This article offers a dynamic model of opaque over-the-counter markets. A seller searches for an attractive price by visiting multiple buyers, one at a time. The buyers do not observe contacts, quotes, or trades elsewhere in the market. A repeat contact with a buyer reveals the seller’s reduced outside options and worsens the price offered by the revisited buyer. When the asset value is uncerta...

Construal Level Theory (CLT; Trope & Liberman, 2003) proposes that pro-arguments (pros) constitute high-level construals and counter-arguments (cons) low-level construals. Therefore, pros are more salient for distant-future actions than are cons and the reverse holds for near-future actions (Eyal, Liberman, Trope, & Walther, 2004). We further predicted and results from one experiment show that ...

Who is in favour of domination? Surely some people have a strong interest in preserving it, but as this is not publicly confessable and people enjoy picturing themselves as moral, everyone will officially support a non-domination programme. What is more, Ian Shapiro suggests, in circumstances where ‘you cannot be confident of your ability to dominate others’, it is in your interest ‘to create a...

While in the past design focused on products, our new challenge is to focus on people. An understanding of perceptions and the emotional connections people form with products and services is critical factors in advancing the practice of design. This paper will begin by discussing our background at Smart Design in exploring design and perception. It will then discuss our current methods that hel...

People are often more confident than accurate. Past accounts of this overconfidence effect have focused on social-cognitive mechanisms, such as the biasing effects of judgmental heuristics and the faulty integration of relevant information. The current studies tested the idea that overconfidence is also a product of dissonance reduction. Specifically, we argue that overconfidence can result fro...

Previous research has indicated that children display gender-typed musical instrument preferences. Two studies were conducted to determine (a) whether these preferences can be modified by presenting counter-examples (i.e., instruments played by gender-inappropriate musicians) and (b) whether child gender or age (kindergarten vs. 4th grade) influences the efficacy of such interventions. A videot...

The cheetah is capable of incredible feats of maneuverability [1] and these maneuvers generally involve rapid swinging of the animal’s lengthy tail. Very little is understood about the cheetah’s use of its tail and the common view is that it is “heavy” and possibly used as a “counter balance” or as a “rudder”. Ultimately, a deeper understanding of this specialized animal will inspire future hig...

Leading market analysts such as Gartner, Forrester Research and IDC expect again for 2012 an increase of global information technology (IT) spending between 3.7% and 6.9% compared to 2011. This trend emphasises the fact that ensuring the effectiveness and efficiency of IT or IT evaluation is a substantial task of strategic IT management. Weighing costs and benefits is already a real challenge f...

People-counting data can be used in building-control systems to improve comfort and space management applications optimize building space. In this work, we consider a combi-sensor with single-pixel thermopile passive infrared sensor for people counting. We first develop signal model object temperature measurements under multiple occupancy. then propose counting method based on: cumulative sum (...

The management of IT carve-out projects is very challenging due to the strict time frame, the severe contractual penalties, the huge number of stakeholders and the various as well as unique IT tasks that have to be conducted. Up to now, there is no instrument for evaluating the readiness of the IT for a carve-out and also not for managing such a project. In order to address this, we develop a m...