The Mind of the Market: How Biology and Psychology Shape Our Economic Lives


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Natural Selection: A Primer

In his later years, Fahrenberg also published a number of articles on the history of psychology as a scientific discipline, the philosophy of science, and the conceptual interactions between psychology and philosophy. Gardner was born in Scranton, Pennsylvania, in After a stint at the London School of Economics, he returned to Harvard, where he obtained his PhD in developmental psychology in , working under the supervision of famed developmental psychologist Jerome Bruner and philosopher Nelson Goodman.

He is currently the John H. Gardner is a developmental psychologist who has primarily focused on child development and the psychology of education. He is without a doubt best known for his theory of multiple intelligences —-the highly influential idea that the sort of intelligence measured by standardized IQ tests is only one among a variety of types of intelligence deployed by human beings in their interactions with the world around them especially the social world.

A number of observers have pointed out that there is very little empirical support for the theory. It must be said, too, that while many educators pay lip service to the theory, they have been slow putting it into practice in an everyday classroom setting. In later years, Gardner began exploring the implications of the theory of multiple intelligences for other areas, such as business school training.

MSc Psychology of Economic Life

Gardner has close to peer-reviewed journal articles and book chapters to his credit, not to mention several hundred op-ed pieces, essays, blog posts, and other articles aimed at a popular audience. He is also the author-, co-author, or editor of some 50 books. Among the most widely known and celebrated of living psychologists, he has won far too many awards, prizes, grants, fellowships, and honorary degrees to mention here. Gergen was born in Rochester, New York, in The idea behind social constructivism is that for human beings reality is neither given by the physical world nor conjured up by the individual mind, but rather constructed collectively by a given society or culture.

Moreover, he rejects the ideal of rationality usually associated with the social sciences, pointing out that such ideals themselves derive from particular historically and culturally bound structures. Gergen has published more than peer-reviewed journal articles and book chapters, as well as popular articles, op-eds pieces, and the like. He is also the author, co-author, or editor of almost 40 books. He has received numerous honorary degrees and has occupied visiting professorships at a multitude of universities all around the world. Gilbert was born in Gilbert works at the intersection of social psychology and cognitive psychology, with a focus on the way in which cognitive biases regarding the projected impact of individual choices on happiness affective forecasting may have wide-ranging societal and political implications.

Simply put, affective forecasting is the calculation we all make all the time, consciously or subconsciously, when faced with any decision—-generally speaking, we choose the option or the course of action that we believe will lead to the greatest increase in our overall happiness. The problem is that we are not very good at affective forecasting, which is beset by the kind of cognitive fallacies and illusions studied by several other psychologists on this list Dan Ariely, Daniel Kahneman. For example, most subjects exaggerate the satisfaction they believe they will derive from possessing objects in comparison with having experiences vacations, entertainment and cultivating social ties with family and friends.

He therefore urges us to redirect our energies towards ordinary, everyday experiences with family and friends, if we would be happy. It was there that she worked closely with developmental psychologists Erik Erikson and Lawrence Kohlberg. Gilligan felt that girls and women attain moral maturity by a different path; more importantly, she argued that moral decision-making by women in general takes place in a different voice than that by men. In developing her ideas, she came to characterize male morality as primarily rule-based and focused on the individual as the primary bearer of rights and duties and as the locus of judgments of moral desert; whereas women, she held, reason morally from a care perspective that is primarily concerned with empathy and compassion, and focused on needs, relationships, and group interests.

From her right flank, as it were, some critics have claimed that her work lacks sufficient empirical support; while from her left flank, she has been charged with essentialism and giving aid and comfort to the patriarchy. Gilligan is the author or co-author or some peer-reviewed journal articles and book chapters, and is the author, co-author, or editor of nine academic books, as well as a novel.

She is the recipient of numerous awards, prizes, and honorary degrees. Goleman was born in Stockton, California, in Later, Goleman worked primarily as a literary journalist and freelance writer. During the early part of his academic career, Goleman arranged for several extended stays in India and Sri Lanka, in pursuit of his interest in Asian traditions of meditation. The result was his first book, originally published in , on the different types of meditative techniques that he found there.

