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The Quick Eye Movement That Reveals Whether It’s Love or Lust — PsyBlog

The Quick Eye Movement That Reveals Whether It’s Love or Lust — PsyBlog | Bounded Rationality and Beyond | Scoop.it

How to tell just from the eyes whether it’s love or lust .When a stranger looks into your eyes, it could signal romantic love, but if their eyes then slide down your body, they’re probably feeling sexual desire, a new study finds. This automatic judgement can happen in as little as half a second and likely recruits different networks of activity in the brain.

Stephanie Cacioppo, who led the study, which is published in the journalPsychological Science, said:

“Although little is currently known about the science of love at first sight or how people fall in love, these patterns of response provide the first clues regarding how automatic attentional processes, such as eye gaze, may differentiate feelings of love from feelings of desire toward strangers.”

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Hyper-Connected: What Depression Does to Your Brain — PsyBlog

Hyper-Connected: What Depression Does to Your Brain — PsyBlog | Bounded Rationality and Beyond | Scoop.it

The brains of depressed young adults were compared with normal controls Young adults who have experienced depression have hyper-connected cognitive and emotional networks, a new study finds.Researchers at the University of Illinois at Chicago scanned the brains of 30 adults between the ages of 18 and 23 while they were in a resting state (Jacobs et al., 2014).

The participants had previously experienced depression but were otherwise healthy and not taking any medication.

Their fMRI scans were compared with those of 23 controls who had not experienced serious depression.

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The Political Economy of Nonlinear Capital Taxation

Abstract:

We study efficient nonlinear taxation of labor and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without commitment, as the outcome of democratic elections. We study
the best equilibrium for this dynamic game. Our main result is that the marginal tax on capital income is progressive, in the sense that richer agents face higher marginal tax rates.

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Chaos Theory and its Application in Political Science

Abstract:
The introduction of the notion of chaos – derived from the chaos theory as developed in mathematical and physics sciences – into the study of socio-political phenomena allow us to better understand the dynamic evolution of these non-linear systems. This paper intends to review the still embryonic literature regarding the application of the chaos theory in political science, particularly into the fields of public policies and international relations. The modelling  and prediction attempts made using non-linear tools (such as the mathematical transformations, the fractal objects and other graphic and quantitative methods applicable to the specificities of the socio-political data) reveal the original asset of the chaos for social sciences. Using examples and cases studies, we will attempt to develop and show the pertinence of these original concepts (such as the bifurcations, the strange attractors, or the sensivity to
initial conditions) as well as the analysis and prediction tools associated to them in order to apprehend and understand political phenomena whose behaviour seem to be, at first sight, random or at least unpredictable.

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What Can We Learn From The Wealth of Virtual Nations?

What Can We Learn From The Wealth of Virtual Nations? | Bounded Rationality and Beyond | Scoop.it
Economists look to massively multi-player online games for insight into real-world money questions.

A 2009 study led by Edward Castronova, an economist and media expert at Indiana University, took up the question of whether virtual worlds could be considered “economies” in the way a real nation might. The authors examined the MMO EverQuest2 and found that, “with the buying and selling of goods, banking, the creation of goods, and the equivalent of income, derived from taking currency and items from defeated monsters,” the characteristics of a functioning economy were there. Furthermore, a GDP could be calculated, and price levels of various items across the game responded to fluctuations in inflation. "People approach pricing and wealth in virtual environments in much the same way as they do in the real world," Castronova told me. 

How, in a contained economy, does wealth arise among individuals? Can it be a function of a person's behavioral patterns, or position within social networks? 

That’s part of the reason MMOs are so alluring to Castronova—who’s often cited as a founder of the field of virtual economics—as well as to a growing legion of social scientists. Another draw is that these virtual worlds are self-contained and user-driven: For the most part, game developers don’t intervene in the action; each player is following their own quest, forging their own path, building their own networks. People are making decisions on their own. 

