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        Developing fashion retail operations to growth in emerging markets

        Simone Guercini,Andrea Runfola 한국마케팅과학회 2019 Journal of Global Fashion Marketing Vol.10 No.2

        This paper looks at the relations between the rise of emerging markets and the store openings of marketers from advanced countries. It focuses on the retail operations of Italian fashion brands that have opened sales points in order to gain entry into foreign markets. The paper presents an analysis of an expressly developed database of 2,141 store openings by 311 Italian fashion brands in 322 cities in 82 countries over the period 2006–2015. The analysis highlights a shift of brands stores openings from the developed countries toward emerging markets and discusses the impact of such trend and its relations with the heterogeneity of the firms and markets involved. Some propositions are then formulated regarding the consequences for brand marketers in the developed nations of this ongoing shift of wealth towards the emerging countries.

      • KCI등재

        Genetic variability of the prion protein gene (PRNP) in wild ruminants from Italy and Scotland

        Simone Peletto,Matteo Perucchini,Cristina Acín,Mark P. Dalgleish,Hugh W. Reid,Roberto Rasero,Paola Sacchi,Paula Stewart,Maria Caramelli,Ezio Ferroglio,Elena Bozzetta,Daniela Meloni,Riccardo Orusa,Sere 대한수의학회 2009 JOURNAL OF VETERINARY SCIENCE Vol.10 No.2

        The genetics of the prion protein gene (PRNP) play a crucial role in determining the relative susceptibility to transmissible spongiform encephalopathies (TSEs) in several mammalian species. To determine the PRNP gene variability in European red deer (Cervus elaphus), roe deer (Capreolus capreolus) and chamois (Rupicapra rupicapra), the PRNP open reading frame from 715 samples was analysed to reveal a total of ten single nucleotide polymorphisms (SNPs). In red deer, SNPs were found in codons 15, 21, 59, 78, 79, 98, 136, 168 and 226. These polymorphisms give rise to 12 haplotypes, and one of which is identical to the PRNP of American wapiti (Rocky Mountain elk, Cervus elaphus nelsoni). One silent mutation at codon 119 was detected in chamois and no SNPs were found in roe deer. This analysis confirmed that European wild ruminants have a PRNP genetic background that is compatible with TSE susceptibility, including chronic wasting disease.

      • RETAIL STORES OPENINGS AND CUSTOMER EXPERIENCE IN INTERNATIONAL MARKETS. THE CASE OF ITALIAN LUXURY MANUFACTURING COMPANIES

        Simone Guercini,Andrea Runfola 글로벌지식마케팅경영학회 2015 Global Fashion Management Conference Vol.2015 No.06

