Articles tagged with Economic Decision Making
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.
The university is tackling socially relevant topics such as earth's water resources and the effects of regulatory measures on market development with funding from the German Research Foundation. Researchers will examine how institutional and regulatory parameters influence financial market decisions and outcomes.
Researchers found that transcranial alternating current stimulation at 20 Hz increased voluntary risky decision-making, suggesting a link between reward processing and beta oscillatory activity. This discovery provides insights into the neurobiological mechanisms of risky decision-making.
Guilty feelings and shame play a role in reducing bribery, according to SMU economist Danila Serra's research. She found that corruption declines when perpetrators consider social costs of their actions and victims can share information through online reporting systems.
A new study from the University of Chicago Booth School of Business found that people tend to award less compensation for emotional suffering when a small economic loss is present. The researchers suggest that victims should focus on emotional losses, rather than combining them with economic losses, to receive more favorable compensati...
Research at Anglia Ruskin University and Stockholm University links sensitivity to heartbeats with generosity. Participants in a game showed higher generosity when better at detecting heartbeats.
Residents of World Heritage Sites value economic benefits from tourism, but participation in planning can have a negative impact on perception. The study found significant differences between urban and rural communities.
Researchers at the University of Cambridge discovered that the default mode network plays a crucial role in switching to 'autopilot' during familiar tasks. The DMN enables fast and accurate responses by leveraging memory associations, suggesting an essential function beyond mere daydreaming.
Researchers found that two psychological approaches, peer comparison and accountable justification, significantly reduced inappropriate antibiotic prescribing rates. However, when these interventions were removed after a year, some clinicians' bad habits returned, highlighting the need for long-term adoption of nudges to maintain bette...
The Obama and Trump administrations have produced vastly different environmental assessment results related to the Clean Water Act. A systematic protocol for government cost-benefit analyses of proposed regulations is urgently needed to ensure better decision-making on human health and environmental issues.
A new study by Martin G. Kocher and colleagues reveals that groups are more likely to behave unethically than individuals, with honest participants often deciding to misreport in a team setting. The researchers attribute this phenomenon to the exchange of arguments over the validity of honesty norms, which leads to a shift in behavior.
The National Science Foundation has awarded a $1.6M grant to UC Davis to analyze the complex relationships between surface water and groundwater supply, agricultural land use and economic wellbeing of rural, disadvantaged communities. The project aims to provide new insights for other regions facing similar issues and help local commun...
A study by researchers at the University of Zurich found that chronic lack of sleep leads to increased risk-taking behavior in young adults. After sleeping only 5 hours a night for a week, participants displayed significantly riskier behavior, including taking greater financial risks.
Sandro Ambuehl, an assistant professor at the University of Toronto, has received a three-year grant to investigate the impact of nudges on financial decision-making. He will collaborate with Stanford University economist B. Douglas Bernheim on the project.
Researchers analyze coupling relationship between urbanization and eco-environment, finding external elements dominate metabolic structure. This leads to accelerated drop in metabolic emergy intensity and increased environmental load. The study provides quantitative reference points for effective decision-making.
A collaborative effort between psychologists and economists reveals that combining both disciplines leads to better understanding of decisions. The research focuses on individuals' expectations for major life events, such as finding work or having children, and shows that teens are capable of estimating numerical probabilities with acc...
A new study in the Journal of Consumer Research found that exposure to body cues can encourage overweight consumers to overspend. High-body-mass-index consumers were more likely to make indulgent spending decisions after seeing a thin shape.
Researchers used deep learning and machine learning techniques to analyze S&P 500 data, achieving statistically significant and economically substantial returns. The findings challenge the efficient-market hypothesis and suggest AI can excel in times of high volatility.
Researchers found that tropical bed bugs can climb out of smooth-walled traps more effectively than US common bed bugs due to unique adaptations. This discovery has significant implications for monitoring and managing bed bug infestations.
Research reveals that people deliberately avoid information that challenges their beliefs, leading to harm in individual wellbeing and societal polarization. By understanding the reasons behind information avoidance, governments and firms can develop effective strategies to reach their audiences.
A new study reveals that preferential trade agreements can enhance global commodity trade growth, but at the cost of reducing its resilience to economic shocks. The research highlights the need for policymakers to consider both short-term and long-term growth and resilience in their decision-making.
A systematic review from UAB found that elective repeat cesarean deliveries are associated with excess morbidity and cost. The study suggests that women with certain characteristics, such as obesity or a short inter-pregnancy interval, should be carefully screened for trial of labor after cesarean delivery eligibility.
A new study by Duke University found that increasing politicians' pay does not encourage more working-class people to run for office. Research shows that high-paying jobs attract professionals rather than lower-paid individuals, making it difficult for blue-collar workers to break into politics.
Researchers have applied physics models to understand economic systems, but results show that universal features may be the exception rather than the rule. Econophysics has led to discoveries like the inverse cubic law describing stock price fluctuations.
