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Prospect Theory: Choice Blindness – What are we forgetting?

http://www.prospecttheory.net/2009/01/choice-blindness-what-are-we-forgetting.html

Exploring the intersection of innovation and psychology. Thursday, January 29, 2009. Choice Blindness – What are we forgetting? MIT is currently in its Independent Activities Period ( IAP. 8221; (esoteric but mind-bendingly interesting). Yesterday in the cognitive philosophy course we covered research by Petter Johansson. And his colleagues from Lund University. In a 2005 Science paper entitled “ Failure to Detect Mismatches between Intention and Outcome in a Simple Decision Task. Why does this happen?

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Prospect Theory: N-Effect Review: Part Two

http://www.prospecttheory.net/2009/03/n-effect-review-part-two.html

Exploring the intersection of innovation and psychology. Monday, March 2, 2009. N-Effect Review: Part Two. In this second installment of a three part series, I explore alternatives to Stephen M. Garcia. 8217;s “N-Effect” theory and suggest several additional studies that would help solidify the research findings. Multiple additional studies could be run to more clearly demonstrate the N-Effect and rule out alternative explanations. Direct Measures of Motivation:. Ratio Bias on Stimulus:. Study 4 looks at...

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Prospect Theory: December 2008

http://www.prospecttheory.net/2008_12_01_archive.html

Exploring the intersection of innovation and psychology. Tuesday, December 30, 2008. If the research community at large is not already well aware of it, I recommend taking a moment to check out Amazon’s Mechanical Turk. For its data collection potential. Like the historical chess playing “machine” Turk. Written about previously in this blog. Justin M. Cook. Subscribe to: Posts (Atom). New Interview (Recorded Live). Chicago GSB Center for Decision Research. Society for Consumer Psychology.

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Prospect Theory: BITH: Buying Behavior

http://www.prospecttheory.net/2008/10/bith-buying-behavior.html

Exploring the intersection of innovation and psychology. Saturday, October 25, 2008. Behavior in the Headlines: Harvard Economics Professor Roland Fryer. Has an idea to boost performance in our failing schools – pay the students. A new program called Capital Gains. Take for example Uri Gneezy. 8217;s study on an undesirable practice of day care center parents. In their resulting paper, “ A Fine is a Price. In his new book Predictably Irrational. Justin M. Cook. Subscribe to: Post Comments (Atom). Competi...

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Prospect Theory: November 2008

http://www.prospecttheory.net/2008_11_01_archive.html

Exploring the intersection of innovation and psychology. Thursday, November 20, 2008. The Society for Judgment and Decision Making. Held its annual conference this past weekend in beautiful (but cold) downtown Chicago. Roughly 500 researchers from around the world gathered to discuss the latest findings in the JDM realm. This was my second conference and it did not disappoint. One talk that caught my attention was entitled “Will a Rose Smell as Sweet by Another Name? Justin M. Cook. On November 4 th.

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Prospect Theory: BITH: Buying Behavior Part Two

http://www.prospecttheory.net/2009/01/bith-buying-behavior-part-two.html

Exploring the intersection of innovation and psychology. Saturday, January 3, 2009. BITH: Buying Behavior Part Two. Sums up the results quite nicely:. 8220;[The study] …placed adult dieters into three groups. One group entered a daily lottery and received winnings only if they reached their targeted weight levels. A second group invested their own money, but lost it if they didn't meet their goals. The third group was given no monetary incentive at all. The goal: lose a pound a week over 16 weeks. Explan...

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Prospect Theory: Justifying the Unjustifiable

http://www.prospecttheory.net/2008/09/justifying-unjustifiable.html

Exploring the intersection of innovation and psychology. Wednesday, September 17, 2008. Several weeks ago I met with Columbia University Marketing Professor Leonard Lee. Over a fantastic pistachio milkshake at Tom’s Café (of Seinfeld fame), we got on the topic of moral decision-making research. Leonard suggested that I read an older paper by Chicago Professor Christopher Hsee. The paper, “ Elastic justification: How unjustifiable factors influence judgments. The paper’s findings stand out because t...

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Prospect Theory: ID the Elasticity

http://www.prospecttheory.net/2009/02/id-elasticity.html

Exploring the intersection of innovation and psychology. Wednesday, February 18, 2009. Now, does the order in which the feature information is presented make any difference? For instance, if instead you were told first about the genre, then the actors, and then the director would you make a different choice of film than in the original scenario? Could you find yourself spending the weekend with The Wedding Crashers instead of Apocalypse Now simply because the order changed? By J Edward Russo. Note that I...

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Prospect Theory: N-Effect Review: Part One

http://www.prospecttheory.net/2009/02/n-effect-review-part-one.html

Exploring the intersection of innovation and psychology. Wednesday, February 25, 2009. N-Effect Review: Part One. Does the number of people in a competition influence competitive motivation? If so, would additional competitors likely increase or decrease motivation? Research by Stephen M. Garcia. Attempts to answer these questions. Their resulting paper in Psychological Science entitled “ The N-Effect: More Competitors, Less Competition. Study number followed by dependent variable:. 4- Self Reported Comp...

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Prospect Theory: N-Effect Review: Part Three – Conclusion

http://www.prospecttheory.net/2009/03/n-effect-review-part-three-conclusion.html

Exploring the intersection of innovation and psychology. Monday, March 9, 2009. N-Effect Review: Part Three – Conclusion. Over the last two postings I have been reviewing Stephen M. Garcia and Avishalom Tor’s “ N-Effect. 8221; In this third and concluding posting I give my verdict on the N-Effect and provide some additional research ideas for further work in the social comparison space. A note to readers: This series is best read starting with Part One. Advancing the Broader Research Agenda. What interve...