We study the effects of time pressure on risky decisions for pure gain prospects, pure loss prospects, and mixed prospects involving both gains and losses. In an experiment we find that risk aversion for gains is robust under time pressure whereas risk seeking for losses turns into risk aversion under time pressure. For mixed prospects, subjects become more loss averse and more gain seeking und...

Following the Stern review of climate change the numerical choice of the social discount rate has been identified as one of the most crucial determinants of optimal policy recommendations for greenhouse gas mitigation policies. In this paper I point out two closely related contributions to the social discount rate in an uncertain world that have been overlooked in the debate. First, the standar...

We test whether promises per se are effective in enhancing cooperative behavior in a form of trust game. In a new treatment, rather than permitting free-form messages, we instead allow only a bare promise-only message to be sent (or not). We find that bare promises are much less effective in achieving good social outcomes than free-form messages; in fact, bare promise-only messages lead to beha...

Income mobility is often thought to equalize permanent incomes and thereby to improve social welfare. The welfare analysis of mobility often fails, however, to account for the cost of the variability of periodic incomes around permanent incomes. This paper assesses the net welfare benefit of mobility by assuming both a social aversion to inequality in permanent incomes and an individual aversio...

The heightened belief that others intend to harm you (paranoia) is often accompanied by social withdrawal, avoidance and isolation. We investigated whether paranoia related betrayal aversion: the tendency avoid potential caused other people over above an equivalent a non-social mechanism. Across three large-N (Ntotal = 2433) pre-registered online studies, we employed game theoretic paradigm whe...

Drawing upon climate change damage functions previously proposed in the literature that we have calibrated to a common level of damages at 2.5 C, we examine the effect upon the social cost of carbon (SCC) of varying the specification of damages in a DICE-like integrated assessment model. In the absence of risk aversion, all of the SCC estimates but one agree within a factor of two. The effect o...

Modern neuroscience is beginning to substantiate Darwin's notion that the roots of human morality lie in social instincts, present in several species. The role of primitive motivational-emotional systems in human morality still remains under-recognized, however. Based on recent experimental evidence and classic neuroanatomical data, we here portray a view of how "ancient" limbic-neurohumoral sy...

An experiment examined whether and how the relationship between individual differences in social attachment and cooperation is modulated by brain oxytocin, a neuropeptide implicated both in parent-child bonding, and in social approach. Healthy males completed a validated attachment style measure, received intranasal oxytocin or placebo, and privately chose between cooperation and non-cooperatio...

The relationship between finance and other social sciences as known behavioural finance, evaluate investors to the decision-making process and their reaction to different conditions of financial markets deals. In this study assumed that analysts are specialist in fundamental and technical analysis and then influence their personality characteristics is evaluated on their performance. Statistica...