It was to the confluence of these dual streams of ancient meditative practice and modern neuroscience that he owed the breakthrough work that was soon to come. In this book, Goleman studies the emotions from biological, evolutionary, psychological, philosophical, and commonsense perspectives, showing the central role they play, not just in our affective life per se , but in all aspects of human cognition and action.

An encyclopedia of philosophy articles written by professional philosophers.

Gopnik was born in Philadelphia, Pennsylvania, in She is currently Professor of Psychology at the University of California, Berkeley, with an affiliate appointment in the Philosophy Department. Gopnik has worked at the intersection of developmental psychology and cognitive science. In particular, she noted early in her career that the mathematical models she was attempting to develop to represent the way infants learn to interact successfully with the world around them were formally similar to Bayesian networks, an application of graph theory to the theory of probability that had been independently developed by philosophers of science to try to understand the way science works, especially in the form of non-deductive logical inference induction and inference to the best explanation.

This was a highly significant observation for at least two reasons: first, it provided a kind of empirical confirmation that Bayesian networks really do capture something important about scientific reasoning; and, second, it powerfully demonstrated that babies are already capable of employing far more sophisticated methods of discovery than one might have imagined absent such evidence. The wide-ranging book in which Gopnik reported these and many other findings to a popular audience, The Philosophical Baby , was a runaway bestseller.

Gopnik is the author or co-author of more than peer-reviewed journal articles or book chapters, as well as the author, co-author, or editor of six books. The recipient of numerous awards, grants, fellowships, lectureships, and honorary degrees, in Gopnik was elected a Fellow of the American Academy of Arts and Sciences. Haidt was born in New York City in One of his papers, The Emotional Dog and Its Rational Tail [4] —which argues that we mostly make moral judgments on an intuitive basis, reserving moral reasoning for the ex post facto justification of decisions already made—-has been cited more than times.

Haidt first became widely known for his work in the field of positive psychology happiness research , especially for his book, The Happiness Hypothesis. In this book, he draws heavily on work in cultural anthropology which shows that certain character traits are recognized as embodying wisdom the world over. Next, Haidt turned his attention to developing an empirically based typology of the moral emotions moral foundations theory. His five categories are: caring; fairness; group loyalty; respect for authority; and purity sanctity.

In his most recent book, The Righteous Mind , Haidt argues that those on the political left tend to honor only the first two of these moral principles, while those on the political right honor all five of them. He further argues that the only way to narrow the divide between left and right is for those on both sides to be more conscious of the moral categories the other side is operating with. Very recently, Haidt has taken a lot of heat from the cultural left by suggesting that there needs to be a greater diversity of opinion in American academia.

Among other things, he has co-founded the Heterodox Academy to further that end. Haidt is the author or co-author of more than peer-reviewed journal articles and book chapters. Kagan was born in Newark, New Jersey, in Kagan began his career working on longitudinal studies designed to reveal whether early childhood experiences have lasting effects on the development of personality. He found that character traits are relatively buffered from any lasting effects of early traumatic experiences, and indeed are quite stable across the entire life cycle. Next, Kagan turned his attention to temperament—-relatively stable personality types.

He defined two such basic temperaments: inhibited shy, timid, socially withdrawn and uninhibited bold and socially outgoing. These analyses have been widely influential, both within the profession and among laymen; however, Kagan stressed that such knowledge is of only limited therapeutic usefulness, given that temperament arises out of a complex interaction between genes and environment, both of which are beyond our effective control.

In recent years, Kagan has turned his attention to a series of problems he finds with the psychological profession itself, including: disregarding the difference in settings in which experimental studies are conducted; basing theories and practices on single measures, rather than complex, multi-dimensional measurements; defining mental illnesses on the basis of symptoms without regard for etiology; and treating disorders with drugs that are non-specific for the disorder. In his most recent work, Kagan has written several books for a popular audience with the aim of pushing back against the tidal wave of materialist reductionism the idea that the mind is nothing but the brain in psychology and the wider culture.

Kagan is the author or co-author of some peer-reviewed journal articles and books chapters, as well as the author, co-author, or editor of more than 30 books. However, he was raised in Paris, where his parents had emigrated from Lithuania. After spending the war years in hiding in Nazi-occupied France, the family emigrated to Israel permanently in Kahneman is chiefly known for founding together with his long-time collaborator, Amos Tversky, who died in the academic discipline now known as behavioral economics.

