Articles tagged with Economic Decision Making
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.
The California Institute of Technology has received over $33 million in funding from the American Recovery and Reinvestment Act (ARRA) to support a wide range of research projects. These grants will fund more than 90 jobs and contribute to breakthroughs in fields such as neuroeconomics, jet noise, and genomic sciences.
A soft intelligence approach can help solve problems in healthcare, defense, economics, engineering, and science where definitive answers are rare. Soft metrics use shades of gray and judgments to provide justifiable answers that aren
A study by Dr. Tiziana Nazio found that public sector workers are more likely to have children due to the relative security of employment, flexible hours, and career progression linked to seniority. In contrast, men's careers do not directly influence their decision to have children, but rather the pattern of women's careers and househ...
A University of Illinois study found that firms with heavy long-term debt that came due during the recent credit crisis slashed investment more than three times as much as companies whose paybacks dodged the meltdown. This can have a ripple effect on the overall economy, leading to reduced employment and profits in the future.
Researchers found that men and women who consume low amounts of alcohol have higher healthcare costs compared to non-drinkers. The study challenges the common assumption that moderate drinking is good for your health.
A study by Dr. Dave Marcotte found community college graduates earn 45.8% more annually than high school graduates, with men earning 12.2% more. The research also showed that completing coursework without a degree still yields substantial economic benefits.
Researchers found that parents favor names gaining popularity relative to those falling out of favor, creating a self-fulfilling prophecy. The study analyzed historical data on baby name frequencies over 127 years, revealing a shift towards consistent momentum in name popularity.
Firms in energy-intensive industries invest regardless of regulatory enforcement due to social pressure and internal synergies. Economic logic also plays a role, as firms that expect to reap early benefits or recognize internal synergies are more likely to invest sooner.
A study analyzing business return to New Orleans post-Katrina found that businesses reopening cited damage to physical locations and financing as primary concerns, while those remaining closed ranked levee protection as top concern. The study used repeated telephone surveys of businesses from December 2005 to October 2007.
Researchers used fMRI to study participants engaging in a complex risky choice task, revealing different brain regions predicting specific choices and individual strategic biases. The findings indicate that the neural mechanisms of choice reflect more than competition between decision variables.
Neuroscientists at Duke University Medical Center used fMRI to study brain activity while participants made economic decisions. The study found that brain regions associated with rational processing were active when subjects used simplifying strategies, contradicting traditional notions of rational vs. irrational decision-making.
A new study by researchers from the University of Minnesota found that individuals with higher cognitive ability are more likely to make good economic decisions, including taking calculated risks and being cooperative. The study also found a positive correlation between cognitive skill and perseverance in job retention.
A new study finds that politically conservative states with higher per capita income, youth populations, and cancer mortality rates are more likely to restrict youth access to tobacco. The study reveals that clerk intervention and random inspections are effective methods for restricting youth access.
The Status of the Geoscience Workforce 2009 Report provides comprehensive insights into the geosciences workforce, education, and economic dynamics. The report details demographics by age, race, gender, and industry type, as well as student and research funding statistics.
A study using fMRI found that expert advice suppresses brain regions involved in making value judgments, particularly when risk is involved. This 'off-loading' of decision-making can lead to detrimental consequences if the trusted source turns out to be incompetent or corrupt.
The Lancet Editorial calls on UK PM Gordon Brown to lead strong and just leadership at the G20 summit, ensuring poorer countries are not left out of global solutions. The Editorial suggests several proposals to aid Brown, including detailed IMF voting rights proposals and a plan to end illegal flight capital.
The study found that individuals who focus on individual choices are more loss-averse, while those considering portfolio strategies exhibit less emotional response to losses. This shift in perspective reduces physiological arousal, such as increased sweating, associated with financial losses.
The University of Chicago is launching a large-scale collaboration to develop a computational modeling tool that will help policymakers make informed decisions on climate and energy policy. The new framework, CIM-EARTH, will analyze and predict the effects of climate policy decisions on the global economy.
The special section of Medical Decision Making examines three evidence-based theories to assess, prevent, and intervene in healthcare decisions. These theories provide a bridge between research advances and health outcomes.
Researchers found that unconscious thought was not always effective in making the best choices. Instead, thinking about a decision at one's own pace and focusing on the problem led to larger payoffs. The study suggests that relying on self-paced conscious thought can be a more reliable approach for complex decisions.
Researchers at Argonne National Laboratory have created new agent-based models to better understand market behavior and predict potential economic catastrophes. These models use information from surveys and simulations to forecast how individual actors in a market make decisions, allowing policymakers to anticipate and avoid meltdowns.
Entrepreneurs are riskier decision-makers than managers, according to a study published in Nature. The study found that entrepreneurs' 'functional impulsivity', or ability to make quick decisions under stress, is linked to brain neurochemistry and may be possible to teach or enhance with pharmaceuticals.
