Artykuły w czasopismach na temat „Behavioural exchange”
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Mortezaee, Mojtaba, Davoud Sanji i Majid Govahi. "BEHAVIORAL FINANCE- EVIDENCE FROM TEHRAN STOCK EXCHANGE". International Journal of Research -GRANTHAALAYAH 4, nr 12 (31.12.2016): 79–84. http://dx.doi.org/10.29121/granthaalayah.v4.i12.2016.2395.
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A capital market is a vast and controversial issue in financial matters and especially behavioural finance. Indeed, behavioural finance is aim to survived the influence of the psychological variables on financial markets transformation. It should be noted that financial investors may have different level of rational behaviour, which leads to different kinds of effects, which can elaborate market inconsistency. Classical finance assumes the investors as rational peoples who try to select the most lucrative and efficient portfolio considering expected financial risk. Behavioural finance model mainly focus on psychological parameters. Tehran Stock Exchange (TSE) is affected by many financial and economic variables. Investor in this financial market is affected by different data. Present study is aim to examine psychological variables beside political, economic and capital market features factors. Research data collects in 2015 and analysis by LISREL software. The results reveal that political, economic and psychological parameters respectively are the most important variables which affect the investor decision making behaviour. The internal financial reports and market return are less effective factor in their financial decision behavior.
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Morris, Edward K. "The Molloy-Birnbrauer Exchange: How Many Factors do a Psychology Make?" Behaviour Change 3, nr 1 (marzec 1986): 1–8. http://dx.doi.org/10.1017/s0813483900009049.
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Molloy and Birnbrauer have recently exchanged views in this journal over how how many factors are necessary to provide an adequate account of human behaviour and behaviour change. Their differences apparently reflect alternative conceptualizations of the roles played by physiology and cognition in the analysis of behaviour. The present paper provides some background to these issues, showing that the current cognitive behavioural approach to physiology and cognition is but a reworking of some aspects of traditional mentalism. Following this, several alternatives to this traditional conceptualization are offered by way of (a) an analysis of how functional and structural contextual conditions affect behaviour and (b) distinctions between issues of behavioural process and content-related behavioural substance. For psychology to be a cumulative and progressive enterprise, a natural science approach to issues of physiology and cognition must be maintained, no matter how many factors may be tajcen as germane to human behaviour and behaviour change
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Chen, Wen-Jung. "Two social exchanges and service personnel’s internal service behavioural intention at international tourism hotels". European Journal of Tourism, Hospitality and Recreation 7, nr 3 (1.12.2016): 146–55. http://dx.doi.org/10.1515/ejthr-2016-0017.
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AbstractHospitality is a service industry in which team cooperation and assistance among the co-workers is necessary. Scholars have found that salary or benefits by themselves are not sufficient to motivate employees’ internal service intention and attitude. The norm of reciprocity in which the individuals’ intention results in active behaviour that is driven by the desire to obtain rewards has rarely been applied in the field of hotel internal service. In this study, we used the theory of planned behaviour (TPB) to investigate the effects of leader-member exchange (LMX) and co-worker exchange on internal service behavioural intention and its causes, that is, attitude, subjective norms, and perceived behavioural control. In this study, we chose frontline professional service personnel from 30 international tourist hotels in Taiwan as research subjects and collected 684 valid questionnaires for statistical analysis. The results showed that LMX and co-worker exchange significantly affected the internal service behavioural intention and were significantly correlated with the causes of internal service behaviour intention, that is, attitude, subjective norms, and perceived behavioural control. The results of this study should provide practical and theoretical assistance guidance for the rapidly growing domestic hospitality industry, in terms of increasing service competitiveness and facilitating the strategic planning of human resource management.
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Abul, Sadeq J. "Factors influencing Individual Investor Behaviour: Evidence from the Kuwait Stock Exchange". Asian Social Science 15, nr 3 (28.02.2019): 27. http://dx.doi.org/10.5539/ass.v15n3p27.
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This study investigates the effects of psychological factors on investor behaviour regarding the Kuwait Stock Exchange (KSE). These psychological factors are, namely: excessive optimism vs pessimism, herd behaviour and risk appetite. The data for this study obtained from KSE and a survey of a random sample of 398 individual investors. By using qualitative analysis and based on the theory of behavioural finance, the study findings show that herd behaviour, optimism and psychology risk have an impact on the individual investors’ decisions. However, we did not find any evidence of overconfidence behaviour’s effects on investors’ decisions. To our knowledge, KSE has been examined by several researchers without taking into consideration the effects of psychological factors on individual investor decisions. This study finds that psychological factors play a significant role in individual investors’ decisions regarding KSE. This study might contribute positively to the development of this field of research in (KSE).
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Rasool, Nosheen, i Safi Ullah. "Financial literacy and behavioural biases of individual investors: empirical evidence of Pakistan stock exchange". Journal of Economics, Finance and Administrative Science 25, nr 50 (2.05.2020): 261–78. http://dx.doi.org/10.1108/jefas-03-2019-0031.
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Purpose Financial literacy is a crucial element of financial decision-making, exerting significant influence on the behaviour of individual investors, while making budgetary, house financing, stock investing and retirement planning decisions. So, the purpose of this research is to determine the relationship between financial literacy and behavioural biases of individual investors in Pakistan. Design/methodology/approach In this research paper, a sample of 300 observations was obtained through questionnaires from individual investors residing in Lahore and invested in Pakistan Stock Exchange. The data obtained, was passed through Cronbach’s Alpha and Exploratory Factor Analysis (EFA). The hypothesis developed for the research was tested by Pearson’s Chi-square and Ordinal Regression Analysis. Findings The hypothesis testing of the research concluded that there is a negative association between financial literacy and behavioural biases of individual investors. So, it means; with an increase in level of financial literacy, the likelihood of investor facing behavioural biases reduces. It also appeared that male respondents have more financial literacy than female respondents Originality/value Previous studies in the field of finance, identified different factors causing the financial behaviour of individual investor of Pakistan, and also focused on level of financial literacy in Pakistan, but these studies have not emphasized the crucial relationship between financial literacy and behavioural biases of individual investors. Thus, the unique empirical analysis developed in this paper has accentuated the financial literacy as a factor that mitigates behavioural biases of individual investor.
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Okafor, Samuel O., Edwin M. C. Izueke, Ifeoma Nzekwe, Obara Okezi i Abdulrouf Isah. "Urban Settlement and Behavioural Exchange towards Environmental Policy among Urban Settlers in Southeast Nigeria: Implications for Environmental Policy Administration and Sustainability". Public Policy and Administration 21, nr 1 (29.03.2022): 55–81. http://dx.doi.org/10.5755/j01.ppaa.21.1.29139.
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Environmental pollution as well as sustainability of the natural environment is the product of behavioural exchange obtainable in a particular geographical setting and time space. Each environmental setting has its own expected behavioural disposition making it, more or less the symbolic identity of the people living in the setting. In southeast Nigeria among the six geopolitical zones of the country, environmental pollution has appeared as identity for many cities over the years. While some scholars have scratched the matter from other dimensions, there is yet to be research design, targeting the essence of symbolic behavioural exchange in the understanding of the issue of urbanites and environmental pollution. From the theoretical framework of symbolic interactionism, a coherent analysis was advanced in this study, to capture the behavioural exchanges towards the natural environment between the urbanites and the government institutions implementing environmental protection policies. This was substantiated through the primary data obtained via survey research design, involving 640 respondents (18+) from the southeast Nigerian cities. The study adopted descriptive statistics as well as linear model in probing the data collected. According to the findings of the study, weak policy framework and implementation elicited covert anti-environmental protection behaviour. Commitment to environmental protection, policy awareness and support to government policy and institution are dependent on the public trust of the government institutions managing the environment, awareness of environmental issues, government policies and the functionality of the government institutions managing environmental issues.
