MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'behavioral economics'. Sat, 03 Sep 2011 02:21:58 +0100 http://www.medworm.com/index.php?rid=5181919&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2011%2F09%2F01%2Fthe-situation-of-the-inequality-getting-inequalitier%2F From PBSNewsHour: Financial gains over the last decade in the United States have been mostly made at the “tippy-top” of the economic food chain as more people fall out of the middle class. The top 20 percent of Americans now holds 84 percent of U.S. wealth, as Paul Solman found out as part of a Making Sen$e series on economic inequality. (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=5181919 Thu, 01 Sep 2011 18:34:21 +0100 5181919 http://www.medworm.com/index.php?rid=5107616&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2011%2F08%2F09%2Fthe-situation-of-antitrust-law%2F Maurice E. Stucke recently posted his thoughtful paper, “Reconsidering Antitrust’s Goals” on SSRN.  Here’s the abstract. * * * Antitrust policy today is an anomaly. On the one hand, antitrust is thriving internationally. On the other hand, antitrust’s influence has diminished domestically. Over the past thirty years, there have been fewer antitrust investigations and private actions. Today the Supreme Court complains about antitrust suits, and places greater faith in the antitrust function being subsumed in a regulatory framework. So what happened to the antitrust movement in the United States? Two import factors contributed to antitrust policy’s domestic decline. The first is salience, especially the salience of the U.S. antitrust goals. In the past thirty yea... The Situationist blogs http://www.medworm.com/rss/comments.php?id=5107616 Tue, 09 Aug 2011 05:54:43 +0100 5107616 http://www.medworm.com/index.php?rid=5096350&cid=t_147238_109_f&fid=34761&url=http%3A%2F%2Ffeeds.feedblitz.com%2F%7E%2F26606790%2F0%2Fneuromarketing%7EStronger-Contracts-Less-Trust.htm Business agreements are usually secured by written agreements that define the obligations of the parties and state what happens under various conditions. Having been party to a few business deals launched based mostly on enthusiasm and trust, I can certainly vouch for the importance of such agreements. Not everyone relies entirely on extensive documentation, though [...] CommentsGreat point, Roger. I really like this post. (Where are the ... by Ben MillerI think that in the world of business there is no place for ... by Jina ManRelated StoriesThe Upside of Irrationality by Dan ArielySecrets of the Moneylab by Kay-Yut ChenSands Research Targets 1.3 Billion Brains (Source: Neuromarketing) Neuromarketing blogs http://www.medworm.com/rss/comments.php?id=5096350 Thu, 04 Aug 2011 12:46:04 +0100 5096350 http://www.medworm.com/index.php?rid=5028470&cid=t_147238_109_f&fid=34761&url=http%3A%2F%2Ffeeds.feedblitz.com%2F%7E%2F26392869%2F0%2Fneuromarketing%7EThe-Upside-of-Irrationality-by-Dan-Ariely.htm Nobody is doing more to add to our knowledge of the irrational side of human behavior than Dan Ariely. Not only does he conduct experiments that are elegant in their simplicity, but he writes about his work and that of other researchers in a highly acccessible way. Upside is the successor to the bestselling Predictably Irrational, and it takes to new topics, ranging from CEO pay to speed dating. Comments[...] The Upside of Irrationality, Dan Ariely describes an ... by Apologies Really DO Work | Neuromarketing[...] Dooley (Neuroscience Marketing) writes about Dan Ariely ... by Can a Crappy Video Effect Your Decision Making? | Will Video for FoodThanks, nice review. I loved Predictably Irrational. I think ... by Luke FosterRelated StoriesApologies Really DO WorkSecrets of th... Neuromarketing blogs http://www.medworm.com/rss/comments.php?id=5028470 Tue, 12 Jul 2011 13:52:51 +0100 5028470 http://www.medworm.com/index.php?rid=4577934&cid=t_147238_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2011%2F03%2F12%2Ftoo-many-options-try-closing-some-doors%2F I have become increasingly aware that one of the stumbling blocks to my recovery from depression is my inability to make decisions, and my disdain for closing options. And yet closing doors is good for your sanity. Even in writing this post, I have saved the word file in five stages, so that if the material I cut out in version one seems important later on, I can go to file A and retrieve it. The horror of losing a precious sentence in penning this thing! My grieving over each decision — i.e. letting go of the options I didn’t pick — is precisely why I loathe grocery shopping and every other kind of shopping. Especially in America when you get to choose between eight kinds of apples: Washington local, organic, Pink Lady, Braeburn, Red Delicious, yada yada yada. I get over... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=4577934 Sat, 12 Mar 2011 11:54:57 +0100 4577934 http://www.medworm.com/index.php?rid=4399620&cid=t_147238_109_f&fid=34761&url=http%3A%2F%2Ffeeds.feedblitz.com%2F%7E%2F23800187%2F0%2Fneuromarketing%7ESecrets-of-the-Moneylab.htm Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovsky Economics can be dry stuff – remember “macro,” “micro,” and supply/demand curves? Fortunately, Secrets of the Moneylab is a lot more fun than Econ 101 because it focuses not on theory but on how people [...] Comments[...] described in Secrets of the Moneylab by Kay-Yut Chen and ... by It Really DOES Pay to Schmooze | NeuromarketingOur take away is that the scientific method works. Test ... by Rich and Co.[...] This post was mentioned on Twitter by Graham Hill, Roger ... by Tweets that mention Secrets of the Moneylab by Kay-Yut Chen | Neuromarketing -- Topsy.comRelated StoriesScary Thought: A Treatment for Impulse BuyingT... Neuromarketing blogs http://www.medworm.com/rss/comments.php?id=4399620 Tue, 25 Jan 2011 14:28:54 +0100 4399620 http://www.medworm.com/index.php?rid=4394531&cid=t_147238_109_f&fid=34761&url=http%3A%2F%2Ffeeds.feedblitz.com%2F%7E%2F23800187%2F0%2Fneuromarketing%7ESecrets-of-the-Moneylab-by-KayYut-Chen.htm Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovzky Economics can be dry stuff – remember “macro,” “micro,” and supply/demand curves? Fortunately, Secrets of the Moneylab is a lot more fun than Econ 101 because it focuses not on theory but on how people [...] CommentsCommentsRelated StoriesScary Thought: A Treatment for Impulse BuyingThe Price of Everything by Eduardo PorterNeuromarketing on WebProNews (Source: Neuromarketing) Neuromarketing blogs http://www.medworm.com/rss/comments.php?id=4394531 Tue, 25 Jan 2011 14:28:54 +0100 4394531 http://www.medworm.com/index.php?rid=4277817&cid=t_147238_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FCjLLM0eqWBw%2F By Jim HarperThe FCC moves forward with a proposal to regulate Internet service today. It’s a bad idea. The one thing that pleases me about the ongoing debate over Internet regulation is the durability of Tim Lee’s November, 2008 Cato Policy Analysis, “The Durable Internet: Preserving Network Neutrality without Regulation.” My introduction of it is a good synopsis. The arguments against government regulation in the name of “net neutrality” have not changed: A good engineering principle is not made better if dogmatized and given to lawyers and bureaucrats to enforce as law. The FCC and its regulatory regime are almost sure to be captured by major ISPs and turned to their benefit, used to suppress competition and blunt innovation. A premise of net neutrali... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4277817 Tue, 21 Dec 2010 17:16:32 +0100 4277817 http://www.medworm.com/index.php?rid=4055790&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F10%2F11%2Fdrazen-prelect-at-harvard-law%2F On Tuesday, October 12th, the HLS Student Association for Law and Mind Sciences (SALMS) is hosting a talk by MIT professor Drazen Prelec entitled Neuroeconomics. Professor Prelec works in the departments of Economics and Brain and Cognitive Sciences at MIT.  His research and publications have explored the insights that cognitive science can offer into the ways that the human mind makes economic decisions.  His influential work has helped to found the nascent field of neuroeconomics. Professor Drelec will be speaking in Pound 107. Free snacks will be provided! For more information, e-mail salms@law.harvard.edu. (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=4055790 Mon, 11 Oct 2010 04:01:56 +0100 4055790 http://www.medworm.com/index.php?rid=3982036&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F09%2F18%2Ftamara-piety-on-market-manipulation%2F In response to Adam Beneforado’s terrific post this week, “Breaking Up Is Easy to Do: When Corporations Dump Consumers,” Situationist friend Tamara Piety wrote another excellent comment, a portion of which we’ve posted below. * * * To me, one of most offensive examples of this type of channeling is the price discrimination practice involved in rebate/coupon schemes. Rebates and coupons are used as a way to expand the customer base by attracting a few more customers by virtue of the illusion (for most) of a lower price point. We see it in electronics all the time – “Laptop $999 [with $250 rebate]” There are several things at work here at once. One is that the seller ( or whoever actually pays the rebate) has your money for some period of time ranging from 30 days to 6 ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3982036 Sat, 18 Sep 2010 21:16:30 +0100 3982036 http://www.medworm.com/index.php?rid=3965506&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F09%2F14%2Fsituationist-corruption%2F Molly J. Walker Wilson recently posted her article, “Behavioral Decision Theory and Implications for the Supreme Court’s Campaign Finance Jurisprudence” (Cardozo Law Review, Vol. 31, p. 679, 2010) on SSRN.  Here’s the abstract. * * * America stands at a moment in history when advances in the understanding of human decision-making are increasing the strategic efficacy of political strategy. As campaign spending for the presidential race reaches hundreds of millions of dollars, the potential for harnessing the power of psychological tactics becomes considerable. Meanwhile, the Supreme Court has characterized campaign money as “speech” and has required evidence of corruption or the appearance of corruption in order to uphold restrictions on campaign expenditures. Ulti... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3965506 Tue, 14 Sep 2010 04:01:47 +0100 3965506 http://www.medworm.com/index.php?rid=3913164&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F08%2F29%2Fthe-bagel-situation%2F If you order a “bagel with cream cheese,” how much cream cheese should be provided with the bagel? That was the question my girlfriend and I pondered the other day as we drove through New Jersey futilely trying to remove half of the cream cheese on our bagels without the aid of a knife. Why is it that nearly every bagel that we buy has considerably more cream cheese than we want?  Is it that people can somehow sense that we are from Philadelphia? If some people prefer a little cream cheese and some people prefer a lot, doesn’t it make the most sense to provide a small amount of cream cheese unless someone speaks up and voices a preference for more?  That way, everyone gets exactly what they want (and no more than they want).  And people who don’t really have a strong impulse eit... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3913164 Sun, 29 Aug 2010 04:01:33 +0100 3913164 http://www.medworm.com/index.php?rid=3899461&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F08%2F25%2Flaurie-santos-on-the-evolutionary-situation-of-cognitive-biases%2F From BigThink: Dr. Laurie Santos is an Associate Professor of Psychology at Yale University. Her research provides an interface between evolutionary biology, developmental psychology, and cognitive neuroscience, exploring the evolutionary origins of the human mind by comparing the cognitive abilities of human and non-human primates. Her experiments focus on non-human primates (in captivity and in the field), incorporating methodologies from cognitive development, animal learning psychology, and cognitive neuroscience. * * * * * * From TedTalks: Laurie Santos looks for the roots of human irrationality by watching the way our primate relatives make decisions. A clever series of experiments in “monkeynomics” shows that some of the silly choices we make, monkeys make too. * * * ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3899461 Wed, 25 Aug 2010 04:01:03 +0100 3899461 http://www.medworm.com/index.php?rid=3746823&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F07%2F13%2Fwhat-a-robot-can-teach-us-about-the-situation-of-trust%2F From Northeastern University: What can a wide-eyed, talking robot teach us about trust? A lot, according to Northeastern psychology professor David DeSteno, and his colleagues, who are conducting innovative research to determine how humans decide to trust strangers — and if those decisions are accurate. (Read a Boston Globe article about this research.) The interdisciplinary research project, funded by the National Science Foundation (NSF), is being conducted in collaboration with Cynthia Breazeal, director of the MIT Media Lab’s Personal Robots Group, Robert Frank, an economist, and David Pizarro, a psychologist, both from Cornell. The researchers are examining whether nonverbal cues and gestures could affect our trustworthiness judgments. “People tend to mimic each other’s body ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3746823 Tue, 13 Jul 2010 04:01:14 +0100 3746823 http://www.medworm.com/index.php?rid=3683693&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F06%2F22%2Fthe-situation-of-subjects%2F Joe Henrich, Stephen Heine,  and Ara Norenzayan recently posted their paper, “The Weirdest People in the World?” on SSRN.  Here’s the abstract. * * * Behavioral scientists routinely publish broad claims about human psychology and behavior in the world’s top journals based on samples drawn entirely from Western, Educated, Industrialized, Rich and Democratic (WEIRD) societies. Researchers – often implicitly – assume that either there is little variation across human populations, or that these “standard subjects” are as representative of the species as any other population. Are these assumptions justified? Here, our review of the comparative database from across the behavioral sciences suggests both that there is substantial variability in experimental re... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3683693 Tue, 22 Jun 2010 04:01:57 +0100 3683693 http://www.medworm.com/index.php?rid=3567958&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F05%2F15%2Fshould-psychologists-speak-more-to-the-general-public%2F I really enjoyed reading Paul Bloom’s article, The Moral Life of Babies, in the New York Times last weekend. If you missed it, here is the intriguing opening: Not long ago, a team of researchers watched a 1-year-old boy take justice into his own hands. The boy had just seen a puppet show in which one puppet played with a ball while interacting with two other puppets. The center puppet would slide the ball to the puppet on the right, who would pass it back. And the center puppet would slide the ball to the puppet on the left . . . who would run away with it. Then the two puppets on the ends were brought down from the stage and set before the toddler. Each was placed next to a pile of treats. At this point, the toddler was asked to take a treat away from one puppet. Like most children in t... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3567958 Sun, 16 May 2010 03:39:30 +0100 3567958 http://www.medworm.com/index.php?rid=3542678&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F05%2F07%2Fmind-over-money-nova-pbs-video%2F Below the jump you can watch an outstanding and fascinating  video episode, “Mind over Money,” by PBS’s NOVA, that asks the question “Can markets be rational when humans aren’t?” and that includes significant segments describing some of the work by Situationist friend Jennifer Lerner. (We’ve placed the (52 minute) video after the jump because it plays automatically.) * * * * * * For more detailed information relevant to the episode, you can click on the following links. The Disposition Effect Trust your gut when trading stocks? Do no such thing, argues David Adler, producer of “Mind Over Money.” The Deciding Factor A new study at Harvard is exploring how emotions affect our decisions, whether we like it or not. TV Program Descrip... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3542678 Fri, 07 May 2010 04:01:42 +0100 3542678 http://www.medworm.com/index.php?rid=3499136&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F04%2F23%2Fdan-kahneman-on-the-situation-of-experience-and-memory%2F From TedTalks: “Using examples from vacations to colonoscopies, Nobel laureate and founder of behavioral economics Daniel Kahneman reveals how our “experiencing selves” and our “remembering selves” perceive happiness differently. This new insight has profound implications for economics, public policy — and our own self-awareness.” * * * * * * To sample some related Situationist posts, see “The Situation of Becoming Happier,” “Dan Kahneman on the Situation of Well-Being,” “Dan Kahneman on the Situation of Intuition,” and “Martin Seligman on Positive Psychology.” For a sample of other Situationist posts related to Kahneman’s work, see “Dan Kahneman’s Situation,” “The Situation of Financial Risk-Taking,” �... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3499136 Fri, 23 Apr 2010 05:03:00 +0100 3499136 http://www.medworm.com/index.php?rid=3386923&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F03%2F21%2Fthe-neuro-situation-of-moral-and-economic-decisions%2F From ThirteenWNET: To Steven Quartz & Colin Camerer the brain is a huge number-cruncher, assigning a numeric value to everything from a loaf of bread to our most deeply held moral “values.” In that sense, moral decisions are also economic ones. Using a brain scanner (fMRI), they want to catch the brain in the act—to see what it’s doing at exactly the moment a tough moral decision gets made. Their research is pioneering a new branch of neuroscience — neuroeconomics. * * * * * * To review a sample of related Situationist posts, see “The Legal Brain,” “Read My Brain – From Science Friday,” “The Situation of Neuroeconomics and Situationist Economics,” and “The Interior Situational Reaction to Inequality.” (Source: The... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3386923 Sun, 21 Mar 2010 04:01:46 +0100 3386923 http://www.medworm.com/index.php?rid=3216661&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F01%2F28%2Fthe-evolutionary-situation-of-behavior%2F Thomas Brennan and Andrew Lo recently published their interesting paper, titled “The Origin of Behavior,” on SSRN.  Here’s the abstract. * * * We propose a single evolutionary explanation for the origin of several behaviors that have been observed in organisms ranging from ants to human subjects, including risk-sensitive foraging, risk aversion, loss aversion, probability matching, randomization, and diversification. Given an initial population of individuals, each assigned a purely arbitrary behavior with respect to a binary choice problem, and assuming that offspring behave identically to their parents, only those behaviors linked to reproductive success will survive, and less reproductively successful behaviors will disappear at exponential rates. This framework gen... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3216661 Thu, 28 Jan 2010 05:00:54 +0100 3216661 http://www.medworm.com/index.php?rid=3212310&cid=t_147238_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FTtjt1Gia9H0%2F By Michael F. CannonIn The New York Review of Books, oncologist and author Jerome Groopman delivers a stunning rebuke to those in the Obama administration (read: OMB director Peter Orszag) who think the federal government can improve health care quality by telling doctors how to practice medicine: in the Senate health care bill…Doctors and hospitals that follow “best practices,” as defined by government-approved standards, are to receive more money and favorable public assessments. Those who deviate from federal standards would suffer financial loss and would be designated as providers of poor care… Over the past decade, federal “choice architects”—i.e., doctors and other experts acting for the government and making use of research on comparative effec... