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The theory of planned behavior (TPB) is widely utilized in the field of household financial behavior research. This theory helps to understand and predict various financial decisions and behaviors, including investment choices, debt management, mortgage use, cash, saving, and credit management.
In the late 1970s and early 1980s, Fishbein and Ajzen expanded expectancy–value theory into the theory of reasoned action (TRA). Later Ajzen posited the theory of planned behavior (TPB) in his book Attitudes, Personality, and Behavior (1988). Both TRA and TPB address predictive and explanatory weaknesses with EVT and are still prominent ...
A positivistic approach to behavior research, TRA attempts to predict and explain one's intention of performing a certain behavior.The theory requires that behavior be clearly defined in terms of the four following concepts: Action (e.g. to go, get), Target (e.g. a mammogram), Context (e.g. at the breast screening center), and Time (e.g. in the 12 months). [7]
Icek Ajzen (born 1942, Chełm, Poland) is a social psychologist and professor emeritus at the University of Massachusetts Amherst.He received his doctorate from the University of Illinois at Urbana–Champaign, and is best known for his work, with Martin Fishbein, on the theory of planned behavior. [1]
Predicted outcome value theory is an alternative to uncertainty reduction theory, which Charles R. Berger and Richard J. Calabrese introduced in 1975. Uncertainty reduction theory states that the driving force in initial interactions is to collect information to predict attitudes and behaviors for future relationship development.
Throughout his career, Karlin made fundamental contributions to the fields of mathematical economics, bioinformatics, game theory, evolutionary theory, biomolecular sequence analysis, and total positivity. [4] Karlin authored ten books and more than 450 articles. He did extensive work in mathematical population genetics.
Predictive modelling uses statistics to predict outcomes. [1] Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect crimes and identify suspects, after the crime has taken place. [2]
Reference class forecasting is so named as it predicts the outcome of a planned action based on actual outcomes in a reference class of similar actions to that being forecast. Discussion of which reference class to use when forecasting a given situation is known as the reference class problem.