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Reeder (Reeder, 1985; Reeder & Brewer, 1979) posited a schematic model of dispositional attributions to explain negativity effects in social cognition. However, in Reeder's schematic model of dispositional attributions, it is assumed that social perceivers' processing objective is to form an impression of a social actor. Based on Reeder and Brewer's hierarchical schema, it was predicted that mock jurors processing testimony under impression-set conditions would rate a witness to be more deceptive if the witness testified truthfully before lying than when the witness was caught lying first before telling the truth. Under memory-set conditions, based on the availability heuristic, mock jurors were predicted to rate the witness to be more deceptive when the witness lied first before telling the truth compared to when the witness told the truth first before lying. To test the hypothesis, subjects played the roles of mock jurors and watched a videotape of a witness presenting testimony during a trial. The witness was caught perjuring him- or herself by the attorney either on the first response to the attorney's queries or on the fourth response. Results confirmed the hypothesis. When subjects processed the attorney-witness interaction under impression-set objectives, subjects formed stronger judgments of the witness's deceptiveness when he or she lied on the first answer; the pattern was reversed under memory-set conditions.

Introduction: The environment that surrounds people is changing, unpredictable and uncertain, so in the use of the neo cerebral cortex, heuristics gain prominence in decision making, which in the business field is important to know the influence of the same in the support seeking successful sales in the commercial sector. This is related to local economies and the circulation of capital, the growth of wealth for the benefit of people. Objectives: To determine if the owners use heuristics to procure sales and observe what they do to enhance the chances of success for the commercialization of the products. Methodology: The study was conducted in a quantitative exploratory manner of a transactional nature through a survey designed with constructs to obtain the data. Results: It was determined that 81.31% of the population chosen in the Cuba neighborhood of the city of Manta uses heuristics as a fundamental tool in decision-making and in application of the heuristic principles of representativeness, availability, adjustment, and anchoring given that 76.77% of the owners improve the situation by having formal education. Conclusions: The owners do use heuristics, consciously or not, in an effort to sustain the operation of their businesses. At the same time, it was possible to observe that the behaviors obtained are of a fractal nature, which leads to continue exploring new polygons and that better strategies are determined to promote local economies based on trade, useful information for educational institutions, local governments, and private entrepreneurs. ; Introducción: El entorno que rodea a las personas es cambiante, impredecible e incierto por lo que en uso del neocórtex cerebral la heurística gana protagonismo en la toma de decisiones lo cual en el ámbito de negocios es importante conocer la influencia de este en el sostenimiento procurando ventas exitosas en el sector comercial. Esto se relaciona de forma directa con las economías locales y la circulación de capital, el crecimiento de la riqueza a beneficio ...

Reference points -- Reference based decisions in finance / Fernando Zapatero -- Professionalism and sophistication effects in finance -- Individuals investment in financial structured products from rational and behavioral choice perspectives / Moran Ofir and Zvi Wiener -- Is investor rationality time varying? : evidence from the mutual fund industry / Vincent Glode, Burton Hollifield, Marcin Kacperczyk and Shimon Kogan -- Are domestic household investors better performers than foreign institutions? : new evidence from Finland / Peter L. Swan and P. Joakim Westerholm -- Culture and gender effects -- The assessment of risk behavior : a cross-cultural analysis using the Dospert scale / Wolfgang Breuer, Jana Anette Kollath, Astrid Juliane Salzmann and Rudiger von Nitzsch -- Fear of negative evaluation, culture, gender, and financial welfare / Na Young Park -- Gender and personal finance management / Zohar Rusou , Moty Amar and Shahar Ayal -- Finance and the media -- The role of emotions in decision making : theory, evidence, and examples from media psychology / Gregory Gurevich and Doron Kliger -- Firm disclosure, media and the capital markets / Doron Kliger and Smadar Siev -- Heuristics and experiments in finance -- Heuristics and biases in the Israeli mortgage market / Yevgeny Mugerman, Moran Ofir and Zvi Wiener -- The availability heuristic and other psychological aspects of investors' reactions to company-specific events / Doron Kliger and Andrey Kudryavtsev -- Uniform or discriminatory auctions : endogenizing bidder's choice in divisible goods auctions / Menachem Brenner, Dan Galai and Orly Sade -- Factors affecting the impact of investors' horizon on asset allocation decisions : an -- Experimental exploration / Moty Amar and Yoram Kroll

Experts on the risk of flooding have developed very detailed maps for different parts of Switzerland that indicate the types of damage possible and the probabilities of adverse events. Four categories of risk severity are defined on the maps, ranging from high risk to no risk. Based on these existing maps, we selected respondents for a mail survey, some from areas high in risk and others from low‐risk regions. Respondents answered several questions related to flood risk perception and preparedness. Survey results showed that respondents' risk perceptions were correlated with the experts' risk assessments. Respondents who lived in areas designated "no risk" by the experts had lower perceptions of risk than respondents who lived in areas with higher levels of designated risk. With regard to concrete prevention behavior, no differences between people living in different risk areas were observed. Survey results further suggest that many inhabitants do not know that flooding maps exist for their region. Results suggest that in some regions people overestimate the risks associated with flooding. Consequently, some people are more afraid of flooding than is justified by the facts. Some people show prevention behavior that most likely is superfluous. However, in other regions people underestimate the risks associated with flooding. These people do not show prevention behavior, and they are not well prepared for an adverse event. Furthermore, results suggest that respondents' experiences with flooding are positively related to their perceptions of flood risk. Findings of the present study are in line with the availability heuristic.

