The Impact of Initial Information Ambiguity on the Accuracy of Analytical Review Judgments

2012 ◽  
Author(s):  
Benjamin L. Luippold ◽  
Thomas Kida
Keyword(s):  
Initial Information ◽  
Analytical Review ◽  
Information Ambiguity ◽  
The Impact

The Impact of Initial Information Ambiguity on the Accuracy of Analytical Review Judgments

2012 ◽  
Vol 31 (2) ◽  
pp. 113-129 ◽  
Author(s):  
Benjamin L. Luippold ◽  
Thomas E. Kida
Keyword(s):  
Financial Data ◽  
Data Availability ◽  
Data Set ◽  
Judgment Accuracy ◽  
Initial Information ◽  
Information Set ◽  
Analytical Review ◽  
Analytical Procedures ◽  
Information Ambiguity ◽  
The Impact

SUMMARY Analytical procedures require that auditors develop and test hypotheses about possible fluctuations in a firm's financial data. Research in psychology suggests that the initial information ambiguity that exists prior to hypothesis generation may affect not only the initial hypothesis set, but also final judgment accuracy. We argue in this paper that information ambiguity can be caused by two primary variables, data sufficiency and data complexity, and examine how these variables affect judgment accuracy during analytical review. Ninety-four staff auditors completed analytical procedures for a company with an error seeded into its financial statements. Information ambiguity was varied across three levels by manipulating both the sufficiency and complexity of the data (insufficient/complex, sufficient/complex, and sufficient/not complex). Participants generated hypotheses that might explain the observed fluctuations in the data, then received a comprehensive financial data set (that was identical for all groups) and were asked to identify the cause of the fluctuations. The results indicate that when auditors are initially exposed to more ambiguous information (either due to its insufficiency or complexity), they are less likely to ultimately identify the error causing the fluctuations, even though they have access to the same unambiguous information set prior to making their final judgments. Implications of these results for audit research and practice are discussed. Data Availability: Contact the authors.

Decision Aids for Generating Analytical Review Alternatives: The Impact of Goal Framing and Audit-Risk Level

2002 ◽  
Vol 14 (1) ◽  
pp. 157-177 ◽  
Author(s):  
Jennifer M. Mueller ◽  
John C. Anderson
Keyword(s):  
High Risk ◽  
Cognitive Load ◽  
Information Search ◽  
Decision Aid ◽  
Decision Aids ◽  
Risk Level ◽  
Audit Risk ◽  
Goal Framing ◽  
Analytical Review ◽  
The Impact

An auditor generating potential explanations for an unusual variance in analytical review may utilize a decision aid, which provides many explanations. However, circumstances of budgetary constraints and limited cognitive load deter an auditor from using a lengthy list of explanations in an information search. A two-way between-subjects design was created to investigate the effects of two complementary approaches to trimming down the lengthy list on the number of remaining explanations carried forward into an information search. These two approaches, which represent the same goal (reducing the list) but framed differently, are found to result in a significantly different number of remaining explanations, in both low- and high-risk audit environments. The results of the study suggest that the extent to which an auditor narrows the lengthy list of explanations is important to the implementation of decision aids in analytical review.

Clinical epidemiology in complementary medicine (discussion)

2021 ◽  
pp. 465-474
Author(s):  
Yuriy Olegovich Novikov ◽  
Mikhail Borisovich Tsykunov ◽  
Ayrat Rafikovich Shayakhmetov
Keyword(s):  
Complementary Medicine ◽  
Clinical Epidemiology ◽  
Response To Treatment ◽  
Evidence Based ◽  
New Paradigm ◽  
Treatment And Prevention ◽  
Healthcare It ◽  
Analytical Review ◽  
Based Medicine ◽  
The Impact

The article presents an analytical review of the literature on the application of the principles of evidence-based medicine in modern healthcare. It is noted that in some areas of medicine, scientifically based standards of treatment significantly fall behind the general trends. Complementary medicine, including osteopathy, is an important healthcare resource, the use of which is officially recognized in 94 countries around the world. However, despite certain achievements in the treatment and prevention of many chronic diseases, there are scientific articles that criticize its effectiveness. Therefore, the relevance of obtaining new, strictly evidence-based data on the impact of osteopathy on health is beyond doubt. For osteopathy, as for other types of complementary medicine, a new paradigm of evidence-based clinical research is probably needed. Three types of the organism response to treatment — instant, fast and delayed — are identified.

scholarly journals Heuristics, biases and traps in managerial decision making

2013 ◽  
Vol 61 (7) ◽  
pp. 2117-2122
Author(s):  
Peter Gál ◽  
Miloš Mrva ◽  
Matej Meško
Keyword(s):  
Decision Making ◽  
Systematic Errors ◽  
Small Samples ◽  
Evidence Based ◽  
Managerial Decision ◽  
Initial Information ◽  
Representativeness Heuristic ◽  
Starting Point ◽  
The World ◽  
The Impact