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3212310 Tue, 26 Jan 2010 21:23:41 +0100 3212310 http://www.medworm.com/index.php?rid=3156524&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2010%2F01%2F09%2Ftaking-the-situation-of-consumers-seriously%2F Situationist Contributor David Yosifon recently posted his superb article, “The Consumer Interest in Corporate Law,” (43 UC Davis Law Review 253-313 (2009)) on SSRN.  It’s an important, well written, and very situationist analysis of the influence of corporate law and corporations on consumers. Here’s the abstract. * * * This Article provides a comprehensive assessment of the consumer interest in dominant theories of the corporation and in the fundamental doctrines of corporate law. In so doing, the Article fills a void in contemporary corporate law scholarship, which has failed to give sustained attention to consumers in favor of exploring the interests of other corporate stakeholders, especially shareholders, creditors, and workers. Utilizing insights derived fr... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3156524 Sat, 09 Jan 2010 04:01:49 +0100 3156524 http://www.medworm.com/index.php?rid=3129627&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F12%2Fwhy-do-we-delay-gratification-even-when.php Earlier this year, John Tierney reviewed several studies on how delaying gratification makes us feel better in the short term by preventing guilt but makes us feel more miserable in the long term by causing regret over missed opportunities. I added my two cents here, just to note that this sounds like part of the Greg Clark story about recent genetic change in the commercial races that adapted them to the emerging mercantile societies they found themselves in. What I had in mind was the delaying of vice -- investing a dollar today rather than splurging, moderating the amount of drink or sweets you enjoy, and so on.But now Tierney has another review of related studies which show that we delay gratification even for what should be guilt-free pleasures like redeeming a gift card, using freque... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=3129627 Wed, 30 Dec 2009 05:10:00 +0100 3129627 http://www.medworm.com/index.php?rid=3067136&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F12%2F08%2Fthe-situation-of-climbing-stairs%2F * * * To read a related Situationist post, see “Busker or Virtuoso? Depends on the Situation” “Journalists as Social Psychologists & Social Psychologists as Entertainers,” “Changing Choices by Changing Situations.” (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=3067136 Tue, 08 Dec 2009 04:01:47 +0100 3067136 http://www.medworm.com/index.php?rid=3019085&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F23%2Fa-mental-budget-for-the-holidays%2F From EurekaAlert: If you feel like you’re in a losing battle with a triple-chocolate cake, a “mental budget” can help, according to a new study in the Journal of Consumer Research. “There are some behaviors that consumers try to limit but have trouble doing so,” write authors Parthasarathy Krishnamurthy . . . and Sonja Prokopec . . . . “Even as one aims to curtail consumption of sugars and fat, one ends up consuming the tiramisu or the triple-chocolate cake. Such discrepancies between one’s goals and actual behaviors represent instances of self-control failure.” Overconsumption is a serious issue in the United States. For example, National Institutes of Health statistics show that two-thirds of American adults are overweight, with associated ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=3019085 Mon, 23 Nov 2009 04:01:57 +0100 3019085 http://www.medworm.com/index.php?rid=3017104&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F22%2Fthe-situation-of-cheating%2F Behavioral economist Dan Ariely, in the following video, describes one of his fascinating studies on the situation of cheating. * * * * * * For a sample of related Situationist posts, see “The Interior Situation of Honesty (and Dishonesty),” “The Situation of Lying,” “The Facial Obviousness of Lying,” “Cheating Doesn’t Pay . . . So Why So Much of it?,” “Dan Ariely, a Situationist,” “Dan Ariely on Cheating,”and “Unclean Hands.” (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=3017104 Sun, 22 Nov 2009 04:01:15 +0100 3017104 http://www.medworm.com/index.php?rid=2999617&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F17%2Fthe-situation-of-the-invisible-hand%2F Yesterday, Paul Rosenberg published an intriguing situationist piece at Open Left about the context and meaning of Adam Smith’s “invisible hand.”   Here are some excerpts. * * * What if Adam Smith’s “invisible hand” argument doesn’t mean what we think it means?  What if it doesn’t mean that everything else but the “free market” can and should be ignored?  What if if Smith actually depended on social and historical context in order to make his argument in the first place? What if it was an argument deeply dependent on what . . . The Situationist blog calls “the situation”? In fact, that’s exactly what happened! Recently, Berkeley economist Brad DeLong posted “Yet Another Note on Adam Smith’s &#8216... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2999617 Tue, 17 Nov 2009 04:01:50 +0100 2999617 http://www.medworm.com/index.php?rid=2989220&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F13%2Fthe-situation-of-lawyers-complicity%2F This article seeks to fill that gap. Drawing on research from behavioral and social psychology, it suggests that lawyers’ apparent lapses in judgment may be caused by cognitive biases arising from partisan kinship between lawyer and client. The article uses identity theory to distinguish particular situations in which attorney judgment is likely to be compromised, and it recommends strategies to enhance attorney independence and minimize judgment errors. * * * You can download the article for free here.  For a sample of related Situationist posts, see “Gatekeepers Inside Out – Abstract,” “The Situation of Lawyers and Practicing Law,” “Law, Chicken Sexing, Torture Memo, and Situation Sense,” “The Situation of John Yoo and the Torture Memos,�... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2989220 Fri, 13 Nov 2009 04:01:09 +0100 2989220 http://www.medworm.com/index.php?rid=2971942&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F11%2F08%2Fdan-gilbert-on-why-the-brain-scares-itself%2F For the Harvard Law Record, Harvard Law Students, Anush Emelianova and Gustavo Ribeiro, wrote a nice summary of Dan Gilbert’s recent lecture at Harvard Law School.  His lecture, titled “Why Does the Brain Scare Itself?,” drew a  crowd of roughly 150 students and contributed to Gilbert’s reputation as an amazing and captivating speaker.    Here’s Emilianova and Ribeiro’s description. * * * Why does the brain scare itself?  On Monday, October 19, Professor Dan Gilbert confronted this question in an event sponsored by first-year Section VI. Professor Gilbert, who wrote  the bestselling book Stumbling on Happiness, is a Professor of Psychology at Harvard University and the Director of Harvard’s Hedonic Psychology Laboratory. He opened his remarks by ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2971942 Sun, 08 Nov 2009 15:12:41 +0100 2971942 http://www.medworm.com/index.php?rid=2931033&cid=t_147238_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F10%2F26%2Fbehavioral-economics-this-is-your-brain-on-money%2F It doesn’t take a genius to figure out that with recession-related anxiety saturating the very air we breathe, we might be a bit slow to trust our financial decisions. For decades, economists did not find much merit in connecting psychology with finance. That changed when a young economics professor from the University of Chicago, Richard Thaler, introduced himself to two Israeli psychologists, Daniel Kahneman and Amos Tversky. Together they are credited with founding behavioral economics. Behavioral economics, and its close cousin, neuroeconomics, combines the disciplines of neuroscience, economics, and psychology to study how people make financial decisions. Using Psychology to Save You From Yourself, an National Public Radio podcast, explains the origins and development of behavio... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2931033 Tue, 27 Oct 2009 01:35:33 +0100 2931033 http://www.medworm.com/index.php?rid=2904947&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F10%2F19%2Fdan-gilbert-on-the-situation-of-our-decisions%2F Situationist friend Dan Gilbert, who will be speaking today at Harvard Law School (details here), recently completed another fascinating TedTalk. Here is their summary:   “Dan Gilbert presents research and data from his exploration of happiness — sharing some surprising tests and experiments that you can also try on yourself. Watch through to the end for a sparkling Q&A with some familiar TED faces.”  Here’s the video. * * * * * * For a sample of previous Situationist posts by or about Dan Gilbert and his work, see “The Situational Consequences of Uncertainty,” “Dan Gilbert on the Situation of Psychology,” “Something to Smile About,” “The Situation of Climate Change,” “The Heat is On,” “Don’t ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2904947 Mon, 19 Oct 2009 04:15:02 +0100 2904947 http://www.medworm.com/index.php?rid=2902826&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F10%2F18%2Fdan-gilbert-to-speak-at-harvard-law-school%2F For more details, click here. (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=2902826 Sun, 18 Oct 2009 04:01:32 +0100 2902826 http://www.medworm.com/index.php?rid=2865744&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F10%2F06%2Fthe-problem-of-old-fears-and-new-dangers%2F A few weeks ago, the grandfather of law and economics, Richard Posner, decided to weigh in on President Obama’s proposal for a Consumer Financial Protection Agency (CFPA), which would regulate consumer financial products including mortgages and credit cards.  He bemoaned the idea of a new regulatory body—dismissing it as the misguided vision of a cadre of idealistic behavioral economists. As he explained, in an op-ed in the Wall Street Journal, “Behavioral economists are right to point to the limitations of human cognition.  But if they have the same cognitive limitations as consumers, should they be designing systems of consumer protection?” The enemy is a familiar one for Posner and any self-respecting classical liberal: paternalism. Posner’s concern is that “the agency wil... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2865744 Tue, 06 Oct 2009 05:16:10 +0100 2865744 http://www.medworm.com/index.php?rid=2832224&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F09%2F25%2Fposner-on-keynes-and-the-economic-depression%2F Judge Richard Posner just published an essay, “How I Became a Keynesian” in the New Republic.  In it he describes how the economic depression led him to go back to read Keynes’s The General Theory of Employment, Interest, and Money and his new-found appreciation for Keynes and elements of Keynesianism.  Here are some excerpts. * * * I knew that John Maynard Keynes was widely considered the greatest economist of the twentieth century, and I knew of his book’s extraordinary reputation. But it was a work of macroeconomics–the study of economy-wide phenomena such as inflation, the business cycle, and economic growth. Law, and hence the economics of law–my academic field–did not figure largely in the regulation of those phenomena. And I had heard that... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2832224 Fri, 25 Sep 2009 04:01:50 +0100 2832224 http://www.medworm.com/index.php?rid=2814619&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F09%2Fhigh-time-preference-windfall-earnings.php Tyler Cowen points me to this article from last spring about the profligacy of professional athletes. Here are numbers which seem constructed for the sake of plausibility more than anything else:* By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.* Within five years of retirement, an estimated 60% of former NBA players are broke.It shouldn't be that hard to track down a large number of former players and try and make the sample representative, and assess what their financial situation is. This looks like a "natural experiment" waiting to be mined for data (perhaps someone already has, if so, pointers in the comments welcome). Here's the part which shows time preference inclinations ... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2814619 Sun, 20 Sep 2009 19:14:00 +0100 2814619 http://www.medworm.com/index.php?rid=2790371&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F09%2Ftaste-of-wine.php Expectations influence sensory experience in a wine tasting:Information about a product may shape consumers' taste experience. In a wine tasting experiment, participants received (positive or negative) information about the wine prior to or after the tasting. When the information was given prior to the tasting, negative information about the wine resulted in lower ratings compared to the group that received positive information. No such effect was observed when participants received the information after the tasting but before they evaluated the wine. Results suggest that the information about the wine affected the experience itself and not only participants’ overall assessment of the wine after the tasting.Also, see ScienceDaily for a summary. Felix Salmon has another post, Tasting wine... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2790371 Sat, 12 Sep 2009 20:04:00 +0100 2790371 http://www.medworm.com/index.php?rid=2737778&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F08%2F27%2Ftoward-a-situationist-perspective-on-regulation%2F Tobin Project Program Officer and Situationist friend, John Cisternino, has an important new co-edited book, titled “New Perspectives on Regulation.”  Here’s the abstract. * * * New regulation shouldn’t rely on old ideas. Since the 1960s, influential research on government failure helped to drive the movement for deregulation and privatization. Yet even as this branch of research was flourishing, very different ideas were sprouting in the social sciences with profound implications for our understanding of human behavior and the role of government. Some of these ideas, particularly from the field of behavioral economics, have begun to enter into discussions of regulatory purpose, design, and implementation. The process is far from complete, and many other exciting n... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2737778 Thu, 27 Aug 2009 04:01:50 +0100 2737778 http://www.medworm.com/index.php?rid=2730293&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F08%2Frisk-personality-and-testosterone.php Gender differences in financial risk aversion and career choices are affected by testosterone:Women are generally more risk averse than men. We investigated whether between- and within-gender variation in financial risk aversion was accounted for by variation in salivary concentrations of testosterone and in markers of prenatal testosterone exposure in a sample of >500 MBA students. Higher levels of circulating testosterone were associated with lower risk aversion among women, but not among men. At comparably low concentrations of salivary testosterone, however, the gender difference in risk aversion disappeared, suggesting that testosterone has nonlinear effects on risk aversion regardless of gender. A similar relationship between risk aversion and testosterone was also found using marker... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2730293 Tue, 25 Aug 2009 04:37:00 +0100 2730293 http://www.medworm.com/index.php?rid=2727164&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F08%2F24%2Fis-there-an-objective-reality-outside-of-our-beliefs-%25e2%2580%2594-big-think%2F The good folks at Big Think interviewed behavioral economist Dan Ariely and asked him about the the nature of objective reality. Among other things, Ariely had this to say: It turns out that if a physician comes to you and injects you with whatever – saline water – your body expects pain relief.  And your body secretes substances that are very much like morphine.  So it doesn’t matter what you get from the injection.  You actually get pain relief from your own body as a reaction to that.  Now you can’t just close your eyes and say, “Please can I have some pain killers.”  That doesn’t work.  But when a physician injects you with anything – even saline water – you get the pain relief that is actually a substance you can’t buy over the counter.  It’s like morphine... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2727164 Mon, 24 Aug 2009 04:01:08 +0100 2727164 http://www.medworm.com/index.php?rid=2716150&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F08%2Fgreater-fool-theory-1-mostly-verbal.php Here is a brief description of the idea that price bubbles are caused by people buying something, not necessarily because they think it's worth anything, but because they think they can find an even greater fool to buy it at a higher price. This continues until no more such fools can be found, and this bust drives prices back down to what they were before the boom began.I didn't see any references to mathematical models of the theory at Wikipedia or through Googling around a bit, so I made one up today at Starbucks since I didn't have anything to read to pass the time. Because I'm not an economist, I don't know how original it is, or how it compares with alternative models of the greater fool theory (if they exist). So, this is intended just as an exercise in modeling, explaining the model... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2716150 Thu, 20 Aug 2009 04:22:00 +0100 2716150 http://www.medworm.com/index.php?rid=2712156&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F08%2F19%2Fthe-situation-of-parochialism-abstract%2F Jonathan Baron recently posted his interesting paper, titled “Parochialism as a Result of Cognitive Biases” on SSRN.  Here’s the abstract. * * * I discuss several forms of bias, or fallacious thinking, that lead to parochialism, that is, a willingness to sacrifice self-interest for in-group members while neglecting or underweighing negative effects on outsiders, so that an out-group could lose more than the in-group gains from the sacrifice. In the self-interest illusion, people fallaciously think that their contribution to their group comes back to benefit them and make their sacrifice worthwhile. This illusion is larger when an outgroup is affected, and it is specific to group benefits; it is unrelated to the desire to hurt another group out of sheer competition. A se... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2712156 Wed, 19 Aug 2009 04:01:56 +0100 2712156 http://www.medworm.com/index.php?rid=2662534&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F08%2F02%2Fa-situationist-view-of-criminal-prosecutors%2F Barbara O’Brien has recently posted her interesting article, “A Recipe for Bias: An Empirical Look at the Interplay between Institutional Incentives and Bounded Rationality in Prosecutorial Decision Making” (forthcoming in Missouri Law Review, 2009) on SSRN.  Here’s the abstract. * * * Prosecutors wield tremendous power, which is kept in check by a set of unique ethical obligations. In explaining why prosecutors sometimes fail to honor these multiple and arguably divergent obligations, scholars tend to fall into two schools of thought. The first school focuses upon institutional incentives that promote abuses of power. These scholars implicitly treat the prosecutor as a rational actor who decides whether to comply with a rule based on an assessment of the expected ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2662534 Sun, 02 Aug 2009 04:01:23 +0100 2662534 http://www.medworm.com/index.php?rid=2616722&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F07%2F20%2Fthe-situation-of-homogeneity%2F This summer, I have finally gotten around to reading Richard Thaler and Cass Sunstein’s book Nudge and, unsurprisingly, there is much in the book that parallels situationist work.  Indeed, many (if not most) of the referenced social psychology experiments and dynamics should already be familiar to readers of this website. One paragraph that I came across this morning particularly struck a chord with me because it took up a topic that I addressed not a month earlier in an op-ed in the Baltimore Sun: the problem with “collaborative filtering,” whereby consumers are given recommendations based on the preferences of others with identical tastes.  As Thaler and Sunstein explain, [S]urprise and serendipity can be fun for people, and good for them too, and it may not be entirely wonderful... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2616722 Mon, 20 Jul 2009 04:01:47 +0100 2616722 http://www.medworm.com/index.php?rid=2594575&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F07%2Fhomo-sapiens-not-economicus.php Robert Frank is promoting his idea that Charles Darwin will become more important than Adam Smith as an intellectual forebear of future economics in The New York Times. That is fine as it goes but I suspect that the bigger issue in the sciences of humanity is that there will be problems with relying on only one disciplinary framework and one general model. For example Frank points out that evolutionary fitness is generally conceived of in a relative sense (population mean fitness being the baseline), but the same dynamic crops up in neuroscience due to biophysical computational efficiencies from relative heuristics as opposed to a laundry list of absolute fixed preferences. R. A. Fisher famously wished to lay the seedbed for a thermodynamics of evolution in The Genetical Theory of Natural ... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2594575 Sun, 12 Jul 2009 22:43:00 +0100 2594575 http://www.medworm.com/index.php?rid=2571040&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F07%2Fgladwell-at-it-again.php In the new issue of The New Yorker, Malcolm Gladwell reviews some book about using the appeal of FREE to grow your business. This is supposed to apply most strongly to information, so that as more and more of a firm's product / service consists of information, the more it can use the appeal of FREE to earn money.What both Gladwell and the reviewed book's author, Chris Anderson, don't seem to realize is that the appeal of FREE creates pathological behavior.Gladwell even cites a revealing behavioral economics experiment by Dan Ariely:Ariely offered a group of subjects a choice between two kinds of chocolate -- Hershey's Kisses, for one cent, and Lindt truffles, for fifteen cents. Three-quarters of the subjects chose the truffles. Then he redid the experiment, reducing the price of both choco... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2571040 Thu, 02 Jul 2009 20:22:00 +0100 2571040 http://www.medworm.com/index.php?rid=2452657&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F06%2F05%2Fdan-ariely-as-a-situationist%2F In the following TED Talk video, Dan Ariely, Professor of Economics at Duke University, behavioral economist, and the author of Predictably Irrational, offers some now-standard but still interesting illustrations of how situation influences our perception and choices. * * * * * * To read (or watch) some related Situationist posts, see “Dan Ariely on Cheating,” “Free To Not Choose,” “Why You Bought That,” “Just Choose It,” “Neuroscience and Illusion,” “Brain Magic,” “Magic is in the Mind,” and “The Situation of Illusion,” “Irrelevant Third Options in Presidential Campaigns.” (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=2452657 Fri, 05 Jun 2009 04:01:57 +0100 2452657 http://www.medworm.com/index.php?rid=2442299&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F05%2Fscience-of-fear-and-some-data-on-media.php Since the world started falling apart, books on how crazy we are have never been more popular. Most focus on findings from behavior economics that show how human beings deviate from homo economicus in making decisions, and The Science of Fear by Daniel Gardner is no different. Unlike the others in this newly sexy genre, though, he doesn't look at economic decisions very much, but instead on how we assess risk -- sometimes to our own harm. Consider those who, in the panic after 9/11, switched from riding airplanes to the more dangerous mode of cars and died in car crashes.I won't review the book at length since it's an easy read and well written -- worth adding to your "crazy f.ing humans" summer reading list. For a taste, though, here's the author speaking on The Leonard Lopate Show.Gardne... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2442299 Fri, 22 May 2009 09:10:00 +0100 2442299 http://www.medworm.com/index.php?rid=2442302&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F05%2Foxtr-prosociality.php The Oxytocin Receptor (OXTR) Contributes to Prosocial Fund Allocations in the Dictator Game and the Social Value Orientations Task:The demonstration that genetic polymorphisms for the OXTR are associated with human prosocial decision making converges with a large body of animal research showing that oxytocin is an important social hormone across vertebrates including Homo sapiens. Individual differences in prosocial behavior have been shown by twin studies to have a substantial genetic basis and the current investigation demonstrates that common variants in the oxytocin receptor gene, an important element of mammalian social circuitry, underlie such individual differences.Here's a figure from the paper:And the SNPs from the HGDP (G = C & A = T for the first SNP, or at least the paper a... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2442302 Thu, 21 May 2009 06:19:00 +0100 2442302 http://www.medworm.com/index.php?rid=2405840&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F05%2F5-httlpr-neuroeconomics.php A Genetically Mediated Bias in Decision Making Driven by Failure of Amygdala Control:Genetic variation at the serotonin transporter-linked polymorphic region (5-HTTLPR) is associated with altered amygdala reactivity and lack of prefrontal regulatory control. Similar regions mediate decision-making biases driven by contextual cues and ambiguity, for example the "framing effect." We hypothesized that individuals hemozygous for the short (s) allele at the 5-HTTLPR would be more susceptible to framing. Participants, selected as homozygous for either the long (la) or s allele, performed a decision-making task where they made choices between receiving an amount of money for certain and taking a gamble. A strong bias was evident toward choosing the certain option when the option was phrased in te... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2405840 Mon, 11 May 2009 05:45:00 +0100 2405840 http://www.medworm.com/index.php?rid=2367929&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F04%2Fsmart-people-act-more-rationally-in.php Cognitive skills affect economic preferences, strategic behavior, and job attachment:Economic analysis has so far said little about how an individual's cognitive skills (CS) are related to the individual's economic preferences in different choice domains, such as risk taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee truckers we report three findings. First, there is a strong and significant relationship between an individual's CS and preferences. Individuals with better CS are more patient, in both short- and long-run. Better CS are also associated with a greater willingness to take calculated risks. Second, CS predict social awareness and choices in a sequential Prisoner's Dilemma game. Subjects with better CS more accur... Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2367929 Sat, 25 Apr 2009 06:04:00 +0100 2367929 http://www.medworm.com/index.php?rid=2365321&cid=t_147238_131_f&fid=34994&url=http%3A%2F%2Fwww.gnxp.com%2Fblog%2F2009%2F04%2Fsex-choice.php Steve points out that Geoffrey Miller has a new book that's going to come out soon, Spent: Sex, Evolution, and Consumer Behavior. More directly related to the topic of sex and decision-making, The Heat of the Moment: The Effect of Sexual Arousal on Sexual Decision Making. Read the whole paper, but I have a figure from it below.... (Source: Gene Expression) Gene Expression blogs http://www.medworm.com/rss/comments.php?id=2365321 Fri, 24 Apr 2009 03:48:00 +0100 2365321 http://www.medworm.com/index.php?rid=2287162&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F03%2F22%2Fthe-situation-of-29-the-downside-of-goal-setting%2F An article by Drake Bennett in the Boston Globe explores the idea that a significant contributor to GM’s woes can be attributed to an apparently innocuous decision — the pledge to return to its former state of having 29% of the American auto market. The article is excerpted below. * * * The argument is not that goal setting doesn’t work - it does, just not always in the way we intend. “It can focus attention too much, or on the wrong things; it can lead to crazy behaviors to get people to achieve them,” says Adam Galinsky, a professor at Northwestern University’s Kellogg School of Management, and coauthor of “Goals Gone Wild,” a paper in the current issue of a leading management journal. “Goal setting has been treated like an over-the-c... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2287162 Sun, 22 Mar 2009 04:01:45 +0100 2287162 http://www.medworm.com/index.php?rid=2287163&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F03%2F21%2Fdan-ariely-on-cheating%2F From TED: “Behavioral economist Dan Ariely studies the bugs in our moral code: the hidden reasons we think it’s OK to cheat or steal (sometimes). Clever studies help make his point that we’re predictably irrational — and can be influenced in ways we can’t grasp.” * * * To read a related Situationist post, see “Predictably Irrational.” (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=2287163 Sat, 21 Mar 2009 04:01:19 +0100 2287163 http://www.medworm.com/index.php?rid=2098190&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F01%2F12%2Fdan-kahneman-on-the-situation-of-well-being%2F In Part II of his 2007 Hitchcock Lectures (titled “Explorations of the Mind - Well-Being: Living and Thinking About It“) , Daniel Kahneman explores meaning and causes of well-being: * * * To view Part I of the lecture series, see “Dan Kahneman on the Situation of Intuition.” For a collection of videos of Dan Kahneman, click here.  For a sample of other Situationist posts related to Kahneman’s work, see “Dan Kahneman’s Situation,” “The Situation of Financial Risk-Taking,” “Some (Interior) Situational Sources War – Part I,” and “Some (Interior) Situational Sources War – Part II.”        (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=2098190 Mon, 12 Jan 2009 14:00:32 +0100 2098190 http://www.medworm.com/index.php?rid=2087302&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F01%2F08%2Fdan-kahneman-on-the-situation-of-intuition%2F In Part I of his 2007 Hitchcock Lectures (titled “Explorations of the Mind - Intuition: The Marvels and the Flaws“), Daniel Kahneman explores the idea of intuition: For a sample of other Situationist posts related to Kahneman’s work, see “Dan Kahneman’s Situation,” “The Situation of Financial Risk-Taking,” “Some (Interior) Situational Sources War – Part I,” and “Some (Interior) Situational Sources War – Part II.”        (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=2087302 Thu, 08 Jan 2009 04:01:45 +0100 2087302 http://www.medworm.com/index.php?rid=2081386&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F01%2F06%2Ftaking-behavioralism-seriously-part-i-abstract-and-top-ten-list%2F This article highlights some of those implications and makes several predictions that are tested in other work. * * * SSRN has just announced its Journal of Behavioral & Experimental Economics and Journal of Behavioral Economics Top Ten lists for papers posted in the last 60 days.  Taking Behavioralism Seriously made both lists. To download the paper for free click here.  That link will direct you to the abstract and various download options.  To download the companion article, Taking Behavioralism Seriously: Som Evidence of Market Manipulation (112 Harvard L. Rev. 1420) click here. For a sample of related Situationist posts, see “Promoting Smoking through Situation” and “The Situation of Subprime Mortgage Contracts - Abstract.”     &nb... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2081386 Tue, 06 Jan 2009 04:08:59 +0100 2081386 http://www.medworm.com/index.php?rid=2078890&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F01%2F05%2Fbehavioral-economics-and-policy%2F Last month, Rick Montgomery wrote an interesting article, “Behavioral Economics Is Moving from Theory to Policy,” for the Kansas City Star.  Here are some excerpts. * * * As the economy sinks and investors buckle over, the behavior buffs are rising up. From the lesser-appointed corners of academia, psychologists, sociologists and a youthful breed of economists scoff at the revered mathematical models that have driven economic thought and snared Nobel Prizes. These preachers of “behavioral economics,” including some on President-elect Barack Obama’s economic team, argue that humans cannot be relied upon to obey the efficient, orderly tenets espoused by free-market thinkers. Chief among the old-school rules is the assumption that we act rationally with money. “That’s a... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2078890 Mon, 05 Jan 2009 05:52:09 +0100 2078890 http://www.medworm.com/index.php?rid=2033884&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F12%2F13%2Fthe-situation-of-subprime-mortgage-contracts-abstrat%2F Oren Bar-Gill recently published his interesting paper, “The Law, Economics and Psychology of Subprime Mortgage Contracts” (forthcoming Cornell Law Review, Vol. 94, 2009) on SSRN.  Here’s the abstract. * * * Over 4 million subprime loans were originated in 2006, bringing the total value of outstanding subprime loans over a trillion dollars. A few months later the subprime crisis began, with soaring foreclosure rates and hundreds of billions, perhaps trillions, of dollars in losses to borrowers, lenders, neighborhoods and cities, not to mention broader effects on the US and world economy. In this Article, I focus on the subprime mortgage contract and its central design features. I argue that these contractual design features can be explained as a rational market response... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2033884 Sat, 13 Dec 2008 04:01:21 +0100 2033884 http://www.medworm.com/index.php?rid=2011683&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F12%2F04%2Fbehavioral-criminal-law-and-economics-abstract%2F Richard McAdams and Thomas Ulen recently posted their paper, “Behavioral Criminal Law and Economics,” on SSRN.  Here’s the paper’s abstract. * * * A behavioral economics literature identifies how behaviorally-derived assumptions affect the economic analysis of criminal law and public law enforcement. We review and extend that literature. Specifically, we consider the effect of cognitive biases, prospect theory, hedonic adaptation, hyperbolic discounting, fairness preferences, and other deviations from standard economic assumptions on the optimal rules for deterring potential offenders and for regulating (or motivating) potential crime victims, legislators, police, prosecutors, judges, and juries. * * * For those interested in a more detailed summary, we have excerp... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2011683 Thu, 04 Dec 2008 14:51:39 +0100 2011683 http://www.medworm.com/index.php?rid=1945597&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F11%2F09%2Fdan-kahnemans-situation%2F In the following video, Harry Kreisler interviews Princeton Psychology Professor and Nobel Laureate Daniel Kahneman about his life as well as his research on intuition and decision making.        (Source: The Situationist) The Situationist blogs http://www.medworm.com/rss/comments.php?id=1945597 Sun, 09 Nov 2008 05:08:56 +0100 1945597 http://www.medworm.com/index.php?rid=1848201&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F10%2F03%2Fsituational-sway%2F From AtGoogleTalks (54 minutes): Ori Brafman and his brother Rom Brafman visit Google’s Mountain View, CA headquarters to discuss Ori’s book “Sway: The Irresistible Pull of Irrational Behavior.” This event took place on June 13, 2008, as part of the Authors@Google series. Why is it so difficult to sell a plummeting stock or end a doomed relationship? Why do we listen to advice just because it came from someone “important”? Why are we more likely to fall in love when there’s danger involved? In Sway, renowned organizational thinker Ori Brafman and his brother, psychologist Rom Brafman, answer all these questions and more. Drawing on cutting-edge research from the fields of social psychology, behavioral economics, and organizational behavior, Sway r... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1848201 Fri, 03 Oct 2008 04:01:10 +0100 1848201 http://www.medworm.com/index.php?rid=1845228&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F10%2F02%2Fa-situationist-critique-of-legal-theory-abstract%2F Situationist contributor David Yosifon has recently posted his excellent article, “Legal Theoretic Inadequacy and Obesity Epidemic Analysis” (forthcoming 15 George Mason Law Review (2008)) on SSRN.  Here’s the abstract. * * * This Article explores crucial analytic and normative limitations in presently dominant and ascendant approaches to legal theory. The approaches’ failure to provide a satisfying framework for analyzing the obesity epidemic presently raging undeterred in American society reveals these limitations. Conventional law and economics scholars writing on the subject have deployed familiar frameworks to reach predictable conclusions that are neither intellectually nor morally justifiable. This Article argues that recent theoretical innovations promulgat... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1845228 Thu, 02 Oct 2008 04:01:03 +0100 1845228 http://www.medworm.com/index.php?rid=1837588&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F09%2F29%2Fbracelet-based-policy-making%2F Ever wonder why so much time is spent comparing jewelry and telling personal anecdotes in presidential debates (see short video above), even as many of the larger policy questions remain largely unexplored?  There are, of course, many reasons (some of which have been noted in previous Situationist posts), but Friday’s wrist-off reminded us of one key contributor: “the identifiable victim effect” –  greater sympathy is felt for identifiable victims than for statistical victims. George Loewenstein, Deborah Small, and Jeff Strnad have an excellent 2005 paper, “Statistical, Identifiable and Iconic Victims and Perpetrators” (available for free downloading on SSRN), discussing that effect and its role in policymaking. Their introduction includes this paragra... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1837588 Mon, 29 Sep 2008 04:01:28 +0100 1837588 http://www.medworm.com/index.php?rid=1826362&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F09%2F24%2Fthe-situation-of-financial-risk-taking-2%2F [This post was first published in February of 2008.] In 1986, Salomon Brothers, an investment bank, was known as “the King of Wall Street.” The Salomon atmosphere has since been hilariously depicted in Michael Lewis’s now-classic Liar’s Poker, in which he recounts his experiences at the firm. He opens the book with the following anecdote. It was sometime early in 1986, the first year of the decline of my firm, Salomon Brothers. Our chairman, John Gutfreund, left his desk at the head of the trading floor and went for a walk. At any given moment on the trading floor billions of dollars were being risked by bond traders. Gutfreund took the pulse of the place by simply wandering around it and asking questions of the traders. An eerie sixth sense guided him to wherever a... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1826362 Wed, 24 Sep 2008 19:00:50 +0100 1826362 http://www.medworm.com/index.php?rid=1791758&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F09%2F15%2Fthe-situationist-overwhelmed-with-visitors-return-later-if-necessary%2F Noah J. Goldstein, Steve J. Martin, and Robert B. Cialdini have a new book, titled “Yes!: 50 Scientifically Proven Ways to Be Persuasive.”  As you might have guessed, it makes a compelling case for itself.  Here’s an excerpt. * * * How can inconveniencing your audience increase your persuasiveness? Colleen Szot is one of the most successful writers in the paid programming industry. And for good reason: In addition to penning several well-known “infomercials” for the famed and fast-selling NordicTrac exercise machine, she recently authored a program that shattered a nearly twenty-year sales record for a home-shopping channel. Although her programs retain many of the elements common to most infomercials, including flashy catchphrases, an unrealistically enthus... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1791758 Mon, 15 Sep 2008 04:01:13 +0100 1791758 http://www.medworm.com/index.php?rid=1743025&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F30%2Fbig-calories-come-in-small-packages%2F From Robert Roy Britt’s article, “Small Packages Trick People to Eat More.” * * * If you think buying junk food in small packages will help you eat less, look out — marketers know the truth. Two new marketing studies found that some people tend to consume more calories when junk food portions and packages are smaller. For some, it’s because they perceive small packages to be . . . get this . . . diet food. For others, it’s just the temptation of small sins. * * * Manufacturers are releasing more and more products in smaller packages. And in recent years, several brand-name products, from chips to cookies to candy, have been released in smaller packages promoted as having just 100 calories. In terms of sales, the tactic has proven successful, past research s... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1743025 Sat, 30 Aug 2008 04:01:15 +0100 1743025 http://www.medworm.com/index.php?rid=1723772&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F22%2Fthe-situation-of-neuroeconomics-and-situationist-economics%2F In July, The Economist had a nice article on the burgeoning field of neuroeconomics, titled “Do Economists Need Brains.” We’ve excerpted a few chunks from that article below. * * * In the late 1990s a generation of academic economists had their eyes opened by Mr LeDoux’s and other accounts of how studies of the brain using recently developed techniques such as magnetic resonance imaging (MRI) showed that different bits of the old grey matter are associated with different sorts of emotional and decision-making activity. The amygdalas are an example. Neuroscientists have shown that these almond-shaped clusters of neurons deep inside the medial temporal lobes play a key role in the formation of emotional responses such as fear. These new neuroeconomists saw that it might ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1723772 Fri, 22 Aug 2008 04:48:33 +0100 1723772 http://www.medworm.com/index.php?rid=1720620&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F21%2Fthe-situation-of-eating-part-ii%2F Monday’s Boston Globe had a nice article, titled “Environmental cues affect how much you eat,” by Judy Foreman on the Situation of Eating. We’ve included the introduction below. * * * Next time you sit down to dinner, dim the lights - but not too much. Both bright light and dim light may make you eat more. Watch the background music, too. If it’s too fast, you’ll eat fast, and therefore more; too slow and you’ll keep eating. And think small for plates - a portion that looks skimpy on a dinner plate looks ample on a salad plate. The more that researchers study obesity, the more they are finding that portion control is key to successful weight loss. Often, people think they’re eating much less than really are. And these perceptions can be influ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1720620 Thu, 21 Aug 2008 05:59:20 +0100 1720620 http://www.medworm.com/index.php?rid=1720621&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F20%2Flegal-academic-backlash-abstract%2F This article is the third of a multipart series. The first part, “The Great Attributional Divide,” argues that a major rift runs across many of our major policy debates based on our attributional tendencies: the less accurate dispositionist approach, which explains outcomes and behavior with reference to people’s dispositions (i.e., personalities, preferences, and the like), and the more accurate situationist approach, which bases attributions of causation and responsibility on unseen influences within us and around us. The second part, “Naive Cynicism,” explores how dispositionism maintains its dominance despite the fact that it misses so much of what actually moves us. It argues that the answer lies in a subordinate dynamic and discourse, naive cynicism: the... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1720621 Wed, 20 Aug 2008 16:00:48 +0100 1720621 http://www.medworm.com/index.php?rid=1717683&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F19%2Fseeing-michael-phelpss-gold-medal-situation%2F Sam Sommers has another excellent (situationist) post, titled “The Greatest Ever? Not So Fast . . .” over at Psychology Today Blog. Sommers’s post is worth reading in its entirety (here), but here are a few particularly situationist excerpts. * * * U.S. Swimmer Michael Phelps just won his 8th gold medal of the Beijing Olympics tonight, the 14th gold of his career. These are feats that have never been accomplished before, and it’s hard to argue with the conclusion that his is the greatest Olympic performance of all time. Some in the sporting world (and beyond) are also calling Phelps the greatest athlete of all time. But not so fast—a number of psychological considerations suggest that the pundits (and public) are likely getting a bit carried away. Before I go an... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1717683 Tue, 19 Aug 2008 20:00:50 +0100 1717683 http://www.medworm.com/index.php?rid=1696502&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F10%2Fthe-political-situation-of-judicial-activism%2F Thomas Miles and Cass Sunstein recently published their important new paper, “Depoliticizing Administrative Law ,” on SSRN. Here is the abstract. * * * A large body of empirical evidence demonstrates that judicial review of agency action is highly politicized, in the sense that Republican appointees are significantly more likely to invalidate liberal agency decisions than conservative ones, while Democratic appointees are significantly more likely to invalidate conservative agency decisions than liberal ones. These results hold for both (a) judicial review of agency interpretations of law and (b) judicial review of agency decisions for “arbitrariness” on questions of policy and fact. On the federal courts of appeals, the most highly politicized voting patterns are f... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1696502 Mon, 11 Aug 2008 03:59:42 +0100 1696502 http://www.medworm.com/index.php?rid=1677465&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F08%2F04%2Fsituationisms-improving-situation%2F In July Dan Finkelstein had a nice article in The Times titled “The social psychology revolution is reaching its tipping point.” In it, Finkelstein describes how relatively situationist ideas are beginning to influence policy theory and policy itself. Here are some excerpts. * * * [A]n intellectual revolution is under way that will change the way we think about public policy just as the free market economists did in the 1980s. . . . Those who doubt that there is something going on in the world of ideas should get themselves a publisher’s catalogue. One month there is a book called Nudge, the next a book called Sway. A volume called Predictably Irrational follows another called Irrationality. Since the success of Malcolm Gladwell’s Tipping Point, books on tipping po... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1677465 Mon, 04 Aug 2008 04:01:09 +0100 1677465 http://www.medworm.com/index.php?rid=1616618&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F07%2F12%2Ffreedom-to-not-choose%2F In February, John Tierney wrote a great column in February for the New York Times about Dan Ariely’s new book, Predictably Irrational. We already posted about Ariely’s book last week (see here). In this post, we simply wanted to highlight Tierney’s excellent summary of some of Ariely’s experiments. * * * In a series of experiments, hundreds of students could not bear to let their options vanish . . . . * * * They played a computer game that paid real cash to look for money behind three doors on the screen. . . . After they opened a door by clicking on it, each subsequent click earned a little money, with the sum varying each time. As each player went through the 100 allotted clicks, he could switch rooms to search for higher payoffs, but each switch used up a clic... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1616618 Sat, 12 Jul 2008 20:00:32 +0100 1616618 http://www.medworm.com/index.php?rid=1606315&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.files.wordpress.com%2F2008%2F04%2Fabc-dan-ariely-interview.mp3 We presented participants with two portraits – Mike and John – and asked them to choose whom they’d rather date. For half the participants we distorted the picture of Mike and added it to the set, so they had John, Mike and an ugly version of Mike to choose from. For the other half of the students, we distorted John, so they had Mike, John and an ugly John. When the ugly version of Mike was presented, the attractive version of Mike became the most desirable date. And when the ugly version of John was presented, John’s attractive version became the most desirable. It is very hard for us to evaluate things in absolute terms. So, we evaluate products and people in relative terms, which makes us vulnerable to this kind of trap, called the asymmetric dominance effect. Spending p... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1606315 Fri, 11 Jul 2008 03:07:00 +0100 1606315 http://www.medworm.com/index.php?rid=1512394&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F06%2F12%2Ffour-failures-of-deliberating-groups-abstract%2F Cass Sunstein and Reid Hastie have posted their new paper, “Four Failures of Deliberating Groups” on SSRN. Here’s the abstract. * * * Many groups make their decisions through some process of deliberation, usually with the belief that deliberation will improve judgments and predictions. But deliberating groups often fail, in the sense that they make judgments that are false or that fail to take advantage of the information that their members have. There are four such failures. (1) Sometimes the predeliberation errors of group members are amplified, not merely propagated, as a result of deliberation. (2) Groups may fall victim to cascade effects, as the judgments of initial speakers or actors are followed by their successors, who do not disclose what they know. Nondisc... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1512394 Thu, 12 Jun 2008 17:27:06 +0100 1512394 http://www.medworm.com/index.php?rid=1485054&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F06%2F01%2Fteam-interested-decision-making%2F From Science Daily, here’s a brief research summary regarding how, even in individualistic cultures, team goals often trump individual goals. * * * People act in their own best interests, according to traditional views of how and why we make the decisions that we do. However, psychologists at the Universities of Leicester and Exeter have recently found evidence that this assumption is not necessarily true. In fact the research, funded by the Economic and Social Research Council, shows that most of us will act in the best interest of our team — often at our own expense. Psychologists carried out the first systematic tests of team reasoning theories by assessing two well known views of how people behave. Orthodox or classical game predicts that people will act for selfish reasons... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1485054 Mon, 02 Jun 2008 02:12:35 +0100 1485054 http://www.medworm.com/index.php?rid=1450464&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F05%2F17%2Femotional-reactions-to-law-economics-abstract%2F Peter Huang posted his latest manuscript, titled “Emotional Reactions to Law & Economics, Market Metaphors, & Rationality Rhetoric” (forthcoming in Theoretical Foundations of Law and Economics) on SSRN. Here’s the abstract. * * * This chapter makes three fundamental points about law and economics. First, although some people feel strong, negative emotional reactions to utilizing microeconomics to analyze non-business areas of law, others feel no such emotional reactions. This chapter advances the hypothesis that people who do not view the world exclusively through an economics lens are likely to experience negative feelings toward applying microeconomics to non-business law areas, while people who view the world primarily through an economics lens are unlikely to... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1450464 Sun, 18 May 2008 01:41:52 +0100 1450464 http://www.medworm.com/index.php?rid=1443299&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F05%2F14%2Fthe-endowment-effect-in-chimpanzees-abstract%2F Sarah F. Brosnan, Owen D. Jones, Susan P. Lambeth, Mary Catherine Mareno, Amanda S. Richardson, and Steven Schapiro, posted their article, “Endowment Effects in Chimpanzees” 17 Current Biology, 1704-1707 (October 9, 2007) on SSRN. Here’s the abstract. * * * Human behavior is not always consistent with standard rational choice predictions. The much-investigated variety of apparent deviations from rational choice predictions provides a promising arena for the merger of economics and biology. Although little is known about the extent to which other species also exhibit these seemingly irrational patterns of human decision-making and choice behavior, similarities across species would suggest a common evolutionary root to the phenomena. The present study investigated whether ... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1443299 Thu, 15 May 2008 02:42:29 +0100 1443299 http://www.medworm.com/index.php?rid=1401588&cid=t_147238_122_f&fid=36506&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FBrainSciencePodcastBlog%2F%7E3%2F278304014%2F Discussion Forum (Source: the Brain Science Podcast and Blog with Dr. Ginger Campbell) the Brain Science Podcast and Blog with Dr. Ginger Campbell blogs http://www.medworm.com/rss/comments.php?id=1401588 Sat, 26 Apr 2008 14:52:13 +0100 1401588 http://www.medworm.com/index.php?rid=1400771&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F04%2F26%2Fa-new-theory-of-the-endowment-effect-abstract%2F Owen Jones and Sarah Brosnan have posted their article, “Law, Biology, and Property: A New Theory of the Endowment Effect” 48 William & Mary Law Review (2008) on SSRN. We’ve included the abstract below. * * * Recent work at the intersection of law and behavioral biology has suggested numerous contexts in which legal thinking could benefit by integrating knowledge from behavioral biology. In one of those contexts, behavioral biology may help to provide theoretical foundation for, and potentially increased predictive power concerning, various psychological traits relevant to law. This Article describes an experiment that explores that context. The paradoxical psychological bias known as the endowment effect puzzles economists, skews market behavior, impedes effi... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1400771 Sat, 26 Apr 2008 04:01:55 +0100 1400771 http://www.medworm.com/index.php?rid=1341216&cid=t_147238_122_f&fid=36506&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FBrainSciencePodcastBlog%2F%7E3%2F261695396%2F Most of you know that I am a fan of the All in the Mind podcast from Australian radio. I want to recommend the two most recent episodes: The March 22 Episode is actually  hosted by Volkart Wildermuth, from Germany. He interviews several of the world’s leading primate researchers. You will learn some of the recent discoveries about primate intelligence and culture, and also hear an excellent discussion of what makes humans different. Go to the website not just to hear the show, but to get a transcript and to see the extensive links. The March 29 Episode is a fascinating interview with Dan Ariely from MIT who is the author the new bestseller Predictably Irrational: The Hidden Forces That Shape Our Decisions, which describes his experiments in what is called behavioral economics. His w... the Brain Science Podcast and Blog with Dr. Ginger Campbell blogs http://www.medworm.com/rss/comments.php?id=1341216 Tue, 01 Apr 2008 03:27:16 +0100 1341216 http://www.medworm.com/index.php?rid=1336921&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F03%2F29%2Fthe-situation-of-preferences-abstract%2F Dan Simon, Daniel C. Krawczyk, Airom Bleicher, and Keith J. Holyoak have posted their new paper, “The Transience of Constructed Preferences,” (forthcoming in the Journal of Behavioral Decision Making) on SSRN. The abstract is below. * * * A large body of research suggests that preferences are constructed rather than merely accessed in the course of making decisions. The current research examines the stability of constructed preferences over time. Preferences for various factors relevant to a job choice were measured prior to presentation of the job choice task, at the point of decision, and again following a delay. It was found that relative to baseline pre-decision levels, preferences shifted to provide stronger support for the emerging decision. Preference changes proved to b... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1336921 Sun, 30 Mar 2008 01:49:37 +0100 1336921 http://www.medworm.com/index.php?rid=1269698&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F03%2F01%2Fthe-situation-of-perceptions%2F In the most recent Sunday Boston Globe (Ideas section), Jonah Lehrer wrote a nice article — “Grape expectations: What wine can tell us about the nature of reality” — summarizing recent cognitive neuroscience research illustrating the power of expectations in shaping perceptions and experiences. * * * Scientists at CalTech and Stanford recently published the results of a peculiar wine tasting. They provided people with cabernet sauvignons at various price points, with bottles ranging from $5 to $90. Although the tasters were told that all the wines were different, the scientists were in fact presenting the same wines at different prices.The subjects consistently reported that the more expensive wines tasted better, even when they were actually identical to cheaper wi... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1269698 Sat, 01 Mar 2008 04:01:13 +0100 1269698 http://www.medworm.com/index.php?rid=1252907&cid=t_147238_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2008%2F02%2F24%2Fblinking-on-the-bench%2F Chris Guthrie, Jeff Rachlinski, & Andrew Wistrich have an interesting new paper, “Blinking on the Bench: How Judges Decide Cases.” Here is the abstract: How do judges judge? Do they apply law to facts in a mechanical and deliberative way, as the formalists suggest they do, or do they rely on hunches and gut feelings, as the realists maintain? Debate has raged for decades, but researchers have offered little hard evidence in support of either model. Relying on empirical studies of judicial reasoning and decision making, we propose an entirely new model of judging that provides a more accurate explanation of judicial behavior. Our model accounts for the tendency of the human brain to make automatic, snap judgments, which are surprisingly accurate, but which can also lead to e... The Situationist blogs http://www.medworm.com/rss/comments.php?id=1252907 Sun, 24 Feb 2008 17:49:52 +0100 1252907 http://www.medworm.com/index.php?rid=1063002&cid=t_147238_107_f&fid=35670&url=http%3A%2F%2Fanteriorcommissure.blogspot.com%2F2007%2F11%2Fsingle-female-antelope-seeks-submissive.html Another sexual reproduction theory bites the dust.According to behavioral ecologist Dr. Jakob Bro-Jørgensen, female topi (an African antelope) can become extreme aggressors when it comes to mating, a shift in status-quo reproductive theory in which males are relatively persistent and females are relatively resistent members of the mating duo.Every 1.5 months, a female topi is fertile and therefore becomes extremely sexually promiscuous, successfully mating with an average of four males with each male mounting her anywhere between 2-36 times (called intromissions). Females seek out and attempt to mate with males that have acquired the most territory in a breeding area - the mark of a studly topi - but will mate relatively indiscriminately if given the opportunity. And if there isn't an opp... The Anterior Commissure blogs http://www.medworm.com/rss/comments.php?id=1063002 Fri, 30 Nov 2007 14:17:00 +0100 1063002 http://www.medworm.com/index.php?rid=870700&cid=t_147238_107_f&fid=35670&url=http%3A%2F%2Fanteriorcommissure.blogspot.com%2F2007%2F09%2Fhug-hug-me-do.html Some intriguing research was just released in Animal Behaviour:Compared to most Old-World monkeys (e.g. chimps, gorillas), spider monkeys spend much less time grooming each other. But, researchers say, grooming is a desired activity - highly social events such as grooming increase the likelihood of infant survival amongst female baboons and may boost the release of the pleasurable opioid beta-endorphin. In fact, grooming has enough value that it can be exchanged for other biologically relevant opportunities (i.e. feeding, grooming, mating) in what is termed the "biological market theory."And, as it turns out, female spider monkeys want often access to infants. Many primates are "intensely interested in other females' infants" and will spend an amazing amount of time with infants, even inve... The Anterior Commissure blogs http://www.medworm.com/rss/comments.php?id=870700 Fri, 14 Sep 2007 12:12:00 +0100 870700