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).
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.
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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Data scientists are in high demand, taking the coveted number 1 spot on Glassdoor's Best Jobs in America list in both 2016 and 2017. INFORMS is an international organization where those interested in exploring this field can seek out information about the profession as well as certification and training solutions.
A paper published last year in the INFORMS journal Management Science, which collected golfing records for more than 300 CEOs from S&P 1500 firms from 2008 to 2012, found that the more golf a CEO played, the more a firm’s performance and value decreased. When CEOs played at least 22 rounds in a year, they found, the mean return on assets was more than 100 basis points lower than for firms whose CEOs played golf less frequently.
Research done for the INFORMS journal Management Science, which involved analysis of 300 CEOs from S&P firms between 2008 and 2012 found … the more a CEO played golf, the more that firm’s value and performance dropped. If the CEO played at least 22 rounds a year, the mean return on assets was more than 100 basis points lower than for firms whose CEOs played golf less frequently.
The double- blind study, “The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading,” which was published in the INFORMS journal Management Science, gave either topical testosterone or a placebo to 140 young males and set them loose buying and selling financial assets to earn real money. The men who got the additional testosterone bought and sold more, created larger price bubbles, were prone to mis-pricing, and their perception of a stock’s value was skewed.
In a paper in the INFORMS journal Management Science called ‘The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading’, experts gave 140 young men an edible gel containing either a placebo or testosterone. The participants were then set an experimental task where they had to post bids and ask prices of assets, as well as buying and selling financial assets to earn money. The researchers found that among the group which received extra testosterone, larger price bubbles formed, there was more mispricing and their perception of a stock’s value changed dramatically.
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