Discover and read the best of Twitter Threads about #behavioralEconomics
Most recents (18)
2/ Lucas (1986) praises classic market experiments by V Smith (
@Caltech
'56) and animal exp's by Kagel and Battalio. At the end Bob introduces a question about monetary economics: What is the equilibrium in an exchange economy where young sell goods to the old for fiat money?
@Caltech
'56) and animal exp's by Kagel and Battalio. At the end Bob introduces a question about monetary economics: What is the equilibrium in an exchange economy where young sell goods to the old for fiat money?
3/ the price is q_t in period t. Eq (8) specifies a stable price (q_{t+1}=q_t)=15/16). It can be arrived at by a sequence of adaptive expectations. But there are a continuum of equilibrium prices. Lucas wonders how to learn about what will happen and proposes *an experiment*... 
4/ Here is his explanation for why an experiment is appropriate. One of the best and most cogent explanations ever. It should be taught in every experimental econ course (we'll teach it in our 1st yr core next year)
Les 100 meilleurs #livres marketing de tous les temps. 📚
De la psychologie, copywriting, business, influence, story-telling, finances, au growth hacking, voici les livres à lire absolument pour toute personne intéressée à devenir meilleure en marketing. 🚀
🧵 MEGA THREAD ⤵️
De la psychologie, copywriting, business, influence, story-telling, finances, au growth hacking, voici les livres à lire absolument pour toute personne intéressée à devenir meilleure en marketing. 🚀
🧵 MEGA THREAD ⤵️
📚100. Influence : Science & Practice est une examination de la psychologie de la conformité (c'est-à-dire la découverte des facteurs qui poussent une personne à dire "oui" à la demande d'une autre personne).
#influence #psychology #marketing
#influence #psychology #marketing
📚99. Le best-seller du New York Times qui explique pourquoi certains produits et idées deviennent populaires.
#marketing #contentmarketing #newyorktimes #book #livre
#marketing #contentmarketing #newyorktimes #book #livre
Howard Marks en son yazdığı “memo”sunda makroekonomik tahmin yapmanın gerekliliğini sorguluyor.
Bir tahmin yapıyorsak bazı varsayımlara göre yapıyoruzdur. Yoksa atmasyon bir şey olur. Yapılan her varsayım ise bizi gerçeklikten uzaklaştırıyor.
Bir tahmin yapıyorsak bazı varsayımlara göre yapıyoruzdur. Yoksa atmasyon bir şey olur. Yapılan her varsayım ise bizi gerçeklikten uzaklaştırıyor.
Tahmin yapmak, normalde hayli karmaşık etkileşim içinde olan bir sürü veriye, gelişmeye aynı anda hakim olmayı gerektiriyor. Pozitif bir bilim olmayan ve insan davranışlarına oldukça duyarlı iktisatta ise doğru tahmin yapmak neredeyse imkansızlaşıyor.
Geleceği tahmin ederken geçmiş iyi bir rehber midir, yani her bir durum karşısında hep aynı şeyler mi olur (stationarity)? Pozitif bilimlerde bu geçerli olabilir. Ama iktisatta hep düşünmediğimiz bir şeyler mutlaka vardır ve her zaman beklenmedik bir şey olur.
Want to learn how the brain works, why humans value what we value, and how to persuade value based decisions?
Here’s your reading list:
Thinking Fast and Slow
Predictably Irrational
Nudge
Influence
Pre-suasion
Misbehaving
The Undoing Project
The Persuasion Code
/1
Here’s your reading list:
Thinking Fast and Slow
Predictably Irrational
Nudge
Influence
Pre-suasion
Misbehaving
The Undoing Project
The Persuasion Code
/1
Barking Up the Wrong Tree
Brainfluence
Alchemy
7 Secrets of Persuasion
Invisible Influence
What Your Customer Wants and…Can’t Tell You
Thinking In Bets
Friction
The Upside to Irrationality
Dollars and Sense
Payoff
Yes
Contagious
/2
Brainfluence
Alchemy
7 Secrets of Persuasion
Invisible Influence
What Your Customer Wants and…Can’t Tell You
Thinking In Bets
Friction
The Upside to Irrationality
Dollars and Sense
Payoff
Yes
Contagious
/2
This is a crash course in behavioral economics, basically. It helps readers identify how WE are persuaded as well as how to persuade.
