Archivio per 6 settembre 2014

06
Set
14

The Label “Rational” Is Being Used Illogically | Big Think

See on Scoop.itBounded Rationality and Beyond

The label “rational” is being used illogically. Economists (even the better behavioural kind) often misapply it, ignoring Shakespeare’s wisdom (he understood human nature better) and our evolved relational rationality.
1. Consider the Ultimatum Game: a Proposer is given money and must …

See on bigthink.com

06
Set
14

The Political Economy of Nonlinear Capital Taxation

See on Scoop.itBounded Rationality and Beyond
Abstract:

We study efficient nonlinear taxation of labor and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without commitment, as the outcome of democratic elections. We study
the best equilibrium for this dynamic game. Our main result is that the marginal tax on capital income is progressive, in the sense that richer agents face higher marginal tax rates.

See on scholar.harvard.edu

06
Set
14

Incremental Shifts in pH Spring Water Can Be Stored as “Space-Memory”: Encoding and Retrieval Through the Application of the Same Rotating Magnetic Field | Dotta | NeuroQuantology

See on Scoop.itBounded Rationality and Beyond

ABSTRACT

Both four-dimensional (space-time) models and Casimir-like processes predict that the representations of stimulusresponse

pairing remain in altered or virtual states that can be potentially retrieved. Over a six month period we

demonstrated “excess correlations” between mild acidification in quantities (50 ml) of spring water in a local space

and the temporally contiguous incremental alkalinisation in nonlocal quantities of water when both loci were exposed

to the same experimental paradigm that produced “entanglement” in photon reactions. The procedure required

simultaneous exposures of both loci to specific patterns of rotating magnetic fields displaying specific rates of change

in angular velocity. If the ~0.1 unit increases in pH within the non-local water samples due to injections of acetic acid

in the local samples had been established on one day, comparable shifts occurred in the non-local water samples the

following day when there were no injections of acetic acid if the space was exposed to the original magnetic field

configurations. These results suggest that, like photon patterns, the “memory” or representation of pH (H+) shifts

remain in space long after the stimulus has been removed and can be retrieved within that space if the specific

electromagnetic field is repeated.

See on neuroquantology.com

06
Set
14

Chaos Theory and its Application in Political Science

See on Scoop.itBounded Rationality and Beyond

Abstract:
The introduction of the notion of chaos – derived from the chaos theory as developed in mathematical and physics sciences – into the study of socio-political phenomena allow us to better understand the dynamic evolution of these non-linear systems. This paper intends to review the still embryonic literature regarding the application of the chaos theory in political science, particularly into the fields of public policies and international relations. The modelling  and prediction attempts made using non-linear tools (such as the mathematical transformations, the fractal objects and other graphic and quantitative methods applicable to the specificities of the socio-political data) reveal the original asset of the chaos for social sciences. Using examples and cases studies, we will attempt to develop and show the pertinence of these original concepts (such as the bifurcations, the strange attractors, or the sensivity to
initial conditions) as well as the analysis and prediction tools associated to them in order to apprehend and understand political phenomena whose behaviour seem to be, at first sight, random or at least unpredictable.

See on dev.ulb.ac.be

06
Set
14

Hypercitizenship and the Management of Genetic Diversity: Sociology of Law and the Key Systemic Bifurcation Between the Ring Singularity and the Neofeudal Age

See on Scoop.itBounded Rationality and Beyond

This article is essentially theoretical and is focused on the allocative function of the legal systems to attract/reject different capitals according to their proceduresto shape norms and laws. This function of the legal systems is pivotal in ourtimes as humankind is facing a systemic and evolutionary bifurcation betweenthe heideggerian Gegnet of a strategic, high speed convergence (i.e., Singularity)among robotics, informatics, nanotechnologies, and genetics (RINGs)—whichwill reshape human life in terms of its life quality styles and standards especiallyregarding health and environment matters, and the so called Neofeudal Scenario(NS) supported by those for whom the Industrial Model failed and the only wayto save humankind and its environment would be a kind return to a Medievallife style based on a slow pace of life and austerity. This article provides anoverview of the most important and recent international references regarding thetwo alternatives of bifurcation and describes a potential paradigm shift inside thesystemic approach to reframe the conceptual map of global change through asystemic epistemology of the sociology of law

See on academia.edu

06
Set
14

What Can We Learn From The Wealth of Virtual Nations?

See on Scoop.itBounded Rationality and Beyond

Economists look to massively multi-player online games for insight into real-world money questions.

A 2009 study led by Edward Castronova, an economist and media expert at Indiana University, took up the question of whether virtual worlds could be considered “economies” in the way a real nation might. The authors examined the MMO EverQuest2 and found that, “with the buying and selling of goods, banking, the creation of goods, and the equivalent of income, derived from taking currency and items from defeated monsters,” the characteristics of a functioning economy were there. Furthermore, a GDP could be calculated, and price levels of various items across the game responded to fluctuations in inflation. “People approach pricing and wealth in virtual environments in much the same way as they do in the real world,” Castronova told me. 

How, in a contained economy, does wealth arise among individuals? Can it be a function of a person’s behavioral patterns, or position within social networks? 

That’s part of the reason MMOs are so alluring to Castronova—who’s often cited as a founder of the field of virtual economics—as well as to a growing legion of social scientists. Another draw is that these virtual worlds are self-contained and user-driven: For the most part, game developers don’t intervene in the action; each player is following their own quest, forging their own path, building their own networks. People are making decisions on their own. 

See on citylab.com

06
Set
14

Envy Has Got Nothing To Do With It

See on Scoop.itBounded Rationality and Beyond

Peter Schiff argues that it’s living standards that matter, not inequality and that the poor are much better off under capitalism today than the poor in ancient times under different economic systems. 

In a way, classical economics should not surprise us that the incentive effects from money start to blunt after a certain level. Like basically everything in life, money is also subject to the law of diminishing marginal utility. If you already have a lot, additional dollars mean less and less.

In a way, classical economics has some difficulty explaining why very rich people still continue to work, considering work itself is treated as a ‘disutility’ (which is why we need these financial incentives in the first place) and money suffers from the law of diminishing marginal utility.

Other sciences are less sanguine, we know that people earning more tend to work more (many seem to enjoy their job, deriving status, fulfillment, social contacts and even identity from it). We also know that being unemployed almost invariably extracts a heavy psychological and social toll.

However, from behavioral economics we know that, after a certain minimum threshold (needed for reasonably comfortable living), what matters most is not the absolute amount of money, but how one is doing with reference to a peer group one considers comparable. In famous experiments, people prefer to earn $50,000 when others earn $40,000, rather than earn $100,000 when others earn $200,000.

See on seekingalpha.com




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