The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important social, medical, and political situations as well. Individual chapters discuss the representativeness and availability heuristics, problems in judging covariation and control, overconfidence, multistage inference, social perception, medical diagnosis, risk perception, and methods for correcting and improving judgments under uncertainty. About half of the chapters are edited versions of classic articles; the remaining chapters are newly written for this book. Most review multiple studies or entire subareas of research and application rather than describing single experimental studies. This book will be useful to a wide range of students and researchers, as well as to decision makers seeking to gain insight into their judgments and to improve them

AbstractThis study adds to an emerging literature on the factors associated with individual perceptions of COVID‐19 risks and decision‐making processes related to prevention behaviors. We conducted a survey in the Netherlands (N = 3600) in June–July 2020 when the first peak of COVID‐19 infections, hospitalizations, and deaths had passed, and lockdown measures had been eased. Dutch policies relied heavily on individual prevention behaviors to mitigate a second infection wave. We examine whether biases and heuristics that have been observed in how people perceive and respond to other risks also apply to the newly emergent risks posed by COVID‐19. The results indicate that people simplify risk using threshold models and that risk perceptions are related with personal experiences with COVID‐19 and experiences of close others, supporting the availability heuristic. We also observe that prevention behavior is more strongly associated with COVID‐19 risk perceptions and feelings toward the risk than with local indicators of COVID‐19 risks, and that prevention behavior is related with herding. Support for government lockdown measures is consistent with preferences that may contribute to the not‐in‐my‐term‐of‐office bias. In addition, we offer insights into the role of trust, worry, and demographic characteristics in shaping perceptions of COVID‐19 risks and how these factors relate with individual prevention behaviors and support for government prevention measures. We provide several lessons for the design of policies that limit COVID‐19 risks, including risk communication strategies and appeals to social norms. Perhaps more importantly, our analysis allows for learning lessons to mitigate the risks of future pandemics.

Purpose
Because online shopping is risky, there is a strong need to develop better presentation of online reviews, which may reduce the perceived risk and create more pleasurable shopping experiences. To test the impact of online reviews' sentiment polarity presentation, the purpose of this paper is to adopt a scenario experiment to study consumers' decision-making process under the two scenarios of mixed presentation and classified presentation of online reviews collected from Jingdong.com in China: focusing on the comparative analysis on the differences of the consumers' perceived risk, purchase intention and purchase delay, and further studying the interaction effect of involvement and online reviews' sentiment polarity presentation.


Design/methodology/approach
This paper employed a 2×2 factorial experiment to test the hypothesis. The experimental design is divided into four groups: 2 (online reviews' sentiment polarity presentation: mixed presentation vs classified presentation) × 2 (involvement: low vs high), each of which contains 90 samples. Through the data analysis, the main effect, mediation effect and moderating effect were examined.


Findings
The results show that compared with mixed presentation, classified presentation can reduce purchase intention and increase purchase delay due to the existence of loss aversion and availability heuristic. Furthermore, the paper also confirms that there is a significant interaction effect between involvement and online reviews' sentiment polarity presentation.


Originality/value
The existing research pays less attention to the impact of online reviews presentation on consumers' decision making, especially the lack of discussion on the interaction effect between involvement and online reviews presentation. For this reason, this paper proposes a problem, which concerns whether mixed presentation and classified presentation of online reviews will affect consumers' decision making differently.

This study analyses heuristic factors affecting investor sentiment and investment decision-making in the Indian stock market. A quantitative approach is formulated with the questionnaire design for the collection of primary data regarding investor sentiment, representativeness heuristic bias, overconfidence and availability bias. The data are collected from the structured questionnaires from individual investors. The collected data were analysed using partial least square structural equation modelling to examine the relationship between the constructs: investor sentiment, representativeness heuristic bias, overconfidence and availability bias. This paper provides empirical insights into the association of heuristic factors that positively influence investor sentiment and investment decision-making. It encourages investors to make reasonable choices and to control and understand their risk. The study sheds light on the impact of investor sentiment on investment decision-making and its antecedent. It shows that investors depend on sentiment when making investment choices. Policymakers should provide consumers with knowledge and appreciation of the correct stock choice; various campaigns considering the different groups of investors will benefit decision-makers and institutional financial practitioners. This paper allows investors to pick the proper investment assistance to avoid making wrong decisions that arise as an outcome of the attitude of investors.

