Book Sharing - Predictably Irrational

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PREDICTABLY IRRATIONAL Andy Ng 17 July 2015

Transcript of Book Sharing - Predictably Irrational

Page 1: Book Sharing - Predictably Irrational

PREDICTABLY IRRATIONAL

Andy Ng17 July 2015

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The good nurse

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Decision-making illusions

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Conclusion: We make more mistakes in making decisions than vision

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• Organ donation story• We are governed by

default choices• Story about doctors• The decoy theory• The ugly Tom & Jerry

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Conflict of interest – why we are blinded by self-incentives

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Cheating

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• A lot of people cheat a little

• If reminded of morality?

• Many steps removed from subject?

• Social norm?

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Why people work hard

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• The Lego experiment• We tend to

underestimate meaning

• Ignore = crush• Acknowledging work is

easy• Ikea – cake mixer story• Efficiency vs. meaning

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CONCLUSION:

• Irrational because proving ourselves wrong is too difficult

• Irrational about how we make decisions

• Irrational because of self-incentives

• Irrational about why people cheat

• Irrational about why people work hard