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Behrens, Brett C., W. Kim Halford i Matthew R. Sanders. "Behavioural Marital Therapy: An Overview". Behaviour Change 6, nr 3-4 (wrzesień 1989): 112–23. http://dx.doi.org/10.1017/s081348390000749x.
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Behavioural marital therapy (BMT) has developed from the application of social exchange and social learning theories to the understanding and modification of marital interaction. Encouraging high rates of exchange of positive behaviours, and training in communication skills, have been the major focuses of BMT till recently. While these strategies produce therapeutic change, there are still many couples whose marriages do not improve with this sort of therapy. Recent developments have focused on the role of cognitive, affective and situational variables in marital interaction. Outcome research has shown the value of cognitive and affective interventions in their own right, but it is unclear if the addition of these interventions will enhance the efficacy of BMT.
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Christodoulakis, George, i Emmanuel Mamatzakis. "Behavioural asymmetries in the G7 foreign exchange market". International Review of Financial Analysis 29 (wrzesień 2013): 261–70. http://dx.doi.org/10.1016/j.irfa.2013.02.012.
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de Waal, Frans B. M. "How animals do business". Philosophical Transactions of the Royal Society B: Biological Sciences 376, nr 1819 (11.01.2021): 20190663. http://dx.doi.org/10.1098/rstb.2019.0663.
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The field of comparative behavioural economics investigates decisions about the acquisition and exchange of goods and services. It does so in both humans and other species on the assumption that the cognition and emotions involved have a shared evolutionary background. This preface roughly defines the field and reviews a few selected early studies and concepts to offer a taste of what economic behaviour means in relation to species other than our own. This article is part of the theme issue ‘Existence and prevalence of economic behaviours among non-human primates’.
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Gelei, Andrea, i Imre Dobos. "Evolving trust in business relationships – A behavioural experiment". Acta Oeconomica 72, nr 2 (23.06.2022): 231–47. http://dx.doi.org/10.1556/032.2022.00013.
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Abstract Using situation-specific and dyadic data, we analyse how trust in inter-organisational relationships evolve over time. Based on a multidisciplinary approach, we define four trust-related concepts, which include both behavioural and perceptual aspects of this multifaceted phenomenon. We also develop the hypothesis that the behavioural consistency of the trustee affects the level of his/her trustworthiness as perceived by the trustor. To test this hypothesis, the paper specifies a finite Dynamic Trust Game that, in a unique way, models longer-term relationships characterised by interdependent actions between partners. In contrast to the simple Repeated Games modelling discrete exchange episodes, this game corresponds to the requirements of the interaction approach of the relationship management, since the iterations of the game are interrelated and embedded in previous ones. Timely development of the behavioural variables in the game reflects an inverse U-shape with an increasing willingness to cooperate until round 8, with a maximum cooperation level of 80% on average. Behaviour seems to affect the perceived level of trustworthiness. However, we need additional experimental data on inconsistent behaviours to get a clear understanding of this effect.
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Giannellis, Nikolaos, i Minoas Koukouritakis. "Behavioural equilibrium exchange rate and total misalignment: evidence from the euro exchange rate". Empirica 38, nr 4 (3.11.2010): 555–78. http://dx.doi.org/10.1007/s10663-010-9146-z.
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Sarpong, Prince K. "Against the Herd: Contrarian Investment Strategies on the Johannesburg Stock Exchange". Journal of Economics and Behavioral Studies 6, nr 2 (28.02.2014): 120–29. http://dx.doi.org/10.22610/jebs.v6i2.475.
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This study seeks to investigate herd behaviour among equity mutual fund managers and the performance of mutual funds that trade against the herd in South Africa. The behaviour of mutual funds has an effect on the stability and volatility of stock markets, the ultimate returns to the investors. The study builds upon the efficient market hypothesis, portfolio theory and behavioural finance to provide evidence of the behaviour of mutual funds in an emerging market context using the Johannesburg Stock Exchange. The Lakonishok, Shleifer and Vishney (1991) measure of herding is used to ascertain the behaviour of mutual funds over the period 2006 to 2012. Institutional investors in South Africa are susceptible to the behavioural bias of herding and this phenomenon influences the performance of their funds. Funds that trade in the opposite direction of herd funds are able to put up a superior performance over time. Superior performance, however, does not entice mutual fund investors to invest less in under-performing funds and more in funds that recently show superior performance. These findings imply that following investment waves does not culminate in superior returns in the stock market. Consequently, mutual funds that take an opposite direction to herd funds help stabilize the stock market and lessen the severity of bear markets. This study categorizes mutual funds into ‘herding’ and ‘contrarian’ and provides an insight into the performance of each category. Investors who oppose herd behaviour realize greater returns over time while stabilizing the markets at the same time.
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ZHANG, ZHICHAO. "REAL EXCHANGE RATE BEHAVIOUR UNDER HONG KONG'S LINKED EXCHANGE RATE SYSTEM: AN EMPIRICAL INVESTIGATION". International Journal of Theoretical and Applied Finance 05, nr 01 (luty 2002): 55–78. http://dx.doi.org/10.1142/s0219024902001341.
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In a behavioural equilibrium exchange rate model, this study investigates the movements of the real exchange rate of the Hong Kong dollar under the currency board arrangement from 1984 to 1998. Cointegration analysis based on Johansen approach is applied to derive the equilibrium real exchange rate in behavioural sense for the Hong Kong dollar. Evidence shows that during the period under investigation, the Hong Kong dollar was initially undervalued when the currency board arrangement was installed. It moved in closer line with the equilibrium rate after 1985 and generally remained moderately undervalued until 1993. Then the currency became overvalued following the upsurge of domestic demand and lingered into 1995 before an adjustment took place latter that year. But except for a few quarters, the overvaluation was not substantial and chronic. On the whole, the Hong Kong dollar seemed to have performed well in the period under examination. In most cases, the currency was actually undervalued. When the Asian financial crisis broke out, the currency was in effect already in a process of adjustment, depreciating form an overvalued level.
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Boutilier, Robert G. "Control of arrhythmic breathing in bimodal breathers: Amphibia". Canadian Journal of Zoology 66, nr 1 (1.01.1988): 6–19. http://dx.doi.org/10.1139/z88-002.
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Amphibians employ a system of gas exchange whereby various combinations of the lungs, gills, and skin are used to exploit gas exchanges in both air and water (bimodal breathing). Continuous lung ventilation is rarely observed in these animals. Instead, the dominant breath pattern is arrhythmic in nature and is believed to have evolved in response to a periodic need to supplement aquatic gas exchange. Such a need is largely dependent on the activity state of the animal concerned and its capacity for aquatic gas exchange. The overall control system appears to be one that turns lung ventilation on and off by trigger signals arising from chemo- and mechano-sensitive receptors responding to changing conditions during periods of breath holding and breathing. In amphibians in which the aquatic exchanger is a major avenue for CO2 elimination, [Formula: see text] levels in the lungs and blood do not change substantially in the latter stages of a breath hold. Under these conditions falling levels of oxygen may be the primary stimulus to terminate the breath hold and initiate breathing. There is, however, some interaction between the two gases since elevated CO2 levels affect the sensitivity of the predominantly O2-mediated response. Another major component in determining air-breathing patterns in these animals is their ability to delay the onset of breathing when certain behavioural activities take precedence over the need for additional gas exchange.