        Introduction This article analyzes retail store openings of luxury fashion brands in international markets. Our aim is to point out the relevance of this market entry strategy as well as to highlight the main destination markets and different trends over the 2004-2013 period. More precisely, this article analyzes the role of the retail direct channel as a means to manage relationships with consumers in international markets. The choice to develop retail operations in international markets is considered in this article as one of the key strategies implemented by luxury manufacturing companies. However, it seems to have received minor attention in the academic literature dealing with internationalization (Guercini and Runfola, 2014). Consequently, the main aim of this article is to propose empirical evidence to support the widespread use of this strategy by luxury firms, proposing the analysis of an original database built on the retail store operations of a sample of Italian fashion luxury companies over the period 2004-2013. The retail marketing strategy is a peculiar strategy within the luxury marketing strategies. As stated by Kapferer and Bastien (2012), in fact, through retail store openings (and distribution in general), luxury companies may implement and take advantage from what has been defined by the authors the “watchword of luxury brand management” (p. 233) namely “experience”. In fact, the literature in the field of luxury retailing has pointed out the role of the point of sale from a consumer point of view to experience the value of a company. The discussion on the consumer perspective is increasing in the literature as testified by various contributions aimed at analyzing and discussing how and what kind of experiences could be transferred by the opening of retail stores and in what terms the luxury retail strategy differs from other retail marketing strategies (Dion and Arnould, 2011). The opening of retail stores from luxury companies has been considered within the stream of research on the internationalization of the company. It has been pointed out that companies with luxury positioning can differentiate their offering with respect to mass market retailers and open retail stores even in culturally distant markets (Hutchinson et al. 2009). These openings, however, are considered more as ways of promoting the brand, rather than a structural international retail development (Moore et al., 2010). In fact, it has been noticed that luxury griffes open retail stores quite exclusively in primary locations (Hutchinson et al. 2009) and that most of the internationalization literature on retail stores openings by luxury firms is referred to the opening of flagship stores (Moore et al., 2010), a specific retail store format that from its nature, is mostly related to brand promotion than to an effective and stable retail development. In fact, retailing as international market entry strategy implies significant investment both in economic and cognitive terms (Mattila el al., 2002; Guercini and Runfola, 2010). The study of retail stores opening as an entry strategy in international markets remains an understudied field of study in the academic literature, as evidenced for example by Ilonen et al. (2011) in their study on the importance of branded retail in manufacturers' international strategy. Moreover, the authors point out that among other things, this remains a topic of interest but not yet analyzed in the case of the fashion industry. Following this reasoning, our article aims to answer to the subsequent research questions: RQ1 - What is the evolution over time of the distribution investments of luxury fashion manufacturing companies? RQ2 - Is there a difference between emerging markets and advanced markets for luxury retail store openings? RQ3 - What is the role of metropolitan areas and how does this evolve over time? Methodology and discussion We investigate these research questions in the case of Italian luxury manufacturing companies. In order to study the expansion of Italian luxury companies, we have exploited the information contained in the database that we have created expressly for the purposes of this research. The database has been compiled by examining any news contained in two specialized and highly recognized national fashion-sector publications - Fashion and Pambianco Week - regarding the opening of retail outlets in foreign countries by Italian luxury firms in the decade 2004-2013. For the purpose of this research we have considered as luxury brands those brands that are members of Altagamma, a association whose members are Italian companies that operate at the highest end of the market, and those brands that are recognized globally and by academics and empirical press as luxury brands, although not being members of Altagamma. The above process has identified 594 sales points opened by 39 Italian brands in 62 countries over the period 2004-2013. The top 10 brands for number of store openings over this period are the followings: Prada (64), Salvatore Ferragamo (59), Miu Miu (51), Ermenegildo Zegna (31), Valentino (29), Armani (26), Versace (26), Gianfranco Ferrè (25), Brioni (22), Etro (22). Hereafter we try to describe some preliminary findings regarding the three research questions advanced previously. RQ1 – What is the evolution over time of the distribution investments of luxury fashion manufacturing companies? Our analysis seems to show an evolution in this growth strategy over the period 2004-2013. In fact, if during the period 2004-2008 our analysis shows the opening of 261 single-brand outlets by the enterprises of our sample, during the period 2009-2013 the number of operations became 333 stores. This seems to highlight