The (Mis)Behavior of Markets


Benoît B. Mandelbrot - 1997
    Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim. In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are. With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.

NeuroLogic: The Brain's Hidden Rationale Behind Our Irrational Behavior


Eliezer J. Sternberg - 2016
      From bizarre dreams and hallucinations to schizophrenia and multiple personalities, the human brain is responsible for a diverse spectrum of strange thoughts and behaviors. When observed from the outside, these phenomena are often written off as being just “crazy,” but what if they were actually planned and logical?  NeuroLogic explores the brain’s internal system of reasoning, from its unconscious depths to conscious decision making, and illuminates how it explains our most outlandish as well as our most stereotyped behaviors. From sleepwalking murderers, contagious yawning, and the brains of sports fans to false memories, subliminal messages, and the secret of ticklishness, Dr. Eliezer Sternberg shows that there are patterns to the way the brain interprets the world—–patterns that fit the brain’s unique logic. Unraveling these patterns and the various ways they can be disturbed will not only alter our view of mental illness and supernatural experience, but will also shed light on the hidden parts of ourselves.  (With black-and-white illustrations throughout.)

Irrational Exuberance


Robert J. Shiller - 2000
    The original and bestselling 2000 edition of Irrational Exuberance evoked Alan Greenspan’s infamous 1996 use of that phrase to explain the alternately soaring and declining stock market. It predicted the collapse of the tech stock bubble through an analysis of the structural, cultural, and psychological factors behind levels of price growth not reflected in any other sector of the economy. In the second edition (2005), Shiller folded real estate into his analysis of market volatility, marshalling evidence that housing prices were dangerously inflated as well, a bubble that could soon burst, leading to a “string of bankruptcies” and a “worldwide recession.” That indeed came to pass, with consequences that the 2009 preface to this edition deals with. Irrational Exuberance is more than ever a cogent, chilling, and astonishingly far-seeing analytical work that no one with any money in any market anywhere can afford not to read–and heed.

Inside the Nudge Unit: How Small Changes Can Make a Big Difference


David Halpern - 2015
    Behavioural scientist Dr David Halpern heads up Number 10’s ‘Nudge Unit’, the world’s first government institution that uses behavioural economics to examine and influence human behaviour, to ‘nudge’ us into making better decisions. Seemingly small and subtle solutions have led to huge improvements across tax, healthcare, pensions, employment, crime reduction, energy conservation and economic growth.Adding a crucial line to a tax reminder brought forward millions in extra revenue; refocusing the questions asked at the job centre helped an extra 10 per cent of people come off their benefits and back into work; prompting people to become organ donors while paying for their car tax added an extra 100,000 donors to the register in a single year. After two years and dozens of experiments in behavioural science, the results are undeniable. And now David Halpern and the Nudge Unit will help you to make better choices and improve your life.

Happiness: Lessons from a New Science


Richard Layard - 2005
    We all want more money, but as societies become richer, they do not become happier. This is not speculation: It's the story told by countless pieces of scientific research. We now have sophisticated ways of measuring how happy people are, and all the evidence shows that on average people have grown no happier in the last fifty years, even as average incomes have more than doubled.The central question the great economist Richard Layard asks in Happiness is this: If we really wanted to be happier, what would we do differently? First we'd have to see clearly what conditions generate happiness and then bend all our efforts toward producing them. That is what this book is about-the causes of happiness and the means we have to effect it.Until recently there was too little evidence to give a good answer to this essential question, but, Layard shows us, thanks to the integrated insights of psychology, sociology, applied economics, and other fields, we can now reach some firm conclusions, conclusions that will surprise you. Happiness is an illuminating road map, grounded in hard research, to a better, happier life for us all.

