Attention to Authority: The behavioural finance of Covid-19

In operant conditioning, the timing of reinforcement is crucial. For animals like rats and cats, immediate reinforcement (within a few seconds) is much more effective than delayed reinforcement. For example, a food reward for a rat needs to follow within 30 seconds of pressing a bar to be effective. 
Humans, however, can respond to delayed reinforcers. We often make decisions between immediate small rewards and delayed larger rewards. This ability to delay gratification is a significant...

The field of behaviorism was pioneered by figures such as Ivan Pavlov, John B. Watson, and B.F. Skinner fundamentally shifted the focus of psychology to the observable and controllable aspects of human and animal behavior. This shift marked a critical evolution in the discipline, emphasizing scientific rigor and experimental methodology.
The core premise of behaviorism is its focus on observable behavior rather than internal thoughts or feelings. This approach argues that true scientific...

While variables are sometimes correlated because one does cause the other, it could also be that some other factor, a confounding variable, is actually causing the systematic movement in our variables of interest. For instance, as sales in ice cream increase, so does the overall rate of crime. Is it possible that indulging in your favorite flavor of ice cream could send you on a crime spree? Or, after committing crime do you think you might decide to treat yourself to a cone?

Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when...

Behavioral approaches have often been criticized for ignoring mental processes and focusing solely on observable behavior. However, these approaches provide an optimistic perspective for individuals seeking to change their behaviors. Rather than concentrating on intrinsic personality traits, behavioral approaches suggest that even longstanding habits can be modified by changing the reward contingencies that maintain them.
A real-world application of operant conditioning principles is applied...

Operant conditioning serves as a foundational principle in therapeutic interventions aimed at modifying maladaptive behaviors. Central to this approach is the notion that behaviors, both adaptive and maladaptive, are learned through reinforcement. By analyzing the environmental factors that reinforce problematic behaviors, clinicians can design interventions to weaken these reinforcements and replace maladaptive behaviors with healthier alternatives.
In operant conditioning, behaviors that are...