Information Trading in Terms of Brokers' Functional Cognition: an Exploratory Single Participant Experimentation
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oct 7, 2016
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Resumen
Information trading (henceforth IT) is a criminal offense in the vicinity of mega stock markets. It gives an unfair and illegal advantage to the buyer of related information. The national and global damage caused by this sort of delinquency is immense, in a yearly scale of trillions. On top of the applied importance of such offenses, they pose a meaningful theoretical and empirical challenge. The present proposal offers an attempt to exemplify the viability of the Functional Theory of Cognition and the methodological counterpart of the theory, Functional Measurement, as a means to establish a basis for related profiling attempts in terms of the functional way IT is coded in the beholders’ (i.e., senior brokers) cognitive system. An exemplary single-participant functional measurement is presented along with a demo empirical illustration of the way the distinction between Type A and Type B brokers can contribute to due profiling. Possible future related scientific ventures are pointed at briefly.
Keywords
Information Trading, cognición, medición funcionalInformation Trading, functional cognition, functional measurement
References
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Kahneman, D. (2000). A psychological point of view: Violations of rational rules as a diagnostic of mental processes. Behavioral and Brain Sciences, 23 , 681-683.
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Spence, J. T., Helmreich, R. L., & Pred, R. S. (1987). Impatience versus achievement strivings in the type A pattern: Differential effects on students' health and academic achievement. Journal of Applied Psychology, 72 , 522-528.
Takahashi, T., Sakaguchi, K., Oki, M., Homma, S., & Hasegawa, T. (2006). Testosterone levels and discounting delayed monetary gains and losses in male humans. Neuroendocrinology Letters, 27 , 439–444.
Thornton, B., Thornton, R. M., & Gold, J. A. (2011). Competitive orientations and the Type A behavior pattern. Psychology, 2 , 411-415.
Wolf, Y. (2001). Modularity in everyday life: Judgments of aggression and violent behavior. Aggression and Violent Behavior, 6 , 1-34.
Wolf, Y. (2002). Violations of out-group and in-group regulations in the eyes of ordinary and protected prisoners: An instance of judgmental modularity. International Journal of Offender Therapy and Comparative Criminology , 46, 206-219.
Yang, W., & Ju, X. (2012). The research of investment decision-making behavior model based on bounded rationality. Advances in Information Sciences and Service Sciences, 4 , 175-181
Zafirovski, M. (2013). Beneath rational choice: Elements of irrational choice theory. Current Sociology, 61 , 3-21.
Zethraeus, N. (2009). A randomized trial of the effect of estrogen and testosterone on economic behavior. Proceeding of the National Academy of Science, 106 , 6535–6538.
Anderson, N. H. (1991a). Contributions to information integration theory (Vol. 1. Cognition; Vol 2. Social; Vol 3. Developmental) . New York: Mahwah, NJ: Erlbaum.
Anderson, N. H. (1991b). Psychodynamics of everyday life: Blaming and avoiding blame. In N. H. Anderson (Ed.), Contributions to information integration theory, Vol. 2. Social (pp. 242-275) . New York: Mahwah, NJ: Erlbaum.
Anderson, N. H. (1996). A functional theory of cognition . Mahwah, NJ: Erlbaum.
Anderson, N. H. (2001). Empirical direction in design and analysis . Mahwah, NJ: Erlbaum.
Anderson, N. H. (2008). Unified social cognition . New York: Psychology Press.
Anderson, N. H. (2013). Unified psychology based on three laws of information integration. Review of General Psychology, 17 , 125-132.
Apicella, C. L., Dreber, A., Campbell, B., Gray, P. B., Hoffman, M., & Little A. C. (2008). Testosterone and financial risk preferences. Evolution of Human Behavior, 29 , 384–390.
Arieli, D. (2008). Predictably irrational: The hidden forces that shape our decisions . New York: HarperCollins.
Arieli, D. (2012). The (honest) truth about dishonesty: How we lie to everyone –especially ourselves . New York: HarperCollins.
Aumann, R. J. ([1987], 2008). "Game theory: Introduction . The New Palgrave Dictionary of Economics. 2nd Edition.
Boumans, M. (2011). The two-model problem in rational decision making. Rationality and Society, 23 , 371-400.
Bicchieri, C. (2003). “Rationality and Game Theory”, The handbook of rationality . The Oxford Reference Library of Philosophy, Oxford University Press.
Blanco, C., Ibañez, A., Blanco-Jerez, CR., Baca-Garcia, E., & Saiz-Ruiz, J. (2001). Plasma testosterone and pathological gambling. Psychiatry Research, 105 , 117–121.
Brase, G.L., Shanteau, J. (2011). The unbearable lightness of "Thinking": Moving beyond simple concepts of thinking, rationality, and hypothesis testing. Behavioral and Brain Sciences, 34 , 250-251.
