| 1. |
- Jonung, Lars
(författare)
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Uncertainty about inflationary perceptions and expectations
- 1986
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Ingår i: Journal of Economic Psychology. - : Elsevier BV. - 1872-7719 .- 0167-4870. ; 7:3, s. 315-325
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Tidskriftsartikel (refereegranskat)abstract
- This article reports the result of a survey designed to investigate the degree of uncertainty by which a representative sample of Swedish households hold their perceptions and expectations of inflation. The public displays hardly any uncertainty concerning the direction of change of the price level as measured by the ratio of ‘don't know’ answers. However, when asked for numerical estimates of the perceived and expected rate of inflation, uncertainty increases considerably. The ratio of ‘don't know’ answers is now about 45 per cent. Respondents giving numerical measures were asked to rank how certain they felt about their answers. The majority of them felt they were ‘rather certain’. A major difference in certainty was found between men and women. No major differences existed across age, place of living and education. The major conclusion of this study is that the public does not hold its inflationary perceptions and expectations with complete certainty as commonly assumed.
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| 2. |
- Andersson, Patric
(författare)
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Book review : Winning decisions: How to make the right decision the first time, J. Edward Russo and Paul J.H. Schoemaker, 2002
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Ingår i: Journal of Economic Psychology. - 0167-4870. ; 24:6, s. 795-797
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Recension (övrigt vetenskapligt/konstnärligt)abstract
- Bad golf shots are ultimately the results of bad golf swings. Individuals striving to become better players should focus on the fundamentals of the golf swing (e.g., grip and stance). With improved fundamentals, a player has greater opportunities to consistently hit good golf shots. Edward Russo and Paul Schoemaker, prominent researchers in behavioral decision-theory, adopt a similar line of reasoning: ‘Good decision processes are the best hope for good decision outcomes.’ As a consequence, individuals who want to make better decisions must learn about the processes unfolding decision-making. Based on this idea, Russo and Schoemaker published in 1989 a bestselling textbook on decision-making, where they identified a variety of errors commonly made in managerial decision-making and gave advice on overcoming these errors. Now they have published a new book on the psychology of decision-making.
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| 3. |
- Andersson, Patric
(författare)
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Does experience matter in lending? : a process-tracing study on experienced loan officers' and novices' decision behavior
- 2004
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870. ; 25:4, s. 471-492
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- This empirical study investigates the effect of experience on decision behavior in lending to small firms. There were three groups of participants, business students (n=19), junior loan officers (n=19), and senior loan officers (n=23), reflecting the following three levels of experience: novice, intermediate experience, and expert. Participants interacted with a software program and ade decisions about two realistic loan propositions. The results showed that: (i) senior loan officers acquired significantly more cues than the other two groups; (ii) the three groups had similar levels of internal consistency; (iii) neither senior nor junior loan officers acquired information in an active manner; (iv) senior loan officers tended to be cautious whereas novices plunged into judgment and decision-making; (v) senior loan officers were biased towards rejecting; and (vi) junior and senior loan officers took more time before making decisions. Besides the contribution to our understanding of experienced decision-makers in business life, the findings have implications for research on decision-making, small business finance, banking, and risk research.
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| 4. |
- Marell, Agneta, 1964-, et al.
(författare)
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Environmentally friendly replacements of automobiles
- 1995
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870 .- 1872-7719. ; 16:3, s. 513-529
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Tidskriftsartikel (refereegranskat)abstract
- A telephone survey of 100 automobile owners was undertaken. One aim was to determine whether the timing of replacement purchases is related to the difference between an owner's assessment of the current quality of their automobile and their aspiration level. Another aim was to investigate whether information indicating that either early or late replacement is better for the environment affects the timing of replacement through an influence on the aspiration level. Sets of path analyses confirmed that replacement purchase intention was causally related to the current level and the aspiration level. An indirect effect of information was furthermore observed through changes in the aspiration level. Degree of environmental concern tended to modify this effect. Replacement purchase intention was found to predict actual purchase.
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| 5. |
- Wahlund, Richard, et al.
(författare)
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Household financial strategies in Sweden : an exploratory study
- 1997
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870. ; 18:2-3, s. 201-233
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- The paper presents and discusses some results from an exploratory study of Swedish households' portfolio behaviour, The results show that groups of households exhibit different patterns of financial assets and debts, These patterns have been called financial strategies. The study was based on a survey with 1,000 randomly sampled Swedish households. The response rate was 50.3%. K-means cluster analysis of 35 standardised dichotomous variables measuring different forms of savings and debts was used to examine the existence of different types of financial strategies. The strategies were labelled the residual saving strategy (45.5% of the analysed households), the contractual saving strategy (22.0%), the security saving strategy (14.0%), the risk hedging strategy (9.3%), the prudent investing strategy (3.2%) and 'divergent' strategies (6.0%). Among the factors differing between the different types of financial strategies were time preferences, degree of financial planning and control, interest in financial matters, activity and innovativeness, attitudes towards financial risk taking, propensity to save, life-cycle categories, financial wealth and home ownership.
