Articles tagged with Economic Decision Making
Researchers developed a model that better described human and monkey decision-making under uncertainty, showing that unexpected wins led to increased risk taking. The findings suggest a change in perception of probabilities rather than valuation of rewards.
A new study by the University of Notre Dame found that consumers tend to use cash for purchases they consider guilty or difficult to justify, while using cards for easier-to-justify transactions. This strategy helps consumers forget about undesirable purchases and track their spending more easily.
Online radiologists choose studies based on financial attractiveness, leading to delays in high-priority cases. This study found that expedited priority class contained the highest percentage of delayed studies.
A Cornell University-led study using the Tetris game found that players who receive fewer turns perceive their partner as less likable, regardless of whether a human or AI allocates the turns. The researchers also discovered that machine allocation behavior can lead to worse performance and gameplay when fairness is not guaranteed.
Researchers found that commercial properties in New York and Boston traded at lower values after Hurricane Sandy, despite no direct damage. This shift in perception is likely due to professional investors responding to changing flood risk perceptions post-Sandy.
Achieving a high fertility cycle in dairy herds involves implementing reproductive management programs, maintaining optimal body condition scores (BCS), and ensuring timely pregnancies. By calving cows at lower BCS between 2.75 and 3.0, dairy farms can reduce health issues and increase fertility rates.
A new study reveals that female leaders are attributed to bad luck when they fail, whereas male leaders' negative outcomes are blamed on their selfish decisions. In a laboratory setting, researchers found biases in the attribution of outcomes that favor women.
Researchers found that disordered thrift shop displays can enhance perceptions of hidden treasure, but risk perceptions outweigh this effect, leading to a net negative impact on purchase likelihood. High inventory knowledge by sellers mitigates these risks, increasing perceptions of curated products and consumer trust.
A team of researchers from the Complexity Science Hub and Central European University created more-detailed poverty maps for Sierra Leone and Uganda, identifying poor areas with greater accuracy. The maps use a combination of survey information, satellite imagery, and social media data to provide a more accurate picture of wealth distr...
A recent study by University of Exeter researchers found that the Bank of England's media coverage plays a significant role in reinforcing accountability. The study analyzed 13,986 articles from major news outlets and discovered that media coverage levels are strongly linked to parliamentary hearings and speeches by central bankers. Th...
Researchers found that forecasters have an incentive to misreport when their reputation is at stake, with higher levels of misreporting in less uncertain situations. The study suggests firms should trust expert advice when uncertainty is high and link evaluations to ex-post accuracy to reduce misreporting.
A new study reveals that households experiencing high inflation are more likely to buy a home due to concerns about future price hikes. The research found that personal experience with inflation is a key driver of home ownership, with those who have lived through high inflation more likely to invest in real estate.
A study by Beth Israel Deaconess Medical Center found that climate change-related natural disasters have increased since 1980 and cost the US over $2 trillion in recovery costs. The analysis suggests that rising CO2 levels and temperatures will lead to more frequent and severe disasters, with exponentially increasing costs.
The study found a significant association between the loss of abortion rights and increased mental distress in females of reproductive age. Restricting access to abortion may disproportionately affect lower socioeconomic status individuals, leading to greater economic and mental health burdens.
A recent study analyzed data from 41,516 refugees and 207,729 Swedish-born individuals to investigate the impact of mental and somatic illnesses on labor market integration. The study found that multimorbidity poses a significant risk for unemployment among young refugees, highlighting the need for targeted public health actions.
Researchers developed an economic-epidemiological model to assess the impact of no closures. The study found that California's unemployment rate would have been lower, but deaths and hospitalizations from COVID-19 would have increased significantly, exacerbating current inequities.
A new study published in PLOS Global Public Health found that factors such as marriage status, age, and education are associated with pregnancy termination in 36 low- and middle-income countries. The study used data from over 1.2 million women aged 15-49 and found that married women, those over 30, and those with higher education were ...
A new study estimates the global economic cost of 29 cancers from 2020 to 2050 to be $25.2 trillion, with significant variations in burden across countries and regions. The study highlights the need for global efforts to address rising cancer burdens.
A study finds that governments could help millions of people and save a lot of money with targeted energy subsidies. The research quantifies the impacts of the energy crisis on households worldwide, revealing that indirect energy costs impose the biggest burden on both high- and low-income countries.
