The Experts below are selected from a list of 126411 Experts worldwide ranked by ideXlab platform
Tomer J Czaczkes - One of the best experts on this subject based on the ideXlab platform.
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trail pheromone does not modulate subjective reward evaluation in lasius niger ants
Frontiers in Psychology, 2020Co-Authors: Felix B Oberhauser, Stephanie Wendt, Tomer J CzaczkesAbstract:Comparing the Value of options is at the heart of economic decision-making. While an option may have an absolute quality (e.g. a food source has a fixed energy content), the perceived Value of the option may be malleable. The factors affecting the perceived Value of an option may thus strongly influence which option is ultimately chosen. Expectations have been shown to be a strong driver of perceived Value in both humans and social insects, causing an undervaluation of a given option if a better option was expected, and an overvaluation if a poorer one was expected. In humans, perceived Value can be strongly affected by social information. Value Perception in some insects has also been shown to be affected by social information, showing conformism as in humans and other animals. Here, over a series of experiments, we tested whether pheromone trail presence, a social information source, influenced the perceived Value of a food source in the ant Lasius niger. We found that the presence of pheromone trails leading to a sucrose solution does not influence food acceptance, pheromone deposition when returning from a food source, drinking time, or frequency of U-turns on return from the food. Two further assays for measuring changes in food acceptance, designed to increase sensitivity by avoiding ceiling effects, also showed no effect of pheromone presence on food acceptance. In a separate study, L. niger have also been found to show no preference for, or avoidance of, odors associated with foods found in the presence of pheromone. We are thus confident that trail pheromone presence does not affect the perceived Value of a food source in these ants.
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positive and negative incentive contrasts lead to relative Value Perception in ants
eLife, 2019Co-Authors: Stephanie Wendt, Kim Strunk, Jurgen Heinze, Andreas Roider, Tomer J CzaczkesAbstract:Humans usually assess things not according to their absolute Value, but relative to reference points - a main tenant of Prospect Theory. For example, people rate a new salary relative to previous salaries and salaries of their peers, rather than absolute income. We demonstrate a similar effect in an insect: ants expecting to find low-quality food showed higher acceptance of medium-quality food than ants expecting medium quality, and vice versa for high expectations. Further experiments demonstrate that these contrast effects arise from cognitive rather than mere sensory or pre-cognitive perceptual causes. Social information gained inside the nest can also serve as a reference point: the quality of food received from other ants affected the perceived Value of food found later. Value judgement is a key element in decision making, and thus relative Value Perception strongly influences which option is chosen and ultimately how all animals make decisions.
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relative Value Perception in an insect positive and negative incentive contrasts in ants
bioRxiv, 2018Co-Authors: Stephanie Wendt, Andreas Roider, Tomer J CzaczkesAbstract:When choosing between two options, a sensible strategy is to choose the highest Value option. To do this, both options must be evaluated and compared. The way Value is judged and utility is perceived therefore has strong effects on which option is chosen. Traditionally, Value was considered absolute. However, research on human decision-making suggests that, for us, utility is relative and based on past experiences or expectations. The study of successive contrast effects suggests that the same might be true for animals. Here we show that ants which had previously experienced a low quality food source showed higher acceptance of medium quality food (e.g. 0.1M then 0.5M; positive contrast) than if they had received the medium food all along (e.g. 0.5M then 0.5M; control). Ants also showed lower acceptance of medium food when previously offered high quality food (e.g. 2M then 0.5M; negative contrast). Further experiments demonstrate that these contrast effects arise from psychological, not physiological or psychophysical, causes. Pheromone deposition also correlates with perceived reward Value, and ants also showed successive contrasts in their pheromone deposition. Contrast effects occurred not only when ants collected private information outside the nest, but also when information was received through trophallactic interactions in the nest. Relative Value Perception can therefore be expected to have strong effects not only on individual behaviour, but also on collective decision-making.
Abhijit Biswas - One of the best experts on this subject based on the ideXlab platform.
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reference prices in retail advertisements moderating effects of market price dispersion and need for cognition on consumer Value Perception and shopping intention
Journal of Product & Brand Management, 2004Co-Authors: Bidisha Burman, Abhijit BiswasAbstract:One main concern regarding the use of reference prices in advertisements relates to the possibility of deception due to consumers' positive response towards exaggerated or implausible claims. This paper examines the moderating roles of a contextual variable‐market price dispersion for a product category, and that of an individual level variable‐need for cognition, in influencing consumer evaluation of reference prices across two experiments. The results support the hypothesized effects of need for cognition and demonstrate that, for low need, for cognition individuals, increasing the level of reference price results in positive effects on Value Perception and shopping intention.
