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2 results

  • 4 - Basic Research on Purpose

  • Richard S. Marken, University of California, Los Angeles
  • Book:
    The Study of Living Control Systems
    Published online:
    02 February 2021
    Print publication:
    04 February 2021, pp 48-67

  • Summary

    Basic research on purpose is aimed at testing the PCT model of purposeful behavior. These tests are performed to validate detailed predictions about the relationships between the variables involved in purposeful behavior. The main focus of the research is testing for controlled variables using some version of the TCV. Laboratory tests for the controlled variable are typically conducted using versions of the compensatory tracking task, where all of the variables involved in the behavior can be readily identified and monitored. Other approaches to testing for controlled variables in the laboratory have used operant conditioning tasks which have been set up so that the system under study is capable of controlling the consequences of its actions. It is also possible to do basic research on purpose in more naturalistic settings outside the laboratory, which allows the study of more “realistic” behaviors.

  • Stakeholder Judgments of Value

  • Leena Lankoski, N. Craig Smith, Luk Van Wassenhove
  • Journal:
    Business Ethics Quarterly / Volume 26 / Issue 2 / April 2016
    Published online by Cambridge University Press:
    24 May 2016, pp. 227-256
    Print publication:
    April 2016

  • Although central to stakeholder theory, stakeholder value is surprisingly neglected in the literature. We draw upon prospect theory to show how stakeholder judgments of value depend crucially on the reference state, how there are several alternative reference states that may be operative when stakeholders judge value, how the choice of reference state for stakeholders’ value judgments can occur intuitively or deliberately, and how the level of the operant reference state may change with time and may also be incorrectly perceived by stakeholders or managers. Our theorizing results in a fundamentally different way of perceiving the value of corporate actions to stakeholders and shifts understanding of the avenues available for companies and others to influence stakeholder judgments of value. This novel perspective has implications both for theory and management practice, and not least for normative business ethics, if business is about stakeholder value creation.