August 2014

Sun Mon Tue Wed Thu Fri Sat
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31            
Blog powered by Typepad

« On Coase and Coasean Economics | Main | Is There Nothing New Under the Sun in the Field of Economic Policy? »

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451eb0069e201a3fcc536c0970b

Listed below are links to weblogs that reference Isolation and the Cognitive Capacity of Human Beings:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

There is also this:

"In a nutshell, the bottom line emerging from economic research on group decision-making is that groups are more likely to make choices that follow standard game-theoretic predictions, while individuals are more likely to be influenced by biases, cognitive limitations, and social considerations. In this sense, groups are generally less "behavioral" than individuals. An immediate implication of this result is that individual decisions in isolation cannot necessarily be assumed to be good predictors of the decisions made by groups. More broadly, the evidence casts doubts on traditional approaches that model economic behavior as if individuals were making decisions in isolation."

"Groups Make Better Self-Interested Decisions" Author(s): Gary Charness and Matthias SutterSource: The Journal of Economic Perspectives, Vol. 26, No. 3 (Summer 2012), pp. 157-176.

The comments to this entry are closed.