Carlos R. Garcia Retail Management Specialist. In more than 20 years of professional experience he dedicated himself to training Monographic course on Internet Law at CEF.- Center for Financial Studies Know the legal responsibilities that exist in the digital environment to protect your company Course on e-Marketing at CEF.- Center for Financial Studies To learn about E-Marketing, identify the strategies, their implementation and their success stories A brief analysis of the important changes that are taking place in economic doctrine. The new approaches try to explain why on many more occasions than we imagine, we make economic decisions that are very far from what we understand by rationality. When it comes to saving or spending, our behaviors are quite far from the mathematical models that we find in all economics books. What’s more, the behavior of our neurons is far removed from the operation of a state-of-the-art processor plus the appropriate software to make complex and rationally pure decisions. As if this were not enough, in addition, every day we live with joys, fears, jealousies, envies, dislikes and many other feelings that will undoubtedly condition our decisions and many times they are the ones that finally influence the final conclusion more than anything else.
It is simply enough to Jordan Email List how people behave in the face of specific cases, problems or small experiments to know these paradoxes or recurring anomalies in our daily economic decisions. Some of the mistakes we make are the rule rather than the exception, for example, we tend to develop different criteria for money depending on how it has entered our pockets and how it is about to leave them. Such errors are like optical illusions and lead us to believe false impressions to be true. Both visual and cognitive illusions are induced by automatic and spontaneous processes, through which we decode reality quickly and intuitively, but also approximate and misleading. Faced with the same problem, it can happen that we make diametrically opposite decisions according to how they represent it, otherwise why do we prefer a 95% skim yogurt instead of 5% fat? Similarly, we react differently to risk depending on whether it is presented to us with gains rather than losses. We live in uncertainty and in this context we must make decisions, but our perception of risk is fickle and the way we understand data, proportions, percentages and statistics is easily influenced. The numbers are not at all cold and objective for our mind, which often colors them with emotions with results that are as irrational as they are surprising.
The process through which our choices mature has been the subject of surprising and exciting inquiries by cognitive psychologists, neuroscientists, and experimental economists. His research has revealed the inadequacy of economic theory that makes any decision dependent on the pursuit of the maximum utility for the one who makes it. It also allows us to understand how we tend to be irrational and, above all, for what reasons. The Nobel Prize in Economics awarded in 2002 to a psychologist like Daniel Kahneman, was the initiator of this route and his views are the foundation of this new vision of human behavior.
Research on the brain and neurobiology suggests that our decisions are the product of an incessant negotiation between automatic processes and controlled processes, between affects and knowledge or, more vulgarly, between passions and reason, and the interplay of synapses in the corresponding brain areas. It is demonstrated that many times driven by our visceral impulses we sacrifice a little of our future for immediate pleasure. To make a correct decision, it is not enough to know what to do, but it is also necessary for the body to make us “feel” it. As if the instruments of rationality need special assistance to implement their plans: a little passion to help them!If our mind were governed exclusively by processes of a reflexive and deliberate type, and our brain was constituted only by the prefrontal cortex, then traditional economics would be a good theory of our real choices, but in this case, more than inhabitants of planet Earth we would be some aliens, Vulcans with pointy ears for example, gifted with a remarkable mathematical mind, and completely incapable of feeling emotions: like Dr Spock from the Star Trek series. Fortunately, our emotional economy is much richer, more varied, whimsical, and fun than that found in textbooks.