Erik Eriksen is a remarkable individual. He has no college degrees yet is Professor of Human Development at Harvard University. He came to psychology via art, which explains why the reader will find him painting contexts and backgrounds rather than stating dull facts and concepts. He has been a training psychoanalyst for many years as well as a perceptive observer of cultural and social settings and their effect on growing up. This is not just a book on childhood. It is a panorama of our society. Anxiety in young children, apathy in American Indians, confusion in veterans of war, and arrogance in young Nazis are scrutinized under the psychoanalytic magnifying glass. The material is well written and devoid of technical jargon. The theme of the volume is that it is human to have a long childhood which will leave a lifelong residue of emotional immaturity in man. Primitive groups and

Childhood and Society.

We propose a theory of securities market under- and overreactions based on two well-known psychological biases: investor overconfidence about the precision of private information; and biased self-attribution, which causes asymmetric shifts in investors’ confidence as a function of their investment outcomes. We show that overconfidence implies negative long-lag autocorrelations, excess volatility, and, when managerial actions are correlated with stock mispricing, public-event-based return predictability. Biased self-attribution adds positive short-lag autocorrelations ~“momentum”!, short-run earnings “drift,” but negative correlation between future returns and long-term past stock market and accounting performance. The theory also offers several untested implications and implications for corporate financial policy. IN RECENT YEARS A BODY OF evidence on security returns has presented a sharp challenge to the traditional view that securities are rationally priced to ref lect all publicly available information. Some of the more pervasive anomalies can be classified as follows ~Appendix A cites the relevant literature!: 1. Event-based return predictability ~public-event-date average stock returns of the same sign as average subsequent long-run abnormal performance! 2. Short-term momentum ~positive short-term autocorrelation of stock returns, for individual stocks and the market as a whole!

/pdf/investor-psychology-and-security-market-under-and-108faczcym.pdf

Investor Psychology and Security Market Under- and Overreactions

We propose a theory of securities market under- and overreactions based on two well-known psychological biases: investor overconfidence about the precision of private information; and biased self-attribution, which causes asymmetric shifts in investors' confidence as a function of their investment outcomes. We show that overconfidence implies negative long-lag autocorrelations, excess volatility, and, when managerial actions are correlated with stock mispricing, public-event-based return predictability. Biased self-attribution adds positive short-lag autocorrelations (momentum), short-run earnings drift, but negative correlation between future returns and long-term past stock market and accounting performance. The theory also offers several untested implications and implications for corporate financial policy. 
Prepublication version available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2017

Presentation Slides for 'Investor Psychology and Security Market Under and Overreactions'

Theory and research in both personality psychology and creativity share an essential commonality: emphasis on the uniqueness of the individual. Both disciplines also share an emphasis on temporal consistency and have a 50-year history, and yet no quantitative review of the literature on the creative personality has been conducted. The 3 major goals of this article are to present the results of the first meta-analytic review of the literature on personality and creative achievement, to present a conceptual integration of underlying potential psychological mechanisms that personality and creativity have in common, and to show how the topic of creativity has been important to personality psychologists and can be to social psychologists. A common system of personality description was obtained by classifying trait terms or scales onto one of the Five-Factor Model (or Big Five) dimensions: neuroticism, extraversion, openness, agreeableness, and conscientiousness. Effect size was measured using Cohen's d (Cohen, 1988). Comparisons on personality traits were made on 3 sets of samples: scientists versus nonscientists, more creative versus less creative scientists, and artists versus nonartists. In general, creative people are more open to new experiences, less conventional and less conscientious, more self-confident, self-accepting, driven, ambitious, dominant, hostile, and impulsive. Out of these, the largest effect sizes were on openness, conscientiousness, self-acceptance, hostility, and impulsivity. Further, there appears to be temporal stability of these distinguishing personality dimensions of creative people. Dispositions important to creative behavior are parsed into social, cognitive, motivational, and affective dimensions. Creativity like most complex behaviors requires an intra- as well as interdisciplinary view and thereby mitigates the historically disciplinocentric attitudes of personality and social psychologists.

A Meta-Analysis of Personality in Scientific and Artistic Creativity

Objective: Epidemiological studies indicate that experimentation with addictive drugs and onset of addictive disorders is primarily concentrated in adolescence and young adulthood. The authors describe basic and clinical data supporting adolescent neurodevelopment as a biologically critical period of greater vulnerability for experimentation with substances and acquisition of substance use disorders. Method: The authors reviewed recent literature regarding neurocircuitry underlying motivation, impulsivity, and addiction, with a focus on studies investigating adolescent neurodevelopment. Results: Adolescent neurodevelopment occurs in brain regions associated with motivation, impulsivity, and addiction. Adolescent impulsivity and/or novelty seeking as a transitional trait behavior can be explained in part by maturational changes in frontal cortical and subcortical monoaminergic systems. These developmental processes may advantageously promote learning drives for adaptation to adult roles but may also confer greater vulnerability to the addictive actions of drugs. Conclusions: An exploration of developmental changes in neurocircuitry involved in impulse control has significant implications for understanding adolescent behavior, addiction vulnerability, and the prevention of addiction in adolescence and adulthood.