Purdue University has been awarded a $10 million grant from the USDA to improve forest management in the Eastern US. The project, called PERSEUS, aims to provide digital tools and precision management to enhance forest health and promote sustainable forestry practices.
A new economic model estimates the health benefits and budget impact of Fracture Liaison Services, showing significant reductions in fragility fractures, hospital bed days, and social care costs. The model suggests that FLS implementation would lead to improved patient outcomes and cost-effectiveness.
This project aims to identify conditions necessary for abandoning climate-damaging social norms and test their effectiveness on representative samples in different countries. The goal is to find solutions for large-scale sustainable changes in individual and social behavior.
Researchers conducted an experiment with nearly 700 people in three countries to gauge the public's perception of relative risk factors. The results suggest a major health-risk public-communications failure in terms of how behaviors compare in relative risk.
A study found that communities experiencing sudden and significant job losses in manufacturing are less likely to engage in sustainability planning and meet sustainability-related goals. This is attributed to deep-rooted connections between industry and community identity, making it difficult for these communities to transition.
The study examines the impact of climate change and economic sustainability on drinking water management strategies. The integrated assessment framework assesses factors such as water quality, environmental changes, and potential costs to determine performance data and benchmarking.
A new study found that most Americans incorrectly believe they know what constitutes normal/healthy blood pressure, yet are overly confident in their understanding of blood pressure readings. This false confidence may undermine intentions to seek care for stage 1 hypertension.
A comprehensive study found that up to 82 percent of Berlin's vegetable demand could be met locally if all available land was used for urban gardening. Investing in water and human resources would be crucial for this production, with a total investment cost of 753 million euros required.
Researchers developed a new model to predict U.S. recessions and economic slowdowns based on financial statement manipulation. The study found that high levels of potential manipulation in financial statements can improve recession prediction 5 to 8 quarters away.
A new model predicts US recessions and slowdowns by analyzing the aggregate probability of financial misreporting in the economy. The model improves recession prediction by about 25% over existing models, providing regulators with more lead time to prepare for a recession.
Researchers found that consumers pay more when asked to make payment decisions after receiving the product, especially for high-value offerings. Conversely, lower values are paid when decisions are made before receipt. This timing effect can inform businesses and organizations implementing pay-what-you-want pricing mechanisms.
The UT Extension Center for Profitable Agriculture project is studying six niche crops: cut flowers, persimmons, blueberries, elderberries, garlic, and microgreens. The project aims to provide education and outreach to help Tennessee producers make informed decisions about marketing and sales.
A new study reveals that older adults are hesitant to seek emergency care due to financial worries. Among those who may need care, 22% skip the visit altogether. Those in their 50s and early 60s, women, uninsured individuals, low-income households, and those with poor mental health are disproportionately affected.
A new study examined the impact of Medicaid funding cessation on neonatal circumcision rates in California. The research found a significant decrease in circumcision rates, particularly among low-income families, which can exacerbate existing health disparities such as lower rates of sexually transmitted infections. The findings highli...
Researchers tested risk-based decision making in captive gorillas and orangutans, finding evidence of pre-existing cognitive biases that contradict economic rationality. The study highlights the complexity of animal cognition and challenges traditional assumptions about rational decision making.
A University of Queensland study analyzing almost three million chess moves found that wearing a mask reduces the average quality of player decisions due to annoyance caused by the masks. The effect subsides after four to six hours of playing, suggesting mask-wearing impact depends on task type and duration.
A study by researchers at the University of Zurich found that people are reluctant to harm others and upend existing social hierarchies when considering distributive justice. The participants were more willing to reduce inequality but maintained the existing hierarchy, suggesting a complex interplay between conflicting motives.
Researchers identify conditions that reduce the negative effect of acquisitions on consumers' reactions to acquired brands. The study found that perceived loss of a brand's unique values is a key trigger for negative reactions, which can be mitigated by factors like brand age and leadership continuity.
The study found that COVID-19 vaccination in New York City reduced severe outcomes and avoided substantial economic losses. Every dollar invested yielded estimated savings of $10.19 in health costs.
A new study explores how older adults plan for future changes, such as stopping driving or using firearms. The research found that reducing access to potentially dangerous situations should be prompted by declining ability, not age alone. Trusted messengers like family and clinicians can lead conversations around limiting access, and s...
A £1m project aims to develop a biodiversity credit standard to measure and value biodiversity for market trading and investment. The research team will test a potential methodology and assess industry uptake of new innovation.
