The document proposes a study to investigate how framing and social stress influence financial decision-making. Specifically, it hypothesizes that stress will increase risk-seeking behavior for decisions framed as losses, but not for decisions framed as gains. Undergraduate students will be randomly assigned to stress or no-stress conditions before making hypothetical choices between sure and probabilistic options framed as gains or losses. Results are expected to show that stress enhances risk-seeking for loss frames due to impaired decision-making under stress.
INVESTIGATE THE ROLE OF IMPULSIVITY IN DECISIONS MAKING DURING GAMBLING TASK:...Gyan Prakash
The aim of the current study is to understand impulsivity, reward and loss sensitivity in decision making using Iowa Gambling Task and investigate how impulsivity affects decision- making using BIS/BAS scale. We investigate how the personality trait determines decision making using NEO-FFI scale. Method: We assessed 130 participants for conducting two types of experiment (1) Choice Behavior Test is conducted with the help of Iowa Gambling Task (IGT) on the computer screen.(2) Personality Test is conducted with the help of Behavior Inhibition system and Behavior Approach System (BIS/BAS), NEO-F FI( NEO-Five Factor Inventory) scale and Rational-Experiential Inventory (REI).Results: The result indicated that participants who were low on impulsivity fared worst on IGT task compared to the participants who were high on impulsivity. Similar results were demonstrated for personality traits and information processing styles. The results imply that personality traits determine decision-making process. Similarly, information processing styles evaluate preferences for information processing that determine the decisions making and Impulsivity affects decision making
Este artículo muestra los resultados de un experimento con un test (llamado cognitive reflection test ―CRT por sus siglas en inglés y cuya traducción puede ser “prueba de reflexión cognitiva”) diseñado por Shane Frederick, profesor de mercadotecnia en la Universidad de Yale. Se realizaron una serie de encuestas a estudiantes de varias universidades norteamericanas (entre ellas el MIT, la Universidad de Princeton, Carnegie Mellon y Harvard) con el objetivo de averiguar qué tipo de razonamiento sigue una persona al enfrentarse a un problema en su vida cotidiana.
When children and teens present with behaviour and emotional problems the lure of a quick fix is
understandable and drugs present a ready-made solution. Therapists are often hesitant to talk about
medication and defer to medical professionals. In this paper DUNCAN, SPARKS, MURPHY and MILLER
highlight the explosion in the use of psychotropic medications for children and teens. This trend flies in the
face of the American Psychological Association’s recommendation of the use of psychosocial interventions
as the first intervention of choice with children and teens. The reliability and validity of psychiatric diagnoses is
questioned, in particular against a background of fluctuations in child development and social adaptations,
and a compelling critique is provided of the current research findings on the effectiveness of psychotropic
medications including antidepressants and ADHD medications. Therapists are urged to shed their timidity
and discuss openly the risks and benefits of medication with the knowledge that there is empirical support
for psychosocial interventions as a first line approach. Recommendations are offered to engage clients as
central partners in developing solutions—medical or non-medical—that fit each child and each situation.
This article tracks the history and development of the notion of using the client's ideas, preferences, and sensabilities about change to select model and technique. It argues for exploring and incorporating client ideas about change.
INVESTIGATE THE ROLE OF IMPULSIVITY IN DECISIONS MAKING DURING GAMBLING TASK:...Gyan Prakash
The aim of the current study is to understand impulsivity, reward and loss sensitivity in decision making using Iowa Gambling Task and investigate how impulsivity affects decision- making using BIS/BAS scale. We investigate how the personality trait determines decision making using NEO-FFI scale. Method: We assessed 130 participants for conducting two types of experiment (1) Choice Behavior Test is conducted with the help of Iowa Gambling Task (IGT) on the computer screen.(2) Personality Test is conducted with the help of Behavior Inhibition system and Behavior Approach System (BIS/BAS), NEO-F FI( NEO-Five Factor Inventory) scale and Rational-Experiential Inventory (REI).Results: The result indicated that participants who were low on impulsivity fared worst on IGT task compared to the participants who were high on impulsivity. Similar results were demonstrated for personality traits and information processing styles. The results imply that personality traits determine decision-making process. Similarly, information processing styles evaluate preferences for information processing that determine the decisions making and Impulsivity affects decision making
Este artículo muestra los resultados de un experimento con un test (llamado cognitive reflection test ―CRT por sus siglas en inglés y cuya traducción puede ser “prueba de reflexión cognitiva”) diseñado por Shane Frederick, profesor de mercadotecnia en la Universidad de Yale. Se realizaron una serie de encuestas a estudiantes de varias universidades norteamericanas (entre ellas el MIT, la Universidad de Princeton, Carnegie Mellon y Harvard) con el objetivo de averiguar qué tipo de razonamiento sigue una persona al enfrentarse a un problema en su vida cotidiana.
