Do Investment Risk Tolerance Attitudes Predict Portfolio Risk?

We investigated a new instrument designed to assess investment risk tolerance, the Risk Tolerance Questionnaire (RTQ). RTQ scores were positively correlated with scores on two other investment risk measures, but were not correlated with a measure of sensation-seeking (Zuckerman, 1994), suggesting that investment risk tolerance is not explainable by a general cross-domain appetite for risk. Importantly, RTQ scores were positively correlated with the riskiness of respondents’ actual investment portfolios, meaning that investors with high risk-tolerance score tend to have higher-risk portfolios. Finally, respondents with relatively more investment experience had more risk-tolerant responses and higher-risk portfolios than less experienced investors.

Adaptive memory: nature's criterion and the functionalist agenda

Memory researchers traditionally ignore function in favor of largely structural analyses. For example, it is well known that forming a visual image improves retention, and various proximate mechanisms have been proposed to account for the advantage (e.g., elaboration of the memory trace), but next to nothing is known about why memory evolved such sensitivities. Why did nature craft a memory system that is sensitive to imagery or the processing of meaning? Functional analyses are critical to progress in memory research for two main reasons: First, as in applied research, functional analyses provide the necessary criteria for measuring progress; second, there are good reasons to believe that modern cognitive processes continue to bear the imprint of ancestral selection pressures (i.e., cognitive systems are functionally designed). We review empirical evidence supporting the idea that memory evolved to enhance reproductive fitness; as a consequence, to maximize retention in basic and applied settings it is useful to develop encoding techniques that are congruent with the natural design of memory systems.     

College students’ perceptions of calling in work and life: A qualitative analysis

This study examined open-ended responses from 295 college students to questions regarding how they define the construct of calling, how having a calling influences their career development, and the extent to which the term “calling” may apply to areas of life other than work. Results indicated that students perceived a calling as originating from guiding forces, co-occurring with unique fit and well-being, having altruistic features, and extending to multiple life roles. These results largely support recent conceptualizations of calling in the career development literature, and suggest themes to explore in counseling with clients who desire to approach work as a calling.     

Memory specificity as a risk factor for suicidality in non-affective psychosis: The ability to recall specific autobiographical memories is related to greater suicidality

A difficulty in recalling specific autobiographical memories has been noted as a risk factor for suicidal behaviour. However, the relationship between memory specificity and suicide has not previously been investigated in those with non-affective psychosis. It was predicted that in this group, more specific memory recall would be associated with an increased risk of suicide. This is because such specific memories are likely to be associated with greater levels of distress and negative affect than less specific memories. This prediction contradicts the prevailing belief that lower memory specificity is associated with greater suicidality. Sixty participants with schizophrenia spectrum disorders were recruited, 40 of whom reported past suicide attempts. Analyses showed suicide attempters recalled a greater proportion of specific memories, whilst controlling for trait anxiety and depressive symptoms. These results supported the main hypothesis, and suggest non-specific memory may have adaptive qualities in individuals with psychosis.     

Targeting the probability versus cost of feared outcomes in public speaking anxiety

Cognitive-behavioral theory suggests that social phobia is maintained, in part, by overestimates of the probability and cost of negative social events. Indeed, empirically supported cognitive-behavioral treatments directly target these cognitive biases through the use of in vivo exposure or behavioral experiments. While cognitive-behavioral theories and treatment protocols emphasize the importance of targeting probability and cost biases in the reduction of social anxiety, few studies have examined specific techniques for reducing probability and cost bias, and thus the relative efficacy of exposure to the probability versus cost of negative social events is unknown. In the present study, 37 undergraduates with high public speaking anxiety were randomly assigned to a single-session intervention designed to reduce either the perceived probability or the perceived cost of negative outcomes associated with public speaking. Compared to participants in the probability treatment condition, those in the cost treatment condition demonstrated significantly greater improvement on measures of public speaking anxiety and cost estimates for negative social events. The superior efficacy of the cost treatment condition was mediated by greater treatment-related changes in social cost estimates. The clinical implications of these findings are discussed.