Tag Archives: economics and psychology

Gerd Gigerenzer takes aim at Daniel Kahneman, Richard Thaler and Cass Sunstein for being uncritical and going too far. While not endorsing rational choice theory, he stresses that the truth lies between the extremes of rationality and irrationality and claims behavioral economics tends to over emphasize irrationality consequent on cognitive-effective bias. It's neither reason or all bias, either all or mostly, but a combination of rationality and irrationality.Statistical Modeling, Causal...

Managing brain waves and neural passageways. "The inventors, creators — it's me, it's Mark [Zuckerberg], it's Kevin Systrom on Instagram, it's all of these people — understood this consciously. And we did it anyway." Of course, this process based on new scientific understanding began long before the Internet and social media. It's at least as old as the rise of the PR, marketing and advertising industries, which took off around the time of the publication of Propaganda by Sigmund Freud's...