how, even in a period of international crisis, the retail strategy for luxury companies remained fundamental for growing abroad. The year 2008 is the year with the maximum number of stores opened by our companies (95 stores, roughly 16% of the total 594 stores opened), while the year 2004 is the one with the minimum number of stores opened, only 35 stores (roughly 6%). Moreover, each year from 2009-2011 accounts for over 70 stores. RQ2- Is there a difference between emerging markets and advanced markets for luxury retail store openings? In order to distinguish between “mature”, developed countries and “emerging” ones, we considered the first 24 countries that joined firstly the OCSE as “mature”, while all the remaining countries have been considered “emerging”. Our analysis reveals during the period analyzed a growing incidence by emerging markets compared to mature markets, given that emerging markets account for 60.9% of the openings. Moreover, in each year analyzed emerging markets overcome advanced markets for number of stores opened. However, traditional mature markets for Italian luxury (such as USA or Japan) as well as new emerging markets (such as China and Russia) are within the top destinations all over the period. If we consider only the first three markets for number of retail operations we may note some differences between the two sub-periods. In fact, during the period 2004-2008 the first three markets listed for decreasing number of operations were the USA (45 retail stores opened, 17,2% of the total number of stores), China (29 stores, 11,1% of the total) and India (19 stores, 7,3% of the total). During the period 2009-2013, China increased the number of operations, becoming the leading market with 74 stores, representing 22,2% over the total, followed by the USA (46 stores, 13,2% of the total) and United Arab Emirates (15 stores, 4,5%). The rising of China in the second period, is associated with an increasing importance of other emerging markets such as Brazil and South Korea, that in the previous period were not within the top international destinations. We should however stress that other mature markets, such as France and Japan still have key roles for Italian luxury companies. RQ3 – What is the role of metropolitan areas and how does this evolve over time? Our analysis shows that the major cities world-wide are present in our database. In total the companies in our sample have opened stores in 163 cities. Over the period 2004-2013 the top 10 cities listed for decreasing number of stores are the following: Shanghai (30), Hong Kong (28), New York (25), Moscow (24), Tokyo (22), Paris (21), Dubai (20), London (20), Los Angeles (20), Beijing (20). However, as evidenced by the data, while in the period 2004-2008, the total number of cities targeted by the companies were 83, in the following period 2009-2013 the number cities targeted became 127. This data seems to highlight how, over time, the presence of luxury firms is not only concentrated in the top cities around the world neither only in luxury streets, but affects a larger number of cities and locations. Take for example the case of the new rising Chinese cities of the II, III and IV tiers. To conclude, our research points out how retail strategy implemented by luxury manufacturing companies is one of the driving strategy for relating the company with consumers in international markets. This strategy seems to represent a relevant and widespread used strategy to enter in foreign market and to develop the brand further. Some considerations are due on the limitations inherent in the present study, which can also furnish some useful indications as to future work. The empirical evidence reported here is based on secondary research in market publications. Aside from collecting further, more up-to-date information, future research should be addressed to performing a number of enterprise case studies in order to acquire a better understanding of the phenomena at play through contacts with luxury enterprise managers with whom to share the main aspects involved in establishing sales networks in foreign countries. Moreover, the considerations advanced are based on empirical evidence drawn solely from study of the Italian luxury fashion industry. In this sense, future research should aim to check if any differences exist in retail store openings between the Italian fashion system and the luxury fashion industries of other economically mature nations (e.g., France, the UK, Japan or the USA). Although, our empirical analysis has some limitations, it seems to confirm that the retail market strategy is a key strategy to relate with consumers in international markets and to let them “experience” the brand. For manufacturing companies in the luxury field this strategy should not be considered only in terms of promotion, as typically associated with the opening of flagship stores abroad. Rather, it represents an effective retail strategy with important implications from a managerial point of view. Considering this latter point, future research should be directed towards the study of the different strategic behaviors aiming at pointing out different strategic groups within our companies, for example in terms of company size or destination markets. In general terms, future research should be directed towards the study of the link between retail stores openings and customer experience in international markets. This issue has a particular relevance in the case of the Italian fashion industry, where understanding the retail strategy of luxury companies may contribute to recognize potential bandwagon effects of other companies in this sector, such as small and medium sized companies with other positioning.

