Implications for the Economy

• What is meant by the term ‘peer review’?

  Evaluation of research by experts in the field
• Why is peer review important for psychological research?

  It ensures scientific credibility and quality
• What are the implications of psychological research for the economy?

  • Interpret findings in terms of value
  • Assess strengths and weaknesses for success
  • Understand behavior's impact on the economy
• How can reviewing psychological knowledge affect behavior in the economy?

  It clarifies positive or negative behavior impacts
• What is an example of a psychological intervention's economic impact?

  Enables return to work after mental illness
• How does psychological research on psychopathology affect the economy?

  It reduces lost tax revenues and incapacity costs
• What did Bowlby’s report in the 1950s suggest about babies?

  They need constant maternal care for development
• What later evidence contradicted Bowlby’s findings?

  Good substitute childcare does not harm development
• What is an implication of Bowlby’s findings for working mothers?

  Mothers can return to work without guilt
• What did Belsky (2009) find about fathers and attachment?

  Fathers can form secure attachments with infants
• How does Belsky's research impact modern parenting?

  Both parents can effectively raise children
• What is a societal implication of Belsky's findings?

  Parents can maximize household income together
• What did Soomro (2008) review about SSRIs?

  They are more effective than placebos for OCD
• What is an implication of effective treatments for OCD?

  Restores quality of life and work ability
• How do effective treatments for mental health disorders impact government costs?

  They reduce reliance on incapacity benefits
• What did Fisher (1989) examine in police interviews?

  The effectiveness of the Cognitive Interview (CI)
• What were the results of Fisher's study on CI?

  Trained detectives elicited 46% more information
• What is an implication of improved accuracy in eyewitness testimony (EWT)?

  Reduces wrongful arrests and court costs
• What book did Thaler and Sunstein publish in 2008?

  Nudge: improving decisions about health, wealth and happiness
• What concept did Thaler and Sunstein introduce in their book?

  Soft paternalism to influence better decisions
• What is an example of product placement to discourage junk food consumption?

  Placing junk food above eye level in stores
• How could psychological research on treating depression impact the economy?

  Improves workforce participation and productivity