The effect of fast and slow decisions on risk taking

We experimentally compare fast and slow decisions in a series of experiments on financial risk taking in three countries involving over 1700 subjects. To manipulate fast and slow decisions, subjects were randomly allocated to responding within 7 seconds (time pressure) or waiting for at least 7 or 20 seconds (time delay) before responding. To control for different effects of time pressure and time delay on measurement noise, we estimate separate parameters for noise and risk preferences within a random utility framework. We find that time pressure increases risk aversion for gains and risk taking for losses compared to time delay, implying that time pressure increases the reflection effect of Prospect Theory. The results for gains are weaker and less robust than the results for losses. We find no significant difference between time pressure and time delay for loss aversion (tested in only one of the experiments). Time delay also leads to less measurement noise than time pressure and unconstrained decisions, and appears to be an effective way of decreasing noise in experiments.     

Organisationskultur im Spielfilm

By analyzing cinema films, specific organizational cultures can be illustrated. The culture of prison as a “total institution” is explained on the basis of the movie “The Shawshank Redemption” (1994). With regard to the developing friendship between the former banker Andy Dufresne who is innocently convicted and the homicide delinquent Ellis Boyd Redding typical characteristics of a total institution are pointed out. Furthermore, the psychological function those characteristics serve for employees, inmates and even for the society as a whole is analyzed. Central to this interpretation is thinking of the prison as a father substitute. Many interactions become comprehensible viewed in this context. Additionally, the prison represents a huge object of projection which facilitates the collective release of aggression.     

A Method to Handle Zero Counts in the Multinomial Model

In the context of an objective Bayesian approach to the multinomial model, Dirichlet(a, …, a) priors with a < 1 have previously been shown to be inadequate in the presence of zero counts, suggesting that the uniform prior (a = 1) is the preferred candidate. In the presence of many zero counts, however, this prior may not be satisfactory either. A model selection approach is proposed, allowing for the possibility of zero parameters corresponding to zero count categories. This approach results in a posterior mixture of Dirichlet distributions and marginal mixtures of beta distributions, which seem to avoid the problems that potentially result from the various proposed Dirichlet priors, in particular in the context of extreme data with zero counts.     

Why Are Socially Anxious Adolescents Rejected by Peers? The Role of Subject‐Group Similarity Characteristics

This study addressed the role of actual and perceived similarity in peer rejection of socially anxious adolescents. Videotapes of 20 high and 20 low socially anxious adolescents (13–17 years old) giving a speech were rated by groups of unfamiliar peers with regard to perceived similarity and desire for future interaction (lower scores indicating rejection). Actual similarity between speakers and observers regarding social anxiety and gender was also taken into account. Findings showed that high socially anxious students were more rejected and that perceived but not actual similarity between peer observers and speakers (partly) mediated rejection.     

American High School Students’ Perceptions of Determinants of Life Satisfaction

Life satisfaction can be assessed either globally or with regard to satisfaction with specific domains of life. The latter multidimensional approach presumes science has delineated with confidence the specific domains most relevant to evaluating whether the criteria for a good life have been met. This paper shares results of a qualitative study of the perceived determinants of life satisfaction among 30 high school students who were diverse in terms of mental health; 6–10 participants were classified as complete mental health, vulnerable, symptomatic but content, or troubled at two time points separated by a year. Thematic analyses of transcribed individual interviews suggested eight themes that capture the domains of life adolescents perceive influence their happiness. These themes are compared and contrasted to domains included in existing multi-dimensional measures of youth life satisfaction. The factors likely to be particularly salient to students with different levels of mental health are noted.

     

Warum und wodurch Coaching wirkt

The contribution reviews the state oft the art of the research on general success factors in the coaching process. Research in the field of psychotherapy on basic variables of client centered counseling and general therapeutic change mechanisms set an example. Results of first studies on these and modified factors show that the coaching outcome depends on observed esteem and emotional support by the coach, resource activation and support of transfer into practice. Process analysis of nonverbal interactions between coach and client demonstrate that goal attainment influence goal attainment. Finally, the paper focuses on limitations, of the studies, scientific and practical conclusions as well as future perspectives.     

Stock investors’ preference for short-term vs. long-term bonuses

Bonuses in the finance sector may be based on too short time intervals for environmental and social factors to be taken into account in investment decisions. We report two experiments to investigate whether investors prefer short-term to long-term bonuses. In Experiment 1 employing 27 undergraduates, preferences were measured for four short-term certain bonuses, evenly distributed across a time interval, and one certain long-term bonus at the end of the time interval. A majority chose the short-term bonuses, and in order for the long-term bonus to be equally preferred it had to be about 40% higher than the four added short-term bonuses. Experiment 2 employing another 36 undergraduates introduced outcome uncertainty that more accurately reflects the choices stock investors face. The participants again choose between a long-term bonus and four distributed short-term bonuses. It was shown that uncertainty made more participants prefer the long-term bonus to the added short-term bonuses than when the outcome was certain. A smaller increase of the long-term bonus of about 20% was now required to make it equally attractive as the four added short-term bonuses.