Articles tagged with Economic Decision Making
QUT researchers developed a new mathematical model to enable faster solutions for complicated problems in agriculture, ecology and medicine. The method improves how to determine the 'best' intervention strategies, balancing benefits and side effects, and can be applied to farming practices and chemotherapy.
A study using nationwide mobility data in China examined extreme fluctuations in population movements during the Lunar New Year travel season and COVID-19 lockdowns. The results showed that high-tier prefectures retained stable clusters, while low-tier prefectures had larger population flows to these areas.
A new study from Ohio State University found that pricing just below a round number can lead consumers to perceive a product as cheaper and less likely to upgrade. This threshold-crossing effect was observed in various experiments, including coffee stands and car purchases.
New research published in PNAS suggests that community-based monitoring can improve water management in rural Costa Rica by reducing groundwater extraction and improving water quality. The program, which used a smartphone application and WhatsApp, showed modest but significant effects after one year.
Researchers developed predictive models to estimate yogurt spoilage caused by yeast, including the effect of bioprotective cultures. The models were validated with actual data from a European dairy and can help yogurt producers make informed decisions to reduce economic losses due to food waste.
Consumers are seeking products with local origin, traditional designs, and reminders of their childhood and family. Groundedness increases product attractiveness and consumers' willingness to pay. Products providing a sense of groundedness improve self-perceptions related to resilience and feelings of strength and stability.
A recent study found that people willingly share monetary gains with others and dislike inequality, yet behave selfishly in large group decisions. In the Big Robber Game, over half of participants took the maximum amount from their group, while displaying prosocial behavior in small, bilateral games.
Researchers analyzed country-level health systems capacity and socioeconomic characteristics to understand delays in implementing COVID-19 non-pharmaceutical interventions. Lockdowns significantly reduced physical mobility, while national school closures had no significant impact.
A strategic toolkit has been developed to help manage the nexus between water, energy, food and ecosystems, reducing disputes in catchment areas. The DAFNE methodology uses state-of-the-art modeling techniques to enable participatory planning and engage stakeholders, finding compromises and synergies that benefit everyone.
The University of Minnesota has developed a new tool to help farmers make informed crop input decisions, balancing economic and environmental costs. The tool uses machine-learning-based metamodels to predict nitrogen reduction scenarios and identify hotspots for mitigation, while also considering regenerative practices like cover cropp...
Researchers found that men are more likely to exhibit extreme behaviors in various areas, such as altruism, trust, fairness, and risk-taking. The study suggests that policies aimed at regulating these behaviors should be tailored towards men.
A new study found that nearly a quarter of international students make their decision to stay or go before arriving in Canada, while the majority wait until after experiencing life here. Students cited family ties, employment opportunities, and feelings of isolation as key factors shaping their decisions.
A new study reveals that people often forget their preferred options and choose less-preferred ones due to imperfect memories. Researchers used fMRI scans and decision-making experiments to understand how memory impacts decisions.
A study by University of Cambridge researchers found that credit officers are less likely to approve loan applications at midday, resulting in missed opportunities for customers and financial losses for the bank. The study suggests that regular breaks during working hours can improve performance and productivity.
Research from Lancaster University Management School found that potentially polluting firms choose locations based on local income demographics, leading to higher toxic releases in poorer areas. Firms reduce pollutant releases and increase waste management spending in higher-income areas.
A new study reveals that regional water scarcity has far-reaching impacts on the global economy, with changes in global demand affecting river basins worldwide. The research found positive and negative economic outcomes in every region considered, depending on factors like water supply and agricultural production.
A recent study found that partisan politics, religious fundamentalism, and economic threat affect local decisions about the death penalty. The study also discovered that the size of African American populations was not directly associated with the decline in death penalty use since the 1990s.
Researchers call for more inclusive analysis of public health interventions, considering broader impacts on education, criminal justice, housing, consumption, and the environment. Existing evidence shows poorer socio-economic individuals and those with underlying health conditions are at higher risk of contracting COVID-19.
A recent study by University of Texas at Dallas researchers investigates the role of recommender systems in e-commerce platforms. The study finds that while these systems increase sales and introduce consumers to new products, they can also cause sellers to decrease prices and reduce their advertising efforts.
