scholarly journals Measuring Stereotypes in Music: A Commentary on Susino and Schubert (2019)

2019 ◽  
Vol 14 (1-2) ◽  
pp. 16
Author(s):  
Manuel Anglada-Tort
Keyword(s):  
Behavioral Economics ◽  
Future Research ◽  
Representativeness Heuristic ◽  
Theoretical Account ◽  
Target Paper

In this commentary, I first discuss the strengths of the target paper and provide suggestions for future research. I proceed to point out an important limitation of the target study as well as contribute considerations relevant to measuring stereotypes in music. Finally, I present a novel theoretical account to explain music stereotyping, namely, the representativeness heuristic (Tversky & Kahneman, 1974), which I discuss within the broader framework of the behavioral economics of music.

Conclusion and Implications

2015 ◽  
Author(s):  
Han Smit ◽  
Thras Moraitis
Keyword(s):  
Decision Making ◽  
Behavioral Economics ◽  
Future Research ◽  
Growth Options ◽  
Decision Framework ◽  
Uncertain Environments ◽  
Career Plan ◽  
Common Problems ◽  
Acquisition Strategy ◽  
Competitive Games

This chapter reviews the strategic framework that integrates options and competitive games to de-bias decision making, and recaps the main conclusions and strategy implications. It provides empirical evidence that acquisitions are driven by growth options and behavioral economics, discusses examples of option game applications beyond acquisitions, and lists promising directions for future research. Most important, it provides a decision framework for directly integrating finance and acquisition strategy in uncertain environments. The authors hope that this book helps readers apply an options perspective to significant nonfinancial decisions, including such vital life decisions such as the design of one's education strategy or career plan, or more common problems such how to plan holiday journeys. They believe valuable lessons can be learned as the reader applies the insights in this book to a broader set of uncertainty problems, although they are impossible to quantify.

A Review of Single-Item Internet Auction Literature and a Model for Future Research

2011 ◽  
pp. 3987-4012
Author(s):  
Jeff Baker ◽  
Jaeki Song
Keyword(s):  
Behavioral Economics ◽  
Conceptual Model ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Future Research ◽  
Internet Auction ◽  
Internet Auctions ◽  
Single Item ◽  
Comprehensive List ◽  
Future Work

Internet auctions have received a considerable amount of attention from researchers. We review recent empirical literature pertaining to single-item Internet auctions and observe that existing work has examined the roles of the auctioneer, bidder, and seller in Internet auctions. As this stream of research matures, research will necessarily move from concept discovery and process explanation to theory deepening. As a first step towards synthesis of findings in Internet auctions, we compile a comprehensive list of the various factors that have been examined in empirical studies and note their general impact upon auction outcome. Based upon this extant research, we propose a conceptual model of Internet auctions as a framework for structuring future work into Internet auctions. We then note the existing economic, psychological, sociological, and cognitive theoretical bases for work on Internet auctions. We conclude by highlighting the potential for behavioral economics to bring unity to Internet auction research and by calling researchers to engage in the work of forging a comprehensive theory of Internet auctions.

scholarly journals Unconscious influences on decision making: A critical review

2014 ◽  
Vol 37 (1) ◽  
pp. 1-19 ◽  
Author(s):  
Ben R. Newell ◽  
David R. Shanks
Keyword(s):  
Decision Making ◽  
Social Behavior ◽  
Behavioral Economics ◽  
Cognitive Neuroscience ◽  
Critical Review ◽  
Explanatory Power ◽  
Future Research ◽  
Wide Range ◽  
Cognitive Unconscious

