Cognitive abilities and portfolio choice

We study the relation between cognitive abilities and stockholding using the recent Survey of Health, Ageing and Retirement in Europe (SHARE), which has detailed data on wealth and portfolio composition of individuals aged 50+ in 11 European countries and three indicators of cognitive abilities: mathematical, verbal fluency, and recall skills. We find that the propensity to invest in stocks is strongly associated with cognitive abilities, for both direct stock market participation and indirect participation through mutual funds and retirement accounts. Since the decision to invest in less information-intensive assets (such as bonds) is less strongly related to cognitive abilities, we conclude that the association between cognitive abilities and stockholding is driven by information constraints, rather than by features of preferences or psychological traits

Darwin's Rainbow: Evolutionary radiation and the spectrum of consciousness

Evolution is littered with paraphyletic convergences: many roads lead to functional Romes. We propose here another example - an equivalence class structure factoring the broad realm of possible realizations of the Baars Global Workspace consciousness model. The construction suggests many different physiological systems can support rapidly shifting, sometimes highly tunable, temporary assemblages of interacting unconscious cognitive modules. The discovery implies various animal taxa exhibiting behaviors we broadly recognize as conscious are, in fact, simply expressing different forms of the same underlying phenomenon. Mathematically, we find much slower, and even multiple simultaneous, versions of the basic structure can operate over very long timescales, a kind of paraconsciousness often ascribed to group phenomena. The variety of possibilities, a veritable rainbow, suggests minds today may be only a small surviving fraction of ancient evolutionary radiations - bush phylogenies of consciousness and paraconsciousness. Under this scenario, the resulting diversity was subsequently pruned by selection and chance extinction. Though few traces of the radiation may be found in the direct fossil record, exaptations and vestiges are scattered across the living mind. Humans, for instance, display an uncommonly profound synergism between individual consciousness and their embedding cultural heritages, enabling efficient Lamarkian adaptation

Beyond the quantum formalism: consequences of a neural-oscillator model to quantum cognition

In this paper we present a neural oscillator model of stimulus response theory that exhibits quantum-like behavior. We then show that without adding any additional assumptions, a quantum model constructed to fit observable pairwise correlations has no predictive power over the unknown triple moment, obtainable through the activation of multiple oscillators. We compare this with the results obtained in de Barros (2013), where a criteria of rationality gives optimal ranges for the triple moment.Comment: 4 pages; to appear in the Advances in Cognitive Neurodynamics, Proceedings of the 4th International Conference on Cognitive Neurodynamics - 201

The Misprediction of emotions in Track Athletics.: Is experience the teacher of all things?

People commonly overestimate the intensity of their emotions toward future events. In other words, they display an impact bias. This research addresses the question whether people learn from their experiences and correct for the impact bias. We hypothesize that athletes display an impact bias and, counterintuitively, that increased experience with an event increases this impact bias. A field study in the context of competitive track athletics supported our hypotheses by showing that athletes clearly overestimated their emotions toward the outcome of a track event and that this impact bias was more pronounced for negative events than for positive events. Moreover, with increased athletic experience this impact bias became larger. This effect could not be explained by athletes’ forecasted emotions, but it could be explained by the emotions they actually felt following the race. The more experience athletes had with athletics, the less they felt negative emotions after unsuccessful goal attainment. These findings are discussed in relation to possible underlying emotion regulation processes

Neural implementation of psychological spaces

Psychological spaces give natural framework for construction of mental representations. Neural model of psychological spaces provides a link between neuroscience and psychology. Categorization performed in high-dimensional spaces by dynamical associative memory models is approximated with low-dimensional feedforward neural models calculating probability density functions in psychological spaces. Applications to the human categorization experiments are discussed