Experience Effects in Finance: Foundations, Applications, and Future Directions

2021 ◽  
Vol 25 (5) ◽  
pp. 1339-1363
Author(s):  
Ulrike Malmendier
Keyword(s):  
Stock Market ◽  
Future Research ◽  
International Capital ◽  
Future Directions ◽  
Recency Effects ◽  
Experience Based Learning ◽  
Experience Effects ◽  
Trade Dynamics ◽  
Past Experiences ◽  
Stock Market Investment

Abstract This article establishes four key findings of the growing literature on experience effects in finance: (i) the long-lasting imprint of past experiences on beliefs and risk taking; (ii) recency effects; (iii) the domain-specificity of experience effects; and (iv) imperviousness to information that is not experience-based. I first discuss the neuroscientific foundations of experience-based learning and sketch a simple model of its role in the stock market based on Malmendier et al. (2020a, b). I then distill the empirical findings on experience effects in stock-market investment, trade dynamics, and international capital flows, highlighting these four key features. Finally, I contrast models of belief formation that rely on “learned information” with models accounting for the neuroscience evidence on synaptic tagging and memory formation, and provide directions for future research.

Exposure, Experience, and Expertise: Why Personal Histories Matter in Economics

2021 ◽  
Author(s):  
Ulrike Malmendier
Keyword(s):  
Decision Making ◽  
Neural Plasticity ◽  
Future Research ◽  
Individual Level ◽  
Neural Connections ◽  
Economic Decision Making ◽  
Wide Range ◽  
Personal Experiences ◽  
Experience Effects ◽  
Past Experiences

Abstract Personal experiences of economic outcomes, from global financial crises to individual-level job losses, can shape individual beliefs, risk attitudes, and choices for years to come. A growing literature on experience effects shows that individuals act as if past outcomes that they experienced were overly likely to occur again, even if they are fully informed about the actual likelihood. This reaction to past experiences is long-lasting though it decays over time as individuals accumulate new experiences. Modern brain science helps understand these processes. Evidence on neural plasticity reveals that personal experiences and learning alter the strength of neural connections and fine-tune the brain structure to those past experiences (“use-dependent brain”). I show that experience effects help understand belief formation and decision-making in a wide range of economic applications, including inflation, home purchases, mortgage choices, and consumption expenditures. I argue that experience-based learning is broadly applicable to economic decision-making and discuss topics for future research in education, health, race, and gender economics.

Mix Networks: Existing Scenarios and Future Directions on Security and Privacy

2019 ◽  
Vol 14 ◽  
Author(s):  
Khaleel Ahmad ◽  
Afsar Kamal
Keyword(s):  
Security And Privacy ◽  
Research Progress ◽  
Future Research ◽  
Future Directions ◽  
Practical Solution ◽  
Research Gap ◽  
The Web ◽  
Privacy Enhancing Techniques

Background: Privacy enhancing techniques are developed in order to provide strong protection to cyberspace. These techniques aim to allow users to keep their identities hidden during the communication when they are sending email, making payments online, browsing the Web or posting to newsgroups. MixNet is the most practical solution for concealing identities of message and sender’s identities. Objective: It provides sender and receiver anonymity as well as message security. The main goal of MixNet is to overcome vulnerability and enhance the performance of communication. It can efficiently handle the messages of various length and produce desirable results with privacy. The main objective of this paper is to acquire information and concepts regarding MixNet. We also provide guidelines for future research and references. Methods : The designing of MixNet depends on what cryptosystem method is used. Symmetric and Asymmetric both are used. Other methods could be also used such as PIR, CSP and FDR model, RPC, Token-based approach or others. Result: In this paper we provide an overview of MixNet approaches and presented a survey on MixNet based techniques and different models. We also constructed the comparison tables as per our requirements for better understanding. For this purpose, we found a total of 120 articles related to the MixNet published between 1990 and 2018 from the most relevant scientific resources. However, only 86 papers were analyzed due to comprehensiveness and relevancy to this article. Conclusion: Focused on the security and privacy of communication and how it can be achieved. This survey also reveals research progress and research gap on MixNet.

Conclusions and Future Directions for the Study of Accurate Personality Judgment

2020 ◽  
Author(s):  
Tera D. Letzring
Keyword(s):  
Standardized Tests ◽  
Personality Trait ◽  
Training Programs ◽  
Future Research ◽  
Research Topics ◽  
Theoretical Frameworks ◽  
Future Directions ◽  
Personality Judgment ◽  
Exciting Time ◽  
And Training

This chapter identifies several well-established findings and overarching themes within personality trait accuracy research, and highlights especially promising directions for future research. Topics include (1) theoretical frameworks for accuracy, (2) moderators of accuracy and the context or situation in which judgments are made, (3) the important consequences of accuracy, (4) interventions and training programs to increase judgmental ability and judgability, (5) the generalizability of previous findings, and (6) standardized tests of the accuracy of judging personality traits. The chapter ends by stating that it is an exciting time to be a researcher studying the accuracy of personality trait judgments.

scholarly journals Selective Harvesting Robotics: Current Research, Trends, and Future Directions

2021 ◽  
Author(s):  
Gert Kootstra ◽  
Xin Wang ◽  
Pieter M. Blok ◽  
Jochen Hemming ◽  
Eldert van Henten
Keyword(s):  
Review Paper ◽  
Production Systems ◽  
Future Research ◽  
Limiting Factor ◽  
Future Directions ◽  
Research Directions ◽  
Selective Harvesting ◽  
Important Solution ◽  
Future Research Directions ◽  
Current Systems

