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Scipedia A Free Service of IGI Global Scientific Publishing House Below please find a list of definitions for the term that you selected from multiple scholarly research resources. What is Reference Point Chapter 11

Handbook of Research on the Strategic Management of Family Businesses

Performance or wealth goals used in choosing alternatives. Published in Chapter: Preference Reversal Under Vulnerability: An Application of Neural Networks in Mexican Family Firms Aurora Correa-Flores (Tecnologico de Monterrey, Mexico)Source Title: Handbook of Research on the Strategic Management of Family BusinessesCopyright: © 2020 |Pages: 16 DOI: 10.4018/978-1-7998-2269-1.ch011 Abstract The behavioral agency theory explains that preferences have not always been stable over time and might change with the framing of the problem. A concept largely used in behavioral economics has been recently adopted in family firms' literature: preference reversal. Preference reversal explains that in the presence of vulnerability, family firms are willing to change their most critical point of reference, socioemotional wealth, and that they are willing to focus on financial wealth. This chapter introduces the concept of preference reversal, explains the application of preference reversal in family firms, and makes an empirical exploration of the presence of preference reversal. The study explores one of the cases of firm vulnerability: a low financial performance by applying neural networks. The study applies to Mexican family firms and finds indications of preference reversal. Full Text Chapter Download: US $37.50 Add to Cart More Results Chapter 133 Marketing Decisions with Reference Price Effect

Marketing Decisions with Reference Price Effect

When people make decisions, they often compare the options in a choice set with existing reference levels, which are called reference points. Published in Chapter: Marketing Decisions with Reference Price Effect; From: Encyclopedia of Business Analytics and Optimization Full Text Chapter Download: US $37.50 Add to Cart