POL2010_notes - The decision-making environment is also...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Public Policy 9/9 -Expected Value = Value • Probability - Rational Behavior: You would think that people would behave in order to maximize their expected value. -Actually seek to maximize utility- the whole bundle of things that give you happiness. - Voting -People act in a predictable way, but not always purely economically. -Behavioral Economics is a developing field. -Trying to maximize your chances of winning an election. -Trying to maximize your appeal to voters. -We don’t seek to maximize the parallels between our preferences and our candidates’ views (?) -Go to middle of candidate curve of opinion. -Candidates more to the left or right for primary elections. Then move back to the center for actual election. -Bounded Rationality- there are limits to how rational we are. -People are goal-oriented, but they often fail to behave as predicted because we have complex cognitive architectures. We’re complicated creatures.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: The decision-making environment is also complex and uncertain. There are a lot of competing factors when we are trying to make decisions. Largely shaped by the task environment. When we are highly attentive with high motivation toward a problem/decision, highly reasonable b/c the stakes are high. When attention is low, rely on experience- simpler and less rational approach. - Age we become most proficient at dealing with risk and uncertainty: around the age of college graduation, 22ish.-Evolutionarily- Take risk at the extreme. See shadow in the bush- run. Now expected to see the nuance. -Aspire to master what we know about how people think. o More interesting, more productive life about how we do and dont think.-Biggest difference between experts and novices in decision-making is in speed and confidence, not in the quality of the decision. o Mamograms, Phaesian ? Study,...
View Full Document

Page1 / 2

POL2010_notes - The decision-making environment is also...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online