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Berlin in July 1945 - Probably the best restored film material you'll watch from that time! Ok this is Funny Walking Through 1980s Los Angeles: The City That Reinvented Cool THE ZOMBIES OF AMERICA THE OLDEST PHOTOS OF NEW YORK YOU'VE NEVER SEEN John Rich – Calling Out P. Diddy, TVA Scandal, and Joel Osteen | SRS #232 Capablanca Teaches Us The ONLY Chess Opening You'll Ever Need "How Bruce Springsteen Fooled America" How ancient Rome was excavated in Italy in the 1920s. Unique rare videos and photos. Reagan JOKE On The Homeless The Deleted Wisdom (1776 Report) Sicko Transfaggots video The Englund Gambit Checkmate 20 Minutes Of Black DC Residents Supporting Trump's Federal Takeover! 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"This Is Not What Authoritarianism Looks Like" America Erupts… ICE Raids Takeover The Streets AC/DC- Riff Raff + Go Down [VH1 Uncut, July 5, 1996] Why is Peter Schiff calling Bitcoin a ‘giant cult’ and how does this impact market sentiment? Esso Your Butt Buddy Horseshit jacks off to that shit "The Addled Activist Mind" "Don’t Stop with Harvard" "Does the Biden Cover-Up Have Two Layers?" "Pete Rose, 'Shoeless' Joe Reinstated by MLB, Eligible for HOF" "'Major Breakthrough': Here Are the Details on the China Trade Deal" Freepers Still Love war Parody ... Jump / Trump --- van Halen jump "The Democrat Meltdown Continues" "Yes, We Need Deportations Without Due Process" "Trump's Tariff Play Smart, Strategic, Working" "Leftists Make Desperate Attempt to Discredit Photo of Abrego Garcia's MS-13 Tattoos. Here Are Receipts" "Trump Administration Freezes $2 Billion After Harvard Refuses to Meet Demands"on After Harvard Refuses to Meet Demands "Doctors Committing Insurance Fraud to Conceal Trans Procedures, Texas Children’s Whistleblower Testifies" "Left Using '8647' Symbol for Violence Against Trump, Musk" Status: Not Logged In; Sign In International News See other International News Articles Title: Mcgowanjm Wire 2012 Source: [None] URL Source: [None] Published: Feb 26, 2012 Author: Various Post Date: 2012-02-26 09:15:13 by A K A Stone Keywords: None Views: 1461486 Comments: 2390 Mcgowinjm Wire Service. Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 821. #819. To: A K A Stone (#0) people tend to overweight small probability events. So, what is behavioural economics? Well, behavioural economics recognises the limits of human rationality, with ‘rationality’ being defined by the mainstream economic sense of the word, and comprises of a number of observations appertaining to human decision making that do not sit well with the neoclassical orthodoxy (Dolan et al. 2010). These include: the observation that losses loom substantially larger than gains, a phenomenon known as loss aversion; (ii) that reference points matter, such that people often care more about what they gain or lose around what they already have, rather than what they end up with; (iii) that people tend to overweight small probabilities; (iv) that people allocate their money to discrete bundles, so that the value that they attach to a particular amount of money will be contextual; (v) the observation of motivational crowding, such that offering money to people to do something has been shown often to ‘crowd-out’ their intrinsic, altruistic motivation to do that very thing; and (vi) ‘hyperbolic discounting’, which is the observation that people tend to place an enormous weight on the ‘immediate’ compared to the future, living for today at the expense of tomorrow. blogs.lse.ac.uk/healthand...avioural-economic-policy/ mcgowanjm  posted on  2012-05-14   7:27:41 ET  Reply   Untrace   Trace   Private Reply   #820. To: All (#819) In addition to the above stated observations, individuals often seemingly adopt a number of rules of thumb (or ‘heuristics’) when reaching their decisions, and apparently ‘satisfice’ rather than ‘optimise’, which goes against the grain of mainstream economics. A far from exhaustive list of these rules of thumb include: (a) the availability heuristic, in which people tend to assess the probability of an event by the ease with which similar instances can be brought to mind (e.g. many people erroneously think that the annual death rate from shark attacks is greater than that caused by falling coconuts); (b) the anchoring heuristic, in which individuals often unconsciously focus upon, and can be manipulated by, entirely irrelevant cues when making decisions, and (c) the overconfidence bias (e.g. most people think their driving ability is better than average), which has obvious implications for choices in financial markets, and elsewhere. Behavioural economists have thus uncovered a library of systematic preference patterns and heuristics that cannot be explained by standard economic theory. Interestingly, although perhaps for many, on reflection, unsurprisingly, several of the observations and rules of thumb (e.g. the importance of reference points, availability, anchoring) appear to suggest that humans are influenced very much by prominent, or ‘salient’, attributes in choice options – once their attention is focussed (sic) upon a particular feature of a task, they tend to overlook somewhat other potentially important information (for an entertaining example of this phenomenon, see selective attention test). www.youtube.com/watch?v=vJG698U2Mvo&feature=player_ mcgowanjm  posted on  2012-05-14   7:33:37 ET  Reply   Untrace   Trace   Private Reply   #821. To: All (#820) When the world pushes you to your knees, your are in the perfect position to pray. ... Ali ibn abi Talib (radiAllah anhu) Which is where Jamie Dimon should be right about now....;} Now here's Dimon/JPM's muse from 2008, explaining why The Black Swan: Quotes & Warnings that the Imbeciles Chose to Ignore is/was worth ignoring. I'm wondering if Jamie spent some time with Posted by Eric Falkenstein at 8:31 PM Sunday, December 07, 2008 Now THAT's an amazing date to be pontificating on how Behavioral Economics/Power Laws/Central Limit Theorums/ and the risk of Untold exposure to Non Linear Heavy Tail Risk is TOTALLY out of fashion. As bush43 and a traitorous Congress REWARD WALL ST BANKSTERS for bringing the SYSTEM to its KNEES. When the world pushes you to your knees, your are in the perfect position to pray. ... Ali ibn abi Talib (radiAllah anhu) But INSTEAD of praying, these BANKSTERS get to run the ship into ANOTHER iceberg in order to speed the sinking.....LMFAO...8D mcgowanjm  posted on  2012-05-14   7:49:17 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 821. #822. To: All (#821) Taleb Blames VAR, Merton, Scholes for Crimes Taleb was/is EXACTLY correct and "I'm wondering if Jamie spent some time with Posted by Eric Falkenstein at 8:31 PM Sunday, December 07, 2008" are EXACTLY wrong. falkenblog.blogspot.com/2...r-merton-scholes-for.html Minus Chaos Theory or even a blind hog can pick up an acorn every now & then EXCEPTION...;} mcgowanjm  posted on  2012-05-14 07:54:40 ET  Reply   Untrace   Trace   Private Reply   End Trace Mode for Comment # 821. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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