News Room

A collection of press releases, audio content and media clips featuring INFORMS members and their research.

AI Thinks Like Us – Flaws and All: New Study Finds ChatGPT Mirrors Human Decision Biases in Half the Tests
News Release

BALTIMORE, MD, April 1, 2025 – Can we really trust AI to make better decisions than humans? A new study says … not always. Researchers have discovered that OpenAI’s ChatGPT, one of the most advanced and popular AI models, makes the same kinds of decision-making mistakes as humans in some situations showing biases like overconfidence of hot-hand (gambler’s) fallacy yet acting inhuman in others (e.g., not suffering from base-rate neglect or sunk cost fallacies).

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In 2025, you can’t have an effective democracy without data literacy
Media Coverage

You are swimming in an ocean of data and don’t even realize it. All around you are invisible amounts of data that would be staggering to try to comprehend. Thousands of smartphones and smart devices are talking to, sending and downloading vast amounts of data, video, audio, words, numbers, images, you name it. Everything from the latest movie on Netflix to someone’s radiology results from a cancer screening.

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Shell Shocked: How Small Eateries Are Dealing With Record Egg Prices
Media Coverage

Mom-and-pop businesses are trying to adapt to the soaring cost of eggs. The owners of four egg-centric restaurants across the country show how they are coping with this threat to their livelihoods.

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Resoundingly Human Podcast

An audio journey of how data and analytics save lives, save money and solve problems.

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INFORMS
Catonsville, MD
[email protected]
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Wall Street, finance is a matter of testosterone

Wall Street, finance is a matter of testosterone

Galileo, October 17, 2017

According to a new study in the INFORMS journal Management Science, the hectic world of Wall Street, dominated almost entirely by men, there is a strong link between male hormone, testosterone, and the way the shareholders manage business.

Studies suggest link between testosterone, stock market instability

Studies suggest link between testosterone, stock market instability

UPI, November 11, 2017

An international team of researchers recruited 140 young males to participate in experimental asset market simulation. Prior to the simulated trading period, the participants were given a topical gel containing testosterone or a placebo. The experiment's results - shared this week in the INFORMS journal Management Science - revealed more inflated price bubbles among markets inhabited by traders hopped up on testosterone.

What's the cause of stock market crashes? Too much testosterone, science says

What's the cause of stock market crashes? Too much testosterone, science says

Entrepreneur, November 11, 2017

The financial institutions that do work trading on the New York Stock Exchange are predominantly, perennially staffed by men. And now, a new study from the University of Western Ontario, University of Oxford and Claremont Graduate University, published in the INFORMS journal Management Science, has found that testosterone, the hormone found more so in men than in women, can be linked to the decisions that lead to stock market destabilization and crashes.

If Lehman Brothers had been called Lehman Sisters ... Research measured the dangerous effects of testosterone on the stock market

If Lehman Brothers had been called Lehman Sisters ... Research measured the dangerous effects of testosterone on the stock market

Business Insider Italia, November 11, 2017

According to a study published in the INFORMS journal Management Science, entitled The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading, testosterone contributes to fluctuations and in particular leads to overestimating values ​​and building dangerous bubbles and consequently leading to financial crackdowns.

The hidden cost of crime: Tanzanians pay as much as 7% to protect money from theft

The hidden cost of crime: Tanzanians pay as much as 7% to protect money from theft

News Release, November 13, 2017

CATONSVILLE, MD, November 13, 2017 – “Mobile money,” a checking account attached to a mobile phone number, has revolutionized the financial lives of millions of people in many developing countries without access to a banking infrastructure. Using text messages or apps on consumer phones and in partnership with mom-and-pop retailers, who serve as cash-in and cash-out points, telecom companies have created an accessible and cost-effective virtual banking infrastructure in many developing countries. 

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