Articles tagged with Economic Decision Making
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.
A recent study mapping child deaths over two decades finds that nearly half of the 5.4 million under-5 deaths in 2017 were due to differences between countries and districts. The research, conducted by the Institute for Health Metrics and Evaluation, highlights health disparities within countries and regions.
A new study found that excessive athletic training can lead to mental fatigue, including reduced activity in a portion of the brain important for making decisions. The athletes also acted more impulsively, opting for immediate rewards instead of bigger ones that would take longer to achieve.
A recent study by Robert Hofmann and colleagues discovered that Tripolye mega-structures served as public spaces for ritual, economic, and decision-making purposes. The researchers found a hierarchy of mega-structures based on their architecture and location, indicating sequential decision-making at various levels of society.
A new study estimates that human decisions and actions can reduce the uncertainty in climate response, limiting economic impacts to under 1% of global GDP. The research suggests humanity has control over its future and can choose a path through its actions.
A study published in Health Economics found that orthopaedic surgeons are less likely to schedule surgeries for patients who meet them at the end of their shift. This suggests that decision fatigue affects medical decision-making, leading doctors to rely on simplistic processes and avoid big decisions when tired.
A new study published in PLOS ONE found that a two-thirds increase in returning coho salmon to the Oregon coast would generate up to $518 million in annual non-market economic benefits. The study also found that people value conservation goals sooner rather than later, with up to $277 million in annual benefits.
A new study reveals ocean temperature 'surprises' are becoming more common, disrupting natural and human communities. The research found nearly double the expected rate of warming events globally, with significant impacts on marine ecosystems and decision-making strategies for ocean resource management.
Current fisheries management methods fail to rebuild many fish stocks with a 55% average recovery rate. Robotics-based approaches can achieve higher recovery rates and increased economic returns.
A new study from the Institute for Health Metrics and Evaluation finds that only Guinea-Bissau, Rwanda, and São Tomé and Príncipe are on track to meet the WHO's exclusive breastfeeding goal by 2025. With optimal breastfeeding practices, over 800,000 child deaths could be averted annually.
A study published in Social Psychological and Personality Science found that individuals who overclaim their knowledge are more likely to vote against the establishment, with a 1.62 times higher likelihood for radical right voters. However, increased actual knowledge decreases this likelihood by 0.85 measurement points.
A new study by RAND Corporation finds that parents who help unemployed adult children offset costs by adjusting their behavior, such as spending less on food and working more. This decision may result in financial detriment for the parent, highlighting the economic impact of such decisions.
A new project at the University of Exeter aims to discover how economics can help protect the environment by placing an economic value on biodiversity. The project will develop trading platforms to advance price measurements of biodiversity and provide individuals and businesses with access to conservation solutions in various countries.
A new study from the University of Notre Dame reveals that price-based incentives, such as discounts, can reduce subscription renewals in the long term. Consumers may perceive a discount as a loss rather than a reward, ultimately decreasing their likelihood of re-subscribing.
Researchers developed a method that enables neural networks to identify similar objects in videos without accuracy degradation. The new algorithm reduces the time for recognition by 1.5 to 10 times, making it suitable for mobile devices and other gadgets.
Researchers will develop an integrated database of socioeconomic and financial data to create an index identifying a community's ability to pay for loans. The framework aims to prioritize drinking water and wastewater infrastructure projects and provide policy options to support economically stressed communities.
The American Marketing Association honored research on how mindfulness helps consumers make decisions more consistently with their values and preferences. The winning article, published in the Journal of Public Policy & Marketing, suggests that a mindfulness approach can be used to self-regulate choices.
A recent study by North Carolina State University estimates that US government spending on military personnel improves the American workforce, with a positive impact of $89.8 billion on the economy in 2019. This improvement is attributed to human capital investments made by the military through personnel training and education efforts.
A new study found substantial variation in vaccine coverage within countries, with some areas having less than 25% coverage. The study provides insights for nations' health ministers to identify where to improve vaccine delivery systems and tailor strategies to reach unvaccinated children.