AbstractTo what extent do we know our own minds when making decisions? Variants of this question have preoccupied researchers in a wide range of domains, from mainstream experimental psychology (cognition, perception, social behavior) to cognitive neuroscience and behavioral economics. A pervasive view places a heavy explanatory burden on an intelligent cognitive unconscious, with many theories assigning causally effective roles to unconscious influences. This article presents a novel framework for evaluating these claims and reviews evidence from three major bodies of research in which unconscious factors have been studied: multiple-cue judgment, deliberation without attention, and decisions under uncertainty. Studies of priming (subliminal and primes-to-behavior) and the role of awareness in movement and perception (e.g., timing of willed actions, blindsight) are also given brief consideration. The review highlights that inadequate procedures for assessing awareness, failures to consider artifactual explanations of “landmark” results, and a tendency to uncritically accept conclusions that fit with our intuitions have all contributed to unconscious influences being ascribed inflated and erroneous explanatory power in theories of decision making. The review concludes by recommending that future research should focus on tasks in which participants' attention is diverted away from the experimenter's hypothesis, rather than the highly reflective tasks that are currently often employed.

Using Behavioral Economics to Advance Deterrence Research and Improve Crime Policy: Some Illustrative Experiments

2018 ◽  
Vol 64 (12) ◽  
pp. 1636-1659 ◽  
Author(s):  
Justin T. Pickett
Keyword(s):  
Decision Making ◽  
Behavioral Economics ◽  
Future Research ◽  
Crime Policy ◽  
Perceptions Of Crime ◽  
Situational Perceptions ◽  
Target Characteristics ◽  
Benefits And Costs ◽  
Decision Making Biases ◽  
Research And Policy

Recent experiments show that offender decision making is characterized by the use of cognitive heuristics. Questions remain about what this means for deterrence research and policy. I argue that the primary task is to identify ways to leverage decision-making biases to reduce crime. I outline three avenues for future research on deterrence, and discuss their relevance for crime policy. To illustrate these lines of inquiry and stimulate additional studies, I provide initial experimental results for each topic. I report evidence that (a) pseudocertainty publicity can increase perceived arrest risk and deterrent fear, (b) the availability heuristic can help explain how target characteristics affect situational perceptions of crime benefits and costs, and (c) individuals experience declining sensitivity to increases in sanction severity.

scholarly journals No group differences in Traditional Economics Measures of loss aversion and framing effects in bipolar I disorder

PLoS ONE ◽  
2021 ◽  
Vol 16 (11) ◽  
pp. e0258360
Author(s):  
Zachary Anderson ◽  
Kim Fairley ◽  
Cynthia M. Villanueva ◽  
R. McKell Carter ◽  
June Gruber
Keyword(s):  
Decision Making ◽  
Behavioral Economics ◽  
Loss Aversion ◽  
Framing Effects ◽  
Group Differences ◽  
Future Research ◽  
Bipolar I Disorder ◽  
Decision Making Processes ◽  
Gains And Losses ◽  
Survey Approach

Bipolar disorder (BD) is associated with impaired decision making, yet few studies have adopted paradigms from behavioral economics to decompose which, if any, aspects of decision making may be impacted. This may be particularly relevant for decision-making processes relevant to known difficulties with emotive dysfunction and corresponding reward dysregulation in BD. Participants with bipolar I disorder (BD; n = 44) and non-psychiatric healthy controls (CTL; n = 28) completed three well-validated behavioral economics decision making tasks via a remote-based survey, including loss aversion and framing effects, that examined sensitivity to probabilities and potential gains and losses in monetary and non-monetary domains. Consistent with past work, we found evidence of moderate loss aversion and framing effects across all participants. No group differences were found in any of the measures of loss aversion or framing effects. We report no group differences between bipolar and non-psychiatric groups with respect to loss aversion and framing effects using a remote-based survey approach. These results provide a framework future studies to explore similar tasks in clinical populations and suggest the context and degree to which decision making is altered in BD may be rooted in a more complex cognitive mechanism that warrants future research.