When children and teens present with behaviour and emotional problems the lure of a quick fix is
understandable and drugs present a ready-made solution. Therapists are often hesitant to talk about
medication and defer to medical professionals. In this paper DUNCAN, SPARKS, MURPHY and MILLER
highlight the explosion in the use of psychotropic medications for children and teens. This trend flies in the
face of the American Psychological Association’s recommendation of the use of psychosocial interventions
as the first intervention of choice with children and teens. The reliability and validity of psychiatric diagnoses is
questioned, in particular against a background of fluctuations in child development and social adaptations,
and a compelling critique is provided of the current research findings on the effectiveness of psychotropic
medications including antidepressants and ADHD medications. Therapists are urged to shed their timidity
and discuss openly the risks and benefits of medication with the knowledge that there is empirical support
for psychosocial interventions as a first line approach. Recommendations are offered to engage clients as
central partners in developing solutions—medical or non-medical—that fit each child and each situation.
This article tracks the history and development of the notion of using the client's ideas, preferences, and sensabilities about change to select model and technique. It argues for exploring and incorporating client ideas about change.
Article just out in Psychotherapy in Australia. Incorporating the latest research about what works in therapy to address what makes a "master" therapist.
PCOMS works with kids too!
Cooper, M., Stewart, D., Sparks, J., Bunting, L. (2013). School-based counseling using systematic feedback: A cohort study evaluating outcomes and predictors of change. Psychotherapy Research, 23, 474-488.
THIS CHAPTER DISCUSSES
•The empirical evidence supporting a strengths-based approach
•Specific practice guidelines for recruiting client resources to promote change
•The link between pluralistic counselling and a focus on client strengths
The fiction of optimization and deliberate practice, A Decision/Action Model ...Larry Paul
A Decision/Action Model for Soccer – Pt 11, The Fiction of Optimization and Deliberate Practice, Removing Barriers to Expertise.
“The perfect is the enemy of the good” – Voltaire
“A good plan violently executed now is better than a perfect plan executed next week.” - George Patton
“The concept of optimization relies on a number of assumptions. These assumptions are very restrictive. I have not met any decision researcher or analyst who believes that these assumptions will be met in any setting, with the possible exception of the laboratory or the casino… In the majority of field settings, there is no way to determine if a decision choice is optimal owing to time pressure, uncertainty, illdefined goals, and so forth.” Gary Klein
Barry's standard handouts providing a narrative description of what he presents. Includes a discussion of the common factors and the Partners for Change Outcome Management System
INDIVIDUAL EMOTION RECOGNITION AND SUBGROUP ANALYSIS FROM PSYCHOPHYSIOLOGICAL...sipij
This study involves intra- and inter-individual emotion classifications from psychophysiological signals and subgroup analysis on the influence of gender and age and their interaction on the emotion recognition. Individual classifications are conducted using a selection of feature optimization, classification and evaluation approaches. The subgroup analysis is based on the inter-individual classification. Emotion
elicitation is conducted using standardized pictures in the Valence-Arousal-Dominance dimensions and affective states are classified into five different category classes. Advantageous intra-individual rates are obtained via multi-channel classification and the respiration best contributes to the recognition. High interindividual variances are obtained showing large variability in physiological responses between the
subjects. Classification rates are significantly higher for women than for men for the 3-category-class of Valence. Compared to old subjects, young subjects have significantly higher rates for the 3-category-class and 2-category-class of Dominance. Moreover, young men’s classification performed the best among the other subgroups for the 5-category-class of Valence/Arousal.
Article just out in Psychotherapy in Australia. Incorporating the latest research about what works in therapy to address what makes a "master" therapist.
PCOMS works with kids too!
Cooper, M., Stewart, D., Sparks, J., Bunting, L. (2013). School-based counseling using systematic feedback: A cohort study evaluating outcomes and predictors of change. Psychotherapy Research, 23, 474-488.
THIS CHAPTER DISCUSSES
•The empirical evidence supporting a strengths-based approach
•Specific practice guidelines for recruiting client resources to promote change
•The link between pluralistic counselling and a focus on client strengths
The fiction of optimization and deliberate practice, A Decision/Action Model ...Larry Paul
A Decision/Action Model for Soccer – Pt 11, The Fiction of Optimization and Deliberate Practice, Removing Barriers to Expertise.
