infonet-economy

We investigated behavioral and neurobiological mechanisms by which risk-averse advice,provided by an expert, affected risky decisions across three developmental groups [earlyadolescents (12-14 years), late adolescents (15-17 years), adults (18+ years)]. Using cumulativeprospect theory, we modeled choice behavior during a risky-choice task. Results indicate thatadvice had a...

It is increasingly clear that simple decisions are made by computing decision values for the options under consideration, and then comparing these values to make a choice. Computational models of this process suggest that it involves the accumulation of information over time, but little is known about the temporal course of valuation in the brain. To examine this, we manipulated the...

High-performance work systems give workers more discretion, thereby increasing effortproductivity but also shirking opportunities. We show experimentally that screening for workattitude and labor market competition are causal determinants of the viability of high-performancework systems, and we identify the complementarities between discretion, rent-sharing, andscreening that render...

As the recipients of the 2012 science Nobel prizes gather in Stockholm to celebrate and be celebrated, News & Views shares some expert opinions on the achievements honoured.

The US recession of 1937–8 is one of the deepest on record. Yet it did not produce a global depression – quite unlike 1930. According to the standard view, this reflected an unfettering of central banking after the collapse of the international gold standard circa 1931. We challenge this view. While Germany and a couple of Central and Eastern European countries were sheltered by...