Professor Weis-Amon described the advantages of using yeast in cancer research at a January 11 Spark Forum lecture. In the next 25 years, researchers would like to see a detailed molecular understanding of all proteins involved in the cell cycle, how the cycle is controlled by developmental signals, and assays for profiling individuals with increased susceptibility for certain types of cancer. No psychology applied. The 1950s and 1960s brought the theory of efficient markets and the practice of arbitrage. But psychology can dramatically affect how people behave in relation to financial markets, and it may help predict how markets will behave, Professor Mullainathan said.
People are remarkably overconfident.
They trust their own judgment way too much. They get overly excited about recent good performance. They have loss aversion and will even take risks to avoid selling. Not wanting to face the pain of realizing a loss, people hold onto losers too long and sell winners too quickly. Whatever you do, don't trade.