Articles tagged with Economic Decision Making
Research finds that feelings of guilt from keeping everyday consumer behaviors a secret can lead to greater relationship investment. Participants reported engaging in mundane secrets like sneaking pizza or watching ahead on a TV show, which drove them to invest more in their relationships.
Researchers will conduct a national survey to identify barriers to adopting price risk management tools and assess perceptions of tool effectiveness. A free mobile application will be developed to provide information needed for making informed decisions, aiming to improve US beef cattle producers' economic sustainability.
A national survey of 1000 adults in Greenland found that 3 out of 4 support extracting and exporting sand from the melting ice sheet, with most preferring local involvement. The study highlights a rare example of an Arctic Indigenous population wanting to be involved in decision-making about adapting to accelerated Arctic changes.
A new study by the University of British Columbia suggests that BC's ocean contributed around $4.9 billion to provincial GDP in 2015, with marine transport sector making the highest contribution. However, this estimate is likely an underestimate due to excluded ecosystem services and cultural value.
A team at the Complexity Science Hub Vienna mapped an entire nation's supply chain network using mobile phone data, predicting systemic risk and resilience. The model can be easily implemented by other countries and provides a detailed view of national economic behavior on a daily timescale.
A new study published in the CABI Agriculture & Bioscience journal found that women place greater importance on autonomous social relations, while men value financial-related decisions. Psychological well-being is an important resource for both genders, and location plays a significant role in shaping empowerment resources.
A Japanese study reveals that policy disagreement and politicization led to the split of Japan's largest opposition party in 2017. The researchers found that traditional DIF analysis failed to capture the complexity of party positions, but a corrected version showed strong discord over defense policy.
A survey of UK doctors found that the pandemic has led to an increase in willingness to forgo life-saving treatments for very sick patients, while views on euthanasia and assisted dying have remained unchanged. The COVID-19 pandemic has transformed end-of-life care, prompting a reevaluation of clinicians' decision-making processes.
Researchers created a profile of electric vehicle buyers and drivers, highlighting the importance of environmental communities and concern for air quality. The study also emphasizes the need for further research to analyze the association between purchasing an electric car and caring for the environment.
A new study found that girls who spend more time on household chores in childhood are more likely to have limited future employment opportunities. The research suggests that unequal shares of household care work contribute to the gender pay gap, constraining girls' access to better-paid and higher-quality jobs.
Researchers found that immediate government macroeconomic responses had a stabilizing effect on the domestic banking and capital market sectors. The study suggests a strong emphasis on macroeconomic policy moves as the best tool for managing the sector during crises.
A global study involving 60 countries found that individuals across income groups prefer immediate gains, but those in stable economies with lower inequality are less likely to do so. The study also reveals inconsistent decision-making between immediate and future financial options.
Scientists developed a novel multilayer coating to improve the longevity of steel, increasing its lifespan by up to 400 hours. The coating, comprising three layers, was found to provide higher resistance to rust than conventional Zn coatings.
A study published in Implementation Science found that including local economic data in emails to legislators increases engagement, but only for Democrats. The research suggests tailoring communication by political party can also be effective.
Researchers at Portland State University created a two-stage stochastic programming model to optimize e-scooter placement, charging, and rebalancing in Tucson. The model uses data from the City of Tucson to answer questions on demand uncertainty, idle periods, and customer satisfaction.
An international study found that caffeine impacts what shoppers buy and how much they spend when shopping. Caffeinated individuals purchased more non-essential items and spent more money compared to those who drank decaf or water.
A new study by Stanford researchers shows that nature-based solutions, such as conserving marshlands and restoring beaches, can be as effective as concrete seawalls in protecting against sea-level rise. The research found that these solutions provide extra benefits, including opportunities for recreation, climate change mitigation thro...
A University of Maryland study estimates the dollar value of barriers to homeowners participating in cost-sharing programs for stormwater management. The researchers found that features requiring effort from homeowners can significantly reduce the incentive's effectiveness, with some combinations resulting in a mere $1.85/sqft cost sha...
A new theory of decision-making proposes that people often use relative thinking when they should use absolutes, and vice-versa. This theory, developed by Mina Mahmoudi, aims to capture the behavior of boundedly rational decision-makers who struggle with optimal choices.
A study by the University of Texas at Austin found that countries with strong rule of law have less economic volatility and higher productivity. Weak rule of law leads to poor contract enforcement, causing employee morale to suffer, ultimately sparking churn and economic instability.
