Articles tagged with Economic Decision Making
Researchers from the Indiana University Kelley School of Business found that companies should only separate CEO and chair roles when there is a performance problem. The 'demotion strategy', which keeps the CEO but brings in an independent chair, was found to be the most corrective approach, reversing prior year's performance by 150%.
The Modeling Good Research Practices Task Force provides comprehensive guidance on designing, implementing, and validating model-based studies. The seven reports offer recommendations for conceptualizing models, dealing with uncertainty, and validating models transparently.
A study published in Frontiers in Neuroscience found that people's performance worsened when they had to make sense of feedback while performing a main task. The research highlights the importance of considering task complexity when providing feedback to avoid hindering performance.
A study from University of Illinois economics professors demonstrates a new method to analyze relationships among voters' issue preferences, candidates' policy positions, and voter behavior. The researchers found that policy divergence has increased significantly since the 1970s, particularly on cultural issues.
Researchers developed a 'cost-sensitive' model to determine when importing a given plant is worth the risk, balancing economic benefits and environmental damage. The model uses statistical procedures to assess a plant's likelihood of becoming invasive.
A recent study published in Psychological Science suggests that when Americans think about choice, they become less concerned with reducing wealth inequalities. The researchers found that a choice-oriented mindset leads people to focus on individual agency and underestimate the role of societal structures in creating wealth disparities.
Experts discuss the science underlying ecosystem services markets, weighing benefits against potential unintended consequences for non-target ecosystem attributes. The symposium aims to address tough questions about how to measure and value nature's services.
The Kiel Cluster of Excellence 'The Future Ocean' has secured funding for its second phase, focusing on natural resources, biological diversity, and gas exchange. This will enable the team to provide a scientific basis for sustainable ocean management and engage in dialogue with decision makers.
A new study by Cornell University researchers found that genetic factors explain some variation in people's political attitudes and economic decisions. However, the effects of individual genetic variants are tiny and scattered across the genome, making it difficult to predict economic and political preferences.
Researchers found that thinking in a foreign language reduces loss aversion and asymmetry in decision-making. People are more likely to take attractive bets when considering options in a non-native tongue, as it provides a distancing mechanism that moves them from intuitive to deliberate thinking.
The Pacific Northwest Tsunami Evacuation Zones online portal and free apps provide an at-a-glance view of tsunami hazard zones along the coasts of Oregon and Washington. Planning tools like this are essential to safeguarding lives and property.
A University of Miami study shows that religious individuals are more likely to delay gratification and prefer larger rewards over time. This ability is positively correlated with their commitment to religious teachings and institutions.
The pecan weevil is a major pest of pecans in the southeastern US. Scientists from Oklahoma State University and Texas A&M University describe IPM strategies, including monitoring techniques and primary control methods. Biological control and livestock grazing are also considered for management.
Researchers found that fishermen in wealthier countries are less likely to give up their trade due to subsidies and job satisfaction. In contrast, those in poorer countries with diversified livelihoods are more willing to leave the fishery. The study highlights the complexity of decision making and factors influencing willingness to ad...
A recent study examines ash tree removal and pesticide options to minimize urban forest loss due to Emerald Ash Borer infestations. The results show that insecticide treatments retain greater urban forest value, while preemptive removal without replacement is the least expensive option.
A study from the University of Minnesota's Carlson School of Management found that when men perceive women as scarce, they become more impulsive, save less, and increase borrowing. This effect is seen in both laboratory experiments and archival data from over 120 US cities.
A recent health impact assessment (HIA) reveals the light rail line would bring increased access to transit, jobs, and affordable housing. However, it also identifies potential risks of displacing low-income residents and rising housing costs, which could lead to health problems.
A Princeton University research team found that uninformed individuals can act as a counterbalance to minority groups, restoring majority rule. The study challenges the common notion that an outspoken minority can manipulate uncommitted voters.
A team of researchers found that doctors who learned from both successes and failures performed better in making treatment choices. They used fMRI imaging to detect characteristic brain patterns for high performers and low performers, showing a correlation between attention to failed treatments and better performance.
A recent study by Temple University researchers found that online marketplaces like eBay and Amazon prioritize risk reduction over social aspects of transactions. The authors analyzed buyer data to gauge assessments of online safeguards, finding that economic risk is a significant consideration only in moderately risky markets.
