Does uncertainty cause inertia in decision making? An experimental study of the role of regret aversion and indecisiveness

Previous research has shown that often there is clear inertia in individual decision making---that is, a tendency for decision makers to choose a status quo option. I conduct a laboratory experiment to investigate two potential determinants of inertia in uncertain environments: (i) regret aversion and (ii) ambiguity-driven indecisiveness. I use a between-subjects design with varying conditions to identify the effects of these two mechanisms on choice behavior. In each condition, participants choose between two simple real gambles, one of which is the status quo option. I find that inertia is quite large and that both mechanisms are equally important.

Rearrangement of the urban space in the sector of Saint Victorino and Saint Ines (Bogota) in relation with the dynamics of informality and marginality (1948-2010)

The present article analyze the urban transformations happened in the sector of Saint Victorino and Saint Ines in the city of Bogota D.C. between 1948 and 2010, making use of the "Genealogical Methodology" during the process of inquiry that allow to contrast the visions that are usually accepted of "progress" and "urban renovation" in the urban market context by the existence of a informal economic and a population in conditions of marginality that configures a good part of the "popular urban culture" of the Bogota in the 20th and 21st century. This vision permit to observe from various perspectives the changes that happened in this sector of the city, the impacts of the history facts occurred en this time period and, in special, the real effects of a rearrangement urban process that began in 1998 and has been prolonged to date, which has left a significant mark about the urban and social physiognomy of the place.