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This week, an interesting paper about how heuristics, which have low cognitive demands, can nonetheless become less effective as cognitive decline sets in.
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At Decision Science News, we love the commitment devices. But, as we’ve have spoken about, we have mixed feelings about them, including the nagging concern is that commitment devices they may not lead to deep-seated changes or habit formation.
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Belief in the hot hand in sports is the belief that someone who makes a shot has an increased probability of making the next shot, and that someone who misses a shot has a decreased probability of making the next shot.
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Decision Science News has posted before on Zhao, Lynch, and Chen’s practical article on mediation analysis. John Lynch has written the following, re-emphasizing the article’s main points:
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This week, two fun Econ-Finance papers. First is Steven Levitt and Thomas Miles’ analysis of whether poker is a game of skill. Next the famous Fama-French duo ask the same question of mutual fund management.
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Decision Science News readers know about Hal Hershfield and Dan Goldstein’s experiments in which they exposed people to interactive images of their future self to see how it would impact their saving behavior (pictured above).
The idea was sent up in three Saturday Night Live fake commercials for Lincoln Financial. The SNL interactions with the future self were a lot more awkward than ours, but maybe that’s a good thing for changing behavior?
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With this call for papers, we hope to attract manuscripts that are
outstanding empirical and/or theoretical exemplars of research on any health
related topic from a behavioral and/or experimental economic perspective. We
anticipate studies will focus on a range of topics, including, but not
limited to: Smoking, Dietary choices, Adherence to treatment, Decision
making, Risk taking behavior, Choice architecture, Information asymmetry and
use of monetary incentives to alter behavior. We expect papers to reflect a
variety of methodologies but to highlight implications of the research for
practitioners and policy makers.
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Most inventions fail to be commercialized profitably. Wouldn’t it be nice to be able to predict which ones will? This paper, by Astebro and Elhedhli argues that a simple rule can do quite well making forecasts in a difficult real-world setting.
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The journal Judgment and Decision Making today published the third special issue on “Recognition processes in inferential decision making (III)” edited by Julian N. Marewski, Rüdiger F. Pohl and Oliver Vitouch. All the articles address the recognition heuristic [Goldstein, D. G. & Gigerenzer, G. (2002). Models of ecological rationality: The recognition heuristic. Psychological Review, 109, 75-90.]
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Last week, Decision Science News posted about a “no-decision diet” in which its editor followed, for one week and without exceptions, a healthy diet designed by someone else. Since then, a number of people have written in asking to have a look at the diet. If you were hoping to find out what the diet included, today is your lucky day.