      • KCI등재

        A bounded Kohn Nirenberg domain

        Simone Calamai 대한수학회 2014 대한수학회보 Vol.51 No.5

        Building on the famous domain of Kohn and Nirenberg we give an example of a domain which shares the important features of the Kohn Nirenberg domain, but which can also be shown to be ø-bounded. As an application, we remark that this example has compact automor- phism group.

      • Creation of Fashion Trends and Role of the Bureau de Style for Textile Innovation

        ( Simone Guercini ),( Silvia Ranfagni ) 한국마케팅과학회 2012 Journal of Global Fashion Marketing Vol.3 No.1

        The aim of this paper is to examine the bureaux de style as producers of fashion trends and their interactions with textile firms in order to analyze their contribution in terms of knowledge and of competence to textile innovation processes. The business relationships for innovation has considerable current importance in the textile sector. Although this industry is considered mature, product innovation, based on the generation and exploitation of fashion trends, represents a fundamental strategic option to face the increasingly competitive pressure. From a theoretical point of view, the achievement of our research goals has led us to analyze the scientific paradigms of knowledge generation and of cognitive networks as conceptual frameworks. As to knowledge generation we focus on constructivism, which considers the creation of knowledge as a generative act (Weick, 1995; Starbuck and Milliken 1988; Westley 1990; Louis, 1980; Griffith 1999; Drazin et al. 1999). In other words knowledge is not just a revelation of an objectively given situation; its generation means creating a reality and actively influencing the surrounding circumstances, which it contributes to shaping (Von Glasersfeld, 1981). According to this approach the process of knowledge generation can be subdivided into the three specific stages: a) activation of the environment; b) selection of environment on the basis of the search for causal linkages; and c) retention of the constructed environment. Portions of potential knowledge are identified in the environment that can take form and be built as a subjective act. The constructivist approach is opposed to the cognitive approach , which considers knowledge as a representation of a world, outside the subject; this is because the object of thought processes is consists of symbols and situations which are structured by encoding and elaborating information. In connection with the cognitive network (Schwenk, 1988; Lektorskii, 2010), we introduce the concept of relations as way of sharing and exploiting knowledge to generate product innovation. In particular relations among firms can favor the exchange and sharing of cognitive resources, producing a co-evolution of their own learning processes and product innovations. Studies in management literature analyze the cognitive contribution to innovation deriving from subjects (customers, distributors, suppliers) belonging to the same inter- organizational network (Cooper and Kleinschmidt 1987; Von Hippel, 1988, 2011; Jones and Ritz 1991; Rangan, Melvyn and Mayer 1992; Clark and Fujimoto 1991; Leonard-Barton, 1995). Other studies highlight how the development of innovation also implies an analysis of the sources of knowledge internal to the firm. A firm in order to produce innovation, has to assimilate the external stock of knowledge and combine it with its competence, thereby producing new knowledge (Mahajan and Wind, 1992; Workman, 1993; Griffin and Hauser, 1994; Pisano, 1994; Bruce and Morris, 1995; Davies-Cooper and Jones, 1995; Williams and Smith, 1990; Axelsson and Hakansson, 1990). In this perspective, the process of new product development is encouraged by the integration of knowledge between an inter-enterprise network and an intra- enterprise network, which can considered in the various functions of the firm (marketing, research and development, production, purchasing). Resting on these theoretical frameworks, our empirical analysis focuses on the processes of knowledge generation produced by the bureaux de style. In particular we examine a) how the bureaux de style produce knowledge to generate fashion trends; b) the interactions between bureaux de style and textile firms in the sharing and production of fashion trends; and c) the contribution of these interactions to textile product innovation. In a relational perspective the bureaux de style constitute part of the cognitive network for innovation in textile firms; they produce creative knowledge that can influence the realization of seasonal collections. Our study is both exploratory and original: in the management literature in fact, specific studies on the bureaux de style and their role in the fashion sector have not yet been carried out. Our work is based not only on the study of the literature and an analysis of the results of research on this topic, but also on primary sources consisting of information gathered through interviews with four important bureaux de style in France and Italy, which, in the opinion of Italian textile manufacturers` associations, are considered to play a major role in trend generation.

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      • MATCHING BUSINESS MODELS THROUGH ADAPTATION IN BUSINESS RELATIONSHIPS: HOW DO SUPPLIERS COPE WITH FAST FASHION?

        Simone Guercini,Andrea Runfola 글로벌지식마케팅경영학회 2018 Global Marketing Conference Vol.2018 No.07

        This paper investigates the adaptation of suppliers’ business models to the changing customers relationships, with a focus on the fashion industry. The analysis of business models represents an understudied topic in business to business marketing research (Ehret, Kashyap and Wirtz, 2013; La Rocca and Snehota, 2017). In this regard, the paper tries to propose an original contribution by addressing the issue of how suppliers adapt their business models to cope with the needs of their fast fashion customers. It is well known that the fast fashion formula has represented an innovative business model which has generated huge changes within the fashion industry (Barnes and Lea-Greenwood, 2006). While, the business models of global brands, such as those of Zara or H&M, have been deeply studied, minor attention has been given to the business models of the suppliers that interact with this kind of players. Consequently, the paper addresses a research gap that regards the suppliers' business model changes due to the interaction with fast fashion clients. The paper has an exploratory nature. Methodologically, it proposes two qualitative case studies of suppliers in interaction with fast fashion suppliers, pointing out the main features of the adaptation of their business models in the relationship with these clients. The paper contributes to theory and managerial practice pointing out some drivers of change for suppliers with respect to the most evident characteristics of the business model of the buyers. It describes these drivers and proposes some relevant evidences to support the study of business models in business markets.

      • KCI등재

        Organizing Healthcare for Optimal Acute Ischemic Stroke Treatment

        Simone Vidale,Elio Clemente Agostoni 대한신경과학회 2020 Journal of Clinical Neurology Vol.16 No.2

        Stroke is a major health-care problem that represents a leading cause of death and also the top cause of disability in adulthood. In recent years there has been a significant paradigm shift in treatments for acute ischemic stroke to favor earlier reperfusion therapy, mainly using the systemic infusion of recombinant tissue plasminogen activator. Subsequent trials found that combining this treatment with endovascular therapy was effective in selected patients. The increased complexity of acute stroke treatments has resulted in a substantial reorganization of stroke care. This review reports on the evolution of acute ischemic stroke treatment and describes the main organizational models based on the hub-and-spoke system. The lack of evidence for comparisons of the effectiveness of different paradigms means that some decision-analysis models predicting the best organizational pathways are also reported, with a particular emphasis on the workflow timing in the prehospital and in-hospital settings. Major benchmarks and performance measures are also reported, focusing on the timing of interventions and rates of process indicators. Finally, future directions are illustrated, including using telemedicine for stroke, mobile stroke units, and artificial intelligence and automated machines to produce software for detecting large-vessel occlusion.