The studies will provide evidence for a new global approach to valuing natural habitats and evaluate biodiversity in marine and urban areas. They aim to deliver on the recommendations from the Government's Dasgupta Review and support nature recovery and halt biodiversity loss.
Researchers have developed perennial rice that allows farmers to plant once and harvest up to eight times, reducing labor and costs. The crop provides significant environmental benefits, including improved soil quality and reduced greenhouse gas emissions.
A new University of Illinois study reveals that maize prices do not always rise after harvest in Sub-Saharan African markets, with prices falling 16.3% of the time. This uncertainty leads farmers to make decisions based on guesswork, considering storage expenses and risks of spoilage and loss.
New research by Lancaster University and Bocconi University finds that Kenyan parents with access to mass media believe the risk of dying in a terrorist attack is 12 times larger than actual rates. This leads to children being kept out of schools, affecting their education and future earnings.
A new study by the University of California School of Global Policy and Strategy found that credible trade agreements help U.S. firms invest in new export markets during economic downturns. The research suggests that trade agreements can mitigate the impact of a global recession, particularly for industries dependent on exports.
Researchers found that groups using multivoting proved more effective in identifying the best choice, with 50% higher accuracy than plurality and ranked-choice voting. Multivoting allows individuals to allocate votes across options, promoting deeper information processing before discussion.
A new study from the University of Kansas finds that parents from marginalized backgrounds and lower educational attainment make more compromises on school features, resulting in lower satisfaction. The research suggests that these parents are not lacking in understanding what would be best for their children, but rather face constrain...
Researchers discovered two distinct types of regret linked to separate parts of the brain, influencing stress response and mood disorders. Stress-susceptible mice were hypersensitive to one type, while healthy mice were sensitive to another.
Researchers from the University of Tsukuba have found that individual neurons in the neural circuit that processes reward information fire in accordance with prospect theory. The study used rhesus monkeys to perform lottery tasks and recorded neural activity while they completed the tasks, finding that single-neuron activity conformed ...
A study published in Cell Press found that when humans are involved, computer decisions are perceived as fairer. Participants deemed decisions related to positive outcomes fairer than negative ones and had concerns over fairness in systems with higher stakes. The results suggest that automated decision-making systems need careful desig...
The Wasatch Transportation Academy provides community members with knowledge and tools to get involved in transportation decision-making. Key findings include a high degree of satisfaction among participants, who reported increased engagement in various transportation-related activities after taking part in the academy.
A new study examines the role of six brand factors, including price positioning, advertising spending, and distribution breadth, in moderating the impact of business cycles on brand equity. The research finds that premium pricing, market leadership, and extensive distribution contribute to brand equity during economic expansions.
A new study found that decarbonization efforts in Texas significantly reduce air pollution-related health effects, offsetting the cost of these efforts. However, Black and low-income communities still face higher levels of air pollution and related health effects.
A study by the University of Copenhagen found that religiosity significantly affects the risk preferences of small-scale farmers in Ethiopia. Farmers who believe in a higher power are more willing to take risks, with approximately 26% believing God determines their success as farmers.
A budget impact analysis found that catheter-based TAVR is an affordable and effective strategy for treating aortic stenosis patients, with lower total costs compared to surgical SAVR. The study showed that the upfront cost of TAVR is partially offset by reduced healthcare resources, making it a more efficient option.
A new study by Martin-Luther-University Halle-Wittenberg found that using only students in experiments can lead to biased results, as their decisions differ from those of other population groups. The study compared agricultural science students to farmers and found differences in risk-taking, patience, trust, and generosity.
Researchers found that vaccine companies, such as Moderna and Pfizer, experience significant price movements when one company performs well or poorly. Sinopharm is found to be the most affected by market volatility, while AstraZeneca has the greatest influence on Moderna's stock price.
A new study by St. Edward’s University, University of Mississippi, and University of Texas at Austin finds that female executives focus on customer relationships to a greater degree than their male counterparts, leading to more customer-oriented discussions in the C-suite. The researchers examine 389 Fortune 500 firms over six years an...
A new study suggests that prediction markets could improve climate risk forecasts by incentivizing experts to share information. The markets would offer a level playing field for diverse expertise and provide a structured way to distribute research funding, promoting effective altruism.
Researchers found that providing default alternatives and using ordering and partitioning together can improve consumer choice. This study aims to provide a more efficient way for consumers to make better decisions about healthcare products, ultimately improving health outcomes and the efficiency of the healthcare system.