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Drabik, Ewa, i Anna Górska. "Ocena inwestycji na Warszawskiej Giełdzie Towarowej w okresie od stycznia 2002 roku do lipca 2004 roku". Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, nr 54 (25.11.2004): 89–99. http://dx.doi.org/10.22630/eiogz.2004.54.29.
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Nowadays the commodity exchange offers not only a wide range of operations such as trade in commodities but also future contracts and other types of financial transactions. While at the stock exchange one can encounter mainly shares, the commodity exchange epitomizes an impressive variety of negotiable units. Mutual funds and deposits, which are an alternative way of investing, also play a relevant role on the financial market. From economical point of view deposits are burdened with the smallest risk. According to the modem financial theory, the attitude towards a risk is considered as a very important aspect of the situation on the market. Not only behaviour of the investors but also political and economical events determine the situation on the market. The. behaviour of the investors is analysed by the cognitive psychology, which is associated with a new behavioural current in financial theory, which is called the behaviour finance. The aim of this paper is to check, if it is worth to invest at the commodity exchange. The analysis is carried out on the basis of the data from Warsaw Commodity Exchange in the span of3 years: 2002-2004.
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Mehboob, Farhan, i Noraini Othman. "Role of Perceived Management Support and Personal Valence in Promoting Behavioral Support for Change: A Social Exchange Theory Perspective". Jurnal Aplikasi Manajemen, Ekonomi dan Bisnis 5, nr 1 (31.10.2020): 65–74. http://dx.doi.org/10.51263/jameb.v5i1.114.
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Individuals’ support for change is a critical success factor to effectively implement change. Therefore, identifying the possible antecedent and mechanism leading to one’s behavioural support towards change is necessary. The study aims to unfold this avenue of research empirically by examining the role of both person and context factor in promoting behavioral support for change. Data was collected from 292 academic staff of six public sector universities in Pakistan via cross-sectional mean. A self-reported questionnaire was used to collect responses from the desired sample. SPSS 25 and AMOS were used to analyse the data for its relevance to study’s objectives. Results revealed a positive impact of perceived management support on academic staff’s behavioural support for change. Moreover, personal-valence provides an effective intervening mechanism to translate the effect of perceived management support on both dimensions of behavioural support for change such as compliance and championing behaviour. The study contributes to the existing literature on organizational change particularly to the university settings by examining and empirically validating both person and context factor as significant predictors to academic staff’s behavioral support for change.
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Komárek, Luboš, i Martin Motl. "Behavioural and Fundamental Equilibrium Exchange Rate of the Czech Koruna". Politická ekonomie 60, nr 2 (1.04.2012): 147–66. http://dx.doi.org/10.18267/j.polek.835.
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Bles, Olivier, Jean-Louis Deneubourg, Cédric Sueur i Stamatios C. Nicolis. "A Data-Driven Simulation of the Trophallactic Network and Intranidal Food Flow Dissemination in Ants". Animals 12, nr 21 (28.10.2022): 2963. http://dx.doi.org/10.3390/ani12212963.
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Food sharing can occur in both social and non-social species, but it is crucial in eusocial species, in which only some group members collect food. This food collection and the intranidal (i.e., inside the nest) food distribution through trophallactic (i.e., mouth-to-mouth) exchanges are fundamental in eusocial insects. However, the behavioural rules underlying the regulation and the dynamics of food intake and the resulting networks of exchange are poorly understood. In this study, we provide new insights into the behavioural rules underlying the structure of trophallactic networks and food dissemination dynamics within the colony. We build a simple data-driven model that implements interindividual variability and the division of labour to investigate the processes of food accumulation/dissemination inside the nest, both at the individual and collective levels. We also test the alternative hypotheses (no variability and no division of labour). The division of labour, combined with inter-individual variability, leads to predictions of the food dynamics and exchange networks that run, contrary to the other models. Our results suggest a link between the interindividual heterogeneity of the trophallactic behaviours, the food flow dynamics and the network of trophallactic events. Our results show that a slight level of heterogeneity in the number of trophallactic events is enough to generate the properties of the experimental networks and seems to be crucial for the creation of efficient trophallactic networks. Despite the relative simplicity of the model rules, efficient trophallactic networks may emerge as the networks observed in ants, leading to a better understanding of the evolution of self-organisation in such societies.
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Su, Yikun, Weiyi Cong, Weiyi Cong i Huakang g. Lian. "THE IMPACT OF SUPERVISOR–WORKER RELATIONSHIP ON WORKERS’ SAFETY VIOLATIONS: A MODIFIED THEORY OF PLANNED BEHAVIOUR". JOURNAL OF CIVIL ENGINEERING AND MANAGEMENT 25, nr 7 (9.07.2019): 631–45. http://dx.doi.org/10.3846/jcem.2019.10439.
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This study develops and tests an integrative model to better understand the mechanisms by which the leadermember exchange (LMX) determines workers’ safety behaviours. The modified theory of planned behaviour (TPB) was proposed by using attitudinal ambivalence to replace univalent safety attitude. Empirical data were collected from 229 construction workers in China using a detailed questionnaire. Both situational and routine safety violations were considered in this model. The results showed that LMX had significant effects on both types of safety violations through three mediators from the modified TPB framework. Specifically, attitudinal ambivalence and group safety norm mediated the relationships between LMX and both types workers’ safety violations. However, perceived behavioural control only mediated the relationship between LMX and individuals’ routine safety violations. Furthermore, this research supported the distinctions between situational and routine safety violations. The indirect effects of LMX on individuals’ situational safety violations took place mainly through group safety norm. By contrast, the indirect effects on individuals’ routine safety violations took place mainly through attitudinal ambivalence and perceived behavioural control. Finally, the theoretical and practical implications, research limitations, and future directions were discussed. The results provide some meaningful insights into how to improve safety compliance behaviours from the perspective of supervisor-worker relationships.
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Acharjya, Biswajit, i Subhashree Natarajan. "A Fuzzy Rough Feature Selection Framework for Investors Behavior Towards Gold Exchange-Traded Fund". International Journal of Business Analytics 6, nr 2 (kwiecień 2019): 46–73. http://dx.doi.org/10.4018/ijban.2019040103.
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Behavioural finance has gained research interest among researchers because of investor behavior and market anomalies. Investor behaviour varies with demographics and geographic characteristics. Further, investor behavior towards a gold exchange trade fund is gaining research interest due to various factors. Not much research has been carried out in this direction, with the exception of some comparisons. Therefore, the performance of a gold exchange traded fund needs to be assessed from the investor behavior perspective. Additionally, the investors behavior contains uncertainties. Thus, there is a need for intelligent techniques for identifying the investors behavior despite the presence of uncertain behavioral characteristics. Therefore, to study uncertain behavior characteristic in gold exchange traded fund, in this article the authors employ a fuzzy rough set. They employ fuzzy rough quick reduct algorithm to find the superfluous attributes. Further decision rules are generated to identify the chief feature of investors' behavior towards gold exchange traded fund.
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B, Anitha KUMARI, i Diwakar NAIDU B. "A STUDY ON THE IMPACT OF COVID – 19 ON INVESTOR BEHAVIOUR TOWARDS GOLD ETF INVESTMENTS IN INDIA". ECS Transactions 107, nr 1 (24.04.2022): 19803–11. http://dx.doi.org/10.1149/10701.19803ecst.
