How do experienced lenders make decisions? This dissertation addresses this question by investigating judgment and decision-making behavior of loan officers in banks as well as credit managers in supplying companies. The dissertation applies an integrated economic-psychological perspective and consists of seven parts: a comprehensive literature review and six separate empirical papers. Reviewed areas are research on judgment and decision-making (JDM), research on expert decision-makers, and earlier empirical work on experienced lenders. The six papers shed light on: (1) desirable personal attributes of expert credit analysts; (2) the use of software to track JDM behavior; (3) differences between novices' and experienced loan officers' JDM behavior; (4) the relationships between information acquisition, risk attitude, and experience; (5) attitudes towards credit decision support systems; and (6) attitudes towards requesting collateral. Employed methods were in-depth interviews, a nation-wide survey, and a computer-based experiment.On the whole, the empirical findings give an ambiguous picture of the alleged superiority of experienced lenders' judgment and decision-making behavior. On the one hand, experienced lenders seem to be capable, careful, and conscious of their responsibility. On the other hand, they tend to disagree and make contradictory judgments and decisions. The applied perspective and methodology are not only aimed at providing better insights into how experienced lenders make decisions, but can also stimulate future research on how professionals in other domains than credit granting make decisions. / Diss. Stockholm : Handelshögsk., 2001

Political decision making can be analyzed through a plethora of theories. Here Economic Psychology is used as theoretical framework to analyze decision making, both by politicians and voters. The thesis consists of an overview of current research; an econometric study of how the voters in municipal elections react to changes in fiscal policy; and two case studies where the transfer of responsibility from one political level to another are studied, namely the transfer of Elder Care from counties to municipalities, and the transfer of the school system from the national government to the municipalities. It is shown that political actors often take psychological factors into consideration when they design or react to policy proposals. It is also shown the use of a psychological approach can improve the understanding of political decision making, particularly when the processes are complex or involve negotiations. / Diss. Stockholm : Handelshögskolan, 2009 Sammanfattning jämte 4 uppsatser

Bakgrund: År 2020 infördes ett nytt kompetenskrav i SwedSec om ekonomisk psykologi och finansiella rådgivare. Det har under de senaste åren varit stora ekonomiska oroligheter där konsekvenserna av Coronapandemin och det pågående kriget i Ukraina i kombination med andra faktorer har resulterat i rekordhöga inflationsnivåer, vilket i sin tur har resulterat i höjningar av styrräntan. Vid ekonomiskt oroliga tider är det en större risk att personer faller offer för psykologiska fallgropar eller påverkas av psykologiska faktorer. Således är det relevant att skapa förståelse om hur rådgivare påverkas och hanterar psykologiska fallgropar i rådgivningsprocessen. Syfte: Syftet med denna studie har varit att undersöka finansiella rådgivares råd och rekommendationer till kunder under de ekonomiska omständigheterna under första halvåret 2023. Författarna har analyserat hur rådgivare har anpassat sig till de nya kunskapskraven inom ekonomisk psykologi som införts i SwedSecs rådgivningslicens 2020, och utforskat i vilken utsträckning rådgivare uppger att de influeras av psykologiska bias i deras beslutsprocesser. Slutligen har studien syftat till att identifiera metoder som rådgivare använder för att undvika dessa fallgropar och förbättra kvaliteten på deras rådgivning. Metod: En kvalitativ metod har använts i form av nio semistrukturerade intervjuer med finansiella rådgivare. Studien har en abduktiv ansats och axial kodning användes för att analysera de transkriberade intervjuerna. Slutsats: Majoriteten av rådgivarna har låga eller obefintliga kunskaper kring ekonomisk psykologi och de har inte heller vidtagit några åtgärder för att försöka uppfylla SwedSecs kompetenskrav, några rådgivare kommer inte heller ihåg att kompetenskravet infördes. Trots detta är risken liten för att de skall påverkas av psykologiska bias på grund av de använder sig av ett standardiserat rådgivningsverktyg. Studiens resultat pekar således på att rådgivare inte behöver ytterligare kompetenshöjande utbildningar för att motverka psykologiska fallgropar vid rådgivning till kunder, så länge som de använder sig av det rådgivningsverktyget som finns på det finansiella institut som de arbetar på. / Background: In 2020, a new competence requirement was introduced in SwedSec on economic psychology and financial advisors. The past years have seen major economic