The Social-Economic-Psychological model of technology adoption and usage: An application to online investing

Decision Support Systems

Volumn 39, Issue 3, 2005, Pages 505-524

  Konana, Prabhudev ^a   Balasubramanian, Sridhar ^b  

^a UNIVERSITY OF TEXAS AT AUSTIN   (United States)

^b UNIVERSITY OF NORTH CAROLINA   (United States)

Author keywords

Diffusion of innovation; Electronic markets; Social economic psychological model; Technology adoption

Indexed keywords

DECISION MAKING; ECONOMIC AND SOCIAL EFFECTS; ELECTRONIC COMMERCE; INVESTMENTS; MARKETING; MATHEMATICAL MODELS; ONLINE SYSTEMS; PROFESSIONAL ASPECTS;

ELECTRONIC MARKETS; SERVICE BROKERS; SOCIAL-ECONOMIC-PSYCHOLOGICAL MODEL; TECHNOLOGY ADOPTION;

INFORMATION TECHNOLOGY;

EID: 9744249712     PISSN: 01679236     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.dss.2003.12.003     Document Type: Article

References (92)

1. E. Abrahamson, L. Rosenkopf, Institutional and competitive bandwagons: using mathematical modeling as a tool to explore innovation diffusion, Academy of Management Review 18 (3) (1993) 487-517.
2. I. Ajzen, From intentions to actions: a theory of planned behavior, in: J. Kuhl, J. Beckmann (Eds.), Action Control: From Cognition to Behavior, Springer-Verlag, New York, 1985, pp. 11-39.
3. M. Alpert, H. Raiffa, A progress report on the training of probability assessors, in: D. Kahneman, P. Slovic, A. Tversky (Eds.), Judgment Under Uncertainty: Heuristics and Biases, Cambridge Univ. Press, Cambridge, UK, 1982, pp. 294-305.
4. S. Balasubramanian, P. Konana, N. Menon, Customer satisfaction in virtual environments: a study of online investing, Management Science 49 (7) (2003) 871-889.
5. A.V. Banerjee, A simple model of herd behavior, Quarterly Journal of Economics 107 (3) (1992) 797-817.
6. B.M. Barber, T. Odean, The internet and the investor, Journal of Economic Perspectives 15 (1) (2001) 41-54.
7. B.M. Barber, T. Odean, Boys will be boys: gender, overconfidence, and common stock investment, Quarterly Journal of Economics 116 (1) (2001) 261-292.
8. B.M. Barber, T. Odean, Online investors: do the slow die first? Review of Financial Studies 15 (2) (2002) 455-487.
9. A. Barua, P. Konana, A.B. Whinston, F. Yin, Driving E-business excellence, Sloan Management Review 43 (1) (2001) 36-44.
10. A.O. Baumann, R.B. Deber, G.G. Thompson, Overconfidence among physicians and nurses: the "mirco-certainty, macro-uncertainty" phenomenon, Social Science & Medicine 32 (2) (1991) 167-174.
11. M. Bazerman, R. Beekun, D. Schoolman, Performance evaluation in a dynamic context: a laboratory study of the impact of a prior commitment to the ratee, Journal of Applied Psychology 67 (1982) 873-876.
12. B.D. Bernheim, A theory of conformity, The Journal of Political Economy 102 (5) (1994) 841-877.
13. S. Bikhchandani, D. Hirshleifer, I. Welch, A theory of fads, fashion, custom, and cultural change as informational cascades, The Journal of Political Economy 100 (5) (1992) 992-1026.
14. H.A. Bloch, The sociology of gambling, American Journal of Sociology 57 (3) (1951) 215-221.
15. S. Botti, Preference for control and its effect on evaluation of consumption experience, Working Paper, University of Chicago School of Business (2002).
16. G.C. Brunk, A test of the Friedman-Savage gambling model, Quarterly Journal of Economics 96 (2) (1981) 341-348.
17. J.M. Burger, Desire for control and achievement-related behaviors, Journal of Personality and Social Psychology 48 (6) (1985) 1520-1533.