A recent study by Colorado State University economists and NOAA found that improved wind forecasts result in significant energy savings for consumers. The research shows a net gain of over $150 million in annual savings through better predictions of wind patterns.
Experts advise against routine prostate cancer tests for asymptomatic men due to the test's limited ability to prevent deaths and potential for overdiagnosis. Instead, they recommend using a 'risk checker' tool to explore options with a doctor, emphasizing the need for evidence-based guidance on PSA testing.
A new study from the University of Illinois finds that wine tariffs imposed during trade disputes have substantial economic costs for producers and consumers. The study estimates that the U.S.-EU dispute cost $190 million in lost trade, while the China-Australia dispute cost $149 million annually.
A new study published in the Journal of Marketing finds that requesting customers to rate service professionals first can lead to smaller tips, whereas asking customers to tip first does not influence subsequent rating scores. This research has important implications for firms and managers, suggesting that they should consider asking c...
Researchers found that improved wind forecasts resulted in at least $384 million in energy savings for US consumers over the last decade. The study used NOAA's HRRR model to compare forecast accuracy and quantify cost savings.
A new study by University of Wisconsin-Madison researchers suggests that eliminating air pollution emissions from energy-related activities in the United States would prevent over 50,000 premature deaths each year. The study also found that this action could provide more than $600 billion in benefits annually from avoided illness and d...
Researchers at CSH create the first complete representation of Hungary's economy, mapping production networks and supply relationships. They find that only a few firms pose a substantial risk to the overall economy, with nearly 75% of systemic risk concentrated on just 100 high-risk companies.
Research suggests that immigrants who prefer to stay in host countries develop valuable skills and social contacts, leading to better job prospects and increased economic contribution. Policymakers should consider location preferences and planned migration duration when designing immigration policies to maximize fiscal benefits.
Major sporting events frequently result in cost overruns, as organizers underestimate visitor numbers and hospitality demand. The 2017 World Cycling Championships in Bergen, for example, incurred a €5.8 million deficit due to incorrect visitor projections and hotel bookings.
A study by researchers at Linköping University found that young men with high incomes are most vulnerable to financial nonsense. In contrast, older women with lower incomes are better able to distinguish true from false financial information.
A study by University of Maryland researchers found that urban homeowners are more willing to pay for stream restoration projects, despite lower environmental benefits. In contrast, exurbanites tend to have higher environmental benefits but are less willing to pay.
Girls perform better in English than boys from ages three to seven, leading to a possible explanation for the STEM gender gap in adults. Parents who invest more time teaching math to their children show weaker association with later-life math skills.
A decision-support framework was developed by management science researchers to help clinicians make informed decisions about opioid prescribing. The framework incorporates multiple factors, including recovery time, pain intensity, and patient history, to provide a quantitative model of the prescribing process.
Researchers from Arizona State University developed a study to balance biodiversity goals with limited economic resources in Colombia. The team created a prioritization map that targets conservation actions towards regions where ecological benefits are high and economic impacts are low.
Research suggests top reviews are a key factor in consumer purchasing decisions when comparing products. The study found that concrete details in reviews can sway consumers, and businesses should focus on responding to negative reviews rather than gaming the rating system.
A Washington State University study suggests that a cash transfer proposal would increase poverty among single-mother families and triple the number of children living in deep poverty. The Family Security Act aims to cut child poverty by providing monthly payments, but its effects on single mothers' labor supply and income are uncertain.
A new study from the University of Utah examines the impacts of decentralizing homeless service locations in Salt Lake County, Utah. The research found that people using the relocated resource centers tended to travel less, with visits to community services declining by as much as 40%.
Research suggests that professional investors ignore the performance of terminated fund managers, leading to poor investment decisions. By analyzing the performance data of both retained and fired managers, investment plans can gain a fuller picture and make more informed decisions.
A new study assesses wastewater infrastructure in 129 countries to explore community-wide health indices using Wastewater-based Epidemiology (WBE). The technique detects factors influencing health, including disease biomarkers detectable in wastewater.
Research at the University of Gothenburg found that shipping companies prioritize economic interests over energy efficiency when planning routes, which hampers efforts to reduce carbon emissions. The study highlights the importance of collaboration and decision-makers' choices in achieving sustainable shipping.
