Citation: Vranka, M.A., & Houdek, P. (2015). Many faces of bankers’ identity: How (not) to study dishonesty. Frontiers in Psychology, 6(302). doi: 10.3389/fpsyg.2015.00302
This article presents a review on how the optimism bias and overconfidence effects might affect the performance of an individual, and in particular, of a manager or a business owner. The former one appears to be an evolutionary adaptation responsible for a good mental health, and as such is being considered as one of the most consistent, prevalent, and robust biases documented in psychology and behavioral economics. Together with the latter one, these cognitive biases might result in persistent impression that chosen strategy is reasonable, even if a statistical evidence or past experience indicate the contrary. The paper also offers several ideas how to increase performance by reducing effects of an excessive optimism and confidence, even though sometimes just the mere awareness of them can do the trick.
Citation: Zíka, V., & Koblovský, P. Optimism bias and overconfidence effects in managerial decision making. Conference Paper.
Allowing players to punish their opponents in Public Goods Game sustains cooperation within a group and thus brings advantage to the cooperative individuals. However, the possibility of punishment of the co-players can result in antisocial punishment, the punishment of those players who contribute the most in the group. To better understand why antisocial punishment exists, it must be determined who are the anti-social punishers and who are their primary targets.
Citation: Kuběna, A.A., Houdek, P., Lindová, J., Příplatová, L., & Flegr, J. (2014). Justine effect: Punishment of the unduly self-sacrificing cooperative individuals. PLoS ONE, 9(3), e92336. doi: 10.1371/journal.pone.0092336
Citation: Rusinova, K., & Houdek, P. (2013). Physicians looking in the mirror: How we may influence the end-of-life decisions of surrogates. Critical Care Medicine, 41(7), 1814-1815. doi: 10.1097/CCM.0b013e3182913395
An application of findings of cognitive science and neuroscience revealing function of brain processes can already introduce analytical tools for estimating human behavior in real environment. This paper reviews research of neural correlates of intertemporal decision making. The results show that intertemporal decision-making is not an integral phenomena as implied by the exponential discounting model, however it employs several distinct neural systems in the brain (e.g. the data shows the structural relevance of hyperbolic utility discounting) and causes that intertemporal decision-making focused on long term objectives is quantitatively different, as was also observed on impulsive preference reversals and lack of will-power phenomena. At the same time research in neuroeconomics shows the importance of subjective time-delays analysis in comparison with simple discounting of expected utility and points out that models integrating feelings of expectation i.e. anticipation (enjoyment, fear), which significantly impact the present utility magnitude, are correct. Nevertheless author admits that utilization of neuroeconomics is only potential for, to date, the research has not been able to answer economic questions in a better way than current purely economic research.
Citation: Houdek, P. (2008). Time Preferences in the Perspective of Cognitive Neurosciences. E-Logos, Electronic Journal for Philosophy, 15(2008), ISSN 1211-0442. [in Czech as Časové preference z pohledu kognitivní neurovědy
Houdek, P., & Koblovský, P. (2007). General introduction to behavioral law and economics. Acta Oeconomica Pragensia, 4(15), 137-145.