Bounded Rationality and Beyond
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News on the effects of bounded rationality in economics and business, relationships and politics
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The Curious Effect of Depression on Intuitive Thinking Skills — PsyBlog

The Curious Effect of Depression on Intuitive Thinking Skills — PsyBlog | Bounded Rationality and Beyond | Scoop.it
First experiment to find a link between depression and intuition.

Depression curbs people’s ability to make intuitive judgements, a new study finds for the first time.

The research may help explain why people who are depressed say they find it difficult to make ordinary, everyday decisions.

In the experiment, published in the British Journal of Clinical Psychology, half the participants had major depressive disorder, while the other were a healthy control group (Remmers et al., 2014).

Both groups were given a measure of intuitive thinking which involved finding the link between words.

 
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Michele Marchese's curator insight, November 15, 2014 8:15 PM

Depression is like being in a silent limbo, we can't make any decisions to help us move forward from the melancholy that we feel. Depression weakens our creativity, and intuitive processing. Holistic therapies such as Flower essences due to their own energetic vibrational healing, Aromatherapy essential oils such as sage, orange, lemon or sandalwood. Hypnotherapy, Reiki, and, Acupuncture, and more can help us to find the path in our mind that leads us back to our creative center. We need to be able to listen to our own natural abilities to make decision

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Social Comparison and Peer effects with Heterogeneous Ability

Abstract: Whether and how the observability of a coworker’s effort influences an employer’s wage decisions and workers’ effort decisions is a central issue for labor organizations. We conduct an experiment using a three-person gift-exchange game to investigate this matter in the context of wage transparency and heterogeneous abilities. We find that showing a coworker’s effort increases both wages and the difference in wages between two heterogeneously skilled workers when the more able worker is observed. The knowledge of a coworker’s effort increases the level of reciprocity exhibited by observed workers (peer effects), whereas it reduces that exhibited by workers who are observers. Overall, displaying coworker’s effort has a beneficial effect on reciprocity. Regardless of their ability, workers exert levels of effort that are positively related to those of their coworkers. This strategic complementarity of efforts is partially explained by inequity aversion.

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Misperception of Consumption: Evidence from a Choice Experiment

Abstract: We investigate people's di erent conceptions of the economic term consump- tion when comparing with others. An Internet-based hypothetical discrete choice experiment was conducted with Japanese participants. As in other relative income comparison studies, we found that own consumption and own saving had a positive impact on utility, whereas the consumption and saving of a reference person had a negative impact on utility. However, the results show that the magnitudes of consumption and saving di er in size; saving could a ect utility much more than consumption for the Japanese subjects. By using scope tests, we found that the impact of own consumption is not monotonic and so does not necessarily increase utility. This calls into question the conventional assumption of the monotonicity of \the utility of consumption"; consumption could be perceived as a negative good. Our results, therefore, provide some evidence that, in reality, people understand and perceive the economic terms di erently from what economists would expect. Furthermore, when considering the consumption of others as well as their own, the size of the discrepancy is even bigger.

 
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How to Be Human in Your Content Marketing

How to Be Human in Your Content Marketing | Bounded Rationality and Beyond | Scoop.it
Here’s one of the most significant tenets of content marketing: People like to do business with other people. They don’t like to do business with faceless, anonymous, inhuman brands or big corporations.

Here’s what this means for your small business: You should be doing content marketing to engage and to inform, yes—but also to humanize your brand. To give it some character. To put a face to it, and to make it relatable.

You never know: Being relatable could be just the thing that causes a consumer to pick your friendly, inviting company over the more blasé company down the road. If nothing else, a personable social media presence will go a long way toward making your company memorable.

The question is, how can you make your business come across as more human through your content marketing? Try these five simple tips:
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The Choice Architecture of Choice Architecture: Toward a Nonpaternalistic Nudge Policy

Abstract

This The goal of nudge policy is generally presented as assisting people in finding their “true” preferences. Supporters argue that nudge policies meet a libertarian paternalism criterion. This claim has provoked complaints that nudge policies are unacceptably paternalistic. This paper suggests that by changing the explicit goal of nudge policy to a goal of making the choice of choice mechanism an explicit decision variable of the subgroup being affected by the nudge one can have a non-paternalistic nudge policy that better fits with the values inherent in Classical liberalism. The goal of non-paternalistic nudge policy is not to achieve a better result as seen by government or by behavioral economists. The goal of non-paternalistic nudge policy is to achieve a better result as seen by the agents being nudged as revealed through their choices of choice mechanisms. Examples are given of how nonpaternalistic nudge policy will and will not differ from paternalistic nudge policy.

