Archivio per 23 luglio 2015

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A Simple Mind Trick Will Help You Think More Rationally | Big Think

See on Scoop.itBounded Rationality and Beyond

Emotions can cloud our rational decision-making. By adopting the perspective of an outside advisor, psychologist Dan Ariely says we can inject some rationality into our cognitive processes.

See on bigthink.com

23
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Chapter 1: Investor Behavior: An Overview

See on Scoop.itBounded Rationality and Beyond

“Investor Behavior: An Overview” is the introduction chapter for the book Investor Behavior: The Psychology of Financial Planning and Investing edited by H. Kent Baker and Victor Ricciardi that presents a historical perspective of investor psychology

See on academia.edu

23
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How Biases Affect Investor Behaviour

See on Scoop.itBounded Rationality and Beyond

Investor behaviour often deviates from logic and reason, and investors display many behaviour biases that influence their investment decision-making processes. The authors describe some common behavioural biases and suggest how to mitigate them.

See on academia.edu

23
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15

How Walking in Nature Changes the Brain

See on Scoop.itPsychology, Sociology & Neuroscience

A walk in the park may soothe the mind and, in the process, change the workings of our brains in ways that improve our mental health.

See on well.blogs.nytimes.com

23
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Topological data analysis of contagion maps for examining spreading processes on networks

See on Scoop.itSocial Foraging

Social and biological contagions are influenced by the spatial embeddedness of networks. Historically, many epidemics spread as a wave across part of the Earth’s surface; however, in modern contagions long-range edges—for example, due to airline transportation or communication media—allow clusters of a contagion to appear in distant locations. Here we study the spread of contagions on networks through a methodology grounded in topological data analysis and nonlinear dimension reduction. We construct ‘contagion maps’ that use multiple contagions on a network to map the nodes as a point cloud. By analysing the topology, geometry and dimensionality of manifold structure in such point clouds, we reveal insights to aid in the modelling, forecast and control of spreading processes. Our approach highlights contagion maps also as a viable tool for inferring low-dimensional structure in networks.

See on nature.com

23
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Nudgespotting: A Ballot, an Email, and Stairs

See on Scoop.itBounded Rationality and Beyond

Each week I’ll take a quick look at three real-world nudges. This week I
look at Greece’s referendum ballot design, a helpful reminder from Porter
Airlines, and stairs that push individuals to exercise. 

On July 5, Greece’s public voted on bailout conditions proposed by the EU and the IMF. The ballot placed a ‘No’ before a ‘Yes,’ which is largely unprecedented for a referendum. ABBC article quoted an expert on electoral reform, stating that the format of the ballot is “unusual.” Could placing the ‘No’ first actually affect the way individuals voted? 

There’s no way to know, since it wasn’t tested in this context (missed opportunity for behavioralists!), but the Greek public ended up voting ‘No’ with 61% of the vote. Read about the behavioral implications of this ballot’s design from Jon Jachimowicz and Sam McNerney here.

And for some more nefarious uses of nudging in ballot design, check out Chile’s 1978 referendum on the approval of its President’s policies (‘yes’ is higher and coupled with Chile’s flag), or Germany’s 1938 ballot on unification of Austria and Germany and approval of Hitler (which provided a large ‘yes’ and a small ‘no’).

See on misbehavingbook.org

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Behavioural insights give policy a nudge | Civil Service

See on Scoop.itBounded Rationality and Beyond

I have always been passionate about using evidence to create more effective public services and influence for the better the decisions people make in their everyday lives.

In my first public intervention as Cabinet Secretary, I talked about the benefits to the nation’s health of the evidence-based work of the National Institute for Health and Care Excellence (NICE). And I asked a question: if NICE makes sense for medicine, why don’t we have a NICE for the other public services? This was only partly rhetorical.

Four years on, we have seven What Works Centres along the lines of NICE, operating across the policy spectrum, from crime to wellbeing, to help establish more effective policies, both in impact and cost.

See on civilservice.blog.gov.uk

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Politicians learn power of using nudge technique – BBC News

See on Scoop.itBounded Rationality and Beyond

It is claimed to be saving the government hundreds of millions of pounds, changing the way officials communicate with taxpayers and consumers.

It is a technique pioneered by The Behavioural Insights Team, which is part-funded by the government.

So-called ‘nudging’ uses psychology to work out the best way to help job centres, tax collectors, health officials and others improve the way they deliver public services.

Mark Easton reports.

See on bbc.com

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BX2015 | Behavioural Exchange Insights Conference 2015

See on Scoop.itBounded Rationality and Beyond

Welcome to BX2015 – the Behavioural Insights Conference 2015. Held at the Park Plaza Westminster Bridge, London. September 2nd-3rd 2015.

See on bx2015.org

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» The Behavioural Insights Team Update 2013-2015 | The Behavioural Insights Team

See on Scoop.itBounded Rationality and Beyond

The Update Report covers the past two years of the Behavioural Insights Team’s work.

The report contains many new results, including:

Raising the pass rate for ethnic minority applicants to the police on a key exam from 40 to 60 percent, closing the gap with white applicants entirely, by prompting applicants to think about why the job was important to ‘you and your community’.Reducing the drop-out rate from Further Education course by a third, by sending encouraging texts such as at the end of half-term breaks.Doubling the completed application rates to join the Army Reserve by sending an email from a serving officer talking about their experiences.Increasing the payment rates by the top 1 percent of tax-debtors by 43 percent without further prompts, by highlighting the impact on public services of non-payment.

It’s been an exciting period for the team. We’ve managed to expand the breadth and scale of our work (having now run more than 100 trials across almost every area of policy). But the core of what we do remains the same as when we started life in No10 5 years ago: making public services more cost-effective and easier for citizens to use; improving outcomes by introducing a more realistic model of human behaviour to policy; and wherever possible, enabling people to make ‘better choices for themselves’.

 
See on behaviouralinsights.co.uk




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