• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.535-543
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• 2020

Investors from the whole world are looking for those stock markets that are less affected by interest rates. Pakistan is a good place to invest and the investors from the whole world are considering Pakistan for future ventures. The current study, therefore, aims to analyze the factors affecting investors' decision making in Pakistan with the interaction effect of locus of control. The primary data are gathered from 300 respondents. Structural equation modelling (SEM-PLS) is used to analyze the interactions among variables. The study finds positive impact of availability and representative biases on investment decision making. The study could not find any moderating role of locus of control. The results imply that decisions made by Pakistani investors are driven by the most easily or currently available information and they trust on the information obtained from family and friends without any authentication and verification. One possible description of insignificant moderation effect of locus of control can be the sample traits used in the study, e.g., personal characteristics, that change from culture to culture. Another description of these findings may be the association between heuristic biases, including availability, representative and psychological biases and decision-making regarding investment is not personality specific.

• Journal of Applied Reliability
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• v.14 no.1
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• pp.1-9
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• 2014

One important measure of performance for a repairable system is steady-state availability. In this paper, a method to estimate and establish confidence interval for the steady-state availability under Weibull lifetime and lognormal repair time distributions is proposed. Also, bias and mean squared error of a point estimator for an availability are investigated. In addition, a procedure to derive the sample size and critical value for availability demonstration test is presented and illustrated with a numerical example.

• Journal of Information Science Theory and Practice
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• v.8 no.2
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• pp.18-31
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• 2020

Cognitive biases can influence human information behaviour and decisions made in information behaviour and use. This study aims to identify the biases involved in some aspects of information behaviour and the role they play in information behaviour and use. Twenty-five semi-structured face-to-face interviews were conducted in an exploratory qualitative study with graduate (MA and PhD) students who were at the stage of their dissertation/thesis research. Eisenberg & Berkowitz Big6^TM Skills for Information Literacy was adopted as a framework for interviews and the analysis was done using grounded theory coding method. The findings revealed the presence of twenty-eight biases in different stages of information behaviour, including availability bias (affects the preference for information seeking strategies), attentional bias (leads to biased attention to some information), anchoring effect (persuades users to anchor in special parts of information), confirmation bias (increases the tendency to use information that supports one's beliefs), and choice-supportive bias (results in confidence in information seeking processes). All stages of information seeking were influenced by some biases. Biases might result in a lack of clarity in defining the information needs, failure in looking for the right information, misinterpretation of information, and might also influence the way information is presented.

• Journal of The Korean Association For Science Education
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• v.36 no.6
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• pp.935-946
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• 2016

This study aims to explore cognitive biases relating the core competences of science and instructional strategy in reducing the level of cognitive biases. The literature review method was used to explore cognitive biases and science education experts discussed the relevance of cognitive biases to science education. Twenty nine cognitive biases were categorized into five groups (limiting rational causal inference, limiting diverse information search, limiting self-regulated learning, limiting self-directed decision making, and category-limited thinking). The cognitive biases in limiting rational causal inference group are teleological thinking, availability heuristic, illusory correlation, and clustering illusion. The cognitive biases in limiting diverse information search group are selective perception, experimenter bias, confirmation bias, mere thought effect, attentional bias, belief bias, pragmatic fallacy, functional fixedness, and framing effect. The cognitive biases in limiting self-regulated learning group are overconfidence bias, better-than-average bias, planning fallacy, fundamental attribution error, Dunning-Kruger effect, hindsight bias, and blind-spot bias. The cognitive biases in limiting self-directed decision-making group are acquiescence effect, bandwagon effect, group-think, appeal to authority bias, and information bias. Lastly, the cognitive biases in category-limited thinking group are psychological essentialism, stereotyping, anthropomorphism, and outgroup homogeneity bias. The instructional strategy to reduce the level of cognitive biases is disused based on the psychological characters of cognitive biases reviewed in this study and related science education methods.

• Nuclear Engineering and Technology
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• v.28 no.5
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• pp.467-481
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• 1996

An integrated framework of modeling the human operator cognitive behavior during nuclear power plant accident scenarios is presented. It incorporates both plant and operator models. The basic structure of the operator model is similar to that of existing cognitive models, however, this model differs from those existing ones largely in too aspects. First, using frame and membership function, the pattern matching behavior, which is identified as the dominant cognitive process of operators responding to an accident sequence, is explicitly implemented in this model. Second, the non-task-related human cognitive activities like effect of stress and cognitive biases such as confirmation bias and availability bias, are also considered. A computer code, OPEC is assembled to simulate this framework and is actually applied to an SGTR sequence, and the resultant simulated behaviors of operator are obtained.