18. J.M. Burger, Negative reactions to increases in perceived personal control, Journal of Personality and Social Psychology 56 (1989) 246-256.
19. J.J. Choi, D. Laibson, A. Metrick, How does the internet affect trading? Evidence from investor behavior in 401(k) plans, Journal of Financial Economics 64 (3) (2002) 397-421.
20. D.I. Cordova, M.R. Lepper, Intrinsic motivation and the process of learning: beneficial effects of contextualization, personalization, and choice, Journal of Educational Psychology 88 (4) (1996) 715-730.
21. D.W. Dahl, R.V. Manchanda, J.J. Argo, Embarrassment in consumer purchase: the roles of social presence and purchase familiarity, Journal of Consumer Research 28 (2001) 473-481.
22. F.D. Davis, Perceived usefulness, perceived ease of use, and user acceptance of information technology, MIS Quarterly 13 (3) (1989) 319-340.
23. W.F.M. DeBondt, R. Thaler, Does the stock market overreact? Journal of Finance 40 (1985) 793-805.
24. R. deCharms, Enhancing Motivation: Change in the Classroom, Irvington, New York, 1976.
25. E.L. Deci, Intrinsic Motivation, Plenum, New York, 1975.
26. E.L. Deci, R.M. Ryan, The support of autonomy and the control of behavior, Journal of Personality and Social Psychology 53 (1987) 1024-1037.
27. P. DiMaggio, W.W. Powell, The iron cage revisited: institutional isomorphism and collective rationality in organizational fields, American Sociological Review 48 (2) (1983) 147-160.
28. E. Fama, Market efficiency, long-term returns, and behavioral finance, Journal of Financial Economics 49 (3) (1998) 283-306.
29. F.D. Fincham, J.M. Jaspars, Attribution of responsibility: from man the scientist to man as lawyer, in: L. Berkowitz (Ed.), Advances in Experimental Social Psychology, vol. 13, Academic Press, New York, 1980, pp. 81-138.
30. B. Fischoff, P. Slovic, S. Lichtenstein, Knowing with certainty: the appropriateness of extreme confidence, Journal of Experimental Psychology. Human Perception and Performance 3 (1977) 552-564.
31. M. Fishbein, I. Azjen, Belief, Attitude, Intention and Behav ior: An Introduction to Theory and Research, Addison-Wesley, Reading, MA, 1975.
32. S.T. Fiske, S.E. Taylor, Social Cognition, McGraw-Hill, New York, 1991.
33. S. Folkman, Personal control and stress and coping processes: a theoretical analysis, Journal of Personality and Social Psychology 46 (1984) 839-852.
34. M. Friedman, L.J. Savage, The utility analysis of choices involving risk, Journal of Political Economy 56 (4) (1948) 279-304.
35. S. Gervais, T. Odean, Learning to be overconfident, Review of Financial Studies 14 (1) (2001) 1-27.
36. E. Goffinan, Embarrassment and social organization, American Journal of Sociology 62 (3) (1956) 264-271.
37. J.C. Handa, A theory of risk preference in gambling, Journal of Political Economy 79 (5) (1971) 1073-1083.
38. A. Hastorf, D.J. Schneider, J. Polefka, Person Perception, Addison-Wesley, Reading, MA, 1970.
39. F. Heider, The Psychology of Interpersonal Relations, Lawrence Erlbaum Associates, Hillsdale, NJ, 1958.
40. E.C. Hirschman, M.B. Holbrook, Hedonic consumption: emerging concepts, methods and propositions, Journal of Marketing 46 (1982) 92-101.
41. S.S. Iyengar, M.R. Lepper, Choice and its consequences: on the costs and benefits of self-determination, in: A. Tesser (Ed.), Self And Motivation: Emerging Psychological Perspectives, American Psychological Association, Washington DC, 2002, pp. 71-96.
42. D. Kahneman, D.T. Miller, Norm theory: comparing reality to its alternatives, Psychology Review 93 (1986) 136-153.
