1 / 16

Model Thinking

Model Thinking. Scott E Page. Behavioral Models. Observation Neurology. Behavioral Models. Examples. Prospect Theory Hyperbolic Discounting Status Quo Bias Base Rate Bias. Prospect Theory. A: $400 for sure B: $1000 50% $0 50%. Prospect Theory. A: -$400

anson
Download Presentation

Model Thinking

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Model Thinking Scott E Page

  2. Behavioral Models

  3. Observation Neurology Behavioral Models

  4. Examples • Prospect Theory • Hyperbolic Discounting • Status Quo Bias • Base Rate Bias

  5. Prospect Theory A: $400 for sure B: $1000 50% $0 50%

  6. Prospect Theory A: -$400 B: -$1000 50% $0 50%

  7. Hyperbolic Discounting Option A: $1000 today Option B: $1005 tomorrow

  8. Hyperbolic Discounting Option A: $1000 in a year Option B: $1005 in a year and a day

  9. www.freeimageslive.com

  10. Status Quo Bias Check box to contribute to pension fund Check box to NOT contribute to pension fund

  11. www.freeimageslive.com

  12. Base Rate Bias

  13. Lots of Biases • WEIRD • People Learn • Computationally difficult

  14. Model Thinking Scott E Page

More Related