turmoil where the consequences of the Corona pandemic and the ongoing war in Ukraine combined with other factors have resulted in record high inflation levels, which in turn has resulted in increased benchmark interest rates. In times of economic uncertainty, people are more likely to be influenced by psychological biases and psychological factors. Thus, it is relevant to understand how advisors are affected by and deal with psychological bias in the financial advisory process. Purpose: The purpose of this study has been to examine financial advisors advice and recommendations to clients during the economic circumstances of the first half of 2023. The authors have analyzed how advisors have adapted to the new knowledge requirements about economic psychology introduced in SwedSec's advisory license 2020 and explored the extent to which financial advisors state being influenced by psychological biases in their decision-making processes. Finally, the study aims to identify methods that advisors use to avoid these biases and improve the quality of their recommendations. Methodology: A qualitative method has been used in the form of nine semi-structured interviews with financial advisors. The study has an abductive approach and axial coding was used to analyze the transcribed interviews. Conclusion: Most of the advisors have little, or no knowledge regarding economic psychology and have not taken any measures to try to meet SwedSec's competence requirements, some advisors do not even remember that the competence requirement was implemented. Despite this, the risk of being influenced by psychological bias is small because they use a standardized advisory tool. The results of the study thus indicate that advisors do not need additional competence-enhancing training to counteract psychological pitfalls when advising customers, assuming they use the advisory tool available at the financial institution where they work

Made available in DSpace on 2016-04-29T13:31:28Z (GMT). No. of bitstreams: 1 Vera Rita de Mello Ferreira.pdf: 1305531 bytes, checksum: e0eda02d980a9828958a84072155a449 (MD5) Previous issue date: 2007-02-15 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The main goal of this thesis is to offer data useful for the constitution and consolidation of Economic Psychology in Brazil. The underlying hypothesis is that information about this area may stimulate interest in it and create favourable conditions to build a network of researchers, based on interdisciplinary cooperation. A historical perspective has been adopted, employing the analytical-descriptive method. Introduc tion to this area, that belongs to the interface Psychology-Economics, comprehends an overview of its situation in countries where it has already been established, historical roots and origins, and the main models formulated by relevant contemporary authors within it. Historical perspectives, definitions of the discipline and three essential concepts rationality, economic behaviour and decision- making are discussed throughout this research. The last two chapters offer two models: the first one aims to contribute to the issue of decisionmaking and is based on psychoanalytical theories and observations, focusing the polarity illusion vs. thinking, supported by the conception of emotions prevailing over reason; the second one discusses potential insertions for Economic Psychology in Brazil, emphasizing the importance of informing the population on their economic behaviour and how decisions are made, which would include both knowledge about Economics and its mechanisms, and psychological operations as well, in order to help people to take over their own decision- making processes in the economic realm. It is suggested that data gathered in this research may expand the premises over which economic policies are routinely elaborated so as to bring them closer to a more realistic level, both externally and psychologically / Esta tese tem como objetivo fornecer subsídios para a construção e instalação da Psicologia Econômica no Brasil, partindo-se da hipótese de que o conhecimento deste campo possa despertar o in teresse por ele e facilitar a constituição de uma rede de pesquisadores com colaboração interdisciplinar. Desenvolvida a partir de uma perspectiva histórica, adota o método analítico-descritivo. A apresentação da área, situada na interface Psicologia-Economia, tem início com uma visão panorâmica da situação atual nos países em que se encontra constituída. A seguir, percorre-se suas origens e principais modelos, elaborados por autores contemporâneos, a partir de obras que se destacam dentro dela. A perspectiva histórica, definições da disciplina e três conceitos básicos racionalidade, comportamento econômico e tomada de decisões estão presentes em todo o trabalho. Os dois últimos capítulos oferecem propostas: a primeira é um modelo que se pretende que contribua para a investigação das decisões econômicas, fundamentado em teorias e observações psicanalíticas, com foco sobre a