31
ago
14

ADMA Unplugged: Paul Zak, Center for Neuroeconomics Studies – YouTube

Paul Zak and Brian Frost explore the neurochemistry of brand love in this ADMA Unplugged online interview. Paul J. Zak is the founding Director of the Center for Neuroeconomics Studies and Professor of Economics, Psychology and Management at Claremont Graduate University. Brian Frost is a creative at Innocean USA.

Source: www.youtube.com

See on Scoop.itBounded Rationality and Beyond

31
ago
14

CFA level III – Behavioral Finance Perspective (Curriculum reading #7) – YouTube

Overview :
Traditional v/s Behavioral Finance
Risk aversion
Challenges to traditional finance
Utility theory and decision theory
Bounded rationality
Prospect theory
- Editing
- Evalution
Capital markets and portfolio construction
- Traditional finance perspective
- Behavioral finance perspective
CFA Level III Behavioral Finance Perspective Part 1CFA level III – Behavioral Finance Perspective (Curriculumn reading #7)

Source: www.youtube.com

See on Scoop.itBounded Rationality and Beyond

31
ago
14

People are not “rational”: An empirical study of th deviation between actual and shortest travel time path

Abstract

Few empirical studies of revealed route characteristics have been reported in the literature. This study challenges the widely applied shortest path assumption by evaluating routes followed by residents of the Minneapolis – St. Paul metropolitan area, as

measured by the GPS Component of the 2011 Twin Cities Travel Behavior Inventory. It nds that most travelers used paths longer than the shortest path. Some reasons for this are conjectured.

Source: nexus.umn.edu

See on Scoop.itBounded Rationality and Beyond

31
ago
14

Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework

Abstract: There is a broadly held assumption within the entrepreneurship literature that fear of failure is always and only an inhibitor of entrepreneurial behavior. However, anecdotal evidence and psychological theory suggest that this assumption is flawed. If fear stimulates greater striving in some cases or situations, then perhaps it can be a friend as much as a foe. The motivating value of fear may have consequences for the reactions, decisions, health and well-being of the entrepreneur. Unfortunately, a lack of rigorous conceptualization of the construct is a barrier to understanding such consequences. We present a grounded theoretic framework of the antecedents, moderators and consequences of fear of failure with significant implications for theory and future research.

 

Source: enterpriseresearch.ac.uk

See on Scoop.itBounded Rationality and Beyond

30
ago
14

Ecological Rationalit

 Which city has more inhabitants: Detroit or Milwaukee? If you don’t know the correct answer, you are not alone. In a study, we asked this question to German and US students and students from neither country knew that the answer was Detroit. However, German students intuitively gave the correct answer much more often than students in the US did. Why? German students were able to rely on a simple, intuitive rule of thumb, the so-called recognition heuristic:If you only recognize one of two objects, then infer that the recognized object has a higher value (in this case more inhabitants).This rule of thumb works well as long as we don’t know too much about a topic. Having heard about both cities many times before, the U.S. students could not apply the recognition heuristic and selected the right answer less often.© Max-Planck-Institut für Bildungsforschung 

Note: Impact of quality: High-quality objects are mentioned more frequently in the media than low-quality objects. Impact of publicity: Objects more frequently mentioned in the media are more likely to be recognized. Recognition validity: Objects that are recognized more often are thus more often of higher quality (cf.Goldstein & Gigerenzer, 2002).

Ecological rationality studies humans in real-world domains and explores which heuristics are promising in which environment. For example, the recognition heuristic works only if there is a correlation between recognition of an object (name of a city) and quality of the object (size of the city) – for instance, that bigger cities appear more often in the media than smaller ones – and if only one of the two objects is recognized (as did the German students but not the U.S. students).

Source: www.mpib-berlin.mpg.de

See on Scoop.itBounded Rationality and Beyond

29
ago
14

Neuroscientists watch imagination happening in the brain | neuroscientistnews.com

“You may say I’m a dreamer, but I’m not the only one,” sang John Lennon in his 1971 song Imagine. And thanks to the dreams of a Brigham Young University (BYU) student, we now know more about where and how imagination happens in our brains. Stefania Ashby and her faculty mentor devised experiments using MRI technology that would help them distinguish pure imagination from related processes like remembering. “I was thinking a lot about planning for my own future and imagining myself in the future, and I started wondering how memory and imagination work together,” Ashby said. “I wondered if they were separate or if imagination is just taking past memories and combining them in different ways to form something I’ve never experienced before.” There’s a bit of scientific debate over whether memory and imagination truly are distinct processes. So Ashby and her faculty mentor devised MRI experiments to put it to the test. – See more at: http://www.neuroscientistnews.com/research-news/neuroscientists-watch-imagination-happening-brain#sthash.Bv6SlA1Y.dpuf

Source: www.neuroscientistnews.com

See on Scoop.itBounded Rationality and Beyond

29
ago
14

The psychology and economics of reverse mortgage attitudes: evidence from the Netherlands

Il centro è il primo centro di ricerca in Italia specificatamente dedicato allo studio dell’economia delle pensioni e dell’invecchiamento.

Abstract

This paper presents the results from a survey on the attitudes toward reverse mortgages of homeowners aged 45 and over in the Netherlands. We find that there is substantial potential interest in reverse mortgages, especially for the purpose of being able to live more comfortably and not worry about money until death, or to be able to spend a large sum of money upon retirement on hobbies, home improvements or traveling. A similar study has been done for Italy, where results differ from those related to the Netherland. For Italian households a reverse mortgage is primarily seen as a last resort. We use two different frames for suggestions on the use of the loan – own consumption versus bequest – and find that the latter significantly raises interest in reverse mortgages of people with a bequest wish. We interpret this as evidence that people are unaware of the potential of reverse mortgages to optimize the timing of bequests. Women are less interested, while demand is highest among those around retirement age, depends positively on the ratio of housing wealth over income and on the perceived riskiness of future pensions, and negatively on the expected replacement ratio. We find a counterintuitive result for bequest timing, as people are more interested if the age difference with the oldest child is larger.

Source: cerp.carloalberto.org

See on Scoop.itBounded Rationality and Beyond




Time is real? I think not

settembre: 2014
L M M G V S D
« ago    
1234567
891011121314
15161718192021
22232425262728
2930  

Commenti recenti

Inserisci il tuo indirizzo e-mail per iscriverti a questo blog e ricevere notifiche di nuovi messaggi per e-mail.

Unisciti agli altri 15 follower

Latest Tweets


Iscriviti

Ricevi al tuo indirizzo email tutti i nuovi post del sito.

%d blogger cliccano Mi Piace per questo: