scholarly journals The Benefit of Gratitude: Trait Gratitude Is Associated With Effective Economic Decision-Making in the Ultimatum Game

2021 ◽  
Vol 12 ◽  
Author(s):  
Gewnhi Park ◽  
Charlotte vanOyen-Witvliet ◽  
Jorge A. Barraza ◽  
Benjamin U. Marsh
Keyword(s):  
Ultimatum Game ◽  
Relative Size ◽  
Economic Decision ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Different Types ◽  
Dispositional Gratitude ◽  
Typical Day ◽  
Trait Gratitude

The current research investigated the role of gratitude in economic decisions about offers that vary in fairness yet benefit both parties if accepted. Participants completed a trait/dispositional gratitude measure and then were randomly assigned to recall either an event that made them feel grateful (i.e., induced gratitude condition) or the events of a typical day (i.e., neutral condition). After the gratitude induction task, participants played the ultimatum game (UG), deciding whether to accept or reject fair offers (i.e., proposer: responder ratio $5:5) and unfair offers (i.e., proposer: responder ratios of $9:1, $8:2, or $7:3) from different proposers. Results showed that trait gratitude was positively correlated with respondents’ acceptance of unfair offers. However, experimentally induced momentary gratitude did not influence acceptance of unfair offers. The trait or disposition to be grateful involves the enduring capacity across different types of situations and benefactors to see the good that is present, even when that benefit is small. Accordingly, dispositional gratitude – but not momentarily induced gratitude – was associated with a greater propensity to accept even the small benefits within unfair offers which otherwise pose barriers to making the effective economic decision of accepting offers regardless of their relative size.

scholarly journals The Role of Cognitive and Emotional Perspective Taking in Economic Decision Making in the Ultimatum Game

PLoS ONE ◽  
2014 ◽  
Vol 9 (9) ◽  
pp. e108462 ◽  
Author(s):  
Haruto Takagishi ◽  
Michiko Koizumi ◽  
Takayuki Fujii ◽  
Joanna Schug ◽  
Shinya Kameshima ◽  
...  
Keyword(s):  
Decision Making ◽  
Perspective Taking ◽  
Ultimatum Game ◽  
Economic Decision ◽  
Economic Decision Making

scholarly journals Caring Cooperators and Powerful Punishers: Differential Effects of Induced Care and Power Motivation on Different Types of Economic Decision Making

2017 ◽  
Author(s):  
Gabriele Chierchia ◽  
F. H. Parianen Lesemann ◽  
Dennis Snower ◽  
Mandy Vogel ◽  
Tania Singer
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Related Factor ◽  
Economic Decision ◽  
Power Motivation ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Different Types ◽  
Power Motive ◽  
Theoretical Paradigms

Standard economic theory postulates that decisions are driven by stable context-insensitivepreferences, while motivation psychology suggests they are driven by distinct context-sensitivemotives with distinct evolutionary goals and characteristic psycho-physiological and behavioralpatterns. To link these fields and test how distinct motives could differentially predict different typesof economic decisions, we experimentally induced participants with either a Care or a Power motive,before having them take part in a suite of classic game theoretical paradigms involving monetaryexchange. We show that the Care induction alone raised scores on a latent factor of cooperation-relatedbehaviors, relative to a control condition, while, relative to Care, Power raised scores on a punishment-related factor. These findings argue against context-insensitive stable preferences and theories ofstrong reciprocity and in favor of a motive-based approach to economic decision making: Care andPower motivation have a dissociable fingerprint in shaping either cooperative or punishment behaviors.

scholarly journals In Your Face(t)—Personality Traits Interact With Prototypical Personality Faces in Economic Decision Making

2021 ◽  
Vol 12 ◽  
Author(s):  
Martin Weiß ◽  
Marko Paelecke ◽  
Johannes Hewig
Keyword(s):  
Decision Making ◽  
Social Interactions ◽  
Ultimatum Game ◽  
Trust Game ◽  
Facial Features ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Dispositional Trust ◽  
Potential Interactions

In everyday life, assumptions about our peers' as well as our own personality shape social interactions. We investigated whether self-rated personality and inferences drawn from partners' faces influence economic decisions. Participants (N = 285) played the trust game in the role of the trustor as well as the ultimatum game in the role of the proposer and interacted with trustees and receivers represented by prototypical personality faces. Participants also evaluated both their own traits and the personality of the faces. In the trust game, trustees represented by faces rated higher on agreeableness yielded higher transferred amounts. This effect was more pronounced for trustors low on dispositional trust, whereas trustors high on dispositional trust did not relate their decisions to the faces. Trustees represented by faces rated higher on conscientiousness yielded higher transferred amounts only for trustors high on dispositional anxiety. In the ultimatum game, receivers represented by faces rated higher on conscientiousness yielded lower offers only for proposers high on dispositional assertiveness. These results extend previous findings on the inferences drawn from facial features and the influence of personality on decision making. They highlight the importance of considering the personality of both interaction partner, as well as potential interactions of players' traits.

