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Consumer choice theory (CCT) and the law of diminishing marginal utility help to explain shoppers that value less and prioritize needs. Additional units provide a marginal return on investment. Buying more does not mean equivalent gains for additional money spent. The researchers developed and validated the necessity shopper scale (NSS) to study need-focused shoppers.

The researchers followed standard psychometric practices to create and validate the NSS. The researchers performed item development, data collection, exploratory analysis, confirmatory factor analysis, and predictive validity analysis using survey data (N = 1,266).

Discriminant and convergent validity analyses demonstrated that the measure was distinct from existing measures. Predictive validity analysis found necessity shoppers (NS) are more likely to buy one over buy one get one half off (BOGOHO). NS were associated with a higher connection to community/group (CTCG). Higher hyperopia (i.e. disinclination to indulgence) with necessity shopping beliefs heightened this CTCG. A higher CTCG was associated with a greater likelihood to select BOGOHO.

NS (more connected to others) buy more to share with others, while buying just enough for themselves. Social connections are long-term investments involving more people and more needs to fulfill. Brands marketed with communal values and able to enhance social connections are discussed as implications to encourage NS to buy more.

During the early SARS-CoV-2 (COVID-19) pandemic outbreak, the Center for Disease Control and Prevention (CDC) stated masks “may not protect the wearer, but it may keep the wearer from spreading the virus to others”. Health officials revised mask guidelines to include both the wearer and others, but contradiction became a focal point for online debate and credibility. While revised policies eventually became adopted by the public, there was loss time and lives during this critical stage. This study investigates collectivist messaging on public policy support.

COVID-19 public policy hypocrisy was defined as the gap between supporting community policies while rejecting policies more likely to impact the individual. United States participants (N = 1,605) completed questionnaires. Moderated mediation analysis was conducted using SPSS PROCESS.

Those high on collectivism and high on global personal impact associated with lower COVID-19 public policy hypocrisy. These individuals indicated consistent support for community and individual policies, likely requiring personal sacrifices. Indirect conditional effects of lower conscientiousness associated with higher hypocrisy among those collectivistic.

Participants evaluated preference to original public safety ads, representative of basic societal and individual benefits. Those higher on collectivism preferred societal “we” versus individual “me” public safety ads. Implications discuss benefits of personal and communal public health messaging in an individualistic society so businesses can reopen. Entrepreneurs experienced major economic setbacks that effective public health policies could have mitigated.

Using Japan REITs stock data, this paper examines the risk‐return relations conditional on up and down markets periods. The results show that beta is significantly and positively (negatively) related to realized returns in up (down) markets before and after controlling for extra risk factors. The same conditional results are found for unsystematic risk and total risk, providing evidence that investors do not hold well‐diversified portfolios. Though skewness is significantly priced, the coefficients are unexpectedly positive (negative) in up (down) markets, indicating that investors dislike positively skewed portfolios and would ask for compensation if they are required to hold them during up markets. One possible reason is that the investors have a poor concept of skewness and/or they are too aggressive during bullish markets and so they ignore the benefit of positive skewness. Subsidiary results highlight that there is no seasonal effect in the conditional relation between beta/unsystematic risk/total risk/skewness and returns. This study is the first comprehensive study of the risk‐return relations in Japan REITs market, which provides out‐of‐sample evidence relative to earlier tests on Asian and international stock markets. The findings give important insights and provide useful guidance on investing in Japan REITs market.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

Advances in Econometrics is a series of research volumes first published in 1982 by JAI Press. The authors present an update to the history of the Advances in Econometrics series. The initial history, published in 2012 for the 30th Anniversary Volume, describes key events in the history of the series and provides information about key authors and contributors to Advances in Econometrics. The authors update the original history and discuss significant changes that have occurred since 2012. These changes include the addition of five new Senior Co-Editors, seven new AIE Fellows, an expansion of the AIE conferences throughout the United States and abroad, and the increase in the number of citations for the series from 7,473 in 2012 to over 25,000 by 2022.

The purpose of this paper is to understand the impact of transformational leadership (TL) on follower emotional intelligence (EI) and examine the potential mediation role played by follower EI in the relationship between TL and follower outcomes (i.e. growth satisfaction in the job and job stress (JS)).

Data were obtained through survey using questionnaire collected from 908 employees who worked across six different sectors, i.e. manufacturing, IT, healthcare, hospitality, educational and public services in Southern India. The mediation model proposed in this study was tested using structural equation modelling and bootstrapping method.

The relationship between TL and Follower EI was significant. Follower EI was found to partially mediate the relationship between TL and followers’ growth satisfaction in job. Contrary to expectations, the follower EI did not significantly predict JS in this study and hence the follower EI did not mediate in the proposed model. However, follower EI and growth satisfaction in the job jointly mediated the relationship between TL and follower JS fully.

Self-report bias about supervisors’ TL behaviours and followers’ own EI assessment and collection of data from the mono-source (subordinate self-report) might have impacted the results of this study. Moreover, some items were negatively worded and reverse coded as cognitive speed bumps to restrain the respondent’s tendency to rush through answering the survey questionnaire.

This study established a partial and joint mediation of follower EI on the relationship between TL and follower outcomes. Basing on these findings, this study highlights the need for the practitioners to better understand the importance of EI training for the leaders in the organisations for obtaining better outcomes in the followers.

The study establishes the fact that the attunement of transformational leaders’ EI and follower EI help leaders as well as followers to guide their behaviour towards positive outcomes.

This study is among the first to examine the impact of TL on follower EI and the potential mediation of follower EI between TL and follower outcomes. From a theoretical perspective, this study is one step closer to fully understand the intervening process between TL and follower outcomes.

There has been a dramatic increase in the adoption of service robots in hotels, potentially replacing the human workforce. Drawing on Social Amplification of Risk Framework, this study aims to examine the moderating effect of transformational leadership on the indirect relationships between Gen Z employees’ tech-savviness and social skills on industry turnover intention via service robot risk awareness (SRRA).

This study collected two-wave time-lagged multilevel data of 281 frontline Gen Z hotel employees from 54 departments in China. Participants were asked to rate their tech-savviness, social skills and SRRA in the first survey. They rated their supervisor’s transformational leadership and industry turnover intention one week later.

Multilevel path analysis results showed SRRA mediates the negative indirect relationship of Gen Z employee’s tech-savviness and social skills on industry turnover intention. Transformational leadership weakened the positive effect of SRRA on industry turnover intention.

This study contributes to the growing literature on service robots by investigating the antecedents and outcomes of employees’ SRRA. To the best of the authors’ knowledge, it is one of the first empirical studies investigating the role of leadership to mitigate the negative consequences of employee’s SRRA. Managers can use the results of this study to implement training programs and ensure that employees and service robots successfully coexist in the workplace.

Many dynamic problems in economics are characterized by large state spaces which make both computing and estimating the model infeasible. We introduce a method for approximating the value function of high-dimensional dynamic models based on sieves and establish results for the (a) consistency, (b) rates of convergence, and (c) bounds on the error of approximation. We embed this method for approximating the solution to the dynamic problem within an estimation routine and prove that it provides consistent estimates of the modelik’s parameters. We provide Monte Carlo evidence that our method can successfully be used to approximate models that would otherwise be infeasible to compute, suggesting that these techniques may substantially broaden the class of models that can be solved and estimated.