This is intimately connected with what we value and why we make the value based decisions we do.
/3
This is intimately connected with what we value and why we make the value based decisions we do.
/3
If you are curious about how I started my Indiehacker journey 🗺️, its progression 🎢 and the most important lessons learned 📚, here's part one.
👉 How my very first mobile app sparked my interest in building internet businesses
Introducing CaseTools.app
1/20
👉 How my very first mobile app sparked my interest in building internet businesses
Introducing CaseTools.app
1/20
CaseTools is a mobile app that helps young professionals 👩💼 prepare for their upcoming management consulting job interviews 💼 at companies such as McKinsey, Boston Consulting Group or Bain.
It became so popular that it was enough to pay for my college room at some point.
2/20
It became so popular that it was enough to pay for my college room at some point.
2/20
🤔 Why did I build CaseTools?
Back at college in 2018, I was the head of Austria's largest student consultancy and had big ambitions of becoming a management consultant, helping companies with their business strategy and positioning. Wearing suits and flying every week.
3/20
Back at college in 2018, I was the head of Austria's largest student consultancy and had big ambitions of becoming a management consultant, helping companies with their business strategy and positioning. Wearing suits and flying every week.
3/20
So, der #Ladefrust bei Elektroautos kommt ja nun wirklich nicht nur, weil ich nie eine freie Ladesäule finde. Sondern auch weil, da einfach nix reinpasst in diesen Reiskocher!
Ist ja kein Platz mit diesen Monster-Akkus!
Na, wer hat sich das auch schon mal anhören müssen?
Und ...
Ist ja kein Platz mit diesen Monster-Akkus!
Na, wer hat sich das auch schon mal anhören müssen?
Und ...
...klar: Menschen kaufen sich Autos nicht für den #DurschnittsDienstag.
Sondern für das absolute #WorstCaseWochenende, wenn Tante Trude mit ihrem Kleintierzoo im Wintersturm ins Hochgebirge umziehen will.
Das ist einfach simple #BehavioralEconomics.
Sondern für das absolute #WorstCaseWochenende, wenn Tante Trude mit ihrem Kleintierzoo im Wintersturm ins Hochgebirge umziehen will.
Das ist einfach simple #BehavioralEconomics.
Und da geht es den Menschen wie den Leuten.
Also den Elektroautos wie den Verbrennern.
Aber die Frage bleibt natürlich schon:
Haben Elektroautos jetzt einen kleineren...
Also den Elektroautos wie den Verbrennern.
Aber die Frage bleibt natürlich schon:
Haben Elektroautos jetzt einen kleineren...
If you're building a #podcast, here are tips I've learned 🧵
Pls retweet here to share with the community.
1. What's your mission?
- Downloads
- Subscribers
- Category thought leadership
- Personal brand
- Money
- Learning
- Awards
What else? @scottygb @lorlyjane
Pls retweet here to share with the community.
1. What's your mission?
- Downloads
- Subscribers
- Category thought leadership
- Personal brand
- Money
- Learning
- Awards
What else? @scottygb @lorlyjane
2. Write a business plan (like for any other venture)
- What problem are you solving?
- Target listener
- Revenue
- Proposition
- Mktg
- P/L
- Competition (target tangential themes)
- Relevant advertisers
What else? @podbible @Podnews @rethinkaudio
- What problem are you solving?
- Target listener
- Revenue
- Proposition
- Mktg
- P/L
- Competition (target tangential themes)
- Relevant advertisers
What else? @podbible @Podnews @rethinkaudio
3. Review/refine your pod
- Calls to action
- Pushing ratings & reviews
- Audience interaction: letters/ask questions
- Downloads vs. retention rate
- Change key descriptor words @AppleMusic @OvercastFM etc
What else?
- Calls to action
- Pushing ratings & reviews
- Audience interaction: letters/ask questions
- Downloads vs. retention rate
- Change key descriptor words @AppleMusic @OvercastFM etc
What else?
