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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Law for the Common Man: An Individual-Level Theory of Values, Expanded Rationality, and the Law by Amir Licht :: SSRN

Law for the Common Man: An Individual-Level Theory of Values, Expanded Rationality, and the Law by Amir Licht :: SSRN | Bounded Rationality and Beyond | Scoop.it
What does the law mean to the common personWhat does the law mean to the common person? To better understand the operation of the law at the individual level of analysis this paper draws on psychological theories of values and on advances in rationality research to deploy a theory of expanded rationality. In this theory, values, defined as conceptions of the desirable, operate as arguments in individuals’ personal utility functions; they underlie the construction of preferences; and they provide reasons for reason-based choice. The link between values, expanded rationality, and the law is demonstrated through a number of central issues concerning the interaction between the law and individual persons - specifically, the content of law, law abidingness, value diversity in society, and value conflict.
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Barry Schwartz on the paradox of choice | Video on TED.com

TED Talks Psychologist Barry Schwartz takes aim at a central tenet of western societies: freedom of choice. In Schwartz's estimation, choice has made us not freer but more paralyzed, not happier but more dissatisfied.
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What Is Behavioral Economics? | Dan Ariely | Big Think

Duke professor Dan Ariely has little faith in human rationality. Behavioral economists are interested in the same topics that economists are interested in: why people buy, how we make decisions, what are the right mechanisms in the market, and so on.
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New pursuit of Schrödinger’s cat | Prospect Magazine

New pursuit of Schrödinger’s cat | Prospect Magazine | Bounded Rationality and Beyond | Scoop.it
Quantum theory is reliable but fraught with paradox.

 

Quantum mechanics is more than a hundred years old, but we still don’t understand it. In recent years, however, physicists have found a fresh enthusiasm for exploring the questions about quantum theory that were swept under the rug by its founders. Advances in experimental methods make it possible to test ideas about why objects on the scale of atoms follow different rules from those that govern objects on the everyday scale. In effect, this becomes an enquiry into the sense in which things exist at all.

 

In 1900 the German physicist Max Planck suggested that light—a form of electromagnetic waves—consists of tiny, indivisible packets of energy. These particles, called photons, are the “quanta” of light. Five years later Albert Einstein showed how this quantum hypothesis explained the way light kicks electrons out of metals—the photoelectric effect. It was for this, not the theory of relativity, that he won his Nobel prize.

 

The early pioneers of quantum theory quickly discovered that the seemingly innocuous idea that energy is grainy has bizarre implications. Objects can be in many places at once. Particles behave like waves and vice versa. The act of witnessing an event alters it. Perhaps the quantum world is constantly branching into multiple universes.

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Top 10 Signals That Your Management Doesn’t “Get’’ Social Media

Top 10 Signals That Your Management Doesn’t “Get’’ Social Media | Bounded Rationality and Beyond | Scoop.it

Social has turned the corner from interesting to imperative. However, some business leaders are reluctant to explore how business getting social might benefit their organization. They believe that social media isn’t relevant for their organization or that it’s just a “consumer thing” and only marketing needs to pay attention. They make statements that imply that social media is dangerous – statements which, upon examination, often reveal a misunderstanding of how all businesses are being changed by social.

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Catastrophic Effects of Radiation Contamination

Catastrophic Effects of Radiation Contamination | Bounded Rationality and Beyond | Scoop.it

Leuren Moret is an independent geoscientist who has done expert studies on the Fukushima disaster, radiation problems around the world including depleted uranium.

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Our brains, our wallets – the field of neuromarketing - The Conversation

Our brains, our wallets – the field of neuromarketing - The Conversation | Bounded Rationality and Beyond | Scoop.it
The ConversationOur brains, our wallets – the field of neuromarketingThe ConversationThe emerging field of neuromarketing exploits the gap between what we say and what we think. Flickr/DierkSchaefer How do we choose?

Via Johnny E. Ramos Ch.
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Neuromarketing - The New Marketing

Neuromarketing - The New Marketing | Bounded Rationality and Beyond | Scoop.it
What is this new buzz word Neuromarketing? What sort of marketing is it? This article explains why Neuromarketing is important, and why is the natural evolution of marketing. Neuromarketing is evolving as the new marketing.

