The erotics of investing

When young men were shown erotic pictures, they were more likely to make a larger financial gamble than if they were shown a picture of something scary, such as a snake, or something neutral, such as a stapler, university researchers reported.

The arousing pictures lit up the same part of the brain that lights up when financial risks are taken.

...The study conforms with recent research that indicates men shown a pornographic movie were more likely to make riskier sexual decisions. Another suggests straight men think less about their financial future after being shown pictures of pretty women.

Here is more.  One question -- and perhaps a more direct test of the hypothesis -- is whether traders in more sexually integrated firms do in fact behave differently.  Or how about companies located next to modeling agencies?  I suspect in real social settings the effect washes out, for reasons identified by Freud (among others) some time ago.  The more literally minded among us might also question whether a stapler is in fact a neutral image.  It isn't for me.

Jeff Sachs on biodiversity

His new book Common Wealth devotes an entire chapter to this important topic.  Sachs writes:

The main lesson of ecology is the interconnectedness of the various parts of an ecosystem and the dangers of abrupt, nonlinear, and even catastrophic changes caused by modest forcings...It is a basic finding that biological diversity increases the productivity and resilience of ecosystems.  With more species filling more niches in a given location, a biodiverse ecosystem is better buffered against external shocks in is more adept at cycling nutrients, capturing solar radiation, utilizing water resources, and preventing the takeover of the system by single predators, weeds, or pathogens.  In other words, preserving biodiversity helps to preserve all aspects of ecosystem functions.  Removing one or more species from an ecosystem, for example, by selective harvesting of trees or fish or hunted animals, can lead to a cascade of ecological changes with large, adverse, and nonlinear effects on the functioning of the ecosystem.

Now, loyal MR readers may remember that I am genuinely uncertain how much we should worry about the loss of biodiversity.  I do know the following:

1. Many smart people who know much more science than I do are very worried about the loss of biodiversity.

2. Given that the human population has ballooned for the foreseeable future, massive losses in biodiversity are inevitable.  The question is how bad the marginal losses will be, if we do not adapt policy accordingly.

3. If I had to conduct a debate and argue that the marginal loss of biodiversity was going to be a tragedy for human beings (obviously, I can see the loss to animals, and yes I do count that for something), I would not do very well.  Yes Yana's children won't eat tuna and then I would sputter something about carbon and nitrogen cycles.

So OK readers, help me out.  I've read Sachs's passage and I don't think I disagree with any of the claims in it.  But I still cannot articulate to a skeptic exactly what marginal disaster will come if we do not take drastic action to preserve biodiversity.

Please use the comments to set me straight.  What exactly will go wrong?  And do not compare seven billion humans to pristine nature.  Compare seven billion humans with bad biodiversity policy to, say, five billion humans with a pretty good biodiversity policy.  What exactly is the difference?  What are these costs as a percentage of gdp? 

Please be as specific as possible; I genuinely would like to learn more.

Car patrol vs. foot patrol

Car patrol eliminated the neighborhood police officer.  Police were pulled off neighborhood beats to fill cars.  But motorized patrol -- the cornerstone of urban policing -- has no effect on crime rates, victimization, or public satisfaction.  Lawrence Sherman was an early critic of telephone dispatch and motorized patrol, noted, "The rise of telephone dispatch transformed both the method and purpose of patrol.  Instead of watching to prevent crime, motorized police patrol became a process of merely waiting to respond to crime."

That is from Peter Moskos's Cop in the Hood: My Year Policing Baltimore's Eastern District; here is my previous post on the book.

Why economics was late in starting

I've already posed the question, I'd like to add two points.  First, sustained economic growth in the Western world starts in 17th century England, as shown by Greg Clark.  Interest in economic reasoning then comes rapidly, first from the mercantilists, then in Adam Smith and some earlier free trade thinkers, such as Dudley North and Nicholas Barbon.

Second, the idea of "private vices, publick virtues" was central for eighteenth century economic thought and for social science more generally.  This came from Bernard Mandeville (drawing upon the French Jansenists) in 1720.  It's no accident that Mandeville lived in the Dutch Republic, which had very little censorship.  No, I am not a Straussian but the merits of that viewpoint are often overlooked.

The School of Salamanca had an excellent marginal utility theory in 17th century Spain, the framework simply did not go anywhere.  For that matter we can look later and see that Samuel Bailey, Mountifort Longfield (1834), and others had critical components of Marshall.  But no one really cared because they could not yet see how important those contributions would turn out to be.  This is a central theme in why the growth of economic thought took so long.

It also suggests that today we might have some very important ideas amongst us, we simply cannot yet see how fruitful they will be.  Their own proponents may not even know it.

Vote Match - They Are Thinking What You Are Thinking

Ever wondered which of the London Mayoral candidates you have most in common with?