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NeuroEconomia: Come il Cervello prende le Decisioni - Video Corso

NeuroEconomia: Come il Cervello prende le Decisioni - Video Corso | Bounded Rationality and Beyond | Scoop.it

Economia, Psicologia e Neuroscienze stanno oggi convergendo in una nuova disciplina chiamata Neuroeconomia, con l'obiettivo di fornire una unica teoria generale dei processi decisionali umani.

La Neuroeconomia offre a economisti, psicologi e scienziati sociali una più profonda comprensione di come l'uomo prendere le decisioni, partendo dal presupposto che, a differenza di quanto affermato dall’economia tradizionale,l’uomo non è un animale razionale, ma agisce sotto l’impulso di processi neuronali automatici e molto spesso inconsci, quindi indipendenti dalla propria volontà. 

Il cervello é programmato per prendere rischi o per evitarli ? Come è valutata dal cervello una "decisione giusta" ? E possibile prevedere le intenzioni di acquisto di un consumatore ? Possiamo modulare il comportamento del cervello riguardo gli aspetti economici ?

Per rispondere a queste domande e conoscere meglio le basi della Neuroeconomia a partire dal prossimo 23 Giugno la prestigiosa Higher School of Economics di Mosca, presenta un nuovo interessante video corso di 9 settimanetotalmente gratuito, intitolato Introduction to Neuroeconomics: how the brain makes decisions che tratterà molti argomenti partendo dai fondamenti della neuroeconomia e neuroanatomia del cervello trattati in quattro moduli successivi, guarda la video-presentazione del corso :

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The evolution of nonlinear dynamics in political science and public administration: Methods, modeling and momentum

The main objective of Discrete Dynamics in Nature and Society is to foster links between basic and applied research relating to discrete dynamics of complex systems encountered in the natural and social sciences. The journal intends to stimulate publications directed to the analyses of computer generated solutions and chaotic in particular, correctness of numerical procedures, chaos synchronization and control, discrete optimization methods among other related topics. The journal provides a channel of communication between scientists and practitioners working in the field of complex systems analysis and will stimulate the development and use of discrete dynamical approach.
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Eli Levine's curator insight, September 5, 6:10 PM

Way cool science! 

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Psychological Incentives, Financial Incentives, and Risk Attitudes in Tournaments An Artefactual Field Experiment

Abstract

Tournaments are widely used to assign bonuses and determine promotions. Tournament-based compensation is motivating because of the link between relative performance and financial

rewards. However, performing relatively well (poorly) may also yield psychological benefits (pain). This may also stimulate effort. Through a real-effort artefactual field experiment with factory workers in China, we examine how both psychological and financial incentives, together with attitudes toward risk, may influence motivation and performance. For comparison purposes, Chinese undergraduate students also participated in a comparable laboratory experiment. We provided performance-ranking information both privately and publicly, with and without rankbased

financial incentives. Our results show that performance-ranking information had a significant motivational effect on average performance for students, but not for workers. Adding financial incentives based on rank provided little evidence of further improvements. Much of the difference between workers and students can be explained by differences in attitudes toward risk.

Indeed, for both groups the size of both financial and psychological incentive effects is inversely related to individual levels of risk aversion, and is positive and significant both for workers and

for students who are sufficiently risk-tolerant. Lastly, performance did not deteriorate when incentives were removed, suggesting that they worked through the encouragement of learning.

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The Precautionary Principle: Fragility and Blac Swans from Policy Actions

Abstract—The precautionary principle (PP) states that if an action

or policy has a suspected risk of causing severe harm to the public

domain (affecting general health or the environment globally), the action should not be taken in the absence of scientific near-certainty about its safety. Under these conditions, the burden of proof about absence of harm falls on those proposing an action, not those opposing it. PP is intended to deal with uncertainty and risk in cases where the absence of evidence and the incompleteness of scientific knowledge carries profound implications and in the presence of risks of "black swans",

unforeseen and unforeseable events of extreme consequence.