“The perfect is the enemy of the good” – Voltaire
“A good plan violently executed now is better than a perfect plan executed next week.” - George Patton
“The concept of optimization relies on a number of assumptions. These assumptions are very restrictive. I have not met any decision researcher or analyst who believes that these assumptions will be met in any setting, with the possible exception of the laboratory or the casino… In the majority of field settings, there is no way to determine if a decision choice is optimal owing to time pressure, uncertainty, illdefined goals, and so forth.” Gary Klein
Barry's standard handouts providing a narrative description of what he presents. Includes a discussion of the common factors and the Partners for Change Outcome Management System
INDIVIDUAL EMOTION RECOGNITION AND SUBGROUP ANALYSIS FROM PSYCHOPHYSIOLOGICAL...sipij
This study involves intra- and inter-individual emotion classifications from psychophysiological signals and subgroup analysis on the influence of gender and age and their interaction on the emotion recognition. Individual classifications are conducted using a selection of feature optimization, classification and evaluation approaches. The subgroup analysis is based on the inter-individual classification. Emotion
elicitation is conducted using standardized pictures in the Valence-Arousal-Dominance dimensions and affective states are classified into five different category classes. Advantageous intra-individual rates are obtained via multi-channel classification and the respiration best contributes to the recognition. High interindividual variances are obtained showing large variability in physiological responses between the
subjects. Classification rates are significantly higher for women than for men for the 3-category-class of Valence. Compared to old subjects, young subjects have significantly higher rates for the 3-category-class and 2-category-class of Dominance. Moreover, young men’s classification performed the best among the other subgroups for the 5-category-class of Valence/Arousal.
Economie Sociale et Solidaire et Web 2.0 : enjeux et pratiquesLEVY REMI
L'Économie Sociale et Solidaire et le Web 2.0 : Enjeux et pratiques. Présenté par Rémi LEVY dans le cadre du Mois de l'Économie Sociale et Solidaire 2009 le 29 novembre 2009 - Webschool - Tours
Research Theory, Design, and Methods Walden UniversityThre.docxdebishakespeare
Research Theory, Design, and Methods
Walden University
Threats to Internal Validity
Threats to Internal Validity
(Shadish, Cook & Campbell, 2002)
1. Ambiguous temporal precedence. Based on the design, unable to determine with certainty which variable occurred first or which variable caused the other. Thus, unable to conclude with certainty cause-effect relationship. Correlation of two variables does not prove causation.
2. Selection. The procedures for selecting participants (e.g., self-selection or researcher sampling and assignment procedures) result in systematic differences across conditions (e.g., experimental-control). Thus, unable to conclude with certainty that the “intervention” caused the effect; could be due to way in which participants are selected.
3. History. Other events occur during the course of treatment that can interfere with treatment effects, and could account for outcomes. Thus, unable to conclude with certainty that the “intervention” caused the effect; could be due to some other event to which the participants were exposed.
4. Maturation. Natural changes that participants experience (e.g., grow older, get tired) during the course of the intervention could account for the outcomes. Thus, unable to conclude with certainty that the “intervention” caused the effect; could be due to the natural change/maturation of the participants.
5. Regressionartifacts. Participants who are at extreme ends of the measure (score higher or lower than average) are likely to “regress” toward the mean (scores get lower or higher, respectively) on other measures or retest on same measure. Thus, regression can be confused with treatment effect.
6. Attrition (mortality). Refers to drop out or failure to complete the treatment/study activities. If differential drop out across groups (e.g., experimental-control) occurs, could confound the results. Thus, effects may be due to drop out rather than treatment.
7. Testing. Experience with test/measure influences scores on retest. For example, familiarity with testing procedures, practice effects, or reactivity can influence subsequent performance on the same test.
8. Instrumentation. The measure changes over time (e.g., from pretest to posttest) thus making it difficult to determine if effects or outcomes are due to instrument vs. treatment. For example, observers change definitions of behaviors they are tracking, or the researcher alters administration of test items from pretest to posttest.
9. Additive and interactive effects of threats to validity. Single threats interact, such that the occurrence of multiple threats has an additive effect. For example, selection can interact with history, maturation, or instrumentation.
Reference
Shadish, W. R., Cook, T. D., & Campbell, D. T. (2002). Experimental and quasi-experimental designs for generalized causal inference. Boston: Houghton- Mifflin.
1 of 2
Research Theory, Design, and Methods
Walden University
Measurement of Variables
On ...
Notes for question please no plag use references to cite wk 2 .docxcherishwinsland
Notes for question please no plag use references to cite
wk 2 1. Briefly summary of the comparison of the reliability and validity of responses on attitude scales
Washtenaw Community College, Ann Arbor MI, Retrieved from http://www4.wccnet.edu/departments/curriculum/assessment.php?levelone=tools
Strong words or moderate words: A comparison of the reliability and validity of responses on attitude scales
A common assumption in attitude measurement is that items should be composed of strongly worded statements. The presumed benefit of strongly worded statements is that they produce more reliable and valid scores than statements with moderate or weak wording. This study tested this assumption using commonly accepted criteria for reliability and validity. Two forms of attitude scales were created—a strongly worded form and a moderately worded form—measuring two attitude objects—attitude towards animal experimentation and attitude towards going to the movies. Different formats were randomly administered to samples of graduate students. There was no superiority found for strongly worded statements over moderately worded statements. The only statistically significant difference was found between one pair of validity coefficients ( r = 0.69; r = 0.15; Z = 2.60, p ≤ 0.01) and that was in the direction opposite from expected, favoring moderately worded items over strongly worded items (total scores correlated with a general behavioral item). (PsycINFO Database Record (c) 2016 APA, all rights reserved) (Source: journal abstract)
wk 2 2. What are Effective ways to understand and organize data using descriptive statistics?
