US and Europe risk double-dip recession, warns IMF. The International Monetary Fund warned on Tuesday that the United States and the eurozone risk being plunged back into recession unless policymakers tackle the problems facing the world's two biggest economic forces.
In its half-yearly health check, the Washington-based fund said the global economy was "in a dangerous place" and that its forecast of a slow, bumpy recovery would be jeopardised by a deepening of Europe's sovereign debt crisis or over-hasty attempts to rein in America's budget deficit. "Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing," the IMF said as it cut its global growth forecast for both 2011 and 2012.
The IMF also cut its growth forecasts for the UK economy and advised George Osborne to ease the pace of deficit reduction in the event of any further downturn in activity.
List of cognitive biases. Systematic patterns of deviation from norm or rationality in judgment Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment. They are often studied in psychology, sociology and behavioral economics.[1] Although the reality of most of these biases is confirmed by reproducible research,[2][3] there are often controversies about how to classify these biases or how to explain them.[4] Several theoretical causes are known for some cognitive biases, which provides a classification of biases by their common generative mechanism (such as noisy information-processing[5]).
Gerd Gigerenzer has criticized the framing of cognitive biases as errors in judgment, and favors interpreting them as arising from rational deviations from logical thought.[6] Explanations include information-processing rules (i.e., mental shortcuts), called heuristics, that the brain uses to produce decisions or judgments. Food Photography Myles New 07976609990.