Page 10 - Thinking Fast News Today

Now is the time for action The bankruptcy of economics and the negligence and malfeasance of the economics profession is now evident, as I have charged since the 1960s and in my “Economists versus Ecologists”, New York Times, October 24, 1971. The generational task of metaphysical reconstruction is almost complete, as we see all the policy and market failures around us: from climate change and pandemics to crises in our global food systems and the proliferation of space junk on our planet�...

Wherever there is human judgment, there is noise. ‘ Noise may be the most important book Ive read in more than a decade. A genuinely new idea so exceedingly important you will immediately put it into practice. A masterpiece’ Angela Duckworth, author of Grit Steven Levitt, co-author of Freakonomics Imagine that two doctors in the same city give different diagnoses to identical patients – or that two judges in the same court give different sentences to people who have committed matching...

Wherever there is human judgment, there is noise. ‘ Noise may be the most important book Ive read in more than a decade. A genuinely new idea so exceedingly important you will immediately put it into practice. A masterpiece’ Angela Duckworth, author of Grit Steven Levitt, co-author of Freakonomics Imagine that two doctors in the same city give different diagnoses to identical patients – or that two judges in the same court give different sentences to people who have committed matching...

Attention matters, argues Faris Yakob, but using it to its full potential is a case of balancing fast and slow media to work across both high and low attention environments. How fast are you reading this? A meta-analysis of 190 studies suggests the average adult reading speed in English is 238 words per minute for non-fiction (it’s slightly higher for fiction). Whether you are reading this and how rapidly is a function of a number of elements. The fact that you are reading it at all suggests ...

In his fascinating book Thinking Fast and Slow, psychologist Daniel Kahneman describes several experiments from his extensive research career. A couple experiments stuck out to me as being particularly relevant to us in the cattle business. In the design of one experiment, some participants were given a coffee mug, and some participants were given a small amount of money with which to potentially buy the mug from the other participants. Dr. Kahneman and his colleagues were interested in how ea...

Is that cull cow a good return in enterprise accounting?

How inexperienced investors are taken in by hype Updated / Thursday, 11 Mar 2021 16:04 "Inexperienced investors try to simplify the situation using mental shortcuts when overwhelmed with too much information and too little time" Analysis: research using eye-tracking technology found big contrasts between how different investors gather information Its human nature to want to portray the best version of yourself to the outside world. Companies and their management teams are no different. Throug...

by Thomas E. Patterson, The Journalists Resource October 27, 2020 h1 Election Beat 2020: How news outlets become misinformation superspreaders /h1 p class "byline" by Thomas E. Patterson, The Journalists Resource br October 27, 2020 /p p Russia is again peddling misinformation in an attempt to upend our election. It’s an important news story, but there’s a larger threat that’s getting less coverage. In a New York University Stern School a href "https://www.nyu.edu/about/news-publ...

January 18, 2021 Lucinda Robb THE WASHINGTON POST – Sometimes you really want to like a book. The attraction starts with a well-designed cover that catches your eye (in this case, one reminiscent of Thinking Fast and Slow by Daniel Kahneman or virtually any Malcolm Gladwell book) and the tease of a groundbreaking idea. Add the promise of a silver lining for a disadvantaged group, and it should be a feel-good read. Unfortunately, The Pattern Seekers: How Autism Drives Human Invention by Camb...

Uncertainty is a challenge for all businesses, no matter their sector. Every company has to deal with it in one form or another, and sadly that has been amplified over the past year. But it’s important not to let uncertainty lead to inaction, as the way you handle it is crucial in determining the fate of your business. Author and innovation consultant Tim Kastelle once said: “We can’t use not knowing as an excuse not to act, because we never know”. And he’s right. But here’s...