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The hyperbolic discounting dimensions of investment decisions in gold exchange traded funds do not appear in the existing literature and no study has been conducted with a focus on gold exchange traded funds to understand the impact of time inconsistency on the investment decision in a gold exchange traded investment. This study is exploring the impact of behavioral factors on investment decisions in gold ETFs during the pandemic situation. Hence, this study has relevance in terms of analyzing and determining the hyperbolic investor behavior for investment in gold ETFs. Research helps to understand the impact of hyperbolic discounts on gold ETF investment decisions understand the impact of behavioural elements on gold ETF investment decisions. Research can provide insight into reasonable and illogical patterns of Investor behaviour influencing investment decisions.
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Wiśniewska, Marta. "THE IMPACT OF THE CORONAVIRUS (COVID-19) PANDEMIC ON INVESTORS’ BEHAVIOUR IN THE LIGHT OF BEHAVIOURAL FINANCE". Zeszyty Naukowe SGGW, Polityki Europejskie, Finanse i Marketing, nr 27(76) (30.06.2022): 111–22. http://dx.doi.org/10.22630/pefim.2022.27.76.10.
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The aim of the research was to find out the opinions of stockbrokers working at the Warsaw Stock Exchange regarding the behaviour of Polish investors in the face of the coronavirus (COVID-19) pandemic. The research was carried out among 51 stockbrokers representing brokerage houses with a long history of operations. It has been found that psychological conditions of people and stock market sentiments play an important role in the decision-making process, and irrational investor behaviours, including largely herd effects, are particularly evident during the pandemic. The research shows that the occurrence of the coronavirus has not reduced the activity of Polish investors. Thus, significantly growing interest in shares of companies listed on the Warsaw Stock Exchange has been noted. The behaviour and attitude of market participants towards risk were volatile during the developing pandemic, which manifested itself in rapid buying of overvalued assets or rapid selling of assets.
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Macfarlan, Shane J., i Henry F. Lyle. "Multiple reputation domains and cooperative behaviour in two Latin American communities". Philosophical Transactions of the Royal Society B: Biological Sciences 370, nr 1683 (5.12.2015): 20150009. http://dx.doi.org/10.1098/rstb.2015.0009.
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Reputations are a ubiquitous feature of human social life, and a large literature has been dedicated to explaining the relationship between prosocial reputations and cooperation in social dilemmas. However, humans form reputations in domains other than prosociality, such as economic competency that could affect cooperation. To date, no research has evaluated the relative effects of multiple reputation domains on cooperation. To bridge this gap, we analyse how prosocial and competency reputations affect cooperation in two Latin American communities (Bwa Mawego, Dominica, and Pucucanchita, Peru) across a number of social contexts (Dominica: labour contracting, labour exchange and conjugal partnership formation; Peru: agricultural and health advice network size). First, we examine the behavioural correlates of prosocial and competency reputations. Following, we analyse whether prosocial, competency, or both reputation domains explain the flow of cooperative benefits within the two communities. Our analyses suggest that (i) although some behaviours affect both reputation domains simultaneously, each reputation domain has a unique behavioural signature; and (ii) competency reputations affect cooperation across a greater number of social contexts compared to prosocial reputations. Results are contextualized with reference to the social markets in which behaviour is embedded and a call for greater theory development is stressed.
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Dr Bikrant Kesari, Nidhi Jain,. "Sharing the Economic Torment due to COVID – 19 and Pertinent Behavioural Biases on Financial Risk Resilience Ability of Security Market Investors". Psychology and Education Journal 58, nr 2 (13.02.2021): 1073–91. http://dx.doi.org/10.17762/pae.v58i2.2191.
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Behavioural inclinations depict a replicable example in perceptual mutilation, mistaken judgment, unreasonable understanding, or what is extensively called mindlessness. This paper embraces an essential information way to deal with explore the impacts of behavioural predispositions due to Covid-19 on security market performance in India. The destinations are in twofold: one, to analyze the degree of behavioural predispositions among security market investors in India and, to look at the impacts of social inclinations on securities market in India. The paper utilized questionnaire as instrument and the strategy of correlation with Pearson Coefficient to examine a review of 150 haphazardly chose investors in India's security market. There is a solid proof that behavioural inclinations exists overwhelmingly due to COVID - 19 in the security market in light of the fact that a feeble negative relationship exists between social predispositions and securities exchange market in India. The biases due to behaviour include Confirmation bias, Reducing Regret bias, Myopic loss-aversion bias, Limited attention span bias, Chasing Trends bias and Status quo bias. The paper suggests that individual financial specialists in the market ought to connect with the administrations of investment advisors which will diminish individual inclinations in the administration of their portfolios.
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Abhyankar, Aditi. "Behavioural Economics Towards Better Decision Making". Journal of Global Economy 16, nr 2 (14.06.2022): 1–10. http://dx.doi.org/10.1956/jge.v16i2.648.
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Often, Individuals try to choose the best feasible option but sometimes, they don’t succeed in doing so. They make mistakes. Also, the market exchange makes psychological factors cease to matter but many psychological factors matter even for the markets.
In contrast to the traditional assumption of neoclassical economics that individuals are rational Homooeconomici, that always seek to maximize their utility and follow their “true” preferences, research in behavioural economics has demonstrated that people’s judgments and decisions are often subject to systematic biases and heuristics, and are strongly dependent on the context of the decision.
The insights from behavioural economics (BE) are now a well-established feature in consumer research and policy. Today, in fields from health behaviour to pension saving, from investment decisions to food choice, from sustainable consumption to the design of warning signs, the empirical and theoretical insights of BE have become a cornerstone of understanding consumer behaviour, helping inform policymakers on how to nudge people to make better, smarter, healthier and more sustainable choices (World Bank, 2014). BE is concerned with the question of how people actually behave in decision-making situations and how their choices can be improved so that consumers’ welfare is enhanced. For the market, it is always crucial to enhance sales every next quarter, using appropriate strategies.
This paper makes a humble effort to briefly review the transition of the neoclassical (optimising) decision-making towards newer and better insights into behavioural economics and discuss how the latter has influenced and enhanced consumer behaviour and consumer policy on one hand and marketing strategy on the other.
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Thevaruban, Janaki Samuel. "The Impact of Behavioural Factors on Individual Investors’ Investment Decision Making in Colombo Stock Exchange: Special Reference to Northern Province – Sri Lanka". International Journal of Research and Innovation in Social Science 06, nr 12 (2022): 42–53. http://dx.doi.org/10.47772/ijriss.2022.61206.
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Behavioural finance is important component of investment decision making of the people. It is based on the psychology; attempt to understand how emotions and cognitive errors influence individual investors’ behaviours. This study sought to determine the impact levels of behavioural influences on the individual investor choices of securities at Colombo Stock Exchange (CSE). It was guided by one main objective seeking to determine the impact level of behavioural factors influences on the individual investors’ investment decisions at CSE. To meet the objectives of the study, a descriptive survey design was chosen. Primary data was collected using self-administrated questionnaires. It was based on 200 individuals selected through CSE Northern Province. The data analysis for this study was performed with the help of SPSS. This study used multiple regression and correlation analysis. To examine such impact of behavioural factors considered as the independent variable with the proxies of regret aversion, overconfidence, availability bias, past trends of stock, market information, buying and selling of other investors and individual investors’ decision-making is dependent variable. The findings reviled that the overconfidence, availability bias and past trends of stock have insignificant impact on investment decision of individual investors at CSE at 5 % significant level. The regret aversion, market information, buying and selling of other investors have significant impact on investment decision making of individual investors at CSE at 5 % significant level. The research, as overall, concluded that there is moderate significant impact of Northern province investors behavioral factors influence on individual investors’ decision making at CSE Sri Lanka
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Jabeen, Shaista, i Sayyid Salman Rizavi. "Short Term and Long Term Herding Prospects: Evidence from Pakistan Stock Exchange". Abasyn Journal of Social Sciences, Volume 14 issue 1 (30.06.2021): 119–44. http://dx.doi.org/10.34091/ajss.14.1.08.
