Similarity and reluctance to trade

Previous research has shown that after decision makers are endowed with an object, they are reluctant to trade it for an alternative item. This endowment effect can be explained by loss aversion, the tendency to weight losses more heavily than gains. Consequently, there is no reluctance to trade when no true loss is involved. Four studies investigated whether reluctance to trade declines when the trade involves less of a loss—specifically, when one item is traded for another very similar item. Three experiments did not reveal a relation between willingness to trade and the similarity between the two items being traded. A fourth experiment, however, indicated that subjects were quite willing to trade for an identical item, less willing to trade for a similar item, and even less willing to trade for a dissimilar item. Thus, reluctance to trade decreased as the similarity between the endowment and the alternative increased. This result suggests that loss aversion is a function not only of the item being lost but also of the trade itself—that is, of the relation between the two items being traded. © 1998 John Wiley & Sons, Ltd.     

The influence of number line estimation precision and numeracy on risky financial decision making

This study examined whether different aspects of mathematical proficiency influence one's ability to make adaptive financial decisions. “Numeracy” refers to the ability to process numerical and probabilistic information and is commonly reported as an important factor which contributes to financial decision‐making ability. The precision of mental number representation (MNR), measured with the number line estimation (NLE) task has been reported to be another critical factor. This study aimed to examine the contribution of these mathematical proficiencies while controlling for the influence of fluid intelligence, math anxiety and personality factors. In our decision‐making task, participants chose between two options offering probabilistic monetary gain or loss. Sensitivity to expected value was measured as an index for the ability to discriminate between optimal versus suboptimal options. Partial correlation and hierarchical regression analyses revealed that NLE precision better explained EV sensitivity compared to numeracy, after controlling for all covariates. These results suggest that individuals with more precise MNR are capable of making more rational financial decisions. We also propose that the measurement of “numeracy,” which is commonly used interchangeably with general mathematical proficiency, should include more diverse aspects of mathematical cognition including basic understanding of number magnitude.     

Effects of children’s hearing loss on the synchrony between parents’ object naming and children’s attention

Children’s attentional state during parent-child interactions is important for word learning. The current study examines the real-time attentional patterns of toddlers with and without hearing loss (N = 15, age range: 12–37 months) in parent-child interactions. High-density gaze data recorded from head-mounted eye-trackers were used to investigate the synchrony between parents’ naming of novel objects and children’s sustained attention on the named objects in joint play. Results show that the sheer quantities of parents’ naming and children’s sustained attention episodes were comparable in children with hearing loss and their peers with normal hearing. However, parents’ naming and children’s sustained attention episodes were less synchronized in the hearing loss group compared to children with normal hearing. Possible implications are discussed.     

塞勒关于行为金融学的实证研究及其理论贡献

理查德·塞勒(Richard H. Thaler)是行为金融学的主要创建者。全文按照行为金融学的发展脉络, 在简单介绍了行为金融学诞生的前提条件及理论基础之后, 详细介绍了塞勒等学者关于股票的输家-赢家效应、封闭式基金之谜以及股权溢价之谜的实证研究及其理论观点, 展示了塞勒等学者如何巧妙地以真实金融市场上的产品以及投资者的行为为样本, 通过对这些数据的挖掘、提炼以及模拟, 揭示出投资者的信念、情绪等心理因素是导致上述金融“异象”的主要原因。对这些现象的研究, 使得塞勒脱离了传统金融学研究的窠臼, 倡导了金融学研究中关注个体行为及心理因素的研究取向, 促成了行为金融学的发展与壮大。     

社会距离与分配差距对儿童有利不公平厌恶的影响

选取60名8-10岁儿童,采用迫选式独裁者游戏,考察个体与博弈对象的社会距离以及分配差距对儿童有利不公平厌恶的影响。结果发现：（1）在有利不公平条件下,与博弈对象社会距离越近,儿童对不公平分配提议的拒绝率越高;（2）分配差距越大,儿童对不公平分配提议的拒绝率越高;（3）社会距离和分配差距交互作用显著,在中等分配差距条件下,儿童对不公平分配提议拒绝率的社会距离效应最为明显。结果表明,社会距离和分配差距对儿童有利不公平厌恶有显著影响,在中度分配差距下社会距离具有更加明显的调节作用。     

Exploration of likely engagement with Monetary Contingency Contracts for weight loss: a questionnaire study

Monetary Contingency Contracts (MCCs) are schemes that ask individuals to pledge money that is returned contingent on behaviour change. In relation to weight loss, this study explored likely levels of engagement with MCCs, how much individuals would be willing to pay into an MCC, and how these amounts vary under different contract conditions. Fifty-six individuals with BMI above 25 who were motivated to lose weight were recruited. The majority of participants (87.5%) indicated that they would be willing to engage with weight loss MCCs, but showed more reluctance to subscribe to pair-based MCCs which offered; (a) refunds contingent on the weight loss of a weight loss partner, and (b) ‘all or nothing refunds’ in which no reward is given for any weight loss below the target weight loss goal. This study provides preliminary evidence that individuals motivated to lose weight may be willing to engage with weight loss MCCs. Further research is needed to explore reasons for reluctance to subscribe to MCCs with certain conditions, to inform the design of future experimental studies testing the efficacy of MCCs as part of an intervention for weight loss.     

Goodbye,Daddy: An Autoethnographic Journey Through the Grief and Mourning Process

The purpose of this article is to present an autoethonographic study in how I experienced and communicated parts of the mourning process when my father died at the age of 73. The article highlights the stages of grief experienced during the first year. Autoethnographic means are used chronologically to explore how the loss of a family member impacts the stages of grief that are present and how they overlap. In particular, I highlight the events that carried meaning or provided an outlet to express one of the stages of grief. It is hoped that this article can be used to understand why grieving is not an overnight process, but rather is drawn out through the highs and lows of remembering a loved one.     

Exposure,Loss, and Support Predicting the Dimensions of Posttsunami Trauma

This study examined whether exposure, resource loss, and social support predicted the posttsunami trauma of PTSD, depression, negative affect, and physical health problems of the 2004 tsunami survivors. Four hundred sixteen survivors were interviewed in Tamil Nadu (India) 14 months posttsunami. Loss of life followed by loss of property and disaster exposure positively predicted the dimensions of trauma. Survivors having lower social status and income received less material and informational support than their equally affected counterparts, which furthered stress and distress. The survivors’ trauma can be arrested, minimizing the exposure and tangible resource loss, and improving the delivery of social support.     

The assessment of knowledge and learning in competence spaces: The gain–loss model for dependent skills

The gain–loss model (GaLoM) is a formal model for assessing knowledge and learning. In its original formulation, the GaLoM assumes independence among the skills. Such an assumption is not reasonable in several domains, in which some preliminary knowledge is the foundation for other knowledge. This paper presents an extension of the GaLoM to the case in which the skills are not independent, and the dependence relation among them is described by a well‐graded competence space. The probability of mastering skill s at the pretest is conditional on the presence of all skills on which s depends. The probabilities of gaining or losing skill s when moving from pretest to posttest are conditional on the mastery of s at the pretest, and on the presence at the posttest of all skills on which s depends. Two formulations of the model are presented, in which the learning path is allowed to change from pretest to posttest or not. A simulation study shows that models based on the true competence space obtain a better fit than models based on false competence spaces, and are also characterized by a higher assessment accuracy. An empirical application shows that models based on pedagogically sound assumptions about the dependencies among the skills obtain a better fit than models assuming independence among the skills.