Less Wrong is a community blog devoted to refining the art of human rationality. Please visit our About page for more information.

Khaled comments on Prospect Theory: A Framework for Understanding Cognitive Biases - Less Wrong

66 Post author: Yvain 10 July 2011 05:20AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (46)

You are viewing a single comment's thread.

Comment author: Khaled 09 July 2011 06:34:29PM 0 points [-]

I think the distinction between decisions (as an end result) and other brain processes can be useful in fields of behavioral economics and the like on the short term, as it reahes results quite fast. But the complexity of decisions makes me visit the examples of unifications in physics. Perhaps if all decisions (not only final output) are treated as the same phenomena, aspects like framing can be understood as altering sub decisions by using their constant value functions, leading to a different decision later in time (which just happens to be the output decision). The idea is perhaps understanding the building blocks of decisions (on a level smaller than final outputs and bigger than single nueron firings) can provide a better model for decision making