• Publications
  • Influence
Neural mechanisms of observational learning
Individuals can learn by interacting with the environment and experiencing a difference between predicted and obtained outcomes (prediction error). However, many species also learn by observing theExpand
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An introduction to prior information derived from probabilistic judgements: elicitation of knowledge, cognitive bias and herding
Abstract Opinion of geological experts is often formed despite a paucity of data and is usually based on prior experience. In such situations humans employ heuristics (rules of thumb) to aid analysisExpand
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Herding, social influence and economic decision-making: socio-psychological and neuroscientific analyses
  • M. Baddeley
  • Psychology, Medicine
  • Philosophical Transactions of the Royal Society B…
  • 27 January 2010
Typically, modern economics has steered away from the analysis of sociological and psychological factors and has focused on narrow behavioural assumptions in which expectations are formed on theExpand
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The Relationship between Capital Stock, Unemployment and Wages in Nine EMU Countries
The focus of this paper is to investigate the importance of the capital stock in the determination of wages and unemployment in a range of EMU countries and to compare the results across countries. AExpand
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Energy, the Environment and Behaviour Change: A survey of insights from behavioural economics
Evidence of climate change is largely undisputed but moderating the impacts not only of climate change but also of resource depletion is a complex, multi-faceted problem. Technical solutions willExpand
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Housing Bubbles, Herds and Frenzies: Evidence from British Housing Markets
1 In a world of uncertainty, imperfect information and irreversible decision-making, speculation and information acquisition will generate bubbles, herding and frenzies in housing demand. TheExpand
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Striatal BOLD Response Reflects the Impact of Herd Information on Financial Decisions
Like other species, humans are sensitive to the decisions and actions of conspecifics, which can lead to herd behavior and undesirable outcomes such as stock market bubbles and bank runs. However,Expand
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Using e-cash in the New Economy: An economic analysis of micro payments systems
The growth of electronic commerce is dependent upon the emergence of effective electronic payment systems. Whilst payments for large purchases can be made relatively easily using credit/debit cards,Expand
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Herding And Social Pressure In Trading Tasks: A Behavioural Analysis
We extend the experimental literature on Bayesian herding using evidence from a financial decision-making experiment. We identify significant propensities to herd increasing with the degree ofExpand
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Divergence in India: Income differentials at the state level, 1970–97
Abstract We examine India's regional disparities in economic performance between 1970–97. Our preliminary analysis shows that, in absolute terms, initially poorer states grew at slower rates thanExpand
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