Cognitive Biases Research Articles

Exploring the impact of internet usage on individuals’ social status discordance: evidence from China

This study examines the impact of internet usage frequency and behavior on social status discordance using CSS2021 data, and adopts a causal random forest model to test the heterogeneity of the impact of internet usage on social status discordance. The results reveal a clear inconsistency between objective and subjective social status among Chinese residents. In addition, increasing internet usage frequency can make actors more inclined to underestimate their social status. Moreover, capital enhancement through the internet significantly reduces the likelihood of status inflation. Finally, individuals with higher social status are less likely to have an upward bias in status cognition than those with lower social status when they use the internet frequently and use it for capital enhancement. These findings advance our understanding of social status identification among Chinese residents and provide different perspectives for studying social stratification in the digital age.

Cognitive Bias Sunk Cost in Marketing

The sunk cost cognitive bias, or sunk cost fallacy, is a human tendency to continue with: an investment, make a decision, business, couple or project based on the resources that have been invested, instead of making a current evaluation of the results. future benefits and costs. The objective of the research was to analyze the impact of sunk cost cognitive bias on customer decisions and its application in neuromarketing strategies. The specific objectives were: (i) Evaluate how sunk cost influences the perception of the value of products or services. (ii) Identify marketing strategies that exploit the sunk cost bias. (iii) Propose strategies to apply the sunk cost bias in marketing. The results show that the sunk cost bias significantly influences the perception of the value of products and services, affecting purchasing decisions, depending on the educational level, gender, and income level that influence the continuity in the use of products and services. due to previous investment of time or money; When purchasing expensive items customers feel obligated to continue using paid more even if it is not useful and used in full. The continuity in prepaid subscriptions, the perception of discounts for large quantities as a way to make better use of money, the probability of participating in loyalty programs for the accumulated rewards, the preference for payments and flexible cancellation, create a valuable perception of products they have previously invested in, the preference for repairing expensive items, and the perception of loss from a previous investment. It is concluded that the sunk cost cognitive bias significantly influences the decisions and behavior of a vast majority of customers, and how companies can use this information to design effective marketing campaigns.

Scaffolding Team Minds: Using Metacognitive Training to Boost Social Cognition and Theory of Mind for Effective Collaborative Problem-Solving

Effective teamwork requires both individual domain-specific knowledge and social cognitive skills. In this paper, we discuss a theoretical approach that incorporates metacognitive training to enhance social cognition and theory of mind within teams. By using scaffolding techniques to address cognitive biases, we aim to facilitate efficient collaborative problem-solving. Our goal is to develop individual and team metacognitive awareness in social contexts through various interventions implemented during the preparation, execution, and reflection stages of training. We suggest that metacognitive strategies implemented during team training can enhance individuals’ ability to navigate social interactions and understand others’ perspectives. This approach provides a foundation for researchers interested in studying methods to improve collaboration, for teams seeking to enhance interpersonal understanding, and beneficial for those creating interventions to reduce social cognitive biases and improve theory of mind within collaborative problem-solving scenarios.

All are interesting to invest, I fear of missing out (FOMO): a comparative study among self-employed and salaried investors

Purpose This paper aims to examine how fear of missing out (FOMO) and investment intention mediate the relationship between behavioral biases and investment decisions of retail investors in the Indian stock market. Design/methodology/approach The present research comprises two cross-sectional quantitative studies, where Study A involves data from 405 self-employed and Study B involves 393 salaried investors. Data was attained through questionnaires – the partial least squares structural equation modeling was used for data analysis. Findings The outcomes show that herding, overconfidence and loss aversion bias significantly impact investment intention and FOMO on both studies. Furthermore, the outcomes also indicate that herding and loss aversion bias significantly influence investment decisions in studies (A and B); however, overconfidence bias insignificantly affects the investment decisions in Study A. Besides, the results also reveal a substantial relationship between FOMO, investment intention and investment decision. Practical implications The findings of this paper assist practitioners (financial analysts and retail investors) in considering the various ways of analyzing investment decision outcomes by considering the joint effect of several biases. Originality/value This paper is an initial attempt to propose a new theoretical framework and empirically examine the impact of behavioral biases on investment decisions by considering the FOMO and investment intention among self-employed and salaried investors. This study also contributes to the behavioral finance literature; other researchers may find it valuable to attain their goals.

