{"title":"Markets from Interactions: The Technology of Mass Personalization in Consumer Banking","authors":"Zsuzsanna Vargha","doi":"10.2139/ssrn.1351624","DOIUrl":"https://doi.org/10.2139/ssrn.1351624","url":null,"abstract":"This paper explores the interactional foundations of markets as it examines a puzzle in banking technology. Customer Relationship Management was introduced at a Hungarian bank to personalize clerks’ interactions with clients. The software assembles customer profiles and calculates individualized sales offers, yet the outcome in face-to-face use is standardized. To explain this result the paper asks how the process of buyer-seller interaction accomplishes market exchange, complementing structural economic sociology, particularly its sampling bias and concept of social relationships as independent variables. Based on ethnographic methods - observation and interviews at a bank - the paper provides fine-grained analysis of the interaction process, finding that bank clerks try to smoothly interact simultaneously with the software-generated client profile and with the client in person, which limits their capacity to personalize. The paper contributes to the theory of markets in two ways. First, interaction dynamics structure market exchange. The specific spatial and temporal order of interacting enables and constrains how products can be offered and accepted. Exchange unfolds as actors negotiate and exploit the social and technical demands of interaction. Second, social relationships and fleeting impersonal transactions are not mutually exclusive ways of doing exchange. Interaction between buyer and seller completely blends anonymous calculative and familiar-trusting elements. Strategic market action may be oriented towards turning strangers into relationships and vice versa by reconfiguring how interactions are accomplished.","PeriodicalId":103559,"journal":{"name":"OB: Micro (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129548844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Problem With My Van (Un Problema con mi Furgoneta)","authors":"Pablo Fernandez","doi":"10.2139/SSRN.989563","DOIUrl":"https://doi.org/10.2139/SSRN.989563","url":null,"abstract":"Pablo and his wife have five children. As they like traveling by road with the whole family, often including the grandparents, they decided to buy a German van with nine seats. On October 24, 2005, Pablo took the van to the a dealer to have the spare key repaired. But the spare key was not ready until 5 weeks later. Pablo sent this case to the CEO in Spain of the carmaker and he got the following reply: \"Having read very carefully what you grandly describe as case, I have the following comments to make: I recommend that in future... you use the official complaints form or get in touch with customer service. The action of posting your \"case\" ... seems to obey demagogic or exhibitionistic instincts rather than the ethical precepts to be expected of a professor. Certainly, at Northwestern University, where I did my postgraduate work, the Ethics Committee would never have allowed faculty to give students a personal case. What action plan would you recommend to Pablo?","PeriodicalId":103559,"journal":{"name":"OB: Micro (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117046535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Brief Inventory of Behavioral Influences on the Subjective Risk Adjusted Discount Rates in Project Appraisal","authors":"A. Ashta","doi":"10.2139/ssrn.949647","DOIUrl":"https://doi.org/10.2139/ssrn.949647","url":null,"abstract":"Behavioral finance has emerged as a new paradigm in financial economics. It deals primarily with the influences of psychology on market finance and with market inefficiencies. The field of psychology, already very present in organizational psychology and decision-making, is slowly opening up applications in corporate financial decisions and more specifically in corporate finance techniques. Among these corporate finance decisions is the project evaluation decision or the investment decision. This is based on first calculating expectations and risk estimates and then making a decision. This paper looks at how psychology can influence on the calculation of subjective risk estimates which are used to evaluate projects. We break down the risk factors used in project finance as the real time value of money, perceptions of inflation, market risk and Beta , financial risk and firm-specific risk and study some psychological factors which can influence each of these and why these may be important. The psychological factors we study in this paper include patience and impatience, optimism and pessimism, the notion of time in different cultures, inter-temporal differences/ dynamic inconsistency, inner tempo, achievement orientation, past or future orientation, addiction, frequency of evaluations, horizon / myopia, money illusion, loss aversion, values and lifestyles, agency problems,organizational decentralization, adverse selection, limited liability, venture capital firms, qualitative projects, example human capital, familiarity bias, confidence and hubris.","PeriodicalId":103559,"journal":{"name":"OB: Micro (Topic)","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121625269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An Analysis of the Journal Article Output of Irish-Based Economists, 1970 to 2001","authors":"A. Barrett, B. Lucey","doi":"10.2139/SSRN.958733","DOIUrl":"https://doi.org/10.2139/SSRN.958733","url":null,"abstract":"This paper provides, for the first time, a comprehensive analysis of the journal article output of Irish-based economists over a thirty-year period. Using EconLit data, and supplementing where necessary, we provide details of the journals wherein Irish-based economists have published, provide details of the publishing histories of high volume publishers and discuss the evolving productivity profile of Irish-based economists. Our evidence shows that in general Irish-based economists have greatly increased the levels of output in the 1990s, but that this may have been at the expense of quality.","PeriodicalId":103559,"journal":{"name":"OB: Micro (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116415117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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