Information Provision and the Valuation of Social Issues. Societies are more than the sum of the transactions in which people engage. Understanding the tradeoffs that people make between social attributes embedded within products and the functional components of those products are critical if we are to value fully the consumption of the society. In particular, to the extent that the social component of consumption is undervalued or biased because of a lack of understanding of what is being pur ....Information Provision and the Valuation of Social Issues. Societies are more than the sum of the transactions in which people engage. Understanding the tradeoffs that people make between social attributes embedded within products and the functional components of those products are critical if we are to value fully the consumption of the society. In particular, to the extent that the social component of consumption is undervalued or biased because of a lack of understanding of what is being purchased, the society will be allocating its consumption dollar in a manner that is both economically and socially inefficient.Read moreRead less
Special Research Initiatives - Grant ID: SR0354611
Funder
Australian Research Council
Funding Amount
$30,000.00
Summary
Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, ....Management and Consumer Decision Making Network. This network brings together a multi-disciplinary research group to enhance frontier science in managerial/consumer decision making and choice behaviour. Our focus will on using our interaction to develop normative and descriptive theory by operationalising theories and methods from a mixture of disciplines. Individual/group decisions/choices underlie many aggregate societal phenomena like election outcomes, consumer demand, technology adoption, etc. Better understanding of such processes will lead to better models, better forecasts and better decision outcomes for Australia, and smarter use of information and data; something that can only come from a multi-disciplinary interaction of theory and method.Read moreRead less