Chetan, D. (2011). Are investment expectations rational adaptive or regressive? Economic Inquiry, 49 , 212-225.
Earle, W. J. (2009). How irrational are we? Critical notice of Dan Ariely predictably irrational: The hidden forces that shape our decisions. Philosophical Forum, 40 , 149-164.
Edward, J. N., & Errouaki, K. (2011). Rational econometric man . Cheltenham: E. Elgar
Fellner , G., Güthb, W., & Maciejovsky, B. (2009). Satisfying in financial decision making: a theoretical and experimental approach to bounded rationality. Journal of Mathematical Psychology, 153 , 26- 33.
Figner, B., Mackinlay, R. J., Wilkening, F., & Weber, E. U. (2009). Affective and deliberative processes in risky choice: Age differences in risk taking in the Columbia Card Task. Journal of Experimental Psychology: Learning, Memory, and Cognition, 35 ,195-197.
Giuseppe, C., & Enrico, M. (2013). Rational expectations and loss aversion: Potential output and welfare implications. Journal of Economic Behavior and Organization, 86 , 24-36.
Hofmans, J., Shanteau, J., & Masin, S. (2012). Information integration theory and functional measurement: Applications in psychology. Psicologica, 33 , 419-423.
Jenkins, C. D., Zyzanski, S. J., & Rosenman, R. H. (1979). JAS manual . New York, NY: The Psychological Corporation.
Jex, S. M., Adams, G. A., Elacqua, T. C., & Bachrack, D. G. (2002). Type A as a moderator of stressors and job complexity: A comparison of achievement strivings and impatience- irritability. Journal of Applied Social Psychology, 32 , 977-996.
Kahneman, D. (1988). Experimental economics: A psychological perspective. In R. Tietz, W. Albers & R. Selten (Eds.), Bounded rational behavior in experimental games and markets (pp. 11-18). Berlin: Springer-Verlag.
Kahneman, D. (1994). New challenges to the rationality assumption. Journal of Institutional and Theoretical Economics, 150 , 18-36.
Kahneman, D. (2000). A psychological point of view: Violations of rational rules as a diagnostic of mental processes. Behavioral and Brain Sciences, 23 , 681-683.
Kahneman, D. (2003). A perspective on judgment and choice: Mapping bounded rationality. American Psychologist, 58 , 697-720.
Kahneman, D., & Reipe, M. W.(1998). Aspects of investor psychology. The Journal of Portfolio Management, 24 , 52-65.
Lopes, L. (1987). Between hope and fear: The psychology of risk. Advances in Experimental Social Psychology, 20 , 255-295.
Sapra, S., Beavin, L. E., & Zak, P. J. (2012). A Combination of dopamine genes predicts success by professional Wall Street traders. PLoS ONE 7(1) : e30844.
Smith, C. S., Shanteau, J., & Johnson, P.E. (2004). Psychological explorations of competent decision making . Cambridge: Cambridge University Press.
Spence, J. T., Helmreich, R. L., & Pred, R. S. (1987). Impatience versus achievement strivings in the type A pattern: Differential effects on students' health and academic achievement. Journal of Applied Psychology, 72 , 522-528.
Takahashi, T., Sakaguchi, K., Oki, M., Homma, S., & Hasegawa, T. (2006). Testosterone levels and discounting delayed monetary gains and losses in male humans. Neuroendocrinology Letters, 27 , 439–444.
Thornton, B., Thornton, R. M., & Gold, J. A. (2011). Competitive orientations and the Type A behavior pattern. Psychology, 2 , 411-415.
Wolf, Y. (2001). Modularity in everyday life: Judgments of aggression and violent behavior. Aggression and Violent Behavior, 6 , 1-34.
Wolf, Y. (2002). Violations of out-group and in-group regulations in the eyes of ordinary and protected prisoners: An instance of judgmental modularity. International Journal of Offender Therapy and Comparative Criminology , 46, 206-219.
Yang, W., & Ju, X. (2012). The research of investment decision-making behavior model based on bounded rationality. Advances in Information Sciences and Service Sciences, 4 , 175-181
Zafirovski, M. (2013). Beneath rational choice: Elements of irrational choice theory. Current Sociology, 61 , 3-21.
Zethraeus, N. (2009). A randomized trial of the effect of estrogen and testosterone on economic behavior. Proceeding of the National Academy of Science, 106 , 6535–6538.
Cómo citar
Laskov-Peled, R., & Wolf, Y. (2016). Information Trading in Terms of Brokers’ Functional Cognition: an Exploratory Single Participant Experimentation. Universitas Psychologica, 15(3), 1–11. https://doi.org/10.11144/Javeriana.upsy15-3.ittb
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