Experimental tests of the mean-variance model for portfolio selection

Statistically knowledgeable male and female undergraduate students participated in 40 portfolio selection problems with monetary payoff contingent on performance. The portfolio selection task included two independent risky assets with normally distributed returns. It provided access to information about previous returns, allowed borrowing and lending at a fixed interest rate, and forced on each decision period a choice between the two risky assets. The findings show a high percentage of inefficient mean-variance portfolios which does not decrease with practice, a high rate of requests for useless information, a large frequency of switches between the two risky assets, and sequential dependencies. Theoretical and practical implications of the findings are briefly discussed.     

Barriers and Facilitators to Implementing Attachment-based Family Therapy into a Child Welfare Setting: A Qualitative Process Evaluation

Child welfare systems (CWSs) worldwide show increased interest in adopting empirically informed clinical strategies to increase treatment effectiveness. Many empirically supported treatments (ESTs) exist, but little is known about EST implementation barriers and facilitators in CWS. This study explored CWS providers’ experiences of implementing attachment-based family therapy (ABFT) in home-based services of the Flemish CWS (in Belgium). Sixteen CWS providers (twelve counselors and four supervisors) involved in three home-based services were interviewed. The Consolidated Framework for Implementation Research (CFIR) was used to guide collection, coding, and analysis of interview data. Findings revealed that implementation success was related to ABFT's fit with the CWS's mission, philosophy, and existing practices. CWS providers’ belief in the compatibility between ABFT and CWS increased investment in implementation efforts and persistence to overcome challenges and setbacks. Some barriers pertained to the learning of ABFT and some barriers pertained to systems level challenges such as lack of leadership and support, poor coordination with referral sources and other youth care partners, and lack of policy support. For successful expansion of ESTs into CWS settings, various barriers at multiple systemic levels need to be addressed.     

The intergenerational effects of trauma from terror: A real possibility

The goals of this article are to discuss the potential risk of children whose parents were traumatized by terror, to present literature on parenting in the context of terror, and to consider factors that may mediate the transmission of trauma‐effects from parents to children. Mediators considered are parents' traumatic distress, disturbed parent–child interactions, trauma‐related disturbances in parents' thinking, and effects of stress on children's neural functioning. Also discussed are genetic and environmental factors that may moderate the transmission of intergenerational effects and promote children's risk and resilience. Points raised during the discussion are illustrated with segments from interviews of women who were pregnant or gave birth some time after direct exposure to a terror attack. The authors conclude that empirical studies are needed to learn more about the intergenerational transmission of trauma‐effects and processes that underlie it. The authors join others in the call to improve evaluation, treatment, and support of trauma victims and their children to stymie the transmission of problems from one generation to the next.     

Causal Thinking After a Tsunami Wave: Karma Beliefs,Pessimistic Explanatory Style and Health Among Sri Lankan Survivors

In 2004, one of the largest earthquakes ever recorded led to a tsunami devastating two-thirds of the Sri Lankan coastline. We examined whether certain causal beliefs (attributional style and karma, a Buddhist concept used to explain bad events) are associated with tsunami survivors experiencing PTSD and poor health about six months later. Previous studies of causal beliefs associated with illness following the same traumatic event have focused on Western countries and none have considered the role of karma. We interviewed 264 Sri Lankan tsunami survivors. As predicted, we found that belief in karma and a pessimistic explanatory style are independently associated with poor health and a pessimistic explanatory style is associated with PTSD, after adjusting for relevant factors. Thus, both universal and more culturally specific beliefs may contribute to coping following a natural disaster.

Rethinking neuroethics in the light of the extended mind thesis

The extended mind thesis is the claim that mental states extend beyond the skulls of the agents whose states they are. This seemingly obscure and bizarre claim has far-reaching implications for neuroethics, I argue. In the first half of this article, I sketch the extended mind thesis and defend it against criticisms. In the second half, I turn to its neuroethical implications. I argue that the extended mind thesis entails the falsity of the claim that interventions into the brain are especially problematic just because they are internal interventions, but that many objections to such interventions rely, at least in part, on this claim. Further, I argue that the thesis alters the focus of neuroethics, away from the question of whether we ought to allow interventions into the mind, and toward the question of which interventions we ought to allow and under what conditions. The extended mind thesis dramatically expands the scope of neuroethics: because interventions into the environment of agents can count as interventions into their minds, decisions concerning such interventions become questions for neuroethics.     

Inhibiting your native language: the role of retrieval-induced forgetting during second-language acquisition

After immersion in a foreign language, speakers often have difficulty retrieving native-language words--a phenomenon known as first-language attrition. We propose that first-language attrition arises in part from the suppression of native-language phonology during second-language use, and thus is a case of phonological retrieval-induced forgetting. In two experiments, we investigated this hypothesis by having native English speakers name visual objects in a language they were learning (Spanish). Repeatedly naming the objects in Spanish reduced the accessibility of the corresponding English words, as measured by an independent-probe test of inhibition. The results establish that the phonology of the words was inhibited, as access to the concepts underlying the presented objects was facilitated, not impaired. More asymmetry between English and Spanish fluency was associated with more inhibition for native-language words. This result supports the idea that inhibition plays a functional role in overcoming interference during the early stages of second-language acquisition.     

Theory and Practice: Assessing the psychological presentation of gifted and talented clients: a multicultural perspective

Researchers suggest that gifted individuals have both strengths and areas of intrapersonal and interpersonal concerns as a result of their talents. The purpose of this paper is to apply a multicultural model of psychological assessment, the Multicultural Assessment Procedure (MAP), to better understand the social and emotional needs of gifted clients. This application is based on the following assumptions: a) giftedness is a sub-culture, b) people with special gifts also identify with and operate in multiple cultural contexts, and c) in order to be effective in working with gifted clients, one must accurately understand the interaction of the client’s multiple cultural identities. Implications for counselling practice are discussed.     

Applications of Prospect Theory to Political Science

Prospect theory is an alternative theory of choice under conditions of risk, and deviates from expected utility theory by positing that people evaluate choices with respect to gains and losses from a reference point. They tend to overweight losses with respect to comparable gains and engage in risk-averse behavior with respect to gains and risk-acceptant behavior with respect to losses. They also respond to probabilities in a non-linear manner. I begin with an overview of prospect theory and some of the evidence upon which it is based, and then consider some of the implications of the theory for American politics, international relations, and the law. I end with a brief discussion of some of the conceptual and methodological problems confronting the application of prospect theory to the study of politics.