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Nudging e Salute: un binomio possibile?

Downloadable! Il termine inglese nudging viene tradotto in italiano con la locuzione “spinta gentile”. Esso indica un’azione svolta dallo Stato diretta ad incentivare (o disincentivare) comportamenti individuali ritenuti benefici (o nocivi) per il soggetto stesso che li compie. L’ipotesi teorica che sta alla base di tale pratica è che le scelte che il consumatore può compiere non rispondano sempre ai postulati di razionalità propri della teoria neoclassica del consumatore. Si ipotizza l’esistenza di due tipi di consumatore l’Homo Economicus, definito anche “Econ”, che è in grado di compiere scelte che rispettano i postulati propri della teoria neoclassica del consumatore e l’Homo Sapiens, o “Human”, che compie errori sistematici nell’effettuare le proprie scelte. In questo paper, dopo aver esposto i tratti principali del nudging, si analizzano in modo critico gli aspetti teorici e leimplicazioni di policy di tale teoria.
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Frontiers | Fetal functional imaging portrays heterogeneous development of emerging human brain networks | Frontiers in Human Neuroscience

The functional connectivity architecture of the adult human brain enables complex cognitive processes, and exhibits a remarkably complex structure shared across individuals. We are only beginning to understand its heterogeneous structure, ranging from a strongly hierarchical organization in sensorimotor areas to widely distributed networks in areas such as the parieto-frontal cortex. Our study relied on the functional magnetic resonance imaging (fMRI) data of 32 fetuses with no detectable morphological abnormalities. After adapting functional magnetic resonance acquisition, motion correction, and nuisance signal reduction procedures of resting-state functional data analysis to fetuses, we extracted neural activity information for major cortical and subcortical structures. Resting fMRI networks were observed for increasing regional functional connectivity from 21st to 38th gestational weeks (GWs) with a network-based statistical inference approach. The overall connectivity network, short range, and interhemispheric connections showed sigmoid expansion curve peaking at the 26–29 GW. In contrast, long-range connections exhibited linear increase with no periods of peaking development. Region-specific increase of functional signal synchrony followed a sequence of occipital (peak: 24.8 GW), temporal (peak: 26 GW), frontal (peak: 26.4 GW), and parietal expansion (peak: 27.5 GW). We successfully adapted functional neuroimaging and image post-processing approaches to correlate macroscopical scale activations in the fetal brain with gestational age. This in vivo study reflects the fact that the mid-fetal period hosts events that cause the architecture of the brain circuitry to mature, which presumably manifests in increasing strength of intra- and interhemispheric functional macro connectivity.
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Design to nudge and change behaviour: Sille Krukow at TEDxCopenhagen - YouTube

Today human behaviour is the biggest threat to mankind. We keep overeating, even though we know it´s bad for us. We keep using to much energy, even though we know the planet can't keep up with our consumption. We keep driving too fast, even though we know it kills us. But this doesn't mean that we have no intentions to change. We do. But changing actual human behaviour calls for good design solutions that take basic human instincts, flaws and habits into consideration. That is design to nudge.

Sille Krukow is Behavioural designer & Senior Advisor at Stupid Studio, member of iNudgeyou and Affiliated to The Wales Center for Behaviour Change & The Danish Nudging Network. She works with developing nudges and design to change behaviour.
Holding a Master in Visual Communication Design from The Royale Danish Academy of Fine Arts, School of Architecture, Design and Conservation, Sille works with refining and developing design-approaches and methodologies in order to use different fields of design to create efficient choice- and behavioural architecture. She creates solutions for public institutions and private companies, and teaches design to change behaviour to students and design professionals.
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Der Mythos von der Weisheit der Vielen: Wie man mit Crowdsourcing bessere Ergebnisse erzielen kann | FehrAdvice Blog

Der Mythos von der Weisheit der Vielen: Wie man mit Crowdsourcing bessere Ergebnisse erzielen kann  | FehrAdvice Blog | Bounded Rationality and Beyond | Scoop.it