Traditional economic theory had always assumed that human beings are rational actors, which means they can generally be relied upon to act in ways they perceive as furthering their own best interests. This idea was called rational choice theory or expected utility theory. Kahneman and Tversky felt that rational choice theory was unrealistic, and they set out to develop more empirically adequate models by making the more realistic assumption of bounded rationality.

Bounded rationality is the idea that, not only are human actors constrained by emotional factors such as irrational aversions and prejudices, they are simply not very good at reasoning correctly about certain kinds of situations especially ones involving probabilities. Kahneman and Tversky made a special study of the irrational bias they called loss aversion —-the common feeling that it is better to avoid losing something than it is to gain the same thing. According to this theory, the fast system has been hard-wired in us by evolution to enable us to react quickly to stressful situations based on rough-and-ready, heuristic behavioral propensities.

The slow system, on the other hand, allows us to reflect upon our experience in a more relaxed and thoughtful way. Kahneman has authored or co-authored some peer-reviewed journal article and book chapters, and is the author, co-author, or editor of seven books. Kurzban was born in Poughkeepsie, New York, in He is currently Professor of Psychology at the University of Pennsylvania. As a student of Cosmides, Kurzban belongs to the second generation of evolutionary psychologists on evolutionary psychology, see the entry for David M.

In a nutshell, he attempts to identify the selective advantage of particular human social behavioral traits in the context of our environment of evolutionary adaptedness EEA. To cite one well-known example from his work, Kurzban has argued that human beings undoubtedly possess an innate tendency to notice facial and other morphological features of people different from themselves, due to the social context of small-scale hunter-gatherer bands within which hominization occurred.

However, while to our modern eyes this history may appear unfortunate, giving rise to racism, the tendency itself is not really linked to race as such which is in any case a modern social construct. Kurzban has applied similar reasoning to other phenomena such as cooperation, morality, and mate choice drawing out implications for modern speed dating! Most recently, he has been a key player in the debate over the modularity of brain functions, a crucial assumption underlying evolutionary psychology. He also serves as Editor-in-Chief of Evolution and Human Behavior , and is the author or co-author of around peer-reviewed journal articles and book chapters, as well as the author, co-author, or editor of seven books.

Lewis was born in France in He is currently Professor of Psychology at the University of Sussex. The focus of his doctoral work was on the treatment of phobias and general anxiety states. Lewis originally intended to become a doctor, but never received his medical degree. During his time in medical school, he earned his living by his pen he published his first novel at the age of 16!

After leaving medical school, Lewis worked full-time for the next 10 years as a freelance journalist, photographer, and writer.

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During this period, he also worked in broadcast journalism, mainly as a presenter for the BBC on the radio and television. It was only after these experiences that he decided to pursue his higher education in psychology, as already outlined above. After graduation, Lewis taught for a while, before qualifying as a Chartered Psychologist and setting up in private practice, where, building upon his graduate school studies, he specialized in treating phobias and anxiety.

During this time, he pioneered a new type of therapy called neurofeedback, whereby patients monitor their own brain states in real time in response to various positive and negative stimuli, eventually learning to improve control over their emotions. Lewis also conducted research into the interaction between breathing and emotion, which resulted in a new form of breath-control therapy Bo-tau for controlling anxiety, phobic responses, and panic attacks. Moreover, he has used his insights into the way the mind and body work together to develop training programs in other fields of endeavor, such as sports and business.

In addition, he is considered to be the father of neuromarketing, a discipline which uses fMRI and other technology to study how prospective consumers respond to advertisements and other marketing stimuli. The author or co-author of more than 30 books, many of them bestsellers, Lewis is in high demand as a public speaker. He is also Director of Research at Mindlab International , an internationally recognized neuromarketing firm. Linehan was born in Tulsa, Oklahoma, in Patients suffering from BPD present with extremely volatile emotions and disturbed thinking, without crossing the line into full-blown schizophrenia—-hence the notion that they occupy a borderline between neurosis and psychosis.

