scholarly journals The Role of Social Networks in Economic Decision Making Processes: The Case of Customers in Selected Banks of Shashemene Town, Oromia, Ethiopia

2019 ◽  
Keyword(s):  
Decision Making ◽  
Social Networks ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Decision Making Processes

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)

The neural mechanisms of affect infusion in social economic decision-making: A mediating role of the anterior insula

NeuroImage ◽  
2012 ◽  
Vol 61 (1) ◽  
pp. 32-40 ◽  
Author(s):  
Katia M. Harlé ◽  
Luke J. Chang ◽  
Mascha van 't Wout ◽  
Alan G. Sanfey
Keyword(s):  
Decision Making ◽  
Social Economic ◽  
Anterior Insula ◽  
Neural Mechanisms ◽  
Economic Decision ◽  
Mediating Role ◽  
Economic Decision Making

A Cross-Cultural Examination of the Role of Time Representation in Economic Decision-Making

2020 ◽  
Vol 87 (9) ◽  
pp. S134
Author(s):  
Denise Croote ◽  
Baojun Lai ◽  
Jingchu Hu ◽  
Alison Montagrin ◽  
Daniela Schiller
Keyword(s):  
Decision Making ◽  
Cross Cultural ◽  
Economic Decision ◽  
Time Representation ◽  
Economic Decision Making

Economic Decision-Making in Private Corporations Versus Public Sector

2020 ◽  
Vol 11 (1) ◽  
pp. 73-98
Author(s):  
Brian J. Galli
Keyword(s):  
Decision Making ◽  
Public Sector ◽  
Literature Review ◽  
Private Firms ◽  
Public And Private ◽  
Economic Decision ◽  
The Public ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
Decision Making Processes

This research takes a comparative analysis approach to study the process of economic decision-making within the private sector and the public sector. There are four main research objectives that guided this article. First, it aims to identify the different kinds of decision-making methods. Second, this article analyzes the economic decision-making processes that stakeholders have to make in public and private firms. Third, this r seeks to illustrate that establish effective decision-making and financial performance relate. Lastly, the article will offer effective economic decision-making procedures in private and public organizations, so as to make recommendations and to guide these businesses. To do so, there is a literature review in this research to find the best economic decision-making processes. Data collection tools were created in reference to the literature review that directed the structuring of the variables, and the study based the quantitative analysis on the adopted descriptive methodology. The sample was comprised of 100 respondents from China, and since 95% responded, that was a total of 95 responses. Based on the formulated study hypothesis and the research objectives, the collected data was examined for descriptive and inferential statistical analysis. In general, the findings showed that cost-benefit analysis was the favored economic evaluation method, and the respondents specified that they their internal and external economic decisions directly influence the company's operations. When focusing on how organizational performance is affected by effective economic decisions, the findings established that there was a key component for a better economic analysis outcome in the public and private firms: accounting information. Additionally, evaluating the number of processes in public and private firms led to findings that revealed the following: every decision in the public sector requires many approvals. These approvals greatly hinder economic decisions and decision-making. Social, cultural, and environmental aspects influence the decision process significantly, so they must be addressed immediately.

Analysis of Cognitive Machines in Organizations

2010 ◽  
pp. 99-110
Author(s):  
Farley Simon Nobre ◽  
Andrew M. Tobias ◽  
David S. Walker
Keyword(s):  
Decision Making ◽  
Conflict Resolution ◽  
Bounded Rationality ◽  
Work Relationships ◽  
Relative Level ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Decision Making Processes

This chapter introduces analyses of cognitive machines and perspectives about their participation in organizations. Therefore, it connects cognitive machines with the discipline of organizations. The analyses of cognitive machines comprise concepts of bounded rationality, economic decision-making and conflict resolution (Nobre, 2005). From such an analysis, this book advocates that these machines can be used to reduce or to solve intra-individual and group dysfunctional conflicts which arise from decision-making processes in organizations. Therefore, they can provide organizations with higher degrees of cognition, and consequently reduce the relative level of complexity and uncertainty of the environment. This chapter also derives a theorem on the implications of cognitive machines for organizations and the environment. It concludes by presenting perspectives about the work relationships between cognitive machines, their designer and the organization.

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 Abnormal Causal Attribution Leads to Advantageous Economic Decision-making: A Neuropsychological Approach

2013 ◽  
Vol 25 (8) ◽  
pp. 1372-1382 ◽  
Author(s):  
Timothy R. Koscik ◽  
Daniel Tranel
Keyword(s):  
Decision Making ◽  
Causal Attribution ◽  
Situational Factors ◽  
Neural Basis ◽  
Correspondence Bias ◽  
Economic Decision ◽  
Social Inference ◽  
Economic Decision Making ◽  
Situational Information

People tend to assume that outcomes are caused by dispositional factors, for example, a person's constitution or personality, even when the actual cause is due to situational factors, for example, luck or coincidence. This is known as the “correspondence bias.” This tendency can lead normal, intelligent persons to make suboptimal decisions. Here, we used a neuropsychological approach to investigate the neural basis of the correspondence bias, by studying economic decision-making in patients with damage to the ventromedial pFC (vmPFC). Given the role of the vmPFC in social cognition, we predicted that vmPFC is necessary for the normal correspondence bias. In our experiment, consistent with expectations, healthy (n = 46) and brain-damaged (n = 30) comparison participants displayed the correspondence bias during economic decision-making and invested no differently when given dispositional or situational information. By contrast, vmPFC patients (n = 17) displayed a lack of correspondence bias and invested more when given dispositional than situational information. The results support the conclusion that vmPFC is critical for normal social inference and the correspondence bias. The findings help clarify the important (and sometimes disadvantageous) role of social inference in economic decision-making.

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