Researchers studied ash from volcanic eruptions, discovering premature sedimentation and the rafting effect. These findings will refine forecasting models used by VAACs to predict volcanic ash clouds' impact on aircraft routes.
A University of Maryland study reveals that consumers tend to buy less fuel-efficient cars for their second vehicle after purchasing an eco-friendly vehicle, reducing the benefits of driving a fuel-efficient car. The study's findings have implications for carbon emissions and the design of programs like Cash-for-Clunkers.
A research project led by Albert Banal-Estanol and Massimo Motta aims to analyze the factors that determine a company's market power and their impact on consumers. The study also explores regulatory interventions in areas of consumer protection, product safety, and digital markets.
Research from the University of Kent reveals a decline in son preference among Bangladeshi women, driven by increased female education and employment. Despite stated desires for gender balance, actual fertility decisions continue to be shaped by son preference, with women more likely to have additional children if they lack sons.
A study by MIT researchers suggests that industrial parks in China with strong political connections underperform their counterparts, leading to a 5.2% decrease in GDP per capita. The research found that about a quarter of provincial-level party secretaries have ties to city-level party secretaries, influencing economic decisions.
A RUDN University mathematician introduced a matrix representation of set functions to simplify cooperative game theory calculations. This approach can be applied to multicriteria decision analysis, group decision-making, and economic theories based on cooperative games.
A study led by George Mason University Assistant Professor Blake Silver explores how 80 college students navigate daily life amidst economic uncertainty. The research focuses on the intersection of race, class, and gender in shaping experiences with managing uncertainty.
A new study suggests that implementing social distancing measures in the US two weeks sooner could have prevented over a million cases and saved over 59,000 lives. The study's results highlight the importance of quick and aggressive non-pharmaceutical interventions to counter COVID-19 transmission.
Research shows that low-income families are forced to choose safest locations for immediate survival rather than taking time to find neighborhoods with great schools and job opportunities. Policymakers must reconsider assumptions about how families decide where to live and send their children to school.
Christine Constantinople aims to understand aversion to loss in economic decision-making under new NIH grant, with potential implications for education and related fields. Her research will focus on neural mechanisms underlying loss aversion, including arithmetic calculations.
A study by West Virginia University economists found that Pearl Jam's 'Home Shows' drove significant economic growth in Seattle, including a $58 million increase in hotel revenue and a 90% occupancy rate. The concerts were deemed ideal for attracting tourists due to their unique timing and fanbase.
A global assessment maps the spatial relationship between people and forests, revealing an estimated 1.6 billion individuals live near forests. The study highlights that many of these people do not rely on forest resources for their livelihoods.
A team of researchers at North Carolina State University is developing a computational model to ensure accurate and timely distribution of COVID-19 test kits. The model will be used to address key questions related to COVID-19 testing, including optimal allocation plans for hospitals, clinics, and state agencies.
Researchers found that households in states with Medicaid expansion increased purchase of diet soda and bottled water but showed no change in regular soda consumption. The study suggests a spillover effect of the program promoting healthier dietary choices.
A new study from Stanford University proposes that the brain was constructed over evolutionary history to make high-stakes decisions with a bias towards pessimism. This perspective challenges traditional economic models, which assume humans act rationally and weigh probabilities to maximize personal gain.
Researchers created a musical ensemble of violinists to study human network dynamics. They found that humans can change their inner structure to reach better solutions, exhibiting unique characteristics like flexibility and filtering inputs.
New research from Binghamton University found that citizens prioritize teacher and administrative staff over other spending cuts during economic crises. The study discovered that gender, age, income, party identification, and political ideology significantly influence public attitudes towards different forms of school budget cuts.
A study by GEOMAR Helmholtz Centre for Ocean Research Kiel predicts North Atlantic surface temperature variations several years into the future using wind field analysis. The researchers suggest a mechanism where winds cause changes in ocean circulation, resulting in anomalous heat accumulation and warming of the eastern North Atlantic.
Researchers at the University of Tsukuba found that dopamine neurons represent different parts of the decision-making process, including both evaluation and choice. The study suggests that these neurons send decision signals to other brain areas, ultimately influencing muscle action and informing choices in everyday life.
A new study from the University of Bath and LSE found that realists experience the highest long-term happiness compared to optimists. The research suggests that making decisions based on accurate expectations can lead to better outcomes and increased well-being.
