NFS 244 Lecture Notes - Lecture 17: Ego Depletion, Predictably Irrational, Bounded Rationality
17 Aug 2020
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Document Summary
Our environment and diet culture undermine many people. Climate of restriction couples with too many tempting things to resist. Change the environment, eject from diet culture. Behavioral economics- the study of irrational decision making. Attempts to integrate psychological theories (the motivation behind our choices) Standard economics make rational decisions to maximize happiness, have all needed information, market forces correct mistakes. Behavioral economics experience bounded rationality , impossible to have all needed information (have limited information-processing abilities anyway), make repeated systematic decision errors (predictably irrational decisions). Often make decision errors because we rely on heuristics. We do what we normally do or always do. We try to avoid experiencing certain emotions. We"re very sensitive to improving our present well being. By recognizing heuristical thinking, we can propose solutions that might actually work. Make the healthy choice the easy choice. Anchors include: previous knowledge, habits, context, framing, social norms. Health messages can be negatively or positively framed.
