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Many of the observations we make are biased by our decisions. For instance, the demand of items is impacted by the prices set, and online checkout choices are influenced by the assortments presented. The challenge in decision-making under…
Consumers in many markets are uncertain about firms' qualities and costs, so buy based on both the price and the quality inferred from it. Optimal pricing depends on consumer heterogeneity only when firms with higher quality have higher…
For centuries quality of life was a subject of studies across different disciplines. However, only with the emergence of a digital era, it became possible to investigate this topic on a larger scale. Over time it became clear that quality…
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…
Everyone spends some time waiting every day. HCI research has developed tools for boosting productivity while waiting. However, little is known about how people naturally spend their waiting time. We conducted an experience sampling study…
We model the behavioral biases of human decision-making in securing interdependent systems and show that such behavioral decision-making leads to a suboptimal pattern of resource allocation compared to non-behavioral (rational)…
The new digital revolution of big data is deeply changing our capability of understanding society and forecasting the outcome of many social and economic systems. Unfortunately, information can be very heterogeneous in the importance,…
Recent studies have found evidence of a negative association between economic complexity and inequality at the country level. Moreover, evidence suggests that sophisticated economies tend to outsource products that are less desirable (e.g.…
This paper presents two cases of random banking data generators based on migration matrices and scoring rules. The banking data generator is a new hope in researches of finding the proving method of comparisons of various credit scoring…
We are witnessing an increasing use of data-driven predictive models to inform decisions. As decisions have implications for individuals and society, there is increasing pressure on decision makers to be transparent about their decision…
We present a graph-theoretic model of consumer choice, where final decisions are shown to be influenced by information and knowledge, in the form of individual awareness, discriminating ability, and perception of market structure. Building…
Observation of other people's choices can provide useful information in many circumstances. However, individuals may not utilize this information efficiently, i.e., they may make decision-making errors in social interactions. In this paper,…
The feeling of good or bad luck occurs whenever there is an emotion contrast between an event and an easily accessible counterfactual alternative. This study suggests that cognitive simplicity plays a key role in the human ability to…
The psychological costs of the attention economy are often considered through the binary of harmful design and healthy use, with digital well-being chiefly characterised as a matter of personal responsibility. This article adopts an…
Research has proven that stress reduces quality of life and causes many diseases. For this reason, several researchers devised stress detection systems based on physiological parameters. However, these systems require that obtrusive sensors…
Artificial intelligence improves enterprise decision-making by accelerating data analysis, reducing human error, and supporting evidence-based choices. A quantitative survey of 92 companies across multiple industries examines how AI…
We can overcome uncertainty with uncertainty. Using randomness in our choices and in what we control, and hence in the decision making process, could potentially offset the uncertainty inherent in the environment and yield better outcomes.…
Opportunities, such as access to education or family background, shape income inequality by influencing the chances of economic success. Unequal opportunities create uncertainty about whether success is merit- or luck-based. We examine how…
The increasing prominence of Socially Responsible Consumers has brought about a heightened focus on the ethical, environmental, social, and ideological dimensions influencing product purchasing decisions. Despite this emphasis, studies have…
We find it is common for consumers who are not in financial distress to make credit card payments at or close to the minimum. This pattern is difficult to reconcile with economic factors but can be explained by minimum payment information…