Sometimes it isn’t how much sleep you got that’s important, but how much sleep you think you got.
Our own perception of how much we slept during a night can be startlingly inaccurate. Dr Allison Harvey (now of UC Berkley) took insomniacs and measured how much they actually slept during the night. Despite the insomniacs reporting that they had only slept for two or three hours, they had in fact been asleep for an average of 7 hours – only 35 minutes less than a control group who didn’t have any problems sleeping.
Continue reading “Don’t think, sleep!”
There was a great Analysis programme on radio 4 last night: The Economy on the Couch which was about behavioural economics, neuroeconomics (whatever that is) and ways in which we fail to act like the rational agents that standard economic theory supposes us to be
One irrationality- a human frailty for fairness- is revealed by a thing called the Ultimatum Game. The Ultimatum Game works like this. I am offered some money, say ¬£100, on the condition that I share it with you. I get to decide the split, and you get to say if you accept it or not. If you accept, we get the money in the proportions I determined, if you reject my split then neither of us gets anything. So what would you do if I offered ¬£1 to you, leaving me with the other ninety-nine?
Continue reading “Choice Irrationalities”