Cognitive Workload and Fatigue in Financial Decision Making


Book Description

This book presents new theory and empirical studies on the roles of cognitive workload and fatigue on repeated financial decisions. The mathematical models that are developed here utilize two cusp catastrophe functions for discontinuous changes in performance and integrate objective measures of workload, subjective experiences, and individual differences among the decision makers. Additional nonlinear dynamical processes are examined with regard to persistence and antipersistence in decisions, entropy, further explanations of overall performance, and the identification of risk-optimization profiles for long sequences of decisions.







Human Mental Workload: Models and Applications


Book Description

This book constitutes the refereed proceedings of the First International Symposium on Human Mental Workload: Models and Applications, H-WORKLOAD 2017, held in Dublin, Ireland, in June 2017. The 15 revised full papers presented together with two keynotes were carefully reviewed and selected from 35 submissions. The papers are organized in two topical sections on models and applications.







The Routledge International Handbook of Changes in Human Perceptions and Behaviors


Book Description

The Routledge International Handbook of Changes in Human Perceptions and Behaviors is the first edited volume to present multidisciplinary perspectives on various aspects of changes that humans experience. The handbook is designed to highlight the different contents, types, ways, meanings, applications, and moments of changes that have been recognized by experts in various fields within the life and social sciences. Comprised of four sections, the chapters address changes in a variety of contexts related to human perceptions and behaviors; the moment of change and fluctuations; changes in applied settings; and the meaning of changes, including resistance to change. Written by a range of expert international contributors, the book brings together discussions and insights about how different levels and types of changes in human perceptions, attitudes, beliefs, values, and behaviors have been studied and considered in diverse fields. It also explores the various mechanisms that account for changes, exploring how and when changes occur and what changes mean to humans. Relevant for empirical and theoretical work, the handbook will be of great interest to researchers, academics, and postgraduate students across psychology, behavioral sciences, and social sciences.




Human Factors Engineering and Ergonomics


Book Description

This textbook comprehensively covers the basic principles and most recent advances regarding visual displays, auditory and tactile displays and controls; psychophysics; cognitive processes; human-computer interaction, artificial intelligence and artificial life; stress and human performance; occupational accidents and prevention; human group dynamics and complex systems; and anthropometry, workspace and environmental design. The systems perspective emphasizes nonlinear dynamics for system performance changes and emergent behaviours of complex person-machine systems. This book- • Surveys principles of conventional and computer-based machine interaction. • Assesses the relative effectiveness of accident analysis and prevention strategies. • Highlights nonlinear dynamics for system performance changes. • Examines artificial intelligence and complex systems. • Investigates sources of cognitive workload and fatigue. The textbook will be a valuable resource for advanced undergraduates and graduate students in diverse fields including ergonomics, human factors, cognitive science, computer science, operations management, and psychology. The textbook brings together core principles of person-machine interaction, accident analysis and prevention strategies, risk analysis and resilience, artificial intelligence, group dynamics, and nonlinear dynamics for an enhanced understanding of complex person-machine systems.




Chaos and Nonlinear Psychology


Book Description

The pandemic, and our response to it, has shown how unpredictable, irrational, illogical, suddenly changing, and muddled human interactions can be in a time of crisis. How can we make sense of such confusing and baffling behavior? This book reveals how chaos and nonlinear dynamics can bring new understanding to everyday topics in social sciences. It brings together chapters from leaders at the intersection of psychology and chaos and complexity theories. Conceptual and user-friendly, it is built around six themes: 1) Seeing nonlinearity, 2) Finding patterns, 3) using Simple models, 4) Intervening nonlinearly, and 6) teaching a new Worldview. It takes no specialized study-although there is more sophisticated material and optional math for those wishing it. The techie will, in addition, find concepts and diagrams to ponder. The volume is engaging, at times startling-whether about the weather, Internet, organizations, family dynamics, health, evolution, or falling in love. It reveals how many social, personal, clinical, research, and life phenomena become understandable and can be modelled in the light of Nonlinear Dynamical Systems (NDS) theory. It even offers a broadening worldview, happening already in other sciences, toward a more dynamic, interconnected, and evolving picture, including process-oriented appreciation of one's own experience. The book offers those in the field of psychology and the social sciences a stunning new perspective on human behaviour.




Psychological Perspectives on Financial Decision Making


Book Description

This book reviews the latest research from psychology, neuroscience, and behavioral economics evaluating how people make financial choices in real-life circumstances. The volume is divided into three sections investigating financial decision making at the level of the brain, the level of an individual decision maker, and the level of the society, concluding with a discussion of the implications for further research. Among the topics discussed: Neural and hormonal bases of financial decision making Personality, cognitive abilities, emotions, and financial decisions Aging and financial decision making Coping methods for making financial choices under uncertainty Stock market crashes and market bubbles Psychological perspectives on borrowing, paying taxes, gambling, and charitable giving Psychological Perspectives on Financial Decision Making is a useful reference for researchers both in and outside of psychology, including decision-making experts, consumer psychologists, and behavioral economists.




New Paradigms in Ergonomics


Book Description

The systems in which we work continue to evolve, creating emergent problems and often strengthening intractable issues. In order to remain relevant and impactful, the discipline of ergonomics needs its paradigms to evolve too. The aim of this book is to provide researchers and practitioners with new paradigms in the form of ideas, concepts, theories, methods, practices and values. The chapters take the reader on a journey through underlying theories, new ways to apply those theories and emerging domains in which ergonomics is expected to play a greater role. Readers of this book will be inspired by these new paradigms in ergonomics and seek to push the boundaries even further. The lifeblood of the science depends on continual evolvement and developments to take on the challenges we face in complex sociotechnical systems design and evaluation. Perhaps the most significant take-home message from this book is the demonstration of how theory maps onto practice. As such, the only remaining paradigm shift is for these ideas, concepts, methods and practices to be taken up more widely and the discipline advanced, until the next paradigm shift occurs. The chapters were originally published as a special issue in the journal Ergonomics.




Behavioral Finance


Book Description

People tend to be penny wise and pound foolish and cry over spilt milk, even though we are taught to do neither. Focusing on the present at the expense of the future and basing decisions on lost value are two mistakes common to decision-making that are particularly costly in the world of finance. Behavioral Finance: What Everyone Needs to KnowR provides an overview of common shortcuts and mistakes people make in managing their finances. It covers the common cognitive biases or errors that occur when people are collecting, processing, and interpreting information. These include emotional biases and the influence of social factors, from culture to the behavior of one's peers. These effects vary during one's life, reflecting differences in due to age, experience, and gender. Among the questions to be addressed are: How did the financial crisis of 2007-2008 spur understanding human behavior? What are market anomalies and how do they relate to behavioral biases? What role does overconfidence play in financial decision- making? And how does getting older affect risk tolerance?