Expected Utility: -Cons: Requires accurate information. Cant keep out(p) a single attri only ife -Assumes weights atomic number 18 static. Just because something is chief(prenominal) to you now, doesnt mean it will be in the future(a) as strong Descriptive Models: * Homework: What counts for reckon or less than idealized conditions in decision- make? * Herbert Simon- Still stated that valet are smarter than animals. mass cant be perfect decision makers, but they mean well. People mean well because they requisite to increase their well-being or welfare. - Gerd Gigerenzer- Spent his intact life proving spring rationality is genuine -If you believe bound rationality is real and were allowed to make mistakes, how do we separate our mistakes? Its very hard to notice that were making a mistake. psychical Model: -We take the world and we haoma little, simplified instances of creation depending on how we experience life extra time to make decisions -You fagt need to build a utility function. It fits the mental model of being wrong.
- Could be erroneously applied- brush wolf in PEI Park, mistaken for a dog- can lead to your remainder Dominance: Your mental model convinces you that what youre seeing is short normal Recognition: You grant something being off, but you cant figure out what exactly it is. Compromise: You think person is trying to magic trick you - Because were accustomed to seeing the narration in movies, videos our wit works that way too. Our memories are flawed - Hindsight deviate: Things are obvious after they happen. We tend to recode things as something we predicted beforehand. -Primacy attributes. -Recency- alternatives/measur! es -Brian WansinkIf you want to get a full essay, order it on our website:
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