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One piece of classical research of the 1950s revolved around a group of pigeons who quickly learnt that they could earn a reward of birdseed if they kept pecking on a feeding bar. When the birdseed is cut off, the pigeons will keep pecking the bar until realisation sinks in that no more reward is available. They will then abandon the process in a uniform manner.WUly! ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ ci'/Ko However, if random element is introduced, such that reward is forthcoming sometimes but not always, the pigeons encounter a mind-spinning quandary. The rewards are there, but they can¡¦t get their heads around how they can be consistently earned. The result in any number of experiments is that the pigeons keep returning to the bar over and over, even after the rewards have been terminated altogether. Eventually, they drop dead from exhaustion.9VF-W? ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ Eo|TW ¦pªG§A±N¥ÕÂF°ö¾i¦¨n«öÅKªO¤~¦³¹ª«±¼¸¨¹ª«½L¤§²ßºD,¥ÕÂF¾j®É´N·|«öÅKªO,¦p§é¥h«öÅKªO±¼¸¨¹ª«¤§¥\¯à,¥Î¥t¤@ºØ¹ª«®e¾¹ª`º¡¹ª«©ñ¦b¥t¤@³B,¥ÕÂF¾j®É¤´·|¥ý«öÅKªO¤~§ä¹ª«¦Y.³o¬O²ßºD¦æ¬°¤§°ö°V,¤ß²z¾Ç101ªì¯Z±`¤Þ¥Î.3X ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ v\ ¤W¤å^¤å¤å³¹¬O¤Þz¨ä¤¤¤@Ó¤Q¤À¦³½ìªºÅÜ«µ,³o¬O¦æ¬°¤ß²z¾Ç¤¤¤@Ó«D±`¹ê¥Î¦Ó¤S±`³Q怱²¤ªº¹êÅç³ø§i.Bd3[& ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ (HHn|{ ±N¥ÕÂF¤À¤G²Õ,±N¥ÕÂF°ö¾in«öÅKªO¨ú¹ª«¤§²ßºD«á,¨ú®øÅKªO¥\¯à,¦Aªø®É¶¡Æ[¹î¥ÕÂF¤§¤ÏÀ³.¥Ò²Õ¥ÕÂFªºÅKªO¬O¦³³W«ß¦a±¼¸¨¹ª«,¦p¨C«ö¤G¦¸¤~±¼¤U¹ª«.¥t¤@¤A²Õ¥ÕÂFªºÅKªO¬O¤£³W«ß¦aÀH¾÷¦a±¼¸¨¹ª«,¦p¨C¦¸n«ö¤£¦P¦¸¼Æ¤~±¼¤U¹ª«.µ²ªG¬O¦b¤@¬qªø®É¶¡«á,¥Ò²Õ·|µoıÅKªOÃa¤F,¤£¦A«öÅKªO,¥hª½±µ¥h§ä¹ª«.¤A²Õ´N¾j¨ì¥Ö¶À°©Ý`³£¦b«öÅKªO.vf ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ c.( §Ú´¿Å¥»D¥t¤@¹êÅç³ø§i,¥D¨¤´«¤F¬O¦Ñ¹««öÅKªO§ä¹ª«.¤À¤F¦h²Õ,¤À§O¬O«ö¤@¦¸,¤G¦¸,¥|¦¸,¤K¦¸,©MÀH¾÷.«ö¤@¦¸¤@²Õ¥Î³Ìµu®É¶¡µo²{³QA¤F,«ö¤K¦¸¤@²Õ¥Î³Ìªø®É¶¡¤~µo²{³QA¤F,ÀH¾÷¤@²Õ¥þ¾j¦º©ó«öÅKªO³´°}¤¤.99r| ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ 9Q ³o¬Oªñ¦~ Behavioral Finance «H®{±`¤Þ¥Î¤§¤ß²z²{¶H.¦³¨ÇÃa²ß¬O§ï¤£¤F.¦p§A²Ä¤@¤G¦¸¶RªÑ,¾Ç¿ù§ë¸ê¤èªk,¶}©l®É¼²±m,¸g±`¦³¤£³W«ß¤§¦^³ø,¬O¦n¦ü¦n¦³®Ä,¤§«áµL¦^³ø»k¤F¤j¿ú,¤]°g³~¤£ªð.|=5t\ ©½t¥Í³N¼Æ¬ã¨sªÀ -- ³N¼Æ¬ã¨s¡@¡@ vb ,K ³o¤]¥i¤Þ¥Î¦b¾Ç²ß³N¼Æ, ³N¼Æ¬É¤¤¤@¼Ë¦Ì¾i¦Ê¼Ë¤H, ¦³¤@ºØ¤H¬O¯S§O¯S¥X, §A¥i±q¥L©Î¦o¤§¨¥½Í¤¤, ¤Q¤À¼ö·R³N¼Æ¬ã²ß, ªá¤F¤£¤Ö®É¶¡¬Ý®Ñ¡B¤W°ó¡B«ô®v, ¥i¥H¤Þ¸g¾Ú¨å½×»¡³N¼Æ²z½×, ¦Ó§å©RÁ`¬O¤£¤Ó·Ç, ¦ý¥Ñ©ó¤v§ë¸ê¤£¤Ö¤ß¦å¦b¤w¾Ç²ßªº¤@®M, Á`¬O°µ³Ì¤jÁn³Ìªø½g¤j½×ªº¤@¦ì, ¦ü¤£¦ü¾j¦º¤´«öÅKªOªº¦Ñ¹«?,|Qvv&
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