Researchers found a small group of people with high cognitive control can behave rationally in the Ultimatum Game, making more money. Most people offer uneven splits and reject offers, driven by strong emotional motives.
A new study funded by the Economic and Social Research Council found that Whitehall's deep-rooted culture of centralism is a major barrier to achieving localism in England. The research team conducted interviews with senior Whitehall officials and regional stakeholders, revealing a lack of flexibility and discretion in spending decisions.
Researchers find that people's economic decisions change when survival or reproduction is on their minds. This contradicts the idea of humans making rational choices in finance, suggesting biases developed millions of years ago still affect us today. The study suggests these ancient biases can profoundly alter financial decisions over ...
A study by Rotman School of Management researchers suggests people with seasonal depression avoid risk in fall and winter, increasing their risk tolerance in spring and summer. The findings have implications for financial planners and traders, highlighting the importance of considering emotional factors in financial decision-making.
University of Missouri nutrition experts recommend eating balanced meals and farm-fresh produce to promote healthy eating choices. Families can implement healthy eating ideas by trying seasonal fruits and vegetables, such as those available at local farmers markets or grocery stores.
The report highlights the importance of living conditions, such as housing quality and access to healthy food, in determining health outcomes. Health Impact Project director Aaron Wernham praises the publication as a 'game-changer' for promoting the use of health impact assessments in decision-making.
Researchers paired agent-based land-use models with stakeholder interviews to better understand the impact of human activities on landscapes. The study highlights the potential benefits of involving local communities in decision-making processes for more effective and sustainable solutions.
A new study finds that irrigation increases global agricultural productivity by an amount equivalent to the entire US agriculture sector, leading to significant carbon uptake. Adding even small amounts of water can have a bigger impact than larger amounts in wetter regions.
The Liverpool pavilion received over 770,000 visitors during the 184-day expo period, with 99% of visitors recommending it to a friend. This exposure led to increased interest from Chinese firms, with 75% of sponsors including China in their business plans and 70% expecting future sales/orders.
Research from Brown University economists finds that voters are more likely to support recommended candidates after newspaper endorsements, but credibility matters. Moderate voters are most influenced by endorsements. Key findings suggest voters filter out media bias when making informed decisions.
The National Ecological Observatory Network (NEON) will build 62 sites across the US, utilizing cutting-edge technology to gather and synthesize continental-scale data. This information will support understanding and predicting environmental change on regional and continental scales.
Physicians can tailor treatment decisions by assessing the outcome of each treatment on smaller subgroups of patients, streamlining decision-making while keeping expenditures low. The approach aims to provide more accurate cost-benefit analysis for individual patients, complementing population-level analyses.
The vaccine community demands evidence on vaccine efficacy but neglects research on public trust. Building trust depends on understanding perceptions of vaccines and addressing historical experiences, socioeconomic status, and misinformation.
Researchers at the University of Pennsylvania have identified the ventromedial frontal cortex as the brain region responsible for making everyday decisions about value. The study, led by Joseph Kable, found that people with damage to this area are less consistent in their choices and unable to assign a value to certain items.
Researchers found that implicit racial biases predict disparities in perceived trustworthiness of Black and White faces, as well as differences in willingness to risk money with partners. These findings suggest that unconscious attitudes may drive rapid evaluations in the absence of additional information.
For the first time since 1972, more Americans say their financial situation has gotten worse. This decline is attributed to economic uncertainty and personal finances. Meanwhile, marital happiness increased, and Americans remain satisfied with their work.
A study by Columbia Business School and Ben-Gurion University of the Negev found that judges' willingness to grant parole can be influenced by time between breaks. After a break, 65% of cases were granted parole, with rates dropping to zero and then rising again. The study bolsters research on psychological biases in experienced judges.
A group of experts has identified 40 critical environmental questions to guide scientific research and inform natural resource management. These questions aim to balance economic, social, and ecological considerations, facilitating collaboration between researchers and policymakers.
A recent survey by NORC at the University of Chicago found that Americans prioritize education as the top spending category, followed by healthcare. The study, which analyzed data from 2010, also showed a decline in support for increased spending in some categories, despite the economic downturn.