43. D. Kahneman, M.W. Riepe, Aspects of investor psychology, Journal of Portfolio Management 24 (4) (1998) 52-62.
44. D. Kahneman, A. Tversky, Prospect theory: an analysis of decision under risk, Econometrica 47 (1979) 263-292.
45. D. Kahneman, J.L. Knetsch, R. Thaler, Fairness as a constraint on profit seeking: entitlements in the market, American Economic Review 76 (4) (1986) 728-741.
46. E. Karni, Impartiality: definition and representation, Econometrica 66 (6) (1998) 1405-1415.
47. M. Keil, Pulling the plug: software project management and the problem of project escalation, MIS Quarterly 19 (4) (1995) 421-447.
48. M. Keil, B.C.Y. Tan, K. Wei, T. Saarinen, V. Tuinainen, A. Wassenaar, A cross-cultural study on escalation of commitment behavior in software projects, MIS Quarterly 24 (2) (2000) 299-325.
49. M. Keil, J. Mann, A. Rai, Why software projects escalate: an empirical analysis and test of four theoretical models, MIS Quarterly 24 (4) (2000) 631-664.
50. R. Kling, W. Scacchi, The web of computing: computer technology as social organization, Advances in Computers 21 (1982) 1-90.
51. P. Konana, N. Menon, S. Balasubramanian, Exploring the implications of online investing, Communications of the ACM 43 (1) (2000) 34-41.
52. E.J. Langer, The illusion of control, Journal of Personality and Social Psychology 32 (2) (1975) 311-328.
53. R. Larson, Is feeling 'in control' related to happiness in daily life? Psychological Reports 64 (1989) 775-784.
54. L. Lopes, Between hope and fear: the psychology of risk, Advances in Experimental Social Psychology 20 (1987) 255-295.
55. M.L. Marcus, D. Robey, Information technology and organizational change: causal structure in theory and research. Management Science 34 (5) (1988) 583-598.
56. R.C. Mayer, J.H. Davis, F.D. Schoorman, An integrative model of organizational trust, Academy of Management Review 20 (3) (1995) 709-734.
57. D.J. McAllister, Affect- and cognition-based trust as foundations for interpersonal cooperation in organizations, Academy of Management Journal 38 (1) (1995) 24-59.
58. D.H. McKnight, V. Choudhury, C. Kacmar, Developing and validating trust measures for e-commerce: an integrative typology, Information Systems Research 13 (3) (2002) 334-359.
59. M.G. Meloy, Mood driven distortion of product information, Journal of Consumer Research 27 (2000) 345-359.
60. A. Modigliani, Embarrassment, facework, and eye contact: testing a theory of embarrassment, Journal of Personality and Social Psychology 17 (1971) 15-24.
61. W.J. Orlikowski, C.S. Iacono, Research commentary: desperately seeking the "IT" in IT research - a call to theorizing the IT artifact, Information Systems Research 12 (2) (2001) 121-134.
62. F.L. Pryor, The Friedman-Savage utility function in cross-cultural perspective. Journal of Political Economy 64 (4) (1976) 821-833.
63. R. Raghunathan, K. Corfman, Is happiness shared doubled and sadness shared halved? Social Influence on enjoyment of pleasant and unpleasant experiences, Working Paper: Department of Marketing, University of Texas at Austin (2002).
64. R.H. Rao, B.D. Lynch, Hedonic price analysis of workstation attributes. Communications of the ACM 36 (12) (1993) 95-102.
65. E.M. Rogers, Diffusion of Innovations, 4th ed., The Free Press, New York, 1995.
66. K.S. Rook, Social support versus companionship: effects on life stress, loneliness, and evaluations by others, Journal of Personality and Social Psychology 52 (1987) 1132-1147.