Abstract Purpose of Review The world-wide demand for agricultural products is rapidly growing. However, despite the growing population, labor shortage becomes a limiting factor for agricultural production. Further automation of agriculture is an important solution to tackle these challenges. Recent Findings Selective harvesting of high-value crops, such as apples, tomatoes, and broccoli, is currently mainly performed by humans, rendering it one of the most labor-intensive and expensive agricultural tasks. This explains the large interest in the development of selective harvesting robots. Selective harvesting, however, is a challenging task for a robot, due to the high levels of variation and incomplete information, as well as safety. Summary This review paper provides an overview of the state of the art in selective harvesting robotics in three different production systems; greenhouse, orchard, and open field. The limitations of current systems are discussed, and future research directions are proposed.

scholarly journals Artificial imine reductases: developments and future directions

2020 ◽  
Vol 1 (5) ◽  
pp. 369-378
Author(s):  
Rosalind L. Booth ◽  
Gideon Grogan ◽  
Keith S. Wilson ◽  
Anne-Kathrin Duhme-Klair
Keyword(s):  
Future Research ◽  
Future Directions ◽  
Artificial Metalloenzymes

This review surveys the development of this class of artificial metalloenzymes and provides a perspective on existing and future research in the area.

scholarly journals Purpose in the For-Profit Firm: A Review and Framework for Management Research

2021 ◽  
pp. 014920632110064
Author(s):  
Gerard George ◽  
Martine R. Haas ◽  
Anita M. McGahan ◽  
Simon J. D. Schillebeeckx ◽  
Paul Tracey
Keyword(s):  
Stock Market ◽  
Employee Satisfaction ◽  
Institutional Context ◽  
Organizational Outcomes ◽  
Review Literature ◽  
Future Research ◽  
Management Research ◽  
For Profit ◽  
Stock Market Performance ◽  
Pluralistic Approach

Purpose is a concept often used in managerial communities to signal and define a firm’s benevolent and pluralistic approach to its stakeholders beyond its focus on shareholders. While some evidence has linked purpose to positive organizational outcomes such as growth, employee satisfaction, innovation, and superior stock market performance, the definition and application of purpose in management research has been varied and frequently ambiguous. We review literature streams that invoke purpose in the for-profit firm and propose a unifying definition. Next, we develop a framework to study purpose that decouples its framing and formalization within firms from its realization, thus helping to avoid conflation of the presence of purpose with positive organizational outcomes. The framework also highlights internal and external drivers that shape the framing of purpose as well as the influence of the institutional context on its adoption and effectiveness. Finally, we provide a rich agenda for future research on purpose.

scholarly journals “Nanomaterials of curcumin-hyaluronic acid”: their various methods of formulations, clinical and therapeutic applications, present gap, and future directions

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Tanzeel Rehman Charan ◽  
Muhammad Aqeel Bhutto ◽  
Mihr Ali Bhutto ◽  
Azhar Ali Tunio ◽  
Ghulam Murtaza Khuhro ◽  
...  
Keyword(s):  
Clinical Trials ◽  
Hyaluronic Acid ◽  
Future Research ◽  
Main Body ◽  
Future Directions ◽  
Research Directions ◽  
Safety And Efficacy ◽  
Therapeutic Applications ◽  
Future Research Directions ◽  
Neural Disorders

Abstract Background Nanomaterials of curcumin with hyaluronic acid have gained a lot of attention for potential therapeutic applications of curcumin and hyaluronic acid with or without other additional drugs. Overall studies of curcumin and hyaluronic acid show that nanomaterials of curcumin with hyaluronic acid accelerate the efficacy of curcumin in the treatment of various disorders like arthritis, cancer, hepatic fibrosis, neural disorders, wound healing, and skin regeneration, it is largely due to the combined effect of hyaluronic acid and curcumin. However, due to limited clinical trials and experiments on humans and animals, there is a substantial gap in research for the safety and efficacy of nanomaterials of curcumin-hyaluronic acid in the treatment of curcumin and hyaluronic acid targeted diseases and disorders. Main body of the abstract In this current review, we have first described various reported synthetic nanomaterials of curcumin-hyaluronic acid, then in the next section, we have described various fields, disorders, and diseases where these are being applied and in the final section of this review, we discussed the research gap, and future research directions needed to propose the fabricated nanocurcumin-hyaluronic acid biomaterials. Short conclusion There are substantial gaps in research for the safety and efficacy of nanomaterials of curcumin with hyaluronic acid due to limited available data of clinical trials and experiments of nanocurcumin-hyaluronic acid biomaterials on humans and animals. So, it entirely requires serious and committed efforts through the well-organized system of practical and clinical trials which provide results, data, and detections that lead to the formulation of the best drug from curcumin with hyaluronic acid for the treatment of curcumin and hyaluronic acid targeted diseases and disorders.

scholarly journals Attachment and relationships: Milestones and future directions

2010 ◽  
Vol 27 (2) ◽  
pp. 173-180 ◽  
Author(s):  
Jeffry A. Simpson ◽  
W. Steven Rholes
Keyword(s):  
Health Outcomes ◽  
Attachment Theory ◽  
Adult Attachment ◽  
Future Research ◽  
Future Directions ◽  
The Past

Adult attachment researchers have made important strides during the past 25 years in testing and applying attachment theory to multiple personal and interpersonal domains. We highlight some of the major milestones and then propose several directions for future research. Some of the most important and promising directions include testing additional normative processes implied by attachment theory, developing and testing critical connections between attachment theory and other major interpersonal theories, and identifying pathways between attachment processes and long-term health outcomes.

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