Study: Unhappiness intensifies the avoidance of frequent losses

first_imgLinkedIn PsyPost: Why were you interested in this topic?Yechiam: I guess my interest was aroused by a rather weird finding in decision science that people who are induced to have negative affect (e.g., by seeing a sad movie) tend to take more risk. To me, this was non-intuitive, as I felt that when a person is sad or upset she would tend to shy away from the possibility of getting more negative repercussions by taking additional risk — being more sensitized due to her current negative feeling.Indeed, in pain research it has been repeatedly observed that those in a negative mood avoid pain and have higher pain thresholds.What should the average person take away from your study?Turns out people do prefer to avoid frequent negative events when they are upset. So they avoid risks with frequent negative penalties. But they don’t mind being exposed to risk when it’s the kind that most of the time gives positive rewards. Therefore, negative mood does not lead to more sensitivity to the overall negative penalty but to its frequency – with frequent penalties being avoided more.This is also consistent with the findings that negative mood is sometimes associated with drug use and binging — these can be risky alternatives, but most of the time these activities provide positive rewards. Hence, these activities are not avoided by those with a negative mood.Another interesting finding of the current study concerns the well known phenomena that people are generally over-sensitive to frequent small losses. For instance, in behavioral experiments people don’t like gambling machines of the type that give a loss of $1 with 90% and a gain of $10 with 10%. Even though this machine is profitable on average, the common bad outcomes wash out the rarer positive ones. As it turns out, for individuals who report very high positive affectivity this tendency does not emerge: they are not over-sensitive to frequent negative penalty. By contrast, in individuals with low affectivity this tendency is aggravated.Are there any major caveats? What questions still need to be addressed?The findings used a laboratory study with small monetary penalties. It would be interesting to examine whether these findings also bear on people’s behavior in naturally occurring settings. For instance, do happier people explore more – and is this the result of being able to tolerate the very frequent hurdles that exploration may bring with it?The study, “Unhappiness Intensifies the Avoidance of Frequent Losses While Happiness Overcomes It“, was also co-authored by Ariel Telpaz, Stas Krupenia, and Anat Rafaeli. Share on Twitter Our level of happiness can affect our willingness to withstand frequent monetary losses, according to new research published in Frontiers in Psychology.The two-part study of 250 college students used the Iowa gambling task to uncover that unhappy individuals tended to avoid choices that resulted in frequent but minor losses. Instead, unhappy individuals tended to opt for choices that resulted in larger but rarer losses. Happier individuals, on the other hand, tended to be more willing to tolerate frequent losses if they led to positive net outcomes.PsyPost interviewed the study’s corresponding author, Eldad Yechiam of the Israel Institute of Technology. Read his responses below: Sharecenter_img Email Share on Facebook Pinterestlast_img read more

Frustrated Lawyers R Us. Plan ‘B’ mutiny?

