A recent news item in Nature‘s web site goes into a fairly long description of the biohackers, and the the title of the article tells it all: Garage biotech: Life hackers. So what is life hacking? Do it yourself molecular biology, viewing biological systems as equivalent to electronic or software systems. It looks to me right now that it’s at the DNA equivalent of phone hacking. That’s not an exact metaphor, but garage labs are created by those just as hacking-oriented as the early phone phreakers. Biopunk – more than John’s novels. Read More
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The brain, the computer, and the economy
I have a love-hate relationship with the idea of neuroeconomics. The materialist neuroscience side of my brain likes the idea that behavior – even behavior resulting from emergent properties of complex networks – is quantifiable and predictable. It’s only predictable if you know all the input parameters (and you can’t know that Subject X has an aversion to green for reasons that have something to do with a lollipop at Coney Island when he was six). But the central fallacy of economics has been the “rational actor” paradigm, which is based on the assumption that individuals make rational choices when it comes to money and will always behave to maximize their own economic interests. They don’t. Economist with a clue understand this. Really smart economists are trying to understand the underlying why and how. Let’s start with the experimental result from psychology showing that humans are more likely to make a bad economic decision out of fear of loss than they are like to make that decision out of hope of gain. Does information have any effect?
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