Organizing Quantitative Data
Organizing quantitative data [Video file]. (2005). Retrieved January 20, 2017, from http://fod.infobase.com/PortalPlaylists.aspx?wID=18566&xtid=36200
http://fod.infobase.com/p_ViewVideo.aspx?xtid=36200
Effective ways to understand and organize data using descriptive statistics. Analyzing data collected from studies of young music students, the video helps viewers sort through basic data-interpretation concepts: measures of central tendency, levels of measurement, measures of dispersion, and graphs. A wide range of organization principles are covered, including mode, median, and mean; discrete and continuous data; nominal, ordinal, interval, and ratio data; standard deviation; and normal distribution. Animation and graphics clarify and reinforce each concept. The video concludes with a quick quiz to assess understanding and focus on key areas. A viewable/printable instructor’s guide is available online. WE DISCUSSED HOW TO DESIGN AN EXPERIMENT AND CONTROL VARIABLES IN OUR FIRST VIDEO. AND NOW WE'RE GOING TO LOOK AT WHAT TO DO WITH ALL THE DATA THAT HAS BEEN COLLECTED. AN EXPERIMENT IS ONE OF THE MOST POWERFUL WAYS TO SHOW THE CAUSE OF AN EVENT AND ITS EFFECT ON OTHER THINGS. BUT REMEMBER THAT AN INVESTIGATION CAN ONLY BE A SCIENTIFIC EXPERIMENT IF IT HAS AN INDEPENDENT VARIABLE WHICH IS MANIPULATED .
Mediation and Moderation Analyses and their AdvantagesIn both moAbramMartino96
Mediation and Moderation Analyses and their Advantages
In both moderation and mediation analyses, the researcher is seeking to better understand the relationship between an independent and dependent variable. Moderation can determine whether a third variable influences the strength of the relationship between an independent and dependent variable (Warner, 2013). The moderator variable might change the strength of the relationship from high to low. An example within the criminal justice field is if you expected that the number of crimes committed related to the number of convicted individuals sent to prison. However, that relationship may not always be true, and a variable such as type of crime may be a moderator. As a result, this analysis is advantageous in the criminal justice field because a major issue within criminology is studying how to control or prevent crime. If a researcher can determine which crimes are causal or correlational, then that will be a significant step for leaders who are trying to create policies which address crime.
In addition, another advantage is seeking to understand which crime problems persist in certain areas over long periods of time. This is accomplished in mediation analysis by using mediators as intervening variables that determine cause and effect between more than two other variables; within criminal justice, mediation can assist with the context of prevention and intervention studies, which can include conducting an analysis of the data to understand how or why an effect occurred (Fairchild & McDaniel, 2017). This can assist in determining if social issues may need to be addressed or if it is another matter. Then, police organizations can decide whether crimes are isolated or preventable. Therefore, mediation techniques provide a cautious way to gauge legacy effects where problems persist over generations (Pais, 2017).
Mediation analysis contains one mediator which facilitates the relationship between the independent and dependent variables. Mediation involves a set of causal hypotheses, wherein an initial causal variable may influence an outcome variable through a mediating variable (Warner, 2013). This mediator will help explain why the relationship between two things exists. A mediator variable should have some effect which causes an independent variable to lead to a change in outcome of the dependent variable. Therefore, by using a mediator variable, a researcher can determine if the influence of the mediator is stronger than the direct influence of the independent variable. This is advantageous because it can be useful when trying to consider if one issue is significantly related to a criminal justice issue or if the mediator is more heavily responsible.
The biggest advantage to using this analysis, particularly within criminal justice data, is that it can determine what factors are causing or correlating with crime issues. Thus, if a police organization can mitigate certain issues, they can lower ...
UNDERSTANDING DECISION/ GAME THEORY FOR BETTER RISK ASSESSMENT.Kaustav Lahiri
Comes from the theory of choicein economics, psychology, philosophy, mathematics, computer science, and statistics is concerned with identifying the values, uncertainties and other issues relevant in a given decision, its rationality, and the resulting optimal decision. It is closely related to the field of game theory; decision theory is concerned with the choices of individual agents whereas game theory is concerned with interactions of agents whose decisions affect each other.
Zach Wrote My employer has several methods for obtaining inform.docxransayo
Zach Wrote:
My employer has several methods for obtaining information from associates to help identify and solve problems, specifically interviews, surveys, and observations. Known as “fireside chats,” our one-on-one interview method randomly selects five different associates each month and provides them with a 45-minute, uninterrupted meeting with the executive director. During this interview, the executive director asks a series of predetermined questions developed to probe for honest and transparent opinions of issues and conditions within the community. Once those questions are discussed, the associate is given the opportunity to share any other items that were not mentioned previously. By randomly selecting a small number of associates each month, the issues developing in the community are shared from a cross-section of the team allowing for differing perspectives on the same concern.
