Search results
Results from the WOW.Com Content Network
This reverse engineering is used in disciplines such as psychology [13] and economics [14] to explain the features of human cognition. Reverse engineering can, in particular, help explain cognitive biases as adaptive solutions that assist individuals in decision-making when considering constraints such as the cost of processing information.
The adaptive market hypothesis, as proposed by Andrew Lo, [1] is an attempt to reconcile economic theories based on the efficient market hypothesis (which implies that markets are efficient) with behavioral economics, by applying the principles of evolution to financial interactions: competition, adaptation, and natural selection. [2]
In this form, drawing on behavioral economics, the nudge is more generally applied in order to influence behaviour. One of the most frequently cited examples of a nudge is the etching of the image of a housefly into the men's room urinals at Amsterdam's Schiphol Airport, which is intended to "improve the aim." [19]
The conceptual roots of organizational adaptation borrows ideas from organizational ecology, evolutionary economics, industrial and organizational psychology, and sociology. A systematic review of 50 years worth of literature defined organizational adaptation as "intentional decision-making undertaken by organizational members, leading to ...
Definition: Organismic trait designed to solve an ancestral problem(s). Shows complexity, special "design", functionality: Adaptation that has been "re-purposed" to solve a different adaptive problem. Byproduct of an adaptive mechanism with no current or ancestral function: Random variations in an adaptation or byproduct Physiological example
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory.
Evolutionary psychology proposes that the human psychology consists primarily of psychological adaptations, [2] which is opposed by the tabula rasa or blank slate model of human psychology. Early behaviourists, like B.F. Skinner , tended to the blank slate model and argued that innate behaviors and instincts were few, some behaviourists ...
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...