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Publication Name: Knowing and Making

Brief description: A blog about cognitive and behavioural economics. Building mathematical models of how psychology influences economic systems.

RSS Feed: link

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Owner Name: Leigh Caldwell

Joined: August 20th, 2011

Activity

Knowing and Making wrote a new blog post titled A new team member and new plans

Hello, today it’s not Leigh posting, but me, Tara, his new colleague! I’ve recently started working for Inon and with Leigh on his cognitive economics work. I’ll be writing content on cognitive economics, spreading the word about cognitive economics to both academic and general audiences and also organising events around cognitive economics. I wanted to take this opportunity to introduce myself and also fill you in on some exciting events on cognitive economics coming up. All cards on the table...
(7 days ago)

Knowing and Making wrote a new blog post titled Rebuilding macroeconomics

Spending today and tomorrow attending the Rebuilding Macroeconomics conference at the Treasury. The programme looks very interesting - highlights include: Ekaterina Svetlova's opening talk on "Imagining the Future", which I think will be quite relevant to System 3 and an idea I have been working on, prospective expectations: the concept that actors based their decisions not on a Nash equilibrium (rational expectations) or on a simple extrapolation of the past (adaptive expectations), but on...
(47 days ago)

Knowing and Making wrote a new blog post titled Neuroscience, psychology and economics: the evidence for System 3 (long)

In my last post I outlined the concept of System 3, what it is and why it matters. In short, System 3 is the mental ability to imagine the future and evaluate how happy you will be in it – based on how pleasurable the process of imagining itself is. A lot of different research strands have come together to result in the identification of System 3 as a distinct mental process. I summarise the key steps here: The fundamental building block of System 3 is the stimulus-response relationship. It...
(203 days ago)

About:

This blog is about cognitive and behavioural economics. It discusses their impact on economic theory, and how to apply them in business, especially in pricing and marketing. It also explores how our perceptions and mental models affect the macroeconomy.

It is written by Leigh Caldwell (email me at [email protected]).

My other blog is Pricing Revolution, specifically around innovative pricing models and advice on how businesses can set their prices.

As well as writing this blog, I am chief executive of Inon Pricing Advisers - which uses behavioural economics and psychology research to help companies charge the right prices for their products. Please click through to find out more.

I am also founder of think tank Intellectual Business which publishes research and policy papers on how ideas from economics can be used in business and in the public sector.