Via Scoop.it – Bounded Rationality and Beyond
SOMMARIO: 1. Premessa storica e metodologica – 2. Rapporti di durata e a lungo termine nell’elaborazione teorica e nell’attuale disciplina dei contratti. I rimedi manutentivi. – 3. Principio di adeguamento e principio di proporzionalità. – 4. Conservazione e rinegoziazione del contratto all’esame della giurisprudenza in materia di contratti a lungo termine. – 5. L’obbligo di rinegoziare introdotto nei Principi Unidroit e nei Principi del diritto europeo dei contratti. – 6. La rinegoziazione al vaglio della dottrina civilistica – 7. (segue) e nell’analisi economica del diritto. – 8. L’incompletezza del contratto. – 9. Considerazioni di sintesi.
Via rivista.ssef.it
Archivio per dicembre 2011
Via Scoop.it – Bounded Rationality and Beyond
Professor Jolls introduces the new behavioral law and economics. It emphasizes legal responses that do not curtail choice but, instead, correct systemic errors.
Via www.youtube.com
Via Scoop.it – Bounded Rationality and Beyond
Recent literature emphasizes the role that testosterone, as well as markers indicating early exposure to T and its organizing effect on the brain (such as the ratio of second to fourth finger, ), have on performance in financial markets. These results may suggest that the main effect of T, either circulating or in fetal exposure, on economic behavior occurs through the increased willingness to take risks. However, these findings indicate that traders with a low digit ratio are not only more profitable, but more able to survive in the long run, thus the effect might consist of more than just lower risk aversion.
Via www.plosone.org
Via Scoop.it – Bounded Rationality and Beyond
Social neuroscience is a rapidly growing discipline that examines the relationship between the brain and social behavior. The “social brain hypothesis” posits that, over evolutionary time, living in large, social groups favored the physical growth of brain regions important for social behavior. In non-human primates, some evidence indicates that the size of the amygdala is related to social behavior. Little is known, however, about this relationship in humans. A provocative new study finds that the volume of a key component of the social brain, the amygdala, is directly related to the size and complexity of social networks in adult humans.
Via brainblogger.com
Via Scoop.it – Bounded Rationality and Beyond
Looking at the larger picture, the Living Earth Simulator is really an admission that we know more about the physical universe than the social. We can predict with startling accuracy whether an asteroid will hit Earth, but we know scant little about how society might actually react to an extinction-level event. We plough billions of dollars into studying the effects and extent of climate change, but what if understood enough of the psychology and sociology behind human nature to actually change our behavior?
Via www.extremetech.com
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The Marvels And The Flaws Of Intuitive Thinking Edge Master Class 2011 | Conversation | Edge
Via Scoop.it – Bounded Rationality and Beyond
DANIEL KAHNEMAN – The power of settings, the power of priming, and the power of unconscious thinking, all of those are a major change in psychology. I can’t think of a bigger change in my lifetime. You were asking what’s exciting? That’s exciting, to me.
Via edge.org
Via Scoop.it – Bounded Rationality and Beyond
Economics has a long tradition of relying on quantitative models for both presenting its theory and testing it empirically. In fact, Joseph Schumpeter, in the first edition of Econometrica in 1933, described economics as the most quantitative of all sciences. Optimisation is an inherent part of this methodology. In theoretical models, agents are presented as utility maximisers and firms try to maximise profit or to minimise cost. Selecting and estimating models for given data sets amounts to optimisation as well – sums of squares are minimised and likelihoods are maximised so routinely today that often researchers may not even be aware that fitting a model means optimising it.
When building models, economists are often limited by the fact that the model later needs to be solved, ideally in a closed-form. Some researchers have abandoned relying on “representative agents” and opted for more complex models, relying on computer simulations to obtain results. Such agent-based models, if they are to be a viable alternative to more standard approaches, need to be “tuned” such that the results from these models coincide with empirical facts. This, again, is an estimation – and hence optimisation – problem. In this column, we will primarily discuss estimation problems in econometrics, but the problem is much more general and applies to many areas in economics (see Winker (2001), chapter 2).
Via voxeu.org
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Heuristics and the law
Via Scoop.it – Bounded Rationality and Beyond
In recent decades, the economists’ concept of rational choice has dominated legal reasoning. And yet, in practical terms, neither the lawbreakers the law addresses nor officers of the law behave as the hyperrational beings postulated by rational choice. Critics of rational choice and believers in “fast and frugal heuristics” propose another approach: using certain formulations or general principles (heuristics) to help navigate in an environment that is not a well-ordered setting with an occasional disturbance, as described in the language of rational choice, but instead is fundamentally uncertain or characterized by an unmanageable degree of complexity. This is the intuition behind behavioral law and economics. In Heuristics and the Law, experts in law, psychology, and economics explore the conceptual and practical power of the heuristics approach in law. They discuss legal theory; modeling and predicting the problems the law purports to solve; the process of making law, in the legislature or in the courtroom; the application of existing law in the courts, particularly regarding the law of evidence; and implementation of the law and the impact of law on behavior.
Via books.google.it
Via Scoop.it – Bounded Rationality and Beyond
“La ragione è completamente strumentale. Essa non può dirci dove andare; tutt’al più può dirci come arrivarci. È un’arma da utilizzare che può essere impiegata per ottenere un qualche scopo, buono o cattivo che sia” sostenne Simon (1983) volgendosi verso il grande problema della razionalità dei comportamenti.
È possibile determinare un ventaglio di regole normative pratiche che indirizzino l’individuo verso un comportamento razionale che assicuri il miglior grado di soddisfazione soggettiva?
Via fbmcssblogblogger.blogspot.com
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Behavioural Economics
Via Scoop.it – Bounded Rationality and Beyond
A good Introduction to Behavioural Economics, made by William Boot (www.williamboot.net)…
Via www.slideshare.net
inobrec
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