This non-naive version of the PP allows us to avoid paranoia and

paralysis by confining precaution to specific domains and problems. Here we formalize PP, placing it within the statistical and probabilistic structure of “ruin” problems, in which a system is at risk of total failure, and in place of risk we use a formal"fragility" based approach. In these problems, what appear to be small and reasonable risks accumulate inevitably to certain irreversible harm. Traditional cost-benefit analyses, which seek to quantitatively weigh outcomes to determine the best

policy option, do not apply, as outcomes may have infinite costs. Even high-benefit, high-probability outcomes do not outweigh the existence of low probability, infinite cost options—i.e. ruin. Uncertainties result in sensitivity analyses that are not mathematically well behaved. The PP is increasingly relevant due to man-made dependencies that propagate impacts of policies across the globe. In contrast, absent humanity the biosphere engages in natural experiments due to random variations

with only local impacts. Our analysis makes clear that the PP is essential for a limited set of contexts and can be used to justify only a limited set of actions. We discuss the implications for nuclear energy and GMOs. GMOs represent a public risk of global harm, while harm from nuclear energy is comparatively limited and better characterized. PP should be used to prescribe severe limits on GMOs

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What is bounded rationality? - YouTube

The term “bounded rationality” was introduced by Nobel laureate Herbert Simon who asked, how do human beings reason when the conditions for rationality postulated by neoclassical economics theory are not met?” In this talk at the Summer Institute for Bounded Rationality 2014, Gerd Gigerenzer, Director of the Max Planck Institute for Human Development, will introduce how the fast-and-frugal heuristics research program has begun to answer Simon’s question. 

Fast-and-frugal heuristics are efficient cognitive strategies that ignore information, and stand in contrast to the classical view that heuristics are error-prone and thus sub-optimal. The research on the adaptive toolbox indicates that (i) individuals and organizations often rely on simple heuristics adaptively, and (ii) ignoring information can lead to more accurate decisions in uncertain environments.

This talk was presented at the Summer Institute for Bounded Rationality 2014, hosted by the Max Planck Institute for Human Development in Berlin, Germany, from 10 to 17 June. The 2014 theme was “Simple Solutions for a Complex World”. The summer institute is an annual event that hosts young scientists from various countries and disciplines for a week of exchange about bounded rationality. 

For more information, visit https://www.mpib-berlin.mpg.de/en/res...
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In conversation: George Loewenstein and Rory Sutherland (London Behavioural Economics Network) - YouTube

To celebrate the second anniversary of the London Behavioural Economics Network, we organised a two-way debate with leading behavioural economics scholar George Loewenstein and advertising guru Rory Sutherland on 23rd April. 

This recording covers the first hour of the conversation, and the final 10mins are here: https://www.youtube.com/watch?v=su2ND...

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Could Neuroeconomics Help Prevent Market Crashes?

What is going on in people's brains when they are buying and selling assets during a bubble and a crash? Award-winning behavioral economist Colin Camerer discusses his pioneering research during the Subjective Probability, Utility and Decision-Making Conference held at IESE Barcelona in August 2013.
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The Agricultural Origins of Time Preference

Abstract: This research explores the origins of the distribution of time preference across regions. It advances the hypothesis, and establishes empirically, that geographical variations in the incentives to delay consumption in favor of lucrative investment opportunities have had a persistent effect on the distribution of long-term orientation across societies. In particular, exploiting a natural experiment associated with the Columbian Exchange, the research establishes that agro-climatic characteristics in the pre-industrial era that were conducive to higher return to agricultural investment, triggered selection and learning processes that had a persistent positive effect on the prevalence of long-term orientation in the contemporary era.

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LEADER HEURISTICS, POLITICAL KNOWLEDGE AND VOTING IN BRITAIN'S AV REFERENDUM

This paper uses data gathered in a large national survey to investigate the impact of party leader images on voting in Britain's 2011 national referendum on the Alternative Vote electoral system. Previous studies have found that leader heuristics have significant
effects on voting in major referendums and general elections, and some analysts have argued that these effects are stronger for voters with lower levels of political knowledge.
However, consistent with recent research in experimental conomics, it can be hypothesized that more knowledgeable voters actually rely more heavily on leader heuristics than do less knowledgeable individuals. Using multivariate statistical techniques suitable for analyzing interaction effects in nonlinear models, we show that a
political knowledge index focusing on the electoral system does not have statistically significant effects on referendum voting. However, knowledge of leaders' positions on AV does interact with their images. The nature of these effects is consistent with the conjecture that more knowledgeable voters place greater emphasis on leader heuristics.

