| Literature DB >> 36034522 |
Minh-Hoang Nguyen1,2, Viet-Phuong La1, Tam-Tri Le1,2, Quan-Hoang Vuong1.
Abstract
The paper introduces Bayesian Mindsponge Framework (BMF) analytics, a new analytical tool for investigating socio, psychological, and behavioral phenomena. The strengths of this method derive from the combination of the mindsponge mechanism's conceptual formulation power and Bayesian analysis's inferential advantages. The BMF-based research procedure includes six main steps, in which the mindsponge-based conceptualization and model construction is the key step that makes the method unique. Therefore, we elaborate on the fundamental components and functions of the mindsponge mechanism and summarize them into five memorable principles so that other researchers can capitalize directly. An exemplary analysis was performed using a dataset of 3071 Vietnamese entrepreneurs' decisiveness and perceptions of the likelihood of success/continuity to validate the method.•The paper provides five strong points of BMF analytics, originating from the good match between the mindsponge mechanism and Bayesian inference.•The paper also provides a step-by-step procedure for conducting BMF-based research.•The mindsponge mechanism's basic components and functions are elaborated and summarized into five core principles that can be applied directly for research conceptualization and model construction.Entities:
Keywords: Bayesian inference; Information process; Mindsponge mechanism; Psychological and behavioral sciences; Social sciences
Year: 2022 PMID: 36034522 PMCID: PMC9400117 DOI: 10.1016/j.mex.2022.101808
Source DB: PubMed Journal: MethodsX ISSN: 2215-0161
Fig. 2The logical diagram of the mindsponge mechanism's five main principles, directly borrowed from Nguyen and Vuong [49].
Fig. 1Mindsponge mechanism. The visualization is retrieved from Nguyen, et al. [38] under the Creative Commons Attribution license (CC-BY).
Description of outcome and predictor variables.
| Modified variables | Original variables (in the dataset) | Meaning | Type of variable | Value |
|---|---|---|---|---|
| Self-evaluation of creativeness of product/services/business model | Numerical | 1 = not at all | ||
| Whether the entrepreneur learns from other peoples׳ failures | Continuous | 1 = no need | ||
| Entrepreneurs’ efforts to transform ways of thinking, acting and beliefs | Continuous | 1 = none |
Fig. 3PSIS diagnostic plot.
Simulated posteriors.
| Parameters | Informative priors | Uninformative priors | ||||||
|---|---|---|---|---|---|---|---|---|
| Mean | Standard deviation | n_eff | Rhat | Mean | Standard deviation | n_eff | Rhat | |
| 1.84 | 0.06 | 6128 | 1 | 1.85 | 0.06 | 5325 | 1 | |
| 0.22 | 0.04 | 4882 | 1 | 0.21 | 0.04 | 4212 | 1 | |
| 0.05 | 0.01 | 6310 | 1 | 0.05 | 0.01 | 5243 | 1 | |
Fig. 4Trace plots.
Fig. 5Gelman plots.
Fig. 6Autocorrelation plots.
Fig. 7Parameters’ posterior distributions with HPDI at 90%.
| Subject area: | Social Sciences; Psychology |
| More specific subject area: | |
| Name of your method: | |
| Name and reference of the original method: | Vuong Q-H, Nguyen M-H, & La V-P (2022) |
| Resource availability: | The code and data supporting the exemplary analysis is available in the Supplementary |