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Theory of Meditation in Economic Decision Making
Author: [You must be registered and logged in to see this link.] 11/1/2018 12:00 am [rtl]Economic life is emerging today, without exception, to test an economic trend that has begun to transcend the barriers of the neo-classical school since 1979 and turn into so-called behavioral economics, which adopts the theory of meditation and perception in economic decision-making. This theory has been considered as a crossroads in the integration of psychological behavioral factors into economic models and models related to the economic decision. The traditional framework for decision-making adopted by major currents, such as the neoclassical economy, tends to adopt options between the various alternatives available, depending on the desired outcomes, and through the goals that the decision-maker itself aspires to summarize and often summarizes. The economic decision theory is based on the description of the conditions under which the option can be achieved (ie, the optimal option and its characteristics). When there is an economic risk (ie loss), the alternative available for each option will provide a probability distribution of the possibility of achieving the results by which the decision maker chooses Best probability distributions. Regardless of this and that in dealing with the issue of decision-making in the main currents of economics, the basic principles of the theory of meditation and the construction of perceptions have been anchored to the five principles since its birth in 1979. This trend in behavioral economics as a new school of economics led the pioneers of Such as Daniel Kanman and Richard Thieler, who won two Nobel Prizes in economics in 2002 and 2017, respectively. This leads us to gather ideas to summarize the five basic principles of the theory of meditation and perception of economic decision makers and according to the vision that came from Daniel Kanman and others as follows: The first principle goes to the idea that the actual decision in economic action responds (to changes in wealth) rather than wealth The change in the total value of the net assets of individuals and their assets, and this principle is contrary to the traditional trends prevailing in economics, which considers that decision-making comes in response to the issues (profit and loss). The second principle addressed by the theory of hope is (different positions on risk), ie, the degree of difference in risk tolerance, especially the face of loss. The difference is achieved even within the same time point and depends on the strength of diagnosis in the decision maker whether the loss really exist or not? This requires the ability to diagnose loss avoidance contexts where the importance of avoiding loss is important in diagnosing contexts. The third principle is based on the phenomenon of the so-called (diminishing sense) of profits and losses. The diminishing sensitivity requires a precise range based on estimates that come according to the different contexts of the decision-makers. The fourth principle notes that economic decision-makers and their makers build in the theory of hope their options on probability theory as the neo-classical school of economics goes, but they rely on what they see as a chance of success: the availability of optimism, ). Here the theory of meditation differs from the theory of probability in decision-makers, especially in the weak or verifiable possibilities, which are usually too overvalued or sometimes very underestimated or even neglected. The most objective possibilities need to be (shift or change) The case is limited and marked. Finally, it is noted that the theory of meditation addressed by behavioral economics is still evolving. Therefore, the predominant basis in decision-making is based on a principle associated with meditation called (visualization). The perceptions are subject to two types of options: the wide choice or the narrow alternative. The latter is called the narrow option of visualizing the phenomenon of short-sighted decision-making. However, perceptions remain important in decision-making and need to continue as a discretionary power. The importance of decision-making. In conclusion, the main economic schools such as the New School and the modern Ecclesiastical School have shown a strong reservation in the use of the theory of hope in economic decision-making for two main reasons: the expectations are modifiable because of the probability shift and the second, the points of reasoning or points of reference The theory of meditation is still incomplete and suffers from a lack of characterization when making decisions in the real world. Thus, the evolution of economic thought in the shadow of the Fourth Technological Revolution or the current digital age was influenced by the biological or biological theory of the economic behavioral pattern of the 21st century, and away from the thought patterns of the physical pattern and its constancy led by the second and third technological revolutions of the twentieth century. (*) If the probability means a quantitative measure in the verification of a randomized randomized event expressed by the number zero, which means the probability of occurrence of the event and the number one, which means the achievement of the event completely. While the probability distribution of the random variable to the diagnosis by which the random variable can take any Value or range of values.[/rtl] | |
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