Default rules in investment decision-making:trait anxiety and decision-making styles

This study investigates the role of default options in the relationship between trait anxiety,and decision-making styles and financial decisions.One hundred and ninety-four participants were divided into three groups and subjected to three different conditions.Under each experimental condition,they had to decide whether to accept or reject investment proposals.In the first group,they had been enrolled in investment plans by default(opt-out condition),in the second group,they had not been automatically enrolled in these plans(opt-in condition),and in the third group they had to choose whether to enroll or not(control condition).The results showed that the investment decisions of anxious,avoidant,rational and dependent individuals could be facilitated by default options.In conclusion,using default options as a“nudge”can support specific groups of people to improve their financial decisions.

A Study on Income as a Determinant of Buying Decision-making StylesAdyasha

The following paper attempts to understand if income determines the buying decision-making styles of consumers in Bhubaneswar,the capital city of Odisha,a state located on eastern India.A total of 103 respondents of Bhubaneswar were chosen by using the Mall intercept method.The samples were classified into three groups based on their average annual family income such as High Income,Middle Income and Low Income groups.Exploratory Factor Analysis was carried to identify the decision-making styles.ANOVA was employed to compare the shopping styles of these three income sub-groups.Results indicate that differences in consumer shopping styles exist among the income sub-groups.Findings of the study can be used by marketers for segmentation,targeting and positioning of retail shoppers which may facilitate them to compete efficiently.It is recommended that different income sub-groups should be viewed as distinct consumer segments and strategies should be formulated to cater each segment effectively.

Comparison of decision-making in neonatal care between China and Japan

Background Various differences between China and Japan in approaches to medical treatment have been noted,but a few studies have examined differences in medical decision-making,especially in neonatal care.The aim of this study was to clarify these differences by means of a questionnaire.Methods The subjects were physicians on the staff of NICUs in China and Japan.The study questionnaire consisted of three parts dealing with the general characteristics of the participants,questions about treatment strategies for hypothetical,critically ill infants,and general questions about the treatment of foreign patients.The Likert scale was used to assess the treatment strategies and the results were analyzed statistically.Subgroup analysis by age,sex,and medical and NICU experience was also performed.Results The proportion of respondents in the Chinese and Japanese groups was 26/26 (100%) and 26/31 (84%),respectively.There was a significant difference between the Chinese and Japanese groups for 8 of 75 questions;Chinese physicians chose the positive treatment or examination options for these eight questions unlike their Japanese counterparts.The responses of the younger,less experienced physicians in both countries were more similar to each other,and more positive than those of their older,more experienced colleagues.Conclusion Chinese physicians showed a more positive attitude toward examination and treatment,whereas Japanese physicians showed a more cautious attitude.

Organizational Psychology in the 21st Century: The Big Five Theory Contribution in the Modern Workplace

The Big Five Theory is considered as the most prominent personality theoretical approach in psychology.This paper aims to discuss the contribution of the Big Five Theory in the modern workplace.Which personality traits are more predictive for job performance?Which traits should organizations take more in consideration during recruitment and selection processes?What is the meaning of motivation in the workplace and how employers could locate individuals who can be more productive,efficient,and engaged to the organization’s goals according to the Big Five personality model?The above questions are answered through the systematic review of previous contemporary studies.After the collection and review of several recent publications,regarding this subject,it was concluded that the application of this model positively affects employees’and group performance,working relationships,managers’work performance as well as innovation in workplace.