Waning vigilance and the disposition effect: Evidence from Thailand on individual investor decision making

We argue that existing explanations for the stock-market investor's disposition to “ride losers too long” are unsatisfactory because they abstract from any role for information processing. We propose instead that the disposition effect is a special case of “waning vigilance:” investors pay less attention to new information and analysis when making decisions about loss makers and are therefore slower to sell them when arguments in favor of holding cease to be valid. Results from a Thai individual investor survey are presented as empirical evidence in support of the hypothesis that vigilance is reduced following losses.     

Predicting Developmental Change in Healthy Eating and Regular Exercise Among Adolescents in China and the United States: The Role of Psychosocial and Behavioral Protection and Risk

This article reports a cross‐national study of developmental change in health‐enhancing behavior—healthy eating and regular exercise—among adolescents in China and the United States. The application of a conceptual framework comprising psychosocial and behavioral protective and risk factors—both proximal and distal and at both the individual and social contextual level—is shown to provide a substantial account of variation in change in those behaviors over a 2‐year interval. The explanatory account has generality across gender, the 3 grade cohorts, and most importantly, across the 2 markedly diverse societies.     

Respondent-Driven Sampling: An Assessment of Current Methodology

Respondent-Driven Sampling (RDS) employs a variant of a link-tracing network sampling strategy to collect data from hard-to-reach populations. By tracing the links in the underlying social network, the process exploits the social structure to expand the sample and reduce its dependence on the initial (convenience) sample.The current estimators of population averages make strong assumptions in order to treat the data as a probability sample. We evaluate three critical sensitivities of the estimators: to bias induced by the initial sample, to uncontrollable features of respondent behavior, and to the without-replacement structure of sampling.Our analysis indicates: (1) that the convenience sample of seeds can induce bias, and the number of sample waves typically used in RDS is likely insufficient for the type of nodal mixing required to obtain the reputed asymptotic unbiasedness; (2) that preferential referral behavior by respondents leads to bias; (3) that when a substantial fraction of the target population is sampled the current estimators can have substantial bias.This paper sounds a cautionary note for the users of RDS. While current RDS methodology is powerful and clever, the favorable statistical properties claimed for the current estimates are shown to be heavily dependent on often unrealistic assumptions. We recommend ways to improve the methodology.     

Realism and Contingency

This paper constitutes an extended response to Athanasia Chalari's paper The Causal Impact of Resistance, which suggests that one may derive from internal conversations a causal explanation of resistance. In the context of our engagements with critical realism and digital research into social movements, we review Chalari's main argument, before applying it to a concrete case: the student protests in London, 2010. Whilst our account is sympathetic to Chalari's focus on interiority, we critique the individualism that is implicit in her argument, arguing that it emerges because of an underlying neglect of the relational aspects of resistance. Instead, we offer a relational realist analysis that treats resistance as process within an ontologically stratified account of reality that is mindful of the contingency of political acts. Taking this route, we establish resistance as an emergent relation, generative of distinctive “relational goods” in the context of collective action, which we locate at different levels of reality, as we move from an analysis of individual to collective reflexivity. In doing so we offer a sympathetic critique of Chalari, building on the thought provoking arguments contained within it, whilst also making a contribution to the theorisation of social movements and the “relational turn” within realist social theory (Archer, 2010, 2012).     

Where Publics May Touch

ABSTRACT

In response to the unique sensory modes of blind and partially sighted communities, tactile and multisensory tours and exhibition components of museum collections are gradually becoming more common in North America and Europe. Such initiatives are often intended to give equal forms of access for diverse participating publics. This article provides an auto-ethnographic report on the tactile tours offered by The National Gallery of Canada (Ottawa) program “Stimulating the Senses,” and gives context for sensorial models at play in Western museums today. Museum strategies that encourage intersensorial awareness and access are also discussed. Attention is given to the performative properties of these tours, and the variety of encounter they encourage between publics. This article also includes accounts of the program by its supervisor and coordinator, as well as from a participant. Key questions this article explores are: do such tours in fact give equal access; what motivates the development of such programs in Canadian institutions; and what outcomes are realized through these programs?     

Organizational Silence and Whistle‐Blowing on IT Projects: An Integrated Model*

An individual's reluctance to report bad news about a troubled information technology (IT) project has been suggested as an important contributor to project failure and has been linked to IT project escalation as well. To date, information systems researchers have drawn from the mum effect and whistle‐blowing literature to gain a better understanding of the factors that influence bad news reporting. More recent theoretical work in the area of organizational silence offers a promising new conceptual lens, but remains empirically untested. In this research note, we integrate key elements of Morrison and Milliken's (2000) model of organizational silence, which has never been empirically tested, with the basic whistle‐blowing model adapted from Dozier and Miceli (1985) . Using a role‐playing experiment, we investigate how organizational structures/policies, managerial practices, and degree of demographic dissimilarity between employees and top managers create a climate of silence and how this climate, in turn, affects an individual's willingness to report. Our results show that all three types of factors contribute to a climate of silence, exerting both direct and indirect influence on willingness to report, as hypothesized. The implications of these findings and directions for future research are discussed.     

Educational Attainment and Adult Mortality in the United States: A Systematic Analysis of Functional Form

A vast literature has documented the inverse association between educational attainment and U.S. adult mortality risk but given little attention to identifying the optimal functional form of the association. A theoretical explanation of the association hinges on our ability to describe it empirically. Using the 1979–1998 National Longitudinal Mortality Study for non-Hispanic white and black adults aged 25–100 years during the mortality follow-up period (N = 1,008,215), we evaluated 13 functional forms across race-gender-age subgroups to determine which form(s) best captured the association. Results revealed that the preferred functional form includes a linear decline in mortality risk from 0 to 11 years of education, followed by a step-change reduction in mortality risk upon attainment of a high school diploma, at which point mortality risk resumes a linear decline but with a steeper slope than that prior to a high school diploma. The findings provide important clues for theoretical development of explanatory mechanisms: an explanation for the selected functional form may require integrating a credentialist perspective to explain the step-change reduction in mortality risk upon attainment of a high school diploma, with a human capital perspective to explain the linear declines before and after a high school diploma.