Behavioral-based algorithms for process model simplification

The analysis of processes, either by Business Process Management (BPM) or Process Mining (PM) techniques, has become a must for every organization in order to improve their performance. The role of the process model, a diagrammatic representation of the process, is crucial in most of the BPM and PM phases. During past years, the amount of process-related data that has been gathered by information systems has greatly increased. With more information and behavior related to the processes being recorded, the apparition of complex process models ---with hundreds of edges and activities--- has become more common, hindering the analysis of the process during most stages of BPM and PM. For this reason, the simplification of complex process models is a promising research field that can help the analysis of complex processes

Do Professional Traders Exhibit Myopic Loss Aversion? An Experimental Analysis

Two behavioral concepts, loss aversion and mental accounting, have been combined to provide a theoretical explanation of the equity premium puzzle. Recent experimental evidence supports the theory, as students-behavior has been found to be consistent with myopic loss aversion (MLA). Yet, much like certain anomalies in the realm of riskless decision-making, these behavioral tendencies may be attenuated among professionals. Using traders recruited from the CBOT, we do indeed find behavioral differences between professionals and students, but rather than discovering that the anomaly is muted, we find that traders exhibit behavior consistent with MLA to a greater extent than students.