Seemingly incidental emotions can influence the prices at which individuals buy and sell goods, according to a groundbreaking study by researchers at Carnegie Mellon University.
While prior research has found that people set a higher price for objects they own than they themselves would be willing to pay—which economists call the endowment effect—the Carnegie Mellon study found that people who are sad actually are willing to accept less money to sell something than they would pay for the same object. The researchers also found that when people experience disgust, both buying and selling prices fall. This multidisciplinary study will be published in the May edition of Psychological Science, the prestigious journal of the American Psychological Society.
"We’re showing for the first time that incidental emotions from one situation can exert a causal effect on economic behavior in other, ostensibly unrelated situations," said Jennifer Lerner, an assistant professor of social and decision sciences and psychology. Lerner co-authored the study with Economics Professor George Loewenstein and Deborah Small, a doctoral student in the Department of Social and Decision Sciences who soon will be joining the faculty at the Wharton School of Business at the University of Pennsylvania.
Jonathan Potts | Carnegie Mellon University
New population data provide insight on aging, migration
31.08.2016 | International Institute for Applied Systems Analysis (IIASA)
PRB projects world population rising 33 percent by 2050 to nearly 10 billion
25.08.2016 | Population Reference Bureau
Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.
"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...
In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.
A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...
By forcefully embedding two silicon atoms in a diamond matrix, Sandia researchers have demonstrated for the first time on a single chip all the components needed to create a quantum bridge to link quantum computers together.
"People have already built small quantum computers," says Sandia researcher Ryan Camacho. "Maybe the first useful one won't be a single giant quantum computer...
COMPAMED has become the leading international marketplace for suppliers of medical manufacturing. The trade fair, which takes place every November and is co-located to MEDICA in Dusseldorf, has been steadily growing over the past years and shows that medical technology remains a rapidly growing market.
In 2016, the joint pavilion by the IVAM Microtechnology Network, the Product Market “High-tech for Medical Devices”, will be located in Hall 8a again and will...
'Ferroelectric' materials can switch between different states of electrical polarization in response to an external electric field. This flexibility means they show promise for many applications, for example in electronic devices and computer memory. Current ferroelectric materials are highly valued for their thermal and chemical stability and rapid electro-mechanical responses, but creating a material that is scalable down to the tiny sizes needed for technologies like silicon-based semiconductors (Si-based CMOS) has proven challenging.
Now, Hiroshi Funakubo and co-workers at the Tokyo Institute of Technology, in collaboration with researchers across Japan, have conducted experiments to...
14.10.2016 | Event News
14.10.2016 | Event News
12.10.2016 | Event News
21.10.2016 | Health and Medicine
21.10.2016 | Information Technology
21.10.2016 | Materials Sciences