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Decision Science

Published on Sep 06, 2016

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PRESENTATION OUTLINE

Decision Science

Fady M. Morcos

Pandemic

Which of the two programs would you choose?

THE ECONOMIST

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space mission design

Astrodynamics

Management Consulting

Photo by Nik MacMillan

learning and teaching

innovation

intuition

Photo by rawpixel

it is not rocket science!

Photo by NASA

QUESTION?

WHY ARE WE NOT TACKLING HUMAN BEHAVIOR PROBLEMS THE SAME WAY WE TACKLE ROCKET SCIENCE?
Photo by Rick Tap

human behavior

STUDENT LEARNING

human behavior

  • Amount of time spent studying
  • Paying close attention to the matter at hand
  • The intention or desire to learn
  • Learning in a way that matches your learning style
  • What you think about while studying

Prediction

PEOPLE on my right WILL recall MORE WORDS THAN PEOPLE on my left

ENCODING FAILURE

WE DON'T ENCODE THINGS WE DO NOT CARE ABOUT

SCIENCE SUCCEEDS WHEN INTUITION FAILS

- RETRIEVAL CUES, MANTYLA, T. 1986 -

Thinking Skills

that takes a conscious effort
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Lower Skills

Remembering, Understanding and Applying
Photo by pazavi

Higher Skills

Analysis, Evaluation, Problem SOlving & Decision Making
Photo by AvidlyAbide

Reflective Thinking

Critical THinking - Problem Solving - Decision Making
Photo by edmenendez

Insight Learning

Wolfgang Kohler 1917
Photo by Dell's Pics

Reasoning

No evidence they can draw conclusions based on observations, Wolfgang Kohler 1917
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Reasoning

Most closely associated with human advancement
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Cogito, ergo sum

je pense, donc je suis - René Descartes
Photo by NZR

BUT WHAT IF WE ARE NOTHING MORE THAN THE COLLECTIVE SUM OF NAIVE IRRATIONAL DECISIONS

Metacognition

thinking about your thinking
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A ball & A Racket

A BALL AND A RACKET COST 11 LE. THE RACKET COSTS 10 LE MORE THAN THE BALL.
Photo by Ding Zhou

how many animals did moses take into the arc?

Photo by blondinrikard

lily pads

In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake?

Widget machine

If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets?
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System 1 - System 2

DANIEL KAHNEMAN
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what is 2+2?

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what is 213*47?

Law of least effort

ECONOMY OF ACTION
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Untitled Slide

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alternatives?

Photo by Nathan Dumlao

Stroop's experiment

conflict

between automatic reaction and intention to control
Photo by Richard Lee

conflict

between automatic reaction and intention to control

blind to our own blindness

Photo by Ryoji Iwata

cognitive currency

Photo by Great Beyond

ego depletion

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control

Photo by Leo Reynolds

self control

Intelligence - attention - Drug Use - emotions

intuition

Photo by Jp Valery

S _ _ P

-                                     -
Photo by Thomas Hawk

S _ _ P

-                                      -
Photo by @Doug88888

PRIMING

-                         CAR Accident                         -
Hit vs. Smash (34 vs. 41 mph)
Broken Glass (14% vs. 32%) hit vs. smash

Framing

-                         Life Insurance                         -
How much would you pay for a life insurance that pays $X in the event of death?

How much would you pay for a life insurance that pays $X in the event of death in a terrorist attack?

PROBABILITY

Pandemic

Which of the two programs would you choose?

PROGRAM A

  • Group 1
  • If Program A is adopted, 200 people will be saved.
  • ----------------------------------------------------
  • Group 2
  • If Program A is adopted, 400 people will die.
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PROGRAM B

  • Group 1
  • If Program B is adopted, there is a one-third probability that 600 people will be saved and a two-thirds probability that no one will be saved.
  • ------------------------------------------------------
  • Group 2
  • If Program B is adopted, there is a one-third probability that nobody will die and a two-thirds probability that 600 people will die.
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Sarah has two children, at least one of them is a boy

What is the probability that both children are boys?
Photo by Marion Doss

Sarah has two children. The older child is a girl.

WHAT IS THE PROBABILITY THAT BOTH CHILDREN ARE GIRLS?
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is the number of Asia-pacific Nations among UN members larger or smaller than ___?

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What is your best guess of the number of Asia-pacific nations in the UN?

Was Gandhi older or younger than _____ years old when he died?

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how old was gandhi when he died?

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limit of 12 cans per person

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20LE for 1 - 35LE for 2

Photo by Coleen Rivas

JUMPING TO CONCLUSION

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first impression

grading student exams
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HALO

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LINDA

Photo by Mama Marcia

Representativeness bias

Photo by Craig Cooper

Forecasting Sales

Photo by Thomas8047

Sports Illustrated

Photo by Braden Collum

can you estimate adam's gpa?

Taming Our Intuition

Photo by Jin Lim

THE ECONOMIST

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GOAL: Improve confidence in reasoning

Advancing from what we already know to new knowledge and understanding
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Thank You