There are Free Lunches Statement of Intentions

There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.

Thursday, 9 June 2011

Why Can’t More Poor People Escape Poverty? (Via Simoleon Sense)

Flannery O’Connor once described the contradictory desires that afflict all of us with characteristic simplicity. “Free will does not mean one will,” she wrote, “but many wills conflicting in one man.” The existence of appealing alternatives, after all, is what makes free will free: What would choice be without inner debate? We’re torn between staying faithful and that alluring man or woman across the room. We can’t resist the red velvet cake despite having sworn to keep our calories down. We buy a leather jacket on impulse, even though we know we’ll need the money for other things. Everyone is aware of such inner conflicts. But how, exactly, do we choose among them? As it turns out, science has recently shed light on the way our minds reconcile these conflicts, and the result has surprising implications for the way we think about one of society’s most intractable problems: poverty. In the 1990s, social psychologists developed a theory of “depletable” self-control. The idea was that an individual’s capacity for exerting willpower was finite—that exerting willpower in one area makes us less able to exert it in other areas. In 1998, researchers at Case Western Reserve University published some of the young movement’s first returns. Roy Baumeister, Ellen Bratslavsky, Mark Muraven, and Dianne Tice set up a simple experiment. They had food-deprived subjects sit at a table with two types of food on it: cookies and chocolates; and radishes. Some of the subjects were instructed to eat radishes and resist the sweets, and afterwards all were put to work on unsolvable geometric puzzles. Resisting the sweets, independent of mood, made participants give up more than twice as quickly on the geometric puzzles. Resisting temptation, the researchers found, seemed to have “produced a ‘psychic cost.’”

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