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The present research intends to examine the herd behaviour of investors in the Pakistan Stock Exchange (PSX). Herd behaviour in stock market is sometimes based on fundamental information, which causes quick price adjustments to new information and leads to efficient markets. Still, sometimes it is not dependent on fundamental information and results in price instability. Herding can be a short term phenomenon, but sometimes a longer time span can provide favourable outcomes for the occurrence of herd behaviour. Considering these diverse views, intraday, daily, weekly, and monthly stock prices of 528 companies listed in the PSX have been used to calculate stock returns. Market-wide herd measure, i.e. CSAD, has been used to compute the herd behaviour. Data has been investigated for autocorrelation, heteroscedasticity, and stationarity issues. Findings revealed that herding did not exist in PSX, but some sectors showed this behaviour. Herd behaviour was more likely to exist at a daily level. The tendency of occurrence of the herding phenomenon gradually decreases at intraday and weekly levels. However, herding cannot be taken as a long term phenomenon as just a single sector was evidenced about its existence at the monthly level. Herding is an inherent phenomenon that is very difficult to eliminate from the stock market completely. However, knowledge and information sharing can guide investors to improve this behaviour Keywords: Herd Behaviour, Behavioural Finance, Return Dispersions, Pakistan Stock Exchange, CSAD
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Pinter-Wollman, Noa, Alan Penn, Guy Theraulaz i Stephen M. Fiore. "Interdisciplinary approaches for uncovering the impacts of architecture on collective behaviour". Philosophical Transactions of the Royal Society B: Biological Sciences 373, nr 1753 (2.07.2018): 20170232. http://dx.doi.org/10.1098/rstb.2017.0232.
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Built structures, such as animal nests or buildings that humans occupy, serve two overarching purposes: shelter and a space where individuals interact. The former has dominated much of the discussion in the literature. But, as the study of collective behaviour expands, it is time to elucidate the role of the built environment in shaping collective outcomes. Collective behaviour in social animals emerges from interactions, and collective cognition in humans emerges from communication and coordination. These collective actions have vast economic implications in human societies and critical fitness consequences in animal systems. Despite the obvious influence of space on interactions, because spatial proximity is necessary for an interaction to occur, spatial constraints are rarely considered in studies of collective behaviour or collective cognition. An interdisciplinary exchange between behavioural ecologists, evolutionary biologists, cognitive scientists, social scientists, architects and engineers can facilitate a productive exchange of ideas, methods and theory that could lead us to uncover unifying principles and novel research approaches and questions in studies of animal and human collective behaviour. This article, along with those in this theme issue aims to formalize and catalyse this interdisciplinary exchange. This article is part of the theme issue ‘Interdisciplinary approaches for uncovering the impacts of architecture on collective behaviour’.
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Abd Shukor, Ani Saifuza, Faridah Muhammad Halil, Mohammad Fadhil Mohammad i Rohana Mahbub. "Integration of Supply Chain in IBS Construction". Asian Journal of Quality of Life 1, nr 3 (5.09.2016): 18. http://dx.doi.org/10.21834/ajqol.v1i3.20.
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To ensure the success of IBS construction, the research will look at the integration means and factors that helped to integrate the IBS supply chains. Findings from semi-structured interviews with key IBS supply chain players revealed, human and behavioural factors, supply chain process and exchange flow, supply chain structure and collaboration and the working environment should be developed amongst the IBS supply chains. The findings contribute enabling factors to improve integration within IBS supply chains in the construction environment in Malaysia.2398-4279 © 2016. The Authors. Published for AMER ABRA by e-International Publishing House, Ltd., UK.. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.Keywords: Construction environment; Industralised Building System; integration and supply chain
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Abd Shukor, Ani Saifuza, Faridah Muhammad Halil, Mohammad Fadhil Mohammad i Rohana Mahbub. "Integration of Supply Chain in IBS Construction". Asian Journal of Quality of Life 1, nr 2 (5.09.2016): 18. http://dx.doi.org/10.21834/ajqol.v1i3.30.
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To ensure the success of IBS construction, the research will look at the integration means and factors that helped to integrate the IBS supply chains. Findings from semi-structured interviews with key IBS supply chain players revealed, human and behavioural factors, supply chain process and exchange flow, supply chain structure and collaboration and the working environment should be developed amongst the IBS supply chains. The findings contribute enabling factors to improve integration within IBS supply chains in the construction environment in Malaysia.2398-4279 © 2016. The Authors. Published for AMER ABRA by e-International Publishing House, Ltd., UK.. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.Keywords: Construction environment; Industralised Building System; integration and supply chain
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Ahmetaj, Natasha, i Merita Bejtja. "Determinants of the Real Equilibrium Exchange Rate in Albania: An Estimation Based on the Co-Integration Approach". ACRN Journal of Finance and Risk Perspectives 8, nr 1 (2019): 84–94. http://dx.doi.org/10.35944/jofrp.2019.8.1.005.
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Problem/Relevance: Investigation of exchange rate behaviour has been an important topic in international monetary economics because of the impact of exchange rates on economies. One strand of the literature has focused on explaining the observed movement of the nominal or real exchange rate in terms of macroeconomic variables. Another strand of the literature has evaluated the behaviour of the real exchange rates in relation to the equilibrium exchange rate, which is the real exchange rate that is consistent with macroeconomic balances. Albania implements a free floating exchange rate regime; therefore, evaluating whether the actual real exchange rate is too strong or too weak compared with the real equilibrium exchanges rate has great relevance for the Albanian economy. Research Objective/Questions: Generally, the real exchange rate is defined as the nominal exchange rate adjusted for the relative price differential between domestic and foreign goods and services. So, an appreciation of the nominal exchange rate or higher inflation at home relative to other countries may lead to an appreciation of the real exchange rate. Such appreciation weakens the competitiveness of a country, widens the current account deficit and increases vulnerability to financial crises. The opposite holds true when the real exchange rate depreciates. The aim of this paper is, first, to estimate the equilibrium real exchange rate for the Albanian currency against the euro and, second, to assess the total exchange rate misalignment during the period of 2001Q1-2017Q1. Thus, the equilibrium real exchange rate is used as a benchmark for evaluating the misalignment of the actual real exchange rate. Methodology: This paper explores the determinants of the real exchange rate for Albania, during the period of 2001Q1-2017Q1, based on the stock-flow approach, the so called Behavioural Equilibrium Exchange Rate (BEER), which effectively employs reduced-form modelling of the exchange rate based on standard co-integration techniques. The stock of net foreign assets and productivity changes has been considered fundamental for the real exchange rate. We have used the Johansen co integration technique to test the existence of long-run relationships between our main variables and to evaluate the path of the equilibrium real exchange rate based on vector error correction model (VECM) results. Then the analysis is completed by calculating the degree of misalignment as the difference between the actual real exchange rate and the equilibrium real exchange rate. Major Findings: Based on the Johansen co-integration approach, we find one long-run relationship between the real exchange rate of the Albanian lek against the euro, relative productivity and net foreign assets during the period of 2001Q1 to 2017Q1. The model implies that the real exchange rate is affected, as we expected, by relative productivity and net foreign assets, confirming that an increase in both variables leads to an appreciation of the real exchange rate in the long run. Our results show that the behaviour of the actual real exchange rate is similar to the path of the equilibrium exchange rate and that the degree of misalignment throughout the period is estimated to be moderate. Implications: Our empirical results confirm that the degree of misalignment is reasonable, suggesting a consistency between macroeconomic (especially monetary) policies and the free floating exchange rate regime. Assessing real exchange rate misalignment is a very important issue for policy makers because of the severe welfare and efficiency costs that such misalignment can have for an economy.