Now, if you need someone to tell you how you might vote, you can take the test here.

Apparently if I did have a vote (which I don't), then I would vote for Ken Livingstone (which I can't), but if I did (which I won't), that is something I knew already.

As I say, brilliant invention.
-
(Photo Source: Ruddyell and G-Man, http://commons.wikimedia.org/wiki/Image:Kenlivingstone.JPG)

Online Recruitment Dips in March, According to the Monster Employment Index UK

— Online Hiring Falls Slightly Following Record Growth in February — — HR Sector Hit Hardest — Online recruitment activity in the UK eased slightly in March as the Monster Employment Index dropped by 5 points, following record growth in February. The Monster Employment Index UK is a monthly analysis of millions of online job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster.co.uk. The Index fell to a level of 187 points in March, partly due to a significant drop in online job availability in the HR sector. The Index also showed a notable decrease in demand for craft and related workers. Overall, the Index is up 37 points, or 25 percent, compared to March 2007. "Despite the slight dip in March, the first quarter of 2008 brought strong growth in online job demand," said Hugo Sellert, Head of Economic Research, Monster Worldwide. "The labour market remains tight as employers continue to try and fill vacancies. The financial sector shows fewer opportunities than last year amid continued turmoil in the banking sector, but prospects for growth across most other UK industries still appear favourable." Monster Employment Index UK results over the past 13 months are as follows: Mar08 Feb08 Jan08 Dec07 Nov07 Oct07 Sept07 187 192 160 174 169 160 162 Aug07 Jul07 Jun07 May07 Apr07 Mar07 167 165 170 162 141 150 Notable Decline in HR Hiring in March There was a significant decrease in online job demand in the HR sector, led by a decline in opportunities for professionals. Growth dipped across most regions in the UK, with London registering the sharpest fall following two months of continued growth. The South East and South West fell after one and two months of growth respectively, while hiring in Northern Ireland remained stable. Year-on-year increase was 4 points, or 2% Opportunities in the healthcare, social work sector decreased notably in March, following strong growth in February. This dip reflects reduced hiring for both technicians and associate professionals; and professionals. By contrast, demand grew for service workers and shop and market sales workers within this sector for the second month in a row. Regionally, the South West registered the biggest decline, while there was an upturn of opportunities in Northern Ireland. Job availability in the education, training and library sector also dipped, reversing the upward trend in February. A slowing of vacancies was seen among professionals, which saw strong growth in February. Regionally, East Anglia, London and the South East saw the sharpest declines; while the Midlands and Wales each saw increases for the second consecutive month. Contrastingly, the legal sector saw a considerable rise in online job demand, increasing by 38 Index points after two months of decline. Professionals experienced the highest demand in the sector. The South East showed the highest rate of increase, following two months of decline. London also registered a significant increase in opportunities. Decreases in Online Demand for Craft and Related Workers; and Clerks in March Online job availability for craft and related workers fell by 15 Index points in March, reversing two consecutive months of growth. Sharp declines were seen in the construction and extraction; and production, manufacturing, maintenance, repair sectors. Online hiring dipped in most of the regions, with the Midlands showing the sharpest decline. There was a slight increase in Northern Ireland for the second month in a row. Hiring of clerks also went down in March, following an increase in February. The sharpest dip was in the administrative, organisation; and the sales sectors. An upturn was registered in the public sector, defence, community; and transport, post and logistics sectors for the second consecutive month. Online recruitment fell across the UK, with Scotland showing the deepest decline. Job availability also dipped considerably in North England and the South West. In contrast, there was a rise in demand for legislators, senior officials and managers in March, for the second month in a row. Regionally, Scotland and Northern Ireland showed the highest demand. Year-on-year growth was 47 points, or 39 percent. Online Recruitment Dips in the Majority of UK Regions There was a downturn in online hiring across most regions in the UK in March. The most significant fall was in the Midlands, led by a sharp decline in the management and consulting sector. Job availability in the region also dipped in IT, after five months of continued increase. By contrast, the legal sector saw a recovery after two months of decline. North England decreased as well, despite a high rate of increase in the environment, architecture and urbanism sector for the second consecutive month. Among occupational groups, job availability went down for plant and machine operators and assemblers; and clerks. There was also a sizeable dip in East Anglia in March, led by falls in demand in the administrative, organisation; healthcare, social work; and IT sectors. Online hiring increased markedly in Scotland for the second successive month. The highest growth in hiring was in the engineering sector, as it was in February. Meanwhile, demand in the construction and extraction industry grew for the fourth straight month. Year-on-year growth was 56 points, or 40 percent. Monster Employment Index UK data for April will be released on May 13, 2008. About The Monster Employment Index UK Providing a broad, comprehensive monthly analysis of online job demand, the Monster Employment Index UK is an extension of the Monster Employment Index Europe, which is compiled each month by researchers at Monster Worldwide Europe. Launched in June 2005, the Monster Employment Index Europe provides monthly insight into recruitment trends across the European Union. The Index report is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards across Europe, including Monster®. The Index is audited by Research America, Inc. and provides analyses of online job demand within occupational categories, industry sectors and regions. Monthly Index reports for Belgium, France, Germany, Italy, the Netherlands, Sweden, the United Kingdom and Europe are available at: http://corporate.monster.com/Press_Room/MEI_EU.asp.

