Question Set 10

  1. What do you know about cognitive biases and how do you think they impact our decision making? Give examples.
  2. We do not expect you to read the book on fast and slow thinking by Kahnemann (2011), although this would be very good for you. However, have a look at the summary at,_Fast_and_Slow. Then provide two examples of decisions based on fast and slow thinking and comment on the quality of the decisions made.
  3. Apply the Kahneman et al. (2011) methodology to reduce the impact of cognitive biases to a recommendation you have recently heard of, e.g. related to the discussions on climate change, terrorism, or the discussion on health insurance in the U.S.
  4. GRAD: Based on Glantz and Kelman (2013), explain the difference between “Decision making under uncertainty” and “Decision making under Foreseeability.” Make sure that you properly distinguish between uncertainty and foresight.

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Please, submit the answers by e-mail to the two instructors. Note that your answers to the questions should be concise and in a scientific writing style. Please, include your name at the top and the questions before each answer. The answers have to cite the sources consulted in writing the answer and a list of references. Citations and Reference have to follow the documentation style defined by the Council of Scientific Editors, known as the CSE style. See SSF-Guide or the WISC page for more information on the CSE style. Examples of correct references can be found here.

Questions marked with "GRAD" are to be answered only by students in the 500-level class.