Researchers at MIT created a process called DualFair that can remove bias from data used to train machine-learning models. The method tackles both label bias and selection bias, significantly reducing discrimination in loan predictions while maintaining high accuracy.
A review of 1,987 conservation reports found that only 8.8% reported total costs, making it difficult to determine cost-effectiveness and make informed decisions on funding allocation. Standardized cost reporting is crucial for efficient decision-making in biodiversity conservation.
A recent study by Virginia Tech's Shreyans Goenka explores the psychology behind conservative reluctance to accept federal welfare programs. The research shows that conservatives are less likely than liberals to enroll in welfare programs without a work requirement policy, but can be encouraged through targeted marketing messaging.
A new study by Anglia Ruskin University found that AI-powered apps reduced business risks during the pandemic by 3.1%. The use of AI apps was also linked to lower profits (2%) and overall business risk (1.2%). Only 26% of small enterprises are currently using these applications.
A Finnish Institute for Health and Welfare study found that people's ability to lead their lives, strive for important things, and make decisions supporting well-being is linked to manageable life circumstances, financial resources, sense of belonging, equal opportunities, and experiencing meaning. Social security provides faith in the...
A vision for a net-zero Germany in 2050 emphasizes the need for rapid adaptation of the energy system to renewables, as well as technological measures for active CO2 removal and natural sink enhancement. Implementing these measures requires legal, political, economic, and social frameworks.
A new report identifies 10 key facts about global land use, highlighting opportunities for a more sustainable and equitable approach. The study emphasizes the need for policymakers to consider trade-offs and marginalized groups' rights in developing effective solutions.
A new study suggests that implementing primary pandemic prevention actions, such as better surveillance and wildlife management, can reduce the economic costs of emerging infectious diseases by up to 10%. These actions have a substantial co-benefit of preventing carbon dioxide emissions and conserving water supplies.
A study published in Applied Economics analyzed the relationship between precious metal commodities and equity markets, revealing that gold and aluminum are the most desirable metals for investment. The research also found that copper and zinc have the largest spillovers on global equity indices.
A new study suggests that mass customization can generate higher profits and reduce environmental waste considerably when overproduction is a problem. Customers willing to wait for bespoke clothing can make the fashion industry more environmentally sustainable.
A new UC Riverside-led study found that people tire from repetitive questions and tend to give similar answers, leading to unreliable data in surveys. To improve accuracy, researchers suggest using process-tracing and ensemble methods with multiple measurement techniques.
Researchers at Virginia Tech found that people with 'slow' life-history strategies, focusing on future rewards, exhibited positive behaviors and were more likely to be in remission. In contrast, those with 'fast' life-history strategies, prioritizing immediate rewards, faced greater challenges during recovery.
A new report by Berkeley Lab outlines systemic changes needed to advance equity in electric utility regulation. The report recommends considering energy justice goals, allocating funding for low-income households, and accounting for energy inequities in designing electricity rates.
Researchers advocate for an evidence-based approach to resource allocation, reallocating funds from wasteful healthcare activities to support education systems. This shift would address the significant negative impacts of COVID-19 disruptions on health, particularly among disadvantaged groups.
Researchers found that slightly earlier social distancing in communities may have saved up to $132 per resident due to avoided COVID-19 deaths, resulting in significant economic benefits.
Researchers used an SIR model to show COVID-19 convergence in Japan, with growth rates initially high then decreasing as cumulative infected people increase. The study aims to control infections and mitigate economic impact through risk management.
Research by Åbo Akademi University found that companies with more women on their boards tend to make fewer high-risk corporate acquisitions and are more willing to write down goodwill for unsuccessful deals. This suggests that female representation can lead to a more conservative approach to risk-taking and improved financial governance.
New research explores how climate extremes affect the West Coast Dungeness crab fishery and its impact on whale conservation. The study recommends combining improved forecast systems, technological innovations, and understanding human behavior to reduce whale entanglements.
A new paper proposes a means of filtering for candidates who identify with organizational goals and are willing to go the extra mile. Researchers found that those who strongly identified with the organizational goal were willing to expend significantly more effort towards finding ways to reduce carbon emissions.
Research in Japan found a link between financial knowledge, age, and gender, suggesting potential policy targets to improve financial health. While men had higher financial literacy, women reported more sound financial behaviors, indicating that policies may need to focus on supporting women's financial decision-making.