Voice and Culture: A Prospect Theory Approach

Paddock, Elizabeth Layne; Ko, Jaewon; Cropanzano, Russell; Bagger, Jessica; Akremi, Assâad El; Camerman, Julie; Greguras, Gary J.; Mladinic, Antonio; Moliner, Carolina; Nam, Kidok; Törnblom, Kjell; Bos, Kees van den

doi:10.1002/bdm.1834

Cited by 6 publications

(6 citation statements)

References 45 publications

(85 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The justice evaluations across different reward levels show a negative effect of under-rewards (p < .001 for all under rewards), and a positive effect of over-rewards (when over-rewarded by 10% the difference is not significant (p = .106), when over-rewarded by 20% or 30%, p < .01) on justice evaluations. This result replicates prior research on asymmetries in justice evaluations, with under-reward being experienced more profoundly than over-reward [15, 28]. …”

Section: Resultssupporting

confidence: 86%

“…The results from the experiment show that unstable rewards are associated with lower justice evaluations, and that the presentation order of unstable rewards also matters; the primacy effect is more prominent than the recency effect (e.g. [28]). The results also demonstrate the asymmetric effects between under-rewards and over-rewards.…”

Section: Discussionmentioning

confidence: 99%

“…More recent empirical research supports the asymmetric effect of voice on perceptions of procedural justice. Based on prospect theory and theories of procedural justice, Paddock and colleagues [28] show that members’ voice in decision making has a positive effect on justice perceptions in nine different cultures. Importantly, they show that loss of voice has a greater negative effect than an equivalent gain.…”

Section: Reward Stability and Justice Evaluationsmentioning

confidence: 99%

See 2 more Smart Citations

The Effects of Stability and Presentation Order of Rewards on Justice Evaluations

Park

Melamed

2016

PLoS ONE

View full text Add to dashboard Cite

Justice research has evolved by elucidating the factors that affect justice evaluations, as well as their consequences. Unfortunately, few researchers have paid attention to the pattern of rewards over time as a predictor of justice evaluations. There are two main objectives of this research. First, it aims to test the effect of reward stability on justice evaluations. Based on justice theory and prospect theory, we assume that an under-reward at one time cannot be fully offset by an equivalent over-reward at another time. Therefore, in unstable reward systems the asymmetry of the effect of unjust rewards with opposite directions will produce a lower level of justice evaluations over time. The second objective of this research is to show the moderating effect of the presentation order (primacy vs. recency) of unstable rewards on justice evaluations. The results from a controlled experiment with five conditions, which presents the instability of rewards in different orders, confirm both the negative effect of unstable rewards and the stronger effect of primacy on justice evaluations.

show abstract

Section: Resultssupporting

confidence: 86%

Section: Discussionmentioning

confidence: 99%

Section: Reward Stability and Justice Evaluationsmentioning

confidence: 99%

See 1 more Smart Citation

The Effects of Stability and Presentation Order of Rewards on Justice Evaluations

Park

Melamed

2016

PLoS ONE

View full text Add to dashboard Cite

show abstract

“…Employees from high power distance cultures do not seem as troubled by an absence of voice when compared to employees from low power distance cultures. Research on the value function of voice extends this finding and expands our understanding of the role of culture in how voice is valued (e.g., Hunton, Hall, & Price, 1998; Paddock et al, in press; Price, Hall, Van den Bos, Hunton, Lovett, & Tippett, 2001). For instance, Price and colleagues found individuals expect greater amounts of voice (i.e., have higher reference points) in low power distance cultures (e.g., Great Britain, Netherlands) than individuals in high power distance cultures (e.g., Mexico), but the impact of that voice (the shape of the value function) does not change much by culture.…”

Section: Future Directions For Research On the Effects Of Voicementioning

confidence: 62%

When Voice Matters

Bashshur

2014

Journal of Management

272

105

View full text Add to dashboard Cite

The conventional wisdom is that voice leads to desirable outcomes for organizations. However, this is most certainly an oversimplification. Of the over 1,000 studies examining the impact of voice in organizations, the implications of voice vary by the level of the organization (individual, group, organization) as well as the outcome of interest (e.g., group harmony vs. job satisfaction). In this article, we draw from the diverse literatures examining the impact of voice to integrate the theoretical frameworks and empirical results for voice outcomes across organizational levels. To do so, we start with a discussion of the definition and development of voice as a construct, beginning with Hirschman's seminal work on voice/exit/loyalty. We then review the theoretical frameworks within each level that explain the effect of voice on outcomes, highlight the role of mediating or moderating mechanisms, and discuss directions for future research. Finally, we emphasize emerging trends in the study of voice and suggest areas in which the various literatures may benefit from borrowing across fields and levels of interest to produce a more comprehensive, theoretically grounded, and cohesive body of work.

show abstract

“…However, there is limited knowledge about the characteristics that impact financial (share price) predictions. Models such as prospect theory (Kahneman & Tversky, 1979) are frequently cited in behavioural finance (Barberis & Thaler, 2003;Camerer, Loewenstein, & Rabin, 2011;Dhami, 2016;Paddock et al, 2015). Herbert Simon's model of bounded rationality may be able to provide more understanding in the context of financial markets, for which incomplete information is inherent to the subject matter.…”

Section: Literature Reviewmentioning

confidence: 99%

“Deliberated Intuition” in Stock Price Forecasting

Endreß¹

2018

Economics &Amp; Sociology

View full text Add to dashboard Cite

Financial analysis is a topic of interest for both academic research and businesses. Financial analysts are important elements of economic interactions. Nevertheless, there are doubts about the quality of their predictions. Special crowdsourcing platforms facilitate group decisions as an alternative to traditional financial analysis. The objective of this paper is to investigate the quality of predictions by individuals and groups using this alternative approach. Various groups-consisting of laypeople but also financial professionals-were formed purposefully to generate equity forecasts. The data from the experiment suggest that some variables, in terms of participants' characteristics, have a significant impact on the quality of predictions. The results show that intuition plays an important role in the decision-making process. Also, good predictors base their intuition on several factors. The results led to an explanatory model, which we introduce as "deliberated intuition", a practice process being different for each individual. It appears that thinking about the problem in different ways and with various techniques contribute to making good predictions. The model may help in designing teams for traditional financial analysts.

show abstract

Voice and Culture: A Prospect Theory Approach

Cited by 6 publications

References 45 publications

The Effects of Stability and Presentation Order of Rewards on Justice Evaluations

The Effects of Stability and Presentation Order of Rewards on Justice Evaluations

When Voice Matters

“Deliberated Intuition” in Stock Price Forecasting

Contact Info

Product

Resources

About