      • ADOPTION AND SCOPE OF HEURISTICS IN FASHION BUSINESS TO BUSINESS MARKETING: AN EXPORATIVE CASE RESEARCH

        Simone Guercini 글로벌지식마케팅경영학회 2017 Global Fashion Management Conference Vol.2017 No.07

        This contribution focuses on fitting between heuristic rules and the task environment in business to business market. The subject is about evidence-based business decision-making process in the business actors‟ perspective. The empirical setting of fashion business to business markets is considered, focusing on adaptive behavior situated in the interaction processes in customer-supplier relationships emerging from empirical researches. The paper considers two key aspects of the process: (1) the origin and diffusion of the heuristic rules adopted by the actors (adoption) and (2) the fields in which the rules can be used (scope) are discussed. The central research questions are: How heuristics are adopted and diffused in the fashion business to business environment (adoption)? How wide is the context in which the heuristic rule is applied by the actors (scope)? Fashion business to business markets is our setting of analysis. First of all we have to define what are heuristics. Studies of decision-making processes generally divide them into two, mutually exclusive types: rational decision making versus rule-based decision making (March 1994). In the case of rational decision making the approach is to evaluate the consequences of any decision in terms of either pure (maximizing) or limited rationality (satisficing). In rational decision making, consequential choices are adopted, hence an evaluation of preferences and expectations is necessary and decisive to the final outcome. Instead, in rule-based decision making, what counts most is following the rules, the aim being to satisfy and/or define an identity. In rule-based decision making, rules deemed appropriate are adopted, and what then counts are the rules and the identity, which form the basis for taking well-thought-out actions. Rationality requires less „specific‟ knowledge, since it relies on abstract rules. In this approach, following the rules may instead involve understanding them in relation to the specific context in which they are to be applied. The relations between heuristics and interaction in business networks provide a means to study other aspects of the evolution of the relationship between enterprise and business market environment (Artinger et al. 2015; Guercini et al. 2014, 2015). In fact, the network of relationships the actors adopt images of the relationships to be cultivated with the precise aim of formulating an effective representation of the market, enable other phenomena to be examined, not so much in their qualitative aspects, but rather as regards their importance as perceived by business decision-makers. In light of these relations between heuristics and setting, the essential properties of heuristics that we propose to examine herein are: (1) specificity, intended as the field of application and setting in which any heuristic rule is generated and routinely applied; (2) convergence, which concerns how widespread, at least in appearance, any given heuristic rule is amongst actors in a given market setting (Guercini 2012). In other terms, the heuristics of entrepreneurial marketing can be considered specific to this particular setting, in that they concern the degrees to which such rules are generated, are successful, and are confined to the specific setting or context. Looking more closely at the two above-mentioned properties, specificity is high when, for instance, a heuristic refers to a specific, circumscribed matter (for example assessing the opportune moment to purchase certain semi-finished goods) and finds no application in any other setting. Conversely, a rule‟s degree of specificity is low when its field of application is broad: a rule may, since its inception, be applicable to many different fields, or it may be initially applicable only to a limited range of decisions, but subsequently find fruitful application in other, broader matters (Guercini et al. 2014). The degree of convergence instead regards the frequency with which a given heuristic rule is adopted within a population, a community or, in our case, by entrepreneurs. Such adoption may only be apparent, in the sense that what seems to be a single rule may actually represent various, subtly different rules for each individual, given the supremely personal, individual nature of fine mental processes. Evaluating the degree of convergence of a given heuristic within a population obviously involves measuring its dissemination in terms that are recognized as such by the researcher. Convergence is high for rules adopted by everyone, or at least by a large segment of the population in question. Other heuristic rules are instead developed by individuals in forming their personal judgments and seem to be unique to such individuals, in that they do not arise in others. This implies that heuristic rules may be the source of a relative advantage for the entrepreneur, in so far as the heuristic in question proves itself successful, that is, an element that determines a good choice when other methods are ineffective or may even produce negative effects. Specificity and convergence are thus general properties of the heuristics adopted by entrepreneurial marketers, and are strongly tied to the interpersonal relationships and consequent interactions within business decision-makers‟ personal contact networks (Guercini et al. 2015). Heuristic procedures are easily detectable in the descriptions of enterprise top management of the processes they utilize in assessing possibilities and forming judgments. Some of these procedures