Since its inception, the literature on IT outsourcing has acknowledged that the strategy has the potential for substantial benefits, but also the likelihood of significant risks. However, these risks have not deterred the growth of IT outsourcing. This may be because the literature has not fully explored the probability of encountering IT outsourcing risks, and, conversely, the probability of s...

Decisions often rely on judgments about the probabilities of various explanations. Recent research has uncovered a host of biases that afflict explanatory inference: Would these biases also translate into decision-making? We find that although people show biased inferences when making explanatory judgments in decision-relevant contexts (Exp. 1A), these biases are attenuated or eliminated when t...

a r t i c l e i n f o Keywords: Loss aversion Downward housing price rigidity Monetary policy Threshold error correction model Asymmetric adjustment Previous studies have discovered the defensive characteristics of housing prices, which is also known as downward price rigidity. This paper discusses whether this feature would result in an asymmetric relationship between housing prices and moneta...

The ”irrational exuberance” of the stock market in the late 1990’s lead to a discussion of the appropriate policy response by monetary authorities. Any response would be contingent on the stock market reaction to policy shocks. In this study I employ a structural VAR to estimate the response of the stock market returns to innovations in the federal funds rate. The effect of the stock market on ...

Adolescence is often viewed as a time of irrational, risky decision-making - despite adolescents' competence in other cognitive domains. In this study, we examined the strategies used by adolescents (N=30) and young adults (N=47) to resolve complex, multi-outcome economic gambles. Compared to adults, adolescents were more likely to make conservative, loss-minimizing choices consistent with econ...

When making choices under conditions of perceptual uncertainty, past experience can play a vital role. However, it can also lead to biases that worsen decisions. Consistent with previous observations, we found that human choices are influenced by the success or failure of past choices even in a standard two-alternative detection task, where choice history is irrelevant. The typical bias was one...

In this work, we focus on multi-criteria decision making and in particular, in the case of multiple experts (ME-MCDM). The problem of making decisions when multiple (possibly conflicting) criteria are involved often boils down to identifying an aggregation function that will combine all appreciations of the multiple dimensions of the problem. In the case of Multiple Experts, decisions even alre...

In December, 2010, Canada's 6 year old Assisted Human Reproduction Act was successfully challenged in the Supreme Court of Canada. There may be important implications for public health and the evolution of reproductive technologies in this country.

Can the modern economy function without a market for interestbased credit? This question has acquired some urgency in the wake of the recent Shariat Court ruling banning interest in Pakistan. Some pundits have pronounced that great harm will result from the banning of interest. Actually, such pronouncements are based on a lack of understanding of both the modern economic system, as well as the ...