Question for Eric Gold on "trust" as an intuition

On the first call we learned of a number of ways in which we are wired to make choices which might not be rational.  As Eric was conducting the repeated coin toss experiment on today’s call, the thought crossed my mind (perhaps because I could not observe the coin toss) that it might not be fair. This was more emotional that rational, but in this case, the instinct was right, as Eric admitted to contriving a sequence to make a teaching point. So my question is how skepticism affects our decision-making. Are we better decision makers when we question as many of the precepts as we can? And how do decision models accommodate risks that the system is rigged?

Patrick Toner

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1 Response to Question for Eric Gold on "trust" as an intuition

  1. June 24, 2008 at 08:46 AM says:

    <p>I think mostly we’re not better decision makers when we question everything. One of the problems is cognitive load, and anything we don’t need to attend to makes our decision making more manageable.</p><p>Eric</p>

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