All posts tagged: behavioural economics

Somethin’s brewin’

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decision-making / psychology

There is a very interesting debate going on for some time already about a psychological effect called “loss aversion” [1]. This effect, and many other similar psychological effects describing the peculiarities of human decision making, underpins the field of behavioral economics and behavioral finance. This effect has been called a fallacy. The popular idea that avoiding losses is a bigger motivator than achieving gains is not supported by the evidence. To get up to speed: […]

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There are fascinating and scary consequences of the application of AI in human decision making. Some of the pitfalls should be carefully addressed. My recent working paper on the application of machine learning in behavioral economics to prescribe personalized interventions (nudging) is now on arXiv. I’d be grateful for any comments or suggestions you might have.