Daily Bookmarks to GAVNet 11/30/2021 greeneracresvaluenetwork.wordpress.com/2021/11/30/dai…
Manatee death rate spikes to highest number in nearly 50 years
fox13news.com/news/florida-r…
#manatees #DeathRate
fox13news.com/news/florida-r…
#manatees #DeathRate
Brilliant GIF shows how Humans, Birds and Insects Breathe
zmescience.com/science/biolog…
#GraphicVisualization #breathing #animals
zmescience.com/science/biolog…
#GraphicVisualization #breathing #animals
Came across an interview of @sidd1307 conducted by @varinder_bansal.
The one hour was packed with learning both related to #stockmarkets and daily life.
Below is the thread about key learning which i found important.
Like or retweet if you found it worthwhile.
The one hour was packed with learning both related to #stockmarkets and daily life.
Below is the thread about key learning which i found important.
Like or retweet if you found it worthwhile.
Intro of Siddharth bhaiya
(a) he has completed CA.
(b) Entered into the stock market in early 2000's as analyst covering FINANCIALS
(c) Currently running Aequitas Investment Consultancy.
(1/n)
(a) he has completed CA.
(b) Entered into the stock market in early 2000's as analyst covering FINANCIALS
(c) Currently running Aequitas Investment Consultancy.
(1/n)
Importance of stock market
Human like any other animals, performs 4 core activities in his lifetime;
(a) Searching for food
(b) Protecting themselves from enemy
(c) Occupy territory
(d) Sex/mating
In modern world, all these activities are dependent on money.
(2/n)
Human like any other animals, performs 4 core activities in his lifetime;
(a) Searching for food
(b) Protecting themselves from enemy
(c) Occupy territory
(d) Sex/mating
In modern world, all these activities are dependent on money.
(2/n)
Teoría de la mente #BehavioralEconomics
- Eso, ¿en qué consiste?
- En que te das cuenta de que los demás tienen ideas en la cabeza, igual que tú, y estableces hipótesis respecto de esas ideas. Esto es fundamental, porque constituye la base de la manipulación y del engaño.
- Eso, ¿en qué consiste?
- En que te das cuenta de que los demás tienen ideas en la cabeza, igual que tú, y estableces hipótesis respecto de esas ideas. Esto es fundamental, porque constituye la base de la manipulación y del engaño.
Los animales no pueden mentir porque carecen de una teoría de la mente. Cuando tienes una teoría de la mente te pasas la vida imaginando lo que piensa el otro. Si no te interesa lo que crees que piensa, intentas meterle una idea distinta.
Keynes fue el primero en incorporar este concepto en economía (1936) con su metáfora del concurso de belleza, Las personas deciden sus inversiones basándose en observaciones de lo que otros están haciendo, o pensando hacer, con su dinero. ft.com/content/614952…
#longread: "Why Do Individuals Exhibit Investment Biases?": fin.ntu.edu.tw/~conference/co… Preparando mi sesión s/ #EconomíaConductual próxima @IEF_org Summer School patrocinada por @EDM_AM #MustRead
Al margen trabajos Ariely/Kahneman, mejor fuente para aproximar la psicología humana es leer experiencias de practicioners; esto de Munger sigue siendo miel (y mucho más sólido que la obra académica de Thaler, bastante flojito): fsmisc.s3.ca-central-1.amazonaws.com/great-talks/Th… #HumanMissjudment
Barber & Odean, "Depression babies: Do Macro Experiencies affect risk taking? (spoiler, yes, of course): nber.org/papers/w14813 NBER.
Para un artículo @efpa_es, me han pedido algunas notas bibliográficas (con su correspondiente explicación) principales contribuciones campo psicología mercados o behavioral economics. El primero: Confusión de confusiones, J De La Vega (1688).
El temprano manual de De La Vega contiene inumerables perlas de sabiduría bursátil incluídas atentas observaciones sobre "bulls"/"bears", overconfidence, herd behavior, o la ya conocida aversión a la pérdida. Libro fundamental para cualquier inversor.
Un segundo libro es Memoirs of Extraordinary Popular Delusions (1841), de MacKay, quizás el mejor manual para entender como se extienden los pánicos y que es el comportamiento de manada. Contiene la mejor descripción burbuja Compañía de los Mares del Sur. #psicology #bubbles
#ShelterInPlace #NonFiction #BookRecommendations !