Via Johnny E. Ramos Ch.
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Intrinsic connectivity Networks: Neurodegenerative link

Intrinsic connectivity Networks: Neurodegenerative link | Bounded Rationality and Beyond | Scoop.it

In my last 3 posts, I have talked about ICNs and how they change over developmental time-frame and how many basic ICNs we have in the adult human brain. ...


Via Sandeep Gautam
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Organizational Survival in the New World: The Intelligent Complex Adaptive System (KMCI Press)

Organizational Survival in the New World: The Intelligent Complex Adaptive System (KMCI Press) | Bounded Rationality and Beyond | Scoop.it

Organizational Survival in the New World: The Intelligent Complex Adaptive System (KMCI Press), Review Alex and David Bennet are ideally suited to bring forth such a wide-ranging and erudite synthesis of complexity and knowledge theories.


Via Gianluca Biotto
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When will computer hardware match the human brain? by Hans Moravec

When will computer hardware match the human brain? by Hans Moravec | Bounded Rationality and Beyond | Scoop.it
Hans Moravec argues that computers will soon outperform human intellects.

Via MERGEL, DECUGIS Bernard
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Collective Intelligence: Humanity’s Mass Mind

Collective Intelligence: Humanity’s Mass Mind | Bounded Rationality and Beyond | Scoop.it

"BRAIN, Behaviorally Robust Aggregation of Information in Networks), created by Hewlett Packard, is a fascinating example of collective intelligence. According to the creators, “Existing processes tend to be either too data-driven, and therefore lacking the perspective of human insight, or too ad hoc, and therefore inconsistent with the data. “

BRAIN was developed to gain more accurate information for prediction markets using data side-by-side with team surveys. It’s worked for HP, and other companies, such as IBM and Ford, have implemented prediction markets as well."


Via Howard Rheingold
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In A Study About Urban Versus Rural Brains, Suburbia Is Left Out - Culture - GOOD

In A Study About Urban Versus Rural Brains, Suburbia Is Left Out - Culture - GOOD | Bounded Rationality and Beyond | Scoop.it
A new study that confirms our cultural stereotypes about city and country dwellers raises more questions than it answers.

Via Amitai Givertz
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» USF study: Mystery ingredient in coffee boosts protection against Alzheimer’s disease

» USF study: Mystery ingredient in coffee boosts protection against Alzheimer’s disease | Bounded Rationality and Beyond | Scoop.it

A yet unidentified component of coffee interacts with the beverage’s caffeine, which could be a surprising reason why daily coffee intake protects against Alzheimer’s disease. A new Alzheimer’s mouse study by researchers at the University of South Florida found that this interaction boosts blood levels of a critical growth factor that seems to fight off the Alzheimer’s disease process.

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Nobelist Daniel Kahneman on Behavioral Economics

Nobel Prize-winning psychologist Daniel Kahneman addresses the Georgetown class of 2009 about the merits of behavioral economics.He deconstructs the assumption...
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The Brain on Trial

The Brain on Trial | Bounded Rationality and Beyond | Scoop.it
Advances in brain science are calling into question the volition behind many criminal acts.A leading neuroscientist describes how the foundations of our criminal-justice system are beginning to crumble, and proposes a new way forward for law and order.
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Semplicità e complessità nelle auto-organizzazioni — ComplexLab

Semplicità e complessità nelle auto-organizzazioni — ComplexLab | Bounded Rationality and Beyond | Scoop.it
Nell’azienda in cui lavoriamo, quando pensiamo all’organizzazione immediatamente ci vengono in mente concetti quali la gerarchia, i processi, la catena di comando (“chi riporta a chi”), le procedure. In altre parole struttura e burocrazia.
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Odds Are, It's Wrong - Science News

Odds Are, It's Wrong - Science News | Bounded Rationality and Beyond | Scoop.it

Science fails to face the shortcomings of statistics... 

For better or for worse, science has long been married to mathematics. Generally it has been for the better. Especially since the days of Galileo and Newton, math has nurtured science. Rigorous mathematical methods have secured science’s fidelity to fact and conferred a timeless reliability to its findings.

