Flashcards

Example of Paradox

Ben Cheesman Decision Making English 9 cards

Cards in this deck (9)

1Tragedy of the commonsWhen and individual rational choices collides with the interests/needs of a larger community.
This leads to a depletion of resources against the long term interests of everyone
2Winners CurseDecision makers pay so much to win a competition that the overestimate the value of the prize.
3Prisoners Dilemawhen 2 people acting in their own self interests doesn't result in the best outcome for everyone.
An example is bonuses - what benefits the individual harms the company.
4The missing heroPeople don't intervene because there are so many people watching
5The Self-fulfilling ProphecyA prediction that creates the conditions of its own fulfilment
a rumour of fuel shortage can cause one
6Icarusstrengths can become weaknesses if taken to far.
risk taking becoming reckless
Being cautious means you wont change
7Vicious CircleIneffective actions reproduce on another to create a downwards spiral
8Virtuous CircleBeneficial actions reproduce on one another.
9Learn to think paradoxically-Think how decisions might play out in practise.
-more of a good thing is not always better
-Nothing goes on getting better forever.
-Use second order thinking.

Description: Decision Making Flashcards on Example of Paradox, created by Ben Cheesman on 14/01/2019.
Created by: Ben Cheesman
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