This preview shows pages 1–4. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: CLASS #13: EXPECTED VALUE MODELS II I Review A Desiderata 1 Explain, Predict, Understand 2 TheoryOriented, TheoryDirected 3 Use the Scientific Method a Observation b Hypothesis c Experiment d Law e Theory 4 Ask Nature is Hypothesis supported B Questions for Real World: 1 Should I believe in God? 2 Under what conditions with another State be deterred from attacking? 3 Under what conditions will I choose to attend class? 4 Under what conditions will I choose to buy a lottery ticket? 5 Should I vote? C Paradigm 1 What is it? a Framework b Set of assumptions c Set of instructions about how to answer important questions d Psychological 2 Rational Choice  Dominant Paradigm a Behavior is a result of choice b Focus on the individual as the basic unit of analysis D Theory Rational Choice 1 Identify Available Alternatives 2 Identify all possible Outcomes for each alternative 3 Attach Value to Outcomes 4 Quantify uncertainty E Model Premises of the Argument formalize the inference process 1 Ockhams Razor Try simplest first 2 Model Decision Tree a Alternatives b Outcomes are mutually exclusive and exhaustive c Attach Value to Outcomes using Utility d Quantify uncertainty (whenever an alternative has two or more outcomes) using probability F Utility 1 to evaluate outcomes it is often necessary to have the outcomes measured on some numerical scale or index...
View
Full
Document
This note was uploaded on 04/21/2008 for the course PLS 200 taught by Professor Idk during the Fall '08 term at Michigan State University.
 Fall '08
 idk

Click to edit the document details