Culture and World Vision: The Cognitive Mythical Mode

Culture is the system of knowledge, from whose meanings the human being screened and selected their understanding of Reality in the broad sense, and interprets and regulates the facts and data of social behavior. In this sense, culture is a program for social action and acting in humans during the process of socialization and social interaction. The meanings of each culture are the cumulative product of collective and individual thinking, in ecological economic, social and political specific situations, so are the expression of each particular cultural historical conjuncture. Moreover, the universal cognitive structure for the apprehension of cultural reality is the World Vision (WV). Due to its importance and significance as substratum of religious and political belief systems, we will gird our study to mythical cognitive mode or mythical WV.

Is financial instability male-driven? Gender and cognitive skills in experimental asset markets

The hypothesis that price stability would reliably increase with the fraction of women operating in financial markets has been frequently suggested in policy discussions. To test this hypothesis we conducted 10 male-only, 10 female-only and 10 mixed-gender experimental asset markets, and compared the effects of gender composition, confidence, risk attitude and cognitive skills. Male and female markets have comparable volatility and deviations from fundamentals, whereas mixed-gender markets are substantially more stable. On the other hand, higher average cognitive skills of the group are associated with reduced market volatility. Individual-level analysis shows that subjects with higher cognitive skills trade at prices closer to fundamental values and earn significantly higher profits; similarly, mixed markets exhibit lower mispricing, particularly for traders with lower cognitive skills. Our results are demonstrated to hold in other experimental asset market studies, suggesting that a mixed-gender composition reduces mispricing across different types of asset markets.