Theories in behavioral economics and psychology have identified a number of biases with respect to our memory of experiences, our prediction of experiences, as well as the change of actual subjective experience over time. For example, when we try to predict how we will feel in the future, we may overestimate the intensity of our emotions. The level of happiness that I expect to feel during my next vacation may be higher than how I will rate it during the actual experience. There are different explanations for this error, including how we remember past events. My memory of a past vacation is likely to be non-representative of the vacation overall, and I may evaluate it based on the most pleasurable points and its end, for example, rather than the average of every moment of the experience (the peak-end-rule). In addition, as my vacation days go by, I will simply get used to it and my happiness will level out. According to the concept of hedonic adaptation, changes in experiences tend … [Read more...] about Adapt or Perish?
It is a puzzlement whether the cottage industry of international election observers populating the American commentariat really understand what is at stake in the upcoming British parliamentary election. It should be more widely discussed than it is. And analyses should focus on what is motivating voters, rather than whether the Tories or Labor are more likely, according to the polls, to come out ahead. In reality, the future of representative democracy may be on the line, at least as far as the idea the people deserve to get what they voted for. It has been more than three years since 51.9 percent of those participating in a referendum on whether Britain should remain in the European Union took the position it should not. Yet, after three different prime ministers and one general election, the U.K. is still in the EU. The why is easy to understand. The elites, including what has proved to be a majority of Parliament, think the people made the wrong decision and have done all they can … [Read more...] about From Brexit to Trump, the People Deserve to Get What They Voted For | Opinion
Artists Amrita Katara and Parth Palsay present distinct and contemporary styles of their respective mixed media art and sculptural pottery Pune As a child, Amrita recalls scribbling on paper and drawing pretty much everywhere. However, she never considered studying art as much. It was during her graduation in Economics that she realised her love for art. She says, “It was when I saw my roommate who was an Arts student do her homework that I realised what I wanted. Her assignment was to sketch people and I immediately felt like doing it. I saw that I want to explore that.”That’s when she started to focus on creating art. However, it was still not about studying art in-depth. It was only when she came back to Pune after her education in Wheaton College near Boston that she took art seriously. “I came to Creative Club and bettered my skills here. A lot of my training came from here. The Club mentored and guided me to what I am today.”Amrita, along with … [Read more...] about Merging mediums through art and sculptures
Wayanad: Citing the increasing number of rape cases in the country, Congress leader Rahul Gandhi on Saturday said the international community was ridiculing the country and India was now known as the 'rape capital' of the world. Winding up a three-day tour of his Wayanad Lok Sabha constituency, the Congress MP also lashed out at Prime Minister Narendra Modi and said his (Modi's) entire political career was based on hatred and division and violence. "The girls, sisters and mothers must be shocked when they read newspapers that every day a girl is raped or killed... The international community today ridicules India. India is known as the rape capital of the world," Gandhi said. In an apparent reference to the rape case against UP BJP MLA Kuldeep Singh Sengar, he alleged that the Prime Minister had failed to react when the victim's car was hit by a truck. "UP BJP MLA is involved in rape and PM hasn't said a word. Her car is hit by a truck and PM doesn't say a word... Foreign nations … [Read more...] about India now known as ‘rape capital’, says Rahul Gandhi
Iran has told the UK it wants to resolve the stand-off over the supertanker held in Gibraltar and insists it is not trying to escalate the issue.Foreign Secretary Jeremy Hunt and Iranian foreign minister Mohammad Javad Zarif discussed the crisis and heightened tensions in a phone call.In a series of tweets announcing the conversation about Grace 1, Mr Hunt said it had been a "constructive call".He wrote: "I reassured him our concern was destination not origin of the oil on Grace One & that UK would facilitate release if we received guarantees that it would not be going to Syria, following due process in Gib courts."He later told Sky News: "I made it clear that we want to resolve the situation with the Grace 1 tanker in Gibraltar. Our concern has always been the destination of the tanker and the fact that it was taking oil to Syria - not the origin of the oil. Advertisement "And I said that if we could receive sufficient guarantees that that tanker was not headed for … [Read more...] about Iran tells UK it wants to resolve crisis over supertanker seized off Gibraltar
The prospect of golf’s leading men and women competing in the same event is edging closer, according to the head of the LPGA Tour, who confirmed talks are taking place with his equivalents at men’s tours on both sides of the Atlantic. Mike Whan also said the concept of women professionals earning identical sums to men is not fanciful. Whan, who has been the LPGA Tour commissioner since 2010, has been in detailed discussions with Jay Monahan of the PGA Tour and the European Tour’s Keith Pelley as golf seeks to boost interest levels with mixed events. Options including full and smaller field events, plus mixed pairs competitions, are being assessed. “Jay and I have talked about it, trying to figure out an event where the PGA and the LPGA play together, and I have had the same conversations with Keith,” Whan said. “Not only is it just a good thing to do – unique and fun – but, if you ask our young superstars, they are excited about it. If … [Read more...] about LPGA Tour makes swing towards mixed golf events and more prize money