scholarly journals Happiness and Time Preference: The Effect of Positive Affect in a Random-Assignment Experiment

2011 ◽  
Vol 101 (7) ◽  
pp. 3109-3129 ◽  
Author(s):  
John Ifcher ◽  
Homa Zarghamee
Keyword(s):  
Decision Making ◽  
Positive Affect ◽  
Time Preference ◽  
Random Assignment ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Future Utility ◽  
Neutral Affect

We conduct a random-assignment experiment to investigate whether positive affect impacts time preference, where time preference denotes a preference for present over future utility. Our result indicates that, compared to neutral affect, mild positive affect significantly reduces time preference over money. This result is robust to various specification checks, and alternative interpretations of the result are considered. Our result has implications for the effect of happiness on time preference and the role of emotions in economic decision making, in general. Finally, we reconfirm the ubiquity of time preference and start to explore its determinants. (DJEL D12, D83, I31)

Practitioner's View on the Future of Economic Decision-Making in Project Management

2019 ◽  
Vol 6 (2) ◽  
pp. 33-55
Author(s):  
Brian J. Galli
Keyword(s):  
Decision Making ◽  
Project Management ◽  
Future Trend ◽  
Team Size ◽  
Economic Decision ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
The Future ◽  
Financial Decision ◽  
The Cost

As of now, the best means to plan for the future is project management because it has been proven effective in problem-solving and generating solutions. Few projects entail economic decision-making because of the cost factor, but the wrong decisions can be made because of the complications that come with making economic decisions. However, financial decision-making does not only entail gathering information and making decisions accordingly. The economy must be analyzed and the future economy must be estimated for any economic decisions to be viable. This study highlights the future trend, as well as the significance of economic decision-making within project management. Furthermore, it tests several factors: economic decision-making influence, creativity, risk profile, and the management team size for a successful project. Primarily, this study will assess how significant economic decision-making is in project management.

3 Minority Identities in the Middle East: Ethno-national and Other Minorities

2013 ◽  
Author(s):  
Castellino Joshua ◽  
Cavanaugh Kathleen A
Keyword(s):  
Decision Making ◽  
Saudi Arabia ◽  
Middle East ◽  
Relative Size ◽  
Minority Communities ◽  
Economic Decision ◽  
National Minorities ◽  
Economic Decision Making ◽  
Israeli Arabs ◽  
Religion And Ethnicity

Although religion and ethnicity are the primary categories under which we examine minority communities, this chapter adds three additional categories: majoritarian minorities, political minorities, and trapped minorities. Majoritarian majorities are those who are numerically larger but excluded from sites of power, e.g. the Shi?a in Bahrain. Relative size distinguishes what we refer to as political minorities. Like ‘majoritarian’ groups, political minorities are excluded from power but are also a minority in terms of relative numbers; these include Shi?a in Saudi Arabia and Sunnis in Iran. ‘Trapped’ minorities, distinct from ethno-national minorities, are defined as a segment from a larger group spread across two or more states and marginalized, or as we discuss in the case of Palestinian-Israelis, doubly marginalized, subject to hegemonic control by others within these states and, as such, excluded from access to sociopolitical and economic decision-making institutions. In addition to Israeli Arabs, we include Palestinians, Baluchis, and Kurds in this category.

scholarly journals How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness

2017 ◽  
Vol 07 (03) ◽  
pp. 1750008 ◽  
Author(s):  
Annamaria Lusardi ◽  
Olivia S. Mitchell
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Retirement Planning ◽  
Financial Knowledge ◽  
Objective Measures ◽  
Causal Relationships ◽  
Economic Decision ◽  
American Life ◽  
Economic Decisions ◽  
Economic Decision Making

This paper explores who is financially literate, whether people accurately perceive their own economic decision-making skills, and where these skills come from. Self-assessed and objective measures of financial literacy can be linked to consumers’ efforts to plan for retirement in the American Life Panel, and causal relationships with retirement planning examined by exploiting information about respondent financial knowledge acquired in school. Results show that those with more advanced financial knowledge are those more likely to be retirement-ready.

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