Nonlinear Biomedical Physics Blog

Econobiophysics, neuoromarketing, behavioral economics

The Game of Choosing – models and software developed to simulate selection or election processes – has a broad spectrum of applications to both biomedical systems and socio-economical systems; analogous to econophysics it may be called econobiophysics (Klonowski W, Pierzchalski M, Stepien P, and Stepien RA: Econobiophysics - game of choosing. Model of selection or election process with diverse accessible information. Nonlinear Biomedical Physics 2011, 5:7).

If a subject even has an initial slight preference towards a given object then these simulations demonstrate that, if information passed on by a direct or indirect object’s exposition (presentation of the object) exerts a favorable impact on the subject, it is enough to repeat the exposition again and again to cause the subject’s choice of this object, e.g., mating partner, car model, Member of Parliament etc. If information about the object passed on by an exposition exerts an adverse impact then the subject will not choose this object. Initial preferences may be reversed if the impact of subsequent expositions changes due to influences of the environment.

The Game of Choosing may influence current paradigms in neuromarketing (Sanfley AG et al.: The neural basis of economic decision – making in the ultimatum game. Science 2003, 300, 1755-1758) and in behavioral economics (Camerer CF, Loewenstein G, Rabin M (Eds.): Advances in Behavioral Economics, Princeton University Press, 2005) like nonlinear dynamics and chaos theory changed the paradigms of classical physics.

Posted by Wlodzimierz Klonowski at 11:12    Comments (0)