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This research provides the first examination of the effectiveness of cryptocurrencies as an innovative recovery tool Through four experiments, we assess the effects of crypto-compensation against traditional compensation types (voucher/cash) on customer recovery satisfaction Study 1 findings indicate that crypto-compensation is more effective than voucher and cash in improving customer recovery satisfaction Further, it shows that consumer innovativeness moderates the effectiveness of crypto-compensation After establishing the effectiveness of crypto-compensation, Study 2 finds a moderating effect of consumer choice in influencing crypto-compensation effectiveness Study 3 reveals the differential effect of communicating different crypto-compensation benefits on customer recovery satisfaction Finally, Study 4 concludes that familiar cryptocurrencies (e g , Bitcoin vs EOS) best restore satisfaction after a failure and that compensation message framing (i e , cryptocurrency monetary value vs real nominal value) moderates this relationship Theoretical and practical implications are discussed
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Journal_of_Business_Research
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A Bit(coin) of happiness after a failure: An empirical examination of the effectiveness of cryptocurrencies as an innovative recovery tool
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