Related papers: Culture and the disposition effect
In economics and psychology, delay discounting is often used to characterize how individuals choose between a smaller immediate reward and a larger delayed reward. People with higher delay discounting rate (DDR) often choose smaller but…
Faced with uncertainty in decision making, individuals often turn to their social networks to inform their decisions. In consequence, these networks become central to how new products and behaviors spread. A key structural feature of…
Fashion is intertwined with external cultural factors, but identifying these links remains a manual process limited to only the most salient phenomena. We propose a data-driven approach to identify specific cultural factors affecting the…
The dynamics of many socioeconomic systems is determined by the decision making process of agents. The decision process depends on agent's characteristics, such as preferences, risk aversion, behavioral biases, etc.. In addition, in some…
In many work environments, serendipitous interactions between members of different groups may lead to enhanced productivity, collaboration and knowledge dissemination. Two factors that may have an influence on such interactions are cultural…
We investigate a group choice problem of agents pursuing social status. We assume heterogeneous agents want to signal their private information (ability, income, patience, altruism, etc.) to others, facing tradeoff between "outside status"…
Deceptive game designs that manipulate players are increasingly common in the gaming industry, but the impact on players is not well studied. While studies have revealed player frustration, there is a gap in understanding how cultural…
Excessive leverage, i.e. the abuse of debt financing, is considered one of the primary factors in the default of financial institutions. Systemic risk results from correlations between individual default probabilities that cannot be…
Smoking of tobacco is predicted to cause approximately six million deaths worldwide in 2014. Responding effectively to this epidemic requires a thorough understanding of how smoking behaviour is transmitted and modified. Here, we present a…
Individuals' behavior in economic decisions depends on such factors as ethnicity, gender, social environment, personal traits. However, the distinctive features of decision making have not been studied properly so far between indigenous…
Humans interact with each other on a daily basis by developing and maintaining various social norms and it is critical to form a deeper understanding of how such norms develop, how they change, and how fast they change. In this work, we…
Divergent cumulative cultural evolution occurs when the cultural evolutionary trajectory diverges from the biological evolutionary trajectory. We consider the conditions under which divergent cumulative cultural evolution can occur. We…
Why do some investors delegate financial decisions to supposed experts? We report a laboratory experiment designed to disentangle four possible motives. Almost 600 investors drawn from the Prolific subject pool choose whether or not to…
This empirical research explores the impact of age on nationality bias. World Cup competition data suggest that judges of professional ski jumping competitions prefer jumpers of their own nationality and exhibit this preference by rewarding…
This paper presents a semi-quantitative mathematical model of the changes over time in the statistical distribution of well-being of individuals in a society. The model predicts that when individuals overvalue the more socially conspicuous…
Inertia and context-dependent choice effects are well-studied classes of behavioural phenomena. While much is known about these effects in isolation, little is known about whether one of them "dominates" the other when both can potentially…
Understanding the mechanisms underlying the formation of cultural traits, such as preferences, opinions and beliefs is an open challenge. Trait formation is intimately connected to cultural dynamics, which has been the focus of a variety of…
Understanding consumer emotional experiences on e-commerce platforms is essential for businesses striving to enhance customer engagement and personalisation. Recent research has demonstrated that these experiences are more intricate and…
Tourism's increasing share of Gross Domestic Product throughout the world, its impact on employment and its continuous growth justifies the interest it raises amongst entrepreneurs and public authorities. However, this growth coexists with…
As the utilization of large language models (LLMs) has proliferated world-wide, it is crucial for them to have adequate knowledge and fair representation for diverse global cultures. In this work, we uncover culture perceptions of three…