Cross-cultural variations in probability judgment accuracy: beyond general knowledge overconfidence?
Article Abstract:
Cross-cultural differences in overconfidence is not limited to general knowledge but also applies to practical decision making. The Chinese culture has been found to have strong overconfidence traits while the Japanese exhibit the weakest. Moreover, the Chinese have been found to be constantly changing their decisions, attributed to the rare and infrequent reasoning tasks in the Chinese culture. Fundamental differences between cultures exists with regards to decision making. Cross-cultural differences imply that in circumstances where logic is the major deciding factor, disregarding cultural factors of decision makers may elicit erroneous results.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 1998
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Foreground: background salience: explaining the effects of graphical displays on risk avoidance
Article Abstract:
An attempt is made to determine the mechanisms underlying the graphical effect by Stone, Yates, and Parker, in which graphical formats for conveying risk information are more effective than numerical formats for increasing risk-avoidant behavior. The experiments of this research suggest the presence of a foreground background salience effect, whereby the key factor is whether attention is called to the number of people at risk of harm, or whether the focus is on number of people harmed.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 2003
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Professional vs. amateur judgment accuracy: The case of foreign exchange rates
Article Abstract:
There are reliable differences in the accuracy of judgments offered by professionals and amateurs. Research was tested in foreign exchange (FX) rate forecasting where forty professionals and fifty-seven sophisticated amateur forecasters made one-day and one-week-ahead FX predictions in deterministic and probabilistic formats.
Publication Name: Organizational Behavior & Human Decision Processes
Subject: Psychology and mental health
ISSN: 0749-5978
Year: 2003
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