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Psychology, Financial Decision Making, and Financial Crises
Full Text HTML (Available to the Public) Tommy Garling, Erich Kirchler, Alan Lewis, and Fred van Raaij How could the current financial crisis have happened? While fingers have been pointing to greedy banks, subprime-loan officers, and sloppy credit card practices, these are not the only contributors to the economic downturn. A new report examines the psychology of financial decision making, including the role of risk in making economic choices, how individuals behave in stock and credit markets, and how financial crises impact people's well-being. Risk taking is a very important component of financial decision making — If we take out a big loan, will we be able to pay it back?
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Celebrating 20 Years of Advancing Psychological Science
APS was founded in 1988 to advance scientific psychology. The vision of our founders was instrumental in making APS a success story and members have guided this effort with leadership, talent, and dedication. Twenty years later, APS continues as the most effective voice for psychological science. This special area of the website celebrates the last 20 years of APS history. Features include the Observer's "Then & Now" columns, a timeline of APS history, and much more. Check back regularly for updates -- we'll be adding new material all year. Observer Then & Now Columns Happy 20th to Us!
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The History of APS: A Timeline
In honor of the 20th Anniversary of APS, we have created a special area of the website devoted to celebrating the last 20 years of APS history. This section features an interactive timeline of APS history detailing the vision of our founders and the success story that is APS. 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 1988 August 12 - Following a failed attempt to reorganize the American Psychological Association to improve the status of science within the organization, members of the Assembly for Scientific and Applied Psychology (ASAP) vote to become the American Psychological Society. The vote is a resounding 419 to 13.
