Articles tagged with Economic Decision Making
A study by Norwegian University of Science and Technology's Business School suggests that major sports events often cost more than expected due to underestimation of costs. Researchers propose spreading events across multiple facilities to avoid new construction and reduce waste.
Researchers at Virginia Tech's Fralin Biomedical Research Institute found that practicing episodic future thinking reduced impulsivity and enhanced brain connectivity in key regions. The study suggests that this approach may be a valuable early intervention therapy for substance use disorders.
A Cornell University study found that people who go against their better judgment feel greater feelings of control and culpalibility, even if they received input from an adviser. This effect may extend beyond small decisions to major life choices.
The Finnish Institute for Health and Welfare has published a governance model for the wellbeing economy, which aims to balance social, economic, and ecological sustainability in national-level decision-making. The model proposes using citizens' consultation processes and long-term wellbeing targets to guide government programs.
Researchers discovered that trying to make ourselves happier actually makes us less happy by draining our ability to use self-control and willpower. This 'happiness paradox' is caused by mentally exhausting efforts to regulate thoughts, emotions, and behaviors.
A new study suggests that a menthol cigarette ban could be less effective due to the emergence of an illegal market. The research found that demand for menthol cigarettes would remain high even with limited access to e-cigarettes, leading to a significant black market. This could blunt the intended public health benefits of the ban.
A new study suggests that banning menthol cigarettes in the US could lead to more people trying to quit smoking, but also fuel an illicit market. The research found that 33-29% of menthol smokers would purchase illegal menthol cigarettes and non-menthol alternatives in different scenarios.
Researchers at the University of Navarra present a new prediction methodology to improve fairness and reliability of AI models used in critical decision-making. The methodology optimizes parameters of reliable machine learning models, reducing inequalities related to sensitive attributes.
A new study by Dr Clare Stovell found that women usually lead conversations about parental duties, perpetuating traditional gender roles. Couples rarely discuss or negotiate work and family decisions, with men often assuming full-time work schedules.
Research shows that front-of-package food labels professing 'healthy' contents can decrease consumers' willingness to pay unless supported by FDA backing and explanation. The study found a 18% discount for yogurt labeled as 'healthy', while both 'healthy' and 'great taste' labels led to a 25% discount.
A new Journal of Marketing study reveals that 'buy now, pay later' installment payments can significantly increase customer spending. The research found that by spreading payments into interest-free installments, retailers can boost both the number and average amount spent on purchases.
A new study by the University of Illinois links traffic delays with increased visits to fast food restaurants, resulting in unhealthier eating habits. The research found that even short delays can lead to a spike in fast food visits, especially during evening rush hour.
A study of 1,485 participants across 14 countries reveals significant national and gender differences in exclusionary behavior. Men and ideologically right-wing participants are more likely to propose unequal splits.
A new INFORMS study finds that employees who integrate professional development into their free time report feeling more confident, motivated and capable at work. However, this approach may not be suitable for everyone, particularly those who prefer a clear separation between work and personal life.
A Purdue researcher found that online shopping nudges, such as carbon footprint labeling and product categorization, can effectively promote plant-based food choices that benefit health and the environment. The study suggests that small interventions like labeling have a significant impact on consumer behavior.
Anil Jain and Michael I. Jordan received the BBVA Foundation Award in Information and Communication Technologies for their pioneering work on machine learning, enabling transformative technologies like biometrics and artificial intelligence. Their research has unlocked applications of far-reaching impact on society.
Acemoglu's research focuses on political economy of long-term economic growth and development. He has made outstanding contributions in understanding pressing social issues through his scholarship.
Climate change advocate Kelley T. Lê argues that schools are crucial in mobilizing a global response to the climate crisis. Her new book provides practical tools to equip teachers with the knowledge to teach climate science and inspire students to take action.
Researchers reveal that contradictory findings on territorial self-governance and ethnic civil war risk are primarily due to variations in measurement definitions. The study highlights the importance of considering the nuances of data choice in understanding conflict resolution.
A new study by the University of Essex found that emotional news stories significantly impact men's financial decisions, causing them to avoid risks even when unrelated. In contrast, women's financial decisions remain unaffected by emotional tone.
A recent study by Mizzou researchers found that nursing home residents with Alzheimer's disease or related dementias are more likely to experience avoidable hospital transfers due to a mismatch between care provided and personal preferences. Increasing staff support, training, and resources can help improve outcomes for these residents.
