University of Mannheim

About: University of Mannheim is a education organization based out in Mannheim, Germany. It is known for research contribution in the topics: Context (language use) & Politics. The organization has 4448 authors who have published 12918 publications receiving 446557 citations. The organization is also known as: Uni Mannheim & UMA.

The Disposition Effect in Securities Trading: An Experimental Analysis

Abstract: The ‘disposition effect’ is the tendency to sell assets that have gained value (‘winners’) and keep assets that have lost value (‘losers’). Disposition effects can be explained by the two features of prospect theory: the idea that people value gains and losses relative to a reference point (the initial purchase price of shares), and the tendency to seek risk when faced with possible losses, and avoid risk when a certain gain is possible. Our experiments were designed to see if subjects would exhibit disposition effects. Subjects bought and sold shares in six risky assets. Asset prices fluctuated in each period. Contrary to Bayesian optimization, subjects did tend to sell winners and keep losers. When the shares were automatically sold after each period, the disposition effect was greatly reduced.

Mood and persuasion: A cognitive response analysis.

Abstract: The impact of happy and sad moods on the processing of persuasive communications is explored. In Experiment 1, sad subjects were influenced by a counter attitudinal message only if the arguments presented were strong, not if they were weak Happy subjects, however, were equally persuaded by strong and weak arguments, unless explicitly instructed to pay attention to the content of the message. Subjects' cognitive responses revealed a parallel pattern, suggesting that the findings reflect the impact of mood on cognitive elaboration of the message. In Experiment 2, working on a distractor task during message exposure eliminated the advantage of strong over weak arguments under bad-mood conditions. Good-mood subjects were not affected by a distracting task, suggesting that they did not engage in message elaboration to begin with. It is concluded that subjects in a good mood are less likely to engage in message elaboration than subjects in a bad mood.

eTransQual: A Transaction Process-Based Approach for Capturing Service Quality in Online Shopping

Abstract: Existing e-service quality scales mainly focus on goal-oriented e-shopping behavior excluding hedonic quality aspects. As a consequence, these scales do not fully cover all aspects of consumer's quality evaluation. In order to integrate both utilitarian and hedonic e-service quality elements, we apply a transaction process model to electronic service encounters. Based on this general framework capturing all stages of the electronic service delivery process, we develop a transaction process-based scale for measuring service quality (eTransQual). After conducting exploratory and confirmatory factor analysis, we identify five discriminant quality dimensions: functionality/design, enjoyment, process, reliability and responsiveness. All extracted dimensions of eTransQual show a significant positive impact on important outcome variables like perceived value and customer satisfaction. Moreover, enjoyment is a dominant factor in influencing both relationship duration and repurchase intention as major drivers of customer lifetime value. As a result, we present conceptual and empirical evidence for the need to integrate both utilitarian and hedonic e-service quality elements into one measurement scale.