Co-morbidities of BPD include clinical depression, bipolar disorder, self-harm, substance abuse, and suicidal ideation. Linehan has revealed that she herself was extremely troubled as an adolescent in retrospect, she believes she suffered from BPD and spent two years in a mental hospital, submitting to the relatively crude treatments then available.

This experience lay at the root of her determination to study her own condition scientifically. As she put it many years later:. Linehan was initially drawn to cognitive-behavioral therapy CBT , with its emphasis on helping patients to re-frame their conflicts in a more realistic way to enable them to gain sufficient detachment to bring their emotions under better voluntary control on CBT, see the entry for Aaron T.

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Evolutionary psychology

Beck, above. Soon, however, she felt that another component was needed—-religious faith. Linehan has written that her Catholic faith played an important role in her own eventual recovery. As an evidence-based therapy, DBT is considered by many experts to be the most effective treatment available for BPD and allied illnesses.

Linehan is the author or co-author of around peer-reviewed journal articles and book chapters, and is the author or co-author of seven books and manuals, several of which have been translated into many foreign languages. Beginning in the s, she conducted a series of experiments designed to reveal the stability of memory of recent events in the light of contradictory information given to the subject after the fact. Her conclusions showed that it is easy to convince people that their memories are incorrect, and even to cause them to change what they claim to remember—-a phenomenon she dubbed the misinformation effect.

Generalizing from such laboratory studies, Loftus concluded that human memories are constantly being reconstructed, and hence are far more malleable and open to suggestion than previously thought. Loftus and her work rocketed to fame in the early s when she gave expert testimony in a series of court cases involving the phenomenon of so-called repressed memory.


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At that time, the idea that the memory of traumatic events might be repressed and only recalled years or even decades later under questioning by experts had taken hold of the public imagination. Prominent cases involved purported mass child molestation and Satanic rituals. Loftus is the author or co-author of close to peer-reviewed journal articles and book chapters, as well as the author, co-author, or editor more than 20 books.

Meltzoff was born in Meltzoff began his career by studying the ability of very young infants to imitate adult facial expressions and manual gestures, culminating in a landmark paper published in , [6] in which Meltzoff and co-author M. Keith Moore established conclusively that infants as young as two weeks old are capable of reliably imitating adult expressions and gestures—-one of the first results to demonstrate that neonates possess far more sophisticated cognitive abilities than anyone had hitherto suspected.

Subsequent studies demonstrated similar abilities in newborns within the first hour after birth. These findings were revolutionary in several respects, not least in light of their cross-modal character vision and proprioception , which implied the existence of a highly developed innate cognitive faculty in newborns. As a result of his decades of research on infants, Meltzoff stresses the importance of infant imitation for laying the proper foundations for the normal development of our very humanity:.

Meltzoff is the author or co-author of more than peer-reviewed journal articles and book chapters, and has co-authored or edited four books, including three in collaboration with Alison Gopnik see above. The recipient of many awards, grants, and honorary degrees, Meltzoff sits on the editorial board of eight academic journals and the advisory board or board of trustees of four foundations. Miller was born in Cincinnati, Ohio, in His dissertation, written under the supervision of Roger N.

Miller has done research in a number of different areas of psychology, above all, in evolutionary psychology, and especially in two sub-fields within that discipline: human sexual selection and the new field of evolutionary consumer psychology.

Behavioral economics - Wikipedia

On evolutionary psychology in general, see the discussion under the entry for David M. Sexual selection, in a nutshell, is the idea that the sexes may sometimes evolve independently of each other through adaptations geared specifically to the mating preferences of the opposite sex. Miller is especially known for his work on updating famed statistician Ronald A.

The extravagant antlers of the extinct Irish elk are often cited as a case in point. Miller has argued that the human brain, whose rapid size increase he believes was due to intense sexual selection pressure, is a Fisherian runaway, and that therefore we should be very careful about the effects of our intelligence on our long-term survival.

Miller has also been at the forefront of developing the new field of evolutionary consumer psychology, which basically uses the logic of sexual selection to explain many features of modern consumer society, by linking them with high social status in males as a marker of reproductive success. All of this work is highly controversial, both inside the academy and out. Note : Walter Mischel passed on September 12, Mischel was born in Vienna, Austria, in His family fled to the US after the Anschluss in , settling in Brooklyn.

