<p>Sociocultural and economic limitations often deprive individuals of the freedoms to make decisions regarding their lives, hindering development. This article presents the Framework for Enabling Empowerment (FrEE), a model that emphasizes the importance of psychosocial factors and the individual...</p>

Decision makers and forecasters often receive advice from different sources including human experts and statistical methods. This research examines, in the context of stock price forecasting, how the apparent source of the advice affects the attention that is paid to it when the mode of delivery...

A number of studies have shown that providing point forecasts to decision makers can lead to improved production planning decisions. However, point forecasts do not convey information about the level of uncertainty that is associated with forecasts. In theory, the provision of prediction...

Direct and indirect techniques are being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique, is the most logically suited, especially for capturing the shadow or implicit price of a characteristic such as...

We examine the impact of individual-specific information processing strategies (IPSs) on the inclusion/exclusion of attributes on the parameter estimates and behavioural outputs of models of discrete choice. Current practice assumes that individuals employ a homogenous IPS with regards to how...

Generally speaking, psychologists have suggested three traditional views of how people cope with uncertainty. They are the certainty maximiser, the intuitive statistician-economist and the knowledge seeker (Smithson, 2008). In times of uncertainty, such as the recent global financial crisis,...

Concurrent schedules may be viewed as consisting of two pairs of stay and switch schedules, each pair associated with one of the alternatives. A stay schedule arranges reinforcers for staying and responding at one alternative, whereas the associated switch schedule arranges reinforcers for...

Performance on concurrent schedules can be decomposed to run lengths (the number of responses before switching alternatives), or visit durations (time at an alternative before switching alternatives), that are a function of the ratio of the rates of reinforcement for staying and switching. From...

This study investigates the influence of past volatility on individual investors' forecasting behavior. We conducted two experiments in which we used real stock prices to construct low- and high-volatility time series, and asked participants to make both point estimates and interval forecasts of...

Optimal foraging theory proposes that animals obtain the highest rate of reinforcers for the least effort and momentary maximizing theory proposes that animals make the response that at that instant is most likely to be reinforced. While each theory may account for matching on concurrent...