Surveys are conducted annually or bi-annually to collect predetermined data for the purposes of (1) tracking progress on existing concerns and (2) identifying the manifestation of new concerns. The surveys come from the home office to address concerns that affect the entire company. Since there is a significant number of employees for whom English is a second language, the survey is offered in English and Spanish so as many people as possible can provide answers in their native tongue. Unfortunately, because many of employees are of low socio-economic status, distributing the survey electronically has mixed results – many employees do not have easy access to technology while others simply do not know who to use it. To help with this problem, employees are encouraged to complete surveys onsite using company tablets.
Finally, observations allow us “to collect data on actual behavior rather than reports of people’s behavior” (Anderson, 2016, p. 151). We do not use this a primary source of data gathering; rather, informal and formal observations give us the opportunity to confirm reports first-hand. Unofficially and informally, I will often observe goings-on to try identifying potential concerns so we can implement interventions before preemptively.
Reference:
Anderson, D. L. (20161108). Organization Development, 4th Edition [VitalSource Bookshelf version]. Retrieved from vbk://9781506363929
Odella Wrote:
I am an EHR program analyst. Part of my job description is to train the providers and front/back office on the database. Part of the organizational development is to collecting data, which is an essential and substantial step in this development. According to Anderson, 2020, p. 158, as a trainer, I used the surveys and questionnaires method. Before, I started at the organization, they did not have a functional training mechanism. When I built the training curriculum, I incorporated a survey that the employees would take. The survey consisted on the how, what and why of the training portion. The training that the employees received was essential to .
Any Topic Essay Scholarships. How to Write a Scholarship Essay in 10 Easy StepsHeidi Marshall
Learn How to Write a Truly Impressive Scholarship Essay!. 9+ Scholarship Essay Examples. How to Write a Scholarship Essay | Full Guide by HandMadeWriting. Scholarship Essay Examples - 10+ in PDF | Examples. Scholarship Essay Topics Tips. 002 Scholarship Essay Format Example Examples Free Pdf Download How To .... Writing a Scholarship Essay Writing the Scholarship Essay - [PDF Document]. How to Write a Scholarship Essay about Why You Deserve It + Scholarship .... samples of scholarship essays for college scholarship essay help best .... FREE 7+ Sample Scholarship Essay Templates in PDF | MS Word. Scholarship Essay Examples That Won Money | Format And Steps. Essay Scholarships Examples - Schoolarship. Amazing Short Essay Scholarships ~ Thatsnotus. FREE 9+ Scholarship Essay Samples in MS Word | PDF. Free Essay - 26+ Examples, Format, Pdf | Examples. Impressive Sample Scholarship Essays Based Financial Need ~ Thatsnotus. Write A "Tell Us About Yourself" Scholarship Essay (3 Examples .... Discover the Secrets in Writing and Using a Scholarship Essay Format. 011 Why Do You Deserve This Scholarship Essay Example ~ Thatsnotus. Scholarship Essay - 20+ Examples, Format, Pdf | Examples. How to Write a Scholarship Essay in 10 Easy Steps. Scholarship Essay Writing Guide [+Examples] | Pro Essay Help. #6 Best Tips For Writing A College Scholarship Essay - All Homework ....
ComFun6e_Ch03_C!.indd 66ComFun6e_Ch03_C!.indd 66 12/10/09 10:27:01 AM12/10/09 10:27:01 AM
A
ngela Savanti was 22 years old, lived at home with her mother, and was employed as a
secretary in a large insurance company. She . . . had had passing periods of “the blues”
before, but her present feelings of despondency were of much greater proportion. She
was troubled by a severe depression and frequent crying spells, which had not lessened
over the past two months. Angela found it hard to concentrate on her job, had great difficulty
falling asleep at night, and had a poor appetite. . . . Her depression had begun after she and
her boyfriend Jerry broke up two months previously.
(Leon, 1984, p. 109)
Her feelings of despondency led Angela Savanti to make an appointment with a
therapist at a local counseling center. The first step the clinician took was to learn
as much as possible about Angela and her disturbance. Who is she, what is her life
like, and what precisely are her symptoms? The answers might help to reveal the
causes and probable course of her present dysfunction and suggest what kinds of
strategies would be most likely to help her. Treatment could then be tailored to
Angela’s needs and particular pattern of abnormal functioning.
In Chapters 1 and 2 you read about how researchers in abnormal psychol-
ogy build a general understanding of abnormal functioning. Clinical practitioners
apply this broad information in their work, but their main focus when faced with
new clients is to gather idiographic, or individual, information about them
(Bornstein, 2007). To help persons overcome their problems, clinicians must fully
understand them and their particular difficulties. To gather such individual infor-
mation, clinicians use the procedures of assessment and diagnosis. Then they are in
a position to offer treatment.
jjClinical Assessment: How and Why
Does the Client Behave Abnormally?
