The impact of functional and social value on the price of goods
According to hedonic pricing theory (HPT) market forces operate on individual characteristics
of a good, and the price of a product is the aggregate of the price across those characteristics.
The relationship between price and characteristics remains poorly understood
because characteristic qualities are hard to quantify, people have varying levels of information
about characteristics, and people have heterogeneous preferences over characteristics.
By analyzing data from a large, market-driven virtual world we are able to test HPT,
while largely avoiding these pitfalls. We find that a linear model with functional characteristics
predicts the prices poorly, but a log-linear model performs quite well. Adding social characteristics
to this log-linear model improves the predictions substantially. This work strongly
supports HPT and demonstrates a “rational” calculus including social value.
In the article author consider approach to client’s base generation on decision tree method. Author stresses readers’ attention on phenomena of inadequate choice influencing on best alternative selection.
The problem of axiomatic and algorithmic constructions of the threshold decision making is studied in the case when individual opinions are given as m-graded strict preferences (with m ≥ 3). It is shown that the only rule satisfying the introduced axioms is the threshold rule. Two explicit algorithms are presented: the ordering algorithm, under which the vector-grades of alternatives are successively written out, and an enumerating social decision function corresponding to the natural order of the weak order equivalence classes.
The article is based on the introductory part of the collection on “Material Culture and Technology in Everyday Life: Ethnographic Approaches” (2009). The author presents a brief review of concepts that have been lately employed in research on material or technological culture. He attempts to show that different disciplines do in fact use adjacent notions and concepts in thinking about materiality, and tries to delineate ways of bringing the different research traditions to a unified platform that could serve as a theoretical foundation for the complex materialistic study of technological culture.
The issues of choice in traditional psychology exists with the topics of planning and decision making. on influencing of existential psychology the issue of choice becomes connected with personal responsibility and taking on uncertainty, which are closely connected to the personal potential of the subject.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.