The aim of the paper is to demonstrate the impact of heuristics, biases and psychological traps on the decision making. Heuristics are unconscious routines people use to cope with the complexity inherent in most decision situations. They serve as mental shortcuts that help people to simplify and structure the information encountered in the world. These heuristics could be quite useful in some situations, while in others they can lead to severe and systematic errors, based on significant deviations from the fundamental principles of statistics, probability and sound judgment. This paper focuses on illustrating the existence of the anchoring, availability, and representativeness heuristics, originally described by Tversky & Kahneman in the early 1970’s. The anchoring heuristic is a tendency to focus on the initial information, estimate or perception (even random or irrelevant number) as a starting point. People tend to give disproportionate weight to the initial information they receive. The availability heuristic explains why highly imaginable or vivid information have a disproportionate effect on people’s decisions. The representativeness heuristic causes that people rely on highly specific scenarios, ignore base rates, draw conclusions based on small samples and neglect scope. Mentioned phenomena are illustrated and supported by evidence based on the statistical analysis of the results of a questionnaire.

scholarly journals Respon Awal Petani, Nelayan, dan Usaha Mikro, Terhadap Bantuan COVID-19

2021 ◽  
Vol 8 (1) ◽  
pp. 8
Author(s):  
Crisanty Sutristyaningtyas Titik ◽  
Ris Yuwono Yudo Nugroho
Keyword(s):  
Social Service ◽  
Qualitative Approach ◽  
Business Sector ◽  
Initial Information ◽  
Pandemic Response ◽  
Strategic Capabilities ◽  
The Impact

In general, research proposes to assess the Covid-19 Response Program's implementation based on the receiver community's perceptions. A qualitative approach is used to study and interpret the meaning of an individual or group of people. Respondents were selected purposively in three districts in East Java, namely Lamongan, Bangkalan, and Gresik. The following is a brief conclusion that: (1) initial information is clear enough; thus, the process of obtaining assistance is simple, and the requirements that must be met are also pleased, (2) implementation of pandemic response assistance has been running, and social service has been running before, and (3) impact of the pandemic community income depends on the type of business, its scale, and its strategic capabilities. Initial indications that the micro-business sector is more vulnerable to the impact of the pandemic

Socio-humanitarian framework for evaluating innovations in the field of artificial intelligence

2021 ◽  
Vol 6 ◽  
Author(s):  
A.N. Raikov ◽  
Keyword(s):  
Artificial Intelligence ◽  
Digital Technologies ◽  
Social Consequences ◽  
Value Orientations ◽  
Scientific Publications ◽  
Main Emphasis ◽  
The Social ◽  
Social Value Orientations ◽  
Analytical Review ◽  
The Impact

The paper addresses the issue of identification the social and humanitarian grounds for constructing criteria for assessing the impact of various factors on the development of innovations using artificial intelligence (AI) technologies. The analysis of basic concepts, standards and criteria for evaluating innovations has been carried out; an analytical review of foreign scientific publications was made. It is shown that modern systems for assessing innovations related to digital technologies and AI place the main emphasis on technological factors in the development of innovations. Social value orientations, including defining the ethical dimensions and social consequences of the malicious use of AI was identified; the analysis of innovation models in the context of quality management and differentiation of semantics of AI models is carried out. As a result, a classification of various types of AI was constructed, taking into account the social and humanitarian grounds for constructing criteria for assessing the impact of various factors on the development of innovations in the field of AI. It allows to increase the reputation potential of companies developing AI systems and AI systems themselves, to counter negative trends in the field of ethics associated with the use of digital technologies and AI.

The antecedents and consequences of financial literacy: a meta-analysis

2019 ◽  
Vol 37 (6) ◽  
pp. 1462-1479 ◽  
Author(s):  
Fernando De Oliveira Santini ◽  
Wagner Junior Ladeira ◽  
Frederike Monika Budiner Mette ◽  
Mateus Canniatti Ponchio
Keyword(s):  
Financial Literacy ◽  
Meta Analysis ◽  
Future Research ◽  
Cultural Economic ◽  
Content Type ◽  
Credit Score ◽  
Analytical Review ◽  
Financial Behaviour ◽  
Antecedents And Consequences ◽  
The Impact

Purpose The purpose of this paper is to determine the antecedents and consequences of financial literacy by using meta-analytic techniques. Design/methodology/approach The authors conducted a meta-analysis of 44 valid studies, which generated a total of 690 observations (effect sizes). Findings The findings showed that the factors influencing financial literacy were as follows: educational level, financial attitude, financial knowledge, financial behaviour, gender, household income and investments. The consequences of financial literacy were the behaviour of incurring avoidable credit and checking fees, credit score, and the willingness to take investment risks. The authors also find some methodological, cultural, economic and theoretical moderations effects between financial literacy and antecedent/consequent constructs. Research limitations/implications This meta-analysis reviewed the relationships found worldwide in the literature on financial literacy. The authors also identified new avenues for future research. Some specific limitations, such as the non-use of qualitative studies, are registered. Originality/value This research tested the impact of the antecedents, consequences and moderators of financial literacy via a meta-analytical review. This meta-analysis contributes to the marketing and financial literature by offering a set of empirical generalisations about the direct and moderation effects investigated.

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