are highly abstract and applicable to various different settings, for instance, regarding problems typically facing firms as well as purchase decision-makers. In the following we shall briefly present some of the heuristics encountered in our research; a more detailed description and more rigorous modeling of their characteristics will be addressed in future work. Let us consider now a fashion business to business settings, and more precisely the situation in which the decision-maker of a fashion firm is tasked with formulating a judgment regarding the best choice of colors to keep up with the fashion trends of coming seasons. From interviews with representatives of styling divisions, what repeatedly emerged was their conviction that “strong” colors periodically and forcefully come back in fashion. Some even went so far as to specify the duration of this cycle: seven years – that is, the same as the number of strong colors –, which also turns out to be coherent with long-standing observations on the limits of human cognitive function (Miller 1956). No clearly defined explanation was offered of the reasons for, or origins of, this rule, although some hypotheses were advanced: simply that a sort of “law” was first noticed and then became consolidated as its predictions were repeatedly verified over time. A second example is that of the textile firm entrepreneurial marketer called on to provide a forecast of the fabrics that will be most widely utilized in the market over the next few seasons. From the marketer‟s perspective, the price of natural fibers is one element on which to base any judgment regarding future fabric usage trends. Clearly, there are technical time constraints on the purchasing of fibers for spinning, which must naturally precede the sale of the fabric, and may even take place already in the stage of drafting the fabric sample book. Thus, a specific assessment rule is applied: those fibers whose price increases during certain periods of the year are deemed to be those that will be in most widespread use the following season. However, for some years now this rule has begun to seem less reliable than in the past. Workers in the sector speak of greater complexity in the wool market, where supply factors, such as international manufacturers‟ policy of stepping up fiber tops production, have had the effect of upsetting traditional market dynamics. The heuristic rules in these examples can be regarded in the perspective of the attributes they present, in particular, their “specificity” (or field of application) and their “convergence” (or degree of dissemination). A rule that is highly specific to a certain application setting looses much of its value when applied to judgments other than the one for which it has been developed. On the other hand, a rule that is in widespread use in many firms can hardly become a distinctive resource for entrepreneurial marketers. The widespread dissemination of a given heuristic rule amongst the rules “in stock” or the “adaptive toolbox” of firms may influence its effectiveness. Indeed, the fact that a rule is shared by many may justify its adoption in light of the validity that the decision-makers seem to attribute it, even if it is less probable that its use impart a distinctive competitive advantage. The examples of heuristic processes presented in the foregoing seem to enjoy different degrees of specificity and convergence. The association of certain heuristics to specific settings takes on the significance attributed to them by Simon (1979), as rules bound by the task environment and not clearly referable to relatively abstract mechanisms or endowed with autonomy. Mechanisms applicable to less specific settings are instead referable to the heuristics described by Tversky and Kahneman (1974), including representativeness, availability and adjustment/anchoring, identified in relation to the possible distortions and errors associated to them. The heuristics modeled by “building blocks” by Gigerenzer et al. are seemingly cannot be captured by a few categories, given the variety of formal models identified. Briefly, these include (1) recognition heuristic; (2) fluency heuristic; (3) take-the-best; (4) tallying; (5) satisficing; (6) 1/N equality heuristic; (7) default heuristic; (8) tit-for-tat; (9) imitate the majority; (10) imitate the successful; (11) hiatus heuristic; (12) fast and frugal trees; (13) mapping models; (14) averaging the judgment; (15) social circle; (16) moral behavior (Gigerenzer and Gaissmaier 2011, Gigerenzer and Brighton 2009). In the approach proposed by Gigerenzer and his “adaptive behavior and cognition program”, formal models are necessary to evaluate the real contribution of heuristics to cognition, decision-making and behavior. For details, refer to the publications of the adaptive-behavior-and-cognition program (Gigerenzer 2007; Todd and Gigerenzer 2012). Rule-based decision making implies the availability of rules to follow and consistency with an established identity as the driving factors in the decisionmaking process. If the rules satisfy an ecological rationality approach, are such rules then the result of a process of rules selection with which the decision makers are endowed innately or they are formed through a process of learning? And, if the latter is true, what are the characteristics of the decision-making process during the stage that the rules formation schemes are more open? And lastly, when the rules have already been defined, are they necessarily stable or can they be questioned and, if so, in what terms? These research questions are part of the future research stimulated by this first exploration based on case study research.

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