Archivio per 25 novembre 2011

25
Nov
11

Scientists discover how playing music alters how the brain processes multiple sensory stimuli

Via Scoop.itBounded Rationality and Beyond

It has long been established that pianists develop a particularly acute sense of the temporal correlation between the movements of the piano keys and the sound of the notes played. However, researchers from the Max Planck Institute for Biological Cybernetics in Germany have discovered that when it comes to assessing the synchronicity of lip movements and speech, pianists are no better at the task than their tone-deaf, non-musician counterparts. Study authors HweeLing Lee and Uta Noppeney came to this conclusion after carrying out a comparative study on simultaneous brain processing of stimuli from different senses by both musicians and non-musicians. They used functional magnetic resonance imaging in their study to map the areas of the brain that were active during this process.
Via cordis.europa.eu

Annunci
25
Nov
11

Study shows how brain rhythms impact learning

Via Scoop.itBounded Rationality and Beyond

The faster you move, the stronger your brain rhythms related to learning become.

The faster the speed becomes, the stronger the gamma rhythm becomes as well. ‘The gamma rhythm is known to be controlled by attention and learning, but we find it is also governed by how fast you are running,’ explains Professor Mehta, senior author of the study. ‘This research provides an interesting link between the world of learning and the world of speed.’
Via cordis.europa.eu

25
Nov
11

Music Alters Visual Perception

Via Scoop.itBounded Rationality and Beyond

Visual perception is not a passive process: in order to efficiently process visual input, the brain actively uses previous knowledge (e.g., memory) and expectations about what the world should look like. However, perception is not only influenced by previous knowledge. Especially the perception of emotional stimuli is influenced by the emotional state of the observer. In other words, how we perceive the world does not only depend on what we know of the world, but also by how we feel. In this study, we further investigated the relation between mood and perceptionAs illusory percepts are believed to reflect the content of internal representations that are employed by the brain during top-down processing of visual input, we conclude that top-down modulation of visual processing is not purely predictive in nature: mood, in this case manipulated by music, may also directly alter the way we perceive the world.
Via www.plosone.org

25
Nov
11

Behavioral Economics | David Tuckett: economics fatally under-estimates importance of emotions – QFINANCE

Via Scoop.itBounded Rationality and Beyond

Ian Fraser examines David Tuckett’s view on the power of emotions within the world of economicsThe myths of the rational investor and the efficient market hypothesis have much to answer for. Arguably, they underpinned the folly that was Alan Greenspan-ism, fuelling the insanity that overcame banking and financial markets ahead of the global financial crisis.
Via www.qfinance.com

25
Nov
11

Fear, Greed, And Financial Crises- A Cognitive Neurosciences Perspective

Via Scoop.itBounded Rationality and Beyond

Historical accounts of financial crises suggest that fear and greed are the common denominators of these disruptive events: periods of unchecked greed eventually lead to excessive leverage and unsustainable asset-price levels, and the inevitable collapse results in unbridled fear, which must subside before any recovery is possible. The cognitive neurosciences may provide some new insights into this boom/bust pattern through a deeper understanding of the dynamics of emotion and human behavior. In this chapter, I describe some recent research from the neurosciences literature on fear and reward learning, mirror neurons, theory of mind, and the link between emotion and rational behavior. By exploring the neuroscientific basis of cognition and behavior, we may be able to identify more fundamental drivers of financial crises, and improve our models and methods for dealing with them.
Via es.scribd.com

25
Nov
11

Bounded Rationality, Standard Form Contracts, And Unconscionability Russell Korobkin

Via Scoop.itBounded Rationality and Beyond

Economic theory suggests that, in most circumstances, market forces will ensure that standard form contracts contain terms that are not only socially efficient but also beneficial to nondrafting parties as a class compared to other possible combinations of price and terms. This analysis in turn suggests that courts should enforce all form terms or, at a minimum, all form terms that non-drafting parties read and understand. Relying on social science research on decisionmaking, this Article argues that non-drafting parties (usually buyers) are boundedly rational decisionmakers who will normally price only a limited number of product attributes as part of their purchase decision. When contract terms are not among these attributes, drafting parties will have a market incentive to include terms in their standard forms that favor themselves, whether or not such terms are efficient. Thus, there is no a priori reason to assume form contract terms will be efficient. The Article then argues that the proper policy response to this conclusion is greater use of mandatory contract terms and judicial modification of the unconscionability doctrine to better respond to the primary cause of contractual inefficiency.
Via www.scribd.com




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