Bisher galt die Weisheit der Vielen (Wisdom of Crowds) als gut belegt: Die asymmetrische Verteilung von Informationen innerhalb einer Gruppe führt zu gemeinsamen Entscheidungen, die oft besser sind als Lösungen individueller Teilnehmer. Dazu wurde schon früh ein schöner Beweis erbracht, wie die MIT Technology Reviewberichtet:

Way back in 1906, the English polymath Francis Galton visited a country fair in which 800 people took part in a contest to guess the weight of a slaughtered ox. After the fair, he collected the guesses and calculated their average which turned out to be 1,208 pounds. To Galton’s surprise, this was within 1 percent of the true weight of 1,198 pounds.

Gabriel Madirolas und Gonzalo De Polavieja vom Cajal Institute in Madrid fanden heraus, dass Einschätzungen von Gruppenmitgliedern in Summe zwar tatsächlich zu einer stimmigen gemeinsamen Entscheidung führen können. Aber sobald externe Faktoren auftreten oder sich die Individuen gegenseitig beeinflussen, unterliegt auch der gemeinsame Entscheid einer Verzerrung.

 

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Save the date! 1.9.2014 / MeetUp des Zürich Behavioral Economics Network | FehrAdvice Blog

Save the date! 1.9.2014 / MeetUp des Zürich Behavioral Economics Network  | FehrAdvice Blog | Bounded Rationality and Beyond | Scoop.it

Das Behavioral Economics Network trifft sich jeden ersten Montag im Monat im Restaurant Zum Alten Löwen in der Universitätsstrasse 111 in Zürich.Wir laden regelmässig Vortragende ein, die ihre Erkenntnisse und Erfahrungen bei der praktischen Anwendung und evidenzbasierten Erforschung von verhaltensökonomischen Details teilen wollen.

Eingeladen sind Manager, Politiker, Wissenschafter, Studierende und natürlich alle anderen Interessierten, die an einem solchen Austausch interessiert sind.

Das nächste MeetUp ist am Montag, 1. September 2014, 18:30 bis 21:00. Thema: „Behavioral Economics: Soziale Präferenzen als Treiber für Verhaltensänderung“

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Video: Twitter usage reveals ebbs and flows of life in NYC

Video: Twitter usage reveals ebbs and flows of life in NYC | Bounded Rationality and Beyond | Scoop.it

Social media data could be used to design more efficient cities. Next time you’re in New York City and wondering where the party’s at, or if you’re going to get stuck on 8th Avenue in traffic from the Rangers’ game, you might do well to consult an unlikely ally: Twitter. Scientists have analyzed 6 million geolocated, time-stamped tweets from New York City and the surrounding area and discovered a “heartbeat” that says a lot about how New Yorkers live. As seen above, the frequency and location of tweets swells and recedes rhythmically, with red representing higher than average use and blue representing lower than average. Unsurprisingly, the study, published today on the arXiv preprint server, found that the most prominent predictor of Twitter usage is our daily sleep cycle. But by analyzing the locations of the tweets, the team was also able to watch New Yorkers commute from the suburbs into Manhattan, gather at stadiums for sports events, head downtown during late-night hours, and more. The team also found that Twitter usage tended to increase in transportation hubs where users are presumably bored with nothing else to do. The scientists posit that analyzing large-scale social population dynamics could help us design safer and more efficient cities—a goal that anyone who has ever tried to squeeze into an F train in midtown during rush hour can certainly appreciate.

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Fact Checking e psicologia. Come rendere emozionanti i fatti e non gli slogan? - YouTube

The presentation of a study of some mental disabilities that prevent us from accepting that a leader that we like, can not lie, exaggerate or mask the reality for propaganda. In the video it is stated that there are mental mechanisms, such as projection and ideologies in which we identify, prevent us from looking critically at the facts. Did you know the styles of propagandistic communication gap and our mind, we can help you look to the campaign with the most critical spirit. As explained in the video there are two types of leaders pernicious: the paranoid, that creates haters, so everything is an enemy, and the narcissist, creating worshipers and surrounds of useful idiots under his command. How to disentangle the utterances of electioneering? Check the sources, the data is important, even more important is to keep in mind narcissism and self-referentiality of many leaders, for example. Renzi today, Berlusconi before.