The increasing use of machine learning systems in public policy raises concerns about accountability, bias, and transparency. Explaining complex algorithms can reveal conflicting aims and implicit trade-offs in policy decisions.
A national survey of recent college graduates with and without disabilities reveals that 90% of each group are employed after graduation. Engaging in internships, paid employment, and career counseling services correlates positively with working after graduation for all graduates.
A new research-based framework helps companies balance economic and sustainability factors when producing biochemicals. The framework assesses the true sustainability of biochemicals by combining economic and environmental impacts into a monetary single score.
A study by Carnegie Mellon University found that social networks actually worsen decision-making in emergency situations, leading to delayed evacuations and the spread of misinformation. The research suggests that communication within groups does not improve decision-making as expected.
A new study by Carnegie Mellon University researchers found that newspapers provide less coverage of car safety recalls issued by manufacturers that advertise more regularly, especially those with severe defects. This supply-side bias due to advertising revenue may be dangerous for consumers.
A Nebraska researcher has developed a smartphone app that uses location and Bluetooth data to track users' physical proximity and notify those potentially exposed to COVID-19. The system provides personalized risk data and insights for individuals making decisions about balancing health and economic risks.
A new study published in The Review of Economic Studies found that using a coin toss to decide on an important change leads to higher satisfaction and happiness. People who made changes were more likely to report the same decision again in the future.
Researchers aim to identify how social media influences consumer behavior during red tide events, which had a negative impact on humans and marine life. The study will analyze data from 80 different sectors and explore the role of social media in shaping economic decisions.
A new study reveals that heavy drinking leads to reduced ability to switch attention, update information, and maintain focus on set goals. This impairment has significant economic and daily life implications, particularly in tasks requiring planning and productivity.
Researchers at the University of Malaga have developed a new global prediction model for sudden stops of capital flows using decision trees. The model identifies key economic factors that predict this event in both emerging and developed countries, allowing for early detection and prevention.
Researchers from the University of Córdoba have developed a methodology to assess restaurant food waste and select the best valorization path. The study identifies that food waste can be turned into various valuable products, including biodiesel, electricity, and bioplastic, which could help industries within the circular economy.
A new study from the University of Eastern Finland reveals that cross-border regions often struggle to achieve concrete outcomes in cooperation. Despite local decision-makers' support for integration, innovation cooperation remains sparse in many regions, including Cascadia and European border areas.
Psychologists from the University of Basel found that people focus their attention on the two most promising options when choosing between multiple alternatives. This leads to faster decisions and improved efficiency. The study's results propose a mathematical model describing dynamic interactions of preference formation and eye moveme...
The Helsinki Declaration emphasizes the need for a multidisciplinary approach to protect human health and the environment. Key findings include the importance of social justice, long-term goals, and scientific knowledge in addressing planetary health threats.
Researchers found that subseasonal forecasts can provide significant economic value for agribusiness players, allowing them to adjust purchase times or adopt adaptation strategies. The potential forecast economic value is around 60% for two-week forecasts, increasing to up to 20% for six-week forecasts.
A new study at Penn State found that incremental improvements made by businesses outside of their firm are crucial for economic growth and employment. The 'latent' innovation index assigns scores to counties based on opportunities for improvement, showing that rural areas can foster innovation too.
A new perspective piece challenges standard economic theory by highlighting individual trajectories over time. People's behavior often deviates from classical recommendations due to a lack of understanding of unique wealth evolution.
Civil engineers create a sustainability-based optimization algorithm to help policymakers make informed decisions on projects like bridges, school roofs and waterfront developments. The algorithm considers the costs of a project over its lifetime and externalized costs, providing a more comprehensive view.
A new study found that consumers are more likely to reject time-limited offers when faced with high pressure, indicating a strong risk aversion. The research suggests that firms can benefit from making such offers by limiting consumer comparison with market prices.
A team from ISGlobal developed a new statistical climate model that can predict El Niño episodes up to two-and-a-half years in advance, improving long-term forecasts. The model uses sea temperatures and winds in the tropical Pacific as predictor variables.
The Supplemental Nutrition Assistance Program (SNAP) addresses the right to food by providing targeted assistance to low-income households and expanding automatically in response to changes in need. SNAP achieves a right to food through its entitlement program, access to food nationwide, and respect for participants' dignity and autonomy.