New Economics Papers
on Neuroeconomics
Issue of 2011‒01‒23
three papers chosen by

  1. Learning, Generalization and the Perception of Information: an Experimental Study By Novarese, Marco; Lanteri, Alessandro; Tibaldeschi, Cesare
  2. Understanding Knowledge Sharing In Organizations: Further Questions Of Research Through A Social Cognitive Perspective By Llopis-Corcoles, Oscar
  3. Who lost the most? Financial Literacy, Cognitive Abilities, and the Financial Crisis By Bucher-Koenen, Tabea; Ziegelmeyer, Michael

  1. By: Novarese, Marco; Lanteri, Alessandro; Tibaldeschi, Cesare
    Abstract: This article experimentally explores the way in which human agents learn how to process and manage new information. In an abstract setting, players should perform an everyday task: selecting information, making generalizations, distinguishing contexts. The tendency to generalize is common to all participants, but in a different way. Best players have a stringer tendency to generalise rules. A high score is, in fact, associated with low entropy for mistakes, that is with a tendency to repeat the same mistakes over and over. Though the repetition of mistakes might be considered a failure to properly employ feedback or a bias, it may instead turn out as a viable and successful procedure. This result is connected to the literature on learning.
    Keywords: behavioural entropy; cognitive economics; complexity; experiments; feedback; heuristics; learning
    JEL: A12 D83 C91
    Date: 2010
  2. By: Llopis-Corcoles, Oscar
    Abstract: Enabling knowledge sharing among individuals in organizations is fundamental to innovation and organizational success. Nevertheless, despite receiving great attention among both academics and practitioners, knowledge sharing research is still searching for integrated framework. Recent literature reviews shows that most of the existing research has centered on a macro perspective, attaching less emphasis on the integration of the individual in the process. Being aware of this, an increasing group of scholars have proposed a multi-level integration of the individual and the organizational perspectives. This paper argues that this new approach that is grounded on sociology provides appropriate research questions, but might not be enough to successfully answer them, since is rooted in a sociological vision of the individual. Knowledge sharing literature might pay more attention to the reciprocal interaction of personal factors, individual behavior and organizational environment. A possible way to fill this gap can be by viewing the topic through the lens of the social cognitive theory. This theory permits a better integration of existing research of some psychosocial topics such as vicarious learning, self-efficacy, cognitive biases and schemas.
    Keywords: Knowledge management; knowledge sharing; multilevel model; social cognitive theory
    JEL: M12 O31
    Date: 2011–01–11
  3. By: Bucher-Koenen, Tabea; Ziegelmeyer, Michael (Mannheim Research Institute for the Economics of Aging (MEA))
    Abstract: We study how and to what extent private households are affected by the recent financial crisis and how their financial decisions are influenced by this shock. Our analysis reveals that individuals with low levels of financial literacy are less likely to have invested in the stock market and thus are less likely to report losses in wealth. Yet, individuals with low financial literacy are more likely to sell their assets which lost in value (realize losses). This reaction to short-term losses has potential long-term consequences if individuals do not participate in markets' recovery and face lower returns in the long run.
    JEL: D91 D14 G11
    Date: 2011–01–10

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NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.