BUSINESS SCHOOLS RESPOND TO DEMAND FOR USE OF SOCIAL MEDIA Advertising has changed a bit since the early 1960s Today the New York Times / International Herald Tribune ran a piece on teaching social media marketing in business schools entitled Business Schools Respond to Demand for Use of Social Media. The courses of your Decision […]
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CHOICE ARCHITECTURE ON WHEELS Decision Science News was in a cab in Houston some years ago. The driver said that he did not like it when people paid by credit card, claiming that if the card turned out not to be good, it was his loss. DSN never really understood this. Perhaps in Houston they […]
DECISION MAKING OR SOCIAL PSYCHOLOGY? There are those who consider the field of Judgment and Decision Making to be much like the field of Social Psychology, and others who find them as similar as vodka and water. How can we, as the French say, préciser la différence? Decision Science News has taken it upon itself […]
A PEPPERY COMMITMENT DEVICE Decision Science News was having dinner with Shlomo Benartzi recently, not far from his beloved Four Seasons Hotel in New York. At the end of the meal, a chocolate souffle was ordered. Halfway through the souffle, Benartzi asked “would you like any more of this?” Decision Science News declined and watched […]
TALEB INTERVIEWS FROM BEFORE AND AFTER THE DOWNTURN Making predictions is risky business. If you make a claim like “Dow 30,000 by 2008“, it’s more than a little embarrassing when you’re wrong. (If you’re wondering, the Dow’s peak was just over 14,000). But making predictions is important. Science, for instance, suffers when theories are vague […]
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AS THE DECADE ENDS, U.S. STOCK MARKETS LOWER THAN WHERE THEY STARTED S&P 500 Date Adj Close 12/31/2009 1,115 12/31/1999 1,469 DOW JONES Date Adj Close 12/31/2009 10,428 12/31/1999 11,497 NASDAQ Date Adj Close 12/31/2009 2,269 12/31/1999 4,069 One can see from the above that the S&P 500 index is down 23% over the decade, […]
THE TECHNICAL DETAILS, TUTORIALS, WALK-THROUGHS A few posts back, we showed how classic decision making experiments are being replicated on Amazon’s insta-subject-pool otherwise know as Mechanical Turk (aka MT). After that, Steven Pinker, at the SJDM keynote, presented Mechanical-Turk-collected data on perceptions of whether the past or present is perceived as more violent. This week, […]
A WHOLE NEW WORLD OF EXPERIMENTS NOW POSSIBLE Gabriele Paolacci sends along the following announcement. Decision Science News is also a fan of Amazon’s Mechanical Turk (or mturk as we insiders call it), and it and its colleagues at Yahoo! Research are actively using with the evolving methodology. You are probably aware of the growing […]
DIFFERENT PEOPLE USE DIFFERENT HEURISTICS: START IDENTIFYING STRATEGIES Decision Science News does not like arguments that ‘people’, on average, do (or do not) use a certain decision making strategy. If half the people use the strategy, and half do not, on average it looks like everyone does a little bit, even when the average is […]
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LAND OF MYSTERIOUS REPETITION Decision Science News used to think of Bulgaria as a haven for cheap skiing, but has recently learned that it is the land of magical coincidences. On September 6th, the winning lBulgarian ottery numbers were 4, 15, 23, 24, 35 and 42 Amazing? Hardly. But on the very next play of […]