polaridade ilusão e pensar, que repousa na concepção do mundo emocional que sobrepõe-se à razão; a segunda proposta discute possíveis modos de inserção da Psicologia Econômica no Brasil, com ênfase sobre a importância de proporcionar-se condições para informar a população acerca de seu comportamento econômico e maneiras como decisões são tomadas neste âmbito, que contemplaria tanto dados sobre a Economia, como conhecimentos sobre nosso funcionamento psíquico, com o objetivo de favorecer a apropriação, por parte de todos os segmentos, das escolhas que fazem. Ainda dentro esta perspectiva, sugere-se que a reunião destes dados possa expandir as premissas que sustentam inúmeras políticas econômicas, de modo a torná-las mais condizentes com nossa realidade externa e psíquica

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2016-06-28T14:00:51Z No. of bitstreams: 1 Frederike Monika Budiner Mette_.pdf: 1183497 bytes, checksum: b6f7318149f58c4698b6c94c25e81eb7 (MD5) / Made available in DSpace on 2016-06-28T14:00:51Z (GMT). No. of bitstreams: 1 Frederike Monika Budiner Mette_.pdf: 1183497 bytes, checksum: b6f7318149f58c4698b6c94c25e81eb7 (MD5) Previous issue date: 2016-03-29 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / A presente tese realizou uma pesquisa sobre o processo de tomada de decisão individual que ocorre no contexto de compra a crédito, a partir de teorias e estudos da psicologia econômica e do comportamento do consumidor. Pretendeu-se analisar o efeito do tipo de produto e das condições de pagamento na intenção de compra a prazo dos indivíduos, assim como a influência das diferenças individuais nesta relação. Assim, utilizou-se uma metodologia experimental com a qual foram realizados três experimentos, a fim de testar as hipóteses construídas a partir de um modelo teórico. No Experimento 1, com 8 grupos experimentais e uma amostra de 279 pessoas, identificou-se que há um efeito negativo na propensão de compra a prazo quando há um desconto para pagamento à vista, independentemente da cobrança de juros a prazo. Se não há o desconto à vista, a propensão de compra a prazo aumenta. Além disso, concluiu-se que os indivíduos que apresentam altos índices de materialismo e impulsividade tendem a comprar mais a prazo. Para o Experimento 2, com 8 grupos experimentais e 314 respondentes, a coleta de dados foi similar à primeira, alterando somente algumas manipulações. Como implicação, encontrou-se resultados para os quais, se há desconto nas condições, menor tende a ser a propensão de compra a prazo. Além disso, provou-se que o tipo de produto possui um efeito na compra parcelada. Já no Experimento 3, buscou verificar somente os efeitos relacionados às manipulações dos tipos de produtos, com 4 grupos experimentais, e uma amostra de 171 pessoas. Averiguou-se um efeito cruzado para a interação produto e tipo de produto, ou seja, quando o tipo de produto for hedônico, há maiores variações na média de intenção de compra a prazo pelo produto do que se ele for utilitário. Concluiu-se, também, que o produto utilitário apresentou uma maior intenção de compra a prazo. / This thesis aimed to conduct a research on the individual decision-making that occurs in the credit purchase context, from theories and studies of economic psychology and consumer behavior. It was intended to analyze the effect of the product type and payment conditions in the credit purchase intention, as well as the influence of individual differences in this relationship. It was used an experimental methodology with three experiments in order to test the hypotheses from a theoretical model. In Experiment 1, with 8 experimental groups and a sample of 279 people, it was identified that there is a effect on the credit purchase propensity when there is a discount for cash payment, regardless of the interest rates. If there is no discount, the lower tends to be the credit purchase propensity i as there are no interest charges in the payments. Furthermore, it was concluded that individuals with high levels of materialism and impulsivity tend to buy more than those who have a high financial literacy. For Experiment 2, with 8 experimental groups and 314 respondents, the data collection was similar to the first, changing just the manipulations. As implication, it was found results that if there was no discount the lower tends to be the term purchase propensity, in the same way that the first one. By the way, it was proven the that the produt type influenced in the credit payment. In the Experiment 3, it was sought to verify only the effects related to the type of products, with 4 experimental groups for both products, and a sample of 171 people. It was found a crossed product interaction effect when the type of product is hedonic, so there were greater variations in the average of credit purchase intentionwhen the product was utilitarian. It was also proven that the utilitarian product has a higher forward purchase intention, so the bigger the effect that was noticed by the product variation.

