaborate across departments. This study emphasizes the importance of empowering energy leaders with clearly defined roles and responsibilities as well as the authority to build and lead cross-functional energy teams. Furthermore, integrating energy management into existing organizational structures and leveraging readily available resources are identified as key factors for successful implementation. This research underscores how dedicated leadership and effective SEM practices help achieve industrial energy efficiency goals, providing practical insights for organizations seeking to improve performance and contribute to a resilient future. Full article

The study explores how consumer buying behavior is influenced by artificial intelligence (AI) personalization, with a specific focus on responsible and sustainability-aligned digital marketing. Using an explanatory sequential mixed-methods design, the study analyzes a quantitative survey and qualitative interviews. Results show that purchase behavior is strongly affected by exposure to AI messages—especially when recommendations are relevant, timely, and emotionally appealing—and by trust in AI, while perceived lack of trust inhibits purchasing. Qualitative findings underscore affective responses alongside ethical concerns, perceived transparency, and perceived control over data. Overall, the study shows that effective personalization depends not only on algorithmic sophistication but also on users’ sense of relevance and autonomy and on ethical data governance. The conclusions highlight sustainability-consistent implications for marketers: increase data transparency, segment customers by privacy sensitivity, and adopt accountable, consent-based personalization to build durable trust and loyalty. Future research should examine longitudinal effects and cultural differences, acknowledging limits of small purposive qualitative samples for generalization and exploring how consumer trust, ethical perceptions, and responses to AI personalization evolve over time. Full article