Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person＇s...Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person＇s psychological characteristics as variables studied financial market vision, such as asset pricing and portfolio a series of questions theoretical system. In this paper, from home and abroad on behavioral finance theory, based on the current situation in our country from the company＇s investment policy analysis behavioral finance theory in corporate finance in the application, in order for some of our corporate decision makers to provide a non-decision against the company fully rational and non-efficient market investment strategy.展开更多
We consider a behavioural model of an animal choosing between two activities, based on positive feedback, and exa- mine the effect of introducing cross inhibition between the motivations for the two activities. While ...We consider a behavioural model of an animal choosing between two activities, based on positive feedback, and exa- mine the effect of introducing cross inhibition between the motivations for the two activities. While cross-inhibition has pre- viously been included in models of decision making, the question of what benefit it may provide to an animal＇s activity selection behaviour has not previously been studied. In neuroscience and in collective behaviour cross-inhibition, and other equivalent means of coupling evidence-accumulating pathways, have been shown to approximate statistically-optimal decision-making and to adaptively break deadlock, thereby improving decision performance. Switching between activities is an ongoing decision process yet here we also find that cross-inhibition robustly improves its efficiency, by reducing the frequency of costly switches between behaviours .展开更多
Models of the evolution of learning often assume that learning leads to the best solution to any task, and disregard the details of the learning and decision-making process along with its potential pitfalls. These mod...Models of the evolution of learning often assume that learning leads to the best solution to any task, and disregard the details of the learning and decision-making process along with its potential pitfalls. These models therefore do not explain in- stances in the animal behavior literature in which learning leads to maladaptive behaviors. In recent years a growing number of theoretical studies use explicit models of learning mechanisms, offering a fresh perspective on the issue by revealing the dynam- ics of information acquisition and biases arising from it. These models have pointed out possible learning rules and their adaptive value, and shown that the value of learning may crucially depend on such factors as the layout of the physical environment to be learned, the structure of the payoffs offered by different alternatives, the risk of failure, characteristics of the learner and social interactions. This review considers the merits of explicit modeling in studying the evolution of learning, describes the kinds of results that can only be obtained from this modeling approach, and outlines directions for future research .展开更多
Despite their importance to conservation, reintroductions are still a risky endeavor and tend to fail, highlighting the need for more efficient post-release monitoring techniques. Reintroduced animals are released int...Despite their importance to conservation, reintroductions are still a risky endeavor and tend to fail, highlighting the need for more efficient post-release monitoring techniques. Reintroduced animals are released into unfamiliar novel environ ments and must explore their surroundings to gain knowledge in order to survive. According to theory, knowledge gain should be followed by subsequent changes to the animal＇s movement behavior, making movement behavior an excellent indicator of reintroduction progress. We aim to conceptually describe a logical process that will enable the inclusion of behavior （in particular, movement behavior） in management decision-making post-reintroductions, and to do so, we provide four basic components that a manager should look for in the behaviors of released animals. The suggested components are release-site fidelity, recurring locations, proximity to other individuals, and individual variation in movement behavior. These components are by no means the only possible ones available to a manager, but they provide an efficient tool to understanding animals＇ decision-making based on ecological theory; namely, the exploration-exploitation trade-off that released animals go through, and which underlies their behavior. We demonstrate our conceptual approach using data from two ungulate species reintroduced in Israel： the Persian fallow deer Dama mesopotamica and the Arabian oryx Oryx leucoryx [Current Zoology 60 （4）： 515-526, 2014] .展开更多
文摘Behavioral finance theory is constantly relaxing or even abandons traditional financial theory rational man assumptions and the efficient market hypothesis, based on the decision-making process to the actual person＇s psychological characteristics as variables studied financial market vision, such as asset pricing and portfolio a series of questions theoretical system. In this paper, from home and abroad on behavioral finance theory, based on the current situation in our country from the company＇s investment policy analysis behavioral finance theory in corporate finance in the application, in order for some of our corporate decision makers to provide a non-decision against the company fully rational and non-efficient market investment strategy.
文摘We consider a behavioural model of an animal choosing between two activities, based on positive feedback, and exa- mine the effect of introducing cross inhibition between the motivations for the two activities. While cross-inhibition has pre- viously been included in models of decision making, the question of what benefit it may provide to an animal＇s activity selection behaviour has not previously been studied. In neuroscience and in collective behaviour cross-inhibition, and other equivalent means of coupling evidence-accumulating pathways, have been shown to approximate statistically-optimal decision-making and to adaptively break deadlock, thereby improving decision performance. Switching between activities is an ongoing decision process yet here we also find that cross-inhibition robustly improves its efficiency, by reducing the frequency of costly switches between behaviours .
文摘Models of the evolution of learning often assume that learning leads to the best solution to any task, and disregard the details of the learning and decision-making process along with its potential pitfalls. These models therefore do not explain in- stances in the animal behavior literature in which learning leads to maladaptive behaviors. In recent years a growing number of theoretical studies use explicit models of learning mechanisms, offering a fresh perspective on the issue by revealing the dynam- ics of information acquisition and biases arising from it. These models have pointed out possible learning rules and their adaptive value, and shown that the value of learning may crucially depend on such factors as the layout of the physical environment to be learned, the structure of the payoffs offered by different alternatives, the risk of failure, characteristics of the learner and social interactions. This review considers the merits of explicit modeling in studying the evolution of learning, describes the kinds of results that can only be obtained from this modeling approach, and outlines directions for future research .
基金Acknowledgments O.B-T is supported by a Fulbright post-doctoral fellowship from the United States - Israel Educational Foundation. This study was funded by an Israel Science Foundation （ISF） grant 1397/10 and by the Israel Nature and Park Authority. We thank R. King and A. Dolev for their help during various phases of the project. This is publication number 844 of the Mitrani Department of Desert Ecology.
文摘Despite their importance to conservation, reintroductions are still a risky endeavor and tend to fail, highlighting the need for more efficient post-release monitoring techniques. Reintroduced animals are released into unfamiliar novel environ ments and must explore their surroundings to gain knowledge in order to survive. According to theory, knowledge gain should be followed by subsequent changes to the animal＇s movement behavior, making movement behavior an excellent indicator of reintroduction progress. We aim to conceptually describe a logical process that will enable the inclusion of behavior （in particular, movement behavior） in management decision-making post-reintroductions, and to do so, we provide four basic components that a manager should look for in the behaviors of released animals. The suggested components are release-site fidelity, recurring locations, proximity to other individuals, and individual variation in movement behavior. These components are by no means the only possible ones available to a manager, but they provide an efficient tool to understanding animals＇ decision-making based on ecological theory; namely, the exploration-exploitation trade-off that released animals go through, and which underlies their behavior. We demonstrate our conceptual approach using data from two ungulate species reintroduced in Israel： the Persian fallow deer Dama mesopotamica and the Arabian oryx Oryx leucoryx [Current Zoology 60 （4）： 515-526, 2014] .