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The Label “Rational” Is Being Used Illogically | Big Think

The Label “Rational” Is Being Used Illogically | Big Think | Bounded Rationality and Beyond | Scoop.it
The label “rational” is being used illogically. Economists (even the better behavioural kind) often misapply it, ignoring Shakespeare’s wisdom (he understood human nature better) and our evolved relational rationality.
1. Consider the Ultimatum Game: a Proposer is given money and must ...
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Incremental Shifts in pH Spring Water Can Be Stored as “Space-Memory”: Encoding and Retrieval Through the Application of the Same Rotating Magnetic Field | Dotta | NeuroQuantology

Incremental Shifts in pH Spring Water Can Be Stored as “Space-Memory”: Encoding and Retrieval Through the Application of the Same Rotating Magnetic Field | Dotta | NeuroQuantology | Bounded Rationality and Beyond | Scoop.it

ABSTRACT

Both four-dimensional (space-time) models and Casimir-like processes predict that the representations of stimulusresponse

pairing remain in altered or virtual states that can be potentially retrieved. Over a six month period we

demonstrated “excess correlations” between mild acidification in quantities (50 ml) of spring water in a local space

and the temporally contiguous incremental alkalinisation in nonlocal quantities of water when both loci were exposed

to the same experimental paradigm that produced “entanglement” in photon reactions. The procedure required

simultaneous exposures of both loci to specific patterns of rotating magnetic fields displaying specific rates of change

in angular velocity. If the ~0.1 unit increases in pH within the non-local water samples due to injections of acetic acid

in the local samples had been established on one day, comparable shifts occurred in the non-local water samples the

following day when there were no injections of acetic acid if the space was exposed to the original magnetic field

configurations. These results suggest that, like photon patterns, the “memory” or representation of pH (H+) shifts

remain in space long after the stimulus has been removed and can be retrieved within that space if the specific

electromagnetic field is repeated.

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Hypercitizenship and the Management of Genetic Diversity: Sociology of Law and the Key Systemic Bifurcation Between the Ring Singularity and the Neofeudal Age

This article is essentially theoretical and is focused on the allocative function of the legal systems to attract/reject different capitals according to their proceduresto shape norms and laws. This function of the legal systems is pivotal in ourtimes as humankind is facing a systemic and evolutionary bifurcation betweenthe heideggerian Gegnet of a strategic, high speed convergence (i.e., Singularity)among robotics, informatics, nanotechnologies, and genetics (RINGs)—whichwill reshape human life in terms of its life quality styles and standards especiallyregarding health and environment matters, and the so called Neofeudal Scenario(NS) supported by those for whom the Industrial Model failed and the only wayto save humankind and its environment would be a kind return to a Medievallife style based on a slow pace of life and austerity. This article provides anoverview of the most important and recent international references regarding thetwo alternatives of bifurcation and describes a potential paradigm shift inside thesystemic approach to reframe the conceptual map of global change through asystemic epistemology of the sociology of law
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Envy Has Got Nothing To Do With It

Envy Has Got Nothing To Do With It | Bounded Rationality and Beyond | Scoop.it

Peter Schiff argues that it's living standards that matter, not inequality and that the poor are much better off under capitalism today than the poor in ancient times under different economic systems. 

In a way, classical economics should not surprise us that the incentive effects from money start to blunt after a certain level. Like basically everything in life, money is also subject to the law of diminishing marginal utility. If you already have a lot, additional dollars mean less and less.

In a way, classical economics has some difficulty explaining why very rich people still continue to work, considering work itself is treated as a 'disutility' (which is why we need these financial incentives in the first place) and money suffers from the law of diminishing marginal utility.

Other sciences are less sanguine, we know that people earning more tend to work more (many seem to enjoy their job, deriving status, fulfillment, social contacts and even identity from it). We also know that being unemployed almost invariably extracts a heavy psychological and social toll.

