Entries by vojtech.zika

Managers in Russia have to cheat if they want to be profitable

Petr Houdek, founder of the Center for Behavioral Experiments in Prague, discusses the problem of dishonest behaviour and corruption. He is presenting the results of experiments from Czech Republic which are in contrast with the results from USA or Slovakia. The level of corruption in post communistic countries is usually higher. Consumer surveys shows that […]

Justine effect: Punishment of the unduly self-sacrificing cooperative individuals

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 is better to have 1000 educated consumers than 3 regulators

Petr Houdek explains psychological background of our decisions and importance of education about financial decisions for the web penize.cz.  Some government regulations are important but education about financial decisions and investing is essential. We spent more time for deciding which television we want to buy than for deciding about our retirement saving. For more information […]

Winning in lottery is useless if we do not know how to invest the money

Petr Houdek answers questions about behavioral economics and irrationality in decision making process for the website penize.cz. He explains the modern perspectives on consumer behavior based on the gender differences and the effect of different situations on decision making. Article also deals with the differences in investments from the winners of lottery in different states […]

How do we support and harm others

Petr Houdek was discussing the topic of monetary incentives on human behaviour in TEDx Talk . He presented results of experiments for supporting the idea that we can be more productive and effective, even when we do not recieve a money for our work. In some cases, if we offer money for participating in blood […]

Time Preferences in the Perspective of Cognitive Neurosciences

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, […]