Teams Make You Smarter: Learning and Knowledge Transfer in Auctions and Markets by Teams and Individuals

We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of "assets" in a market context. Teams of traders learn the task’s solution faster than individuals and achieve this with weaker, less specific, performance feedback. Some teams even perform better than the best individuals. The experience of team decision-making in the market also creates positive knowledge spillovers for post-market individual performance in solving new Wason tasks, implying that team experiences enhance individual problem-solving skills.team decisions, markets, auctions, Wason selection task, rationality

Meta-informational cue inconsistency and judgment of information accuracy: spotlight on intelligence analysis

Meta-information is information about information that can be used as cues to guide judgments and decisions. Three types of meta-information that are routinely used in intelligence analysis are source reliability, information credibility and classification level. The first two cues are intended to speak to information quality (in particular, the probability that the information is accurate), and classification level is intended to describe the information’s security sensitivity. Two experiments involving professional intelligence analysts (N = 25 and 27, respectively) manipulated meta-information in a 6 (source reliability) by 6 (information credibility) by 2 (classification) repeated-measures design. Ten additional items were retested to measure intra-individual reliability. Analysts judged the probability of information accuracy based on its meta-informational profile. In both experiments, the judged probability of information accuracy was sensitive to ordinal position on the scales and the directionality of linguistic terms used to anchor the levels of the two scales. Directionality led analysts to group the first three levels of each scale in a positive group and the fourth and fifth levels in a negative group, with the neutral term “cannot be judged” falling between these groups. Critically, as reliability and credibility cue inconsistency increased, there was a corresponding decrease in intra-analyst reliability, inter-analyst agreement, and effective cue utilization. Neither experiment found a significant effect of classification on probability judgments

Aloe Vera Extract For Stomach Acid Use Safe And Effective Treatment

The purpose of this study was to determine the effectiveness of aloe vera juice against stomach acid. Aloe vera also contains key elements such as resin, aloin, tannins, aloin-emodin, polysaccharides, 19 amino acids, 12 vitamins and 20 minerals that are important for health. Aloe vera is a natural ingredient that is good for detoxifying heavy metals in the body, and is able to maximize the performance of the digestive system. consuming aloe vera juice in a certain dose, is very effective for healing wounds in the stomach, as well as being a natural remedy for stomach ulcers which is quite effective. Aloe vera has the ability to stimulate the release of pepsin, which is an enzyme in the stomach that works to support the digestive syste

Vulnerability Assessment of Reinforced Concrete Framed Structures Considering the Effect of Structural Characteristics

Considering the effects of earthquakes occurred during the last 15 years, this article focusses on finding solutions to minimize the human and economic losses. Several methodologies were developed in order to assess the vulnerability of the built environment with special reference to one of the most suitable structural systems in seismic areas for dwellings, offices or other functionalities, which is the reinforced concrete framed structure. Thus, the present article studies the influence on the vulnerability of reinforced concrete framed structures of geometric structural characteristics like the slab thickness, the building height and the plan configuration. Referring to the slab, it adds supplementary stiffness to the structure that can significantly influence upon its overall failure mechanism. 3D static nonlinear analyses are conducted by means of the SAP2000 computer program. The results are capacity curves which are used to develop the vulnerability curves. Three thicknesses are considered for the slab: 0.1 cm, 0.12 cm and 0.15 m. Medium and high rise structures are considered, with 4, and 8 levels, respectively, in order to determine the influence of the building height on the vulnerability index. Three plan configurations of the buildings are compared: a square one, a rectangular one and an L shaped one. For all the analyzed cases, the corresponding vulnerability curves are compared. The obtained results reveal that more realistic results for the behavior of the structure can be obtained if special attention is given to the structural characteristics, especially during the conceptual design process

INVERSE KINEMATICS IN THE SUCCESS OF THE THROW

The paper analyses the problematic of the human arm’s movement in order to get a successful direct throw in basketball. For the human arm we analyzed the mechanic model of the double pendulum, formed by the arm and the forearm, with the hand being immobilized by the forearm. The classic equations of throwing the ball (dependent on the initial speed and throwing angle vector) have been correlated with the corresponding equations of the arms’ movement. After imposing the mathematical conditions necessary for the ball to get into the basket, meaning certain inequality-type restrictions, we determined the kinematic dependents between the human arms’ movement and the trajectory of the ball. The numeric analysis for several initial values of the throw allowed the assessment, through validation or non-validation, of the kinematic conditions for the success of the throw, and also several discussions regarding the influences of various kinematic parameters upon the throw

Translation Errors in the Aggregation of Consumer Recommendations

There has been a substantial increase of websites providing consumers with information about products and services. This information is usually presented in the form of verbal reviews and numerical ratings. It is assumed implicitly that consumers can integrate adequately the information across the two presentation modes (verbal and numerical). Research on compatibility effects between stimulus and response formats, however, suggests that preference consistency is higher (lower) in cases of compatible (noncompatible) formats, implying that information aggregation across the two modes is inefficient. The results of two experiments confirm this conjecture. Decision makers are not aware of this effect. [to cite]

The Effect of Monetary Feedback and Information Spillovers on Cognitive Errors: Evidence from Competitive Markets

Abstract A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluating the relevance of these findings for psychology, economics, and related disciplines, it is natural to ask whether reasoning errors reflect random aberrations or systematic biases. One straightforward way to approach this question is to test their persistence at the aggregate level. In this paper, we report results of four studies designed to determine if information dissemination in competitive auctions can reduce, or even eliminate, logical errors in the Wason selection task. Our results show that payoff feedback and exposure to the information flow drive the aggregate behavior toward the normative solution. We also found evidence of spillover effects from informed to uninformed traders in one-sided combinatorial auctions as well as positive transfer effects from competitive to individual settings. We discuss the implication of our results for future research at the interface of psychology and economics