On the relation between economic bubbles and effort gaps between sellers and buyers: An experimental study

Eldad Yechiam1, Amitay Kauffmann1, Nathaniel J S Ashby1

  • 1Max Wertheimer Minerva Center for Cognitive Studies, Faculty of Industrial Engineering and Management, Technion - Israel Institute of Technology, Haifa, Israel.

Plos One
|December 12, 2017
PubMed

Related Concept Videos

Social Exchange Theory01:26

Social Exchange Theory

As formulated by John Thibaut and Harold Kelley, Social Exchange Theory explains human relationships as economic-like exchanges that maximize rewards and minimize costs. This theory suggests that individuals engage in relationships to gain benefits and reduce burdens, similar to economic transactions. It has been widely applied to various types of relationships, including romantic, professional, and social interactions.Rewards and Costs in RelationshipsRelationship rewards include emotional...
525
Social Exchange Theory02:06

Social Exchange Theory

We have discussed why we form relationships, what attracts us to others, and different types of love. But what determines whether we are satisfied with and stay in a relationship? One theory that provides an explanation is social exchange theory. According to social exchange theory, we act as naïve economists in keeping a tally of the ratio of costs and benefits of forming and maintaining a relationship with others (Rusbult & Van Lange, 2003).
40.8K
Self-Discrepancy Theory02:45

Self-Discrepancy Theory

One influential perspective on what motivates people's behavior is detailed in Tory Higgin's self-discrepancy theory (Higgins, 1987). He proposed that people hold disagreeing internal representations of themselves that lead to different emotional states.  
19.0K
Excess Pressure Inside a Drop and a Bubble01:13

Excess Pressure Inside a Drop and a Bubble

The shape of a small drop of liquid can be considered spherical, neglecting the effect of gravity. This drop can further be considered as two equal hemispherical drops put together due to surface tension. The forces acting on the spherical drop are due to the pressure of the liquid inside the drop, the pressure due to air outside the drop, and the force due to the surface tension acting on the two hemispherical drops.
3.6K
Social Loafing01:37

Social Loafing

Another way in which a group presence can affect performance is social loafing—the exertion of less effort by a person working together with a group. Social loafing occurs when our individual performance cannot be evaluated separately from the group. Thus, group performance declines on easy tasks (Karau & Williams, 1993). Essentially individual group members loaf and let other group members pick up the slack. Because each individual’s efforts cannot be evaluated,...
39.8K
Cognitive Dissonance01:38

Cognitive Dissonance

Social psychologists have documented that feeling good about ourselves and maintaining positive self-esteem is a powerful motivator of human behavior (Tavris & Aronson, 2008). In the United States, members of the predominant culture typically think very highly of themselves and view themselves as good people who are above average on many desirable traits (Ehrlinger, Gilovich, & Ross, 2005). Often, our behavior, attitudes, and beliefs are affected when we experience a threat to our...
37.5K