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Author: Daron Acemoglu
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 55
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Book Description
This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic learning of the quality of a product and the speed of learning under different rating systems. A rating system provides information about reviews left by previous customers. A sequence of potential customers decide whether to join the platform. After joining and observing the ratings of the product, and conditional on her ex ante valuation, a customer decides whether to purchase or not. If she purchases, the true quality of the product, her ex ante valuation, an ex post idiosyncratic preference term and the price of the product determine her overall satisfaction. Given the rating system of the platform, she decides to leave a review as a function of her overall satisfaction. We study learning dynamics under two classes of rating systems: full history, where customers see the full history of reviews, and summary statistics, where the platform reports some summary statistics of past reviews. In both cases, learning dynamics are complicated by a selection effect -- the types of users who purchase the good and thus their overall satisfaction and reviews depend on the information that they have available at the time of their purchase. We provide conditions for asymptotic learning under both full history and summary statistics, and show how the selection effect becomes more difficult to correct for with summary statistics. Conditional on asymptotic learning, the speed (rate) of learning is always exponential and is governed by similar forces under both types of rating systems, though the exact rates differ. Using this characterization, we provide the rate of learning under several different types of rating systems. We show that providing more information does not always lead to faster learning, but strictly finer rating systems always do. We also illustrate how different rating systems, with the same distribution of preferences, can lead to very fast or very slow speeds of learning. Keywords: Bayesian learning, online reviews, recommendation systems, social learning, speed of learning. JEL classification: C72, D83, L15.
Author: Daron Acemoglu
Publisher:
ISBN:
Category : Consumer behavior
Languages : en
Pages : 55
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Book Description
This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic learning of the quality of a product and the speed of learning under different rating systems. A rating system provides information about reviews left by previous customers. A sequence of potential customers decide whether to join the platform. After joining and observing the ratings of the product, and conditional on her ex ante valuation, a customer decides whether to purchase or not. If she purchases, the true quality of the product, her ex ante valuation, an ex post idiosyncratic preference term and the price of the product determine her overall satisfaction. Given the rating system of the platform, she decides to leave a review as a function of her overall satisfaction. We study learning dynamics under two classes of rating systems: full history, where customers see the full history of reviews, and summary statistics, where the platform reports some summary statistics of past reviews. In both cases, learning dynamics are complicated by a selection effect -- the types of users who purchase the good and thus their overall satisfaction and reviews depend on the information that they have available at the time of their purchase. We provide conditions for asymptotic learning under both full history and summary statistics, and show how the selection effect becomes more difficult to correct for with summary statistics. Conditional on asymptotic learning, the speed (rate) of learning is always exponential and is governed by similar forces under both types of rating systems, though the exact rates differ. Using this characterization, we provide the rate of learning under several different types of rating systems. We show that providing more information does not always lead to faster learning, but strictly finer rating systems always do. We also illustrate how different rating systems, with the same distribution of preferences, can lead to very fast or very slow speeds of learning. Keywords: Bayesian learning, online reviews, recommendation systems, social learning, speed of learning. JEL classification: C72, D83, L15.
Author: Daniel Kahneman
Publisher: Farrar, Straus and Giroux
ISBN: 1429969350
Category : Psychology
Languages : en
Pages : 511
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Book Description
*Major New York Times Bestseller *More than 2.6 million copies sold *One of The New York Times Book Review's ten best books of the year *Selected by The Wall Street Journal as one of the best nonfiction books of the year *Presidential Medal of Freedom Recipient *Daniel Kahneman's work with Amos Tversky is the subject of Michael Lewis's best-selling The Undoing Project: A Friendship That Changed Our Minds In his mega bestseller, Thinking, Fast and Slow, Daniel Kahneman, world-famous psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Topping bestseller lists for almost ten years, Thinking, Fast and Slow is a contemporary classic, an essential book that has changed the lives of millions of readers.