• Journal of the Korean Operations Research and Management Science Society
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• v.21 no.3
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• pp.109-125
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• 1996

Biases and errors in the human being's reasoning process have been studied continuously by the researchers, especially psychlogists and social scientists. These bias phenomenon is classified on the basis of the origin, i. e. motivation and cognition. Furthermore the necessity of research on the bias in the management and management information system areas in increased more and more recently, which have their academic backgrounds in the psychology and social science. The biased information stream is transformed into the systematic error due to the motivation and cognitive bias of human-being, then its resulting phenomena are as follows; 1. the availability of salient information 2. preconceived ideas or theories about peoples and event 3. anchoring and perseverence phenomena. In order to reduce the information errors, Satty suggested the Analytic Hierarchy Process (AHP) that is the subject of this paper and that is widely used for evaluation of complex decision making alternatives. THerefore this paper studies AHP's effects and its limitations in applying to the management area. Thus this paper compared the performances of the 3 models : 1 the traditional additive regression model. 2 regression model using the factor score, and 3 the regression model with AHP. As a result, 3 models produce the different outcomes.

• Journal of Aerospace System Engineering
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• v.7 no.1
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• pp.8-18
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• 2013

Recently, the advanced condition monitoring methods such as the model-based method and the artificial intelligent method have been applied to maximize the availability as well as to minimize the maintenance cost of the aircraft gas turbines. Among them the non-linear GPA(Gas Path Analysis) method and the GA(Genetic Algorithms) have lots of advantages to diagnose the engines compared to other advanced condition monitoring methods such as the linear GPA, fuzzy logic and neural networks. Therefore this work applies both the non-linear GPA and the GA to diagnose AE3007 turbofan engine for an aircraft, and in case of having sensor noise and bias it is confirmed that the GA is better than the GPA through the comparison of two methods.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.285-294
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• 2021

The most basic forces of stock market are supply and demand, which increases or decreases on the basis of information. The crucial point is that investor's perception is depending on the availability of information at a particular time. But it is very difficult to understand what they take from a piece of information, and the decision varies from person to person; hence, it is important to understand the behavior of investors in the stock market. In this context, this study is focusing on behavioral investor-type diagnosis testing among financial market players (FMPs) in Oman. The study conducted a review of behavioral types among stock market investors, and attempted to assess the influence of age and gender factors on investor bias. It classifies investor type biases according to the gender and age of respondents. This study employs primary data with a structured questionnaire distributed to an equal number of male and female stock market investors in Muscat Securities Market. The study used sample t-test, one-way ANOVA, CATPCA and ALSCAL to identify the significant difference among age, gender and experience of the respondents. The present study found that all of the investors are influenced by different cognitive biases and, moreover, it depends on investor's gender.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.1-8
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• 2022

Despite increasing damages caused by violations of COVID-19 precautions, studies on violations of precautions have not yet received much attention. This study identified antecedents that could theoretically influence the intention to violate COVID-19 precautions based on the black swan theory, and collected 215 responses by conducting an online survey from February 11, 2021 to March 10, 2021. As a result of the regression analysis, this study found that dissonance with COVID-19 preventive information, representativeness bias, and availability bias increase the intention to violate COVID-19 precautions. However, optimistic bias did not have a significant effect on the intention to violate precautions. This study not only provides new antecedents but also suggests theoretical evidence for decreasing intention to violate precautions. This study also proposes the necessity to identify differences in violation intention by regions, countries, and theories.

• Journal of the Korean Magnetics Society
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• v.13 no.5
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• pp.193-197
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• 2003

To materialize the magnetoelastic devices, such as a highly functional sensor and a signal processing device, using the Fe base amorphous film which has both excellent soft magnetic and magnetostrictive properties, in this study, a new method to control the magnetic anisotropy of a highly magnetostrictive film using bias stress has been proposed and tested. The film pattern, which was stressed by its substrate bending, was subjected to annealing for relieving its stress. Successively, the compressive stress occurred by flattening the substrate was formed in the pattern. With the introduction of the residual compressive stress, the magnetization of the film pattern was aligned in the transverse direction through magnetoelasic coupling. The magnetic domain structure and magnetization curve of the film pattern of which magnetic anisotropy was controlled by the proposed method were presented to verify the availability of the method.