Sharing takeaways and recs from recent reading blocks.
Who would I recommend this to?
👑 Everyone
🏆 Any interest in topic
🎖️ You often read on this topic
🍅 Nah
Michelin, not Amazon, style ratings = any non-🍅 is a good book.
Sharing takeaways and recs from recent reading blocks.
Who would I recommend this to?
👑 Everyone
🏆 Any interest in topic
🎖️ You often read on this topic
🍅 Nah
Michelin, not Amazon, style ratings = any non-🍅 is a good book.
🏆
Keynes Hayek by @NWapshott
Topic: 🌍💰
Layperson's history of JM Keynes' inventing #macroeconomics, and opposition by ppl who fear inflation > unemployment.
• #Stimulus packages are <100y old
• They seem like magic, but aren't
• Fiscal policy goes beyond red vs blue
Keynes Hayek by @NWapshott
Topic: 🌍💰
Layperson's history of JM Keynes' inventing #macroeconomics, and opposition by ppl who fear inflation > unemployment.
• #Stimulus packages are <100y old
• They seem like magic, but aren't
• Fiscal policy goes beyond red vs blue
🎖️
The Snowball by @aliceschroeder
Topic 💰📈
Great bio, but #Buffett's life is so consistent most ppl won't need 700 pages of it.
• "Take a simple idea, and take it very seriously"
• Learned early he loves making money, never stopped
• Wife surely made him a better human
The Snowball by @aliceschroeder
Topic 💰📈
Great bio, but #Buffett's life is so consistent most ppl won't need 700 pages of it.
• "Take a simple idea, and take it very seriously"
• Learned early he loves making money, never stopped
• Wife surely made him a better human
Watching @UKParliament statement from @MattHancock.
Very glad to see collegiate approach from @JonAshworth & @MattHancock and great to see thanks to the Paymaster General, @NazShahBfd, @wesstreeting, @SayeedaWarsi, @BoardofDeputies the concerns on forced cremation have been met.
Very glad to see collegiate approach from @JonAshworth & @MattHancock and great to see thanks to the Paymaster General, @NazShahBfd, @wesstreeting, @SayeedaWarsi, @BoardofDeputies the concerns on forced cremation have been met.
I'm concerned MPs who due to the outdated voting system are putting their health at risk as they need to scrutinise the #CoronavirusBillUK but should have been able to scrutinise this virtually. /1
I'm worried for all those there and think its mad that @MattHancock who looks ill is having to deal with people like @SteveBakerHW and @CarolineLucas who are being so rude to @MattHancock and the other MPs. /2
#CoronavirusBillUK
#CoronavirusBillUK
A short thread on an updated WP published in @nberpubs: Testing the effectiveness of consumer financial disclosure. With @stefanhunt, Christopher Palmer (@MITSloan) and Redis Zaliuaskas. #EconTwitter #BehavioralEconomics #RCT (1/n)
Savings accounts are widespread (93% of UK pop.) and important (deposits total ~£700bn). Instant access savings accounts are the most common form of saving in the UK and are relatively simple - most people say the interest rate is the most important feature (2/n)
Accounts typically provide a high introductory interest rate in the 1st year (“front book”) but lower rates in subsequent years (“back book”). Despite this and despite being easy to switch (15 minutes on average), a 3rd of deposits sit in accounts more than 5 years old (3/n)
Hey @pauldadams let's thread this! A summary of four working papers on credit cards in N tweets. Especially for those interested in #HouseholdFinance #BehavioralEconomics #debt #RCTs 1/n
1 in 4 UK credit card payments are at or close to the minimum payment (US similar). Minimum payment information on credit cards appears to act as an anchor making consumers more likely to pay at or close to the minimum. How can we help consumers to pay more? 2/n
PAPER 1 - Increasing credit card payments using choice architecture: The case of anchors and prompts... 3/n
Finished reading "Thinking, Fast and Slow". It's the Maxwell equations of human behavior. This book should be a prereq for everything
Continuing down the #behavioraleconomics rabbit hole,@danariely "Predictably Irrational" makes so much sense and terrifying at the same time
@danariely @danariely's "The Honest Truth About Dishonesty" is a great book that proves Dr. House's claim - everybody lies #behavioraleconomics