Assessment is simply the collecting of relevant information in an effort to reach
a conclusion. It goes on in every realm of life. We make assessments when we
decide what cereal to buy or which presidential candidate to vote for. College
admissions officers, who have to select the “best” of the students applying to their
college, depend on academic records, recommendations, achievement test scores,
interviews, and application forms to help them decide (Sackett, Borneman, &
Connelly, 2008). Employers, who have to predict which applicants are most likely
to be effective workers, collect information from résumés, interviews, references,
and perhaps on-the-job observations.
Clinical assessment is used to determine how and why a person is behaving ab-
normally and how that person may be helped. It also enables clinicians to evaluate
people’s progress after they have been in treatment for a while and decide whether
the treatment should be changed. The hundreds of clinical assessment techniques
CLINICAL ASSESSMENT,
DI.
Essay on Emotions And Decision Making
The Process of Decision Making Essay
Decision Making
Decision-Making Model Analysis Essay example
Decision-Making Essay
Decision Making Models Essay example
Rational Decision Making Model Essay
Critical Thinking and Decision Making Essay
Essay on Business Decision Making
The Seven Step Model Of A Decision Making Model
Decision Making : An Evaluation
Essay on Decision Making
Biases in Decision Making
Problem-Solving and Decision-Making Essay
Essay on Decision Making
Clinical Decision Making Essay
Ethical Decision Making Essay
Reflective Essay On Decision Making
Nursing Decision-Making Essay
Evidence Based Decision Making Essay
What are the Principles and Drawbacks of Behavioral Economics.pdfAssignment Help
Behavioral economics, which is the field that lies at the intersection of psychology and economics, is of great value for economics students. It holds practical importance and involves different disciplines applications, and research opportunities. It is a tool that the policymakers use while they are decision-makers; it is a multidisciplinary approach. Behavioral economics also helps the stakeholders assess the policy while it plays a role in advancing research. However, economics students find assignments on this topic challenging for several reasons. It presupposes to mix of economics and psychology, calling for students to conduct investigations of both science and psychology. Being a complex topic it is tough for students to do assignments. Economics assignment help services provide accurate time management and quality assurance assistance to students with assignments for this study topic.
Effectiveness of the Counter-Cyclical Policies[due Mon 61019].docxtoltonkendal
Effectiveness of the Counter-Cyclical Policies
[due Mon 6/10/19]
Purpose of Assignment
This assignment addresses how both monetary and fiscal policies have been used during the so-called Great Recession, which began in December 2007 and ended in June 2009, to the present to moderate the business cycle.
Resources
Tutorial help on Excel and Word functions can be found on the Microsoft Office website. There are also additional tutorials via the web offering support for Office products.
Assignment Steps
Create a minimum 10- to 12-slide PowerPoint presentation, including detailed speaker notes, in which you analyze your choice of one the following markets or industries:
· The housing market
· Financial markets
· Commodity and stock markets
An industry of your choice, such as the automobile industry, the airline industry, retail trade, or any other major industry that suffered heavy losses during the Great Recession
Your analysis will extend from the beginning of the Great Recession, which was December 2007, to the present and should include the following:
An Excel workbook with the following datasets:
One dataset related to the U.S. housing industry such as housing starts, the FHFA housing price index, or another dataset of your choice related to the housing market.
One dataset related to personal or household income or to personal or household saving.
One dataset related to the labor market such as the unemployment rate, initial claims for unemployment insurance, or another dataset of your choice related to the U.S. labor force.
One dataset related to production and business activity within the market or industry you choose to analyze.
Find your datasets by using different internet data sources, including, but not limited to, the Federal Reserve Bank of St. Louis's FRED site, U.S. Dept. of Commerce's Bureau of Economic Analysis (BEA), U.S. Dept. of Labor's Bureau of Labor Statistics, U.S. Census Bureau, and The Organization for Economic Co-operation and Development (OECD). Using data results analyze the economic and sociological forces that drove the market equilibrium to unsustainable heights, commonly referred to as "bubbles," and the shocks that brought the markets back down.
Discuss specific changes in supply and demand within the markets and/or industries you chose to analyze.
Determine whether specialization of industry had any influence on the impact of the recession.
Examine prior government policies and legislation that might have exacerbated the impact of the shocks. Also, discuss government actions/regulations that might be undertaken, and/or have been undertaken, to moderate the effects of extreme economic fluctuations.
Evaluate the actions of the federal government (fiscal policy) and the Federal Reserve (monetary policy) to restore the economy and foster economic growth. Base your evaluation on information available at Internet sources such as, but not limited to, the Fed's The Economy Crisis and Response website as well as o.
1. Running head: FRAMING AND DECISION-MAKING 1
Effects of Framing and Social Stress on Financial Decision-Making
Brianna D. Burgess
University of Montana
2. FRAMING AND DECISION-MAKING 2
Abstract
[The abstract should be one paragraph of between 150 and 250 words. It is not indented. Section
titles, such as the word Abstract above, are not considered headings so they don’t use bold
heading format. Instead, use the Section Title style. This style automatically starts your section
on a new page, so you don’t have to add page breaks. Note that all of the styles for this template
are available on the Home tab of the ribbon, in the Styles gallery.]
