Generous people give in a heartbeat -- new study
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.
Economic Decision Making
Articles tagged with Economic Decision Making
Social repercussions on places declared World Heritage Sites
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.
Running on autopilot: Scientists find important new role for 'daydreaming' network
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.
Without a nudge, old prescribing habits die hard for clinicians
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...
Obama and Trump administrations get opposite environmental assessment results
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.
Management studies: Dishonesty shift
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.
$1.6M from NSF to UC Davis to study water, land use in disadvantaged communities
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...
Chronic lack of sleep increases risk-seeking
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.
University of Toronto professor awarded grant from the Alfred P. Sloan Foundation
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.
The coupling relationship between urbanization and the eco-environment in urban agglomeration
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.
Understanding decisions: The power of combining psychology and economics
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...
Costly curves? Overweight consumers spend more when reminded of thinness
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.
Deep learning and stock trading
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.
Some bed bugs are better climbers than others
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.
Information avoidance
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.
Preferential trade agreements enhance global trade at the expense of its resilience
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.
UAB investigators find repeat cesarean deliveries less cost-effective in low-risk women
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.
Higher pay no enticement to blue-collar politicians, study finds
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.
Economics made simple with physics models
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.
DFG to fund 14 new Collaborative Research Centres
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.
Princeton-led study finds facial impressions driven by our own experiences
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.
New evidence that politics, not economics, drives inequality
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.
Conservation decisions rely on balancing incentives with unpredictable variables
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.
New set of recommendations developed to improve quality of cost-effectiveness analyses
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...
One, two, many: Deciders often shift costs onto large groups without hesitation
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.
Simplify and standardize health insurance plans, advise CMU behavioral economists
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.
Blood sugar slumps affect how lean men treat the more rotund
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.
Trading changes how brain processes selling decisions
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.
Switch from observation only to active treatment by prostate cancer patients varies by race/ethnicity
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.
Biodiversity falls below 'safe levels' globally
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.
Climate tipping points: What do they mean for society?
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.
Researchers look into the brains of music fans
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.
Small brain area plays key role in making everyday decisions
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.
Human nature: Behavioral economists create model of our desire to make sense of it all
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 picture is worth a thousand... Airbnb guests?
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.
Fewer romantic prospects may lead to riskier investments
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.
Report reviews 10 years of shared decision making at Massachusetts General Hospital
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.
Why you may skimp on your Valentine's Day gift
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...
Paper: Homeownership a 'dream deferred' for millennial generation
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.
The secret of scholars who impact policy
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.
Mid-atlantic states present ocean data products
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.
Study finds simple ways to increase participation in EITC
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.
Buried in ash, ancient Salvadoran village shows images of daily life
The village of Ceren shows significant interactions among families and villagers in daily life, challenging traditional top-down societies. Archaeological evidence indicates the villagers had free reign regarding architecture, crop choices, and economics.
Follow your heart as you pursue your career
A new Tel Aviv University study suggests that following one's heart can lead to greater job satisfaction and personal fulfillment. The research found that young people with strong callings are more likely to take risks and achieve success in their chosen fields, regardless of their inherent talent.
UC3M researches simulator of human behavior
The UC3M is investigating a system that replicates human behavior. This technology could be used to predict social crises, create more realistic robots and AI avatars. The project aims to understand individual behavior using experiments with thousands of participants.
Everything you always wanted to know about marketing channels
The article provides a comprehensive overview of marketing channel systems, tracing their evolution from two-party relationships to networks of channels and multiple platforms. Key findings include the impact of globalization, e-commerce technologies, and big data on channel decisions.
Who buys fresh flowers as gifts?
A study by researchers at National Taiwan University found that consumers purchase fresh flowers for gifts primarily due to the economic, social, and expressive values of the flower. The study revealed that financial capability does not influence the likelihood of givers purchasing fresh flowers as gifts.
Teens are not always irrational
A new Duke University study reveals that adolescents aged 10 to 16 can be more analytical in their economic choices than slightly older young adults. Researchers found that teens carefully weigh decisions, using cost-benefit analysis skills, while young adults rely on simple rules.
As US border enforcement increases, Mexican migration patterns shift, new research shows
New research shows that increased US border enforcement alters traditional settlement patterns, leading more Mexican immigrants to settle in states beyond the borders. For every 1,000 additional border patrol agents, a state's share of Mexican immigrants declined by nearly 22 percentage points.
Economic assessment shows e-waste recycling is an industry worth billions
A recent study assesses e-waste recycling's economic potential and finds it worth billions of euros, with potential revenues expected to rise from €2 billion in 2014 to €3.5 billion by 2020. The recycling industry also aims to reduce environmental pollution by conserving virgin resources.
Planning and improvisation actually play well together in export markets
A new study in the Journal of International Marketing found that companies need both planning and improvisation in their export decisions. Improvisation is a prevalent method of decision-making in exporting, but there is no one 'best way' to make effective export decisions.
UT Dallas study delves into regulators' decision-making in bank closures
A new UT Dallas study found that commercial bank regulators consider non-monetary factors, such as property holdings and political pressure, when deciding to close a troubled bank. Regulators resist closing very large and small banks due to potential future costs, while those with significant assets are more likely to remain open.
Machines on the rise: A special issue on artificial intelligence
Recent progress in AI has driven significant advancements in machine learning, language processing, and human-like computer programs. Researchers discuss potential implications for humankind, including challenges to privacy, equality, and the public good.
Researchers propose better way to invest in the SDGs
Gathering data on specific questions is the most effective way to support SDGs, says Keith Shepherd and colleagues. They propose five key principles: replacing targets with measures of return on investment and modeling intervention decisions.
Study: Groundwater from aquifers important factor in food security
A study by researchers at University of Illinois found that groundwater from three major aquifers is crucial for food security, with 91% of embodied water staying within the US. Unsustainable usage threatens domestic food supply and global markets.
View of 'nature as capital' uses economic value to help achieve a sustainable future
A new approach uses economic value to help achieve a sustainable future by valuing nature's ecosystem services. The world's gross domestic product has increased nearly 60 times since the start of the Industrial Revolution, but this growth comes at the expense of natural stewardship.
Shrinking budget? Consumers choose less variety when investing or shopping
A study found that consumers reduce product variety when budgets shrink, prioritizing favorite items over others. This 'budget contraction effect' can lead to riskier investment decisions during economic downturns.
More food, low pollution effort gains traction
A group of scientists, economists, and agriculture experts is working together to develop sustainable farming practices that minimize environmental pollution. The goal is to increase food production while ensuring farmers can make a living and the environment remains healthy.
California's solar incentive program has had only modest impact on adoption rates
A study using agent-based modeling found that providing systems to low-income households at little or no cost would have done more to stimulate rooftop solar system adoption than the current incentive-based approach. Increasing economic benefits and peer influence also showed modest effects on adoption rates.
Overconfidence in new technologies can influence decision-making
Research by University of Missouri professor Chris Robert found that people tend to overestimate the likelihood of new technologies' success, influencing important decisions. This phenomenon, known as the 'technology effect,' is driven by constant exposure to technology and associations with successful outcomes.