Author: Gabriel Wyner
Publisher: Harmony
ISBN: 038534810X
Category : Foreign Language Study
Languages : en
Pages : 352
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Book Description
NATIONAL BESTSELLER • For anyone who wants to learn a foreign language, this is the method that will finally make the words stick. “A brilliant and thoroughly modern guide to learning new languages.”—Gary Marcus, cognitive psychologist and author of the New York Times bestseller Guitar Zero At thirty years old, Gabriel Wyner speaks six languages fluently. He didn’t learn them in school—who does? Rather, he learned them in the past few years, working on his own and practicing on the subway, using simple techniques and free online resources—and here he wants to show others what he’s discovered. Starting with pronunciation, you’ll learn how to rewire your ears and turn foreign sounds into familiar sounds. You’ll retrain your tongue to produce those sounds accurately, using tricks from opera singers and actors. Next, you’ll begin to tackle words, and connect sounds and spellings to imagery rather than translations, which will enable you to think in a foreign language. And with the help of sophisticated spaced-repetition techniques, you’ll be able to memorize hundreds of words a month in minutes every day. This is brain hacking at its most exciting, taking what we know about neuroscience and linguistics and using it to create the most efficient and enjoyable way to learn a foreign language in the spare minutes of your day.
Author: Jim Kwik
Publisher: Hay House, Inc
ISBN: 1401958230
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
Unlock the full potential of your brain, learn faster, and achieve your goals with this instant New York Times and #1 Wall Street Journal bestseller from Jim Kwik, the world’s #1 brain coach. This ultimate brain training book is packed with practical techniques to help you level-up your mental performance and transform your life. “There’s no genius pill, but Jim gives you the process for unlocking your best brain and brightest future. Just like you want a healthy body, you want a flexible, strong, energized, and fit brain. That’s what Jim does for a living—he is the personal trainer for the mind.” — Mark Hyman, M.D., Head of Strategy and Innovation, Cleveland Clinic Center for Functional Medicine, author of 12 New York Times best-selling books For over 25 years, Jim Kwik has worked closely with successful men and women who are at the top in their fields as actors, athletes, CEOs, and business leaders from all walks of life to unlock their true potential. In Limitless, he reveals the science-based practices and field-tested tips to accelerate self-learning, communication, memory, focus, recall, and speed reading, to create amazing results. Limitless is the ultimate transformation book and gives people the ability to accomplish more--more productivity, more transformation, more personal success and business achievement--by changing their Mindset, Motivation, and Methods. These “3 M’s” live in the pages of Limitless along with practical techniques that unlock the superpowers of your brain and change your habits. Learn how to: FLIP YOUR MINDSET Identify and challenge the assumptions, habits, and procrastinations that limit you and expand the boundaries of what you believe is possible. IGNITE YOUR MOTIVATION By uncovering your passions, purposes, and sources of energy, you can stay focused and clear on your goals. Uncovering what motivates you is the key that opens up limitless mental capacity. This is where Passion + Purpose + Energy meet to move you closer to your goals, while staying focused and clear. MASTER THE METHOD Accelerate learning, improve memory, and enhance brain performance Jim Kwik applies the latest neuroscience for accelerated learning, and will help you finish a book 3x faster through speed reading (and remember every part of it), learn a new language in record time, and master new skills with ease. “What you’ll get within these pages is a series of tools that will help you cast off your perceived restrictions. You’re going to learn how to unlimit your brain. You’re going to learn how to unlimit your drive. You’re going to learn how to unlimit your memory, your focus, and your habits. If I am your mentor in your hero’s journey, then this book is your map to master your mind, motivation, and methods to learn how to learn. And once you’ve done that, you will be limitless.” –Jim Kwik Packed with tips and techniques to improve memory, focus, recall, and speed reading, this brain training book is the perfect gift for anyone looking to transform their life."
Author: Shari Tishman
Publisher: Routledge
ISBN: 1315283794
Category : Education
Languages : en
Pages : 166
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Book Description
Slow Looking provides a robust argument for the importance of slow looking in learning environments both general and specialized, formal and informal, and its connection to major concepts in teaching, learning, and knowledge. A museum-originated practice increasingly seen as holding wide educational benefits, slow looking contends that patient, immersive attention to content can produce active cognitive opportunities for meaning-making and critical thinking that may not be possible though high-speed means of information delivery. Addressing the multi-disciplinary applications of this purposeful behavioral practice, this book draws examples from the visual arts, literature, science, and everyday life, using original, real-world scenarios to illustrate the complexities and rewards of slow looking.