Keywords: framing, prospect theory, risk-seeking, risk-aversion, stress
3. FRAMING AND DECISION-MAKING 3
Effects of Framing and Social Stress on Financial Decision-Making
For decades experts in psychology, economics, and political science (among others) have
been interested in human decision-making and the influence of framing. For example, imagine
that you are driving down the road and your fuel light comes on. There is one gas station on the
left side of the road and one on the right. The station on the right advertises gas for $2.00 per
gallon with a 5 cent discount for cash. The station on the left advertises gas for $1.95 per gallon
with a 5 cent surcharge for using a credit card. Holding all other factors about the stations the
same, which would you choose? It is likely that most people will choose the station that offers a
discount, assuming they are using cash.
This particular example illustrates the framing effect in a very simple, yet practical way.
People evaluate outcomes based on a change from their reference point which is usually their
current state. Outcomes are perceived as losses or gains and then decisions are made accordingly.
Because humans tend to treat losses more seriously than gains of an equivalent amount ($1.95
for cash at both stations or $2.00 for credit card), risk-averse decisions are made when the
possibility of a sure gain is included. Put more simply, people tend to be conservative when faced
with a sure gain versus a probabilistic gain, but the opposite is true when faced with a sure loss
versus a probabilistic loss.
This phenomenon by which an individual’s opinion or perception of an issue can be
altered by a simple change of words has been studied extensively, but most recently in the last
decade. Time and time again it has been shown that decision-making is influenced by an
individual’s current reference point and the way in which an issue is framed (Tversky &
Kahneman, 1981). Furthermore, decision-making is especially susceptible to various demands
exerted by the environment, otherwise known as stressors (Porcelli, 2009)
4. FRAMING AND DECISION-MAKING 4
The proposed study seeks to investigate the effect of framing and stress and risky
decision-making. Risky decision-making is defined as a tendency to make decisions that are risk-
seeking rather than risk-averse. Due to the large body of research already dedicated to the
framing effect, I intend to take the previous framing experiments a step further and add a
dimension of social stress. The logic behind this is that stress can significantly impair our
decision-making. I would like to know if stress makes individuals even more risk-seeking when
presented with a situation that is framed in terms of loss and if the same is true for a situation that
is framed in terms of a gain.
Before explaining the current proposal, it is necessary to briefly examine some popular
decision-making models in psychological and economic literature. First, rational choice models
of decision-making assert that an individual rationally considers all possible outcomes of a
situation and conducts a cost-benefit analysis internally before proceeding with a decision
(Porcelli, 2009). This theory assumes that people rationally navigate through the world making
decisions that will increase pleasure and decrease pain. According to Porcelli (2009), an
economic model of decision-making known as Expected Utility (EU) theory, predicts that
decision-makers always choose from alternatives by maximizing utility (reward value of a
decision’s outcome combined with the probability of that particular outcome coming to pass).
Essentially, it becomes necessary for an individual to have the capacity to perform a mental
computation that would provide the above-mentioned predicted value.
We now know through extensive research on human decision-making that we do not use
such rational choice models, but instead rely on irrational biases and automatic processing of
information. When faced with a decision-making task, humans often rely on their current
reference point or past experience to inform their choice. A hallmark study by Tversky and
5. FRAMING AND DECISION-MAKING 5
Kahneman (1981) demonstrated that the phrasing of a question (frame) can have a powerful
impact on subsequent decisions. Porcelli (2009) points out that in Tversky and Kahneman’s
experiment, participants were presented with two mathematically equivalent decisions about
treatment for a hypothetical disease outbreak. One treatment was framed as a possible gain and
another was framed as a possible loss which led to a clear decision-making bias.
It is my assumption that risk-seeking behavior will be statistically significantly greater
when stress is included with a negatively framed scenario. However, I hypothesize that when
faced with a scenario in terms of gains, individuals’ decision-making tendencies will not be
affected with the addition of stress.
Methods
Participants
One-hundred and twenty undergraduate students from the University of Montana will be
recruited to participate in the proposed experiment and will be granted course credit for their
participation. This sample size is consistent with most previous framing experiments and is large
enough to detect significant findings. Introduction to Psychology students will be used because
most are college freshman in the 18-21 year old age range. This sample is not only convenient
and cost effective, but I believe this sample will also help control for differences in cognitive
ability and life experience. I assume that students who are older will not only have more
knowledge but will also have more life experiences to influence the way they make decisions
and possibly bias the results I seek.
Materials/Design
The proposed study will utilize the standard protocol for the Tiered Social Stress Test to
induce stress onto subjects who are randomly assigned into the stress condition. A paper and
6. FRAMING AND DECISION-MAKING 6
pencil story about a disease outbreak (slightly modified from Tversky & Kahneman, 1981) will
also be used. The design of the proposed study is a 2 x 2 x 2 between-subjects factorial design (8
conditions). The first factor corresponds to the type of frame used (positive or negative), the
second factor is whether the TSST was given or not (stress or no stress), and the third factor is
whether the treatment was a sure or probabilistic option.
