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.     

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.     

Empty Looks or Paying Attention? Exploring Infants' Visual Behavior during Encoding of an Elicited Imitation Task

Recently, there has been an increased interest in the relationship between looking time during encoding and subsequent memory performance in imitation tasks. Hitherto, the results have been inconclusive: one line of research supporting the link between looking time and performance and another line finding no relation. The existing studies may, however, have been restricted by using small samples, limited looking time measures, and short retention intervals. We here examined the relationship between the encoding process by means of looking time as well as pupil dilation (by means of eye‐tracking technology) in sixty‐eight 20‐month‐old infants participating in an elicited imitation task and their subsequent memory performance (at an encoding test and at a 2‐week delayed recall test). Additional twenty‐two infants provided baseline measures. Simple looking time (assessed as fixation duration) did not correlate consistently with subsequent memory measures. In some cases, however, looking time correlated negatively with imitation scores. In contrast, positive correlations were found between pupil dilation and some of the memory measures, suggesting that pupil dilation may be a more sensitive tool compared to looking time measures.     

Modeling probability density through ultraspherical polynomial transformations

We present a method for fitting parametric probability density models using an integrated square error criterion on a continuum of weighted Lebesgue spaces formed by ultraspherical polynomials. This approach is inherently suitable for creating mixture model representations of complex distributions and allows fully autonomous cluster analysis of high-dimensional datasets. The method is also suitable for extremely large sets, allowing post facto model selection and analysis even in the absence of the original data. Furthermore, the fitting procedure only requires the parametric model to be pointwise evaluable, making it trivial to fit user-defined models through a generic algorithm.     

Social identity and alcohol in young adolescence: the perceived difference between youthful and adult drinking

This paper examines the evolving social identities of young adolescents in regard to alcohol and drinking culture in Norway. Detailed analysis of 29 focus group interviews and 32 individual interviews with 12–13-year-olds reveal a thorough negative attitude towards alcohol, especially when enjoyed by young people. Young adolescents found young people to be too irresponsible and immature to drink, while adults were portrayed as capable of enjoying alcohol without losing control or experiencing other negative effects. Through symbolic boundary work, they distanced themselves from adolescents who drank. The young adolescents rejected the idea that drinking alcohol was a sign of maturity; instead, they exhibited maturity by distancing themselves from drunk adolescents. We discuss how these findings reflect the participants’ socio-cognitive development, and how symbolic boundaries are often drawn against those closest in social distance. We conclude that boundaries between ‘adolescents’ and ‘adults’ are fundamental when understanding emerging adolescent social identities, especially when it comes to drinking and drinking culture.     

Inequality in Interaction: Equalising the Helper–Recipient Relationship in the Refugee Solidarity Movement

VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations - In this paper, we supplement existing scholarship on the interactional process within volunteering with one that focuses...     

The limits of the decentred state: the case of policing insurance claims fraud

Existing research clearly shows that the public–private divide is continuously being challenged, recast and transformed. However, this article argues that a sharp distinction between public and private continues to operate as an important norm for professionals involved in the investigation of insurance claims fraud in Sweden. It shows how power within private insurance companies and the police authority is organized around the public–private divide, which is in turn mobilized to justify repression and to give investigations legitimacy. The article indicates that the formal public–private distinction is far more thoroughly maintained than is suggested by the existing literature. Rather than challenging the centrality of state power, private insurers and the police construct, maintain and have a stake in the reproduction of a state‐centric monopoly of crime control.     

Attitudes of social work students towards older people

Demographic ageing is a challenge for many countries. Even though Turkey has a relatively younger demographic composition, the proportion of the older people (65+) within the population is rapidly increasing. Within this framework, older people are becoming more important clients for both social work students and social workers in Turkey. This study aims to reveal the attitudes of social work students towards older people and determine the various factors that affect their views on older persons. In the scope of the project, Kogan's Attitude Towards Old People Scale was applied to 419 social work undergraduate students at a university located in Central Anatolia. The findings showed that social work students scored a mean of 130.96 and they generally had positive attitudes towards older people. The correlation between year of study, gender and age was not statistically significant. However, having lived mostly in urban areas was positively correlated with the mean Kogan scores and this finding was found to be statistically significant. Exposure to personal contact with older people at both the personal and professional levels was influential in shaping attitudes about the older people.     

When the Norwegian child-welfare services get involved: parents making sense of referrals

There is limited research exploring parents' views and understanding of referrals to the child-welfare services (CWS). This study explores parents' understanding of the circumstances leading to a child-welfare referral, and their understanding of the reporter's objectives in making the referral. Qualitative content analysis and frequency analysis was performed on open-ended survey responses from a sample of 683 Norwegian parents in contact with the CWS. The results showed that the majority (60.2%) of the parents perceived the referral to be initiated solely because of parental difficulties and multiple family life stressors. Some of the parents (22.8%) believed the referrals were initiated exclusively because of their children's problems, whereas a few (13.3%) perceived it to be a combination of parental/familial difficulties and children's problems. The findings reveal that close to half of the parents (46.4%) felt the objective of the person making the referral was to help the child, their parents and the family. Some (36.5%) saw it as a routine or mandated action by public or official services, while others (18.7%) reported that they did not know why referrals had been made, or gave no answer to the question. A small group of parents (6%) viewed the referral as an act of harassment. The main implications of these findings are discussed.