1/ Polarizing impact of science literacy and numeracy on perceived climate change risks (Kahan et al.)

"Those with the most science literacy & reasoning capacity were not most concerned about climate change; they were the group w/ the most polarization."

nature.com/articles/nclim…
2/ Sample of 1540 U.S. citizens

"We instructed subjects to rate the seriousness of climate change risk."

SCT = Science Comprehension Thesis: "Members of the public do not know/think as scientists; they fail to take climate change as seriously as scientists believe they should."
3/ CCT = Cultural Cognition Thesis: "Individuals tend to form perceptions of societal risks that cohere with values characteristic of groups with which they identify. Members are motivated to fit their interpretations of scientific evidence to competing cultural philosophies."
4/ "As respondents' science-literacy scores increased, concern w/ climate change decreased (p=0.05). There was also a negative correlation between numeracy & climate risk (p<0.01).

"Differences were small but inconsistent with SCT, which predicts effects w/ the opposite signs."
5/ "Our data, consistent with previous studies, supported CCT's prediction.

"Hierarchical individualists (subjects scoring in the top half on both the Hierarchy & Individualism worldview scales) rated climate change risks significantly lower than did egalitarian communitarians.
6/ "Even controlling for scientific literacy and numeracy, both Hierarchy (p<0.01) and Individualism (p<0.01) predicted less concern over climate change."
7/ "These findings were consistent with previous ones showing that climate change has become highly politicized. Worldview & political orientation are modestly correlated. Nevertheless, the impact of worldview on climate change risk perceptions cannot be reduced to partisanship."
8/ "The difference in respective perceptions of climate change risk significantly exceeded what political-orientation measures alone would predict for individuals who identify themselves as conservative Republicans and liberal Democrats."
9/ "Polarization becomes larger as science literacy & numeracy increase.

"As the contribution that culture makes to disagreement grows as literacy & numeracy increase, it is not plausible to view cultural cognition as a substitute for capacities SCT views the public as lacking."
10/ "To test the generality of this conclusion, we also analyzed subjects' perceptions of nuclear-power risks. Egalitarian communitarians and hierarchical individualists were again polarized. Here, too, the gap between became larger as scientific literacy and numeracy increased."
11/ "If beliefs about a societal risk come to bear meanings congenial to some cultural outlooks but hostile to others, individuals will fail to converge, or at least fail to converge as rapidly as they should, on scientific information essential to their common interests.
12/ "Simply improving clarity of scientific information will not dispel conflict so long as debate features cultural meanings that divide citizens of opposing worldviews.

"Communicators should endeavor to create a deliberative climate that does not threaten any group's values."
13/ Related reading

Supplementary Information for this paper
static-content.springer.com/esm/art%3A10.1…

Is Newspaper Coverage of Economic Events Politically Biased?


Media Slant is Contagious


Expert Political Judgment

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Darren 🥚 🐣 🕊️

Darren 🥚 🐣 🕊️ Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ReformedTrader

3 Jul
1/ Retail Bond Investors and Credit Ratings (deHaan, Li, Watts)

"Retail investors appear to select bonds by first screening on a credit rating level, then sorting by yield. They systematically trade in the opposite direction of accounting fundamentals."

papers.ssrn.com/sol3/papers.cf… Image
2/ "Ratings are known to lag observable fundamentals & prices and can be biased due to ratings agencies' incentive conflicts, so investors have good reasons *not* to use ratings.

"At least two major online brokers' bond search tools allow investors to screen on credit ratings." Image
3/ "Formal discontinuity tests confirm the buy-sell imbalance break across the investment-grade cutoff.

"Our tests indicate that retail investors seem to use rating levels at least as a starting point for making bond trading decisions and generally prefer safer-rated bonds." Image
Read 22 tweets
2 Jul
1/ The Wealthy Renter: How to Choose Housing That Will Make You Rich (Alex Avery)

"As the biggest expense of our lives, how well we manage the cost of our housing has a greater impact on our cost of living than any other factor." (p. 7)

amazon.com/Wealthy-Renter…
2/ "Our housing choices determine how long it takes to get to work, how much time we spend with friends and family, where our kids will go to school, how well we do our jobs, how much money we have for other things (travel, cars, clothes, jewellery, electronics, & collectibles).
3/ "It’s the biggest factor in when/how we retire.

"We’re conditioned to want beautiful places to live. Homeownership is aggressively marketed. Pro–home ownership policy is so pervasive that it has become part of the fabric of our society. It’s enmeshed in our belief system.
Read 29 tweets
2 Jul
Rob Carver (@investingidiocy) on @TopTradersLive

* Trend following as an inflation hedge
* The Russell 2000 is mainly comprised of companies that are losing money
* Portfolio construction for small investors
* Optimization is often counterproductive

toptradersunplugged.com/146-systematic…
From Rob's blog:

"Optimising portfolios for small accounts: Dynamic optimisation testing -> EPIC FAIL"
qoppac.blogspot.com/2021/06/optimi…
Read 4 tweets
1 Jul
1/ Global Tactical Cross-Asset Allocation: Applying Value and Momentum Across Asset Classes (Blitz, van Vliet)

"Momentum & value strategies applied to GTAA across twelve asset classes deliver statistically and economically significant abnormal returns."

papers.ssrn.com/sol3/papers.cf…
2/ "The starting point is simple yield measures. For equity assets, we use trailing E/P. For bond assets, we use standard yield-to-maturity. Both are adjusted for local risk-free rates. (For bonds, we are effectively taking the term premium as our valuation indicator.)"
3/ "We then apply asset-specific, fixed adjustments to yields. These were chosen such that the main structural biases towards certain asset classes are removed."

'Combined' rankings weight value by 50% and momentum by 50% (split equally between 1 month and 12-1 month momentum).
Read 17 tweets
1 Jul
New SSRN papers: July 2021
(I haven't read these, but the abstracts look interesting.)

Who Profits From Trading Options?
papers.ssrn.com/sol3/papers.cf…

Yield Curve Momentum
papers.ssrn.com/sol3/papers.cf…

June 2021 edition
All-Weather Portfolio Approach: Analysis of the Strategy on a 10-Year Timeframe, Insights and Investment Lessons
papers.ssrn.com/sol3/papers.cf…

Motivating Role of Sentiment in ESG Performance: Evidence from Japanese Companies
papers.ssrn.com/sol3/papers.cf…
Operating Leverage, Profitability, and Stock Returns under Different Aggregate Funding Conditions
papers.ssrn.com/sol3/papers.cf…

FIEs and the Transmission of Global Financial Uncertainty: Evidence from China
papers.ssrn.com/sol3/papers.cf…
Read 6 tweets
30 Jun
1/ Nonreplicable publications are cited more than replicable ones (Serra-Garcia, Gneezy)

"The difference does not change after publication of failure to replicate. Only 12% of post-replication citations of nonreplicable findings acknowledge the failure."

advances.sciencemag.org/content/7/21/e… Image
2/ "Three influential replication projects tried to systematically replicate the findings in top psychology, economics, & general science journals. In psychology (economics, Nature/Science), 39% (61%, 62%) of the experiments yielded significant findings in the replication study." Image
3/ "The relative effect sizes of findings that did (not) replicate were 75% (close to 0%) of the original ones.

"Prediction markets, in which experts in the field bet on results before the replication studies, showed that experts could predict which findings would replicate."
Read 18 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(