Archivio per 17 novembre 2014

17
Nov
14

The Best Look for a Leader: Intelligent or Healthy? — PsyBlog

See on Scoop.itBounded Rationality and Beyond

When choosing a leader, people prefer a healthy complexion, but mostly ignore the appearance of intelligence, a new study finds.

The findings are based on a Dutch-led study, which looked at the unconscious influence of facial appearance on which leaders people choose for different sorts of leadership (Spisak et al., 2014).

Facial traits can provide all sorts of information about someone’s personality.

For example, a more feminine face — in both men and women — is linked to greater ‘feminine’ qualities, like cooperation.

More masculine faces, however, suggest higher levels of risk-taking.

See on spring.org.uk

17
Nov
14

Amazon.com: Quantum Models of Cognition and Decision (9781107011991): Jerome R. Busemeyer, Peter D. Bruza: Books

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Quantum Models of Cognition and Decision

Product by Cambridge University Press ~ Peter D. Bruza (author) More about this product


List Price: $114.99
Price: $90.58
You Save: $24.41 (21%)

Much of our understanding of human thinking is based on probabilistic models. This innovative book by Jerome R. Busemeyer and Peter D. Bruza argues that, actually, the underlying mathematical structures from quantum theory provide a much better account of human thinking than traditional models. They introduce the foundations for modelling probabilistic-dynamic systems using two aspects of quantum theory. The first, ‘contextuality’, is a way to understand interference effects found with inferences and decisions under conditions of uncertainty. The second, ‘quantum entanglement’, allows cognitive phenomena to be modeled in non-reductionist ways. Employing these principles drawn from quantum theory allows us to view human cognition and decision in a totally new light. Introducing the basic principles in an easy-to-follow way, this book does not assume a physics background or a quantum brain and comes complete with a tutorial and fully worked-out applications in important areas of cognition and decision.

Source: www.amazon.com

See on Scoop.itBounded Rationality and Beyond

17
Nov
14

Amazon.com: Quantum Models of Cognition and Decision (9781107011991): Jerome R. Busemeyer, Peter D. Bruza: Books

See on Scoop.itBounded Rationality and Beyond

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Quantum Models of Cognition and Decision

Product by Cambridge University Press ~ Peter D. Bruza (author) More about this product


List Price: $114.99
Price: $90.58
You Save: $24.41 (21%)

Much of our understanding of human thinking is based on probabilistic models. This innovative book by Jerome R. Busemeyer and Peter D. Bruza argues that, actually, the underlying mathematical structures from quantum theory provide a much better account of human thinking than traditional models. They introduce the foundations for modelling probabilistic-dynamic systems using two aspects of quantum theory. The first, ‘contextuality’, is a way to understand interference effects found with inferences and decisions under conditions of uncertainty. The second, ‘quantum entanglement’, allows cognitive phenomena to be modeled in non-reductionist ways. Employing these principles drawn from quantum theory allows us to view human cognition and decision in a totally new light. Introducing the basic principles in an easy-to-follow way, this book does not assume a physics background or a quantum brain and comes complete with a tutorial and fully worked-out applications in important areas of cognition and decision.

See on amazon.com

17
Nov
14

Quantum Social Science: Emmanuel Haven, Andrei Khrennikov: 9781107012820: Amazon.com: Books

See on Scoop.itBounded Rationality and Beyond

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Quantum Social Science

~ Andrei Khrennikov (author) More about this product


List Price: $114.99
Price: $96.74
You Save: $18.25 (16%)

Written by world experts in the foundations of quantum mechanics and its applications to social science, this book shows how elementary quantum mechanical principles can be applied to decision-making paradoxes in psychology and used in modelling information in finance and economics. The book starts with a thorough overview of some of the salient differences between classical, statistical and quantum mechanics. It presents arguments on why quantum mechanics can be applied outside of physics and defines quantum social science. The issue of the existence of quantum probabilistic effects in psychology, economics and finance is addressed and basic questions and answers are provided. Aimed at researchers in economics and psychology, as well as physics, basic mathematical preliminaries and elementary concepts from quantum mechanics are defined in a self-contained way.