The role of trust in social, economic, political, and organizational relations is a research topic that has received much attention during the last decade. Trust has been considered a key variable in various contexts, although it should be noted that many theorists pay little attention to empirically testing their arguments about the importance of trust. It is in the present thesis examined whether trust is an important variable in the context of risk policy.This question was addressed from different perspectives in three empirical studies, which were based on extensive survey data. The first article concerned the case of energy policy and the relationship between people’s perceptions of nuclear risks and their attitudes towards various aspects of energy policy was examined. In the second article it was studied whether trust was an important predictor of perceived risk within and across four European countries. Finally, in the third article, determinants of public trust in organizations were studied. An important finding in the thesis was that determinants of trust varied depending on the organization studied. It was also found that trust was a significant predictor of perceived risk, but the relationship was not very strong. It was suggested that the overall policy implications for risk management should be that there are limits to the possibilities to increase the level of trustworthiness and build public trust. An organization could make strong efforts to build an image of being a competent, open, fair, and credible organization, but still not gain the necessary degree of trust, because public perceptions can be based on certain organizational characteristics that are very fundamental and not easily changed. Furthermore, even if an organization succeeds in building a high degree of public trust, it was found in the thesis that it is possible to trust those responsible for risk management to be very competent and honest, yet perceive risks as high. A number of possible causes for this interesting finding are presented in the thesis. / <p>Diss. Stockholm : Handelshögskolan, 2003</p>

Per comprendere in che modo promuovere il contributo economico-finanziario al bene comune tramite tasse e donazioni monetarie, è stato adottato l’approccio della psicologia economica e un disegno di ricerca misto, utilizzando strumenti di ricerca qualitativa e quantitativa. Un primo studio di carattere qualitativo ha evidenziato come tasse e donazioni siano riconosciute come due forme alternative e complementari per contribuire al bene comune solo da punto di vista cognitivo, non affettivo. Successivamente, uno studio sperimentale basato sull’utilizzo dell’effetto framing ha mostrato che un ‘gain frame’ (ritorno di tipo materiale) è efficace nell’aumentare la propensione alla correttezza fiscale, mentre un ‘hedonic frame’ (ritorno di tipo emozionale) è efficace nell’aumentare la propensione a effettuare donazioni monetarie. Questi frame risultano particolarmente rivelanti quando prevale una motivazione di carattere estrinseco. Inoltre, la distanza a livello affettivo tra tasse e donazioni sembra emergere soprattutto con l’acquisizione di reale esperienza fiscale, come suggerito dalla differenza riscontrata tra studenti e lavoratori. Infine si suggerisce che, nonostante le differenze individuate, versare correttamente le tasse ed effettuare donazioni monetarie presentano alcuni elementi di somiglianza in quanto condividono antecedenti comuni, ovvero la motivazione a contribuire legata all’accessibilità (rendere il bene comune accessibile a chiunque) e la motivazione legata al guadagno personale (ottenere un ritorno personale in cambio del proprio contributo). In conclusione, i risultati offrono spunti teorici e pratici (per esempio, ‘nudge’) per lo sviluppo di interventi atti a favorire il contributo economico-finanziario al bene comune. / To understand how to promote the financial provision for the common good through paying taxes and making charitable donations, an economic-psychological perspective and a mixed-method approach – combining both qualitative and quantitative research tools – are adopted. First, a qualitative study shows that the acknowledgment of taxes and donations as two alternative and complementary ways to provide for the common good seems to stand merely on a formal and cognitive level, whilst at an affective level they appear to be very distant. Next, an experimental study using framing effect shows that a gain frame (i.e., material return) is effective in increasing intended tax compliance, whereas a hedonic frame (i.e. emotional return) is effective in increasing donation intention. Such frames are especially relevant when extrinsic motivation prevails. Moreover, the distance at affective level between taxes and donations seems to mostly arise with the acquisition of real tax experience, as suggested by the difference that is found between students and taxpayers. A final study suggests that, despite the above-mentioned differences, paying taxes and making donations are similar in that they share some common antecedents, which are the motives to provide for the common good. Such motives are ‘Accessibility’ (i.e., making the common good accessible to anyone and fulfilling people’s basic needs) and ‘Personal Gain’ (i.e., getting a return and personal advantage in exchange for one’s contribution). In conclusion, insights are offered to scholars, practitioners, and policy-makers to support the development of policies, interventions, and nudges aimed at promoting the financial provision for the common good.