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Bham Babu, Bham. "Investment Strategies and Trading Approaches in Behavioural Finance". Shanlax International Journal of Management 8, nr 1 (1.07.2020): 42–47. http://dx.doi.org/10.34293/management.v8i1.2419.
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The behavioral finance literature documents several long-term investment strategies that persistently generate superior risk-adjusted returns. This study focuses on several investment strategies, trading approaches, and problems with the traditional financial theory’s explaining their logic and the historical returns generated by these strategies. In the case of the investor’s sentiment indicators and the anomaly, an exchange-traded fund (ETF) has been created to enable investors to simply and efficiently invest in the strategy.
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Eskola, Päivi, Outi Jolanki, Lina Van Aerschot i Mari Aaltonen. "Muistisairauden aiheuttamat käyttäytymisen muutokset ja parisuhteen vastavuoroisuus". Gerontologia 36, nr 4 (9.12.2022): 344–61. http://dx.doi.org/10.23989/gerontologia.114513.
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Muistisairauksiin usein liittyvät kognitiiviset ja persoonallisuuden muutokset sekä itseilmaisun vaikeudet saattavat ilmetä käyttäytymisen muutoksina. Puoliso ja muut läheiset kohtaavat nämä muutokset ensimmäisinä. Laadullisessa tutkimuksessamme selvitimme, millaisissa tilanteissa muistisairauden aiheuttamia ongelmallisina ja kielteisinä koettuja käyttäytymisen muutoksia ilmaantuu, ja miten ne vaikuttavat parisuhteen vastavuoroisuuteen. Käyttäytymisen muutoksista käytetään termiä ’käytösoireet’. Aineiston analyysissä hyödynsimme sosiaalisen vaihdon teoriaa. Käyttäytymisen muutokset tulivat puheeksi vain niissä haastatteluissa, joissa muistisairautta sairastava puoliso oli aviomies. Vaikka puoliso-omaishoitajat osasivat odottaa puolison käyttäytymisen muuttuvan sairauden myötä, muutokset tulivat yllätyksenä. Käytösoireet liittyivät tilanteisiin, joissa puoliso-omaishoitaja neuvoi, ohjasi tai rajoitti muistisairaan puolisonsa arkirutiineissa toimimista, sekä tilanteissa, joissa muistisairautta sairastava joutui kohtaamaan sairautensa. Sosiaalisen vaihdon teorian mukainen vastavuoroisuus ei toteudu parisuhteessa, jossa toisella puolisoista on etenevään muistisairauteen liittyviä ongelmalliseksi koettuja käytösoireita. Puoliso-omaishoitaja joutuu taiteilemaan arjessa välttyäkseen konfliktitilanteilta, eikä muistisairas puoliso välttämättä tunnista näitä tilanteita. Usein pitkään parisuhteeseen liittyvät vahvat tunnesiteet saavat jatkamaan yhteistä elämää. Behavioural changes caused by dementia and the reciprocity of a couplehood Usually, the spouse is the first to face the cognitive and personality changes associated with their partner´s dementia, which may manifest as behavioural changes. In this qualitative study, we examined in which situations disruptive behavioural symptoms caused by dementia appear and how they affect the reciprocity of spouses. The theory of social exchange was used to interpret the data. Disruptive symptoms were mentioned only in interviews of couples in which the spouse with dementia was the husband. Although the spousal carers expected that their partner’s behaviour might change with the illness, the behavioural symptoms came as a surprise. Behavioural symptoms appeared in situations where the partner with dementia tried to control the activities of their spousal carer, when the spousal carer had to advise and guide the partner´s daily routines, or limit what the partner with dementia was doing. Behavioural changes also appeared when the partner with dementia had to face his own illness. The theory of social exchange emphasizes reciprocity as the basis of an intimate relationship. When one of the spouses had dementia that causes disruptive behavioural changes, reciprocity was not possible. The spousal carer has to come up with various strategies to cope with daily life and avoid conflicts. These situations and efforts may not be recognized at all by the person with dementia. The strong emotional ties associated with a long-term intimate relationship make the spousal carers stay in the relationship.
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Hunguru, Peter, Vusumuzi Sibanda i Ruramayi Tadu. "Determinants of Investment Decisions: A Study of Individual Investors on the Zimbabwe Stock Exchange". Applied Economics and Finance 7, nr 5 (9.09.2020): 38. http://dx.doi.org/10.11114/aef.v7i5.4927.
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This study investigated factors that inform individual investors in their decision-making on the Zimbabwe Stock Exchange. The main objective was to identify and assess the effect of the behavioural factors on investment decisions of individual investors. A quantitative survey of 291 randomly selected individual Zimbabwe Stock Exchange investors was conducted. Multiple regression analysis was used to calculate the correlation coefficient of behavioural factors and investment decision while correlation analysis was used to measure the strength of the relationship between the independent variables. The findings of the study established that the predictor variables had a strong positive association between them and individual investor decision at a significant level of 0.01 and 0.005. The findings of the study revealed that individual investor decisions are influenced by the behavioural factors which are; anchoring, availability, gambler’s fallacy, overconfidence, herding, loss aversion, mental accounting, regret aversion and representativeness. The study recommends the need for improved information on the stock markets dynamics as well as training on investor awareness programmes to support the decision-making abilities of the individual investors on the ZSE to fully play its rightful role in the development of the economy.
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Tardif, Carole, Marie-Hélène Plumet, Janine Beaudichon, Delphine Waller, Manuel Bouvard i Marion Leboyer. "Micro-analysis of Social Interactions between Autistic Children and Normal Adults in Semi-structured Play Situations". International Journal of Behavioral Development 18, nr 4 (grudzień 1995): 727–47. http://dx.doi.org/10.1177/016502549501800409.
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The present study was designed to: (1) identify the qualitative and temporal characteristics of the exchange structures of autistic children interacting with an adult; and (2) analyse and compare the implementation of their interactive behaviour in a range of play situations. Ten autistic children aged 5 to 14 were video-taped while interacting with an adult in four play situations, with or without objects. The elementary behavioural events observed in the dyads were coded and processed on a computer by an automatic pattern detection program. The results showed that in this structured situation the autistic children engaged in a variety of behaviours for communicating with the adult, and that 8 of the 10 children repeatedly exhibited structures of interaction. These patterns were found to depend on IQ, but involved a certain number of peculiar characteristics (parasitic behaviours, lack of initiative, maladapted visual behaviour, etc.), even for the children with the highest IQ scores. The physical interaction situations gave rise to fewer and less elaborate patterns than the situations involving objects. Only the most advanced children participated in the joint-attention situation. The implications of the method for understanding the abnormal development of interaction in autism are discussed.
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Mpofu, Raphael Tabani. "An analysis of the statistical relationship between precious metals prices and other monetary policy variables and inflation in South Africa". Corporate Ownership and Control 9, nr 2 (2012): 420–37. http://dx.doi.org/10.22495/cocv9i2c4art4.