A study by Portland State University found that people who expose tax fraud often do so as revenge disguised as a moral obligation. Whistleblowers reported being motivated by financial gain, but also justified their actions as a moral duty to report others.
A team of researchers developed an interactive program using trade-off diagrams to support decision-making in complex scenarios. The tool allows for compromises and balancing of competing interests, increasing decision quality with contextual information. However, interactivity also improves decision-making, but to a lesser extent.
A new study examines individuals' willingness to adopt algorithms in decision-making contexts, revealing the importance of cognitive perceptions. Participants with low situational awareness were found to be more likely to delegate decisions to an AI algorithm.
A Carnegie Mellon University study found that bribery works because people are motivated by greed, not the desire to reciprocate. When incentives are contingent on choices, bribes distort judgment more. However, when bribes don't influence outcomes, their effectiveness is reduced.
A study by the University of Bonn shows that growing income uncertainty among private households can lead to an economic downturn. This is because households may hoard money, reducing demand and negatively impacting the economy. Government investments can stabilize the economy by making it more attractive for households to spend.
The AFLEET Tool and its online version enable fleet managers to compare the costs and benefits of alternative fuels and vehicle technologies, optimizing their purchasing decisions. With over 8,000 users, the tool is based on Argonne's GREET model and provides a comprehensive and easier way to make informed decisions.
Researchers from the University of Zurich found that nudging's effectiveness depends on a person's underlying decision-making process. The study suggests that certain behavioral models can improve decisions through nudging, such as the limited attention model.
A study published in JNeurosci found that one night of sleep loss increases the desire for junk foods, as measured by brain activity and hormone levels. The researchers suggest that a lack of sleep can promote overeating and obesity risk through increased food desirability.
The International Osteoporosis Foundation and the European Society for Clinical and Economic Aspects of Osteoporosis, Osteoarthritis and Musculoskeletal Diseases established recommendations for economic evaluations in osteoporosis. These guidelines aim to improve transparency and methodologic standards, promoting high-quality methodolo...
A recent study found that higher unemployment rates are associated with a lower likelihood of unintended pregnancies among US women. Women with both high and low education experienced declines in unintended pregnancies as unemployment rates rose, particularly those with less than a high school degree.
A team of researchers identified potential decisions that maximize combined ecological and economic benefits by simulating trade-offs and using machine-learning approach. They found opportunities to improve balance between certain criteria by coordinating multiple dam decisions at larger spatial scales.
A new tool, Multicriteria Decision Aiding methodology, helps decision makers structure and aggregate complex information for social housing initiatives. The method, based on Analytical Hierarchy Process and Non-Additive Robust Ordinal Regression, provides a transparent and explainable outcome.
A new tool, Recovery Explorer, was developed to help conservation scientists make informed decisions on how to allocate limited funds for species recovery. The tool evaluates potential consequences of alternative resource allocation strategies and allows decision makers to examine alternative approaches.
Research reveals that high stakes decision-making can transform employee behavior, leading to more cheating and less charity. Employees who exhibit virtuousness may become more self-serving over time.
A new study by Prof. Hyuncheol Bryant Kim and colleagues found that education can enhance an individual's economic decision-making quality. The research team conducted a randomized controlled trial in Malawi and found that those who received education support had higher scores of economic rationality.
A new study led by Hyuncheol Bryant Kim found that education can enhance an individual's economic decision-making quality. The randomized controlled trial of education support in Malawi showed that those who participated had higher scores of economic rationality, suggesting improved decision-making abilities.
A Malawian study shows that education can enhance an individual's ability to make smart economic decisions. The research found that educational interventions improved not only school attendance and test scores but also economic rationality in students who received enhanced education.
The ESMERALDA MAES Explorer is an online tool that helps EU member states map and assess ecosystems and their services. The platform provides practical guidance to policymakers, scientists, and businesses on implementing ecosystem services mapping.
A research team led by the University of Nevada, Reno will investigate how changes in mountain snowpack affect available water and agricultural production in the West. The project aims to inform decision-makers on adapting to long-term changes in runoff timing and develop more effective water management practices.
