• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Asia pacific journal of information systems
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• v.26 no.2
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• pp.290-298
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• 2016

Human cognition and decision-making related to information systems (IS) is a major area of interest in IS research. Among these areas, cognitive bias rooted in behavioral economics is gaining considerable attention from researchers. In the present study, we identify the role of cognitive biases and discuss how they shape the information security behavior. We also seek research opportunities to provide directions and implications for future research.

• Korean Journal of Organic Agriculture
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• v.32 no.1
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• pp.25-37
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• 2024

This study is to apply behavioral economics-an economics that studies actual human behavior based on cognitive psychology-to the farming decision-making process of onion and garlic farmers. Of behavioral economic theories, dual system theory and prospect theory (value function), heuristic and bias were surveyed and examined in the field. The reference point of farmers was farming experience of the previous year, and so they showed reference dependence and anchoring heuristic, not rational thinking on production cost plan. And they showed status quo bias that cultivated continuously the previous year or the present crop. This status quo bias is related to loss aversion propensity. Farmers did not usually change cultivating crops, in other words, they showed diminishing sensitivity-insensitive to those that the more revenue or loss was increased. This diminishing sensitivity is related to loss aversion propensity and status quo bias. Also, farmers had representativeness heuristic because they regarded auction price of Garakdong wholesale market as the standard price level despite various prices by production region. And farmers had the affect heuristic that they depended on producers' organization data more than the state-run research institute ones about cultivation intentions and actual situations.

• 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.

• Korea Trade Review
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• v.46 no.1
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• pp.23-38
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• 2021

This paper investigated the preference change of payment terms in international trade along with counteroffer or first offer conditions of the other parties. Studies on trade payment terms have mainly focused on payment term determination factors such as firm size, product price level, country credit rate, etc. We tried to find other factors affecting payment terms choice, during the negotiation process. We applied behavioral economics theories such as 'Status Quo Bias' and 'Anchoring effect' to build our research model. To prove the existence of the above effects, we proceeded with field experiments to the exporting companies in Alibaba.com. Both 'Status Quo Bias' and 'Anchoring effect' were found in the field experiment. Most of the exporting companies preferred traditional payment methods to new payment methods. And an initial request for a low advance payment ratio led to a lower advance payment ratio. Also, the experience of using new payment methods could diminish status quo bias. This paper applied behavioral economics theories and field experiment methodology to the payment term studies in international trades. These attempts could contribute to expanding the diversity of methodology and scope of international trade studies.

• The Journal of Fisheries Business Administration
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• v.47 no.3
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• pp.71-92
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• 2016

This study examines the effects of consumer beliefs for food certifications on the behavioral intentions and the behavioral intention biases to purchase the certified seafoods by a subjective probability model which is on the basis of the mathematical probability model and the covariance model. The food certifications used on this study are 'Organic foods', 'Traceability system of food products' and. 'HACCP'. The representative foods of fishery products on this study is seasoned laver. The current study showed the following results. First, consumers have more than two different beliefs each for all certifications which are the subjects of this study. The beliefs of the certifications have an impact on the consumers when they consider to buy the certified seafood products. Second, consumers try to persuade by themselves to ensure that their particular belief about the certification could lead to a purchase the seafood products. Consumer beliefs of the "environmentally friendly production" on the organic foods certification is an important factor as much as the "guarantee of food safety" belief making a positive purchasing behavior intentions(PBI) bias for the organic seafood products. Consumers also have a positive PBI bias for certified seafood products in all certifications as long as a certification is considered to "guarantee the transparency of the food distribution process" as its belief. 'Traceability system' was the only one which didn't generate a positive PBI bias from the belief of "guarantee of food safety" out of three certifications.