Behavioral perspective of newsvendor ordering decisions: review, analysis and insights

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
S. Yamini
Keyword(s):  
Behavioral Economics ◽  
Operations Management ◽  
Optimal Order ◽  
Future Research ◽  
Design Strategies ◽  
Content Type ◽  
Behavioral Operations ◽  
Behavioral Operations Management ◽  
The Impact ◽  
Behavioral Perspective

PurposeThe traditional newsvendor model has focused on deriving the optimal order quantity that minimises the balance between stocking too much or too less number of products. However, the managers make inventory decisions based on intuitions and shortcuts, which may involve human errors and biases. The effect of cognitive biases and heuristics influencing the inventory ordering decisions in newsvendor settings is highlighted. The advancement of research associated to the newsvendor biases is reviewed to appreciate the behavioral aspects of the minds underlying this process.Design/methodology/approachThe use of experimental and non-experimental methods to investigate the ordering behaviour of newsvendors is described and we present a framework of the existing literature and highlight the research gaps to point to future research possibilities and priorities.FindingsThe proposed framework gives a systematic approach to confirm the existence of a substantial scope of research opportunities and points to specific areas for further research. It synthesizes the existing results of behavioral newsvendor research and will act as a key reference paper. In addition, it will help the practitioners and software tool vendors to comprehend the behavioral perspective of newsvendor preferences and design strategies to mitigate this effect. The insights will be helpful for academicians, researchers and practitioners working in the areas of experimental economics, behavioral economics, behavioral operations, bounded rationality theory, newsvendor modelling and supply chain contracts.Originality/valueA summary of literature in this evolving area of research is very scarce. Considering the impact of behavioral economics on managerial decisions in the contemporary world, it is highly important to have an educational summary which can act as a tool for the practitioners and researchers in the area of behavioral operations management.

The Micro-Foundations of International Relations Theory: Psychology and Behavioral Economics

2017 ◽  
Vol 71 (S1) ◽  
pp. S249-S263 ◽  
Author(s):  
Janice Gross Stein
Keyword(s):  
International Relations ◽  
Behavioral Economics ◽  
Rational Choice ◽  
Decision Makers ◽  
Future Research ◽  
Special Issue ◽  
New Methods ◽  
Psychological Theories ◽  
Patterns Of Behavior ◽  
Micro Foundations

AbstractAlmost forty years ago, a small group of scholars drew on cognitive psychology to explain anomalous patterns of behavior by leaders on issues of international security. Although it made significant contributions to theory and research, that scholarship did not diffuse broadly into the field. Drawing on concepts in psychology and behavioral economics, research that uses new methods is now producing a wave of scholarship in international relations exemplified by the work in this special issue. Analysis of the use of prospect theory over the last three decades identifies the scope conditions that enable the predictions of rational choice and psychological theories. These scope conditions motivate the focus on the heterogeneity of decision makers that is at the core of current contributions. Future research will move beyond the now-sterile debate between rational choice and psychology.

scholarly journals Comparing Self to Peers in Percentile Equivalents during Cognitive Testing: More Accurate Self-Appraisal Estimates are Associated with Greater Ability and Less Reliance on the Representativeness Heuristic

2018 ◽  
Vol 34 (5) ◽  
pp. 690-699
Author(s):  
Johannes Rothlind ◽  
Matthew Kraybill ◽  
Paul Dukarm
Keyword(s):  
Test Performance ◽  
Neuropsychological Functioning ◽  
Neuropsychological Test ◽  
Cognitive Testing ◽  
Future Research ◽  
Self Awareness ◽  
Representativeness Heuristic ◽  
Neurologic Disorders ◽  
Lower Accuracy ◽  
Mixed Pattern