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| 6. |
- Wahlund, Richard, et al.
(författare)
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Mental discounting and financial strategies
- 1996
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870. ; 17:6, s. 709-730
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- Subjective discount rates have been used as measures of time preference to explain saving behavior, with varying results. There is also a lack of agreement between different explanatory models of subjective discount rates. In this paper, it is argued that a better understanding of subjective discount rates can be reached by using groups with different financial strategies as domains. It is shown by PLS and regression analyses that the mental discounting process differs between groups practicing different financial strategies and that the explained variance of subjective discount rates and thus the understanding of such rates are improved by using financial strategy groups as domains.
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| 7. |
- Agerström, Jens, 1976-, et al.
(författare)
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Using descriptive social norms to increase charitable giving : The power of local norms
- 2016
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Ingår i: Journal of Economic Psychology. - : Elsevier BV. - 0167-4870 .- 1872-7719. ; 52, s. 147-153
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Tidskriftsartikel (refereegranskat)abstract
- In a field experiment, we examined whether conveying descriptive social norms (e.g., "this is what most people do") increases charitable giving. Additionally, we examined whether people are more likely to conform to the local norms of one's immediate environment than to more global norms extending beyond one's local environment. University students received a charity organization's information brochure and were asked for a monetary contribution. An experimentaldescriptive norm manipulation was embedded in the brochure. We found that providing people with descriptive norms increased charitable giving substantially compared with industry standard altruistic appeals (control condition). Moreover, conveying local norms were more effective in increasing charitable givingthan conveying global norms. Practical implications for charity organizations and marketing are proposed.
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| 8. |
- Ahmed, Ali
(författare)
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Group identity, social distance and intergroup bias
- 2007
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870 .- 1872-7719. ; 28:3, s. 324-337
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Tidskriftsartikel (refereegranskat)abstract
- This paper studies how group identity, social distance and intergroup bias may aVect economic decision-making. Two types of experimental groupings are created, and subjects are then paired with either an in-group member or an out-group member in a number of two-person games. The result of this experiment shows that out-group members face a risk of being discriminated against. The cause of the discrimination is not hostility toward out-group members; the discrimination is triggered because of higher expectations or favoritism of in-group members. This type of behavior holds, regardless of the grouping procedure.
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| 9. |
- Alpizar, F., et al.
(författare)
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Spillovers from targeting of incentives: Exploring responses to being excluded
- 2017
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Ingår i: Journal of Economic Psychology. - : Elsevier BV. - 0167-4870 .- 1872-7719. ; 59, s. 87-98
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Tidskriftsartikel (refereegranskat)abstract
- A growing set of policies involve transfers conditioned upon socially desired actions, such as attending school or conserving forest. However, given a desire to maximize the impact of limited funds by avoiding transfers that do not change behavior, typically some potential recipients are excluded on the basis of their characteristics, their actions or at random. This paper uses a laboratory experiment to study the behavior of individuals excluded on different bases from a new incentive that encourages real monetary donations to a public environmental conservation program. We show that the donations from the individuals who were excluded based on prior high contributions fell significantly. Yet the rationale used for exclusion mattered, in that none of the other selection criteria used as the basis for exclusion resulted in negative effects on contributions. (C) 2017 Elsevier B.V. All rights reserved.
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| 10. |
- Andersen, Steffen, et al.
(författare)
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Dual criteria decisions
- 2014
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Ingår i: Journal of Economic Psychology. - : Elsevier. - 0167-4870 .- 1872-7719. ; 41, s. 101-113
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Tidskriftsartikel (refereegranskat)abstract
- The most popular models of decision making use a single criterion to evaluate projects or lotteries. However, decision makers may actually consider multiple criteria when evaluating projects. We consider a dual criteria model from psychology. This model integrates the familiar tradeoffs between risk and utility that economists traditionally assume, allowance for rank-dependent decision weights, and consideration of income thresholds. We examine the issues involved in full maximum likelihood estimation of the model using observed choice data. We propose a general method for integrating the multiple criteria, using the logic of mixture models, which we believe is attractive from a decision-theoretic and statistical perspective. The model is applied to observed choices from a major natural experiment involving intrinsically dynamic choices over highly skewed outcomes. The evidence points to the clear role that income thresholds play in such decision making, but does not rule out a role for tradeoffs between risk and utility or probability weighting.
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