The Glass is Half-Full: Overestimating the Quality of a Novel Environment is Advantageous

The Glass is Half-Full: Overestimating the Quality of a Novel Environment is Advantageous

According to optimal foraging theory, foraging decisions are based on the forager's current estimate of the quality of its environment. However, in a novel environment, a forager does not possess information regarding the quality of the environment, and may make a decision based on a biased estimate. We show, using a simple simulation model, that when facing uncertainty in heterogeneous environ...

Is the glass half full or half empty?

P ulmonologists have generally taken a nihilistic view of chemotherapy for the treatment of advanced lung cancer. In a study of beliefs among pulmonologists in the therapeutic treatment of lung cancer, Schroen and colleagues found that only one third of those surveyed believed that chemotherapy conferred a survival benefit for patients with stage IV non-small cell lung cancer and 35% said they ...

Vanuatu’s economy: is the glass half empty or half full?

Timo Henckel is a Fellow in international and development economics at the Crawford School of Economics and Government, The Australian National University Vanuatu’s economy paints a picture of contradictions: it has continued on the recent growth path with low inflation, government budget surpluses, and increased capital inflows. Yet successful management of the economy has not translated into ...

Housing Microfinance: Is the Glass Half Empty or Half Full?

Donors, governments, microfinance networks, and foundations have promoted housing microfinance (“HMF”) for a decade. Considerable operational experience has accrued on this practice over this time. Meanwhile, many emerging economies have grown rapidly, which has changed housing markets and the context for HMF. The moment, then, is auspicious for a re-examination of housing microfinance and its ...

MR RESCUE: is the glass half-full or half-empty?