• Title/Summary/Keyword: Continuous Beliefs System

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The extension of a continuous beliefs system and analyzing herd behavior in stock markets (연속신념시스템의 확장모형을 이용한 주식시장의 군집행동 분석)

  • Park, Beum-Jo
    • Economic Analysis
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    • v.17 no.2
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    • pp.27-55
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    • 2011
  • Although many theoretical studies have tried to explain the volatility in financial markets using models of herd behavior, there have been few empirical studies on dynamic herding due to the technical difficulty of detecting herd behavior with time-series data. Thus, this paper theoretically extends a continuous beliefs system belonging to an agent based economic model by introducing a term representing agents'mutual dependence into each agent's utility function and derives a SV(stochastic volatility)-type econometric model. From this model the time-varying herding parameters are efficiently estimated by a Markov chain Monte Carlo method. Using monthly data of KOSPI and DOW, this paper provides some empirical evidences for stronger herding in the Korean stock market than in the U.S. stock market, and further stronger herding after the global financial crisis than before it. More interesting finding is that time-varying herd behavior has weak autocorrelation and the global financial crisis may increase its volatility significantly.

Effects of Infection Control Training on Dental Hygienists' Health Beliefs and Practices of Infection Control

  • Moon, Sun-Jin;Lee, Kyeong-Jin;Han, Soo-Yeoun
    • Journal of dental hygiene science
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    • v.17 no.3
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    • pp.226-232
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    • 2017
  • This study aims to determine the changes in health beliefs and practices of dental hygienists on infection control after having received special training on that subject. The study population consisted of dental hygienists working at the dental institutions located in Seoul and Gyeonggi areas. The intervention group and the control group each had randomly assigned 26 dental hygienists. The intervention group received training courses on infection control once a week for 3 hours, for a total of 4 training sessions. We used a survey tool to find the changes between the two groups regarding their health beliefs and practices on infection control measures. The survey was conducted prior to the training sessions, 3 months and 2 weeks after the training. The study results revealed statistically significant increases in perceived sensitivity, perceived seriousness, and perceived benefits after the training courses in the intervention group (p<0.05). A statistically significant decrease in perceived barriers was also noted in the intervention group (p<0.05). Additionally, there was a statistically significant increase in the practice of infection control in the intervention group as compared to the control group (p<0.05). Therefore, we conclude that infection control training is crucial in bringing about positive changes to the health beliefs of dental hygienists, and a structured system is necessary for continuous infection management along with training in order to improve infection control practices.

An Analysis of the Roles of Experience in Information System Continuance (정보시스템의 지속적 사용에서 경험의 역할에 대한 분석)

  • Lee, Woong-Kyu
    • Asia pacific journal of information systems
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    • v.21 no.4
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    • pp.45-62
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    • 2011
  • The notion of information systems (IS) continuance has recently emerged as one of the most important research issues in the field of IS. A great deal of research has been conducted thus far on the basis of theories adapted from various disciplines including consumer behaviors and social psychology, in addition to theories regarding information technology (IT) acceptance. This previous body of knowledge provides a robust research framework that can already account for the determination of IS continuance; however, this research points to other, thus-far-unelucidated determinant factors such as habit, which were not included in traditional IT acceptance frameworks, and also re-emphasizes the importance of emotion-related constructs such as satisfaction in addition to conscious intention with rational beliefs such as usefulness. Experiences should also be considered one of the most important factors determining the characteristics of information system (IS) continuance and the features distinct from those determining IS acceptance, because more experienced users may have more opportunities for IS use, which would allow them more frequent use than would be available to less experienced or non-experienced users. Interestingly, experience has dual features that may contradictorily influence IS use. On one hand, attitudes predicated on direct experience have been shown to predict behavior better than attitudes from indirect experience or without experience; as more information is available, direct experience may render IS use a more salient behavior, and may also make IS use more accessible via memory. Therefore, experience may serve to intensify the relationship between IS use and conscious intention with evaluations, On the other hand, experience may culminate in the formation of habits: greater experience may also imply more frequent performance of the behavior, which may lead to the formation of habits, Hence, like experience, users' activation of an IS may be more dependent on habit-that is, unconscious automatic use without deliberation regarding the IS-and less dependent on conscious intentions, Furthermore, experiences can provide basic information necessary for satisfaction with the use of a specific IS, thus spurring the formation of both conscious intentions and unconscious habits, Whereas IT adoption Is a one-time decision, IS continuance may be a series of users' decisions and evaluations based on satisfaction with IS use. Moreover. habits also cannot be formed without satisfaction, even when a behavior is carried out repeatedly. Thus, experiences also play a critical role in satisfaction, as satisfaction is the consequence of direct experiences of actual behaviors. In particular, emotional experiences such as enjoyment can become as influential on IS use as are utilitarian experiences such as usefulness; this is especially true in light of the modern increase in membership-based hedonic systems - including online games, web-based social network services (SNS), blogs, and portals-all of which attempt to provide users with self-fulfilling value. Therefore, in order to understand more clearly the role of experiences in IS continuance, analysis must be conducted under a research framework that includes intentions, habits, and satisfaction, as experience may not only have duration-based moderating effects on the relationship between both intention and habit and the activation of IS use, but may also have content-based positive effects on satisfaction. This is consistent with the basic assumptions regarding the determining factors in IS continuance as suggested by Oritz de Guinea and Markus: consciousness, emotion, and habit. The principal objective of this study was to explore and assess the effects of experiences in IS continuance, with special consideration given to conscious intentions and unconscious habits, as well as satisfaction. IN service of this goal, along with a review of the relevant literature regarding the effects of experiences and habit on continuous IS use, this study suggested a research model that represents the roles of experience: its moderating role in the relationships of IS continuance with both conscious intention and unconscious habit, and its antecedent role in the development of satisfaction. For the validation of this research model. Korean university student users of 'Cyworld', one of the most influential social network services in South Korea, were surveyed, and the data were analyzed via partial least square (PLS) analysis to assess the implications of this study. In result most hypotheses in our research model were statistically supported with the exception of one. Although one hypothesis was not supported, the study's findings provide us with some important implications. First the role of experience in IS continuance differs from its role in IS acceptance. Second, the use of IS was explained by the dynamic balance between habit and intention. Third, the importance of satisfaction was confirmed from the perspective of IS continuance with experience.