Browse
Submit Data
Databases
API
Help

Dataset Information

16 Views

0 Connections

0 Citations

0 Reanalyses

0 Downloads

Omics score: 0

People's Financial Choice Depends on their Previous Task Success or Failure.

ABSTRACT: Existing knowledge about the impact of the experience prior to financial choices has been limited almost exclusively to single risky choices. Moreover, the results obtained in these studies have not been entirely consistent. For example, some studies suggested that the experience of success makes people more willing to take a risk, while other studies led to the opposite conclusions. The results of the two experimental studies presented in this paper provide evidence for the hypothesis that the experience of success or failure influences people's financial choices, but the effect of the success or failure depends on the type of task (financial and non-financial) preceding a financial decision. The experience of success in financial tasks increased participants' tendency to invest and make risky investment choices, while it also made them less prone to save. On the other hand, the experience of failure heightened the amount of money that participants decided to save, and lowered their tendency to invest and make risky investment choices. However, the effects of the experience of success or failure in non-financial tasks were exactly the opposite. The presented studies indicated the role of the specific circumstances in which the individual gains the experience as a possible way to explain the discrepancies in the results of studies on the relationship between the experience prior to financial choice with a tendency to take risks.

SUBMITTER: Sekscinska K

PROVIDER: S-EPMC4646967 | biostudies-literature |

REPOSITORIES: biostudies-literature

ACCESS DATA

Json Xml

Similar Datasets

Knowledge of Previous Tasks: Task Similarity Influences Bias in Task Duration Predictions.

Project description:Bias in predictions of task duration has been attributed to misremembering previous task duration and using previous task duration as a basis for predictions. This research sought to further examine how previous task information affects prediction bias by manipulating task similarity and assessing the role of previous task duration feedback. Task similarity was examined through participants performing two tasks 1 week apart that were the same or different. Duration feedback was provided to all participants (Experiment 1), its recall was manipulated (Experiment 2), and its provision was manipulated (Experiment 3). In all experiments, task similarity influenced bias on the second task, with predictions being less biased when the first task was the same task. However, duration feedback did not influence bias. The findings highlight the pivotal role of knowledge about previous tasks in task duration prediction and are discussed in relation to the theoretical accounts of task duration prediction bias.

| S-EPMC5976789 | biostudies-literature

Inter-task transfer of prism adaptation depends on exposed task mastery.

Project description:The sensorimotor system sets up plastic alterations to face new demands. Terms such as adaptation and learning are broadly used to describe a variety of processes underlying this aptitude. The mechanisms whereby transformations acquired to face a perturbation generalize to other situations or stay context-dependent remain weakly understood. Here, we compared the performance of hand pointing vs throwing to visual targets while facing an optical shift of the visual field (prismatic deviation). We found that the transfer of compensations was conditioned by the task performed during exposure to the perturbation: compensations transferred from pointing to throwing but not at all from throwing to pointing. Additionally, expertise on the task performed during exposure had a marked influence on the amount of transfer to the non-exposed task: throwing experts (dart players) remarkably transferred compensations to the pointing task. Our results reveal that different processes underlying these distinct transfer properties may be at work to face a given perturbation. Their solicitation depends on mastery for the exposed task, which is responsible for different patterns of inter-task transfer. An important implication is that transfer properties, and not only after-effects, should be included as a criterion for adaptation. At the theoretical level, we suggest that tasks may need to be mastered before they can be subjected to adaptation, which has new implications for the distinction between learning and adaptation.

| S-EPMC7105469 | biostudies-literature

Control of visual adaptation depends upon task.