Inspiring Designers’ Innovative Thinking: An Evolutionary Design Method for Product Forms

The product form serves as a crucial information carrier for expressing design concepts and encompasses significant valuable references. During the product iteration process, changes in design subjects, such as designers and decision-makers, result in substantial variability and uncertainty in the direction of product form evolution. To address these issues, an evolutionary design method for product forms based on the gray Markov model and an evolutionary algorithm is proposed in this study. Firstly, quadratic curvature entropy is utilized to quantify historical form features of product evolution. Subsequently, the original data on product form feature evolution are fitted and predicted using the gray Markov model, thereby obtaining the predicted value of the latest generation of product form features, which is determined to be 0.14586. Finally, this study uses this predicted value to construct a fitness function in the framework of an evolutionary algorithm, which in turn identifies next-generation product forms that can stimulate designers’ creative thinking. The method’s application is illustrated using the side outer contour of the Audi A4 automobile as an example. The research findings demonstrate that combining the gray Markov model with an evolutionary algorithm can effectively simulate designers’ understanding of previous generations’ design concepts and achieve stable inheritance of these design concepts during product iteration. This approach mitigates the risk of abrupt changes in design concepts caused by designers and decision-makers due to personal cognitive biases, thereby enhancing product development efficiency.

Lessons in clinical reasoning- pitfalls, myths, and pearls: a case of persistent dysphagia and patient partnership.

Diagnostic excellence underscores the patient-centered diagnosis and patient engagement in the diagnostic process. In contrast to a patient-centered diagnosis, adoctor-centered diagnosis with a lack of patient engagement may inhibit the diagnostic process due to the lack ofresponsibility, disrupted information, and increased effect of cognitive biases, particularly in a situation where multiple physicians are involved. In this paper, we suggest a promising idea to enhance patient engagement in the diagnostic process by using written information by a patient about their perspective and experience, which canfill the gaps needed for diagnosis that doctors cannot find alone. A 38-year-old woman developed chest pain, which gradually worsened during the following two years. For two years, she was evaluated in multiple departments; however, no definitive diagnosis was made, and her condition did not improve. During this evaluation, she searched her symptoms and image findings online. Shereached a possible diagnosis of 'esophageal achalasia.' Still, she could not tell her concerns to any physicians because she felt that her concerns were not correctly recognized, although she showed her notes that her symptoms were recorded. She finally consulted the department of internal medicine, where her notes and previous test results were thoroughly reviewed. The final diagnosis of esophageal achalasia was confirmed. Doctors must organize an environment where patients can freely express their thoughts, emotions, and ideas regarding their diagnosis. Cogenerating visit notes using patient input through written communication can be apromising idea to facilitate patient engagement in the diagnostic process.

A study on Factors Influencing the Herding Behavior of Indian Stock Market

Behavioral finance proposes that cognitive traits of investors impact their investment decisionswhich are not always rational, in contradiction to traditional finance. These cognitive traits of stockinvestors are influenced by their demographical profile and the financial information that they receive fromvarious sources which in turn influences their stock investment decisions. Investors with similardemographic profile tend to follow a similar pattern with regard to their investment behavior biases. Themain objective is to study the Factors Influencing the Herding Behavior of Indian Stock Market. Using thestate space model, calculate the herding measure using the log cross-sectional standard deviation of betaof the market component (using the kalman filter approach).

Selective insensitivity to income held by the richest.

