Tag: behaviouralscience
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The Modular mind
Judith Rich Harris explores the limitations of B.F. Skinner’s reinforcement theory and introduces the modular theory of the human mind. This theory suggests that the mind is composed of specialized modules that process information independently, explaining phenomena such as brain injuries and contradictory attitudes in inter-group conflicts.
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The Truth about Relativity
In “Predictably Irrational” by Dan Ariely, the concept of relativity in decision-making is explored. People tend to compare options rather than assess intrinsic value, leading to irrational choices. This behavior is evident in examples such as subscription packages, menu pricing, and CEO salaries. Understanding relativity can help in decision-making, but it can also lead to…
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Nudge by Thaler & Sunstein
The book excerpt delves into the field of Behavioral Science, exploring how small changes in context can influence decision-making for better or worse. It discusses biases, heuristics, and self-control issues, and highlights the impact of social influences. The concept of choice architecture is introduced, which aims to aid decision-making through nudges and improved understanding of…
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Immeasurably Important
Robert McNamara’s management strategy, rooted in statistical analysis, backfired during the Vietnam War, revealing the immeasurable importance of factors like the feelings of the Vietnamese people. Similarly, Lehman Brothers’ downfall highlighted the difficulty of quantifying trust and support, emphasizing the blend of art and science in business and investing. Balancing these conflicting skill sets is…
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The Dark Matter Of The Mind
Joel Gold, a psychiatrist and Clinical Associate Professor of Psychiatry at NYU School of Medicine, discusses the human paradox of desiring one thing while acting in a contradictory manner. He explores Freud’s concept of the unconscious mind, proposing that it governs our irrational behavior, much like dark matter influences the universe. Our hidden motivations and…