Related papers: Does Anxiety Improve Economic Decision-Making?
We provide one of the first systematic assessments of the development and determinants of economic anxiety at the onset of the coronavirus pandemic. Using a global dataset on internet searches and two representative surveys from the US, we…
Working becomes harder as we grow tired or bored. I model individuals who underestimate these changes in marginal disutility -- as implied by "projection bias" -- when deciding whether or not to continue working. This bias causes people's…
In today's digital era, internet plays a pervasive role in our lives, influencing everyday activities such as communication, work, and leisure. This online engagement intertwines with offline experiences, shaping individuals' overall…
The problem of quantification of emotions in the choice between alternatives is considered. The alternatives are evaluated in a dual manner. From one side, they are characterized by rational features defining the utility of each…
The aesthetics of e-commerce websites have a big influence on purchasing decisions and customers' satisfaction. Webpage complexity and high cognitive load are responsible for causing an unpleasant experience while shopping online. This…
In economics literature, it is accepted that all people are rational and they try to maximize their utilities as possible as they can. In addition, economic theories are formed with the assumptions not suitable to real life. For instance,…
Decision-makers abhor uncertainty, and it is certainly true that the less there is of it the better. However, recognizing that uncertainty is part of the equation, particularly for deciding on environmental policy, is a prerequisite for…
In this chapter the complex systems are discussed in the context of economic and business policy and decision making. It will be showed and motivated that social systems are typically chaotic, non-linear and/or non-equilibrium and therefore…
We study the effects of introducing information inefficiency in a model for a random linear economy with a representative consumer. This is done by considering statistical, instead of classical, economic general equilibria. Employing two…
The long-term impact of algorithmic decision making is shaped by the dynamics between the deployed decision rule and individuals' response. Focusing on settings where each individual desires a positive classification---including many…
Explanatory information helps users to evaluate the suggestions offered by AI-driven decision support systems. With large language models, adjusting explanation expressions has become much easier. However, how these expressions influence…
We investigate the effects of stockholding on households' attention to the macroeconomy. Households' attentiveness is measured by their accuracy of inflation expectations and perceptions. Relative to non-stockholders, stockholders produce…
Decisions in organizations are about evaluating alternatives and choosing the one that would best serve organizational goals. To the extent that the evaluation of alternatives could be formulated as a predictive task with appropriate…
How do incentive levels affect strategic behaviour? We address this with an experiment that separately identifies own- and opponent-incentive effects in two dominance-solvable games that differ in strategic complexity. Higher own incentives…
Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature…
Analysis of stress, depression and engagement is less common and more complex than that of frequently discussed emotions such as happiness, sadness, fear and anger. The importance of these psychological states has been increasingly…
Rating-based summary statistics are ubiquitous in e-commerce, and often are crucial components in personalized recommendation mechanisms. Largely left unexplored, however, is the issue to what extent the descriptives of rating distributions…
People are increasingly turning to AI assistance for simple tasks, e.g., arithmetic, spell-check, and answering simple questions. But does AI assistance actually save users time and effort? We investigate people's propensity to use AI for…
Our hypothesis is that by equipping certain agents in a multi-agent system controlling an intelligent building with automated decision support, two important factors will be increased. The first is energy saving in the building. The second…
A tailor-made internet survey experiment provides individuals with information on their income positions to examine their effects on subjective well-being. In the first survey, respondents were asked about their household income and…