Project description:The visual system optimizes its functioning for a given environment through processes collectively called adaptation. It is currently unknown, however, whether adaptation is affected by the particular task the observer performs within that environment. Two experiments tested whether this is the case. Observers adapted to high contrast grating patterns, and the decay of adaptation was measured using a version of the tilt-aftereffect, while they performed two different secondary tasks. One task involved judging the luminance of a small circular spot at fixation, and was expected to be unaffected by adaptation. The other secondary task involved judging a low contrast grating, and adaptation was expected to make this task difficult by reducing the visibility of the grating. Identical displays containing both a fixation spot and a grating were used for both tasks. Tilt-aftereffects were smaller when subjects concurrently performed the grating task than when they performed the fixation task. These results suggest that the control of adaptation, in this case its decay, is sensitive to the nature of the task the observer is performing. Adaptation may attempt to optimize vision with respect to many different criteria simultaneously; task is likely one of the criteria included in this process.

| S-EPMC7046198 | biostudies-literature

Reactivation of Previous Experiences in a Working Memory Task.

Project description:Recent experiences influence the processing of new information even when those experiences are irrelevant to the current task. Does this reflect the indirect effects of a passively maintained representation of the previous experience, or is this representation reactivated when a new event occurs? To answer this question, we attempted to decode the orientation of the stimulus on the previous trial from the electroencephalogram on the current trial in a working memory task. Behavioral data confirmed that the previous-trial stimulus orientation influenced the reported orientation on the current trial, even though the previous-trial orientation was now task irrelevant. In two independent experiments, we found that the previous-trial orientation could be decoded from the current-trial electroencephalogram, indicating that the current-trial stimulus reactivated or boosted the representation of the previous-trial orientation. These results suggest that the effects of recent experiences on behavior are driven, in part, by a reactivation of those experiences and not solely by the indirect effects of passive memory traces.

| S-EPMC6472175 | biostudies-literature

Monosynaptic Tracing Success Depends Critically on Helper Virus Concentrations.

Project description:Monosynaptically-restricted transsynaptic tracing using deletion-mutant rabies virus (RV) has become a widely used technique in neuroscience, allowing identification, imaging, and manipulation of neurons directly presynaptic to a starting neuronal population. Its most common implementation is to use Cre mouse lines in combination with Cre-dependent "helper" adeno-associated viral vectors (AAVs) to supply the required genes to the targeted population before subsequent injection of a first-generation (?G) rabies viral vector. Here we show that the efficiency of transsynaptic spread and the degree of nonspecific labeling in wild-type control animals depend strongly on the concentrations of these helper AAVs. Our results suggest practical guidelines for achieving good results.

| S-EPMC7033752 | biostudies-literature

The HexMaze: A Previous Knowledge Task on Map Learning for Mice.

Project description:New information is rarely learned in isolation; instead, most of what we experience can be incorporated into or uses previous knowledge networks in some form. Previous knowledge in form of a cognitive map can facilitate knowledge acquisition and will influence how we learn new spatial information. Here, we developed a new spatial navigation task where food locations are learned in a large, gangway maze to test how mice learn a large spatial map over a longer time period-the HexMaze. Analyzing performance across sessions as well as on specific trials, we can show simple memory effects as well as multiple effects of previous knowledge of the map accelerating both online learning and performance increases over offline periods when incorporating new information. We could identify the following three main phases: (1) learning the initial goal location; (2) faster learning after 2 weeks when learning a new goal location; and then (3) the ability to express one-session learning, leading to long-term memory effect after 12 weeks. Importantly, we are the first to show that buildup of a spatial map is dependent on how much time passes, not how often the animal is trained.

| S-EPMC8362685 | biostudies-literature

A multiple-choice task with changes of mind.

Project description:The role of changes of mind and multiple choices has recently received increased attention in the study of perceptual decision-making. Previously, these extensions to standard two-alternative tasks have been studied separately. Here we explored how changes of mind depend on the number of choice-alternatives. To this end, we tested 14 human subjects on a 2- and 4-alternative direction-discrimination task. Changes of mind in the participants' movement trajectories could be observed for two and for four choice alternatives. With fewer alternatives, participants responded faster and more accurately. The frequency of changes of mind, however, did not significantly differ for the different numbers of choice alternatives. Nevertheless, mind-changing improved the participants' final performance, particularly for intermediate difficulty levels, in both experimental conditions. Moreover, the mean reaction times of individual participants were negatively correlated with their overall tendency to make changes of mind. We further reproduced these findings with a multi-alternative attractor model for decision-making, while a simple race model could not account for the experimental data. Our experiment, combined with the theoretical models allowed us to shed light on: (1) the differences in choice behavior between two and four alternatives, (2) the differences between the data of our human subjects and previous monkey data, (3) individual differences between participants, and (4) the inhibitory interaction between neural representations of choice alternatives.

| S-EPMC3420910 | biostudies-literature

The affective impact of financial skewness on neural activity and choice.

