09:17 pm: отклонения от рационального поведения
Я задолбался, буду вести некое подобие конспекта здесь. Это из курса по Model Thinking.
about rational behaviour model.
In general, people behave rational. Not all, but the mean line over distribution. But. A lots of observations shows that people often behave irrational, even on the mean line we see the biases. Proposal: model with fast and slow processes of thinking. Slow process is more rational, when fast produces evidence of biases.
Well-known biases:
* Prospect theory. It's all about gain/loss risk and diff between behaviour in these cases. People are more risk tolerant for risk of losses, and less for chances of gain.
* Hyperbolic Discount. Value in near/far future. Chocolate cake right in front of me when I want to be healthy and fit. Cigarette when I want to quit smoking. A loan with high percent in far, far away future.
* Status Quo Bias. Fear of changes. [] Check here to donate your organs (25%) [] Check here to NOT donate your organs (10%).
* Base Rate Bias. In random choice, pick up any number in near here.
Critics say it's WEIRD (western educated industrialized rich developeth) countries. Other cultures can have different biases. Also, people tend to learn (the question is, how strong are these biases to repeat iteration, and do they go away?)
Let's dig deep into prospect theory.
First, a 'gain' case. Two options:
A: I'll give you $400 for sure, or
B: $1000 with 50% chance (say, flip a coin)
Most people choose A, but not all.
Ok, change it a bit.
A: $400'000'000 for sure, or
B: $1'000'000'000 with a 50% probability.
Almost everyone chooses A.
What it tells us is when amount get larger, people tend to be what we call risk adverse. But again, in gains only.
Next, a 'loss' case. Again two options:
A: -$400 right now.
B: -$1000 with a 50% chance.
Most people choose B.
The people more risk loving over losses.
This is not rational, and this is systematic deviation which explains why people gambles.
Tags: коньспект