Being You: A New Science of Consciousness


Anil Seth - 2020
    Somehow, within each of our brains, billions of neurons work to create our conscious experience. How does this happen? Why do we experience life in the first person? After over twenty years researching the brain, world-renowned neuroscientist Anil Seth puts forward a radical new theory of consciousness and self. His unique theory of what it means to 'be you' challenges our understanding of perception and reality and it turns what you thought you knew about yourself on its head.'Awe-inspiring and humane.' NEW STATESMAN (Books of the Year)'Fascinating.' FINANCIAL TIMES (Books of the Year)'Profound.' GUARDIAN (Books of the Year)'Brilliant.' CLAIRE TOMALIN, NEW YORK TIMES'Outstanding.' PSYCHOLOGY TODAY 'Amazing . . . a brilliant read.'RUSSELL BRAND'Beautifully written, crystal clear, deeply insightful.'DAVID EAGLEMAN, Pulitzer Prize-nominated author of Livewired'Offers us new cause for astonishment and wonder.'ANNAKA HARRIS, author of Conscious'A fascinating book. A joy to read.'NIGEL WARBURTON'Truly compelling.'PROFESSOR KARL FRISTON, Universty College London'A wonderfully accessible and comprehensive account.'SEAN CARROLL, author of Something Deeply Hidden

Theoretical Neuroscience: Computational and Mathematical Modeling of Neural Systems


Peter Dayan - 2001
    This text introduces the basic mathematical and computational methods of theoretical neuroscience and presents applications in a variety of areas including vision, sensory-motor integration, development, learning, and memory.The book is divided into three parts. Part I discusses the relationship between sensory stimuli and neural responses, focusing on the representation of information by the spiking activity of neurons. Part II discusses the modeling of neurons and neural circuits on the basis of cellular and synaptic biophysics. Part III analyzes the role of plasticity in development and learning. An appendix covers the mathematical methods used, and exercises are available on the book's Web site.

The Other Side of Normal: How Biology Is Providing the Clues to Unlock the Secrets of Normal and Abnormal Behavior


Jordan Smoller - 2012
    Other bestselling works of neurobiology and the mind have focused on mental illness and abnormal behaviors—like the Oliver Sacks classic, The Man Who Mistook His Wife for a Hat—but The Other Side of Normal is an eye-opening, thought-provoking, utterly fascinating and totally accessible exploration of the universals of human experience. It will change forever our understanding of who we are and what makes us that way.

The Oxford Companion to the Mind


Richard Langton Gregory - 1987
    An important feature of the book is the large number of articles on topics of mental life, in which well-known writers discuss subjects in which they have a particular expertise. Noam Chomsky writes on his own theory of language, Idries Shah on Sufism, John Bowlby on attachment theory, B.F. Skinner on behaviorism, Oliver Sacks on nothingness, A.J. Ayer on philosophical views of the relation between mind and body, and R.D. Laing on interpersonal experience. The editor, Richard Gregory, contributes entries on aesthetics, phrenology, physiognomy, and illusions of perception. The Companion includes entries on such everyday events as sleep, humor, forgetting, and hearing, as well as specialized topics such as bilingualism, jet-lag, military incompetence, computer chess, and animal magnetism. What can, and all too often does, go wrong with the mind is also covered--many forms of mental illness are explored, as well as mental handicap, brain damage, and neurological disorders. Perception and the ways in which our senses are often deceived are treated in full, as are elements of personal development and learning, and the puzzling world of parapsychology with its altered states of consciousness, out-of-body experiences, and extra-sensory perception. The workings of the nervous system are explained in a special tutorial article. The text is supplemented by brief definitions of specialist terms and by biographies of major figures who have contributed to our understanding of the mind--individuals as varied as Plato, Johannes Kepler, William James, Sigmund Freud, and Alan Turing. The entries are arranged alphabetically and, following the style of other recent Companions, are linked by a network of helpful cross-references. The 160 illustrations have been carefully chosen to amplify the text, while specialist bibliographies provide suggestions for further reading.

A Universe of Consciousness: How Matter Becomes Imagination


Gerald M. Edelman - 2000
    Their pioneering work, presented here in an elegant style, challenges much of the conventional wisdom about consciousness. The Universe of Consciousness has enormous implications for our understanding of language, thought, emotion, and mental illness.