/pdf/developmental-neurocircuitry-of-motivation-in-adolescence-a-13aw97d4bw.pdf

Developmental Neurocircuitry of Motivation in Adolescence: A Critical Period of Addiction Vulnerability

AnitaWoolfolkHoyreceivedherBAinPsychologyin1969andherPhDin Educational Psychology both from the University of Texas at Austin. Sheworked brieﬂy as a school psychologist in Texas, and then joined the facultyinDepartmentofEducationalPsychologyoftheGraduateSchoolofEduca-tion at Rutgers University in 1979. She remained there until 1993 and servedas Chair of the department from 1990 to 1993. Presently, she is a Professorin the College of Education at The Ohio State University. Her professionalofﬁces include Vice-President for Division K (Teaching and Teacher Edu-cation) of the American Educational Research Association and Presidentof Division 15 (Educational Psychology) of the American Psychological As-sociation. She has published research in the areas of student perceptions ofteachers, teachers’ beliefs, student motivation, and the application of educa-tional psychology to teaching. Her text,

An Interview with Anita Woolfolk: The Educational Psychology of Teacher Efficacy

p53 mutations are the most common genetic alterations found in human malignancies. However current estimates of p53 alterations in cancers may be inaccurate because there is evidence that current approaches do not detect all p53 alterations. In this study we determine the status of the p53 gene by complete DNA sequencing of exons 2 through 11 as well as immunohistochemical staining in cohorts of primary human breast, ovarian and non small cell lung cancer. Overall, 24 of 93 (26%) breast cancers, 62 of 108 (57%) ovarian cancers and 88 of 154 (57%) non small cell lung cancers contained DNA sequence mutations, whereas positive immunohistochemical staining was detected in 15 of 64 (23%) breast, 35 of 94 (37%) ovarian, and 63 of 137 (46%) lung cancers. Of those tumors that contained mutations, the mutation occurred outside the 'hot-spot' region in 19% of breast, 18% of ovarian and 17% of lung tumors, indicating that a substantial number of mutations remain undetected in studies that are restricted to exons 5 through 9. We observed a high concordance between the presence of p53 missense mutations and positive immunohistochemical staining, but a poor concordance between other types of mutations and staining in all three types of malignancies. We conclude that a combination of DNA sequence analysis of exons 2 through 11 and immunohistochemical staining are required to detect all known alterations in the p53 gene in human malignancies.

DNA sequence analysis of exons 2 through 11 and immunohistochemical staining are required to detect all known p53 alterations in human malignancies.

(1998). An Interview with Rita Dunn about Learning Styles. The Clearing House: A Journal of Educational Strategies, Issues and Ideas: Vol. 71, No. 3, pp. 141-145.

An Interview with Rita Dunn about Learning Styles

An Interview with E. Paul Torrance: About Creativity

Richard E. Mayer is professor of psychology at the University of California, Santa Barbara (UCSB), where he has served since 1975. He received a Ph.D. in psychology from the University of Michigan, in 1973, and served as visiting assistant professor of psychology at Indiana Univer sity, from 1973 to 1975. He is past-president of the Division of Educational Psychology of the American Psychological Association, former editor of Educational Psychologist and former co-editor of Instructional Science, for mer chair of the UCSB Department of Psychology, and the year 2000 re cipient of the E. L. Thorndike Award for career achievement in educa tional psychology. He was ranked #1 as the most productive researcher in the field of educational psychology for 1991-2001 (Contemporary Ed ucational Psychology, Vol. 28, pp. 422-430). Prof. Mayer is the author of 18 books and more than 250 articles and chapters, including The Promise of Educational Psychology: Vols. 1 and 2 (1999, 2002), Multimedia Learning, (2001), Learning and Instruction (2003), and E-Learning and the Science of Instruction (with R. Clark, 2003). He serves on the editorial boards of 11 journals mainly in educational psychology. For the past 35 years he has conducted research on how instructional methods affect learning, and in the past 15 years, his research has focused on multimedia learning. In this interview, he discusses his current research agenda concerning multimedia learning and responds to critical questions regarding web-based instruction and the nature of educational research.

Michael F. Shaughnessy

Papers

An Interview with Anita Woolfolk: The Educational Psychology of Teacher Efficacy

DNA sequence analysis of exons 2 through 11 and immunohistochemical staining are required to detect all known p53 alterations in human malignancies.

An Interview with Rita Dunn about Learning Styles

An Interview with E. Paul Torrance: About Creativity

An Interview with Richard Mayer