When Richard Thaler wrote about his journey in establishing the field of Behavioural Economics in "Misbehaving", he mentioned about how nudging was brought to the UK. In 2008 just after "Nudge" was published in the US, Thaler was invited to share his work with some Members of Parliament (MPs) from the UK Conservative Party (aka … Continue reading Book Review: Inside the Nudge Unit
In my previous book review, I shared about The Undoing Project by Michael Lewis, which is a biography of two prominent psychologists, Daniel Kahneman and Amos Tversky, and the unique friendship that they shared. Interestingly, the book also introduced how Richard Thaler, coauthor of bestselling book Nudge and the 2017 recipient of the Nobel Memorial … Continue reading Book Review: Misbehaving
After a 2-month hiatus, I'm back to blogging! But with many other things on my plate, I decided to keep it simple, and do some short reviews of books that I have read recently. We will start with a series of books on decision making psychology and behavioural economics (the type that I love), in … Continue reading Book Review: The Undoing Project
In the previous post on Fake News & Cognitive Biases, we discussed about how people are most susceptible to misinformation when it is riding on a trending topic or during periods of chaos. But why are people even susceptible to misinformation in the first place? Has it got anything to do with intelligence? In the … Continue reading Fake News & Cognitive Biases 3: Why Are People Susceptible To Misinformation?
In the previous post on Fake News & Cognitive Biases, we talked about how people are most susceptible to misinformation that contains some truth in it. But on top of that, there are also other factors that can increase people's susceptibility to misinformation. Time is one of them. The time at which a piece of … Continue reading Fake News & Cognitive Biases 2: When Are People Most Susceptible To Misinformation?
Whenever we talk about fake news, what most people have in mind is information that is undeniably false. Unfortunately, the reality isn't quite that simple. News that are outright fake are easy to detect and debunk, but most misinformation that are difficult to dispel often contain some truth in them, making it hard for artificial … Continue reading Fake News & Cognitive Biases 1: What Types of Misinformation Are People Susceptible To?
In this series on Original Research, I will be sharing about my findings from some of the mini-projects that I have carried out on my own. Fast-and-frugal trees (FFTs) are a specific type of classification decision tree with sequentially ordered cues, where every cue has two branches and one branch is an exit point (Martignon … Continue reading Original Research: Is Using Fast-and-Frugal Trees Better Than Machine-Learning Trees?
In this series on Original Research, I will be sharing about my findings from some of the mini-projects that I have carried out on my own. The anchoring effect is a systematic cognitive bias committed by individuals, when they rely too heavily on an initial piece of information for making a subsequent judgment. This is … Continue reading Original Research: The Anchoring Effect in A Range of Plausible Anchors
First of all, pardon me for the terrible pun in the title. In my previous posts (Social Heuristics and Advice-Taking), I shared about some of the popular topics in judgment and decision-making (JDM) research, explaining some of the heuristics and biases in human decision-making. Ever since psychological experiments started showing that human participants did not … Continue reading Thinking, The Past and Where-to-Go: The History and Future of Judgment & Decision-Making Research
In the previous post on Machine Learning vs Human Learning, I briefly mentioned that the heuristics used by humans makes our learning different from machines. Babies are able to figure out how physical and social interactions work in their environments using a package of intuitive physics and intuitive psychology that they are born with. Building … Continue reading Social Heuristics: The Pros and Cons of Gut Feelings