Loss aversion attenuates under time pressure

Four experiments demonstrate that loss aversion attenuates under time pressure. We posit a value function-based explanation: the loss of time under time pressure places people on the locally-convex portion of the value function, from which they consider the hedonic impact of losses to be similar to that of gains

Online social networking increases financial risk-taking

© 2015 Elsevier Ltd. All rights reserved. The popularity of online social networking sites such as Facebook, LinkedIn, and Twitter has engendered discussion regarding their consequences for users, whether they be positive or negative. In this research, we draw on the cushion hypothesis from psychology and social capital theory from sociology to posit that using online social networking increases users' financial risk-taking. Three studies show that online social circles such as "Facebook friends" are akin to collectivistic communities by offering users a "cushion" that mitigates financial loss, which increases users' financial risk-taking, consistent with the cushion hypothesis. This greater financial risk-taking arises primarily when users perceive their online social circles as able or willing to provide financial support or of high quality, consistent with social capital theory. Thus, we link online social networking with financial risk-taking, with important welfare implications for today's online users

Time pressure reverses risk preferences

© 2015 Elsevier Inc. In this research, we offer the hypothesis that time pressure reverses risk preferences. That is, people are typically risk-averse over gains and risk-seeking over losses, as predicted by prospect theory, but we propose that people under time pressure are risk-seeking over gains and risk-averse over losses. This is because people under time pressure perceive the maximal possible outcome - that is, the best possible gain over gains and the worst possible loss over losses - to be more likely to occur, such that they use it as their reference point and not the status quo to evaluate all other outcomes. As such, they perceive intermediary gains relative to the best possible gain as relative losses, which results in risk-seeking, and they perceive intermediary losses relative to the worst possible loss as relative gains, which results in risk-aversion. We conclude by situating our research among prior work generally and with prospect theory specifically

Phytochemical Screening and Evaluation of the Diuretic Activity of Aqueous Methanol Extract from Aerial Parts of Mentha viridis Linn (Labiatae) in Albino Rats

Purpose: To evaluate the diuretic effect of the aqueous methanol extract of Mentha viridis Linn (Labiatae) in Albino rats.Methods: The aqueous-methanol extract of Mentha viridis was administered to experimental rats at doses of 30, 50 and 100 mg/kg, (i.p.) Furosemide 10 mg/kg (i.p.) and normal saline were used as reference drug and control, respectively. Diuretic effect was examined immediately after injecting the drugs and on an hourly basis by measuring the urine volume of the rats, sodium and potassium content and pH of the urine, comparing with that of the control. Preliminary phytochemical analysis of the extract was carried out to determine major constituents.Results: The extract induced diuretic effects and induced electrolytes excretion in a dose- dependent manner in comparison with control. The extract (100 and 50 mg/kg) significantly (p < 0.01) increased the volume of urine in comparison to control group. Excretion of potassium and sodium also significantly (p< 0.05) increased following extract administration. However, there was no significant change in the pH of urine samples of the extract-treated group compared with control. The diuretic effect of extract was comparable to that of the reference drug (furosemide). Phytochemical analysis revealed the presence of alkaloids, flavonoids, tannins and saponins.Conclusion: The results indicate that the aqueous-methanol extract of Mentha viridis produced a diuretic effect that was comparable with that of the reference diuretic, furosemide, thus lending support for the traditional use of Mentha viridis as a diuretic agent.Keywords: Diuretic activity, Potassium, Sodium, Urine volume, Mentha viridis, Furosemide, Phytochemical screenin

Risk, time pressure, and selection effects

Time pressure is a central aspect of economic decision making nowadays. It is therefore natural to ask how time pressure affects decisions, and how to detect individual heterogeneity in the ability to successfully cope with time pressure. In the context of risky decisions, we ask whether a person’s performance under time pressure can be predicted by measurable behavior and traits, and whether such measurement itself may be affected by selection issues. We find that the ability to cope with time pressure varies significantly across decision makers, leading to selected subgroups that differ in terms of their observed behaviors and personal traits. Moreover, measures of cognitive ability and intellectual efficiency jointly predict individuals’ decision quality and ability to keep their decision strategy under time pressure