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Brain as a Business Model | The European Financial Review | Empowering communications globally

Brain as a Business Model | The European Financial Review | Empowering communications globally | Bounded Rationality and Beyond | Scoop.it

Clear parallels can be drawn between a new understanding of the human brain’s multilayered cognitive functions – the bottom brain, top brain paradigm – and the way that businesses work. Below, the authors identify and analyse four different modes in which people operate and argue that, similar to human beings, business enterprises function as if they have highly intertwined top and bottom brains.

The human brain and “brains” of business enterprises have a lot in common. Both set goals, create situational awareness, and use experience to refine and execute plans. Both have distinct yet highly intertwined parts with complementary roles. The classification of people’s cognitive strengths and weaknesses has useful parallels to those of companies. Akin to successful individuals, thriving organisations exhibit a rich and balanced collaboration between different parts of their corporate brains. This enables them to understand “the future that has already happened,” evolve strategies, and remain competitive and relevant.

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Whom are you talking with? An experiment on credibility and communication structure

Abstract: The paper analyzes the role of the structure of communication - i.e. who is talking with whom - on the choice of messages, on their credibility and on actual play. We run an experiment in a three-player coordination game with Pareto ranked equilibria, where a pair of agents has a profitable joint deviation from the Pareto-dominant equilibrium. According to our analysis of credibility, the subjects should communicate and play the Pareto optimal equilibrium only when communication is public. When pairs of agents exchange messages privately, the players should play the Pareto dominated equilibrium and disregard communication. The experimental data conform to our predictions: the agents reach the Pareto-dominant equilibrium only when announcing to play it is credible. When private communication is allowed, lying is prevalent, and players converge to the Pareto-dominated equilibrium. Nevertheless, at the individual level, players’ beliefs and choices tend to react to messages even when these are non-credible.

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The Paradox of Music-Evoked Sadness: A Survey of Personality and Reward

The Paradox of Music-Evoked Sadness: A Survey of Personality and Reward | Bounded Rationality and Beyond | Scoop.it
Questo è il primo studio comprensivo sulla tristezza evocata dalla musica, e rivela che l’ascolto della musica triste può portare benefici emotivi come la regolazione delle emozioni negative e dell’umore, oltre che della consolazione. Questi benefici emozionali costituiscono una ragione per ascoltare la musica triste durante la vita quotidiana.

 

The present findings indicate that emotional responses to sad music are multifaceted, are modulated by empathy, and are linked with a multidimensional experience of pleasure. These results were corroborated by a follow-up survey on happy music, which indicated differences between the emotional experiences resulting from listening to sad versus happy music. This is the first comprehensive survey of music-evoked sadness, revealing that listening to sad music can lead to beneficial emotional effects such as regulation of negative emotion and mood as well as consolation. Such beneficial emotional effects constitute the prime motivations for engaging with sad music in everyday life.

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Nudge all'italiana, 10 vie per il cambiamento soft - Wired

Nudge all'italiana, 10 vie per il cambiamento soft  - Wired | Bounded Rationality and Beyond | Scoop.it
Anni di politiche economiche e pubbliche all’insegna dell’ideale e del razionale, per poi scoprire che troppe ricette non funzionano e non sempre vengono recepite da cittadini, che agiscono in maniera piuttosto irrazionale: e allora che si fa? Si cambia paradigma, come suggerisce il libro dell’economista e filosofoMatteo Motterlini, autore di La psicoeconomia di Charlie Brown – Strategie per una società più felice.  Economia, politica e finanza devono cambiare approccio e tenere conto di una serie di vincoli a carattere cognitivo ed emozionale che ci guidano nel quotidiano. Chi, come i decisori, può spingere i cittadini a essere meno passivi, e a cambiare le opzioni di default, ha il dovere di farlo: lostatus quo alla lunga logora tutto il sistema. Una versione all’italiana del nudge, ovvero la spinta gentile profetizzata in un famoso bestseller apparso in America nel 2008, scritto dagli economisti Richard Thaler e Cass Sunstein, che ai molteplici ambiti della vita pubblica prescriveva una ricetta a metà strada tra il liberalismo e il paternalismo,  per spingere il sistema, nel complesso, a cambiare in maniera soft. Dal libro di Motterlini abbiamo estratto dieci consigli, per spingere gentilmente il nostro Paese.
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Applying Behavioural Economics in Financial Services | Bigrock People Performance Solutions

Applying Behavioural Economics in Financial Services | Bigrock People Performance Solutions | Bounded Rationality and Beyond | Scoop.it
The UK Financial Services regulator, the FCA, continue to emphasise the importance of a thorough understanding of Behavioural Economics. As we’ve discussed in earlier posts, Behavioural Economics forms a significant part of the regulator’s Conduct Risk agenda.

