Archive for April, 2018

Roland Imhoff

This week, Roland Imhoff visits from the University of Mainz to give a talk as part of the SWE Colloquium.

Using data-driven approaches to rethink the definitions of stereotypes and prejudices

Textbook definitions of intergroup attitudes typically distinguish between stereotypes and prejudices. The term ‘stereotypes’ denotes beliefs about how individuals are based on certain category memberships (X is shy because X is a librarian), thus an association between category and an attribute (not necessarily implying any valence). This is markedly different for prejudices that are often conceptualized akin to the affective aspect of attitudes. The term ‘prejudices’ is reserved for individuals’ affective reaction to people because of their category membership, i.e., an association between category and valence. Despite this relatively clear-cut definition, I will argue, the current state of the literature is muddled. Partially responsible for this confusion is the prominent Stereotype Content Model and its assertion that the primary dimension on which social groups are stereotypes is warmth. Inspired by a data-driven alternative stereotype content model (ABC) I will argue that warmth impressions are better conceptualized as prejudices than stereotypes as (a) warmth is almost synonymous with valence and (b) unlike other stereotype dimensions (e.g., agency, beliefs) warmth judgments are not consensual, but idiosyncratic. Reconciling the SCM and the ABC model, I will show that warmth (or communion) is of utmost importance to understand people’s emotional reactions and concrete behavior towards groups, but that to detect this, warmth has to be treated as idiosyncratic rather than socially shared. This has important implications not only for our theoretical understanding of category-based attitudes but also for concrete research practice.

Arkady Konovalov

Arkady Konovalov, from the University of Zürich, visits Basel this week to give a talk in the Social, Economic, and Decision Psychology Colloquium (Thursday 26 April).

Response time as strategic choice

We often use choices, which are typically discrete, to infer preferences. The choice process also produces response times (RTs), which are continuous and often can be easily observed. Using three choice tasks, we demonstrate that RTs, which typically peak at indifference, can supplement choices to infer individual preferences, and can be used to recover individual utility functions in the absence of choice data. This begs the question of whether individuals can exploit this information. In a bargaining experiment, we find that buyers tend to quickly reject unreasonably high prices but take more time to respond to offers that are close to their valuation. This allows sellers to infer buyers’ values from observable RTs, creating an incentive for buyers to manipulate their RT, which they do.

Edgar Erdfelder

On Thursday 19 April Edgar Erdfelder visits from the University of Mannheim about:

Statistical Power: A key concept in the emergence and surmounting of the replication crisis

There is little doubt that psychology currently faces a replication crisis. Although some psychological disciplines appear to be more involved than others, the problem is a general one, more or less typical for all branches of the social, behavioral, and biomedical sciences that evaluate their research hypotheses statistically. I argue that the replication crisis has two main causes, namely, (1) low power of statistical tests employed in typical studies and (2) p-hacking, that is, hunting for significant outcomes using multiple tests of significance on the same data. Both mechanism combined imply that false positive error rates may easily exceed 50% of the published significant research outcomes. Reasons and traditions fostering low statistical power and p-hacking will be discussed. Based on this discussion, I propose methodological rules and quality criteria for replication studies designed to help surmounting the replication crisis in the future.

Digital nudges

Today, I’m joining the Digital Nudges event organised by DayOne to help integrate perspectives from science and industry and harness the promise of the behavioural sciences to improve healthcare. Here’s the pitch:

“Let’s stop randomly throwing technology at any healthcare related problem! Instead, let’s pause and understand Human Behaviour and how it can be influenced before we apply technology. Behavioural Economics can help us to design solutions that will successfully nudge patients towards healthier behaviours. Join us to understand the What, Why and How of Behavioural Economics in Healthcare Innovation and Digital Health”

Date and Time: April 11, 18:30 to 22:00
Place: Halle 7, Gundeldingerfeld, Dornacherstrasse 192, 4053 Basel

Stefan Zeisberger

This week, Stefan Zeisberger, Associate Professor of Fintech – Experimental Finance, University of Zurich, visits to give a presentation on investment risk.

What is investment risk?

We  investigate the determinants of risk perception and investment propensity in a financial context. In a series of experiments, participants are presented with different return distributions. Our study design allows to separate various risk measures such as variance of returns, skewness, probability of losing or the maximum possible loss. Our results hint to the probability of losing being the main driver of risk perception and investment propensity. Volatility, which is typically used by researchers, financial advisors and the regulator, does not play a major role. Our insights should allow financial advisors and regulators to support an effective and understandable communication of investment risks to prevent suboptimal investment decisions.