Does Logically Incoherent Decision-Making Really Have Negative Consequences?.

Format:

Video

Series:

Academic Video Online

Language:

English

Physical Description:

1 online resource (14 minutes)

Place of Publication:

[Place of publication not identified] : Latest Thinking, [date of publication not identified]

System Details:

video file

Summary:

As explained in this video it is commonly assumed that logically incoherent decision-making is irrational and costly in that it can lead e.g. to a decrease in happiness or health. An example for this would be a patient reacting differently if doctors speak of a 90% success rate of a surgery instead of a 10% failure rate for the same procedure. The purpose of the study presented here was to examine if there is proof in the existing literature that incoherent decision-making actually has negative consequences and is rightly seen as irrational. According to GERD GIGERENZER the findings suggest that the above mentioned assumption is not correct and that rationality needs to be re-defined in moving away from being based on strictly mathematical probabilities to taking context into account.

Notes:

Title from resource description page (viewed August 24, 2020).