However, from behavioral economics we know that, after a certain minimum threshold (needed for reasonably comfortable living), what matters most is not the absolute amount of money, but how one is doing with reference to a peer group one considers comparable. In famous experiments, people prefer to earn $50,000 when others earn $40,000, rather than earn $100,000 when others earn $200,000.

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Rumor-Propagation Model with Consideration of Refutation Mechanism in Homogeneous Social Networks

Rumor-Propagation Model with Consideration of Refutation Mechanism in Homogeneous Social Networks | Bounded Rationality and Beyond | Scoop.it
The main objective of Discrete Dynamics in Nature and Society is to foster links between basic and applied research relating to discrete dynamics of complex systems encountered in the natural and social sciences. The journal intends to stimulate publications directed to the analyses of computer generated solutions and chaotic in particular, correctness of numerical procedures, chaos synchronization and control, discrete optimization methods among other related topics. The journal provides a channel of communication between scientists and practitioners working in the field of complex systems analysis and will stimulate the development and use of discrete dynamical approach.
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Chaos and Politics: Applications of Nonlinear Dynamics to Socio-Political Issues

Abstract: We discuss the extent to which recent improvements in our understanding of inherently nonlinear phenomena present challenges to the use of mathematical models in the analysis of environmental and socio-political issues. In particular, we demonstrate that the “deterministic chaos” present in many nonlinear systems can impose fundamental limitations on our ability to predict behavior even when precisely defined mathematical models exist. On the other hand, results from chaos theory can provide means for better accuracy for short-term predictions even for systems which appear to behave completely randomly. Chaos also provides a new paradigm of a complex temporal evolution with bounded growth and limited resources without the equivalent of stagnation and decay. This is in contrast to a traditional view of historical evolution which is perhaps best expressed by the phrase: “if something stops growing, it starts rotting.” The exploration of a large number of states by a single deterministic solution creates the potential for adaptation and evolution. In the context of artificial life models this has led to the notion of “Life at the edge of chaos” expressing the principle that a delicate balance of chaos and order is optimal for successful evolution. Since our primary aim is didactic, we make no attempt to treat realistic models for complex issues but rather introduce a sequence of simple models which illustrate the increasingly complicated behavior that can arise when the nonlinearity is properly taken into account. We begin with the familiar elementary model of population growth originally due to Malthus and indicate how the incorporation of nonlinear effects alters dramatically the expected dynamics of the populations. We then discuss models which are caricatures of two issues--weather prediction and international arms races. Among the arms race models we consider a special class which is related to population dynamcis and which is first introduced by L. F. Richardson after WW I. The examples we discuss, however, have discrete time dependence. For certain ranges of their control parameters, these models exhibit “deterministic chaos,” and we discuss how this behavior limits our ability to anticipate and predict the outcomes of various situations. We then briefly describe methods to exploit the high sensitivity of chaotic systems to dramatically increase the capability of both forecasting and control of chaotic systems. We show that many different solutions can coexist even in simple models and how machine learning methods such as neural nets and genetic algorithms can be used to find classes of optimal solutions. We speculate on some generalizations of arms control models into object oriented frameworks which allow simultaneous modeling on different levels of quantitative formalizations: In a computational network we can have nodes which represent purely conceptual models of areas where quantitative analysis would be inappropriate and other nodes for which a hierarchical structure of mls of arbitrary quantitative detail and sophistication can be generated. Finally, we close with a few remarks on our general theme, stressing that, despite its limitations and because of its challenges, mathematical modeling of complex environmental and socio-political issues is crucial to any efforts to use technology to enhance international stability and cooperation.

