Bounded Rationality and Beyond

Risk management is recognised as an essential tool to tackle the inevitable uncertainty associated with business and projects at all levels. But it frequently fails to meet expectations, with projects continuing to run late, over budget or under performing, and business not gaining the expected benefits. The evident disconnect which often occurs between strategic vision and tactical project delivery typically arises from poorly defined project objectives and inadequate attention to the proactive management of risks that could affect those objectives. One of the main failings in the traditional approach to risk management arises from a narrow focus on the downside, restricted to the technical or operational field, addressing tactical threats to processes, performance or people.
This shortcoming can be overcome by widening the scope of risk management to encompass both strategic risks and upside opportunities, creating an integrated approach which can bridge the gap between strategy and tactics. Integrated risk management addresses risks across a variety of levels in the organisation, including strategy and tactics, and covering both opportunity and threat. Effective implementation of integrated risk management can produce a number of benefits to the organisation which are not available from the typical limited-scope risk process. This paper explores how to expand risk management to deliver strategic advantage while retaining its use as a tactical tool.

Abstract
Darkness can conceal identity and encourage moral transgressions; it may also induce a psychological feeling of illusory anonymity that disinhibits dishonest and self-interested behavior regardless of actual anonymity. Three experiments provided empirical evidence for this prediction. In Experiment 1, participants in a slightly dim room cheated more and thus earned more underserved money than those in a well-lit room. In experiment 2, participants wearing sunglasses behaved more selfishly than those wearing clear glasses. Finally, in Experiment 3, an illusory sense of anonymity mediated the relationship between darkness and self-interested behaviors. Across all three experiments, darkness had no bearing on actual anonymity, yet it still increased morally questionable behaviors. We suggest that the experience of darkness, even one as subtle as wearing a pair of sunglasses, may induce a sense of anonymity that is disproportionate from actual anonymity in a given situation.

We explore the relationship between attractiveness and risk taking in chess. We use a large international panel dataset on chess competitions which includes a control for the players’ skill in chess. This data is combined with results from a survey on an online labor market where participants were asked to rate the photos of 626 expert chess players according to attractiveness. Our results suggest that male chess players choose significantly riskier strategies when playing against an attractive female opponent, even though this does not improve their performance. Women’s strategies are not affected by the attractiveness of the opponent.

An experimental investigation of possible anomalous heat production in a special type of reactor tube named E-Cat HT is carried out. The reactor tube is charged with a small amount of hydrogen loaded nickel powder plus some additives. The reaction is primarily initiated by heat from resistor coils inside the reactor tube. Measurement of the produced heat was performed with high-resolution thermal imaging cameras, recording data every second from the hot reactor tube. The measurements of electrical power input were performed with a large bandwidth three-phase power analyzer. Data were collected in two experimental runs lasting 96 and 116 hours, respectively. An anomalous heat production was indicated in both experiments. The 116-hour experiment also included a calibration of the experimental set-up without the active charge present in the E-Cat HT. In this case, no extra heat was generated beyond the expected heat from the electric input. Computed volumetric and gravimetric energy densities were found to be far above those of any known chemical source. Even by the most conservative assumptions as to the errors in the measurements, the result is still one order of magnitude greater than conventional energy sources.

Noninvasive brain stimulation provides a potential tool for affecting brain functions in the typical and atypical brain and offers in several cases an alternative to pharmaceutical intervention. Some studies have suggested that transcranial electrical stimulation (TES), a form of noninvasive brain stimulation, can also be used to enhance cognitive performance. Critically, research so far has primarily focused on optimizing protocols for effective stimulation, or assessing potential physical side effects of TES while neglecting the possibility of cognitive side effects. We assessed this possibility by targeting the high-level cognitive abilities of learning and automaticity in the mathematical domain. Notably, learning and automaticity represent critical abilities for potential cognitive enhancement in typical and atypical populations. Over 6 d, healthy human adults underwent cognitive training on a new numerical notation while receiving TES to the posterior parietal cortex or the dorsolateral prefrontal cortex. Stimulation to the the posterior parietal cortex facilitated numerical learning, whereas automaticity for the learned material was impaired. In contrast, stimulation to the dorsolateral prefrontal cortex impaired the learning process, whereas automaticity for the learned material was enhanced. The observed double dissociation indicates that cognitive enhancement through TES can occur at the expense of other cognitive functions. These findings have important implications for the future use of enhancement technologies for neurointervention and performance improvement in healthy population

Abstract
A number of studies have shown that the presence of simple images of
eyes in the environment increases prosocial behaviour in humans. However, questions remain about the robustness of the effect, its explanation and the factors promoting it. In particular, it is not yet clear whether this effect is restricted to contexts where there is a normative requirement to behave prosocially and thus where punishment is a likely consequence of failing to do so. In an 11-wk field experiment in a supermarket, we displayed either eye images or control images on charity collection buckets.
There was no normative requirement to donate in this setting, and most
people did not do so. However, the presence of eye images increased
donations by 48% relative to control images. The effect of eye images was
significantly stronger at times when the supermarket was quiet rather than busy. Results are consistent with models of the evolution of prosociality through reputation-based partner choice and have potential practical benefits for those involved in charitable fundraising.

Noninvasive brain stimulation has shown considerable promise for enhancing cognitive functions by the long-term manipulation of neuroplasticity [1,2,3]. However, the observation of such improvements has been focused at the behavioral level, and enhancements largely restricted to the performance of basic tasks. Here, we investigate whether transcranial random noise stimulation (TRNS) can improve learning and subsequent performance on complex arithmetic tasks. TRNS of the bilateral dorsolateral prefrontal cortex (DLPFC), a key area in arithmetic [4,5], was uniquely coupled with near-infrared spectroscopy (NIRS) to measure online hemodynamic responses within the prefrontal cortex. Five consecutive days of TRNS-accompanied cognitive training enhanced the speed of both calculation- and memory-recall-based arithmetic learning. These behavioral improvements were associated with defined hemodynamic responses consistent with more efficient neurovascular coupling within the left DLPFC. Testing 6 months after training revealed long-lasting behavioral and physiological modifications in the stimulated group relative to sham controls for trained and nontrained calculation material. These results demonstrate that, depending on the learning regime, TRNS can induce long-term enhancement of cognitive and brain functions. Such findings have significant implications for basic and translational neuroscience, highlighting TRNS as a viable approach to enhancing learning and high-level cognition by the long-term modulation of neuroplasticity.