first_img‘The sun is out… the sky is blue… there’s not a cloud… to spoil the view… but it’s raining… (doodle doodle doom)… raining in my heart.’You may recognise the lyrics from a song. I’m referencing it in relation to how all you frustrated lawyers out there may be feeling right now. Whether you’re frustrated as hell about trying to get into the profession, or whether you’re in it and desperately depressed and you want to get the hell out… but feel stuck… this article’s for you. For some of you, it may feel like a tornado is whipping around inside that legal beagle heart of yours. I’ve just read in the Sunday Times (business section) last weekend that we’re in for a double dip as far as the economy and recession is concerned. And, the double-dip pessimist mongers say that ‘looking forward the wider economic picture is not so bright’. I’ve also been chatting and meeting with tomorrow’s lawyers and partners in law firms over the past couple of months and law student, associate, senior associate and barrister clients. It’s partly why I’ve been a wee bit quiet on the blog post scene of late – my apologies; some of you may of course be thinking ‘thank God’ – my ‘anonymous’ commentator fan club in particular. Bottom line… doom and gloom. The feeling is that there will be no boom for many years to come. I’ve probably made you feel like jumping off the proverbial crumbling ivory tower roof (or equivalent). Jeronimoooooooooo! But hey, don’t jump. Ever the eternal optimist I reckon there’s still hope. We just have to find the strength and courage to persevere. For a start, we shouldn’t believe everything we read or hear. So, you can choose to stop reading this article right now if you’re thinking I’m talking a load of blond bimbo utter tosh (or about to). I believe there is hope because we have choice. We have options. For example, if you can’t get through the ‘no training contract here for you’ brick wall, are struggling to duck around it by applying for a paralegal and/or legal executive position and having no success there either because law firms are hoarding any cash they have and are reluctant to take on more staff as the global economy faces continued uncertainty, then here’s an idea: go and do something else with your life. For now, at least. While the economy and legal world is struggling and desperately trying to find its feet again and get itself on an even keel. Reality check – there’s an obvious over supply of law students, an obvious under supply of training contracts available (and/or paralegal positions available) and a pool of highly qualified and skilled ‘give us a job’ lawyers already in the market who were ‘let go’ in 2008/9/10, ever hopeful of reclaiming a rowing position on the good ship legal enterprise. Taking another path may well mean less risk of racking up debt. After all, there is no guarantee you will make it as a lawyer and have a legal career at the end of it; some things may well be beyond your control. The saving grace is that there’s always the chance you can come to the law later in life (as many lawyers have, successfully). You may well find (like most people) that you will have more than one career during your working life. There’s a whole range of exciting career paths for an intelligent, hard-working, ambitious young person such as you. Remember, you are one of the top 5% in the world (as an educated budding professional). Even in a recession there are industries and niches doing rather well. Go seek and ye shall find… because it just may turn out that the dream you once believed as being the holy grail might actually turn out to be a paper cup. If you don’t believe me then go and talk to all those frustrated lawyers who remain in the industry and all those who have since left (out of choice). Whether you’re a paralegal, legal executive, assistant solicitor, associate solicitor, a senior associate, attorney, lawyer, partner or barrister you may well have already reached the point, mindset and realisation which Jim Rohn speaks of: ‘Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else’s hands, but not you.’ Being unhappy in your role/job/career is akin to being unhappy in your marriage. When you’ve reached the point that there’s more ‘bad’ than ‘good’ happening then you have to do something about it (for everyone’s sake). So, if you want out now because in your case the holy grail you may have once searched for and found has actually turned into a paper cup, then how about these ideas: 1) Become a virtual lawyer – if you’ve got the network, contacts, collaborative relationships, wherewithal, personal marketing skills, personal sales skills… and guts, then go do it; or 2) Be a portfolio worker (be a lawyer and something else at the same time), for example, Tim Kevan: barrister (non-practising at present), the Guardian law blogger, writer, author of Law and Disorder; Marci Alboher: lawyer, journalist, author and writing coach; Denise Nurse: lawyer and weather presenter (Sky News); Shireen Smith: lawyer, marketing & website business owner (sources: Director magazine October 2009 and NatWest Sense magazine 2009). It might continue to rain in your heart as far as your lawyering role is concerned but the sunny joy the other roles bestow might actually be worth the juggling act; or 3) Go start a business – hook up with an entrepreneur who will complement your skills and needs your connections, experience and level head. Together you could be a dynamic duo – the Batman & Robin of the new legal and business dynamic (although I suspect there could be a battle as to who drives the bat-mobile). 4) There are plenty of entrepreneurs desperate to have esteemed professionals on board, who, dare I say it, already have finance lined up – their own or somebody else’s – but need someone of your calibre and ability to add value to the team. I have also read and hear of late that there are also plenty of cash rich entrepreneurs (business angels) who would rather put their money behind a sound new business venture than invest it elsewhere in the present economic climate, as there’s a chance that the yield will provide a much better ROI than sticking it in a bank or dabbling in the plum duck stock markets. In my experience (as both a lawyer and an entrepreneur) some entrepreneurs have got all the ideas and whizzy gig oomph but no clue as to how to turn it into a viable business and make it work. They need you! It’s worth remembering that great companies were born out of previous recessions – such as LexisNexis, Microsoft and Dell. And many lawyers who left the profession have made a great success of their new ventures (and careers). Take a look at Philip Vecht. He’s made an absolute fortune hanging advertisements in toilets. Reported as ‘the lawyer who cleaned up with washroom adverts’ in the Sunday Times in January this year, Vecht began his career as a commercial lawyer at Nabarros. After two years he got out of the profession and co-founded Admedia. In Vecht’s own words ‘it was terrifying’. Surprisingly he wasn’t referring to making the leap of faith into his new venture… it was in reference to the toils and challenges of making the business work and if he failed he ‘thought (he) would have to go back to being a lawyer’. Turnover for 2010 is expected to be £7.5m. I believe the world could probably do with less lawyers lawyering and more lawyers working in and on a business. You never know, this way ahead might actually just help the world get out of this long tail recession. There’s already a plethora of lawyers in the world and a technological, digital, consumer sovereignty trend that will inevitably see the need, want and/or desire for even less. Problems on the job (or search for a legal job) could lead you to begin a search for something better. But it may well not be the time for impulsive action. Only you will know what’s right for you…where and when. When all is said and done, if it’s raining in your heart then you could do something about it. You have a choice. You could be master of your own mutiny. Of course, you will have to conduct a 360 degree personal talent, strengths, skills, knowledge, experience, fiscal, confidence and guts reality check. And an honest one at that. You’d be a fool not to. After all, if you’re going to walk the plank and jump into a stormy sea then you’d better have all the bits ‘n’ bobs in the life raft to ensure your survival. Otherwise, you just might drown! Do you have a plan B, C or D? I ask because I’ve always lived my life as such that I hope for the best but plan for the worst. ‘It pays to plan ahead. It wasn’t raining when Noah built the ark’ (anon). One final thought. There may well be a market and a viable business model in the concept of ‘Frustrated Lawyers R Us.’ I wonder who of you reading this article will actually act on this idea. If you do, please do let me know. I’d be delighted to hear about and witness your success first hand. In fact, I’d be honoured to swash-buckle alongside you in your personal mutiny Tally-ho! Chrissie Lightfoot is author of The Naked Lawyer eBook – a blueprint in how to get more sales.http://entrepreneurlawyer.co.uk/products-services/ebook For more In Business blogs go to http://lawgazette.co.uk/blogs/inbusinesslast_img read more