Mischel is most closely associated with the claim, originally made in his book Personality and Assessment , that personality traits are highly context-dependent, and that the notion there is a stable personality which manifests uniformly over time and across varied social contexts, as previously believed, is a myth.

He did not deny the reality of a fundamental underlying personality altogether, but claimed that its expression is highly complex, and best characterized in terms of contextualized, conditional if-then patterns of behavior. Mischel devised a simple experimental situation in which a child was offered the choice between one immediate treat or two treats after a relatively brief lapse of time. This became known as the marshmallow test after a favorite treat used by investigators.

The experiment was run on large numbers of children who were then followed longitudinally, so that it became possible to correlate test results with various academic and life outcomes over time. Mischel found that many years later children who were able to delay gratification had superior academic achievement, greater family and job stability, and even higher earnings.

Mischel is the author or co-author of some peer-reviewed journal articles and book chapters, as well as the author or co-author of four books. He is the recipient of far too many grants, awards, prizes, honorary degrees, consultancies, and editorships to mention here. Nadel was born in New York City in Throughout his career, Nadel has worked on the neural underpinnings of memory, though he has also branched out into other fields, such as the neurobiology and treatment of Down Syndrome.

The hippocampus is a structure within the limbic system of the brain, between the cerebrum and the cerebellum. In later work, Nadel put forward what became known as the multiple trace theory of memory, according to which the hippocampus remains the principal neural structure involved in storage and retrieval of episodic memory recall of events we have experienced , while semantic memory recall of linguistically mediated facts, such as, for Americans, the significance of the year is based in the neocortex. One consequence of this is that Chinese men are having to pay high bride-prices, and that men without economic resources are out of luck.

In another earlier posting, I noted another facet of this issue: guys who live in areas with too many men need to start flashing more of their cash see: How would more women help the economy? Douglas T. Behavioral economics meets bride-price, dowry, and prostitution. The cost of a woman versus the cost of a man : What do women pay for in a man? How would more women help the economy? The economic consequences of too many men. Deep Rationality : Evolutionary psychology meets behavioral economics. Noe, R. Biological markets.

Trends in Ecology and Evolution, 10, Pollet, T. Driving a hard bargain: sex ratio and male marriage success in a historical US population. Biology Letters, 4 , Kenrick, Ph. There's a different reason men find low waist-to-hip ratios attractive. Back Psychology Today. Back Find a Therapist. The professor assigned us a book called Homicide by two seminal evolutionary psychologists, Margo Wilson and Martin Daley. In the book, they applied evolutionary principles to demonstrate that there are certain criminal behaviors that transcend time and culture.

You might go to the Yanomami tribe of the Amazon and see patterns of criminality that are exactly the same as those in Oxford, England. As I flipped through those pages of that book in fall , my epiphany happened. I knew that I was going to pursue my PhD studying consumer behavior. Then when I saw this unbelievably powerful framework, I wanted to take those evolutionary principles and use them to study consumer behavior. GS: The idea is to apply evolutionary principles to study our behaviors, choices, and preferences when we put on our consumer hats.

I look at consumption with a capital C. Click here to download the Product Psychology course. Q: One frequent topic in your research is gender. Should I develop a global message that I transport across cultures? Or should I have local advertising whereby I tweak the message to fit all the cross differences? I say you can solve this practical problem through an understanding of evolutionary psychology. There are certain things in advertising that are universally understood in exactly the same way.

Green might be construed as a symbol of disease in one culture and as a symbol of fertility in another culture.

The Mind of the Market: How Biology and Psychology Shape Our Economic Lives The Mind of the Market: How Biology and Psychology Shape Our Economic Lives
The Mind of the Market: How Biology and Psychology Shape Our Economic Lives The Mind of the Market: How Biology and Psychology Shape Our Economic Lives
The Mind of the Market: How Biology and Psychology Shape Our Economic Lives The Mind of the Market: How Biology and Psychology Shape Our Economic Lives
The Mind of the Market: How Biology and Psychology Shape Our Economic Lives The Mind of the Market: How Biology and Psychology Shape Our Economic Lives
The Mind of the Market: How Biology and Psychology Shape Our Economic Lives The Mind of the Market: How Biology and Psychology Shape Our Economic Lives

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