(Phys.org) —Centuries of economic theory have been based on one simple premise: when given a choice between two items, people make the rational decision and select the one they value more. But as with many simple premises, ...
Social Sciences
Oct 22, 2013
2
0
New research may explain why we sometimes overvalue items we've acquired—to an irrational degree—irrespective of their market or sentimental value. This phenomenon is called the endowment effect, and researchers have ...
Evolution
May 28, 2020
0
406
In a new collaborative study, PIK Professor Michael Platt models how the decision-making process unfolds in the brains of buyers and sellers considering a deal. These decisions were observable in eye movements and pupil dilation.
Economics & Business
Sep 4, 2023
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11
Financial transactions between people who speak different native languages are more common than ever with more than one in five Americans speaking a language other than English at home. But finding a price that buyers and ...
Economics & Business
Oct 30, 2019
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3
Sons of fathers with high incomes tend to end up with higher than average incomes themselves, but new research shows that it's not just dad's money that helps a son on his way.
Economics & Business
Jun 21, 2012
3
0
Groundbreaking new research in the field of "evolutionary analysis in law" not only provides additional evidence that chimpanzees share the controversial human psychological trait known as the endowment effect – which ...
Plants & Animals
Jul 5, 2012
2
0
Technology has enabled the creation of a vast and growing amount of information, leading to benefits (e.g., more data to learn from) as well as drawbacks (e.g., the spread of fake news and conspiracy theories). New research ...
Social Sciences
Aug 17, 2022
0
544
(Phys.org)—Sons of fathers with high incomes tend to end up with higher than average incomes themselves, but new research shows that it's not just dad's money that helps a son on his way.
Social Sciences
Aug 29, 2012
0
0
When you are asked to create a password – either for a new online account or resetting login information for an existing account – you're likely to choose a password you know you can remember. Many people use extremely ...
Security
Feb 14, 2019
0
6
Parting with personal items can be a daunting task, often leading to frustration, unhappiness and even a sense of loss.
Social Sciences
Feb 16, 2023
0
52
