Archivio per gennaio 2015

31
Gen
15

Paving the way in neuroeconomics

See on Scoop.itBounded Rationality and Beyond

Why the Erasmus Centre for Neuroeconomics is making a name for itself in research that applies brain-scanning technology to economics and marketing issues.

A recent neuromarketing world forum held in New York enticed business leaders and academics from around the world to ‘Rethink Advertising’ and learn the secrets behind the ‘Success of iconic brands’.

On the agenda of the event, at which RSM’s Professor Ale Smidts was a keynote speaker, were the latest studies to emerge from a small but elite group of business schools demonstrating ways in which brain-imaging technology can advance our understanding of – and ability to predict – consumer behaviour. Among the research presented were case studies with consumer giants Estee Lauder and Fox Sports.

Neuroeconomics – and its more applied offspring “neuromarketing” – is currently one of the fastest growing and revolutionary areas in management and economic research. It unabashedly crosses the boundaries of academic disciplines, borrowing insights and high-tech medical tools from neuroscience and applying them to questions of a business or economic nature.

The field is gaining the endorsement of some of the world’s leading academic institutions – among them the Erasmus Centre for Neuroeconomics. And companies are following suit. Because while its research methods are novel, perhaps most intriguing about this field is its potential to produce revelatory new knowledge that is of interest to both scientists and practitioners.

 
See on discovery.rsm.nl

31
Gen
15

Ariely: Behavioral economics – applied social science

See on Scoop.itBounded Rationality and Beyond
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The basic starting point is that in standard economics you assume that people are perfectly rational and you try to understand why they behave in the way that they do. But the starting point is that people are perfectly rational. For example, you see people are obese. You don’t ask if obesity is the right choice. You assume obesity is the right choice for people. And then you say: ‘Why do they choose this?’ You would say perhaps that people enjoy food more than they care about living. Life is just not that good, food is fantastic, people are making the right trade-off. But you assume that people are making the right decision. In behavioural economics we’re kind of agnostic. We’re basically saying we don’t know if people are rational or irrational, let’s just examine how people behave. And because of that we often find that people don’t behave rationally and we have very different conclusions. With obesity we might say that people might want to be healthy and live longer and feel better about themselves, but doughnuts are very hard to resist. And chocolate cake at the end of the meal is hard to resist. And people have no clue about how these things accumulate and it’s a slow progression of time of obesity and we don’t see it happening every time. So we have lots of reasons of why people behave like this.

Now, I think there are two usages for behavioural economics. One is to attack economics. I think this is useful not so much because economics deserves more attacking than any other discipline, but because economics has been more influential on policy and business. So if economics had stayed in academia and people had taught economics and it had never become the social science of choice for policy and business, I don’t think we would have attacked economics. There would be no reason for that. The reason most people attack economics is not because we want to change economics. It’s because we want to change the people who use economics for practical purposes. I love economics. Economics has lots of wonderful things. I want people to study economics as it is. I don’t want everything to be behavioural economics. Economists should do what economists do, but when people use them for policy, for business, they should say: ‘Let’s be careful about using it.’

The second type of behavioural economics, which I actually care more about, is really about applied social science. It’s saying it’s not just about economics or psychology or sociology or anthropology, it’s really about creating a new world for ourselves. We keep on creating new things in it. Computer interfaces, technology, food, space travel. We’re doing so many things. How do the things that we’re doing fit with our own ability to make good and wrong decisions? Let’s try and just figure it out. The nice thing about it, if you think about history, you just look back. The nice thing about social sciences, we’re envisioning the future. So we can ask ourselves, if you’re going to create a different version of Facebook, one that would actually increase productivity, what would it look like? If you created a new way for people to take medication, what would it look like? So we don’t just ask questions about the past, we ask questions about the future. We ask questions about how would you engineer the world, how would you design the world in a way that you move it forward in a way that is more beneficial. So for me it’s all about using social science in the experimental strategy as a tool to figure out where we are, what we do well and what kind of future we want to create for ourselves.

See on vimeo.com

31
Gen
15

Behavioral Science

See on Scoop.itBounded Rationality and Beyond
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This is “Behavioral Science” by Behavioral Science Lab on Vimeo, the home for high quality videos and the people who love them.

See on vimeo.com

31
Gen
15

What makes a discipline ‘mathematical’?

See on Scoop.itBounded Rationality and Beyond

While walking to work on Friday, I was catching up on one of my favorite podcasts: The History of Philosophy without any Gaps. To celebrate the podcast’s 200th episode, Peter Adamson was interviewing Jill Kraye and John Marenbon on medieval philosophy. The podcasts was largely concerned with where we should define the temporal boundaries of medieval philosophy, especially on the side that bleeds into the Renaissance. A non-trivial, although rather esoteric question — even compared to some of the obscure things I go into on this blog, and almost definitely offtopic for TheEGG — but it is not what motivated me to open today’s post with this anecdote. Instead, I was caught by Jill Kraye’s passing remark:

See on egtheory.wordpress.com

31
Gen
15

Internet of Things (IoT): The Third Wave

See on Scoop.itSocial Foraging

The Internet of Things (IoT) is the network of physical objects accessed through the Internet. These objects contain embedded technology to interact with internal states or the external environment. In other words, when objects can sense and communicate, it changes how and where decisions are made, and who makes them. For example Nest thermostats.

