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Food choice plays a vital role in people’s lives and well‐being, and this topic has received more research attention in recent years. The aims of the present research were to identify subgroups of participants who shared similar profiles of multiple motives for food choices, and examine differences across motive types on the well‐being of young and middle‐aged Chinese adults. Participants were 627 Chinese adults aged 18–58 years who completed questionnaire measures. The results of Latent Profile Analysis showed that based on the configurations among different motives for food choice, there were five profiles of food choice motives, corresponding to five types of Chinese adult consumers: unconcerned, mood oriented, weight control oriented, food enthusiast and health oriented. The food enthusiast consumers were more likely to include young adults with high‐income level and educational level, while the unconcerned consumers had a larger share of middle‐aged adults with low income. Results of ANOVA suggested that the types of food choice motives significantly predicted individuals’ well‐being. Specifically, the food enthusiast group had the highest level of well‐being, while the unconcerned group had the lowest level of well‐being. The other three groups had moderate levels of well‐being. The current study is the first to explore the potential influence of food choice motives on well‐being using a person‐centred approach, and the results have practical implications for public health authorities in developing effective interventions, for food companies in tailoring marketing campaigns and for individuals in optimizing food choices.

PurposeThe purpose of this study is to employ a user-centered approach to identify subgroups of people with similar profiles based on their perceptions of multiple dimensions of digital products' coolness and to test the differences across subgroups in the intention to use these products.Design/methodology/approachIn Study 1, 1,161 adults rated a virtual digital product on four dimensions of coolness. In Study 2, 660 college students made similar ratings and also reported their intention to use a real digital product. Participants' ratings were analyzed using a user-centered approach, namely latent profile analysis.FindingsStudy 1 identified groups of participants who had similar profiles of product ratings on the four dimensions of coolness: niche cool, mass cool, uncertain cool and uncool. Study 2 replicated the findings of Study 1 and in addition showed that these groups varied in their intention to use the product and in whether a specific dimension increased or decreased this intention.Research limitations/implicationsThe cross-sectional data preclude inferences about causality, calling for experimental or longitudinal research. Additionally, future research should explore whether the results generalize to other product categories and other age groups.Practical implicationsManagers should design digital products, segment the market and develop flexible strategies based on combined responses to dimensions of coolness perception.Originality/valueThe present research employed a user-centered approach to identify groups of people who share similar patterns of coolness perception. This study provides new insight that was not available in variable-centered research.

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We propose a model of asset management in which benchmarking arises endogenously, and analyze its unintended welfare consequences. Fund managers' portfolios are unobservable and they incur private costs in running them. Conditioning managers' compensation on a benchmark portfolio's performance partially protects them from risk, and thus boosts their incentives to invest in risky assets. In general equilibrium, these compensation contracts create an externality through their effect on asset prices. Benchmarking inflates asset prices and gives rise to crowded trades, thereby reducing the effectiveness of incentive contracts for others. Contracts chosen by fund investors diverge from socially optimal ones. A social planner, recognizing the crowding, opts for less benchmarking and less incentive provision. We also show that asset management costs are lower with socially optimal contracts, and the planner's benchmark-portfolio weights differ from the privately optimal ones.