xDelia final report: emotion-centred financial decision making and learning

xDelia is a 3-year pan-European project building on the knowledge, skills, and competences of seven partner organisations from a variety of research disciplines and from business. The principal objective of xDelia is to develop technology-enhanced learning approaches that help improve the financial decision making of investors who trade frequently using an electronic trading platform. We focus on emotions, and how they affect maladaptive decision biases and trading performance. Our earlier field work with traders has shown that the development of emotion regulation skills is a key facet of trader expertise. For that reason we consider expert traders our benchmark for adaptive behaviour rather than normative rationality. Our goal is to provide investors with the tools and techniques to develop greater self-awareness of internal states, increase their ability to reflect critically on emotion-informed choices, develop emotion management skills, and support the transfer of these skills to the real-world practice setting of financial trading. This report provides a comprehensive overview of what xDelia is about and what we have achieved over the life of the project. In the sections that follow, we explain the decision problems investors are faced with in a fast paced environment and the limitations of traditional approaches to reduce cognitive errors; introduce an alternative, technology-enhanced learning approach of diagnosis and feedback, skill development, and transfer; describe the learning intervention comprising twelve autonomous learning elements that we have developed; and present evidence from thirty-five studies we have conducted on learning effects and stakeholder acceptance

Coping with Stigma: Challenges & Opportunities

This paper discusses several strategies for preventing technological stigma from causing unwarranted bias in public decision making

Active Learning: Effects of Core Training Design Elements on Self-Regulatory Processes, Learning, and Adaptability

This research describes a comprehensive examination of the cognitive, motivational, and emotional processes underlying active learning approaches, their effects on learning and transfer, and the core training design elements (exploration, training frame, emotion-control) and individual differences (cognitive ability, trait goal orientation, trait anxiety) that shape these processes. Participants (N = 350) were trained to operate a complex computer-based simulation. Exploratory learning and error-encouragement framing had a positive effect on adaptive transfer performance and interacted with cognitive ability and dispositional goal orientation to influence trainees’ metacognition and state goal orientation. Trainees who received the emotion-control strategy had lower levels of state anxiety. Implications for developing an integrated theory of active learning, learner-centered design, and research extensions are discussed

A proposed psychological model of driving automation

This paper considers psychological variables pertinent to driver automation. It is anticipated that driving with automated systems is likely to have a major impact on the drivers and a multiplicity of factors needs to be taken into account. A systems analysis of the driver, vehicle and automation served as the basis for eliciting psychological factors. The main variables to be considered were: feed-back, locus of control, mental workload, driver stress, situational awareness and mental representations. It is expected that anticipating the effects on the driver brought about by vehicle automation could lead to improved design strategies. Based on research evidence in the literature, the psychological factors were assembled into a model for further investigation

A model for providing emotion awareness and feedback using fuzzy logic in online learning

Monitoring users’ emotive states and using that information for providing feedback and scaffolding is crucial. In the learning context, emotions can be used to increase students’ attention as well as to improve memory and reasoning. In this context, tutors should be prepared to create affective learning situations and encourage collaborative knowledge construction as well as identify those students’ feelings which hinder learning process. In this paper, we propose a novel approach to label affective behavior in educational discourse based on fuzzy logic, which enables a human or virtual tutor to capture students’ emotions, make students aware of their own emotions, assess these emotions and provide appropriate affective feedback. To that end, we propose a fuzzy classifier that provides a priori qualitative assessment and fuzzy qualifiers bound to the amounts such as few, regular and many assigned by an affective dictionary to every word. The advantage of the statistical approach is to reduce the classical pollution problem of training and analyzing the scenario using the same dataset. Our approach has been tested in a real online learning environment and proved to have a very positive influence on students’ learning performance.Peer ReviewedPostprint (author's final draft

El impacto de la formación en línea en la transferencia de comportamiento y en el desempeño laboral en una gran organización

Este estudio analiza la efectividad de la formación en línea en una gran organización. Se ha probado la influencia de diferentes procesos de la formación, como las estrategias de aprendizaje, las reacciones, el apoyo a la transferencia y las barreras, en la transferencia del comportamiento y el desempeño laboral. Los participantes fueron 3,600 empleados de un banco público brasileño que participaron en una formación en línea en el trabajo. Seis meses después, sus supervisores evaluaron las influencias de la formación en el comportamiento laboral de sus subordinados. Los hallazgos indicaron que en la autoevaluación la transferencia del comportamiento se predijo mediante estrategias de aprendizaje de elaboración/aplicación práctica, reacciones a la formación, apoyo organizacional y de pares; las estrategias de control de la motivación, cognitivas/búsqueda de ayuda y elaboración/aplicación práctica, junto con las reacciones a la formación, se relacionaron significativamente con el desempeño laboral. En la heteroevaluación, el apoyo del supervisor contribuyó a explicar la transferencia del comportamiento y las estrategias cognitivas/búsqueda de ayuda explicaron el desempeño laboral. Se identificó el papel mediador de las reacciones a la formación y el apoyo a la transferencia mostró efectos moderadores marginales.This study analyzes the effectiveness of online training in a large organization. We tested the influence of different training processes, such as learning strategies, reactions, support of transfer, and barriers, on behavioral transfer and job performance. The participants were 3,600 employees of a Brazilian public bank after taking part in online training at work. Six months later, their supervisors evaluated the influences of the training on their subordinates’ work behaviors. Findings indicated that in self-evaluation behavioral transfer was predicted by elaboration/practical application learning strategies, trainees’ reactions to training, organizational, and peer support; motivation control, cognitive/help-seeking, and elaboration/practical application learning strategies, along with trainees’ reactions to training, were significantly related to job performance. In hetero-evaluation, supervisor support contributed to explaining behavioral transfer, and cognitive/help-seeking strategies explained job performance. The mediating role of reactions to training was identified, and support of transfer showed marginal moderating effects.Ministerio de Economía y Competitividad PSI2015-64894-

Managing in conflict: How actors distribute conflict in an industrial network

IMP researchers have examined conflict as a threat to established business relationships and commercial exchanges, drawing on theories and concepts developed in organization studies. We examine cases of conflict in relationships from the oil and gas industry's service sector, focusing on conflicts of interest and resources, and conflict as experienced by actors. Through a comparative case study design, we propose an explanation of how actors manage conflict and manage in conflict given that they tend to value and maintain relationships beyond episodes of exchange. We consider conflicts in relationships from a network perspective, showing that actors experienced these while adapting to changes in their business setting, modifying their roles in that network. By identifying conflict with the organizing forms of relationship and network, we show how actors formulate conflict through pursuing and combining a number of strategies, distributing the conflict across an enlarged network

Neural correlates of the affect heuristic during brand choice

In this working paper it is investigated how affect and cognition interact in consumer decision making. The research framework is multidisciplinary by applying a neuroscientific method to answer the question which information is processed during brand choice immediately when the decision is computed in the test person’s brain. In a neuroscientific experiment test persons perform binary decision-making tasks between different brands of the same product class. The results suggest that the presence of the respondent’s first choice brand leads to a specific modulation of the neural brain activity, which can be described as neural correlate of Slovic’s affect heuristic concept.Neuroeconomics, brand choice, cognition, affect