The misperception of income inequality is often touted as a critical barrier to more widespread support of redistributive policies. Here, we examine to what extent and why (mis)perceptions vary systematically across the income distribution. Drawing on data from four studies (N = 2,744)-including a representative sample and preregistered incentive-compatible experiments-we offer converging evidence that people specifically underestimate the amount of income held by the top of the income distribution. While this selective underestimation is likely driven by multiple mechanisms, including systemic factors, we find that cognitive biases contribute to the observed pattern of results. The rise of inequality in many developed countries has been documented before, and the fact that this growing inequality is largely driven by the outsized gains of the richest individuals may pose new challenges previously underappreciated: our theory and findings highlight that cognitive biases pose a key obstacle to people's recognition of the concentration of income among the richest individuals, and may potentially distort their preferences for redistribution. We conclude by discussing future directions for research and the importance of incorporating behavioral and cognitive limitations into the design of redistributive public policy.

Impact of psychological factors on investment decisions in Nepalese share market: A mediating role of financial literacy

Psychological factors such as emotional reactions, cognitive biases, and herd behavior influence investment decisions because they shape investor behavior, drive market dynamics, and affect rational decision-making. Similarly, financial literacy improves investment decisions by facilitating informed choices, minimizing biases, enhancing risk management, and promoting long-term financial planning. This study aims to examine the influence of psychological factors on investment decisions in the Nepalese share market, emphasizing the mediating role of financial literacy. Smart PLS 4.0 was used to analyze the structural relationships within the proposed theoretical model. Data were collected from the primary source using a structured questionnaire administered through a random sampling technique. The respondents included 410 active individual investors from the Nepal Stock Exchange (NEPSE). The study's findings reveal that psychological factors have a positive and significant effect on investment decisions among investors in the Nepalese stock market. Furthermore, the study revealed that financial literacy mediates the relationship between psychological factors and investment decisions by enhancing individuals' understanding and confidence, leading to more informed and rational investment choices. The results highlight the critical role of financial literacy in investment decisions in the share market. The findings indicate that investors with higher financial literacy levels are better equipped to mitigate the adverse effects of psychological biases, leading to more rational and informed investment decisions. By understanding the interplay between psychological factors and financial literacy, policymakers and financial institutions can develop targeted strategies to foster a more robust and resilient financial market in developing economies such as Nepal.

Understanding herpes zoster vaccine hesitancy and information asymmetry: a qualitative study in China.

Herpes zoster is more prevalent among the older adult due to the age-related immune decline, leading to significant pain and complications. Although vaccination effectively prevents viral infections, vaccine hesitancy remains a major barrier to achieving high vaccination rates.To address this, we conducted a qualitative survey using Vaccine Hesitancy Determinants Matrix and 5C model to understand and improve vaccination rates in this group. Descriptive qualitative research design based on the philosophical underpinnings of naturalistic inquiry and purposive sampling methodology was conducted on adults aged 50 and above, as well as community health workers. Data were collected through semi-structured, in-depth personal interviews. The interview outline was constructed following a comprehensive review of the literature and consideration of the theoretical framework. Seventeen adults over 50 years and four community healthcare workers were included in this study. The study found that information asymmetry in immunization planning was evident at all stages of vaccine supply, dissemination and demand. The main manifestations included limited access to authoritative information, insufficient community awareness of herpes zoster as a route of vaccination, insufficient vocational training, significant gaps in vaccine knowledge, and high levels of complacency among individual residents. Herpes zoster vaccine hesitancy is prevalent among middle-aged and older adults in China due to information asymmetry, vaccine complacency, inadequate community services, and other multiple layers of factors. Public health strategies should aim to reduce cognitive biases and information gaps by disseminating diverse and credible vaccine information through social media, medical institutions, and offline channels to promote higher vaccination rates.