Researchers warn that AI assistants will combine intimate psychological and behavioral data with persuasive technologies to build trust and manipulate social behavior. The 'Intention Economy' could lead to a lucrative yet troubling marketplace where human intentions are commodified.
A recent study found that 72% of retail electricity offers in Ohio's market are above the default price, making them unaffordable for consumers. The study suggests that persistent market failures and lack of transparency hinder consumers from finding cost-effective options.
Research by Charan van Krevel finds that poor investments in resource-rich countries are caused by systemic issues, not just apathy or lack of will. Effective sustainable development is hindered by corporate skimming off profits, leaving little for future generations.
Roman Krzysztofowicz, a professor of systems engineering at the University of Virginia, has written a new book that combines his decades-long research on probabilistic forecasts and optimal decisions. His work builds on his early studies in hydrology and computer programming, which laid the foundation for his later studies in decision ...
The authors introduce advanced methodologies for integrating maintenance strategies and structural health monitoring to extend infrastructure service life. Topics include data-driven decision-making, multi-objective optimization, cost-benefit analysis, and the role of data analytics in managing uncertainties.
New research from Indiana University finds that accepting funding from family and friends can lead entrepreneurs to make more conservative venture growth decisions. This 'funding-source-induced bias' can result in anticipated guilt, prompting founders to prioritize lower-risk strategies.
Researchers found that brief scientific literacy interventions can undermine conspiracy beliefs, particularly those built on faulty reasoning. These interventions were most effective against novel conspiracies and among high-conspiracy groups.
Researchers find that experiences can create lasting mental imprints affecting future well-being and decision-making. Memorable consumption choices are influenced by both immediate utility and the ongoing utility derived from memory.
Researchers found a 10.8% price discount in the AEP 100 flood zone and a 4.4% discount in the AEP 500 flood zone, highlighting the financial burden of flood risk on homebuyers. The study emphasizes the need for policymakers to safeguard communities and manage real estate markets as climate patterns intensify.
A USC Schaeffer study found that over half of Medicare beneficiaries with stand-alone Part D plans did not switch due to lack of plan comparisons, with many unaware of how to change plans or missing out on better coverage options. This complacency allows insurers to exploit beneficiaries' inattention and boost profits.
A recent study published in PLOS Biology found that teenagers often make suboptimal choices due to limited cognitive resources. As they grow older, these 'noisy' decisions decrease and are replaced by more sophisticated choice behaviors. This improvement is linked to increased performance across learning tasks.
A new study led by UNLV anthropologist Brian Villmoare models thousands of generations to understand why animals, including humans, prioritize short-term benefits over long-term returns. The research suggests that organisms choose a more distant reward only if it's substantially higher and has a high degree of reliability.
A policy brief by the Complexity Science Hub calls on G20 countries to collect granular supply chain data to identify key weaknesses and prioritize resilience-building investments. The move aims to prevent economic collapse in the face of future climate shocks, affecting millions worldwide.
A new study by the Complexity Science Hub finds that firms with higher levels of information consumption outperform their peers financially and are more innovative. The research reveals an 'economy of scale' in news consumption, where larger firms read a greater number of unique pieces of news.
A recent study found that over 90% of Mexican consumers would be willing to pay a premium of up to 73% for non-genetically modified products, including chicken, eggs, and tortillas. The ban on genetically modified corn could have significant impacts on US farmers who rely heavily on Mexico as their second-largest importer.
A recent study by the University of New Hampshire found that political affiliation plays a significant role in gift-giving decisions, with participants favoring politically aligned items for others over themselves. This suggests that individuals often consider how their target's politics may affect them when making purchasing choices.
Researchers found that users pay a price for free mobile apps, including reduced focus, sleep deprivation, and loss of physical contact. Users prefer to make one-time purchases to protect their privacy over using services with hidden costs.
A new study found that individuals' willingness to cooperate in one-time situations is remarkably stable, regardless of the potential benefits. Across two experiments involving over 2,000 participants, the researchers found no significant change in cooperation rates when benefits were increased.
A new study from UCSF has found that ChatGPT overprescribes in emergency care situations, providing unnecessary x-rays and antibiotics. The AI model was less accurate than resident physicians, with a tendency to err on the side of caution. Researchers emphasize the need for better frameworks to evaluate clinical information before AI c...