Robert Griffin III ‘Growing Each And Every Day’ per Coach Hue Jackson

first_imgGetting praised by a head coach always makes a player feel good. Cleveland Browns head coach Hue Jackson talked to NFL Network’s Mike Garafolo about quarterback Robert Griffin III and his progress. This is according to SBNation’s DawgsByNature.How is Robert progressing so far? What do you like, what don’t you like?“I think he’s growing each and every day. He’s starting to master the offense. He understands that there’s a lot of different hats that position wears. He’s done a good job of getting our players in-and-out of bad situations. He’s done a great job of taking care of the football. That’s what you have to do to play this game.”Just watching today, it looks like the ball is coming out pretty sharply. Do you agree with that? Do you like the zip on the ball?“He’s improved, there’s no question about that. He’s understanding that every day when you come out here, you’ve got to stay after it. It’s a grind in order to be good.”The Browns currently have a head coach who will announce the week 1 starter before the first preseason game. As of right now, RGIII looks ready to take over this team. Getting praised by Jackson should build even more confidence in the fourth-year quarterback.We will keep you up to date if any more information gets released. Go Browns! nbodnar1 Related TopicsCleveland BrownsRobert Griffin IIIlast_img read more

Cubs’ Joe Maddon set to learn fate in postgame meeting with Theo Epstein

first_img“Right now, you know what I’m excited about?” Maddon said before Friday’s series opener. “I’m going to get in that car and drive to our pad in Hazelton (Pa.), which is on this really cool little golf course, the Valley Country Club. My buddy Frankie’s the golf pro, And I do need some work, so he’ll be there to straighten my stuff out. My mom’s right down the street, so is my sister. Of course, (Maddon’s wife) Jaye’s going to be there. My buddy Willie’s going to stop by. I mean, come on, what’s better than that?”And if he is let go, as seems inevitable, he’ll have plenty of options to choose from this offseason.The Padres, Giants and Royals jobs are already open, and as many as five or six more managers could be let go at the end of the season. And it’s here, where Jack Buck became a broadcasting legend and broadcasting legend Harry Caray found his voice, that Maddon will learn his fate. The Cubs opted against extending Maddon’s contract after the 2018 season, despite the fact the franchise had made the playoffs in each of the deal’s first four years, had reached the NLCS three times and had won the 2016 World Series, the first one for the franchise since 1908. BERNSTEIN: Maddon should have good laugh if deluded Cubs let him walk”I mean, three trips into the CS,” Maddon said pregame Friday. “If you would have been guaranteed that in ’14 going into ’15 when we walked in the door, how would you feel about that? As a fan of the Cubs, how would you feel about that?”He continued, in typical Maddon fashion: “The mind, when stretched, has a difficult time going back to its original form. We’ve stretched the minds a bit, so now, fans are expecting more. Groovy, man. Go and expect it all.”But Epstein wanted to see how the 2019 season would play out before committing to Maddon, and, well, 2019 wasn’t great. Injuries and inconsistency and a down-the-stretch collapse all conspired to keep the Cubs out of the postseason for the first time in Maddon’s tenure.And so Maddon and Epstein will have a meeting somewhere in St. Louis to discuss the future. Maddon informed reporters of the meeting during his pregame interview session Saturday and Epstein confirmed it shortly after. “We’ll discuss everything moving forward, that kind of stuff,” Maddon said. “We haven’t had any kind of a talk about any of this. I mean that sincerely. We will tonight.” Maddon was asked if he thought there would be a resolution. “I hope so, yeah,” he said. “I’d like to believe so, yes.” Then he was asked if that resolution might be announced before Sunday’s game: “I have no idea,” he replied.MORE: Epstein shoots down talk of return to Red SoxWhat he does know, at least, is what he plans to do when he leaves St. Louis, whether that’s before the game Sunday or after.  ST. LOUIS — Chances are, when Joe Maddon and Theo Epstein meet after Saturday evening’s Cubs-Cardinals contest at Busch Stadium, they won’t split an Imo’s pizza, and a couple orders of toasted ravioli probably isn’t likely, either. Maybe a couple of ice-cold Budweisers would be appropriate, though, considering the agenda for the get-together. There is something symbolic about the most fateful meeting of Maddon’s tenure as the Cubs’ manager happening in St. Louis. When he was a young lad growing up in rural Pennsylvania, he became a Cardinals fan, listening to the games on KMOX’s powerful signal. last_img read more