Stocks — Science Tells us When to Hold ’em & When to Fold ’em
January 2008
Two new sciences shed light on an old problem of financial risk
With the stock market off to its worst first week of the year in history, investors are scrambling to decide whether or not to get out of the market. In my new book, The Mind of the Market, I describe the problem this way: our decisions about buying or selling things we value are heavily weighted by three psychological phenomena: the endowment effect, the sunk cost fallacy, and loss aversion. Understanding these will help you decide what to do with your investments. (continue reading…)
Michael Shermer read from and talked about his new book, The Mind of the Market, at various venues during his book tour in January 2008. Shermer discussed how economic and evolutionary theory speak the same language, and how our hardwired human biology affects modern economics. READ MORE about the book
National Capital Area Skeptics, Arlington, VA (January 12th, 2008)
Michael Shermer takes a seminar on remote viewing, a form of ESP in which one attempts to psychically view a remote object, person, or place through intuition or a sixth sense. Shermer reveals the normal explanation for this apparently paranormal phenomenon.
Michael Shermer takes a seminar on remote viewing, a form of ESP in which one attempts to psychically view a remote object, person, or place through intuition or a sixth sense. Shermer reveals the normal explanation for this apparently paranormal phenomenon.
How did we evolve from ancient hunter-gatherers to modern consumer-traders? Why are people so emotional and irrational when it comes to money and business decisions? Bestselling author Michael Shermer believes that evolution and evolutionary psychology provides an answer to both of these questions through the new science of evolutionary economics. (continue reading…)