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This study looked at the statistical relationship between precious metals prices, oil prices, money supply, interest rates and exchange ratesandinflation. It particularly looked at how inflation was influenced by these variables over time. The findings in this study were consistent with the hypothesis that the values of these variables influence inflation in the short-term and long-term. One of the findingsthat could be of interest especially for South Africa indicates that precious metalsprice changes, especially gold,could act as signals of pending changes to inflation and are also statistically related to interest rate movements. However, it was also found that the relationship between exchange rates movements during the financial crisis era between 2008 and 2010 did affect the other variables like prime, precious metals prices and oil prices which led to significant spikes in inflation. It should be emphasized that these finding of a statistical relationship is only consistent with observed data pertaining to South Africa and not proof of such behaviour prevailing in other markets. Even then, such a conclusion would require the isolation of a number of country specific behaviours and factors that may be correlated with precious metals prices, oil prices, exchange rates and interest rates and that may simultaneously affect inflation, which this study did not factor in. However, knowledge of statistical relationships can help in informing monetary policy responses and designing appropriate portfolio strategies although these findings do not provide unambiguous proof of any underlying behavioural hypothesis.
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Vale, Gillian L., Emma G. Flynn, Jeremy Kendal, Bruce Rawlings, Lydia M. Hopper, Steven J. Schapiro, Susan P. Lambeth i Rachel L. Kendal. "Testing differential use of payoff-biased social learning strategies in children and chimpanzees". Proceedings of the Royal Society B: Biological Sciences 284, nr 1868 (29.11.2017): 20171751. http://dx.doi.org/10.1098/rspb.2017.1751.
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Various non-human animal species have been shown to exhibit behavioural traditions. Importantly, this research has been guided by what we know of human culture, and the question of whether animal cultures may be homologous or analogous to our own culture. In this paper, we assess whether models of human cultural transmission are relevant to understanding biological fundamentals by investigating whether accounts of human payoff-biased social learning are relevant to chimpanzees ( Pan troglodytes ). We submitted 4- and 5-year-old children ( N = 90) and captive chimpanzees ( N = 69) to a token–reward exchange task. The results revealed different forms of payoff-biased learning across species and contexts. Specifically, following personal and social exposure to different tokens, children's exchange behaviour was consistent with proportional imitation, where choice is affected by both prior personally acquired and socially demonstrated token–reward information. However, when the socially derived information regarding token value was novel, children's behaviour was consistent with proportional observation; paying attention to socially derived information and ignoring their prior personal experience. By contrast, chimpanzees' token choice was governed by their own prior experience only, with no effect of social demonstration on token choice, conforming to proportional reservation. We also find evidence for individual- and group-level differences in behaviour in both species. Despite the difference in payoff strategies used, both chimpanzees and children adopted beneficial traits when available. However, the strategies of the children are expected to be the most beneficial in promoting flexible behaviour by enabling existing behaviours to be updated or replaced with new and often superior ones.
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Yousuf, Zakhiyya, i Daniel Makina. "The behavioural finance paradigm and the adaptive market hypothesis". International Journal of Finance & Banking Studies (2147-4486) 11, nr 2 (21.05.2022): 34–48. http://dx.doi.org/10.20525/ijfbs.v11i2.1761.
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This study tests for the applicability of the Adaptive Market Hypothesis (AMH) and Bounded rationality theories on the Johannesburg Stock Exchange (JSE). This is in order to determine the influence of behavioural risk factors on the efficiency of the stock market. Behavioural theories show a gap in the theory of Efficient Market Hypothesis. Using quantile regression, our study established the applicability of the Adaptive Market Hypothesis on the JSE. Past market returns were shown to be significant in predicting future returns and thus did not follow a random walk. The lagged return increased at higher quantiles and differed with changes in market conditions (i.e. pre-financial crisis, financial crisis and post-financial crisis). Thus, the predictability of returns varies with a change in market conditions. This paper is focused on only on the Johannesburg stock exchange in South Africa, more specifically the movement is the all share index. The findings should be able to be applied to emerging and developed economies. Business confidence is found to have a negative relationship with returns showing a lag in time for sentiment to be incorporated in prices. In contrast, consumer confidence is found to have a positive relationship with returns. In summary, investors are shown to be influenced by fundamental and behavioural factors.
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Banerjee, Krittika, i Ashima Goyal. "Behavioural equilibrium real exchange rates and misalignments: Evidence from large emerging markets". Economic Analysis and Policy 70 (czerwiec 2021): 414–36. http://dx.doi.org/10.1016/j.eap.2021.03.004.
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Jiang, Chonghui, Yongkai Ma i Yunbi An. "International portfolio selection with exchange rate risk: A behavioural portfolio theory perspective". Journal of Banking & Finance 37, nr 2 (luty 2013): 648–59. http://dx.doi.org/10.1016/j.jbankfin.2012.10.004.
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GARRALDA, PABLO, EDUARDO BONELLI, ADRIANA COMPAGNONI i MARIANGIOLA DEZANI-CIANCAGLINI. "Boxed ambients with communication interfaces". Mathematical Structures in Computer Science 17, nr 4 (sierpień 2007): 587–645. http://dx.doi.org/10.1017/s0960129507006226.
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We define BACI(Boxed Ambients with Communication Interfaces), an ambient calculus with a flexible communication policy. Traditionally, typed ambient calculi have a fixed communication policy determining the kind of information that can be exchanged with a parent ambient, even though mobility changes the parent. BACI lifts that restriction, allowing different communication policies with different parents during computation. Furthermore, BACI separates communication and mobility by making the channels of communication between ambients explicit. In contrast with other typed ambient calculi where communication policies are global, each ambient in BACI is equipped with a description of the communication policies ruling its information exchange with parent and child ambients. The communication policies of ambients increase when they move: more precisely, when an ambient enters another ambient, the entering ambient and the host ambient can exchange their communication ports and agree on the kind of information to be exchanged. This information is recorded locally in both ambients.We show the type-soundness of BACI, proving that it satisfies the subject reduction property, and we study its behavioural semantics by means of a labelled transition system.
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Eppley, Timothy M., Katie Hall, Giuseppe Donati i Jörg U. Ganzhorn. "An unusual case of affiliative association of a female Lemur catta in a Hapalemur meridionalis social group". Behaviour 152, nr 7-8 (2015): 1041–61. http://dx.doi.org/10.1163/1568539x-00003267.
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Polyspecific associations are well documented, but have rarely been observed in strepsirrhines. In this study we present a unique affiliative association between a female ring-tailed lemur (Lemur catta) and a group of southern bamboo lemurs (Hapalemur meridionalis) in south-east Madagascar. Our main research focused onH. meridionalis; however, due to the presence of theL. cattawe treated her as a group member, including her in the focal sampling ofHapalemursocial behaviour. We also recorded ad libitum data on all food species/items and any unique events or occurrences. Among observations, both species appeared to have a mutual understanding of vocalisations, behavioural synchronisation, dietary overlap, and possible service exchange, e.g., grooming. We also observed theL. cattaoccasionally attending to the bamboo lemur infant. This included grooming, baby-sitting, and even transporting the infant. The behavioural flexibility exhibited by both species has allowed the successful integration of the female ring-tailed lemur.
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Goubault, Marlène, Tim P. Batchelor, Robert S. T. Linforth, Andrew J. Taylor i Ian C. W. Hardy. "Volatile emission by contest losers revealed by real-time chemical analysis". Proceedings of the Royal Society B: Biological Sciences 273, nr 1603 (8.08.2006): 2853–59. http://dx.doi.org/10.1098/rspb.2006.3655.