Does air pollution cause more car accidents? Evidence from auto insurance claims

Using a proprietary data set of auto insurance claims from May 2014 to December 2016, this paper examines the influence of air pollution on the number and severity of traffic accidents in China. Combining an instrumental variable strategy with high-dimensional fixed effects, we find that air pollution significantly increases the occurrence of traffic accidents, with each 1 μg/m3 increase in the particulate matter 2.5 (PM2.5) resulting in a 0.12 % increase in traffic accident probability and a 0.40 % increase in traffic accident number within one day. A different pattern is revealed in our analysis of accident severity, evidenced by a decrease of 1.20 % in the average claim ratio compared to its mean value and a reduction of 26 yuan in the average claim amount made with an increase of 1 μg/m3 in PM2.5. Combining the effect on the number and severity of traffic accidents, for each 1 μg/m3 increase in daily PM2.5, the district daily claim amount decreases by approximately 34 yuan. Further analysis indicates that this may be related to cautious driving behavior resulting from the driver's increased risk aversion. By exercising caution and care on the road, drivers can reduce the negative influence of air pollution on road safety and avoid non-subjective behavioral biases.

Interplay among attention, appraisal, and memory bias in provisional posttraumatic stress disorder: Exploring the combined cognitive biases hypothesis.

Both theoretical and empirical studies suggest that negative cognitive biases significantly influence the onset and persistence of posttraumatic stress disorder (PTSD) symptoms. However, the interplay among these cognitive biases and their conjoint contribution to the long-term trajectory of posttraumatic stress symptoms remains underexplored. This study delves into the interplay among attention, appraisal, and memory biases within a provisional PTSD population and evaluates the predictive effects of two integrative models (weakest link, additive approach) on posttraumatic stress symptoms reported 2 months later. Sixty Chinese participants (Mage = 20.17, SDage = 2.11) with provisional PTSD undertook the scrambled sentences test (appraisal bias) with their eye movements recorded (attention bias) and then the free recall task (memory bias). Posttraumatic stress symptom was assessed at baseline and 2-month follow-up. Selective attention bias toward negative words was positively associated with the negative appraisal of scrambled sentences, which subsequently showed a strong association with negative memory bias. Regarding the progression of posttraumatic stress symptoms, the additive approach was found to be a more reliable predictor of self-reported posttraumatic stress symptoms at 2 months than the weak link approach. This study provides initial evidence supporting the combined cognitive biases hypothesis in provisional PTSD. It also underscores potential avenues to enhance cognitive bias modification techniques. Replication of these findings in broader clinical samples is essential. (PsycInfo Database Record (c) 2024 APA, all rights reserved).

Navigating the Paradoxes of Real-Time Leadership

Abstract: This article examines the challenges of real-time leadership in today's fast-paced global business environment. Real-time leadership requires making decisions quickly with imperfect information, adapting plans on the fly, and motivating teams amid uncertainty. However, human cognition and organizational structures often inhibit real-time agility. Cognitive biases, limited working memory, and dual-processing systems make objective analysis difficult under pressure. Additionally, siloed functions, bureaucracy, and risk-averse cultures constrain flexibility and dynamism. The article explores these barriers and provides strategies for developing mental, structural, and compassionate capabilities to overcome them. It analyzes examples of effective and ineffective real-time leadership responses to COVID-19. The conclusion emphasizes that while real-time leadership will always pose difficulties, focused development in key areas can enhance adaptability during crises.

A re-evaluation of gender bias in receptiveness to scientific evidence of gender bias

Gender bias has been documented in many aspects of Science, Technology, Engineering and Mathematics (STEM) careers, yet efforts to identify the underlying causes have been inconclusive. To what extent do cognitive biases, including unequal receptiveness in women and men to evidence of gender bias, contribute to gender bias in STEM? We investigated receptiveness in a STEM context among members of the general public, by undertaking a high-powered (total N = 1171) replication, including three experiments (2 pre-registered) of the prominent study by Handley et al . [22]. It was hypothesized that men would evaluate a research summary reporting evidence of gender bias less favourably than women but that there would be no difference between men and women’s evaluations of research summaries unrelated to gender bias. The results revealed no effect of the assessor’s gender on receptiveness to scientific evidence of gender bias. The different results compared to those of Handley et al . [22] suggest either that the gender bias they detected has diminished in the past decade or that their findings are a false positive. The present research adds to a growing body of evidence suggesting that some influential studies on cognitive ‘markers’ of gender bias warrant re-examination.