Procedure
In order to examine the effects of framing and stress on risky decision-making,
participants will first be randomly assigned to the stress condition or the control condition (n=60
in both levels) before the experiment takes place. Subjects in the control (no stress) condition
will be asked to wait in a closed-door cubicle until further notice while the subjects in the stress
condition are instructed to Although the TSST has been modified to meet the needs of various
research groups, it generally consists of a waiting period upon arrival, anticipatory speech
preparation, speech performance, and verbal arithmetic performance periods, followed by one or
more recovery periods.
Results
I believe that this study’s data will be consistent with previous research on the framing
effect and will logically follow the rationale behind the effects of acute stress on decision-
making.
Discussion
If my data collection goes according to plan, than I expect to reject my null hypothesis
and have evidence to support the alternative hypothesis that stress increases risky-decision
making. I believe that participants who are faced with an acute stressor will revert to automatic
processes that will lead to rasher and therefore riskier decisions. It is my assumption that the
7. FRAMING AND DECISION-MAKING 7
influence of stress (release of cortisol in HPA axis) will have a direct effect on an individual’s
ability to rationalize important financial decisions regardless of how it is framed. More
specifically, I propose that stress leads to risk-seeking behavior when a scenario is framed as a
possible gain and when the same scenario is framed as a possible loss. This assumption
contradicts current research on the influence of stress on decision-making.
This proposed study would therefore suggest that not only are human decisions often
grounded in irrational biases, but they are also influenced greatly by the presence of stress. On
one hand it seems that being stressed and being faced with an important decision would cause an
individual to slow down and truly weigh the costs and benefits of an outcome, but research
suggests that stress impairs our decision-making capacity regardless of the type of decision.
The proposed experiment clearly has numerous limitations as it is addressing multiple
complex issues. Stress and the stress response are still relatively understudied and are just
recently catching the attention of researchers around the world. Only in recent decades have
professionals realized the impact of stress and influence it exerts on our everyday life. As a result,
we are still learning about what is actually going on in the body when faced with an acute
stressor.
In addition, decision-making is a higher order cognitive process and is difficult to study
with naïve techniques. It appears that current research is taking a neuropsychological approach as
to determine the underpinnings of choice with brain imaging techniques.
The large body of research dedicated to framing and its effect on decision-making has come to
the same conclusion: The way that an issue is framed can determine a person’s response to that
issue.
9. FRAMING AND DECISION-MAKING 9
References
Tversky, A., & Kahneman, D. (1981). The framing of decisions and the psychology of choice.
Science, 211(4481), 453-458. Retrieved from http://www.jstor.org/stable/1685855
Druckman, J. (2001). Using credible advice to overcome framing effects. Journal of Law,
Economics, and Organization, 17, 62-82, doi:10.1093/jleo/17.1.62.
Gächter, S., Orzen, H., Renner, E., & Stamer, C. (2009). Are experimental economists prone to
framing effects? A natural field experiment. Journal of Economic Behavior &
Organization, doi:10.1016/j.jebo.2007.11.003.
Association for Psychological Science. (2009). Under pressure: The impact of stress on decision
making. Science Daily. Retrieved from
www.sciencedaily.com/releases/2009/09/090915174459.htm
Jacoby, W. G. (2000). Issue framing and public opinion on government spending. American
Journal of Political Science, 44(4), 750-767. Retreived from
http://doi.org/10.2307/2669279.
Joslyn, M. R., & Haider-Markel, D. (2002). Framing effects on personal opinion and perception
of public opinion: The cases of physician-assisted suicide and social security. Social
Science Quarterly, 83(3), 690-70, doi:http://dx.doi.org/10.1111/1540-6237.00109
Birkett, M. A. (2011). The trier social stress test protocol for inducing psychological stress.
Journal of Visualized Experiments, 56(3238). http://doi.org/10.3791/3238
Last Name, F. M. (Year). Article Title. Journal Title, Pages From - To.
Last Name, F. M. (Year). Book Title. City Name: Publisher Name.
10. FRAMING AND DECISION-MAKING 10
Tables
Table 1
Positive Frame
TSST Treatment A Treatment B
Stress .73 .27
No Stress .72 .28
Note: Column means: .725 > .275; main effect of type of gain (sure vs. probabilistic), Row
means: .5 = .5; no main effect of stress
Table 2
Negative Frame
TSST Treatment A Treatment B
Stress .15 .85
No Stress .25 .75
Note: Column means: .8 > .2; main effect of type of loss (sure vs. probabilistic), row means: .5
= .5; no main effect of stress
11. FRAMING AND DECISION-MAKING 11
Figures
Figure 1 & 2
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
Treatment A (risk-aversive) Treatment B (risk-seeking)
Negative Frame
Stress No Stress
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
Treatment A (risk-aversive) Treatment B (risk-seeking)
Positive Frame
Stress No Stress