This article formalizes investor rationality and irrationality, exuberance and apprehension, to consider the implications of belief formation for the fragility of an economy’s financial structure. The model presented generates a financial structure with portfolio linkages that make it susceptible to contagious financial crises, despite the absence of coordination failures. Investors forecast th...

Antibiotics are medicines used to prevent and treat bacterial infections. Antibiotic usage is increasing rapidly day by with or without prescription. Irrational prescription usage, negligence of standard guidelines antimicrobial resistance complexity in the therapy desired outcome. High-volume antibiotics primary health care a major factor contributing antibiotic resistance. Educating physician...

With the dissemination of non-invasive human neuroimaging techniques such as fMRI and the advancement of cognitive science, neuroimaging studies focusing on emotions and social cognition have become established. Along with this advancement, behavioral economics taking emotional and social factors into account for economic decisions has been merged with neuroscientific studies, and this interdis...

The generation of value bubbles is an inherently psychological and social process, where information sharing and individual decisions can affect representations of value. Bubbles occur in many domains, from the stock market, to the runway, to the laboratories of science. Here we seek to understand how psychological and social processes lead representations (i.e., expectations) of value to becom...

Microloan markets allow individual borrowers to raise funding from multiple individual lenders. We use a unique panel dataset which tracks the funding dynamics of borrower listings on Prosper.com, the largest microloan market in the United States. We find evidence of rational herding among lenders. Well-funded borrower listings tend to attract more funding after we control for unobserved listin...

Several scientific disciplines are focused in the irrational behaviour of individuals. This predictably or systematic irrationality though violates the assumption of "maximising the expected utility", creates a new promising field of research and policy improvement. In this paper five dimensions in the distortion of preferences and decisions are reviewed, and some examples of policy initiatives...

Personal or P-drug selection teaches students to use impartial, objective information to make prescribing decisions. It is an important exercise recommended to reduce irrational prescribing and improve the prescribing behaviour of healthcare professionals. The exercise of P-drug selection has not been widely implemented in health professions schools in South Asia. This article describes the aut...