Project description:Few finance theories consider the influence of "skewness" (or large and asymmetric but unlikely outcomes) on financial choice. We investigated the impact of skewed gambles on subjects' neural activity, self-reported affective responses, and subsequent preferences using functional magnetic resonance imaging (FMRI). Neurally, skewed gambles elicited more anterior insula activation than symmetric gambles equated for expected value and variance, and positively skewed gambles also specifically elicited more nucleus accumbens (NAcc) activation than negatively skewed gambles. Affectively, positively skewed gambles elicited more positive arousal and negatively skewed gambles elicited more negative arousal than symmetric gambles equated for expected value and variance. Subjects also preferred positively skewed gambles more, but negatively skewed gambles less than symmetric gambles of equal expected value. Individual differences in both NAcc activity and positive arousal predicted preferences for positively skewed gambles. These findings support an anticipatory affect account in which statistical properties of gambles--including skewness--can influence neural activity, affective responses, and ultimately, choice.

| S-EPMC3039661 | biostudies-literature

Second-to-fourth digit ratio predicts success among high-frequency financial traders.

Project description:Prenatal androgens have important organizing effects on brain development and future behavior. The second-to-fourth digit length ratio (2D:4D) has been proposed as a marker of these prenatal androgen effects, a relatively longer fourth finger indicating higher prenatal androgen exposure. 2D:4D has been shown to predict success in highly competitive sports. Yet, little is known about the effects of prenatal androgens on an economically influential class of competitive risk taking-trading in the financial world. Here, we report the findings of a study conducted in the City of London in which we sampled 2D:4D from a group of male traders engaged in what is variously called "noise" or "high-frequency" trading. We found that 2D:4D predicted the traders' long-term profitability as well as the number of years they remained in the business. 2D:4D also predicted the sensitivity of their profitability to increases both in circulating testosterone and in market volatility. Our results suggest that prenatal androgens increase risk preferences and promote more rapid visuomotor scanning and physical reflexes. The success and longevity of traders exposed to high levels of prenatal androgens further suggests that financial markets may select for biological traits rather than rational expectations.

| S-EPMC2626753 | biostudies-literature

Mice adaptively generate choice variability in a deterministic task.

Project description:Can decisions be made solely by chance? Can variability be intrinsic to the decision-maker or is it inherited from environmental conditions? To investigate these questions, we designed a deterministic setting in which mice are rewarded for non-repetitive choice sequences, and modeled the experiment using reinforcement learning. We found that mice progressively increased their choice variability. Although an optimal strategy based on sequences learning was theoretically possible and would be more rewarding, animals used a pseudo-random selection which ensures high success rate. This was not the case if the animal is exposed to a uniform probabilistic reward delivery. We also show that mice were blind to changes in the temporal structure of reward delivery once they learned to choose at random. Overall, our results demonstrate that a decision-making process can self-generate variability and randomness, even when the rules governing reward delivery are neither stochastic nor volatile.

| S-EPMC6972896 | biostudies-literature

OmicsDI is part of the ELIXIR infrastructure

OmicsDI is an Elixir interoperability service. Learn more ›

Tweets

OmicsDI Databases

PRIDE
PeptideAtlas
MassIVE
JPOST Repository
Physiome Model Repository

EGA
EVA
ENA
LINCS
PAXDB
Cell Collective

MetaboLights
Metabolomics Workbench
MetabolomeExpress
GNPS
BioModels
FAIRDOMHub

ArrayExpress
dbGaP
ExpressionAtlas
GEO
NODE

Information

Databases
Help
API
Contact us
Code on GitHub
Terms of use
Submit Data