Archivio per 25 giugno 2016

25
Giu
16

Academy of Behavioral Economics 2016 – Testimonials from Gottlieb Duttweiler Institute on Vimeo.

Annunci
25
Giu
16

The Evolutionary Roots of Human Decision Making

See on Scoop.itBounded Rationality and Beyond

Abstract 

Humans exhibit a suite of biases when making economic decisions. We review recent research on the origins of human decision making by examining whether similar choice biases are seen in nonhuman primates, our closest phylogenetic relatives. We propose that comparative studies can provide insight into four major questions about the nature of human choice biases that cannot be addressed by studies of our species alone. First, research with other primates can address the evolution of human choice biases and identify shared versus human-unique tendencies in decision making. Second, primate studies can constrain hypotheses about the psychological mechanisms underlying such biases. Third, comparisons of closely related species can identify when distinct mechanisms underlie related biases by examining evolutionary dissociations in choice strategies. Finally, comparative work can provide insight into the biological rationality of economically irrational preferences. 

See on ncbi.nlm.nih.gov

25
Giu
16

The ‘Brexit’ Vote Means It’s Crunch Time for the Global Economy

See on Scoop.itBounded Rationality and Beyond

It’s the end of the E.U. as we know it, and markets are already having a very painful reaction to the news.

Foroohar is an assistant managing editor at TIME and the magazine’s economics columnist. She’s the author of Makers and Takers: The Rise of Finance and the Fall of American Business. It’s quite telling that the markets were only pricing in about a 25% chance that Britain would vote to leave the European Union. As studies have shown, there’s a larger trust gap than ever before between global elites and the mass populations in various countries. The fact that Wall Street so badly misinterpreted the desires of Main Street is, in some ways, no surprise. Markets have been terrible at predicting populism in the last few years, both in Europe and in the U.S.

See on time.com

25
Giu
16

ECONOMIST: Brexit is a perfect example of irrational behavior

See on Scoop.itBounded Rationality and Beyond

(Vote Leave supporters wait for London Mayor Boris Johnson to address campaigners during a rally for the ‘Vote Leave’ campaign on April 15, 2016 in Manchester, England. Boris Johnson is taking part in a 48 hour ‘Brexit Blitz’ of campaigning in Northern England. Britain will vote either to leave or remain in the EU in a referendum on June 23.Christopher Furlong/Getty) Much of economic theory is built on the assumption that individuals are rational. They act out of self-interest, they run cost-benefit analyses, they don’t make mistakes. If they’re deciding whether or not they want something, they figure out what it will cost and how happy they’ll be if they have it, and they act — or vote — accordingly. Of course, people in the real world don’t quite work like that. The upcoming Brexit vote is a good example of individuals diverging from this kind of purely rational behavior, according to Richard Thaler, a behavioral economist at the University of Chicago Booth School of Business. The British citizens who are campaigning to leave the EU aren’t acting or thinking the way traditional economics would expect them to.

See on m.yahoo.com




Time is real? I think not

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