Archivio per 22 settembre 2014

22
Set
14

How To Do More In Your First Hour Of Work Than Most People Do All Day

See on Scoop.itBounded Rationality and Beyond

There’s a simple way to get more done: You match your most important tasks to your most productive time. For many of us, mornings are it.

A recent survey done by Timeful, a scheduling app, and famed behavioral economics professor Dan Ariely, found that more than 60% of respondents claimed their most productive time occurred during various windows between 6 a.m. and noon.

So if you make the most of the first hour of your workday, you can get more done before your mid-morning break than most people do all day. Here’s how to rock this time and start the day right:

 

See on fastcompany.com

22
Set
14

Have the Behaviorists Gone Too Far?

See on Scoop.itBounded Rationality and Beyond

In 1966, Abraham Maslow published The Psychology of Science: A Reconnaissance. Building on a concept he had touched upon in earlier works, Maslow wrote, “I suppose it is tempting, if the only tool you have is a hammer, to treat everything as if it were a nail.” It was a clever way to discuss confirmation bias, and the phenomenon he described became commonly known as Maslow’s hammer or man-with-a-hammer syndrome.

Of course, Maslow’s quip was not intended for tradesmen working in the physical world. No, instead this remark was referring to people working with ideas — psychologists, politicians, teachers, business leaders, and, of course, analysts, portfolio managers, and investors. It is much easier to imagine a person working in a knowledge-based trade applying a framework that he or she believes in only to discover that the world around them is more complex than expected.

 

See on blogs.cfainstitute.org

22
Set
14

Donations, risk attitudes and time preferences: A study on altruism in primary school children

See on Scoop.itBounded Rationality and Beyond

Abstract: We study in a sample of 1,070 primary school children, aged seven to eleven years, how altruism in a donation experiment is related to children’s risk attitudes and intertemporal choices. Examining such a relationship is motivated by theories of reciprocal altruism that provide a cornerstone for understanding human social behavior. We find that higher risk tolerance and patience in intertemporal choice increase, in general, the level of donations, albeit the effects are non-linear. We confirm earlier results that altruism increases with age during childhood and that girls are more altruistic than boys. Having older brothers makes subjects less altruistic.

See on econpapers.repec.org

22
Set
14

Tax Compliance and Enforcement in the Pampas: Evidence from a Field Experiment

See on Scoop.itBounded Rationality and Beyond

Abstract: Tax evasion is a pervasive problem in many countries. In particular, some developing countries do not collect even half of what they would if taxpayers complied with the written letter of the law. The academic literature has not been oblivious to the need to explain why people pay (or do not pay) taxes. However, the empirical literature has not yet reached consensus. This paper reports the results of a large field experiment that tried to affect compliance by influencing property tax taxpayers’ beliefs regarding the levels of enforcement, equity, and fairness of the tax system in a municipality in Argentina. Results indicate that the most effective message was one that stated the actual fines and potential legal consequences taxpayers may face in the case of noncompliance (tax compliance increased by more than 4 percentage points). No average effects are found for the treatments designed to affect beliefs about the equity and fairness of the system. However, the evidence also points out that not every taxpayer updates his or her beliefs in the same direction, as relevant heterogeneous effects are found across the population. The evidence in this paper advances the state of knowledge and may help to reconcile some of the different results in the literature.

See on econpapers.repec.org

22
Set
14

Weekend Reads for Finance Pros: Meditation, Munger, and Moneyball

See on Scoop.itBounded Rationality and Beyond

Not long ago, I wrote about one of my favorite pastimes: sitting quietly on a park bench in New York City’s Central Park. These moments of solitude, if not silence, are becoming increasingly rare in this era of “fetishistic connectivity.”

Lately I’ve been wondering what it would be like to do a silent retreat. Would the noise in my head drive me to distraction? Would I want to burst forth yelling and screaming in rebellion? Or would I find clarity and calm amid the meditation and silence?

The benefits of meditation are well-known and have been espoused by some of the world’s most successful investors and innovators. Indeed, even business schools are starting to include meditation in their curricula. Last year, my colleague Jason Voss, CFA, wrote about “a watershed event in business school education,” the news that Georgetown would teach meditation to its business school students in a semester-long course. And last week, NYU’s Stern School of Business announced that MBAs will be offered meditation this fall as part of the NYU Mindfulness in Business Initiative. (Voss also recently blogged about how meditators can overcome behavioral biases.)

See on blogs.cfainstitute.org




Time is real? I think not

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