In Gut Feelings: Short Cuts to Better Decision Making psychologist and behavioural expert Gerd Gigerenzer reveals the secrets of fast and effective decision-making. A sportsman can catch a ball without calculating its speed or distance. A group of amateurs beat the experts at playing the stock market. A man falls for the right woman even though she's 'wrong' on paper. All these people succeeded by trusting their instincts - but how does it work? As Gerd Gigerenzer explains, in an uncertain world, sometimes we have to ignore too much information and rely on our brain's 'short cut', or heuristic. By explaining how intuition works and analyzing the techniques that people use to make good decisions - whether it's in personnel selection or heart surgery - Gigerenzer will show you the hidden intelligence of the unconscious mind. 'Fascinating and provocative ... Gut Feelings may well be the recipe for a simpler, less stressful life' Sunday Times 'Gigerenzer's writing is catchily optimistic and slyly funny ... Devilish' Steven Poole, Guardian 'The science behind the phenomenon cited in the bestseller Blink ... useful and clearly written' Business Week 'Gigerenzer is brilliant' Stephen Pinker Gerd Gigerenzer is Director of the Center for Adaptive Behavior and Cognition at the Max Planck Institute for Human Development in Berlin and former Professor of Psychology at the University of Chicago. He has published two academic books on heuristics, Simple Heuristics That Make Us Smart and Bounded Rationality: The Adaptive Toolbox as well as a popular science book, Reckoning with Risk.

This publication provides updates on the bond market in Indonesia since 2017. The ASEAN+3 Bond Market Guide series provides information on the investment climate, rules, laws, opportunities, and characteristics of bond markets in Asia and the Pacific. It aims to help bond market issuers, investors, and financial intermediaries understand the local context and encourage greater participation in the region's rapidly developing bond markets. This edition updates the ASEAN+3 Bond Market Guide 2017: Indonesia.

This report examines the impacts of COVID-19 on labour markets along with adjustment patterns in Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. Labour markets in Southeast Asia were particularly hit hard in 2020 when government pandemic containment measures were most severe. COVID-19 exacerbated growing inequalities in the region and exposed large gaps in social protection . This report aims to help policymakers identify priorities, constraints, and opportunities for developing effective labour market strategies for economic recovery and beyond.

The Pacific region is expected to contract by 0.6% in 2021, and to grow by 4.7% in 2022. This issue of the Pacific Economic Monitor explores how the region can reopen and rebuild. Besides safely resuming travel and protecting health, a resilient recovery will depend on promoting fiscal sustainability and strengthening economic management, including regional cooperation to revitalize tourism.

Behavioural studies have shown that while humans may be the best decision makers on the planet, we are not quite as good as we think we are. We are regularly subject to biases, inconsistencies and irrationalities in our decision making. Decision Behaviour, Analysis and Support, published in 2009, explores perspectives from many different disciplines to show how we can help decision makers to deliberate and make better decisions. It considers both the use of computers and databases to support decisions as well as human aids to building analyses and some fast and frugal tricks to aid more consistent decision making. In its exploration of decision support it draws together results and observations from decision theory, behavioural and psychological studies, artificial intelligence and information systems, philosophy, operational research and organisational studies. This provides a valuable resource for managers with decision-making responsibilities and students from a range of disciplines, including management, engineering and information systems.

This book, based on the author's Clarendon Lectures in Finance, examines the empirical behaviour of corporate default risk. A new and unified statistical methodology for default prediction, based on stochastic intensity modeling, is explained and implemented with data on U.S. public corporations since 1980. Special attention is given to the measurement of correlation of default risk across firms. The underlying work was developed in a series of collaborations over roughly the past decade with Sanjiv Das, Andreas Eckner, Guillaume Horel, Nikunj Kapadia, Leandro Saita, and Ke Wang. Where possible, the content based on methodology has been separated from the substantive empirical findings, in order to provide access to the latter for those less focused on the mathematical foundations. A key finding is that corporate defaults are more clustered in time than would be suggested by their exposure to observable common or correlated risk factors. The methodology allows for hidden sources of default correlation, which are particularly important to include when estimating the likelihood that a portfolio of corporate loans will suffer large default losses. The data also reveal that a substantial amount of power for predicting the default of a corporation can be obtained from the firm's "distance to default," a volatility-adjusted measure of leverage that is the basis of the theoretical models of corporate debt pricing of Black, Scholes, and Merton. The findings are particularly relevant in the aftermath of the financial crisis, which revealed a lack of attention to the proper modelling of correlation of default risk across firms.

What if our ability to make decisions was more a matter of chance than a rational process? It has long been recognized that the mind decides, the body obeys. However, as the author of this book argues, in reality it might just be the opposite. The decision-making process is produced by cerebral matter. It is a random phenomenon that results from competing processes within a network whose architecture has changed little since the first vertebrates. This book presents a 'bottom-up' approach to understanding decision making, starting from the fundamental question: what are the basic properties that a neural network of decision making needs to possess? Combining data drawn from phylogeny and physiology, the book provides a general framework for the neurobiology of decision-making in vertebrates, and explains how it evolved from the lamprey to the apes. It also looks at the consequences of such a framework: how it impacts our capacity for reasoning, and considers some aspects of the pathophysiology of higher brain functions. It ends with an open discussion of more philosophical concepts such as the nature of Free-will. Written in a lively and accessible style, the book presents an exciting perspective on understanding decision making.

