Archivio per aprile 2016



19
Apr
16

A Taxonomy of Behavioral Risk

Psychologists and investment professionals have now identified over 100 separate biases, heuristics and cognitive quirks that cause us to make poor financial decisions. While this work is important, it is also unwieldy for the average investor who has a basic notion that behavior matters but is unable to track and protect against such a broad universe of potential error. Understanding that these 100+ errors are all undergird by a few common psychological tendencies, Nocturne Capital created this Behavioral Risk Taxonomy. The 5 general themes here encompass all of the individual errors but also provide a simple framework from which advisory and investment processes can be constructed that seek to overcome these tendencies. The ideas presented in the document linked below were instrumental in designing our investment process and we hope they are similarly instructive in your own efforts at compounding meaningful wealth. Behavioral Risk Taxonomy

Sourced through Scoop.it from: www.nocturnecapital.com

See on Scoop.itBounded Rationality and Beyond

19
Apr
16

A Taxonomy of Behavioral Risk

See on Scoop.itBounded Rationality and Beyond

Psychologists and investment professionals have now identified over 100 separate biases, heuristics and cognitive quirks that cause us to make poor financial decisions. While this work is important, it is also unwieldy for the average investor who has a basic notion that behavior matters but is unable to track and protect against such a broad universe of potential error. Understanding that these 100+ errors are all undergird by a few common psychological tendencies, Nocturne Capital created this Behavioral Risk Taxonomy. The 5 general themes here encompass all of the individual errors but also provide a simple framework from which advisory and investment processes can be constructed that seek to overcome these tendencies. The ideas presented in the document linked below were instrumental in designing our investment process and we hope they are similarly instructive in your own efforts at compounding meaningful wealth. Behavioral Risk Taxonomy

See on nocturnecapital.com

19
Apr
16

How To Spend Money So It Brings You More Wellbeing – PsyBlog

Spending money so that it increases your happiness and wellbeing is an art form in itself. People who spend more on things that fit with their personality traits are happier, new research finds. For example, extroverted people are happier spending money in a restaurant. In contrast, the introverted get more pleasure from spending money in bookshops. A better fit between spending and personality was linked to life satisfaction more than total wealth or total spending. In other words: it matters less how much you have or how much you spend — what really matters is what you spend it on.

Sourced through Scoop.it from: www.spring.org.uk

See on Scoop.itBounded Rationality and Beyond

19
Apr
16

How To Spend Money So It Brings You More Wellbeing – PsyBlog

See on Scoop.itBounded Rationality and Beyond

Spending money so that it increases your happiness and wellbeing is an art form in itself. People who spend more on things that fit with their personality traits are happier, new research finds. For example, extroverted people are happier spending money in a restaurant. In contrast, the introverted get more pleasure from spending money in bookshops. A better fit between spending and personality was linked to life satisfaction more than total wealth or total spending. In other words: it matters less how much you have or how much you spend — what really matters is what you spend it on.

See on spring.org.uk

14
Apr
16

The SJDM Newsletter is ready for download – Decision Science News

See on Scoop.itBounded Rationality and Beyond

The quarterly Society for Judgment and Decision Making newsletter can be downloaded from the SJDM site.

See on decisionsciencenews.com

14
Apr
16

How the brain produces consciousness in “time slices”

EPFL scientists propose a new way of understanding of how the brain processes unconscious information into our consciousness. According to the model, consciousness arises only in time intervals of up to 400 milliseconds, with gaps of unconsciousness in between. The driver ahead suddenly stops, and you find yourself stomping on your breaks before you even realize what is going on. We would call this a reflex, but the underlying reality is much more complex, forming a debate that goes back centuries: Is consciousness a constant, uninterrupted stream or a series of discrete bits – like the 24 frames-per-second of a movie reel? Scientists from EPFL and the universities of Ulm and Zurich, now put forward a new model of how the brain processes unconscious information, suggesting that consciousness arises only in intervals up to 400 milliseconds, with no consciousness in between. The work is published in PLoS Biology.

