Economic decision biases and fundamental motivations: how mating and self-protection alter loss aversion.

Journal of Personality and Social Psychology Economic Decision Biases and Fundamental Motivations: How Mating and Self-Protection Alter Loss Aversion

Effect of Cognitive Biases on Rationality of Economic Decision Making under Risk among Students of Shahid Beheshti University

The purpose of this study is to determine the quality of individual economic decision making under risk and uncertainty. The research method is a quasi-experiment with single group and a post-test. The total population of the students of Shahid Beheshti University in 97 was 8.700 and due to non-normal distribution, we should use non-parametric Wilcoxon test, with sample of 180. The tool used to...

Cognitive biases can affect moral intuitions about cognitive enhancement

Research into cognitive biases that impair human judgment has mostly been applied to the area of economic decision-making. Ethical decision-making has been comparatively neglected. Since ethical decisions often involve very high individual as well as collective stakes, analyzing how cognitive biases affect them can be expected to yield important results. In this theoretical article, we consider...

Promoting de-escalation of commitment: a regulatory-focus perspective on sunk costs.

People frequently escalate their commitment to failing endeavors. Explanations for such behavior typically involve loss aversion, failure to recognize other alternatives, and concerns with justifying prior actions; all of these factors produce recommitment to previous decisions with the goal of erasing losses and vindicating these decisions. Solutions to escalation of commitment have therefore ...

Risk premiums and certainty equivalents of loss-averse newsvendors of bounded utility

Loss-averse behavior makes the newsvendors avoid the losses more than seeking the probable gains as the losses have more psychological impact on the newsvendor than the gains. In economics and decision theory, the classical newsvendor models treat losses and gains equally likely, by disregarding the expected utility when the newsvendor is loss-averse. Moreover, the use of unbounded utility to m...