Judgment and Decision Making

Connolly, Terry; Ordóñez, Lisa D.

doi:10.1002/0471264385.wei1219

Cited by 11 publications

(6 citation statements)

References 145 publications

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“…Scientists and professionals, not only "ordinary" people, suffer from many of these judgmental biases (Cialdini 2009, Connolly et al 2000, Gilovich et al 2002, Tetlock 2005.…”

Section: Poor Inquiry Skillsmentioning

confidence: 99%

Communicating climate change risks in a skeptical world

Sterman¹

2011

Climatic Change

187

151

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The Intergovernmental Panel on Climate Change (IPCC) has been extraordinarily successful in the task of knowledge synthesis and risk assessment. However, the strong scientific consensus on the detection, attribution, and risks of climate change stands in stark contrast to widespread confusion, complacency and denial among policymakers and the public. Risk communication is now a major bottleneck preventing science from playing an appropriate role in climate policy. Here I argue that the ability of the IPCC to fulfill its mission can be enhanced through better understanding of the mental models of the audiences it seeks to reach, then altering the presentation and communication of results accordingly. Few policymakers are trained in science, and public understanding of basic facts about climate change is poor. But the problem is deeper. Our mental models lead to persistent errors and biases in complex dynamic systems like the climate and economy. Where the consequences of our actions spill out across space and time, our mental models have narrow boundaries and focus on the short term. Where the dynamics of complex systems are conditioned by multiple feedbacks, time delays, accumulations and nonlinearities, we have difficulty recognizing and understanding feedback processes, underestimate time delays, and do not understand basic principles of accumulation or how nonlinearities can create regime shifts. These problems arise not only among laypeople but also among highly educated elites with significant training in science. They arise not only in complex systems like the climate but also in familiar contexts such as filling a bathtub. Therefore they cannot be remedied merely by providing more information about the climate, but require different modes of communication, including experiential learning environments such as interactive simulations.

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“…Scientists and professionals, not only "ordinary" people, suffer from many of these judgmental biases (Cialdini 2009, Connolly et al 2000, Gilovich et al 2002, Tetlock 2005.…”

Section: Poor Inquiry Skillsmentioning

confidence: 99%

Communicating climate change risks in a skeptical world

Sterman¹

2011

Climatic Change

187

151

View full text Add to dashboard Cite

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“…Connelly et al provide models of decision making [13] whilst others researches have characterized its role in information processing ( [14], [15]) and as part of the larger cognitive architecture ( [16], [17]). Judgment and decision making are altered under stress conditions, but precisely which elements of judgment are degraded and in what ways is less clear.…”

Section: The Influence Of Stress In Decision Makingmentioning

confidence: 99%

A Sensor Technology Survey for a Stress-Aware Trading Process

Fernández

Augusto

Seepold

et al. 2012

IEEE Trans. Syst., Man, Cybern. C

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Abstract-The role of the global economy is fundamentally important to our daily lives. The stock markets reflect the state of the economy on a daily basis. Traders are the workers within the stock markets who deal with numbers, statistics, company analysis, news and many other factors which influence the economy in real time. However, whilst making significant decisions within their workplace, traders must also deal with their own emotions. In fact, traders have one of the most stressful professional occupations. This survey merges current knowledge about stress effects and sensor technology by reviewing, comparing, and highlighting relevant existing research and commercial products that are available on the market. This assessment is made in order to establish how sensor technology can support traders to avoid poor decision making during the trading process. The purpose of this article is: 1) to review the studies about the impact of stress on the decision making process and on biological stress parameters that are applied in sensor design; 2) to compare different ways to measure stress by using sensors currently available in the market according to basic biometric principles under trading context; and 3) to suggest new directions in the use of sensor technology in stock markets.

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“…If an investor has experience and financial knowledge then he can select a better choice. Many preferences may be less when experienced and financial knowledgeable investor performs a task (Connolly & Ordóñez, 2003;J. F. Smith & Kida, 1991).…”

Section: Introductionmentioning

confidence: 99%

Web Disclosure as Mediating Role in the Relationship Between Paradox of Choice, Investor Experience, Financial Literacy and Investment Decision Making: Evidence From China

Khan

Latif

Sohail

et al. 2019

JAFEE

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Purpose: The aims of this study to find the web disclosure as mediating role in the relationship between paradox of choice, investor experience, financial literacy and investment decision making.. Design/Methodology/Approach: Data were obtained from the 200 respondents for recent empirical investigation. The structural equation model is employed for analyzing the data. Findings: The novel findings suggest that paradox of choice, investor experience, and financial literacy have direct positive effect on investment decision making. Moreover, the findings recommend that web disclosure acts as a mediator between paradox of choice, investor experience, financial literacy and investment decision making Implications/Originality/Value: The novel findings recommend that an important policy implication of web information disclosure for the investor.

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Judgment and Decision Making

Cited by 11 publications

References 145 publications

Communicating climate change risks in a skeptical world

Communicating climate change risks in a skeptical world

A Sensor Technology Survey for a Stress-Aware Trading Process

Web Disclosure as Mediating Role in the Relationship Between Paradox of Choice, Investor Experience, Financial Literacy and Investment Decision Making: Evidence From China

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