Rapid Learning – Using the EHR to Make a Real Difference!

A really good piece of news and a demonstration of where the EHR can get us! Kaiser culls own data for insight By Helen Altonn haltonn@starbulletin.com Kaiser Permanente Hawaii is taking an unusual approach to improve care, reduce early deaths and lower costs for patients with cardiovascular disease. Instead of recruiting volunteers for an expensive study, it is using its electronic medical record system, KP HealthConnect, to examine heart disease prevention and management in about 150,000 adult isle patients. "What we're interested in learning is how electronic medical records improve care," Dr. Thomas M. Vogt, senior investigator at Kaiser Permanente's Center for Health Research in Honolulu and principal investigator for the two-year study, said in an interview. The center received $600,000 from the Agency for Healthcare Research and Quality to study prevention and management of heart disease and stroke and find ways to improve cardiovascular care nationwide. Kaiser...

This is the initial part of the post - read more by clicking on the title of the article. David.

Venezuelan TV drops Bart for 'Baywatch'

USA Today - Found 9 hours ago
CARACAS, Venezuela (AP) - D'oh! A Venezuelan TV channel has yanked The Simpsons off the air because it may be inappropriate for children. Taking its ...
Venezuela to Simpsons: Get Out, Gringos! - TMZ
Venezuela Beaches Homer for the Hoff - E! Online
Venezuela axes "The Simpsons" as bad for kids - Reuters South Africa
Explore All
Reuters UK

Flickr purists gripe about video expansion

CNET News.com - Found 4 hours ago
Shortly after , a number of users are up in arms. The No Video on Flickr amassed more than 4,000 members just a few hours after the new feature ...
Flickr Adds Video Capabilities to Service - Slashdot
At last, Flickr adds support for video - ZDNet
Yahoo extends Flickr with video - CNET News.com
Explore All
Tech.co.uk

Details trickle out on Nokia's answer to iPhone

CNET News.com - Found 5 hours ago
This is Nokia's answer to the iPhone, and it's expected later this year.(Credit: Symbian-Freak.com) More details about Nokia's upcoming Tube phone ...
Nokia to Pay $314 Million to Close German Plant - New York Times
Nokia shows off 'Tube' iPhone-lookalike - CNET News.com
Nokia and Universities to Research Pervasive Communications - New York Times
Explore All
Tech.co.uk

Web Geekery in Recent Literature: 4/3/08

J Am Coll Radiol. 2008 Apr;5(4):593-7.
Quality of CT colonography-related web sites for consumers.
Sheran J, Dachman AH.

Department of Radiology, University of Chicago Hospitals, Chicago, Illinois 60637, USA.

PURPOSE: Patients often request to undergo computed tomographic colonography (CTC) from radiologists or referring physicians on the basis of their personal examination of information on the Web. Therefore, the authors examined the information on CTC and virtual colonoscopy available for consumers on the Web to assess its quality. MATERIALS AND METHODS: The term virtual colonoscopy was entered into 3 popular search engines: Google, Yahoo, and MSN. In each case, evaluation was limited to the first 50 Web sites, or hits, which were recorded and analyzed for content, comprehensiveness, and accuracy. RESULTS: Sixty-seven Web sites were deemed appropriate for further analysis. More than half of the sites reported currency dates more than 2 years old. Only a third of the sites included information about the risk factors for colorectal cancer. About a third of the sites did not explain the indications for the use of CTC, and the remaining sites lacked consistent descriptions of the indications. Few Web sites offered or described the option of performing same-day optical colonoscopy for patients with abnormal results on CTC. CONCLUSION: The data suggest that patients are often armed with very incomplete information from Web sites on CTC. Web sites were often found to be outdated, to contain conflicting information, and were lacking descriptions of patient risk factors for colorectal cancer. Several suggestions are made to improve the dissemination of comprehensive, current, and accurate information.

PMID: 18359448

_____________________________

Hum Reprod. 2008 Mar 27 [Epub ahead of print]
Infertility information on the World Wide Web: a cross-sectional survey of quality of infertility information on the internet in the UK.
Marriott JV, Stec P, El-Toukhy T, Khalaf Y, Braude P, Coomarasamy A.

