Researchers from the University of California, Berkeley, National University of Singapore and University of Illinois at Urbana-Champaign (UIUC) have shown that betting decisions in a simple competitive game are influenced by the specific variants of dopamine-regulating genes in a person’s brain. Dopamine is a neurotransmitter – a chemical released by brain cells to signal other brain…
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Sir Francis Galton the creator of the concept of statistical correlation and the idea of regression to the mean also once wrote a paper on how to cut a cake scientifically. It turns out everyone has been doing it wrong – which is actually no surprise. Galtons original paper can be found here
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A central tenet in modern economics is that crashes do not happen; we all know that they do . Therefore, the maxim should be restated as crashes are not supposed to happen according to the models we have. In fact modern economic theory be it the Efficient market Hypothesis or the Dynamic Stochastic General Equilibrium are…
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More cleverness by Michael Lewis – I’d like to start by making a confession: It’s never been easy being me. Managing billions of dollars of other people’s money, and countless millions of my own, has been highly stressful. There was a time when I thought my anxiety, not to mention the investigations of my affairs…
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God I hope so…….. “We got interested in this idea because there is abundant evidence that higher socioeconomic status — higher income or wealth, higher education — does not boost subjective well-being (or happiness) much at all. Yet at the same time, many theories suggest that higher status should boost happiness.” Bugger…doesnt look like it…
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Playboy: If life is so purposeless, do you feel its worth living? Stanley Kubrick: Yes, for those who manage somehow to cope with our mortality. The very meaninglessness of life forces a man to create his own meaning. Children, of course, begin life with an untarnished sense of wonder, a capacity to experience total joy at something…
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