Archive for the 'Scoop.it' Category

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Stirling Behavioural Science Blog : Loss aversion in penalty shootouts

Kahneman discusses this phenomenon in his book Thinking Fast and Slow in the context of golf, where loss aversion actually improves performance:

“Failing to make par is a loss, but missing a birdies putt is a foregone gain, not a loss. [Devin] Pope and [Maurice] Schweitzer reasoned from loss aversion that players would try a little harder when putting for par (to avoid a bogey) than when putting for a birdie. They analyzed more than 2.5 million putts in exquisite detail to test that prediction. They were right. Whether the putt was easy or hard, at every distance from the hole, the players were more successful when putting for par [i.e. avoiding a loss] than for a birdie [i.e. achieving a gain]. The difference in their rate of success when going for par (to avoid a bogey) or for a birdie was 3.6%. 

This difference is not trivial. Tiger Woods was one of the “participants” in their study. If in his best years Tiger Woods had managed to putt as well for birdies as he did for par, his average tournament score would have improved by one stroke and his earnings by almost $1 million per season.”

Source: economicspsychologypolicy.blogspot.it

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Social norms, morals and self-interest as determinants of pro-environment behaviour

Abstract: This paper considers the role which selfish, moral and social incentives and pressures play in explaining the extent to which stated choices over pro-environment behaviours vary across individuals. The empirical context is choices over household waste contracts and recycling actions in Poland. A theoretical model is used to show how cost-based motives and the desire for a positive self- and social image combine to determine the utility from alternative choices of recycling behaviour. We then describe a discrete choice experiment designed to empirically investigate the effects such drivers have on stated choices. Using a latent class model, we distinguish three types of individual who are described as duty-orientated recyclers, budget recyclers and homo oeconomicus. These groups vary in their preferences for how frequently waste is collected, and the number of categories into which household waste must be recycled. Our results have implications for the design of future policies aimed at improving participation in recycling schemes.

Source: www.wne.uw.edu.pl

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A Theory of Representative Behavior in the Dictator Game

Abstract: In this paper we present a model of representative behavior in the dictator game. Individuals have simultaneous and non-contradictory preferences over monetary payoffs, altruistic actions and equity concerns. We require that these behaviors must be aggregated and founded in principles of representativeness and empathy. The model results match closely the observed mean split and replicate other empirical regularities (for instance, higher stakes reduce the willingness to give). In addition, we connect representative behavior with an allocation rule built on psychological and behavioral arguments. An approach consistently neglected in this literature. Key words: Dictator Game, Behavioral Allocation Rules, Altruism, Equity Concerns, Empathy, Self-interest JEL classification

Source: www.recercat.cat

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Cyberloafing at Work Makes You More Productive — PsyBlog

Surfing the web at work for leisure makes you 9% more productive, a new study finds. Now there’s something positive to tell your boss the next time you’re caught on Facebook or YouTube at work. A new study finds that taking a break at work to browse the internet can boost your performance at work (Coker, 2014).

Dr. Brent Coker of Melbourne University was inspired to carry out the research after he forwarded a YouTube video to his sister.

Source: www.spring.org.uk

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The Human Brain Project – Human Brain Project

Understanding the human brain is one of the greatest challenges facing 21st century science. If we can rise to it, we can gain profound insights into what makes us human, build revolutionary computing technologies and develop new treatments for brain disorders. Today, for the first time, modern ICT has brought these goals within reach.

 

The members of the HBP are saddened by the open letter posted on neurofuture.eu on 7 July 2014, as we feel that it divides rather than unifies our efforts to understand the brain. However, we recognize that the signatories have important concerns about the project. Here we try to clarify some of the main issues they touch on. We also invite the signatories to discuss their concerns in a direct scientific exchange with scientists leading the HBP and its subprojects.

 

Source: www.humanbrainproject.eu

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The scientific illusion of ‘modern’ macroeconomics

from Lars Syll Deductivist modeling endeavours and an overly simplistic use of statistical and econometric tools are sure signs of the explanatory hubris that still haunts neoclassical mainstream

economics.

In a recent interview Robert Lucas says he now believes that

the evidence on postwar recessions … overwhelmingly supports the dominant importance of real shocks.

So, according to Lucas, changes in tastes and technologies should be able to explain the main fluctuations in e.g. the unemployment that we have seen during the last six or seven decades. But really — not even a Nobel laureate could in his wildest imagination come up with any warranted and justified explanation solely based on changes in tastes and technologies.

The Chicago übereconomist is simply wrong. But how do we protect ourselves from this kind of scientific nonsense? In The Scientific Illusion in Empirical Macroeconomics Larry Summers has a suggestion well worth considering — not the least since it makes it easier to understand how mainstream neoclassical economics actively has contributed to causing today’s economic crisis rather than to solving it

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Source: rwer.wordpress.com

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Neuromarketing: Capitalism’s Mindfuck. Maybe.Critical-Theory.com

Marketers are always looking for new ways to get you to buy their useless shit. It’s no surprise then that the average consumer receives, on average, over 10,000 selling messages a day. But marketing, which was once an art of intuition, guessing and half-assed test groups, is becoming notably creepier. Enter neuromarketing, a rapidly growing field of study in neuroscience and marketing. Neuromarketing is the terrifying intersection between neuroscience’s continued exploration of the brain and advertising’s lust to exploit said exploration for profit. Neuromarketers use brain scans and neuroimaging to figure out which of those 10,000 messages will actually make us buy shit without thinking or questioning. In short, it’s like if “1984” and “They Live” had a baby and named it “exactly this.” The emerging field began in 1997 with an article written by Wolfram Shultz on the physiology of prediction and reward. It was Schultz’s work, in conjunction with other pioneering neuroscientists,

Source: www.critical-theory.com




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