Assisted Conception Unit, Guy’s and St. Thomas’ Hospital NHS Foundation Trust, Thomas Guy House, Guys Hospital, 4th Floor, London SE1 9RT, UK.

BACKGROUND The internet is a frequently used source of information for infertile couples. Previous studies suggested that the quality of health information on the internet is poor. The aim of this study was to assess the quality of websites providing information on infertility and its management in the UK. Differences between website types and affiliations were assessed. METHODS A Google search for the keyword ‘infertility’ was performed and 107 relevant websites were identified and categorized by type. Websites were assessed for credibility, accuracy and ease of navigation using predefined criteria. RESULTS The total scores for all types of websites were low, particularly in the accuracy category. Websites affiliated to the UK National Health Service (NHS) scored higher than those affiliated to private fertility clinics and other clinics providing non-conventional fertility treatment. Specifically, NHS websites were more likely to report success rates (92.9% versus 60% and 0%, P PMID: 18372253

_____________________________

Am J Pharm Educ. 2008 Feb 15;72(1):10.
Online social networking issues within academia and pharmacy education. [Free full text]
Cain J.

University of Kentucky College of Pharmacy, USA.

Online social networking sites such as Facebook and MySpace are extremely popular as indicated by the numbers of members and visits to the sites. They allow students to connect with users with similar interests, build and maintain relationships with friends, and feel more connected with their campus. The foremost criticisms of online social networking are that students may open themselves to public scrutiny of their online personas and risk physical safety by revealing excessive personal information. This review outlines issues of online social networking in higher education by drawing upon articles in both the lay press and academic publications. New points for pharmacy educators to consider include the possible emergence of an “e-professionalism” concept; legal and ethical implications of using online postings in admission, discipline, and student safety decisions; how online personas may blend into professional life; and the responsibility for educating students about the risks of online social networking.

PMID: 18322572

_____________________________

Catheter Cardiovasc Interv. 2008 Feb 15;71(3):441-4.
SCAI launches seconds-count.org: An interventional cardiology resource for patients and physicians.
Weiner BH, Marshall JJ.

St Vincent Hospital at Worcester Medical Center, Worcester, MA 01608, USA. president@scai.org

PMID: 18288740

[Okay, not a lot in the abstract, but check out the site.]

JANE, eTBLAST, and Whatizit

When I posted in February about JANE, I should also have mentioned eTBLAST(previously mentioned here):

Our service is very different from PubMed. While PubMed searches for “keywords”, our search engine lets you input an entire paragraph and returns MEDLINE abstracts that are similar to it. This is something like PubMed’s “Related Articles” feature, only better because it runs on your unique set of interests. For example, input the abstract of an unpublished paper or a grant proposal into our engine, and with the touch of a button you’ll be able to find every abstract in MEDLINE dealing with your topic. No more guessing whether your set of keywords has found all the right papers. No more sorting through hundreds of papers you don’t care about to find the handful you were looking for–our search engine does it for you.

I also recently stumbled across Whatizit:

Whatizit is a text processing system that allows you to do textmining tasks on text. The tasks come defined by the pipelines in the drop down list of the above window and the text can be pasted in the text area. The description of each individual task/pipeline can be found following the link next to the submit button. Whatizit is also a Medline abstracts retrieval/search engine. Instead of providing the text by Copy&Paste, you can launch a Medline search. The abstracts that match your search critetia are retrieved and processed by a pipeline of your choice.

Fetal Cells Transplanted into the Brain to Treat Parkinson’s Disease May Not Function Long Term

 Fetal Cells Transplanted into the Brain to Treat Parkinson’s Disease May Not Function Long TermRush University Medical Center -Newswise Science News, (06 Apr 2008)"Neurons grafted into the brain of a patient with Parkinson’s disease fourteen years ago have developed Lewy body pathology, the defining pathology for the disease, according to research by Jeffrey H. Kordower, PhD, and associates and published in the April 6 issue of Nature Medicine. "..."“These findings give us a bit of pause for the value of cell replacement strategy for Parkinson’s disease,” said Kordower. “We still need to vigorously investigate this approach among the full armament of surgically-delivered Parkinson’s disease therapies. While it is not clear to us whether the same fate would befall stem cell grafts, the next generation of cell replacement procedures, this study does suggest that grafted cells can be affected by the disease process.”"..."The collaborative research study described in the article involves Rush, Mt. Sinai School of Medicine, New York, and the University of South Florida, Tampa, In it, individuals with Parkinson’s disease received fetal cell transplants to reverse the loss in the brain of striatal dopamine"...Posted by msredsonyas to Cognitive Sciences-Neuro-Philosophy-Psychiatry-Psychology NeuroChemical or Synaptic Signaling Stem Cell Lines-ES-HES Efficacy and or safety studies Medical Sciences on Mon Apr 07 2008 at 04:22 UTC | info | related