A study by University of Exeter researcher Dr Pedro Perfeito da Silva explores the impact of popular resistance and union support on economic policies in Ecuador and El Salvador. The findings suggest that administrations reliant on strong public backing implemented stricter capital controls, while those with less support adopted more n...
Cities with high-performing streetcar systems prioritize transporting people to desired locations, while those that focus on economic development often experience poor performance. The study highlights the importance of focusing on passenger attraction and coordinated fare policies for successful streetcar systems.
A new study by Dr. Abigail Hurwitz and Prof. Orly Sade found that retirees are more likely to cash out smaller retirement accounts instead of turning them into steady income streams. This behavior can hurt their long-term financial security, leading to less stable income in retirement.
A University of Illinois study found that climate conditions can mitigate the effects of grazing on water quality, suggesting a more flexible approach to stocking rates and grazing continuity. The research developed a modeling framework to simulate nitrogen transport from livestock grazing under different climate conditions.
Research suggests that people prioritize collaborating with higher-paid colleagues, assuming they possess greater knowledge and skills. In contrast, lower-paid subordinates are preferred for hiring due to the belief that salary differences reflect organizational rank.
A new study found that individuals with low financial knowledge are more likely to expect never retiring. Those who were overconfident in their financial knowledge also fall into this category. The findings suggest that many people who claim to never retire may be unaware of their financial situation and lack a plan for retirement.
A Concordia-led team developed a framework that enables crowdsourced deep reinforcement learning as a service, using blockchain technology. This allows smaller organizations to access complex AI tasks previously out of reach, reducing costs and risk.
A new study published in JAMA Health Forum found that machine learning can be more effective than traditional methods for distributing scarce treatments to patients most vulnerable during a public health crisis. The model reduces expected hospitalizations by about 27 percent compared to actual and observed care.
A new study by University of South Florida researchers found that receiving a complimentary healthy food item can influence consumers to purchase indulgent foods. The study, published in the Journal of the Academy of Marketing Science, suggests that free samples may not be as healthy as they seem.
A study of 500 participants from 11 countries reveals that suboptimal decisions are a universal human trait due to context influences. The researchers identified culture-specific risk preferences, with some nations exhibiting higher or lower risk-taking tendencies.
Households in low-income areas face higher petrol price increases when rival fuel stations close compared to high-income areas. Despite new station openings, low-income areas do not benefit from the same drop in prices. The study found that larger chains respond with higher price increases following a rival's exit.
New research finds women make up 50% of post-harvest fisheries and aquaculture workforce, yet often remain invisible, unpaid or underpaid. The study calls for policy changes to address social justice dimensions of technology development.
A new study finds that pollution levels significantly impact households' decision to relocate within the US, with poorer families being priced out of healthier areas. Richer households, on the other hand, opt for cleaner environments, earning more than average in their new communities.
A study by Tel Aviv University researchers found that homes sold through free classified services received fewer clicks, sold more slowly, and at a lower price than identical homes sold through paid services. This resulted in an average net loss of about 3.5% to 3.8% of the transaction price.
Researchers identify two key factors driving consumer participation in community-supported agriculture: the socio-cultural environment and weighing of expected gains against losses. These factors shape individuals' knowledge, attitudes, and decisions, highlighting the importance of considering lifestyles and values when promoting CSA.
A new study quantifies air pollution for NYC subway commuters, revealing disparities in exposure across racial and income groups. The research found that people from lower-income working communities have higher exposures and Black and Hispanic workers experience on average 35% and 23% higher PM2.5 exposure, respectively.
A new study by Prof. Eyal Klement and PhD Student Michal Morgenstern has identified key factors influencing vaccination intentions among Israeli dairy farmers, revealing the significant impact of social pressure and underscoring the need for improved communication between veterinarians and farmers.
A new study reveals that Maasai women are gaining access to household decisions through livelihood diversification, education, and secure land tenure. This research contributes to the United Nation's Sustainable Development Goal of Gender Equality, highlighting the value of empowering decision-making for women in pastoralist communities.
A mathematical model developed by Chris Zobel and colleagues optimizes resource allocation in urban infrastructure while considering social vulnerabilities and projected sea level rise impacts. The approach prioritizes investments that enhance resilience and mitigate socio-economic disparities, enabling informed decision-making that ba...
The COVID-19 pandemic significantly widened existing economic and health disparities, slowing progress toward health-related Sustainable Development Goals. Low-income countries can expect an average progress loss of 16.5% across all health indicators.