Purpose: To develop LIRP (location-inventory-routing problem) model with considering multiple links and solve it using method of heuristic based on algorithm of simulated annealing. Method of heuristic for the LIRP model is applied in city of Jakarta to improve effectiveness and efficiency of the food supply chain. Design/methodology/approach: The LIRP model is developed using main references. To solve the model, this paper develops two methods, namely method of optimal and method of heuristic. Computational experiments are performed to obtain the efficiency of the method of heuristic. New design of food supply chain is resulted from the application of the method of heuristic in city of Jakarta. Findings: The new design of food supply chain resulted from the application of LIRP model in city of Jakarta reduces total cost by 18%, increases availability from 76% to 95%, and reduces the number of vehicles by 73%. This paper also shows that distance is not the only consideration to decide the traversed links in cities. Research limitations/implications: Average gap between method of heuristic and method of optimal in terms of total cost is 3.1%. Practical implications: Government of city of Jakarta can improve effectiveness and efficiency of the food supply chain by implementing the LIRP model. Social implications: Citizens of Jakarta are well provided with their needs of vegetables and fruits. Originality/value: The first LIRP model that considers multiple links to represent road networks in cities. The LIRP model developed in this paper consists of probabilistic demands, multi products, and multi echelons. Traditional markets, UCCs (urban consolidation centers) and province of suppliers are the places where decisions of inventory made ; Peer Reviewed

In recent years, it has been made possible to compose exiting services when a user's request cannot be satisfied by a single web service. Web service composition is faced with several challenges among which is the rapid growth in the number of available web services leading to increased number of web services offering the same functionalities. The difference between similar services is Quality of Service (QoS) consisting of various non-functional factors such as execution time, availability, security, etc. As a result, multiple choices are possible in making a composition plan. Among numerous plans, selecting a composition plan that fulfills customer's requirements has become an important and time-consuming problem. In this paper, the researchers propose a semi-heuristic genetic algorithm that is a combination of both a heuristic method and the genetic algorithm. This heuristic method changes chromosomes based on unsatisfied constraints. Research findings show that the proposed method can be applied to find a composition plan that satisfies user's requirements more efficiently than other methods.

The role of information processing in understanding people's responses to risk information has recently received substantial attention. One limitation of this research concerns the unavailability of a validated questionnaire of information processing. This article presents two studies in which we describe the development and validation of the Information‐Processing Questionnaire to meet that need. Study 1 describes the development and initial validation of the questionnaire. Participants were randomized to either a systematic processing or a heuristic processing condition after which they completed a manipulation check and the initial 15‐item questionnaire and again two weeks later. The questionnaire was subjected to factor reliability and validity analyses on both measurement times for purposes of cross‐validation of the results. A two‐factor solution was observed representing a systematic processing and a heuristic processing subscale. The resulting scale showed good reliability and validity, with the systematic condition scoring significantly higher on the systematic subscale and the heuristic processing condition significantly higher on the heuristic subscale. Study 2 sought to further validate the questionnaire in a field study. Results of the second study corresponded with those of Study 1 and provided further evidence of the validity of the Information‐Processing Questionnaire. The availability of this information‐processing scale will be a valuable asset for future research and may provide researchers with new research opportunities.

The heat wave this summer, at the latest, has made the absence of water a socially acceptable issue of debate in European regions where otherwise little concern has been in place about the availability of water. Against the background of this topicality, this text will pursue the questions of "How is water actually known?" and "In what form can water be made the subject of quotidian as well as cultural anthropological knowledge?" Making Kirsten Hastrups "Waterworlds" project a starting point and based on current empirical findings, the text elaborates on the manifold heuristic potentials of existing work and discusses new perspectives for an anthropology of the present and the future that makes water its explicit subject.

AbstractThis paper describes a comprehensive simulation modeling approach to the problem of locating warehousing facilities in a fashion that minimizes the cost associated with operating a multi‐product, multi‐source, multi‐destination distribution system. The digital simulation model presented in the study is derived within an "industrial dynamics" framework, utilizes input from an existing management information system, and employs a number of relatively simple heuristic procedures to analyze various alternative warehousing networks. Simulation results, in terms of the distribution costs associated with various warehouse locations, are presented for cases involving the effect of provision of a 100% service level, the effect of constraining product availability and/or inventory capacities at various warehouses, and the effect of deleting various warehouses from the existing warehouse network.

The pedagogical value of experiential learning, or "learning-by-doing," has led to the widespread use of simulations and games in the social sciences and other disciplines. Despite some questions concerning the effective transmission of factual information through simulations and games, their value as heuristic devices in teaching is based on the experience gained by students in adopting strategies and making decisions in a group context, experiences so varied that they would be impossible to relate through conventional classroom techniques. The pressures and constraints of a simulated political environment challenge participants to (1) confront the limited availability of options and approaches for resolving problems; (2) develop a deeper understanding of the concepts, principles, and procedures involved; and (3) formulate and propose novel solutions that may not have otherwise occurred to them.