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consumer evaluation of low price guarantees the moderating role of reference price and store image
Journal of Consumer Psychology, 2002Co-Authors: Abhijit Biswas, Chris Pullig, Mehmet I Yagci, Dwane Hal DeanAbstract:This article reports the findings of 2 studies that examined the effects of low price guarantees (LPG) in retail advertisements within the framework of signaling theory. Overall, an LPG in an ad resulted in higher Value Perceptions and shopping intentions. Findings also suggest that the effect of an LPG is likely to be moderated by other price cues such as reference prices and by the price image of the store. An LPG resulted in higher Value Perception and shopping intention when reference prices were low or absent, but lowered search intention in the presence of a high reference price. Additional findings suggest that intention to search for a better price was lower, particularly when an LPG was offered by a low price image store. For high price image stores, an LPG increased Value Perceptions and shopping intentions, while also increasing search intentions, indicating the possibility that LPGs can act as a double-edged sword in certain instances. Managerial and public policy implications are also noted.
Felix B Oberhauser - One of the best experts on this subject based on the ideXlab platform.
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trail pheromone does not modulate subjective reward evaluation in lasius niger ants
Frontiers in Psychology, 2020Co-Authors: Felix B Oberhauser, Stephanie Wendt, Tomer J CzaczkesAbstract:Comparing the Value of options is at the heart of economic decision-making. While an option may have an absolute quality (e.g. a food source has a fixed energy content), the perceived Value of the option may be malleable. The factors affecting the perceived Value of an option may thus strongly influence which option is ultimately chosen. Expectations have been shown to be a strong driver of perceived Value in both humans and social insects, causing an undervaluation of a given option if a better option was expected, and an overvaluation if a poorer one was expected. In humans, perceived Value can be strongly affected by social information. Value Perception in some insects has also been shown to be affected by social information, showing conformism as in humans and other animals. Here, over a series of experiments, we tested whether pheromone trail presence, a social information source, influenced the perceived Value of a food source in the ant Lasius niger. We found that the presence of pheromone trails leading to a sucrose solution does not influence food acceptance, pheromone deposition when returning from a food source, drinking time, or frequency of U-turns on return from the food. Two further assays for measuring changes in food acceptance, designed to increase sensitivity by avoiding ceiling effects, also showed no effect of pheromone presence on food acceptance. In a separate study, L. niger have also been found to show no preference for, or avoidance of, odors associated with foods found in the presence of pheromone. We are thus confident that trail pheromone presence does not affect the perceived Value of a food source in these ants.
Alexander Mafael - One of the best experts on this subject based on the ideXlab platform.
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the influence of customer loyalty program design on the relationship between customer motives and Value Perception
Journal of Retailing and Consumer Services, 2014Co-Authors: Henning Kreis, Alexander MafaelAbstract:Abstract Despite the strong use in marketing practice, the effectiveness of loyalty programs is still heavily questioned among researchers. In our study we present an empirically tested framework that views customer loyalty programs (CLPs) with their differing designs as a moderating tool in a means-end relationship between customer motives and Value. By disentangling customer Value Perceptions of loyalty programs we contribute to the remaining question of the efficacy of CLPs and set the road for further research. Our results support the argument that CLPs can be an effective tool and are not only something that adds to the Value of a product or service, but rather creates Value by itself. However, this is only the case for programs that target prevailing customer motives and hence provide a higher level of perceived Value.
Hoseong Jeon - One of the best experts on this subject based on the ideXlab platform.
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effects of loyalty programs on Value Perception program loyalty and brand loyalty
Journal of the Academy of Marketing Science, 2003Co-Authors: Hoseong JeonAbstract:The authors investigate how reward schemes of a loyalty program influence perceived Value of the program and how Value Perception of the loyalty program affects customer loyalty. The results show that involvement moderates the effects of loyalty programs on customer loyalty. In high-involvement situations, direct rewards are preferable to indirect rewards. In low-involvement situations, immediate rewards are more effective in building a program's Value than delayed rewards. Under high-involvement conditions, Value Perception of the loyalty program influences brand loyalty both directly and indirectly through program loyalty. Under low-involvement conditions, there is no direct effect of Value Perception on brand loyalty.