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Direct Brain-to-Brain Communication Demonstrated Over The Internet — PsyBlog

Direct Brain-to-Brain Communication Demonstrated Over The Internet — PsyBlog | Bounded Rationality and Beyond | Scoop.it

An international team of roboticists and neuroscientists have demonstrated brain-to-brain communication between two people over the internet for the first time. Professor Alvaro Pascual-Leone, of Harvard Medical School, explained the thinking behind the study: “We wanted to find out if one could communicate directly between two people by reading out the brain activity from one person and injecting brain activity into the second person, and do so across great physical distances by leveraging existing communication pathways.” “One such pathway is, of course, the internet, so our question became, ‘Could we develop an experiment that would bypass the talking or typing part of internet and establish direct brain-to-brain communication between subjects located far away from each other in India and France?’” The scientists in France and Spain used EEG (electroencephalogram) and TMS (transcranial magnetic stimulation) technology (Grau et al., 2014).

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Regional Risk and Economic Development

Regional Risk and Economic Development | Bounded Rationality and Beyond | Scoop.it
Regional Risk and Economic Development

Globalization has exposed regional economies to greater competition and risk. Just as businesses mustmanage risk to remain profitable, regional industries and organizations and industries face a range ofrisks that need to be managed in appropriate ways to ensure the continued viability of local economies. Regional risk relates to exogenous and endogenous events or activities that have the potential toimpact negatively on the economic, physical, environmental, societal and political structure of aneconomy. This paper presents the results of a pilot research project to evaluate regional risk. Using atechnique referred to as Multi-Sector Attribute Analysis (MSAA) the paper evaluates three aspects ofregional risk related to impact, possibility, and anticipated risk based on a case study of the Far NorthQueensland (FNQ) region economy in Australia. An analysis was undertaken of 25 risk attributesacross 16 industries using a survey of 202 firms and together with inputs from focus groups comprisingmanagers of regional organizations. The results have been used to develop regional risk managementstrategies for several export industry clusters in the region. The research suggests that with the movetowards increasing collaborative competition, strategic alliances and partnerships between firms andorganizations, regional risk assessment will become an important part of economic development planning and management in future

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From Theory to Practice: Applying Behavioral Economics to the Arts, Tessitura's Innovator Series - YouTube

Sara Billmann, Marketing & Communications Director for University Musical Society (UMS), University of Michigan presents "From Theory to Practice: Applying Behavioral Economics to the Arts" in this Innovator Series video from http://www.tessituranetwork.com.

The fields of behavioral economics and consumer psychology provide us with theories about why people behave the way they do. But do these theories work for the arts? Sara explores recent work by leading behavioral economists and how their research can become your reality.

In her role Sara oversees the strategic and creative campaigns for a 50-event season in classical music, theater, dance, jazz, and world music. She has recently overseen a rebranding of UMS, as well as the launch of umslobby.org, an interactive website that engages with audiences in new ways. She co-chaired the Major University Presenters Value and Impact Study (released in 2007). In 2010, she was invited to join 50 international arts professionals in the Salzburg Global Seminar on "Performing Arts in Lean Times: Opportunities for Reinvention".

Tessitura's Innovator Series is an ongoing program of brief & inspiring presentations by industry innovators, each focused on a single theme with the potential to advance the reach & relevance of arts & culture in the world. 

Like Tessitura's Innovator Series Facebook page at http://www.facebook.com/TNinnovator ;
Follow Tessitura Network on Twitter @TessNetwork.
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the Behavioral Economics of Extreme Poverty

Why do the poor remain poor? Sendhil Mullainathan's recent research shows that living under conditions of extreme poverty -- or scarcity -- makes it harder for the poor to do the very things that could help them escape poverty. That is, scarcity makes it hard for the poor to make the good decisions about their own health, nutrition and investments, among other issues.

Mullainathan explores the implications of his research on scarcity and behavioral economics for how we think about and tackle the problem of persistent, extreme poverty and poor health and nutrition in the developing world. His remarks are followed by a panel discussion on how these lessons can inform development policies and programs.

This CGD event, held in partnership with the U.S. Agency for International Development, is the third in a series USAID has organized to develop discourse and substantively engage the external community on President Obama's commitment to eradicate extreme poverty within a generation. USAID will use the questions and information from these conversations to inform their approach to ending extreme poverty.
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Behavioral Economics and Wellness

Sibson VP Christopher Goldsmith discusses the positive effects that behavioral economics can have on wellness.
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