A Double-Edged-Sword Effect of Overplacement: Social Comparison Bias Predicts Gambling Motivations and Behaviors in Chinese Casino Gamblers.

Overconfidence, a widely observed cognitive bias, has been linked to increased gambling motivations and behaviors. However, previous studies have largely overlooked overconfidence under a social comparison context, known as overplacement, i.e., the tendency of individuals to believe that they are better than their similar peers. In the present study, we tested the effect of overplacement on gambling motivations and behaviors though a Pilot Survey of Chinese college students (N = 129) and a Field Survey of Chinese Macao casino gamblers (N = 733). Our results revealed a double-edged sword effect of overplacement: Serving as a risk factor, evaluating one self's earning ability as higher than others was linked to more gambling motivations (β = 0.18, p = .005) and frequency (β = 0.18, p = .004); Serving as a protective factor, evaluating oneself as happier than others was linked to less gambling motivations (β = - 0.32, p < .001) and problem behaviors (β = - 0.26, p < .001). These findings expand the relationship between overconfidence and gambling from a cognitive bias perspective to a social comparison perspective. Our study not only revealed a typical profile of gambling motivations and behaviors among different demographic groups in Chinese casino gamblers, but also highlighted the importance of considering social factors in the study of the psychological mechanisms of gambling.

Role of the magnetic layer interface, roughness, and thickness in the temperature-dependent magnetic properties of Al2O3/Co/CoO thin films deposited by magnetron sputtering

Using the methods of atomic force and electron microscopy and the magneto-optical Kerr effect, the role of the interface, roughness, and thickness of the magnetic layer in the temperature-dependent magnetic properties of thin Al2O3–Co films with a naturally oxidized cobalt surface was studied. The layers were deposited by magnetron sputtering. The thickness of the cobalt layer varied from 2 to 100 nm. For the first time, the dependences of coercive forces and exchange displacements on the thickness of the cobalt film in the temperature range from 80 to 300 K were obtained and analyzed. The contribution to the coercive force and exchange displacement from the oxidized cobalt surface increases as the temperature decreases below 160 K. The magnitude of the contribution depends on the base material on which the cobalt film is deposited and is maximum for a cobalt film with a thickness of ∼20 nm in the Al2O3/Co structure. A weakly magnetic layer was found at the Al2O3/Co interface. The behavior of the exchange bias in this layer is similar to the behavior of a ferromagnetic Co core with a naturally oxidized CoO shell. The thickness of this layer depends on the speed and order of deposition of the layers. When the order of deposition of layers (Co/Al2O3) changes, the behavior of the exchange displacement of the interface becomes similar to that observed in the ferromagnet/antiferromagnet system. That is, when the deposition order changes, the value of the exchange shift changes sign when the cobalt layer thickness is below 10 nm.

Romantic bias in judging the attractiveness of faces wearing masks.

The spread of COVID-19 has drastically increased the number of people wearing masks in public areas and the opportunities to evaluate others' faces based on limited information. This study investigates the cognitive bias in judging the attractiveness of faces partially hidden by sanitary masks. Experiment 1 revealed that men rated women's faces as more attractive when wearing masks, specifically in the context of rating women as romantic partners; however, this mask bias was absent when men rated women as friends. On the other hand, women did not show the mask bias irrespective of the assumed social relationship. Experiment 2 demonstrated that the mask bias among elderly men was less affected by the assumed social relationship (or the possibility of reproduction), compared to young men, though they showed the bias itself. These results suggest that the cognitive strategies related to reproduction underlie the attractiveness judgment of the partial faces.