 

Consciousness seems to work as continuous stream: one image or sound or smell or touch smoothly follows the other, providing us with a continuous image of the world around us. As far as we are concerned, it seems that sensory information is continuously translated into conscious perception: we see objects move smoothly, we hear sounds continuously, and we smell and feel without interruption. However, another school of thought argues that our brain collects sensory information only at discrete time-points, like a camera taking snapshots. Even though there is a growing body of evidence against “continuous” consciousness, it also looks like that the “discrete” theory of snapshots is too simple to be true.

 

Michael Herzog at EPFL, working with Frank Scharnowski at the University of Zurich, have now developed a new paradigm, or “conceptual framework”, of how consciousness might actually work. They did this by reviewing data from previously published psychological and behavioral experiments that aim to determine if consciousness is continuous or discrete. Such experiments can involve showing a person two images in rapid succession and asking them to distinguish between them while monitoring their brain activity.

 

The new model proposes a two-stage processing of information. First comes the unconscious stage: The brain processes specific features of objects, e.g. color or shape, and analyzes them quasi-continuously and unconsciously with a very high time-resolution. However, the model suggests that there is no perception of time during this unconscious processing. Even time features, such as duration or color change, are not perceived during this period. Instead, the brain represents its duration as a kind of “number”, just as it does for color and shape.

 

Then comes the conscious stage: Unconscious processing is completed, and the brain simultaneously renders all the features conscious. This produces the final “picture”, which the brain finally presents to our consciousness, making us aware of the stimulus.

Sourced through Scoop.it from: actu.epfl.ch

Well, the title does not describe the content: the text says how the brain processes information, not how it “produces” consciousness

See on Scoop.itConscience et champ – Field and consciousness

14
Apr
16

How the brain produces consciousness in “time slices”

See on Scoop.itConscience et champ – Field and consciousness

EPFL scientists propose a new way of understanding of how the brain processes unconscious information into our consciousness. According to the model, consciousness arises only in time intervals of up to 400 milliseconds, with gaps of unconsciousness in between. The driver ahead suddenly stops, and you find yourself stomping on your breaks before you even realize what is going on. We would call this a reflex, but the underlying reality is much more complex, forming a debate that goes back centuries: Is consciousness a constant, uninterrupted stream or a series of discrete bits – like the 24 frames-per-second of a movie reel? Scientists from EPFL and the universities of Ulm and Zurich, now put forward a new model of how the brain processes unconscious information, suggesting that consciousness arises only in intervals up to 400 milliseconds, with no consciousness in between. The work is published in PLoS Biology.

Consciousness seems to work as continuous stream: one image or sound or smell or touch smoothly follows the other, providing us with a continuous image of the world around us. As far as we are concerned, it seems that sensory information is continuously translated into conscious perception: we see objects move smoothly, we hear sounds continuously, and we smell and feel without interruption. However, another school of thought argues that our brain collects sensory information only at discrete time-points, like a camera taking snapshots. Even though there is a growing body of evidence against “continuous” consciousness, it also looks like that the “discrete” theory of snapshots is too simple to be true.

Michael Herzog at EPFL, working with Frank Scharnowski at the University of Zurich, have now developed a new paradigm, or “conceptual framework”, of how consciousness might actually work. They did this by reviewing data from previously published psychological and behavioral experiments that aim to determine if consciousness is continuous or discrete. Such experiments can involve showing a person two images in rapid succession and asking them to distinguish between them while monitoring their brain activity.

The new model proposes a two-stage processing of information. First comes the unconscious stage: The brain processes specific features of objects, e.g. color or shape, and analyzes them quasi-continuously and unconsciously with a very high time-resolution. However, the model suggests that there is no perception of time during this unconscious processing. Even time features, such as duration or color change, are not perceived during this period. Instead, the brain represents its duration as a kind of “number”, just as it does for color and shape.

Then comes the conscious stage: Unconscious processing is completed, and the brain simultaneously renders all the features conscious. This produces the final “picture”, which the brain finally presents to our consciousness, making us aware of the stimulus.

Philippe Vallat’s insight:

Well, the title does not describe the content: the text says how the brain processes information, not how it “produces” consciousness

See on actu.epfl.ch




Time is real? I think not

aprile: 2016
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