Articles tagged with Economic Decision Making
Comprehensive exploration of living organisms, biological systems, and life processes across all scales from molecules to ecosystems. Encompasses cutting-edge research in biology, genetics, molecular biology, ecology, biochemistry, microbiology, botany, zoology, evolutionary biology, genomics, and biotechnology. Investigates cellular mechanisms, organism development, genetic inheritance, biodiversity conservation, metabolic processes, protein synthesis, DNA sequencing, CRISPR gene editing, stem cell research, and the fundamental principles governing all forms of life on Earth.
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Comprehensive investigation of human society, behavior, relationships, and social structures through systematic research and analysis. Encompasses psychology, sociology, anthropology, economics, political science, linguistics, education, demography, communications, and social research methodologies. Examines human cognition, social interactions, cultural phenomena, economic systems, political institutions, language and communication, educational processes, population dynamics, and the complex social, cultural, economic, and political forces shaping human societies, communities, and civilizations throughout history and across the contemporary world.
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Study of abstract structures, patterns, quantities, relationships, and logical reasoning through pure and applied mathematical disciplines. Encompasses algebra, calculus, geometry, topology, number theory, analysis, discrete mathematics, mathematical logic, set theory, probability, statistics, and computational mathematics. Investigates mathematical structures, theorems, proofs, algorithms, functions, equations, and the rigorous logical frameworks underlying quantitative reasoning. Provides the foundational language and tools for all scientific fields, enabling precise description of natural phenomena, modeling of complex systems, and the development of technologies across physics, engineering, computer science, economics, and all quantitative sciences.
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.
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 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.
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.
Companies like IBM are shifting pension investment risks to employees through defined contribution plans, but Robert C. Merton argues that without corporate oversight, these plans may not provide long-term security for investors. Merton emphasizes the importance of corporate responsibility in ensuring the financial stability of DC plans.
Research reveals that people's mood can influence their choices, particularly in situations involving risk-taking behavior, social interactions, and financial decisions. The studies found that thinking about one's own mood can increase concern with the pleasurable consequences of decisions, leading to less optimal outcomes.
Researchers found that anger evokes casual judgments more frequently than sadness, leading to a desire for actions against offenders. In contrast, sadness may prompt actions targeting victims, such as healing and support.
Research finds activation of specific brain regions depends on participants' preferences for risk or ambiguity, shedding light on why people make risky choices. The study's results contribute to the emerging field of neuroeconomics, a new area of research that combines neuroscience and economics.
Professional football coaches exhibit conservative behavior when making decisions, prioritizing the risk of losing over potential gains. Despite this, research suggests that such behavior can have significant consequences, including decreased team performance.
A Pitt professor proposes using an ecological management system to evaluate nature's economic value, bridging economics and ecology. The approach considers ecosystem services like storm damage reduction and wetland maintenance, highlighting the gap between market and social values.
This study analyzes Thomas Jefferson's purchase of the Louisiana Territory without congressional consent, highlighting the ethical complexities of statesmanship and administrative ethics. The researcher concludes that while Jefferson's decision was morally complex, it ultimately served the nation's interests.
A focus on process can minimize decision difficulty for high-stakes choices like financial investments and healthcare. By honing in on a succinct decision process, individuals can make decisions more efficiently, especially when faced with aversive options.
A NYU-Cornell study found that people's perceptions of morality significantly impact their economic decisions in a trust game. Despite knowing the response patterns are the same, participants continued to trust good partners more than bad ones.
Research by Suraj Commuri and James Gentry found that women earning more than their spouses do not simultaneously earn domestic power, despite previous theories suggesting a shift in decision-making authority. The study highlights the need for further examination of household forms and consumption decisions influenced by factors such a...
Researchers found that tufted capuchin monkeys performed similarly to humans in making decisions under uncertainty, but also made similar mistakes. The study sheds light on the evolutionary origins of human economic behavior and its implications for understanding consumer decision-making.
Researchers found that young women in Cameroon view their life as random, while those in rural Thailand consider the sex industry an option. In Hong Kong, a successful women's movement secured inheritance rights for indigenous women through public framing of their stories as human rights violations.
A new study finds that statin therapy can significantly reduce hospitalization costs and costs of major vascular events. The cost-effectiveness of treatment varies depending on individual risk levels, with lower-risk groups potentially benefiting from statins.
A team of researchers has discovered a neural mechanism related to impulsive decision-making in pigeons. The study found that single neurons in the avian forebrain show increased activity when anticipating rewards, with activation levels decreasing as delays increase, leading to preferences for immediate over delayed rewards. This brea...
A Carnegie Mellon study discovered that participants appearing near the end of juried competitions receive higher marks from judges. The serial position effect may apply to everyday evaluations such as job interviews and student exams.
A joint environmental monitoring system was established between Hungary and Slovakia to assess the dam's impact on the Danube River. The authors recommend integrating this system with regional monitoring structures to achieve sustainable management of shared water resources.