See on amazon.com

17
Nov
14

Why Economics Is Not A Science

See on Scoop.itBounded Rationality and Beyond

Economists like to pride themselves on their job and how scientific it is. Politics might be full of emotional rhetoric and unthought out ideas, but economists rely solely on cold hard facts. Flicking through my old textbooks, I see many references to “thinking like an economist” where we were supposed to cast aside fallacies and view the world with a rational and scientific eye. If only it were so. In reality, economics lacks the basis in real world evidence, the scientific method, and predictive power to be considered a science and is instead a highly politicised topic.

(Debates about whether economics is a science usually draw comparisons and analogies with science subject like physics. Unfortunately almost no one has studied both economics and physics so such analogies are unverifiable and can be used to claim absolutely anything).

The first major reason why economics is not a science is that a lot of it is not based on evidence. If you study economics you will spend a great deal of time studying perfect competition, a state of affairs that almost nowhere exists. Utility is another concept which plays a huge part in economics that is so vague and undefined that it is hard to know if it exists or how you can possibly maximise it. Rational actors, efficient markets, supply and demand are all concepts that are assumed without evidence to be true. In fact, textbooks are surprisingly evidence free and embarrassingly divorced from reality. Not that it gets any better as it goes on, my masters was an impenetrable maze of incomprehensible gobbly-gook taken to such an extreme level of abstraction that it resembled what I imagine a monkey and a keyboard would produce. (No, I didn’t enjoy it, why do you ask?) Economic journals can be so theoretical and abstract that it sometimes seems as though they are arguing over how many angels can stand on the head of a pin. What makes matters worse is that the evidence exists, it is not as though we are trying to find the Higgs Boson, there is no excuse for the failure to describe the real world and rely on excessively theoretical models.

See on robertnielsen21.wordpress.com

17
Nov
14

4 Ways We Are Not Rational And How It Affects Economics

See on Scoop.itBounded Rationality and Beyond

At the core of economics (especially economics teaching) is the idea that people are fundamentally rational, self-interested, utility maximising individuals who make decisions after logically considering all the relevant facts. As these people know best what’s best for themselves, these decisions are optimal for society. However, one of the newest and fastest growing school of thought is the Behavioural School which uses the insights of psychology to show that this simply is not the case. These insights are sometimes viewed only in isolation or glossed over as minor trivia. However, when you put all the different pieces together, you see that the conclusions are far reaching for how the economy operates.

 #neuroeconomy 
See on robertnielsen21.wordpress.com

17
Nov
14

Behavioural economics in policymaking: Andrew Leigh

The idea of behavioural economics is not new, but the application to policymaking is now being seriously considered. Small nudges can have a big impact.

While I was in graduate school, two of my classmates, Stefano DellaVigna and Ulrike Malmendier, carried out a study on gym visits. They obtained data from three Boston gyms, and analysed the attendance patterns of members. Dividing annual fees by the number of visits, they found that the typical gym member spent $17 per visit, even though casual visits cost only $10. In total, the average member loses $600 compared with if they had just paid as a casual. The title of the paper? Paying not to go to the gym.

Over recent decades, the field of behavioural economics has taken off. Contrary to the assumptions of perfect rationality, full information, and a constant discount rate, economists have shown that we often make decisions that diverge from the standard model. A study of New York taxi drivers found that even though their hourly earnings are higher when it rains, they tend to go off shift earlier because they reach their target earnings.

Economists have shown that people are more likely to purchase a convertible if they test-drive it on a sunny day, and will pay more for a house with a swimming pool if the sale takes place in summer. Conversely, people are more likely to buy black cars on cloudy days, and more likely to enrol in a university if they visit its campus on a cloudy day (cloudiness increases the appeal of academic activities).

Source: www.themandarin.com.au

See on Scoop.itBounded Rationality and Beyond




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