An analogy is a comparison between two things. It points out the similarities between two things that might be different in all other respects. Analogies cause us to think analytically about forms, uses, structures, and relationships. This all-time favorite resource not only gives students a chance to practice solving analogies, but also invites them to open their minds to a completely new way of analyzing the elements of analogies. Each page introduces several categories of analogies. Each category expands students' way of viewing the world and contrasting and comparing elements. Thinking Through Analogies also instills the tools whereby students can create relationships to enhance their creative and formal writing, as well as to heighten their critical thinking in test taking. Other books that teach analogies are Analogies for Beginners and Analogies for the 21st Century. Grades 3-6

Amazingly, the complexities of voting theory can be explained and resolved with comfortable geometry. A geometry which unifies such seemingly disparate topics as manipulation, monotonicity, and even the apportionment issues of the US Supreme Court. Although directed mainly toward students and others wishing to learn about voting, experts will discover here many previously unpublished results. As an example, a new profile decomposition quickly resolves the age-old controversies of Condorcet and Borda, demonstrates that the rankings of pairwise and other methods differ because they rely on different information, casts serious doubt on the reliability of a Condorcet winner as a standard for the field, makes the famous Arrow's Theorem predictable, and simplifies the construction of examples.

Whilst a great deal of progress has been made in recent decades, concerns persist about the course of the social sciences. Progress in these disciplines is hard to assess and core scientific goals such as discovery, transparency, reproducibility, and cumulation remain frustratingly out of reach. Despite having technical acumen and an array tools at their disposal, today's social scientists may be only slightly better equipped to vanquish error and construct an edifice of truth than their forbears - who conducted analyses with slide rules and wrote up results with typewriters. This volume considers the challenges facing the social sciences, as well as possible solutions. In doing so, we adopt a systemic view of the subject matter. What are the rules and norms governing behavior in the social sciences? What kinds of research, and which sorts of researcher, succeed and fail under the current system? In what ways does this incentive structure serve, or subvert, the goal of scientific progress?

This innovative textbook makes the tools and applications of game theory and strategic reasoning both fascinating and easy to understand. Each chapter focuses a specific strategic situation as a way of introducing core concepts informally at first, then more fully, with a minimum of mathematics. At the heart of the book is a diverse collection of strategic scenarios, not only from business and politics, but from history, fiction, sports, and everyday life as well. With this approach, students don't just learn clever answers to puzzles, but instead acquire genuine insights into human behaviour. Written for major courses in economics, business, political science, and international relations, this textbook is accessible to students across the undergraduate spectrum.

A global catastrophic risk is one with the potential to wreak death and destruction on a global scale. In human history, wars and plagues have done so on more than one occasion, and misguided ideologies and totalitarian regimes have darkened an entire era or a region. Advances in technology are adding dangers of a new kind. It could happen again.
In Global Catastrophic Risks 25 leading experts look at the gravest risks facing humanity in the 21st century, including asteroid impacts, gamma-ray bursts, Earth-based natural catastrophes, nuclear war, terrorism, global warming, biological weapons, totalitarianism, advanced nanotechnology, general artificial intelligence, and social collapse. The book also addresses over-arching issues - policy responses and methods for predicting and managing catastrophes.
This is invaluable reading for anyone interested in the big issues of our time; for students focusing on science, society, technology, and public policy; and for academics, policy-makers, and professionals working in these acutely important fields.

Balance the benefits of digital transformation with the associated risks with this guide to effectively managing cybersecurity as a strategic business issue. Important and cost-effective innovations can substantially increase cyber risk and the loss of intellectual property, corporate reputation and consumer confidence. Over the past several years, organizations around the world have increasingly come to appreciate the need to address cybersecurity issues from a business perspective, not just from a technical or risk angle. Cybersecurity for Business builds on a set of principles developed with international leaders from technology, government and the boardroom to lay out a clear roadmap of how to meet goals without creating undue cyber risk. This essential guide outlines the true nature of modern cyber risk, and how it can be assessed and managed using modern analytical tools to put cybersecurity in business terms. It then describes the roles and responsibilities each part of the organization has in implementing an effective enterprise-wide cyber risk management program, covering critical issues such as incident response, supply chain management and creating a culture of security. Bringing together a range of experts and senior leaders, this edited collection enables leaders and students to understand how to manage digital transformation and cybersecurity from a business perspective.

We find risks everywhere-from genetically modified crops, medical malpractice, and stem-cell therapy to intimacy, online predators, identity theft, inflation, and robbery. They arise from our own acts and they are imposed on us. In this Very Short Introduction, Baruch Fischhoff and John Kadvany draw on the sciences and humanities to explore and explain the many kinds of risk. Using simple conceptual frameworks from decision theory and behavioural research, they examine the science and practice of creating measures of risk, showing how scientists address risks by combining historical records, scientific theories, probability, and expert judgment.Risk: A Very Short Introduction describes what has been learned by cognitive scientists about how people deal with risks, applying these lessons to diverse examples, and demonstrating how understanding risk can aid choices in everyday life and public policies for health, safety, environment, finance, and many other topics. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

An original approach to the identification of fallacies focusing on their relationship to human self deception, mental trickery, and manipulation. Introduces the concept of fallacies and details 44 foul ways to win an argument.