Monkey Business

Great article from the New York Times on what was learned from a study teaching capuchin monkeys to use money;

So, does Chen’s gambling experiment simply reveal the cognitive limitations of his small-brained subjects? Perhaps not. In similar experiments, it turns out that humans tend to make the same type of irrational decision at a nearly identical rate. Documenting this phenomenon, known as loss aversion, is what helped the psychologist Daniel Kahneman win a Nobel Prize in economics. The data generated by the capuchin monkeys, Chen says, ‘’make them statistically indistinguishable from most stock-market investors.’’

The full article is worth a read to discover the punch-line…