Behavioral economics · Konu · Gümüşhane Üniversitesi

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Kitap BölümüYayıncıda açık erişim2024/r/gumushane/20440
Behavioral economics and monetary wisdom: A cross-level analysis of monetary aspiration, pay (dis)satisfaction, risk perception, and corruption in 32 nations
Tang, Thomas Li-Ping; Li, Zhen; Özbek, Mehmet Ferhat; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Ansari, Mahfooz A.; Sutarso, Toto; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte
Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains–losses domain and high–low probability. Pay dissatisfaction (in the losses) excites dishonesty in the name of justice at the individual level. Corruption Perceptions Index, CPI, signals a high–low probability of getting caught for dishonesty at the country level. We theorize: Decision-makers adopt avaricious love of money aspiration as a lens and frame dishonesty in the gains–losses domain (pay satisfaction–dissatisfaction, Level 1) and high–low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction curbs dishonesty across nations consistently. Cross-level three-dimensional visualization demonstrates (6500 managers in 32 countries across six continents): With high aspiration, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations; pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities—maximizing expected utility. Low aspiration and high pay satisfaction consistently create low dishonesty—achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations, providing novel insights to business ethics, the environment, and responsibility.
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Kitap BölümüYalnız künye2024/r/gumushane/12757
Behavioral economics and Monetary Wisdom across 32 cultures: Good apples enjoy a good quality of life in good barrels
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
Monetary Wisdom asserts that individuals apply their deep-rooted values (ardent monetary aspirations) to frame critical concerns in the immediate-proximal and omnibus-distal contexts and strategically maximize expected utility (achieve financial goals) and ultimate serenity (happiness). This study explores the bright side of Monetary Wisdom and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the micro and individual level (Z income within each country) and the macro and national and global level (GDP per capita). We theorize: Managers with low love of money motive but high stewardship behavior will have high subjective well-being: pay satisfaction and quality of life. Data collected from 6586 managers in 32 cultures across 6 continents support our theory. Interestingly, GDP per capita is related to life satisfaction, but not to pay satisfaction. Individual income is related to both life and pay satisfaction. Neither GDP nor income is related to the Happiness construct (money makes people happy). For the whole sample, low motives, high stewardship behaviors, and high cognitions identify the latent Monetary Wisdom (MW), which, in turn, leads to higher pay satisfaction than life satisfaction. Results of our formative model challenge the notion that motives and cognitions are consistent in predict outcomes. Our theoretical model across three GDP groups (high, medium, and low GDP levels) offers additional innovative discoveries: In high GDP (rich) entities, “high income” not only reduces aspirations—“Rich, Motivator, and Power,” but also promotes stewardship behavior—“Factors Budget, Give/Donate, and Contribute” and cognitive meaning, “Factor Achievement.” After controlling income, we demonstrate the bright side of Monetary Wisdom: Low love of money motive but high stewardship behavior define Monetary Wisdom, which contributes to higher life satisfaction than pay satisfaction. “Good apples enjoy a good quality of life in good barrels”. This notion adds another explanation to managers’ low magnitude of dishonesty in entities with high Corruption Perceptions Index (CPI) (risk aversion for gains in the high probability context). In medium GDP countries, high income is negatively related to Factors Motivator (motive), Budget (behavior), and Power (cognition). Managers enjoy higher life satisfaction than pay satisfaction. However, in low GDP (poor) entities, high income is related to poor Budgeting skills and escalated Happiness. Interestingly, income leads to the notion of high Happiness (cognition) for managers in low GDP countries only. Managers experience equal satisfaction with pay and life. Results of Monetary Wisdom add a new vocabulary to the conversation of monetary aspirations, intelligence, income, GDP, happiness, subjective well-being, good and bad apples, good and bad barrels, corruption, and behavioral ethics.
İncele
MakaleAçık Erişim2023/r/gumushane/10702
Behavioral economics and monetary wisdom: A cross-level analysis of monetary aspiration, pay (dis)satisfaction, risk perception, and corruption in 32 nations
Tang, Thomas Li-Ping; Li, Zhen; Özbek, Mehmet Ferhat; Lim, Vivien K. G.; Teo, Thompson S. H.; Ansari, Mahfooz A.; Sutarso, Toto; Garber, Ilya; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte
Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect-maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion-achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility.
İncele
MakaleAçık Erişim2018/r/gumushane/10699
Monetary Intelligence and Behavioral Economics Across 32 Cultures: Good Apples Enjoy Good Quality of Life in Good Barrels
Tang, Thomas Li-Ping; Sutarso, Toto; Ansari, Mahfooz A.; Lim, Vivien Kim Geok; Teo, Thompson Sian Hin; Arias-Galicia, Fernando; Garber, Ilya E.; Chiu, Randy Ki-Kwan; Charles-Pauvers, Brigitte; Luna-Arocas, Roberto
Monetary Intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the bright side of Monetary Intelligence and behavioral economics, frames money attitude in the context of pay and life satisfaction, and controls money at the macro-level (GDP per capita) and micro-level (Z income). We theorize: Managers with low love of money motive but high stewardship behavior will have high subjective well-being: pay satisfaction and quality of life. Data collected from 6586 managers in 32 cultures across six continents support our theory. Interestingly, GDP per capita is related to life satisfaction, but not to pay satisfaction. Individual income is related to both life and pay satisfaction. Neither GDP nor income is related to Happiness (money makes people happy). Our theoretical model across three GDP groups offers new discoveries: In high GDP (rich) entities, high income not only reduces aspirations-Rich, Motivator, and Power, but also promotes stewardship behavior-Budget, Give/Donate, and Contribute and appreciation of Achievement. After controlling income, we demonstrate the bright side of Monetary Intelligence: Low love of money motive but high stewardship behavior define Monetary Intelligence. Good apples enjoy good quality of life in good barrels. This notion adds another explanation to managers' low magnitude of dishonesty in entities with high Corruption Perceptions Index (CPI) (risk aversion for gains of high probability) . In low GDP (poor) entities, high income is related to poor Budgeting skills and escalated Happiness. These managers experience equal satisfaction with pay and life. We add a new vocabulary to the conversation of monetary intelligence, income, GDP, happiness, subjective well-being, good and bad apples and barrels, corruption, and behavioral ethics.
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