We investigated the effects of news valence, the direction of trends in graphically presented price series, and the culture and personality of traders in a financial trading task. Participants were given 12 virtual shares of financial assets and asked to use price graphs and news items to...

Do people estimate current and future inflation by recalling how prices for specific products have changed? In an experiment carried out in 2019 when inflation was low and stable, we compared people’s direct estimates of inflation with indirect estimates obtained by averaging their estimates...

Although important both theoretically and practically, the nature of consumer economic expectation formation has been little studied, particularly by psychologists. The most relevant previous research suggests that expectations are based on a heuristic that results in them being significantly...

We investigated the effects of news valence, the direction of trends in graphically presented price series, and the culture and personality of traders in a financial trading task. Participants were given 12 virtual shares of financial assets and asked to use price graphs and news items to...

People overestimate their affective reactions to future events and decisions --- a phenomenon that has been termed ``impact bias.'' Evidence suggests that completing a diary detailing events contemporaneous with the focal one de-biases judgments of affect. It is generally assumed that this is...

According to Siegrist, Earle and Gutscher's (2003) model of risk communication, the effect of advice about risk on an agent's behavior depends on the agent's trust in the competence of the advisor and on their trust in the motives of the advisor. Trust in competence depends on how good the...

The Sharing Economy (SE) is a growing ecosystem focusing on peer-to-peer enterprise. In the SE the information available to assist individuals (users) in making decisions focuses predominantly on community generated trust and reputation information. However, how such information impacts user...

This paper deals with bounded rationality as a way to describe behavior and focuses on the question of how to build such boundedly rational models. The first part is a discussion of the reasons why such models are needed and on the situations in which they can be regarded as more particularly...