We have researched and written a series of practical guides. Our guides put heuristics, prospect theory, mental accounting and other Behavioural Economics phenomena in context. We also provide practical advice on how individuals and leaders can work to mitigate the effects of Behavioural Economics.

Our guides are available to all financial services professionals. To request your complimentary guides please email enquiries@bigrockhq.com.

Below is an extract from our first guide, Understanding Perspectives. The extract explores some of the difficulties and contradictions of Behavioural Economics when applied in a practical context.
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Your Success Toolkit: "Nudge" by Thaler and Sunstein: 3 rules of thumb we use to make decisions

Your Success Toolkit: "Nudge" by Thaler and Sunstein: 3 rules of thumb we use to make decisions | Bounded Rationality and Beyond | Scoop.it
This is the second time I have read the book, so I thought it was about time that I shared it with you. "Nudge" is not just a book, it is a challenge- a challenge to the way we think about choice and demonstrates how we can use “choice architecture” to help people when making decisions, especially the complex ones we struggle with (such as saving for retirement) but also the normal choices we face everyday. Sometimes the choices that offer a trade off between short term pleasure and long term gain are the hardest! Eat the pack of biscuits and polish off the bottle of wine now or be happy that you didn’t in 20 years time when your arteries are less furred than your friends?! Throughout the book Thaler and Sustein offer everyday and real life examples, demonstrating that no choice is ever presented in a ‘neutral’ way. In fact we can unknowingly be nudged in to making one decision over another without us even realising! Choice architecture, when executed correctly, can make major improvements to the lives of others by designing user-friendly environments. Why? Becauwe there are two kids of thinking (I have recently learnt more about this through my Coursera neuro-economics course I completed), the automatic and the reflective.
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The impact of an exchange rate realignment on the trade balance: Euro vs. national currency - Some preliminary results with a/simmetrie model of the Italian economy

Downloadable! It is frequently claimed that the current EUR/USD exchange rate is too high and that a depreciation of the EUR against the USD would contribute to relieve the Eurozone economy from the current state of persistent crisis. Evidence provided by the a/simmetrie annual econometric model suggests that this claim is unsupported by the data, at least as far as the Italian economy is concerned. In fact, the size and sign of the trade elasticities show that the increases in net exports towards non-Eurozone countries, brought about by the depreciation of the euro, would be offset by an increase in net imports towards Eurozone countries, brought about by the increase in Italian domestic demand. To put it simply, in case of a depreciation of the EUR, the Italian economy would not only suffer a higher costs of energy (because of the depreciation vis-à-vis OPEC countries), but also spend in Germany much of the money it earned in the US, Japan, and the emerging countries, with a net effect likely to be almost zero or negative in the first three to four years.
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Nudging Employees' Behaviours. Part 1. Background to the Nudge Theory - YouTube

On 23rd November 2011, Prof. Adrian Furnham (UCL) gave a talk to the guests of Mountainview Learning on how the Nudge theory can be used by HR professionals to increase employee motivation and engagement.
In the first part of this talk, Prof. Furnham discusses why Nudge is such an attractive concept and begins to explain how human decision-making process works.
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When to fly to get there on time? Six million flights analyzed. - Decision Science News

When to fly to get there on time? Six million flights analyzed. - Decision Science News | Bounded Rationality and Beyond | Scoop.it

If you read Decision Science News, you are probably interested in decision making, you probably fly a lot, and you probably like making decisions about flying.

Big data of the type the U.S. Government provides enable us to predict how delayed we will be when we fly at various hours of the day.

To make the plot above, we analyzed every single flight in the United States in 2013 for which there were Bureau of Transportation Statistics data. Filtering out flights between midnight and 6AM that leaves us with a little over six million flights (6,283,085 flights, to be precise). The BTS defines delay as the difference between the time the plane actually arrived and the time listed in the computerized reservation system. Many flights got in early, but because we’re just interested in delays (not speedups), we negative delays with zeroes.

