Subjects: Psychology >> Social Psychology submitted time 2023-11-27
Abstract： The eye effect refers to the significant changes in people’s behavior when presented with direct eye cues. Previous research has found that eye cues have several positive effects, such as increasing people’s prosocial behavior, reducing antisocial behavior, and increasing self-awareness. However, these effects are often unstable. Factors that lead to the instability of the eye effect include physiological characteristics of the eyes, emotional type, presentation time, direction of gaze, form of task interaction, number of people around, noise in the vicinity, individual self-awareness, group identity, and behavioral costs. The principles behind it can be summarized as reputation mechanism and rule mechanism. Explaining the reasons for the instability of the eye effect based on the influencing factors and psychological mechanisms perspectives can provide theoretical insights into its ability to produce stable benefits. Future research could further refine the types of eye cues to expand the scope of the study, incorporate cognitive neuroscience techniques to explore the neural mechanisms involved, conduct longitudinal comparisons at different developmental stages of individuals, and conduct field studies to improve the ecological validity of the research in this area.The eye effect refers to the significant changes in people’s behavior when presented with direct eye cues. Previous research has found that eye cues have several positive effects, such as increasing people’s prosocial behavior, reducing antisocial behavior, and increasing self-awareness. However, these effects are often unstable. Factors that lead to the instability of the eye effect include physiological characteristics of the eyes, emotional type, presentation time, direction of gaze, form of task interaction, number of people around, noise in the vicinity, individual self-awareness, group identity, and behavioral costs. The principles behind it can be summarized as reputation mechanism and rule mechanism. Explaining the reasons for the instability of the eye effect based on the influencing factors and psychological mechanisms perspectives can provide theoretical insights into its ability to produce stable benefits. Future research could further refine the types of eye cues to expand the scope of the study, incorporate cognitive neuroscience techniques to explore the neural mechanisms involved, conduct longitudinal comparisons at different developmental stages of individuals, and conduct field studies to improve the ecological validity of the research in this area.
Subjects: Psychology >> Social Psychology Subjects: Psychology >> Experimental Psychology submitted time 2022-07-01
Abstract：
Stock trading is a complex decision-making situation. How can a stock market novice be influenced by experts? This involves the issue of advice-taking in decision-making, which usually adopts the judge-advisor system (JAS) paradigm. The need for cognitive closure (NFCC) is defined as a motivation for seeking a firm answer to a question and ending ambiguity. The quality of advice (QOA) is a subjective perception to measure advice accuracy, which directly affects judges’ advice-taking. Since the assessment of the QOA is a dynamic adjustment process, will it lead to more reliance on advice information for those with a high NFCC? For instance, participants with a high NFCC are still more likely to take advice when presenting a low-quality advice.
Advice-taking in the JAS paradigm has been measured via formula (1) generally（Yaniv，2004a). We argue that this indicator will damage information during processing extreme data, such as woa>1, which may lead to low sensitivity. We proposed the formula (2) to avoid the disadvantage of formula (1).
....................(1)
where WOA is the weight of advice; VoF is the value of final; VoI is the value of initial; VoA is the value of advice.
..............(2)
Formula (2) established if and only if VoA≠VoI, otherwise WOAlg=0.
In this paper, JAS paradigm was employed to program a task of stock closing price estimation. The 30 stocks from Shanghai and Shenzhen Stock Market were selected as experimental materials. The experiment manipulated the NFCC of participants through the time pressure provided to the participants, meanwhile the QOA was manipulated based on the average accuracy of advisor, which the high QOA is an advice whose accuracy is 80%, whereas the accuracy of the low QOA is 60%. The 2(NFCC: high vs. low) ×2(QOA: high vs. low) ×30(trials of prediction) mixed experimental design was employed with NFCC and QOA as between-subjects variables and with trials of prediction as a within-subject variable. The dependent variables were prediction accuracy, score, WOA, WOAlg, pre-advice confidence, post-advice confidence, and accuracy rating for advisors.
Consistent with our hypothesis, the results confirmed that: 1) WOAlg was a more sensitive index in comparison to the WOA. 2) Under the low QOA, the participants with a high NFCC were more likely to accept the advice, and during the high QOA, the NFCC didn't affect the advice taking. 3) the participants with a low NFCC were more likely to accept the advice when the QOA was high, however, for those with a high NFCC, the QOA didn't affect the advice-taking. 4)The advice from advisors improved the accuracy of participants’ stock predictions, however, the accuracy rating for advisors for high-quality advice was underestimated.
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