Author: Thomas Pynchon
Publisher: Penguin
ISBN: 1101594616
Category : Fiction
Languages : en
Pages : 153
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Book Description
"An exhilarating spectacle of greatness discovering its powers." - New Republic "Funny and wise enough to charm the gravity from a rainbow...All five of the pieces have unusual narrative vigor and inventiveness." - New York Times Compiling five short stories originally written between 1959 and 1964, Slow Learner showcases Thomas Pynchon’s writing before the publication of his first novel V. The stories compiled here are “The Small Rain,” “Low-lands,” “Entropy,” “Under the Rose,” and “The Secret Integration,” along with an introduction by Pynchon himself that Time magazine calls his "first public gesture toward autobiography."
Author: Stanislas Dehaene
Publisher: Penguin
ISBN: 0525559906
Category : Science
Languages : en
Pages : 369
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Book Description
“There are words that are so familiar they obscure rather than illuminate the thing they mean, and ‘learning’ is such a word. It seems so ordinary, everyone does it. Actually it’s more of a black box, which Dehaene cracks open to reveal the awesome secrets within.”--The New York Times Book Review An illuminating dive into the latest science on our brain's remarkable learning abilities and the potential of the machines we program to imitate them The human brain is an extraordinary learning machine. Its ability to reprogram itself is unparalleled, and it remains the best source of inspiration for recent developments in artificial intelligence. But how do we learn? What innate biological foundations underlie our ability to acquire new information, and what principles modulate their efficiency? In How We Learn, Stanislas Dehaene finds the boundary of computer science, neurobiology, and cognitive psychology to explain how learning really works and how to make the best use of the brain’s learning algorithms in our schools and universities, as well as in everyday life and at any age.
Author: Duncan J. Watts
Publisher: Atlantic Books
ISBN: 0857895060
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
Why is the Mona Lisa the most famous painting in the world? Why did Facebook succeed when other social networking sites failed? Did the surge in Iraq really lead to less violence? And does higher pay incentivize people to work harder? If you think the answers to these questions are a matter of common sense, think again. As sociologist and network science pioneer Duncan Watts explains in this provocative book, the explanations that we give for the outcomes that we observe in life-explanations that seem obvious once we know the answer-are less useful than they seem. Watts shows how commonsense reasoning and history conspire to mislead us into thinking that we understand more about the world of human behavior than we do; and in turn, why attempts to predict, manage, or manipulate social and economic systems so often go awry. Only by understanding how and when common sense fails can we improve how we plan for the future, as well as understand the present-an argument that has important implications in politics, business, marketing, and even everyday life.
Author: Mark Bittman
Publisher: Houghton Mifflin Harcourt
ISBN: 0470936304
Category : Cooking
Languages : en
Pages : 1061
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Book Description
The secret to cooking fast is cooking smart--how you choose and prepare your ingredients and make use of your time in the kitchen. In How to Cook Everything Fast, Mark Bittman's latest innovative, comprehensive, must-have culinary reference, he shows how anyone can spend just a little time cooking and be able to make 2,000 innovative recipes that are delicious, varied, exciting, made from scratch, and ready in anywhere from 15 to 45 minutes.
Author: Brooke McAlary
Publisher: Apollo
ISBN: 1803284269
Category : Psychology
Languages : en
Pages : 0
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Book Description
How to harness the power of daily rituals to create a calmer, happier life. We live life in the fast lane. We are over-worked, over-connected and over-stressed, and we compete over how busy and important and sleep-deprived we are. But we don't have to. Brooke McAlary knows first-hand the power of simplifying and living with less. After being diagnosed with postnatal depression, she embraced a more intentional life. Then, when the Covid-19 pandemic hit, she had to review her everyday routines - and expectations. She looked for ways to adapt them to fit a life in lockdown, all the while protecting and prioritizing her health, energy and passion. In this fully revised edition of Destination Simple, with an entirely new introduction and updates throughout in light of the pandemic, Brooke shows us how to harness the power of daily rituals to change the flow of our busy lives and create lasting, positive change.