A recent study emphasizes the importance of considering urban dynamics, national policies, and economic globalization when researching tropical deforestation. The researcher argues that current models are too simplistic, ignoring the complex feedback loops between human decisions and environmental changes.
A new multi-institutional center will develop tools to help governments, businesses, and individuals make informed decisions on climate and energy policies. The Center will utilize a new modeling framework, CIM-EARTH, to provide insights to policymakers and promote open science.
The University of Oklahoma is establishing an Institute for Water and Sustainability, including the Oklahoma Water Survey, to benefit Oklahoma and the nation. The institute will provide research and data for informed decision-making regarding water conservation and use.
A new study published in British Environmental Conservation journal found that people with good jobs in large cities are more likely to engage in pro-environmental activities. The researchers analyzed data from China's General Social Survey, which showed employees who work for companies in big cities and hold leadership positions repor...
Researchers found that apes prefer to play it safe when odds are uncertain, mirroring human behavior. They distinguish between risk and ambiguity, with greater hesitation towards unknown outcomes.
Research from University of Michigan Marketing Professor Scott Rick shows that tightwads and spendthrifts tend to spend about the same amount on gifts during Black Friday. This discrepancy arises due to differences in psychological pain associated with spending decisions, particularly when purchases are optional.
The TEEB report underscores the importance of incorporating nature's value into decision-making, with potential benefits for poverty reduction and business growth. The report also notes significant business and social risks from failing to account for natural capital.
A joint research project between Georgia State University and Emory University will study hospital length of stay to improve medical decision making and lower healthcare costs. The researchers will develop decision support computer software to aid physicians in making optimal discharge decisions.
The report examines how individuals behave in stock and credit markets, noting that people tend to be more influenced by perceived risk than objective risk. It also discusses how financial crises impact people's well-being, including the role of cognitive biases and affective social influences.
Gretchen Daily's innovative research places a value on natural ecosystem services, leading to increased momentum in conservation efforts. Her work, including the InVEST software program, informs global policy decisions on land use and resource management.
The commentary calls for a core medical school course that incorporates health policy, ethics, and evidence-based medicine to reflect economic influences on clinical decisions. This approach aims to improve physicians' critical capacity to assess factors affecting their decisions, as well as their social and ethical implications.
Conservationists argue that managing biodiversity as a global public good is key to its preservation. The paper emphasizes the need for policymakers, businesses, and civil society to incorporate biodiversity into their decisions.
A new study by Cornell University Ph.D. candidate Christin Munsch found that men who are economically dependent on their female partners are five times more likely to cheat than those who contribute equally. In contrast, women who rely financially on their male partners are less likely to engage in infidelity.
A study by William Kerr and William Lincoln found that highly skilled temporary immigrants increase U.S. patent applications without displacing native workers. The research used data from 1995 to 2008 and analyzed the impact of H-1B visa reforms on innovation.
The vizLib project analyzed data from 450,000 library users in Leicestershire, revealing unprecedented insights into the behavior of service users. The graphic partnership informs policy decisions and inspires greater interest among policymakers and the public.
A study found that corporate press releases are not associated with positive or negative company performance, as companies with negative results also use these releases to improve their image. The researchers suggest cultural and financial factors contribute to this phenomenon.
A recent study by Moises Arce found that protests in Latin America can lead to changes in policies and the direction of government. New parties emerging from these protests better represent popular interests and serve as effective communication channels for political discourse.
Researchers at Duke University found that cognitive ability, not age, is the key factor in predicting risky decisions. The study showed that older adults who scored higher on cognitive tests made similar economic decisions as younger adults.
Researchers at Cornell University's Food & Brand Lab found that moving the salad bar to a more prominent location in the cafeteria led to a 250-300% increase in sales of certain salad items. This simple change resulted in 6% more kids eating school lunches.
Dr. Graciela Chichilnisky's research provides solid foundations for better preparing the public and experts for catastrophic events like hurricanes, tsunamis, and floods. Her team has developed new tools in probability and statistics to rank risks, prioritize decisions, and evaluate economic after-effects of disasters.
Research finds that young Britons are exposed to more smoking in movies due to the UK's film classification system. The study, published in Tobacco Control, reveals that UK adolescents see nearly 28% more tobacco impressions in '15' or '12A' rated films compared to their US peers.