Researchers found that people choose differently when given feedback in experiential choices compared to descriptive choices. The study suggests that feedback may drive individuals towards rational decision-making by treating small probabilities more objectively.
Researchers at New York University used functional magnetic resonance imaging (fMRI) to study patterns of brain activation during experimental auctions. They found that participants' exaggerated response to losses in the auction game correlated with their tendency to overbid, suggesting that the fear of losing social competition may le...
A study published in the Journal of Small Business Management found that promoting a company's family aspect can enhance performance and provide competitive advantage. Family businesses influence customers' purchase decisions by reminding them of the personal connection behind the business.
A new study from Tel Aviv University finds that people's response to risk is driven by personal experience and simple strategies for coping in nature, rather than logical rationales or statistics. This behavior may not be well-suited for the modern world, where risks are more complex and unpredictable.
A recent study found that older adults are less likely to commit the sunk-cost fallacy, instead viewing situations from a balanced perspective. This allows them to recognize that past investments cannot be recovered by continuing to invest time.
The partnership aims to improve decision-making by incorporating the value of ecosystem services into policy. Researchers will use computer models to predict impacts on ecosystem services from development options.
A recent study found that language difficulties added significant misunderstandings about genetic disorders among the Bangladeshi community in Britain, particularly when it comes to testing and screening decisions. The research highlights the need for greater understanding of language barriers and their impact on patient care.
The American College of Physicians recommends establishing a national research organization to improve physician and patient access to clinical and cost-effectiveness information. This would help address the current lack of reliable data on healthcare interventions' effectiveness, leading to more informed decision-making.
Two studies found that removing dams in Maine increased property values by reducing a penalty for being near the dam site. The penalty has shrunk since dam removal, and it now affects properties further away from the dam more than those closer to the dam.
Researchers examine implications of Discovery Theory and Creation Theory on entrepreneurial actions, revealing context-dependent differences. The study highlights the importance of understanding the underlying assumptions to predict the most effective actions.
A study by Chengyan Yue found that consumers prefer conventionally grown apples with minimal blemishes due to their better appearance. Organic apple producers must weigh the trade-off between cosmetic damage and production costs in their decisions.
A new study published in Psychological Science found strong support for consensus among instant runoff and three classic voting methods: Condorcet, Borda count, and Plurality. This contradicts past research that highlighted worst-case scenarios and the mathematical impossibility of a single universally 'best' election method.
A new study demonstrates how visual arrangement of alternatives can increase the likelihood of a product being chosen. Grouping options with similar characteristics can emphasize dissimilar options and help them stand out.
A study funded by the Economic and Social Research Council found that over half of participants in experiments failed to plan ahead when making dynamic decisions about their lives. The research shows that people tend to either fully plan or not plan at all, with most taking a route that only appears favorable.
Researchers are developing an interactive simulation of a wildfire spreading through Volusia County to study how residents make decisions about prescribed burns and insurance. The study aims to demonstrate that virtual reality can be an effective public policy tool in encouraging residents to invest in prevention.
Researchers found that green consumers face difficulties deciding which product to buy due to conflicting values and lack of information. The study identifies three types of green consumers: selectors, translators, and exceptors, highlighting the need for practical help and incentives to promote sustainable practices.
The Scandinavian Journal of Economics has published a special issue celebrating the rise of political economics, an interdisciplinary field that combines public choice, rational choice, and macroeconomics to study government policy. Key findings include models exploring the evolution of economic institutions, efficiency aspects of poli...
A study from Carnegie Mellon, Stanford, and MIT used fMRI to determine brain activity when considering product purchases and predicting buying behavior. The results suggest that consumers trade off immediate pleasure for delayed pain of spending money, explaining overspending on credit cards.
Recent research published in the Lancet has shown that nursing home patients with severe Alzheimer's disease experienced significantly improved cognitive function when treated with donepezil. Additionally, data suggests that these drugs are effective in patients with milder forms of Alzheimer's disease, sparking hope for a potential re...
Experts suggest airlines take preventative steps to protect against shoulder-fired missile attacks, which could have a significant economic impact of up to $250 billion. The cost-benefit analysis is crucial in making informed decisions about countermeasures.
A new policy paper from Stanford Medicine suggests that the earliest years of life forever shape an adult's ability to learn. The research emphasizes the importance of positive interactions with nurturing adults in shaping brain architecture and future productivity.
Researchers from Yale University found that capuchin monkeys display similar economic biases to humans, including a preference for bonuses over losses. The study suggests that loss-aversion may be an innate feature of economic choice.
A study by Harvard Medical School researchers identifies specific neurons in the orbitofrontal cortex that assign values to different goods. This discovery sheds light on choice deficit disorders such as eating disorders and compulsive gambling.
The WHO's 2006 World Health Report faces criticism for its limited information on human-resource gaps and needs. The report lacks geographical distribution, skill levels, and sector balance details, hindering policymakers' decisions. The Lancet comments that the WHR shows a significant gap between current knowledge and necessary data.