The DFG is establishing 14 new Collaborative Research Centres to investigate topics such as the practices of comparison, neutrinos, dark matter, and the robustness of vision. The CRCs will receive a total of €117.4 million in funding over an initial four-year period.
A Princeton-led study explores how people form impressions from facial appearances, finding that exposure to different faces influences what is perceived as typical and evaluates positively. The results suggest that social meaning is imbued in faces based on their statistical position relative to an individual's learned central tendency.
A new study from Ohio State University found that political factors, particularly presidential administrations, are the primary drivers of rising income inequality in the US. The research used IRS data to analyze economic and political factors contributing to inequality over 33 years.
Researchers examine how large payments are necessary to induce landowners to accept conservation contracts, considering permanent and temporary options. The study reveals that permanent lump-sum payments need to be higher due to 'loss of option value,' while linking carbon payments to profits reduces uncertainty and hesitation.
The Second Panel on Cost-Effectiveness in Health and Medicine developed new recommendations to improve the quality of cost-effectiveness analyses. The key changes include performing analyses from two reference case perspectives and providing an impact inventory to clarify included consequences. These updates aim to promote the continue...
Experimental trials reveal that two-thirds of test persons are insensitive to group size when making decisions. This insensitivity can lead to enormous social costs as politicians and medical practitioners make decisions that benefit a few at the expense of large groups.
Researchers suggest that standardizing health insurance plans could alleviate the psychological and financial stress of choosing a plan, making it easier for consumers to understand their options. The proposal aims to create simple products that are easy to comprehend, reducing costly mistakes.
A study found that lean men who experience low blood sugar are less fair in their economic decision-making, especially when it comes to hiring and salary decisions involving obese individuals. This bias can lead to employment disparities and unfair treatment of corpulent people in the workplace.
Researchers at the University of Chicago found that trading experience reduces emotional pain associated with selling, leading to a decrease in the endowment effect. Brain scans showed reduced activity in areas linked to negative emotions and anticipation of losses.
A new study published in The Journal of Urology found that non-Hispanic black men were more likely than white men to begin active treatment for low-risk prostate cancer, independent of clinical measures. Ethnicity influenced this decision, suggesting a need for greater attention to race/ethnicity in disease management.
A recent study found that biodiversity loss is no longer within the safe limit in most parts of the world. The greatest changes have happened in areas where most people live, affecting physical and psychological wellbeing. Conservation efforts are needed to preserve remaining natural vegetation and restore human-used lands.
Scientists clarify difference between 'tipping point' and 'critical threshold' in climate system, highlighting potential for social tipping elements to trigger economic shocks. Researchers propose research agenda to study social and economic consequences of climatic tipping elements.
A study by the University of Bonn reveals that when participants were given the freedom to set prices themselves, their brains showed increased activation in the lingual gyrus, an area associated with social stimuli. This suggests that social considerations, such as fairness, played a significant role in their decision-making process.
Researchers found that neurons in a small brain area, the orbitofrontal cortex, assign values to options and re-map to make different decisions when circumstances change. This neural circuit is remarkably stable while allowing for flexibility in individual neurons.
Behavioral economists develop theoretical model explaining humans' drive to make sense of lives and worlds, influencing curiosity, boredom, confirmation bias, and decision-making. The model also sheds light on phenomena like political polarization and emotionally charged beliefs.
A study published in Tourism Management found that personal photos of Airbnb hosts are critical to their business success, affecting consumers' decisions and prices. The research suggests that the level of trust inferred from a host's photo has a stronger impact on consumer choice than reputation.
Research shows that people who face uncertain outcomes may prioritize high-risk options even when unrelated to romance. This study found that exposure to unfavorable sex ratios led participants to make riskier financial decisions, such as investing more in a single high-stakes option.
The report from MGH and Partners HealthCare examines the first decade of a Shared Decision Making Program, which aims to match patients with the right treatment at the right time. The program has seen significant increases in patient engagement and clinician confidence, particularly after integrating decision aids into routine care.
New research from the University of Chicago Booth School of Business suggests that people are more likely to opt for inferior gifts if it maximizes overall benefits for themselves and their loved ones. In a series of experiments, researchers found that participants prioritized total benefits over selflessness when making decisions abou...
A new paper finds that millennials still want to own homes but face obstacles like high student loan debt, low credit ratings, and delayed marriage and children. This delay may lead to a more sustainable and financially stable homeownership in the future.
A new study in PNAS suggests that environmental scholars can increase their policy impact by consulting widely with stakeholders during research. Stakeholder engagement is found to be a better predictor of future policy impacts than perceived scientific credibility.
The Mid-Atlantic Regional Council on the Ocean has released a set of analytical data products that will improve the scientific basis for regional ocean decision-making. The data, which include information on marine animal distribution, human use patterns, and ocean features, will help stakeholders make informed management decisions.
A recent study by Carnegie Mellon University found that small changes to tax notices can significantly increase EITC participation. The study showed that making the layout cleaner and displaying the potential credit amount in the headline led to a higher response rate.