Automatons
Automatons are decision-making algorithms expressed mathematically rather than in code. These automatons commit the same “mistakes” that humans do when making decisions. An automaton may exhibit a “primacy” effect, in which it tends to pick one of the first items on a list. An automaton may also exhibit a “recency” effect, in which it goes for the last item on a list.
The ability of automatons to mimic human behavior, and the fact that they are built from mathematical first principles, means automatons can be used to formally analyze the fundamental tradeoffs that we face when making choices.
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Psychologists and behavioral economists have established that humans exhibit a number of fairly predictable biases in their decision making. For example, when offered a menu, people generally choose one of the first items on it or the very last item.
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Mathematics dictates that you should take 37% of the time or options you have to simply look and after that, you should commit to the first option that is better than everything you’ve seen so far.
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