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Emerald | Management Decision | Complexity and variety in mass customization systems: analysis and recommendations

Emerald | Management Decision | Complexity and variety in mass customization systems: analysis and recommendations | Bounded Rationality and Beyond | Scoop.it

Purpose – To identify and examine the origins of complexity in a mass customization system and to propose an effective application sequence of variety management strategies in order to cope with this complexity.


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Connect Emotionally to Boost Sales | Neuromarketing

Connect Emotionally to Boost Sales | Neuromarketing | Bounded Rationality and Beyond | Scoop.it
Does your brand or business have an emotional connection with at least some of its customers? If so, that’s a very good thing.

Via Johnny E. Ramos Ch.
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Funny Cartoon about Consumer Motivation | Neuromarketing

Funny Cartoon about Consumer Motivation | Neuromarketing | Bounded Rationality and Beyond | Scoop.it
The funniest humor is based on truth, and answering the “why?” question is one of the biggest challenges market researchers face. As Motista blogger Alan Zorfas notes, But the “why” is hard.

Via Johnny E. Ramos Ch.
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Beware The Long Tail - Science News

Beware The Long Tail - Science News | Bounded Rationality and Beyond | Scoop.it

"Economic models of risk don’t add up, cadre of researchers caution... "“Many economists will tell you that the chances of something really big and bad happening are really, really small,” Stanley says. But when viewed through a different lens, he contends, catastrophic events — such as Lehman filing for bankruptcy in 2008 — aren’t exceptional but inevitable.

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'Science symphony’ combines Bach and brain science

'Science symphony’ combines Bach and brain science | Bounded Rationality and Beyond | Scoop.it
On Sunday, October 30, in Santa Fe, the Santa Fe Institute and the Santa Fe Symphony collaborated to produce a unique concert event exploring the interface between music and science.

Via DECUGIS Bernard
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MMOWGLI: An Experiment in Generating Collective Intelligence

MMOWGLI: An Experiment in Generating Collective Intelligence | Bounded Rationality and Beyond | Scoop.it

"mmowgli is both the coolest project I have ever worked on and the hardest to describe in words, but here it goes: mmowgli is an experiment in generating collective intelligence and a pilot project being developed by the Office of Naval Research.

Beyond that, mmowgli is ultimately the answer to a few questions, ones that haunted me every day during my tour as a Science Advisor at the Pentagon: why did I experience such a disconnect between technologists and “innovators,” on one hand, and warfighters and end users on the other? Why didn’t “game changing innovations” generate more enthusiasm from those who were “in the game?” And what was I doing to make it better?

As my Pentagon tour drew to a close, these questions nagged at me and morphed into a thousand others: What if we took a heavy, formal approach, and made it lighter and more of a continuous conversation instead of a blueprint? What if you didn’t need a fully formed idea to make a contribution? What if ideas, even half-formed ones, could meet up in space and recombine with other ideas to form new ones? What if this conversation engaged more stakeholders and tolerated more excursions? Finally, what if this conversation became so rich and compelling that, instead of truncating the debate, it actually enlarged the universe of possibilities?"


Via Howard Rheingold
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Collective Intelligence and Collective Leadership: Twin Paths to Beyond Chaos. - Sprouts

Collective Intelligence and Collective Leadership: Twin Paths to Beyond Chaos. - Sprouts | Bounded Rationality and Beyond | Scoop.it

"By looking at collective intelligence (CI) through four distinct lenses, this paper draws on recent research in organizational design, evolutionary economics, cognitive sciences, knowledge ecology and political economy to built a twin path forward: collective intelligence and collective leadership. It lays out elements of a framework for building this twin path beyond chaos. It is our intent to invite conversations designed to engage questions surrounding this interdependent evolutionary path. How might we develop criteria for a design capable of supporting a large range of collective intelligence phenomena in an integrated way? Will the emergent socio-economic life forms be strong enough to balance the destructive power of our global crises if and when "the perfect storm" hits? When everything goes worse and worse, and better and better, at the same time, and they do it faster and faster, how do we deal with the ensuing chaos? In order to bring forth desirable futures, we must be ready to navigate through it, using a twin path of collective intelligence and collective leadership. This is our global challenge. This paper is the first in that will delve into the topic more deeply, expanding certain sections of this overall expose into separate albeit inter-related lines of inquiry"


Via Howard Rheingold
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