What can economists learn from linguists? Behavioral economist Keith Chen introduces a fascinating pattern from his research: that languages without a concept for the future -- "It rain tomorrow," instead of "It will rain tomorrow" -- correlate strongly with high savings rates.
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Rather than try to prevent the (inevitable) shocks of life, we may do better to take advantage of them when they arise, argues Nassim Nicholas Taleb, one of the strongest critics of economic policy before the financial collapse of 2007. 
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Use of population-genetic data to predict economic success sparks war of words.
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Increased GDP per capita doesn’t deliver the increased happiness or welfare if promises
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Paul Zak is a neuroeconomist, studying how a chemical called oxytocin elicits trust, empathy and better workplace cooperation.
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From
vimeo
Short animated film about the takeover of nature by financial markets and the real alternatives coming up from the civil society. Via pdjmoo
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Financial loss can lead to irrational behavior. Now, research by Weizmann Institute scientists reveals that the effects of loss go even deeper: Loss can compromise our early perception and interfere with our grasp of the true situation. The findings, which recently appeared in the Journal of Neuroscience, may also have implications for our understanding of the neurological mechanisms underlying post-traumatic stress disorder.
Cindy Tam's comment,
June 13, 2012 2:54 PM
Funny, you see this behavior sometimes while playing poker. http://www.ehow.com/about_4673664_does-full-tilt-mean-poker.html
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From
phys
As the U.S. presidential election campaigns heat up, the economic debate is dominated by bailouts, austerity and, inevitably, taxation. Now a new study published in Symbolic Interaction asks why tax is such an important issue to voters and explores the moral ideas which underpin their views.
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Apparently, sadness has the effect of bringing to mind "take the money and run" rationalizations, rapidly and elaborately, which can lead to lousy judgments and real financial losses.
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This is the first evidence that sadness triggers an unconscious desire to reap rewards as soon as possible—even when this urgency comes at a very real cost, in dollars and cents. But the implications go far beyond personal financial dealings. Irrational impatience leads to widespread social problems, like massive credit card debt and epidemic overeating. Indeed, people make many of the most consequential decisions of their lives in an unhappy “need it now” state-of-mind—a psychological fact that future policy interventions might take into account.
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From
phys
In a new study, a team of physicists has used concepts from statistical physics to identify some characteristic behaviors of pre-bankrupt stocks that differ significantly from stocks that don't become bankrupt. The approach may eventually help investors forecast stock bankruptcies weeks or months in advance.
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From
phys
Retail investors' are not as unsophisticated as many think: they can actually predict future stock returns.
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From
phys
Victor Yakovenko is an expert in statistical physics and studies how the flow of money and the distribution of incomes in American society resemble the flow of energy between molecules in a gas. Articles about MATHEMATICS: http://www.scoop.it/t/science-news?tag=mathematics
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He may have gained world-wide fame as a victorious army commander, but Alexander the Great was also a very competent expert in finances.
Sakis Koukouvis's insight:
Alexander, the... Greconomist!
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The article, based on a survey of members of the American Economic Association, found that more female than male economists favored policies that lead to a redistribution of income.
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Peter Lucas, Joe Ballay, and Mickey McManus are the authors of "Trillions", a new book about the future of the global economy. "Trillions" argues that we can't just design devices that help us to live better using data; rather, we have to design an entire living environment where those devices communicate with each other and with us. Only by building this interoperable network of humans and computers will we finally be able to exploit the massive potential of Big Data, and of ourselves.
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Featuring: Mike Masnick, TechDirt http://www.techdirt.com Any mention of products or services by video personalities does not imply any partnership or other ... Via jean lievens
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Religion is often thought of as psychological defense against bad behavior, but researchers have recently found that the effect of religion on pro-social behaviors may actually be driven by the belief in hell and supernatural punishment rather than faith in heaven and spiritual benevolence.
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From
phys
Swedish consumers are increasingly buying fair trade, vegetarian and ecological products, but is it really making the world a better place?
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From
vimeo
In his new book, The Moral Molecule: The Source of Love and Prosperity, neuroeconomist Paul J. Zak discusses his research on oxytocin, what he calls the "moral molecule." For the past 10 years, Zak has been conducting the same kind of trust games that are common in experimental economics, but with a twist. Before and after the trust games, Zak has been taking blood samples with the goal of gaining a better understanding of how and why people trust others. More on OXYTOCIN: http://www.scoop.it/t/science-news?q=oxytocin
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From the year 2000 to 2010 the number of manufacturing jobs in America fell by about a third. The rise of outsourcing and offshoring and the growth of sophisticated supply chains has enabled companies the world over to use China, India and other lower-wage countries as workshops. Now, the global financial crisis has people thinking it is time their countries returned to making stuff in order to create jobs and prevent more manufacturing skills from being lost. These factors, and technologies like robotics, 3D printing and artificial intelligence could help bring about a Third Industrial Revolution. Via Szabolcs Kósa
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Looking to the Future of A New Kind of Science XconomyNKS will also no doubt be important in figuring out how to set up synthetic biological organisms. What would be the most spectacular success for NKS models? Perhaps models that lead to an understanding of aging, or cancer. Perhaps more accurate models for social or economic processes. Or perhaps a final fundamental theory of physics.
More on... SYNTHETIC BIOLOGY: http://www.scoop.it/t/science-news?tag=synthetic%20biology Via Gerd Moe-Behrens
Gerd Moe-Behrens's comment,
May 17, 2012 6:49 PM
I was especially curious about this remark "NKS will also no doubt be important in figuring out how to set up synthetic biological organisms."
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Biochemists have long imagined that autocatalytic sets can explain the origin of life. Could it be that the same idea--the general theory of autocatalytic sets--can help explain the origin of life, the nature of emergence and provide a mathematical foundation for organisation in economics?
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It's a message no one wants to hear: to slow down global warming, we'll either have to put the brakes on economic growth or transform the way the world's economies work.
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A wide variety of technological change is ushering in a third industrial revolution which will change society in ways as equally momentous as England's textile mills and Ford's production line. 3D printers will change the scale of manufacturing, permit individual inventors to innovate with the efficacy of a multinational company and open new economies in far-flung communities. Articles about TECHNOLOGY: http://www.scoop.it/t/science-news?tag=technology
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Language and savings? Interesting investigation.