The study found that Minimum Legal Drinking Age (MLDA) laws reduce binge drinking and risky behaviors such as drunk driving, sexual activities, violence, and interpersonal problems. The analysis suggests a need to reevaluate the MLDA to determine its optimal age.
A new study found that when people don't have much time to make a decision, they tend to rely on their existing bias towards being selfish or pro-social. However, when given more time, participants are more likely to override their bias and choose a more altruistic option.
Researchers found that parrots make deliberate, profit-maximizing decisions, prioritizing higher-value food over immediate rewards. However, individual motivation plays a role, with some birds valuing the token itself over economic gain.
Researchers found two polar strategies among organizations - generic and smart - with smart firms boosting development in all areas. Companies with above-average intellectual resources outperform those in the generics category regarding productivity and economic value added.
A study by University of Bonn researchers found that the 'anterior insular' brain region is more active in risk-averse individuals and less active in experienced stock traders. Risk optimism and tolerance also play a significant role in stock purchase decisions.
A study by Ohio State University researchers found that people make more efficient decisions when they consider the long-term consequences and maximize overall value for the group. By creating psychological distance from a decision, individuals can see beyond immediate considerations and allocate resources effectively.
A study by Isabelle Côté and Emily Darling found that scientists with fewer than 1,000 followers primarily reach other scientists, while those with more followers have a broader range of non-scientific followers. This suggests that Twitter can be an effective tool for increasing scientific outreach, but its impact depends on various fa...
A new strategy prioritizes core habitat areas, corridors linking them, and hotspots for human-lion conflict to inform lion conservation actions in southern Africa. The study identified nine key dispersal areas and 27 potential hotspots for human-wildlife conflict, guiding conservation efforts.
A new study presents a strategy for FY-3 microwave humidity sounders and radiation imager assimilation in the Met Office NWP model, significantly improving forecast error reduction. Operational monitoring allows rapid detection of data anomalies, which are fed back to China Meteorological Administration for investigation and remedy.
Researchers found that official inflation indexes, such as CPI and PCE, may overestimate or underestimate the true inflation rate due to errors in housing rent assessments. The alternative method suggests an error range of 1.7-4.2% during the Great Recession and 0.3-0.9% during the current expansionary period.
A new study from Johns Hopkins University finds that increasing rents and declining employment rates disproportionately affected young black adults, causing them to stay with their parents longer. In contrast, white young adults were more likely to delay moving out due to job insecurity.
A £1 million toolkit will help cities and developers accurately assess the benefits of green infrastructure, supporting recreation, community events, and wildlife. The project aims to provide a practical decision-making tool for land owners and managers, protecting existing provision and promoting high-quality green space.
A study by the University of Toronto Rotman School of Management found that low confidence can lead to selfish behavior, but also increased generosity when public choices are made. In contrast, high confidence participants tend to be more generous in their choices.
A mathematical economist has developed conceptual models to describe economic decisions for long-term flood protection strategies. The study highlights the importance of central government investment in infrastructure and private sector responsibility, with calculations showing that government investment is better than direct subsidies.
Researchers analyzed 667 hunt management systems across US and Canadian states, identifying hallmarks of science-based management such as clear objectives, evidence use, transparency, and external review. However, only 60% of these systems met these criteria, casting doubt on the science-based nature of North American wildlife management.
The partnership aims to develop decision-making tools based on satellite observations of Earth, which can be used worldwide. Conservation International is working with governments and stakeholders to implement policies that preserve natural resources along the Mekong River.
Mathematicians at National Research University Higher School of Economics have found a link between earthquakes and currency jumps, using the Japanese ETAS approach. This method predicts financial risks with 40% accuracy, comparable to traditional econometric models.
A new study proposes a North American Methane Reduction Framework to integrate public and private research and mitigation policies in the US, Canada, and Mexico. The researchers suggest that estimating emissions consistently across U.S. jurisdictions can help achieve the goal of reducing methane emissions from oil and gas sectors by 2025.
A global map of travel time to cities has been published by the European Commission Joint Research Centre, showing that over 80% of people live within one hour of a city. However, accessibility is not equally distributed across development spectrum, with lower-income countries in sub-Saharan Africa having limited access.