Archivio per 26 novembre 2014

26
Nov
14

Cognitive load and strategic sophistication – Munich Personal RePEc Archive

Abstract

 

We study the relationship between the cognitive load manipulation and strategic sophistication. The cognitive load manipulation is designed to reduce the subject’s cognitive resources that are available for deliberation on a choice. In our experiment, subjects are placed under a high cognitive load (given a difficult number to remember) or a low cognitive load (given a number that is not difficult to remember). Subsequently, the subjects play a one-shot game then they are asked to recall the number. This procedure is repeated for various games. We find a nuanced and nonmonotonic relationship between cognitive load and strategic sophistication. This relationship is consistent with two effects. First, subjects under a high cognitive load tend to exhibit behavior consistent with the reduced ability to compute the optimal decision. Second, the cognitive load tends to affect the subject’s perception of their relative standing in the distribution of the available cognitive resources. The net result of these two opposing effects depends on the strategic setting. Our experiment provides evidence on the literature that examines the relationship between measures of cognitive ability and strategic sophistication.

 #neuroeconomy

 

Source: mpra.ub.uni-muenchen.de

See on Scoop.itBounded Rationality and Beyond

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26
Nov
14

Cognitive load and strategic sophistication – Munich Personal RePEc Archive

See on Scoop.itBounded Rationality and Beyond

Abstract

We study the relationship between the cognitive load manipulation and strategic sophistication. The cognitive load manipulation is designed to reduce the subject’s cognitive resources that are available for deliberation on a choice. In our experiment, subjects are placed under a high cognitive load (given a difficult number to remember) or a low cognitive load (given a number that is not difficult to remember). Subsequently, the subjects play a one-shot game then they are asked to recall the number. This procedure is repeated for various games. We find a nuanced and nonmonotonic relationship between cognitive load and strategic sophistication. This relationship is consistent with two effects. First, subjects under a high cognitive load tend to exhibit behavior consistent with the reduced ability to compute the optimal decision. Second, the cognitive load tends to affect the subject’s perception of their relative standing in the distribution of the available cognitive resources. The net result of these two opposing effects depends on the strategic setting. Our experiment provides evidence on the literature that examines the relationship between measures of cognitive ability and strategic sophistication.

 #neuroeconomy
See on mpra.ub.uni-muenchen.de

26
Nov
14

Predictable and Predictive Emotions: Explaining Cheap Signals and Trust Re-Extension

Abstract

 

Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even more puzzling to economists and biologists is the observation that anonymous and unrelated individuals, known to have breached trust, often make effective use of cheap signals, such as promises and apologies, to encourage trust re-extension. We used a pair of trust games with one-way communication and an emotion survey to investigate the role of emotions in regulating the propensity to message, apologize, re-extend trust, and demonstrate trustworthiness. This design allowed us to observe the endogenous emergence and natural distribution of trust-relevant behaviors, remedial strategies used by promise-breakers, their effects on behavior, and subsequent outcomes. We found that emotions triggered by interaction outcomes are predictable and also predict subsequent apology and trust re-extension. The role of emotions in behavioral regulation helps explain why messages are produced, when they can be trusted, and when trust will be re-extended.

 

Source: mpra.ub.uni-muenchen.de

See on Scoop.itBounded Rationality and Beyond

26
Nov
14

Predictable and Predictive Emotions: Explaining Cheap Signals and Trust Re-Extension

See on Scoop.itBounded Rationality and Beyond

Abstract

Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even more puzzling to economists and biologists is the observation that anonymous and unrelated individuals, known to have breached trust, often make effective use of cheap signals, such as promises and apologies, to encourage trust re-extension. We used a pair of trust games with one-way communication and an emotion survey to investigate the role of emotions in regulating the propensity to message, apologize, re-extend trust, and demonstrate trustworthiness. This design allowed us to observe the endogenous emergence and natural distribution of trust-relevant behaviors, remedial strategies used by promise-breakers, their effects on behavior, and subsequent outcomes. We found that emotions triggered by interaction outcomes are predictable and also predict subsequent apology and trust re-extension. The role of emotions in behavioral regulation helps explain why messages are produced, when they can be trusted, and when trust will be re-extended.

See on mpra.ub.uni-muenchen.de

26
Nov
14

Neuroalgorithmicmedia – How algorithmic bidding in paid search mirrors how the human brain makes decisions.

The human brain is the most advanced super computer in the universe, with over 100 billion neurons responsible for every conscious and subconscious decision/ action we make. It is hypothesized by some neuroscientists that the decisions we make are nothing more than the rate in which neurons fire within specific parts of our brain. Studies have demonstrated that the decisions we make are, in great part, executed within the orbitofrontal cortex. This is the brain’s decision engine. The decision process is influenced by a risk assessment and a reward assessment. The risk assessment modulated by the amygdala and the reward assessment modulated by the nucleus accumbens. The decision making process in our brains is quite a bit more complicated than the above, but for the most part these are the regions of our brains that modulate and carry out our decisions.

Source: www.linkedin.com

See on Scoop.itBounded Rationality and Beyond

26
Nov
14

Neuroalgorithmicmedia – How algorithmic bidding in paid search mirrors how the human brain makes decisions.

See on Scoop.itBounded Rationality and Beyond

The human brain is the most advanced super computer in the universe, with over 100 billion neurons responsible for every conscious and subconscious decision/ action we make. It is hypothesized by some neuroscientists that the decisions we make are nothing more than the rate in which neurons fire within specific parts of our brain. Studies have demonstrated that the decisions we make are, in great part, executed within the orbitofrontal cortex. This is the brain’s decision engine. The decision process is influenced by a risk assessment and a reward assessment. The risk assessment modulated by the amygdala and the reward assessment modulated by the nucleus accumbens. The decision making process in our brains is quite a bit more complicated than the above, but for the most part these are the regions of our brains that modulate and carry out our decisions.

See on linkedin.com

26
Nov
14

How To Use Music To Boost Athletic Performance — PsyBlog

Research reveals which types of music improve which types of athletic performance. 
Listening to jazz can improve your performance on the putting green, according to a new study. And jazz is not the only music that’s been linked to athletic performance, as one of the study’s authors Dr. Ali Boolani explains: “Other research has shown that country music improves batting, rap music improves jump shots and running is improved by any up-tempo music. But the benefit of music in fine motor control situations was relatively unknown. Hopefully, this is the first step in answering this question.”
In the small experiment, 20 good golfers tried five different putts while listening to one of the following types of music:

Source: www.spring.org.uk

See on Scoop.itBounded Rationality and Beyond




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