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The double- blind study, “The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading,” which was published in the INFORMS journal Management Science, gave either topical testosterone or a placebo to 140 young males and set them loose buying and selling financial assets to earn real money. The men who got the additional testosterone bought and sold more, created larger price bubbles, were prone to mis-pricing, and their perception of a stock’s value was skewed.

In a paper in the INFORMS journal Management Science called ‘The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading’, experts gave 140 young men an edible gel containing either a placebo or testosterone. The participants were then set an experimental task where they had to post bids and ask prices of assets, as well as buying and selling financial assets to earn money. The researchers found that among the group which received extra testosterone, larger price bubbles formed, there was more mispricing and their perception of a stock’s value changed dramatically.

Ramayya Krishnan, dean of the Heinz College of Information Systems and Public Policy at Carnegie Mellon University, has been elected as president of the Board of Directors at INFORMS, an international association of operations-research and analytics professionals and students.

The results of a forthcoming study in the INFORMS journal Marketing Science looking at the broader impact of calorie labeling on menus suggests that posting calorie info can not only induce more healthful choices by consumers in a restaurant, but may also affect how consumers review restaurants and redirect consumers towards more healthful options within restaurants.

A new computer program, developed by a team from Lehigh University, that matches inmates with suitable prisons has saved the Pennsylvania Department of Corrections about $3 million in its first year. Officials said it has resulted in fewer prison assaults, shortened wait times for treatment programs by nearly two months, reduced the number of prison transfers and lightened the workload of corrections staff. In recognition of their development, the Lehigh University team has received the INFORMS Wagner Prize, the top international prize in the field of operations research practice.