The Internet of Things (IoT) is emerging as the third wave in the development of the Internet. The 1990s’ Internet wave connected 1 billion users while the 2000s’ mobile wave connected another 2 billion. The IoT has the potential to connect 10X as many (28 billion) “things” to the Internet by 2020, ranging from bracelets to cars. Breakthroughs in the cost of sensors, processing power and bandwidth to connect devices are enabling ubiquitous connections right now. Smart products like smart watches and thermostats (Nest) are already gaining traction as stated in Goldman Sachs Global Investment Research’s report.

IoT has key attributes that distinguish it from the “regular” Internet, as captured by Goldman Sachs’s S-E-N-S-E framework: Sensing, Efficient, Networked, Specialized, Everywhere. These attributes may tilt the direction of technology development and adoption, with significant implications for Tech companies – much like the transition from the fixed to the mobile Internet shifted the center of gravity from Intel to Qualcomm or from Dell to Apple.

See on bbvaopenmind.com

31
Gen
15

An approach towards ethics: neuroscience and development

See on Scoop.itBounded Rationality and Beyond

For me personally it has always been a struggle, reading through all the philosophical and religious literature I have a long standing interest in, to verbalize my intuitive concept of morals in any satisfactory way. Luckily for me, once I’ve started reading up on modern psychology and neuroscience, I found out that there are empirical models based on clustering of the abundant concepts that correlate well with both our cultured intuitions and our knowledge of brain functioning. Models that are for the studies of Ethics what the Big Five traits are for personality theories or what the Cattell-Horn-Carroll theory is for cognitive abilities.  In this post I’m going to provide an account of research of what is the most elucidating level of explanation of human morals – that of neuroscience and psychology. The following is not meant as a comprehensive review, but a sample of what I consider the most useful explanatory tools. The last section touches briefly upon genetic and endocrinological component of human morals, but it is nothing more than a mention. Also, I’ve decided to omit citations in quotes, because I don’t want to include into the list of reference the research I am personally unfamiliar with.

See on egtheory.wordpress.com

31
Gen
15

Anxious Leaders Make Better Decisions

See on Scoop.itBounded Rationality and Beyond

Cass R. Sunstein is the law professor who with economist RichardThaler introduced the world to “nudge”, a concept that they say shows how governments and other organizations can encourage individuals to make better decisions. The idea and the book of the same name struck a chord with President Barack Obama and UK Prime Minister David Cameron and led to Sunstein spending a period in the Obama Administration. Now back in academe, Sunstein is still thinking about how people make decisions and with a new co-author, Reid Hastie, a  professor of behavioral science at the University of Chicago, has published a book that claims to challenge the notion that decisions made by groups are better than those made by people on their own.

See on forbes.com

31
Gen
15

Sistemica: istruzioni per l’uso

See on Scoop.itBounded Rationality and Beyond

 Summary 

The systemic approach has always been an integral part of the scientific activity and, contrary to some current simplifications, it has never been in conflict with the reduc-tionist approach. In times of strongest crossing interdisciplinary dynamics, the debate on the meaning of systemic requires a new understanding and we feel the need for a more theoretical foundation. These reflections intend to frame the problem from the point of view of theoretical physics 

See on aiems.eu

30
Gen
15

Network Analysis in the Legal Domain: A complex model for European Union legal sources

See on Scoop.itBounded Rationality and Beyond
Legislators, designers of legal information systems, as well as citizens face often problems due to the interdependence of the laws and the growing number of references needed to interpret them. Quantifying this complexity is not an easy task. In this paper, we introduce the “Legislation Network” as a novel approach to address related problems. We have collected an extensive data set of a more than 60-year old legislation corpus, as published in the Official Journal of the European Union, and we further analysed it as a complex network, thus gaining insight into its topological structure. Among other issues, we have performed a temporal analysis of the evolution of the Legislation Network, as well as a robust resilience test to assess its vulnerability under specific cases that may lead to possible breakdowns. Results are quite promising, showing that our approach can lead towards an enhanced explanation in respect to the structure and evolution of legislation properties
See on arxiv.org

30
Gen
15

What is sociometry?

See on Scoop.itBounded Rationality and Beyond

What is sociometry?

Pioneer of sociometry, Dr. Jakob Moreno, defined it as “the inquiry into the evolution and organisation of groups and the position of individuals within them.” He went on to describe it as “the …science of group organization – it attacks the problem not from the outer structure of the group, the group surface, but from the inner structure. Sociometric explorations reveal the hidden structures that give a group its form: the alliances, the subgroups, the hidden beliefs, the forbidden agendas, the ideological agreements, the ‘stars’ of the show.”

Sociometry aims to bring about greater spontaneity (willingness to act) and creativity within groups of people.  Greater spontaneity and creativity brings about greater group task effectiveness and satisfaction amongst its members.  Sociometry teaches us that the quality of an outcome is directly related to the quality of relationship between the people trying to generate that outcome.  Research sociometry is an exploration of the social networks within which we exist.  This type of enquiry provides us with social maps and shows us how strongly people are connected to each other.  The full power of sociometry is realised when people have access to the information on such maps and are then able to make meaning of it themselves and to engage with each other about what lies behind their social choices.  Sociometry emphasises encounter.  Applied, or action, sociometry uses a range of methods to assist groups to uncover, develop and deepen their social connections.  So, in a workplace for example, using a question such as “Who would you go to if you needed advice on a work problem,” applied sociometry invites people to make those choices overt and then to discuss what lies behind those choices:  Why did you choose this person?  Why did you choose me?  What does that information mean and what can we do with it so that we can get better at achieving our shared purpose?

See on quantumshifting.wordpress.com




Time is real? I think not

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