The past decade has been a triumph for behavioural economics, the fashionable cross-breed of psychology and economics. First there was the award in 2002 of the Nobel Memorial Prize in economics to a psychologist, Daniel Kahneman – the man who did as much as anything to create the field of behavioural economics. Bestselling books were…Details
It’s hard to find a place today where concepts of behavioral finance aren’t being applied to real-world situations. From London to Washington to Sydney, governments are experimenting with the psychology of decision-making and trying to “nudge” citizens toward better behaviors, whether that means saving more for retirement or signing an organ donation card. Meanwhile, businesses…Details
At the risk of enhancing stereotypes or inflaming passions I give you the following graphic. Each dot on the graphic indicates where Americans think Ukraine is. Interestingly a large number stuck it in the US itself and some particularly misguided souls dropped it into the Outback. Source – The Washington PostDetails
A new study led by the University of Exeter and Swansea University has pinpointed the changes in the brain that lead gamblers to react in the same way to near-misses as they do to winning. The research shows that near-misses are underpinned by increases in the brain’s electrical activity, particularly in the theta frequency range…Details
As a Richmond supporter and former Jeep Wrangler owner I couldn’t resist posting something on old Tom. White t-shirts are never so cool as when being worn by Tom irrespective of the weather.
Vietnam is sentencing corrupt bankers to death by firing squad. Others just get life behind bars. BANGKOK — For the most part, American bankers whose rash pursuit of profit brought on the 2008 global financial collapse didn’t get indicted. They got bonuses. Odds are that scandal would have played out differently in Vietnam, another nation…Details