1,215 research outputs found

    Highbrow Films Gather Dust: A Study of Dynamic Inconsistency and Online DVD Rentals

    Get PDF
    We report on a field study demonstrating systematic differences between the preferences people anticipate they will have over a series of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the film rental and return patterns of a sample of online DVD rental customers over a period of four months. We predict and find that people are more likely to rent DVDs in one order and return them in the reverse order when should DVDs (e.g., documentaries) are rented before want DVDs (e.g., action films). This effect is sizeable in magnitude, with a 2% increase in the probability of a reversal in preferences (from a baseline rate of 12%) ensuing if the first of two sequentially rented movies has more should and fewer want characteristics than the second film. Similarly, we also predict and find that should DVDs are held significantly longer than want DVDs within-customer. Finally, we find that as the same customers gain more experience with online DVD rentals, their "dynamic inconsistency" is attenuated. We interpret our results as evidence that myopia has a meaningful impact on decisions in the field and that people learn about their myopia with experience, allowing them to curb its influence.want/should, intrapersonal conflict, dynamic inconsistency, myopia

    I’ll Have the Ice Cream Soon and the Vegetables Later: A Study of Online Grocery Purchases and Order Lead Time

    Get PDF
    How do decisions made for tomorrow or 2 days in the future differ from decisions made for several days in the future? We use data from an online grocer to address this question. In general, we find that as the delay between order completion and delivery increases, grocery customers spend less, order a higher percentage of “should” items (e.g., vegetables), and order a lower percentage of “want” items (e.g., ice cream), controlling for customer fixed effects. These field results replicate previous laboratory findings and are consistent with theories suggesting that people’s should selves exert more influence over their choices the further in the future outcomes will be experienced. However, orders placed for delivery tomorrow versus 2 days in the future do not show this want/should pattern, and we discuss a potential explanation

    How Can Decision Making Be Improved?

    Get PDF
    The optimal moment to address the question of how to improve human decision making has arrived. Thanks to 50 years of research by judgment and decision-making scholars, psychologists have developed a detailed picture of the ways in which human judgment is bounded. This article argues that the time has come to focus attention on the search for strategies that will improve bounded judgment because decision-making errors are costly and are growing more costly, decision makers are receptive, and academic insights are sure to follow from research on improvement. In addition to calling for research on improvement strategies, this article organizes the existing literature pertaining to improvement strategies and highlights promising directions for future research

    Harnessing Our Inner Angels and Demons: What We Have Learned About Want/Should Conflicts and How That Knowledge Can Help Us Reduce Short-Sighted Decision Making

    Get PDF
    Although observers of human behavior have long been aware that people regularly struggle with internal conflict when deciding whether to behave responsibly or indulge in impulsivity, psychologists and economists did not begin to empirically investigate this type of want/should conflict until recently. In this article, we review and synthesize the latest research on want/should conflict, focusing our attention on the findings from an empirical literature on the topic that has blossomed over the last 15 years. We then turn to a discussion of how individuals and policy makers can use what has been learned about want/should conflict to help decision makers select far-sighted options

    Policy Bundling to Overcome Loss Aversion: A Method for Improving Legislative Outcomes

    Get PDF
    Policies that would create net benefits for society that contain salient costs frequently lack enough support for enactment because losses loom larger than gains. To address this consequence of loss aversion, we propose a policy-bundling technique in which related bills involving both losses and gains are combined to offset separate bills’ costs while preserving their net benefits. We argue this method can transform unpopular individual pieces of legislation, which would lack the support for implementation, into more popular policies. Study 1 confirms that bundling increases support for bills with costs and benefits and that bundled legislation is valued more than the sum of its parts. Study 2 shows this finding stems from a diminished focus on losses and heightened focus on gains. Study 3 extends our findings to policies involving costs and benefits of the same type (e.g., lives) generated by different sources (e.g., food vs. fire safety)

    Modeling Expert Opinions on Food Healthfulness: A Nutrition Metric

    Get PDF
    Research during the last several decades indicates the failure of existing nutritional labels to substantially improve the healthfulness of consumers\u27 food/beverage choices. The present study aims to fill this void by developing a nutrition metric that is more comprehensible to the average shopper. The healthfulness ratings of 205 sample foods/beverages by leading nutrition experts formed the basis for a linear regression that places weights on 12 nutritional components (ie, total fat, saturated fat, cholesterol, sodium, total carbohydrate, dietary fiber, sugars, protein, vitamin A, vitamin C, calcium, and iron) to predict the average healthfulness rating that experts would give to any food/beverage. Major benefits of the model include its basis in expert judgment, its straightforward application, the flexibility of transforming its output ratings to any linear scale, and its ease of interpretation. This metric serves the purpose of distilling expert knowledge into a form usable by consumers so that they are empowered to make more healthful decisions

    Signing at the beginning versus at the end does not decrease dishonesty

    Get PDF
    Honest reporting is essential for society to function well. However, people frequently lie when asked to provide information, such as misrepresenting their income to save money on taxes. A landmark finding published in PNAS [L. L. Shu, N. Mazar, F. Gino, D. Ariely, M. H. Bazerman, *Proc. Natl. Acad. Sci. USA.* 109, 15197–15200 (2012)] provided evidence for a simple way of encouraging honest reporting: asking people to sign a veracity statement at the beginning instead of at the end of a self-report form. Since this finding was published, various government agencies have adopted this practice. However, in this project, we failed to replicate this result. Across five conceptual replications (*n* = 4,559) and one highly powered, preregistered, direct replication (*n* = 1,235) conducted with the authors of the original paper, we observed no effect of signing first on honest reporting. Given the policy applications of this result, it is important to update the scientific record regarding the veracity of these results

    Long-Acting Injectable Antiretroviral Therapy: An Opportunity to Improve Human Immunodeficiency Virus (HIV) Treatment and Reduce HIV Transmission among Persons Being Released from Prison Facilities

    Get PDF
    To the Editor—Antiretroviral therapy (ART) has decreased human immunodeficiency virus (HIV) morbidity and mortality. However, efficacy is dependent upon adherence, which is influenced by behavioral, social, and structural factors. Among these, incarceration can negatively impact ART adherence

    The use of citations in educational research: the instance of the concept of 'situated learning'

    Get PDF
    The paper provides a citation analysis of Lave and Wenger's work on communities of practice' and 'situated learning' over the period 1991-2001. The data relates to educational research in the UK, although comparisons are made with the USA. The findings indicate that although the text was incorporated and heavily used within educational research over the priod of the study there were very few citations that could be identified as cumulative. The discussion looks at whether this could be another instance of the failure of educational research and explores the role of theory in professional educatio
    • 

    corecore