THE IMPACT OF ATTITUDE CHANGE FOR CLEANLINESS AMONG LOW COST FLAT RESIDENTS TOWARDS QUALITY OF LIFE IN JOHOR BAHRU, MALAYSIA

The primary cause of cleaning problems in low-cost flats is the attitude of the residents, who are frequently perceived as disliking their shared accountability and dedication to maintaining their dwelling zones. Hence, these attitudes will impact low-cost flats' quality of life (QOL). However, the relationship and effects of a change in attitude toward cleanliness from a property management perspective have received less attention in the literature. This study is conducted to determine attitude change factors for cleanliness among low-cost flat residents and to analyse the impact of attitude change factors towards resident's quality of life (QOL) near Johor Bahru. The quantitative method was used through a questionnaire survey from 100 respondents among low-cost residents. Descriptive analysis, factors analysis and correlation analyses were used for the data. The result shows that cognitive biases and belief formation are the top attitude change factors among the residents. The correlation between attitude change factors and QOL showed a strong correlation between cognitive and behavioural elements. This result can be a basis for further exploration of the change in the cleanliness attitude of low-cost residents.

Oesophageal intubations in anaesthetic practice across Australia and New Zealand: A webAIRS analysis of 109 incidents.

Oesophageal intubations are more common than may be realised and can potentially cause significant patient harm even if promptly identified and corrected. Reports of morbidity due to unrecognised oesophageal intubation continue to present in coroner and media reports. Therefore, it would be helpful to identify mechanisms to prevent these events and implement strategies to avoid and identify incorrect endotracheal tube placement. This analysis of oesophageal intubations reported to webAIRS aims to provide an in-depth analysis of all events in which oesophageal intubation occurred. WebAIRS is a web-based, bi-national incident reporting system collecting voluntarily reported anaesthetic events across Australia and New Zealand, with more than 10,500 incidents registered. A structured search through the webAIRS database identified 109 reports of oesophageal intubation reported between July 2009 and September 2022. A common cause of oesophageal intubation was the misidentification of the larynx due to a poor laryngeal view. Desaturation directly attributed to the misplaced endotracheal tube occurred in 43% of all reports. The authors precisely defined early recognised oesophageal intubation and delayed or unrecognised oesophageal intubation. Most reports (74%) described early recognition of the misplaced intubation, of which 27% led to directly contributed to hypoxia. Cardiovascular collapse as a direct consequence of the late recognition of oesophageal intubation was described in five (18%) of these events. There was inconsistency in end-tidal carbon dioxide monitoring and interpretation of the resulting waveform. Findings show that oesophageal intubation continues to be an issue in anaesthesia. Incidents described confusion in diagnosis, human factors issues and cognitive bias. Clear diagnostic guidance and treatment strategies are required to be developed, tested and implemented.

Pedagogical Reforms in the Initial Training of Moroccan Teachers: The Emergence of a New Training Paradigm and New Concepts

In recent decades, countries around the world, including Morocco, have undertaken far-reaching reforms of their education systems to improve performance and efficiency. The initial training of future Moroccan teachers has been the subject of an innovative reform, introducing a new paradigm conveying concepts conducive to change. This article examines why the change envisaged by the reforms has not taken place, focusing on the epistemological dimension. It analyzes the relationship between the signifier and the signified of three key concepts: professionalization, integrative alternation, and reflexivity. The reforms failed to bring about the desired changes because of epistemological drifts caused by semantic distortions and cognitive biases in the implementation of the transformation project. The success of the new educational paradigm depends not only on the intrinsic quality of the concepts but, above all, on their understanding, assimilation, and translation into practice. The major challenge lies in the ability to preserve the integrity of the paradigm throughout its deployment, from its theoretical conception to its application in the field.