67. M. Rubinstein, Rational markets: yes or no? The affirmative case. Financial Analysts Journal 57 (2001) 15-29.
68. T. Russell, R.H. Thaler, The relevance of quasi rationality in competitive markets, American Economic Review 75 (5) (1985) 1075-1082.
69. D.S. Scharfstein, J.C. Stein, Herd behavior and investment, The American Economic Review 80 (3) (1990) 465-479.
70. F.D. Schoorman, P.J. Holahan, Psychological antecedents of escalation behavior: effects of choice, responsibility, and decision consequences, Journal of Applied Psychology 81 (1996) 786-794.
71. S.P. Shapiro, The social control of impersonal trust, American Journal of Sociology 93 (3) (1987) 623-658.
72. K.G. Shaver, An Introduction to Attribution Processes, Winthrop, Cambridge, MA, 1975.
73. K.G. Shaver, The Attribution of Blame: Causality, Responsibility, and Blameworthiness, Springer, New York, 1985.
74. H. Shefrin, M. Statman, Behavioral capital asset pricing theory, Journal of Financial and Quantitative Analysis 29 (3) (1994) 323-349.
75. H. Shefrin, M. Statman, Behavioral portfolio theory, Journal of Financial and Quantitative Analysis 35 (2) (2000) 127-151.
76. H.M. Shefrin, R.H. Thaler, The behavioral life-cycle hypothesis, Economic Inquiry 26 (4) (1988) 609-643.
77. R.J. Shiller, Conversation, information, and herd behavior, The American Economic Review 85 (2) (1995) 181-185.
78. R.J. Shiller, Human behavior and the efficiency of financial markets, Handbook of Macroeconomics, vol. 1, 1999, pp. 1305-1340.
79. R.J. Shiller, Irrational Exuberance, Princeton Univ. Press, Princeton, NJ, 2000.
80. B.M. Staw, The escalation of commitment to a course of action, Academy of Management Review 6 (4) (1981) 577-587.
81. D.B. Suits, The elasticity of demand for gambling, Quarterly Journal of Economics 93 (1) (1979) 155-162.
82. S. Taylor, P.A. Todd, Understanding information technology usage: a test of competing models, Information Systems Research 6 (2) (1995) 144-176.
83. R.H. Thaler, Mental accounting and consumer choice, Marketing Science 4 (3) (1985) 199-214.
84. S.C. Thompson, Will it hurt less if I can control it? A complex answer to a simple question, Psychological Bulletin 90 (1) (1981) 89-101.
85. J. Tobin, The theory of portfolio selection, in: F.H. Hahn, F.P.R. Brechling (Eds.), The Theory of Interest Rates, MacMillan, London, 1965, pp. 3-51.
86. V. Venkatesh, Determinants of perceived ease of use: integrating control, intrinsic motivation, and emotion into the technology acceptance model, Information Systems Research 11 (4) (2000) 342-365.
87. V. Venkatesh, F.D. Davis, A model of the antecedents of perceived ease of use: development and test, Decision Sciences 27 (3) (1996) 451-481.
88. V. Venkatesh, F.D. Davis, A theoretical extension of the technology acceptance model: four longitudinal field studies, Management Science 46 (2) (2000) 186-204.
89. M.S. Weinberg, Embarrassment: its variable and invariable aspects, Social Forces 46 (1968) 382-388.
90. G.L. Wells, I. Gavanski, Mental simulation of causality, Journal of Personality and Social Psychology 56 (1989) 161-169.
91. F. Wu, V. Mahajan, S. Balasubramanian, An analysis of e-business adoption and its impact on business performance, Journal of the Academy of Marketing Science 31 (4) (2003) 425-447.
92. V.A. Zeithaml, A. Parasuraman, A. Malhotra, A conceptual framework for understanding e-service quality: implications for future research and managerial practice, Marketing Science Institute (Report No. 00-115).