• Anxiety and mood
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• v.10 no.1
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• pp.44-51
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• 2014

Objective : The amygdala has been considered to be a critical region in the pathophysiology of social anxiety disorder, but subregional connectivity pattern has not been examined yet despite lots of previous functional neuroimaging studies. Methods : Resting-state functional magnetic resonance imaging data was obtained in 19 patients with social anxiety disorder and 20 normal controls, and default mode functional connectivity with each of basolateral, centromedial and superficial areas of the amygdala was measured and compared between the two groups. Results : Differential amygdala-based networks between the two groups were distributed to all over the brain. In particular, however, a bias on the amygdala-cingulate pathway was observed in the superficial amygdala only. Connectivity strengths between the superficial amygdala and perigenual anterior cingulate cortex were correlated with scores of social interaction and avoidance. Conclusion : Our findings provide new insights into understanding of the intrinsic cognitive bias model of social anxiety disorder. An abnormality in superficial amygdala-anterior cingulate connectivity may influence on cognitive processing of socially-relevant information in social anxiety disorder.

• The Journal of the Korea Contents Association
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• v.22 no.8
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• pp.159-169
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• 2022

The study explored the key factors(content satisfaction factor, functional satisfaction factor, inertia factor and situational factor) that influence OTT users' continued use from the perspective of Behavioral Economics. In addition to rational factors that make OTT users feel satisfied after experiencing the contents and functions by the platform, we assumed that it would also affect habitual factors from the 'status quo bias'. To verify this, an online survey was conducted on 523 adults in 20s and 40s who have subscribed to the Top3 OTT platform(Netflix, Wavve, and Tving). As a result of regression analysis, 'content satisfaction factor', 'functional satisfaction factor' and 'inertia factor' were significant in OTT continued use. 'Inertia factor' did not affect domestic OTT users. Unlike previous studies that supposed OTT service users as beings with complete rationality, this study is meaningful to explain OTT continued use by applying 'bounded rationality'.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.13 no.5
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• pp.2491-2508
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• 2019

This research investigates the media consumers' behavior with behavioral economics perspective, especially regarding TV content viewers' behavior; how do online communications influence TV viewers' decision when choosing a new TV content among options. We focus on quantity and attribute of comments or reactions on the online news articles. We analyze that online communications data, which were generated before the first broadcast, affect the TV content consumers' choice for a new TV series. Here we identify a predicted utility, experienced utility and distinction bias in TV media consumption to find the effectiveness of the first viewing choice on whole TV series' episodes. To avoid the crucial influence by exogenous factors, such as season and social issue, the test was done with specific conditions. This research found that the total number of reactions to the comments by itself positively affects the audiences' decision-making behavior for a new TV content choice. This influence was regardless of favor/ non-flavor reactions. This study contributes to the literature on media economics and management by exploring the media content users' consuming behavior and making a first step for finding an important influencer on the media content consumption.

• Journal of Korean Academy of Nursing
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• v.46 no.4
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• pp.475-489
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• 2016

Purpose: This study was a systematic review and meta-analysis designed to investigate the effects of stimulation-oriented interventions for behavioral problems among people with dementia. Methods: Based on the guidelines of the Preferred Reporting Items for Systematic Reviews and Meta-analyses (PRISMA), a literature search was conducted using seven electronic databases, gray literature, and other sources. Methodological quality was assessed using the Scottish Intercollegiate Guidelines Network (SIGN) for randomized controlled trials (RCTs). Data were analyzed using R with the 'meta' package and the Comprehensive Meta-Analysis (CMA 2.0) program. Results: Sixteen studies were included for meta-analysis to investigate the effect of stimulation-oriented interventions. The quality of individual studies was rated as '++' for eight studies and '+' for the rest. The effect sizes were analyzed according to three subgroups of interventions (light, music, and others); Hedges' g=0.04 (95% CI: -0.38~0.46), -0.23 (95% CI: -0.56~0.10), -0.34 (95% CI: -0.34~0.00), respectively. To explore the possible causes of heterogeneity ($I^2=62.8%$), meta-regression was conducted with covariates of sample size, number of sessions, and length of session (time). No moderating effects were found for sample size or number of sessions, but session time showed a significant effect (Z=1.96, 95% CI: 0.00~0.01). Finally, a funnel plot along with Egger's regression test was performed to check for publication bias, but no significant bias was detected. Conclusion: Based on these findings, stimulation-oriented interventions seem to have a small effect for behavioral problems among people with dementia. Further research is needed to identify optimum time of the interventions for behavioral problems among dementia pateints.