Abstract: We investigate experimentally whether collective choice matters for individual attitudes to ambiguity. We consider a two-urn Ellsberg experiment: one urn offers a 45% chance of winning a fixed monetary prize, the other an ambiguous chance. Participants choose either individually or in groups of three. Group decision rules vary. In one treatment the collective choice is taken by majority; in another it is dictated by two group members; in the third it is dictated by a single group member. We observe high proportions of ambiguity averse choices in both individual and collective decision making. Although a majority of participants display consistent ambiguity attitudes across their decisions, collective choice tends to foster ambiguity aversion, especially if the decision rule assigns asymmetric responsibilities to group members. Previous participation in laboratory experiments may miti- gate this.
Archivio per settembre 2014
The benefits were particularly strong for those who were stressed.
Prendendo gruppo passeggiate nella natura è associata con una migliore benessere mentale e ridurre lo stress e la depressione, un nuovo studio su larga scala trova.
Lo studio è uno dei primi a dimostrare che semplicemente camminando nella natura non si limita a beneficio del corpo, ma anche la mente.
who knows if it not be better to hold meetings while walking to function better the mind, should force the governed to walk for hours to be able to decide better!
Carrying out beheadings and other extreme acts is unthinkable for most people, but the right cocktail of factors can make anyone an extremist, says neuroscientist Prof Ian Robertson.
You can see it in the faces of the young male Islamic State militants as they race by on their trucks, black flags waving, broad smiles on their faces, clenched fists aloft, fresh from the slaughter of infidels who would not convert to Islam. What you can see is a biochemical high from a combination of the bonding hormone oxytocin and the dominance hormone testosterone. Much more than cocaine or alcohol, these natural drugs lift mood, induce optimism and energise aggressive action on the part of the group. And because the individual identity has been submerged largely into the group identity, the individual will be much more willing to sacrifice himself in battle – or suicide bombing, for that matter. Why? – Because if I am submerged in the group, I live on in the group even if the individual “me”, dies.
When people bond together, oxytocin levels rise in their blood, but a consequence of this is a greater tendency to demonise and de-humanise the out-group. That is the paradox of selfless giving to your in-group – it makes it easier for you to anaesthetise your empathy for the out-group and to see them as objects. And doing terrible things to objects is fine because they are not human…..
Neural networks are formed by the interconnection of specific neurons in the brain. The molecular mechanisms involved in creating these connections, however, have so far eluded scientists.
In this paper I employ Imre Lakatos’s methodology of scientific research programs to scrutinize the idea that stagflation in the 1970s falsified the Keynesian research program. I point out that Keynesian models were able to account for stagflation once they included inflation expectations, so the essential tenets of the Keynesian research program are consistent with the would-be anomaly of stagflation. Furthermore, Keynesian economics exhibited both theoretical and empirical progress by evolving in a way that rendered stagflation a logical consequence of Keynesian assumptions. The transition to new classical economics did not yield such progress. Also, as Keynesian economics tends to adopt novel findings and research methods, new classical economics does not have excess theoretical or empirical content relative to the Keynesian research program. In summary, I find that the falsification of the Keynesian program is unwarranted.
Abstract: This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard (“behavioral”) assumptions concerning consumer choice.
This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by surveying behavioral studies of policy problems involving saving, addiction, and public goods. We argue that the literature on behavioral public economics, though in its infancy, has already fundamentally changed our understanding of public policy in each of these domains.