Behavioral strategy Powell, Thomas C.; Lovallo, Dan; Fox, Craig R.
Strategic management journal,
December 2011, Letnik:
32, Številka:
13
Journal Article
Recenzirano
Behavioral strategy merges cognitive and social psychology with strategic management theory and practice. Despite much progress, the aims and boundaries of behavioral strategy remain unclear. In this ...paper we define behavioral strategy and identify the main unsolved problems. We propose a unifying conceptual framework for behavioral strategy and conclude by introducing the papers of the Special Issue on the Psychological Foundations of Strategic Management.
The authors propose that attempts to increase consumers' objective knowledge (OK) regarding financial instruments can deter willingness to invest when such attempts diminish consumers' subjective ...knowledge (SK). In four studies, the authors use different SK manipulations and investment products to show that investment decisions are influenced by SK, independent of OK. Specifically, they find that (1) willingness to pursue a risky investment increases when SK is high (vs. low) relative to a prior investment choice (Study 1); (2) willingness to enroll in a retirement saving program is enhanced by asking consumers an easy (vs. difficult) question about finance, thereby increasing SK (Study 2); (3) technically elaborating information about a mutual fund diminishes SK regarding that investment and decreases choice of that fund (Study 3); and (4) consumers invest less money in funds when missing information is made salient, holding the objective investment information constant (Study 4). Furthermore, the effects in Studies 2-4 are mediated by participants' self-rated SK. The authors propose that effective financial education must focus not only on imparting relevant information and enhancing OK but also on promoting higher levels of SK.
People often hold extreme political attitudes about complex policies. We hypothesized that people typically know less about such policies than they think they do (the illusion of explanatory depth) ...and that polarized attitudes are enabled by simplistic causal models. Asking people to explain policies in detail both undermined the illusion of explanatory depth and led to attitudes that were more moderate (Experiments 1 and 2). Although these effects occurred when people were asked to generate a mechanistic explanation, they did not occur when people were instead asked to enumerate reasons for their policy preferences (Experiment 2). Finally, generating mechanistic explanations reduced donations to relevant political advocacy groups (Experiment 3). The evidence suggests that people's mistaken sense that they understand the causal processes underlying policies contributes to political polarization.
Economists define risk in terms of the variability of possible outcomes, whereas clinicians and laypeople generally view risk as exposure to possible loss or harm. Neuroeconomic studies using ...relatively simple behavioral tasks have identified a network of brain regions that respond to economic risk, but these studies have had limited success predicting naturalistic risk-taking. By contrast, more complex behavioral tasks developed by clinicians (e.g. Balloon Analogue Risk Task and Iowa Gambling Task) correlate with naturalistic risk-taking but resist decomposition into distinct cognitive constructs. We propose here that to bridge this gap and better understand neural substrates of naturalistic risk-taking, new tasks are needed that: are decomposable into basic cognitive and/or economic constructs; predict naturalistic risk-taking; and engender dynamic, affective engagement.
People typically exhibit greater sensitivity to losses than to equivalent gains when making decisions. We investigated neural correlates of loss aversion while individuals decided whether to accept ...or reject gambles that offered a 50/50 chance of gaining or losing money. A broad set of areas (including midbrain dopaminergic regions and their targets) showed increasing activity as potential gains increased. Potential losses were represented by decreasing activity in several of these same gain-sensitive areas. Finally, individual differences in behavioral loss aversion were predicted by a measure of neural loss aversion in several regions, including the ventral striatum and prefrontal cortex.
Social Mobilization Rogers, Todd; Goldstein, Noah J; Fox, Craig R
Annual review of psychology,
01/2018, Letnik:
69, Številka:
1
Journal Article
Recenzirano
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This article reviews research from several behavioral disciplines to derive strategies for prompting people to perform behaviors that are individually costly and provide negligible individual or ...social benefits but are meaningful when performed by a large number of individuals. Whereas the term social influence encompasses all the ways in which people influence other people, social mobilization refers specifically to principles that can be used to influence a large number of individuals to participate in such activities. The motivational force of social mobilization is amplified by the fact that others benefit from the encouraged behaviors, and its overall impact is enhanced by the fact that people are embedded within social networks. This article may be useful to those interested in the provision of public goods, collective action, and prosocial behavior, and we give special attention to field experiments on election participation, environmentally sustainable behaviors, and charitable giving.
Males and females of nearly all animals differ in their body size, a phenomenon called sexual size dimorphism (SSD). The degree and direction of SSD vary considerably among taxa, including among ...populations within species. A considerable amount of this variation is due to sex differences in body size plasticity. We examine how variation in these sex differences is generated by exploring sex differences in plasticity in growth rate and development time and the physiological regulation of these differences (e.g., sex differences in regulation by the endocrine system). We explore adaptive hypotheses proposed to explain sex differences in plasticity, including those that predict that plasticity will be lowest for traits under strong selection (adaptive canalization) or greatest for traits under strong directional selection (condition dependence), but few studies have tested these hypotheses. Studies that combine proximate and ultimate mechanisms offer great promise for understanding variation in SSD and sex differences in body size plasticity in insects.
The Unified Tradeoff Model Scholten, Marc; Walters, Daniel J.; Fox, Craig R. ...
Psychological review,
07/2024, Letnik:
131, Številka:
4
Journal Article
Recenzirano
Evidence is steadily mounting that attribute-based models offer a more accurate description of intertemporal choices than traditional alternative-based models. Among the attribute-based models, the ...tradeoff model offers the broadest coverage of research findings, but at the cost of considerable complexity: There now are various instantiations of the model dealing with partially overlapping universes of choice options and preference patterns. Moreover, there are reports of preference patterns in intertemporal decisions about monetary losses that contradict all attribute-based models proposed so far. Taking stock of these core challenges, and all other evidence, we develop an account of intertemporal choice, the unified tradeoff model, that is simpler, yet more comprehensive, than all currently available versions of the tradeoff model taken together. It borrows extensively from its predecessors, but it introduces a new element, time bias, that enables it to accommodate an extraordinarily broad range of preference patterns, and also generate new predictions that contradict all existing models of intertemporal choice. We report four studies that test and confirm its predictions regarding delay, interval, sign, and magnitude dependence in choices between single-dated outcomes, and a fifth study that tests and confirms its predictions regarding the relation between delay preference in choices that only involve single-dated payments and duration preference in choices that also involve sequences of payments. Having subjected the unified tradeoff model to an elevated risk of disconfirmation, we discuss its parsimony and scope in relation to yet other phenomena, most notably, preference patterns in consumption decisions, the final frontier for attribute-based models.
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