Archivio per 27 febbraio 2014

27
Feb
14

History, Expectations, and Leadership in the Evolution of Social Norms

See on Scoop.itBounded Rationality and Beyond

Abstract

We study the evolution of a social norm of “cooperation” in a dynamic environment.Each agent lives for two periods and interacts with agents from the previous and nextgenerations via a coordination game. Social norms emerge as patterns of behaviorthat are stable in part due to agents’ interpretations of private information aboutthe past, influenced by occasional commonly-observed past behaviors. For sufficientlybackward-looking societies, history completely drives equilibrium play, leading to asocial norm of high or low cooperation. In more forward-looking societies, there is apattern of “reversion” whereby play starting with high (low) cooperation reverts towardlower (higher) cooperation. The impact of history can be countered by occasional“prominent” agents, whose actions are visible by all future agents and who can leveragetheir greater visibility to influence expectations of future agents and overturn socialnorms of low cooperation.

See on academia.edu

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27
Feb
14

History, Expectations, and Leadership in the Evolution of Social Norms

See on Scoop.itBounded Rationality and Beyond

Abstract

We study the evolution of a social norm of “cooperation” in a dynamic environment.Each agent lives for two periods and interacts with agents from the previous and nextgenerations via a coordination game. Social norms emerge as patterns of behaviorthat are stable in part due to agents’ interpretations of private information aboutthe past, influenced by occasional commonly-observed past behaviors. For sufficientlybackward-looking societies, history completely drives equilibrium play, leading to asocial norm of high or low cooperation. In more forward-looking societies, there is apattern of “reversion” whereby play starting with high (low) cooperation reverts towardlower (higher) cooperation. The impact of history can be countered by occasional“prominent” agents, whose actions are visible by all future agents and who can leveragetheir greater visibility to influence expectations of future agents and overturn socialnorms of low cooperation.

See on www.academia.edu

27
Feb
14

How do we really make decisions?

See on Scoop.itBounded Rationality and Beyond

With every decision you take, every judgement you make, there is a battle in your mind – a battle between intuition and logic.

And the intuitive part of your mind is a lot more powerful than you may think.

Most of us like to think that we are capable of making rational decisions. We may at times rely on our gut instinct, but if necessary we can call on our powers of reason to arrive at a logical decision.

Continue reading the main story If we think that we have reasons for what we believe, that is often a mistake” Prof Daniel KahnemanPrinceton University

We like to think that our beliefs, judgements and opinions are based on solid reasoning. But we may have to think again.

Prof Daniel Kahneman, from Princeton University, started a revolution in our understanding of the human mind. It’s a revolution that led to himwinning a Nobel Prize.

His insight into the way our minds work springs from the mistakes that we make. Not random mistakes, but systematic errors that we all make, all the time, without realising.

Prof Kahneman and his late colleague Amos Tversky, who worked at the Hebrew University of Jerusalem and Stanford University, realised that we actually have two systems of thinking. There’s the deliberate, logical part of your mind that is capable of analysing a problem and coming up with a rational answer.

See on bbc.com

27
Feb
14

How do we really make decisions?

See on Scoop.itBounded Rationality and Beyond

With every decision you take, every judgement you make, there is a battle in your mind – a battle between intuition and logic.

And the intuitive part of your mind is a lot more powerful than you may think.

Most of us like to think that we are capable of making rational decisions. We may at times rely on our gut instinct, but if necessary we can call on our powers of reason to arrive at a logical decision.

Continue reading the main story If we think that we have reasons for what we believe, that is often a mistake” Prof Daniel KahnemanPrinceton University

We like to think that our beliefs, judgements and opinions are based on solid reasoning. But we may have to think again.

Prof Daniel Kahneman, from Princeton University, started a revolution in our understanding of the human mind. It’s a revolution that led to himwinning a Nobel Prize.

His insight into the way our minds work springs from the mistakes that we make. Not random mistakes, but systematic errors that we all make, all the time, without realising.

Prof Kahneman and his late colleague Amos Tversky, who worked at the Hebrew University of Jerusalem and Stanford University, realised that we actually have two systems of thinking. There’s the deliberate, logical part of your mind that is capable of analysing a problem and coming up with a rational answer.

See on www.bbc.com




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