Illusory correlation in the remuneration of chief executive officers: It pays to play golf, and well

Illusory correlation refers to the use of information in decisions that is uncorrelated with the relevantcriterion. We document illusory correlation in CEO compensation decisions by demonstrating thatinformation, that is uncorrelated with corporate performance, is related to CEO compensation. We usepublicly available data from the USA for the years 1998, 2000, 2002, and 2004 to examine the relationsbetween golf handicaps of CEOs and corporate performance, on the one hand, and CEO compensationand golf handicaps, on the other hand. Although we find no relation between handicap and corporateperformance, we do find a relation between handicap and CEO compensation. In short, golfers earnmore than non-golfers and pay increases with golfing ability. We relate these findings to the difficultiesof judging compensation for CEOs. To overcome this and possibly other illusory correlations inthese kinds of decisions, we recommend the use of explicit, mechanical decision rules.

An economic theory of church strictness

This paper makes several contributions to the growing literatureon the economics of religion. First, we explicitly introduce spatial-location models into the economics of religion. Second, we offer a newexplanation for the observed tendency of state (monopoly) churches tolocate toward the "low-tension" end of the "strictness continuum" (ina one-dimensional product space): This result is obtained through theconjunction of "benevolent preferences" (denominations care about theaggregate utility of members) and asymmetric costs of going to a moreor less strict church than one prefers.We also derive implications regarding the relationship between religiousstrictness and membership. The driving forces of our analysis, religiousmarket interactions and asymmetric costs of membership, high-light newexplanations for some well-established stylized facts. The analysis opensthe way to new empirical tests, aimed at confronting the implications ofour model against more traditional explanations.

APOE status modulates the changes in network connectivity induced by brain stimulation in non-demented elders.

Behavioral consequences of a brain insult represent an interaction between the injury and the capacity of the rest of the brain to adapt to it. We provide experimental support for the notion that genetic factors play a critical role in such adaptation. We induced a controlled brain disruption using repetitive transcranial magnetic stimulation (rTMS) and show that APOE status determines its impact on distributed brain networks as assessed by functional MRI (fMRI).Twenty non-demented elders exhibiting mild memory dysfunction underwent two fMRI studies during face-name encoding tasks (before and after rTMS). Baseline task performance was associated with activation of a network of brain regions in prefrontal, parietal, medial temporal and visual associative areas. APOE ε4 bearers exhibited this pattern in two separate independent components, whereas ε4-non carriers presented a single partially overlapping network. Following rTMS all subjects showed slight ameliorations in memory performance, regardless of APOE status. However, after rTMS APOE ε4-carriers showed significant changes in brain network activation, expressing strikingly similar spatial configuration as the one observed in the non-carrier group prior to stimulation. Similarly, activity in areas of the default-mode network (DMN) was found in a single component among the ε4-non bearers, whereas among carriers it appeared disaggregated in three distinct spatiotemporal components that changed to an integrated single component after rTMS. Our findings demonstrate that genetic background play a fundamental role in the brain responses to focal insults, conditioning expression of distinct brain networks to sustain similar cognitive performance.

Personality traits and psychopathology predict burnout symptoms after two years in a sample of Catalan police officers

The operational aspects of psychological assessment are well documented (e.g. Murphy and Davidshofer, 1994). Essentially, the process involves the administration of one or more valid psychological tests in order to assess a person’s suitability to a task or situation. The resulting data and report are then used by police psychologists to assist in determining the suitability of the applicant for police duties. In Catalunya, this task is carried out during basic training for police career agent in the evaluation of psychological conditions for the use of the weapon. Police work can be one of the most stressful jobs, and it frequently leads to the development of burnout syndrome. In their day-to-day tasks, police officers are constantly subjected to various stressors (de la Fuente, Aguayo, Vargas and Cañadas, 2013). The most widely accepted definition of the burnout syndrome is one that describes it as a response to chronic work stress made up of three components: emotional exhaustion, depersonalisation and low personal accomplishment (Maslach & Jackson, 1981). Some studies showed that personality characteristics, and positive and negative affectivity explained significant variance in each of the burnout dimensions (Alarcon, Eschleman and Bowling, 2009).

Elders and the ITCs use to communicate with children and grandchildren

Past research in using ICTs (Information and Communication Technologies) in interpersonal communication showed that age plays an important role. There is a general assumption that the elderly are left behind regarding the adoption and the use of ICTs. Furthermore, elders tend to use ICTs mainly for instrumental purposes and the use is rather non-sophisticated. When elders are using ICTs to maintain their social network, similar patterns could be found: They start using internet, or intensify its use, when their children move abroad while they might decrease using the tool if the motivation ends. In this research we explore elders' incentives to go online and use internet services to communicate; the type of agencies they use to communicate with children and grandchildren abroad; and the situations that make them stop using the ICTs or even reject internet mediated communications. We base our discussion on the empirical evidence the two authors gathered in different cities and countries: Barcelona, Romania, Toronto, Los Angeles, Montevideo and Lima, through semi-structured interviews and observation, with people aged 60 years old and over. The results show that the ability for using ICT tools in an autonomous way is a better explanation than age. In this, we distinguish between assisted users and autonomous users. We found that oldest seniors and those seniors who are less socially active are more likely to be assisted users than those who are socially or professionally active. For them communication with their children and grandchildren abroad follows no agency or it is mediated by significant others from their local social network, who are able to use ICTs and select specific information to share, in the second step, with the elder. For some younger participants the use of ICTs is rather situational and imposed by their children or grandchildren, who installed the tool in the first place and assisted them in using it. Finally, other elders describe a proficient and independent use of ICTs so they use the devices and services the way they want to.We discuss the implications of the patterns in using ICTs, for elders' social life and their relationships with children and grandchildren. First, we emphasis the fact that those elders rejecting the ICTs or being unskilled in using them to communicate might be left out from their family circle, particularly when children are abroad -they would experience more isolation. Second, we underline the fact that when children and grandchildren are the ones that control the ICTs used by their parents and grandparents, they are controlling also the information flow and this will redefine the power relations between elders and their younger relatives.