NEURAL DIFFERENTIATION OF EXPECTED REWARD AND RISK Neurofinance. Yes, everybody is talking about it, but that doesn’t make it any less interesting. Same for neuroeconomics. This work by Kerstin Preuschoff, Peter Bossaerts, and Steven Quartz looks for the neural underpinnings of the two pillars of mid 20th century financial decision theory: risk and return. ABSTRACT […]
NEURAL REPRESENTATIONS OF EXPECTED UTILITY Those in the NY metro area may wish to catch a Center for the Decision Sciences talk Thursday, November 9th, 2006 from 5:15pm-6:45pm, at Columbia University’s Warren Hall Room 311 at 115th & Amsterdam in New York City. The speaker is friend of DSN and CDS Jason Zweig and he’ll […]
IMPROVING DECISION MAKING BY NOT MEETING FACE-TO-FACE Scott Armstrong of Wharton has recently polled the mailing lists of decision experts looking for evidence that face-to-face meetings lead to more accurate forecasts and better decisions than alternatives such as virtual teams or prediction markets. He found none. Evidence-based Armstrong comes down on the side of the […]
CAN RECOGNITION HAPPEN WITHOUT RECALL? An important question to those studying neuroeconomics, as well as those studying heuristics such as the recognition heuristic is whether recognition is just a side-effect of recall, or whether recognition is a separate process. In consumer behavior, we wonder if the brain changes patterns of activation in the presence of […]
FIND THE WONDER IN A NUMBER The story goes that British mathematician G. H. Hardy was visiting the great Indian mathematician Srinivasa Ramanujan in the hospital. According to Hardy: I had ridden in taxi cab number 1729 and remarked that the number seemed to me rather a dull one, and that I hoped it was […]
ESCALATION One time DSN host and all around smart person Dan Gilbert has a typically well-written and insightful piece in the New York Times op-ed section:He who cast the first stone probably didn’t. It’s a topic that doesn’t get much play in the Judgment and Decision Making literature, which is strange because retaliation is a […]
DECISION SCIENCE NEWS MEME HITS WSJ, SLASHDOT, AND DIGG DSN reported just two weeks ago that the habit of Netflix procrastination–recently put forth by two DSN writers in Harvard Business Review–found its way into a Newsweek blog. This week, we report that the same idea has now made the Wall Street Journal Online and picked […]
JUDGMENT AND DECISION MAKING History is made as an entirely online (and for the time being free) journal titled Judgment and Decision Making launches its Volume 1, Number 1. Things seem to be off to a good start, with a solid editorial board and a first issue featuring some heavy hitters. Decision Science News, which […]
CATCHY NAME GIVEN TO NETFLIX GUILT In July 2006, DSN writers Dan Goldstein and Dominique Goldstein described in a Harvard Business Review article titled “Profiting from the Long Tail” a behavioral phenomenon in which Netflix customers let highbrow movies sit around unwatched while lowbrow films get watched and returned right away. They use as examples […]
CENTER FOR THE DECISION SCIENCE REBRANDS Former Decision Science News home The Center for The Decision Sciences at Columbia University launches its new clean look and feel and a tidier URL: decisionsciences.columbia.edu. Stop by and have a click. While there, listen to these nice audio interviews with Elke Weber and other decision researchers on the […]
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