What do we learn?

The later you leave, the greater the average delay you will face until around 6PM when things flatten out and 10PM when we see benefits in leaving later. It makes sense that delays increase as the day goes on because, we understand, the primary cause of delays is waiting for the plane to arrive from another city. The first flights out in the morning don’t have this problem.

 
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Warum extrinsische Anreize langfristig die Leistung senken können | FehrAdvice Blog

Warum extrinsische Anreize langfristig die Leistung senken können  | FehrAdvice Blog | Bounded Rationality and Beyond | Scoop.it
Our study suggests that efforts should be made to structure activities so that instrumental consequences do not become motives. Helping people focus on the meaning and impact of their work, rather than on, say, the financial returns it will bring, may be the best way to improve not only the quality of their work but also — counterintuitive though it may seem — their financial success.
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Identifying the Biases Behind Your Bad Decisions

Identifying the Biases Behind Your Bad Decisions | Bounded Rationality and Beyond | Scoop.it
You might think you’re immune, but you’re not.

By now the message from decades of decision-making research and recent popular books such as Daniel Kahneman’s Thinking, Fast and Slow should be clear: The irrational manner in which the human brain often works influences people’s decisions in ways that they and others around them fail to anticipate. The resulting errors prevent us from making sound business and personal decisions, even when we’ve accumulated abundant work experience and knowledge.

Unfortunately, even though we know a lot about how biases like overconfidence, confirmation bais, and loss aversion affect our decisions, people still struggle to counter them in a systematic fashion so they don’t cause us to make ineffective, or poor, decisions. As a result, even when executives think they are taking appropriate steps to correct or overcome employee bias, their actions often don’t work.

What’s the solution? Behavioral economics — the study of how people make decisions, drawing on insights from the fields of psychology, judgment and decision making, and economics — can provide an answer. Since it is so difficult to rewire the human brain in order to fundamentally undo the patterns that lead to biases, behavioral economics advocates that we accept human decision-making errors as given and instead focus on altering the decision-making context in ways that lead to better outcomes. Managers can use this knowledge to improve the effectiveness of a process or system inside their organizations.

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Cambridge Journals Online - Perspectives on Politics - Abstract - Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens

Cambridge Journals Online - Perspectives on Politics - Abstract - Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens | Bounded Rationality and Beyond | Scoop.it
Each of four theoretical traditions in the study of American politicsoffers different predictions about which sets of actors have how much influence over public policy: average citizens; economic elites; and organized interest groups, mass-based or business-oriented. 

Each of four theoretical traditions in the study of American politics—which can be characterized as theories of Majoritarian Electoral Democracy, Economic-Elite Domination, and two types of interest-group pluralism, Majoritarian Pluralism and Biased Pluralism—offers different predictions about which sets of actors have how much influence over public policy: average citizens; economic elites; and organized interest groups, mass-based or business-oriented.

A great deal of empirical research speaks to the policy influence of one or another set of actors, but until recently it has not been possible to test these contrasting theoretical predictions against each other within a single statistical model. We report on an effort to do so, using a unique data set that includes measures of the key variables for 1,779 policy issues.

Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic-Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism.

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Overcoming Fear-Based Investment Behavior to Build Stronger Portfolios

Overcoming Fear-Based Investment Behavior to Build Stronger Portfolios | Bounded Rationality and Beyond | Scoop.it

Overcoming Fear-Based Investment Behavior to Build Strong Portfolios

With many client portfolios barely outperforming the market, and many investors still driven by fear-based thinking and irrationality, advisors need effective strategies for portfolio construction now more than ever. This webinar will explore the current investor landscape and tackle issues such as irrationality, globalization, and an aging investor population, and how advisors can look to alternative investments as a means to better diversify and reduce volatility.

Join our presenters, Frank Muller, Executive Vice President and Head of Distribution with Behringer and Victor Ricciardi, Assistant Professor of Financial Management at Goucher College and Co-Editor of the book "Investor Behavior: The Psychology of Financial Planning and Investing." and you will learn:

The damaging effects risk aversion, fear, and irrationality have on client investing decisionsHow changes in the global landscape further influence portfolio performanceWhat you can do today to combat these challenges and better educate your clients
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