Questions tagged [behavioral-economics]

The study of the impact of psychological processes (e.g., cognitive, emotional) on economic behavior and decision making.

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What is the proper way to call “psychology of persuasion”?

I was wondering what can you call the field of psychology involved in behavioral economics, science of influence & social psychology as a whole. (The emphasis being on influence & persuasion) ...
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Could endowment effect be explained by unsurity about the object? [closed]

I'm reading about Endowment Effect on Wikipedia. One of the ways of stating it seems to be People's maximum willingness to pay (WTP) to acquire an object is typically lower than the least amount ...
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Can humans unconsciously realize that they are being sold?

It is said in the marketing community that the order in which you present "Price" and "Value" in business propositions changes the consumer behavior. It is said that when price is presented first, ...
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In what contexts is loss aversion least controversial?

Loss aversion (and related phenomena like the endowment effect) are somewhat controversial, it seems; from Wikipedia: Recently, studies have questioned the existence of loss aversion. In several ...
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321 views

Are people more likely to pick the odd one out?

I was wondering if there has been any research to suggest that when given a list of options to choose from, people are more likely to pick an option if it looks different to the other options? My ...
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How can I run a placebo medication pills study? Practical advice needed

I am a lab manager looking to design a placebo experiment in a behavioral lab with a medical doctor. I believe our study needs to be credible and professional. I'd appreciate any recommendations on ...
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Why some papers suggest that losses and gains are coded by the same mechanism while other suggest that distinct circuits anticipate gain and loss?

In this paper, it states that "Consistent with neuroimaging evidence suggesting that distinct circuits anticipate gain and loss,..." However in this paper, it states "..., these results are consistent ...
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520 views

What is the name of the bias that associate a thing as good because it has a relation to another good thing?

A customer buys X from "brand A" and has positive experience with it. "Brand A" also sells Y. Now the customer things it is good to buy Y because of his/her positive experience with buying X from ...
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Are millenials more risk-averse than prior generations were (at the same age)?

The Congressional Institute (a US Republican think tank) has a 2015 report stating that: Millennials were highly protected in childhood by a fortress of youth safety initiatives, which they took as ...
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Psychology of brand names

Marketers use the fact that different letters are associated with different mental images and emotions when they create brand names. Studies show that letters and their combinations produce ...
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121 views

Encouraging Kindness in Rich People?

Evidence presented in this video suggests that, statistically, rich people are more likely to be jerks than people with less money. How could this tendency be curbed, especially with regards to rich ...
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What is the relationship between a strong work ethic and an honest reputation and individual success?

We're all being constantly told that strong work ethics, honestly reputation and all similar things is the key and the only key to success. But observation of success of certain politicians, marketing ...
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856 views

What's the difference between Confirmation Bias and the Affect Heuristic?

I've been reading "Thinking Fast & Slow," by Daniel Kahneman. At the end of Chapter 9, he introduces the "Affect Heuristic," a concept introduced by Paul Slovic that effectively states that people ...
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Are there dual-process IQ tests?

I mean tests that try to measure system 1 and system 2 performance separately, but more than short lists of trick questions which unfortunately seem to make the bulk of the empirical work in this dual-...
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Ben Franklin effect: mkay, what about help vampires?

Is the Ben Franklin effect as uncontroversial as wikipedia makes it to be? It states that once we grant someone a favor we're even more inclined to grant them subsequent favors. As far as I can tell ...
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Risk aversion and/or loss aversion in partner-abuse victims who persist in their relationship with the abuser?

A recent study by Baek et al. (2017) found that depressed patients with a history of suicide attempt(s) were exhibiting risk and loss aversion much more so than the general population does. (Note that ...
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129 views

What's the technical name for this cognitive bias?

I'm pretty sure I've seen this cognitive bias described in the literature, but I can't find its official name, so I'll provisionally call it "the used-book finder's bias", based on the following ...
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Why can't subjective utilities take probabilities into account?

If my understanding of expected utility theory is correct, it is rational for a decision maker to have subjective utilities for objective consequences. For example, it can be rational for a ...
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How to explain utility function from personality, beliefs and ongoing emotions?

Economists widely use utility function (and more broader approach called hedonistic regression) but are there explanations or derivations of utility function from the perspective of cognitive sciences ...
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109 views

An Overview of Priming in Psychology [closed]

I am looking for a comprehensive overview of priming literature in psychology and cognitive science. A survey article or a book would be a great start. More specifically, I am interested to learn ...
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148 views

Do dissatisfaction with a job and relationships share the same mental mechanism?

The modern world has two new ways of finding abundance of employment and relationships: Job boards, career sites and recruiters for finding jobs Online dating sites for finding dates While seemingly ...
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254 views

Using Cognitive biases for behavior change?

I'm interested in using cognitive biases as basis for behavior change, similar to what we see in gaminfication (e.g. instant gratification to hook people to continue playing). I'm new to the field and ...
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How can psychometric or behavioural tests be used in banking to evaluate creditworthiness?

Suppose an entrepreneur or borrower with little credit or business history goes to a bank or some financial institution to borrow money. Banks can use, as an alternative to a credit or business ...
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218 views

How can I structure this question to check for availability bias?

I'm preparing a survey right now and one of the questions I'm looking to answer is: How much does availability bias effect the decision making process for [given behaviour]? My question is: What's ...
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Research on gift structure and satisfaction: one large gift or two small ones?

I'm familiar with some research into the subject of gift giving, for example Dan Ariely suggests that giving cash is less effective than buying somebody something. Other studies show that money spent ...
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Any research on a concept of 'empathetic preferences' used in economics?

Some economists/political scientists/philosophers (it's sometimes hard to classify them) have used in their theories a concept of "empathetic preferences", also known as "extended sympathy preferences"...
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List of experiments contradicting the expected utility model

I proposed this question as an example question for the Area51 proposal "Mathematical modeling". User Artem Kaznatcheev suggested that it be asked here too, which I thought was a good idea. So I am ...
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Do Kahneman–Tversky results hold for longer periods and aggregate behavior?

Kahneman and Tversky (1979) show findings that can be summarized in this plot: They show that humans dislike losses "more" than they like comparable nominal gains. The results come from a series of ...
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Could motivational interviewing techniques be used without engaging with a counselor?

I've found lots of info on motivational interviewing for strengthening a person's own motivation and commitment to change, but I'm wondering if this technique has been adapted to help people who won't ...
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What's the relationship between priming and anchoring?

I've recently been dabbling in the behavioral literature, reading about cognitive biases such an anchoring, when one of my friends asked me how this phenomenon differed from the classical cognitive ...