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Animal interactions often involve chemical exchange but simultaneous evaluation of chemistry and behaviour has been problematical. Here we report findings from a novel method, atmospheric pressure chemical ionization-mass spectrometry (APCI-MS) coupled with manipulation of molecular-mass achieved by rearing organisms on deuterium-enhanced nutrients. This allows real-time monitoring of the occurrence and quantity of volatile chemicals released by each of two interacting individuals, in tandem with behavioural observations. We apply these methods to female–female contests in the parasitoid wasp Goniozus legneri . We show that this species emits the spiroacetal 2-methyl-1,7-dioxaspiro[5.5]undecane. Chemical release is most common in more behaviourally aggressive contests, which occur when prior resource owners successfully resist take-over by similar-sized intruder females. Volatiles released during contests are always emitted by the loser. Aggression in contests is reduced after spiroacetal release. We suggest that the spiroacetal functions as a weapon of rearguard action. We anticipate that APCI-MS, which is rapid, non-intrusive and relatively inexpensive to operate, will be widely applied in studies linking chemistry and behaviour.
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Chavez, Cesar. "DETERMINANTS OF REAL EXCHANGE RATE: A BEHAVIOURAL AND FUNDAMENTAL DYNAMIC ANALYSIS IN LATIN AMERICAN COUNTRIES". Journal of Developing Economies 5, nr 1 (10.06.2020): 70. http://dx.doi.org/10.20473/jde.v5i1.18814.
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In this research, we analyze the determinants of the real exchange rate through the fundamentals and behavioral factors, adding other variables as monetary aggregates, economic growth, domestic savings, and productivity. We worked with thirteen Latin American countries from 1980 to 2018 and we used three estimates such as fixed-effects, random-effects, and System GMM. The findings show that although the real exchange rate has a large random component, due to the high coefficient presented by the past values of that variable, there are other variables such as terms of trade, net foreign assets, tax revenue, monetary aggregates, savings rates and productivity, or real interest rate differentials, relative price and economic growth, which can impact negatively and positively respectively. Keywords: Real Exchange Rate, System GMM, Macroeconomics FactorsJEL Classification: E52, E62, C33, C53
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Tomer, Samaira. "APPREHENSIONS WITH CRYPTOCURRENCY IN INDIA". International Journal of Advanced Research 10, nr 09 (30.09.2022): 1003–10. http://dx.doi.org/10.21474/ijar01/15448.
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The growth in information and communication technology has led to phenomenons in the financial sector as well. This primarily alludes to the introduction of cryptocurrencies, a decentralised medium of exchange, which provides an alternative to the centuries-old idea of physical money. There is a visible relationship between the principles of behavioural finance and the value/returns that these cryptocurrencies have. These currencies are not dependent on the behaviour of the financial markets and economy but instead on the supply and demand of the currency along with its popularity which is dependent purely on the individuals.
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Nedev, Bozhidar. "Cultural Specifics and the Momentum Effect on the Bulgarian Stock Exchange". Journal of Business Accounting and Finance Perspectives 3, nr 1 (9.03.2021): 1. http://dx.doi.org/10.35995/jbafp3010005.
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This article analyses the relationship between the documented momentum effect on the Bulgarian Stock Exchange and the cultural characteristics of Bulgarian society on the basis of the 6-Dimensions Culture Model by Hofstede. Derived are possible behavioural biases, that could cause investors to underreact to firm-specific information, resulting in short-term return predictability. Outlined are implications for the relation between the rising of momentum effect and low individualism index, as identified on the Bulgarian Stock Exchange (BSE).
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Fen, Nee Chong. "Can behavioural theories explain the initial return of Malaysian IPOs?" Social and Management Research Journal 8, nr 1 (1.06.2011): 23. http://dx.doi.org/10.24191/smrj.v8i1.5194.
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This paper investigated the impact of behavioural biases on the initial returns ofMalaysian IPOs from the perspectives of divergence of opinion and representative heuristics theories. The initial returns were calculated using 142 IPO samples listed on the Main Board of Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange). In addition to the behavioural proxies, ex-ante variables were included as control variables in the models for analysis. The findings showed support for initial underpricing of66.51%. Behavioural biases, divergence ofopinion and representative heuristics, were found to have significant explanatory powers over initial returns. The findings fit well with the profile of the Malaysian market whereby the majority of the investors are individuals who are not well-informed and have an emerging market status.
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Leca, Jean-Baptiste, Noëlle Gunst, Matthew Gardiner i I. Nengah Wandia. "Acquisition of object-robbing and object/food-bartering behaviours: a culturally maintained token economy in free-ranging long-tailed macaques". Philosophical Transactions of the Royal Society B: Biological Sciences 376, nr 1819 (11.01.2021): 20190677. http://dx.doi.org/10.1098/rstb.2019.0677.
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The token exchange paradigm shows that monkeys and great apes are able to use objects as symbolic tools to request specific food rewards. Such studies provide insights into the cognitive underpinnings of economic behaviour in non-human primates. However, the ecological validity of these laboratory-based experimental situations tends to be limited. Our field research aims to address the need for a more ecologically valid primate model of trading systems in humans. Around the Uluwatu Temple in Bali, Indonesia, a large free-ranging population of long-tailed macaques spontaneously and routinely engage in token-mediated bartering interactions with humans. These interactions occur in two phases: after stealing inedible and more or less valuable objects from humans, the macaques appear to use them as tokens, by returning them to humans in exchange for food. Our field observational and experimental data showed (i) age differences in robbing/bartering success, indicative of experiential learning, and (ii) clear behavioural associations between value-based token possession and quantity or quality of food rewards rejected and accepted by subadult and adult monkeys, suggestive of robbing/bartering payoff maximization and economic decision-making. This population-specific, prevalent, cross-generational, learned and socially influenced practice may be the first example of a culturally maintained token economy in free-ranging animals. This article is part of the theme issue ‘Existence and prevalence of economic behaviours among non-human primates'.
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IRFAN ULLAH, DR. MUHAMMAD ZAHID i ZAIN ULLAH. "The Impact of Behavioural Biases on Stock Volatility: Evidence From Pakistan Stock Exchange". Journal of Business & Tourism 5, nr 1 (6.11.2021): 215–25. http://dx.doi.org/10.34260/jbt.v5i1.128.
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The main purpose of the current study is to investigate the impact of behavioural biases such as confidence, optimism, and pessimism on stock volatility evidence from Pakistan Stock Exchange (PSX). Prospect theory and overconfidence theory formed the foundation of this study. The methodology composed of positivist philosophical stance, deductive approach and quantitative methods with secondary data. Data analysis involved the use of descriptive statistics, correlation and regression. The study consists ofa 10-years analysis from June 2008 to June 2018 and includes daily trading volumes KSE-100 index in PSX. Results reveal that behavioral biases such as confidence have a positive impact on stock volatility. Similarly, optimism bias has also a positive impact on stock volatility. While pessimism bias has recorded a negative impact on stock volatility. Therefore, it is concluded that behavioural biases have an impact on stock volatility. The current study has a contribution to the body of knowledge on the ground that it attempts to change the traditional notion of society who believes in the efficient market hypothesis. The study has implications for different stakeholders of stock markets.
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saayman, andrea. "A PANEL DATA APPROACH TO THE BEHAVIOURAL EQUILIBRIUM EXCHANGE RATE OF THE ZAR". South African Journal of Economics 78, nr 1 (marzec 2010): 57–75. http://dx.doi.org/10.1111/j.1813-6982.2010.01232.x.
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