Why Choose This Book?: How We Make Decisions


Read Montague - 2006
    A director in theoretical neuroscience introduces readers to the latest findings in the science of decision-making, offering an accessible discussion of the origins of aesthetic choices, ethical behavior, financial decisions, and more, in an account that also connects behavioral science to mental illness and addiction.

A Beautiful Math: John Nash, Game Theory, and the Modern Quest for a Code of Nature


Tom Siegfried - 2006
    Today Nash's beautiful math has become a universal language for research in the social sciences and has infiltrated the realms of evolutionary biology, neuroscience, and even quantum physics. John Nash won the 1994 Nobel Prize in economics for pioneering research published in the 1950s on a new branch of mathematics known as game theory. At the time of Nash's early work, game theory was briefly popular among some mathematicians and Cold War analysts. But it remained obscure until the 1970s when evolutionary biologists began applying it to their work. In the 1980s economists began to embrace game theory. Since then it has found an ever expanding repertoire of applications among a wide range of scientific disciplines. Today neuroscientists peer into game players' brains, anthropologists play games with people from primitive cultures, biologists use games to explain the evolution of human language, and mathematicians exploit games to better understand social networks. A common thread connecting much of this research is its relevance to the ancient quest for a science of human social behavior, or a Code of Nature, in the spirit of the fictional science of psychohistory described in the famous Foundation novels by the late Isaac Asimov. In A Beautiful Math, acclaimed science writer Tom Siegfried describes how game theory links the life sciences, social sciences, and physical sciences in a way that may bring Asimov's dream closer to reality.

Neuroanatomy Through Clinical Cases


Hal Blumenfeld - 2002
    Too often, overwhelmed by anatomical detail, students miss out on the functional beauty of the nervous system and its relevance to clinical practice.

Think Smart: A Neuroscientist's Prescription for Improving Your Brain's Performance


Richard Restak - 2009
    In Think Smart, the renowned neuropsychiatrist and bestselling author Dr. Richard Restak details how each of us can improve and tone our body's most powerful organ: the brain. As a renowned expert on the brain, Restak knows that in the last five years there have been exciting new scientific discoveries about the brain and its performance. So he's asked his colleagues-many of them the world's leading brain scientists and researchers-one important question: What can I do to help my brain work more efficiently? Their surprising-and remarkably feasible-answers are at the heart of Think Smart. Restak combines advice culled from cutting-edge research with brain-tuning exercises to show how individuals of any age can make their brain work more effectively. In the same accessible prose that made Mozart's Brain and the Fighter Pilot a New York Times bestseller, Restak presents a wide array of practical recommendations about a variety of topics, including the crucial role sleep plays in boosting creativity, the importance of honing sensory memory, and the neuron- firing benefits of certain foods. In Think Smart, the "wise, witty, and ethical Restak" (says the Smithsonian Institution) offers readers helpful suggestions for fighting neurological decline that will put every reader on the path to building a healthier, more limber brain.

The Ostrich Paradox


Robert Meyer - 2017
    We rebuild in flood zones. We don’t wear helmets. We fail to purchase insurance. We would rather avoid the risk of ”crying wolf” than sound an alarm.Our ability to foresee and protect against natural catastrophes has never been greater; yet, we consistently fail to heed the warnings and protect ourselves and our communities, with devastating consequences. What explains this contradiction?In The Ostrich Paradox, Wharton professors Robert Meyer and Howard Kunreuther draw on years of teaching and research to explain why disaster preparedness efforts consistently fall short. Filled with heartbreaking stories of loss and resilience, the book addresses:How people make decisions when confronted with high-consequence, low-probability events—and how these decisions can go awry The 6 biases that lead individuals, communities, and institutions to make grave errors that cost lives The Behavioral Risk Audit, a systematic approach for improving preparedness by recognizing these biases and designing strategies that anticipate them Why, if we are to be better prepared for disasters, we need to learn to be more like ostriches, not lessFast-reading and critically important, The Ostrich Paradox is a must-read for anyone who wants to understand why we consistently underprepare for disasters, as well as private and public leaders, planners, and policy-makers who want to build more prepared communities.