Abstract Objective For individuals with neurologic disorders, self-awareness of cognitive impairment is associated with indicators of better treatment course and clinical outcomes. Lower self-appraisal accuracy has been found to be associated with impairments in neuropsychological test performance, but individuals who perform unusually well may be equally vulnerable to inaccurate self-ratings. The mixed pattern of cognitive strengths and deficits in individuals with neurologic disorders complicates development of formal metrics for assessment of self-awareness. It remains unclear to what extent distortions in self-appraisal represent a deficit associated with impaired cognitive functioning, or a normal reliance on the “representativeness-heuristic” that results in greater bias in self-ratings in both strong and poor performers. Method The present study investigated these hypotheses using a common-metric approach (Rothlind, Dukarm, and Kraybill, 2016). Participants included 199 adults, recruited from community sources, including healthy adult volunteers and individuals at-risk for neuropsychological impairment secondary to human immunodeficiency virus (HIV) positive status or active heavy alcohol consumption or both. Immediately following completion of standardized neuropsychological tests, participants estimated their own performance percentile ranking. Results Both high and low-scoring examinees displayed a conservative bias in ranking their own neuropsychological performance. However, lower scores were associated with least accurate self-appraisals overall. Conclusion Findings suggest that cognitive impairments are associated with lower accuracy in self-rating of cognitive ability, but also that normal biases complicate interpretation of self-appraisal ratings across the spectrum of neuropsychological functioning. The importance of recognizing these biases in clinical research and practice is emphasized, and directions for future research are discussed.

scholarly journals Hope in Economics

2020 ◽  
pp. 165-178
Author(s):  
Emma Pleeging ◽  
Martijn Burger
Keyword(s):  
Behavioral Economics ◽  
Subjective Experience ◽  
Well Being ◽  
Economic Behavior ◽  
Consumer Confidence ◽  
Economic Research ◽  
Future Research ◽  
Valuable Insight ◽  
Self Interest ◽  
The Difference

Abstract As a topic of research in economics, hope has not been very prevalent. Following the neo-classical paradigm, economists have tended to focus on rationality, self-interest, and universals. A normative and subjective experience such as hope was not believed to fit well with this perspective. However, the development of several heterodox economic approaches over the past decades, such as behavioral economics, has led to renewed attention being given to emotion, subjectivity, and normativity. Economic research on concepts related to hope, such as anticipatory feelings, (consumer) confidence, expectations and aspirations has consequently increased. In general, these studies find that hopeful feelings have a strong motivating power for (economic) behavior. By and large, the effects of hope seem to be positive, ranging from longevity and health to innovation and well-being. Nonetheless, there have also been indications that prompt caution, for example when it comes to false hopes, disappointment, or possible manipulation of societal hope. The field of economics has gained much valuable insight from existing research but we argue that it could gain from further definitional clarity. We discuss the difference between hope and related concepts such as optimism, in particular when it comes to economic research, and suggest topics for future research that could benefit from a focus on hope.

scholarly journals Utilizing Behavioral Economics to Understand Adherence to Physical Activity Guidelines Among a Low-Income Urban Community

2015 ◽  
Vol 12 (7) ◽  
pp. 947-953 ◽  
Author(s):  
Kerem Shuval ◽  
Xia Si ◽  
Binh Nguyen ◽  
Tammy Leonard
Keyword(s):  
Physical Activity ◽  
Behavioral Economics ◽  
Low Income ◽  
Urban Community ◽  
Future Orientation ◽  
Time Preferences ◽  
Future Research ◽  
Saving Account ◽  
Time Activity ◽  
Physical Activity Guidelines

Background:Behavioral economics studies have found that individuals with more patient time preferences (ie, greater willingness to forgo current costs for future benefits) are more likely to save money. Although research has observed significant relationships between time preferences and health-promoting behaviors, scant evidence exists with physical activity as an outcome.Methods:We examined the association between monetary saving behaviors and physical activity among adults of low-income who reside in an urban community. Specifically, we assessed the relationship between saving behaviors (checking/saving account, monthly savings, and planning family finances), and future orientation to physical activity as a dichotomous (meeting guidelines) and continuous (total and domain specific) endpoint.Results:In multivariable regression, being future-oriented and having a checking/saving account were related to a 1.3 and 2.1 times higher (respectively) likelihood of meeting physical activity guidelines (P < .05). When examining physical activity continuously, all measures were significantly related to leisure-time activity (P < .05).Conclusions:Our study findings establish a relationship between future time preferences and increased levels of physical activity among low-income adults. Future research should prospectively explore the efficacy of various schemes that help individuals overcome impatient time preferences to determine a causal relationship.

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