Archivio per 2 novembre 2013

02
Nov
13

RSA Replay: The Era of Behaviour

See on Scoop.itBounded Rationality and Beyond

On Thursday 31 October, LRN CEO and author of ‘How’, Dov Seidman visited the RSA to outline the implications for living and working in what he calls the ‘Era of Behaviour’, where the source of competitive advantage has dramatically shifted from what we do, to how we do it.

See on www.youtube.com

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02
Nov
13

RSA Replay: The Era of Behaviour

See on Scoop.itBounded Rationality and Beyond

On Thursday 31 October, LRN CEO and author of ‘How’, Dov Seidman visited the RSA to outline the implications for living and working in what he calls the ‘Era of Behaviour’, where the source of competitive advantage has dramatically shifted from what we do, to how we do it.

See on youtube.com

02
Nov
13

Master Class 2008: Putting Psychology into Behavioral Economics (Class 6) | Edge.org

See on Scoop.itBounded Rationality and Beyond

RICHARD THALER: ehavioral economics and good psychology, there’s a lot of art. There is science and there are well-crafted experiments, but thinking about what the right experiment to run, was art and, there are 80 gazillion experiments, which ones are relevant to getting people to plant the right seed. That’s a problem that Sendhil and I have been talking about for, well, since he was born. You’re now seeing the results of 15 years of conversations. And there wasn’t a scientific way of answering that question.

SENDHIL MULLAINAITHAN: A lot of what makes behavioral economics interesting is psychology, it is about what happens inside the mind. These phenomena are taking things that are happening inside the mind and interfacing them with things happening in the world, the environment, and getting feedback or getting interesting responses from that.

We happen to call the word economics. But it’s not economics. You could be talking about crime, you could be talking about many things, in the social domain, the entire spectrum of human behavior. Anyone who is interested in the broader world should be interested in something we currently call “behavioral economics”.

DANIEL KAHNEMAN: What we’re saying is that there is a technology emerging from behavioral economics. It’s not only an abstract thing. You can do things with it. We are just at the beginning. I thought that the input of psychology into behavioral economics was done. But hearing Sendhil was very encouraging because there was a lot of new psychology there. That conversation is continuing and it looks to me as if that conversation is going to go forward. It’s pretty intuitive, based on research, good theory, and important. 

See on www.edge.org

02
Nov
13

Master Class 2008: Putting Psychology into Behavioral Economics (Class 6) | Edge.org

See on Scoop.itBounded Rationality and Beyond

RICHARD THALER: ehavioral economics and good psychology, there’s a lot of art. There is science and there are well-crafted experiments, but thinking about what the right experiment to run, was art and, there are 80 gazillion experiments, which ones are relevant to getting people to plant the right seed. That’s a problem that Sendhil and I have been talking about for, well, since he was born. You’re now seeing the results of 15 years of conversations. And there wasn’t a scientific way of answering that question.

SENDHIL MULLAINAITHAN: A lot of what makes behavioral economics interesting is psychology, it is about what happens inside the mind. These phenomena are taking things that are happening inside the mind and interfacing them with things happening in the world, the environment, and getting feedback or getting interesting responses from that.

We happen to call the word economics. But it’s not economics. You could be talking about crime, you could be talking about many things, in the social domain, the entire spectrum of human behavior. Anyone who is interested in the broader world should be interested in something we currently call “behavioral economics”.

DANIEL KAHNEMAN: What we’re saying is that there is a technology emerging from behavioral economics. It’s not only an abstract thing. You can do things with it. We are just at the beginning. I thought that the input of psychology into behavioral economics was done. But hearing Sendhil was very encouraging because there was a lot of new psychology there. That conversation is continuing and it looks to me as if that conversation is going to go forward. It’s pretty intuitive, based on research, good theory, and important. 

See on edge.org

02
Nov
13

Making Risk-Taking Riskier Will Hurt Startups

See on Scoop.itBounded Rationality and Beyond

A recurring theme of this year’s presidential campaign is the need to encourage the formation of new businesses. Republicans in general, and Mitt Romney in particular, have stressed that the best way to stimulate such startups is via low tax rates on high-income earners.

Romney wants to cut top rates by 20 percent, maintain the favorable treatment given to capital gains and dividends, and completely eliminate the estate tax, which currently only kicks in on estates in excess of $5 million for an individual or $10 million for a (heterosexual) married couple.

In other words, this is a strategy that emphasizes maximizing the after-tax returns if and when you hit it big. Yet if you think about the way most new businesses are started, it should be clear that these tax incentives have very little to do with the decisions facing most new entrepreneurs.

See on www.bloomberg.com

02
Nov
13

Making Risk-Taking Riskier Will Hurt Startups

See on Scoop.itBounded Rationality and Beyond

A recurring theme of this year’s presidential campaign is the need to encourage the formation of new businesses. Republicans in general, and Mitt Romney in particular, have stressed that the best way to stimulate such startups is via low tax rates on high-income earners.

Romney wants to cut top rates by 20 percent, maintain the favorable treatment given to capital gains and dividends, and completely eliminate the estate tax, which currently only kicks in on estates in excess of $5 million for an individual or $10 million for a (heterosexual) married couple.

In other words, this is a strategy that emphasizes maximizing the after-tax returns if and when you hit it big. Yet if you think about the way most new businesses are started, it should be clear that these tax incentives have very little to do with the decisions facing most new entrepreneurs.

See on bloomberg.com

02
Nov
13

David Ignatius – The Death of ‘Rational Man’

See on Scoop.itBounded Rationality and Beyond

What allowed some people to see the financial crash coming while so many others missed its gathering force? I put that question recently to Nouriel Roubini, who has come to be known as “Dr. Doom” because of his insistent warnings starting in 2006 that we were heading into a global firestorm.

Roubini gave two kinds of answers. The first involves standard number-crunching of the sort that economists routinely do – and that Roubini just did better and sooner. It’s his second answer that’s more interesting, because it goes to the heart of what we should take away from this crisis: Roubini decided to discard the assumption of market rationality that underlies most economics and to embrace the psychological insights of what’s known as “behavioral economics.”

See on washingtonpost.com




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