What Is the Economic Relevance of Human Indecisiveness?.
When faced with difficult decisions, people often demonstrate a preference for randomization, for the toss of a coin for example. In this video, GEORG H. WEIZSÄCKER explains that economic decision theory struggles to accommodate this phenomenon and he explores its consequences, focusing on the Germa...
| Format: | Video |
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| Language: | English |
| Published: |
[Place of publication not identified] :
Latest Thinking,
[date of publication not identified]
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| Online Access: | Connect to this streaming video (Alexander Street Press) |
| Summary: | When faced with difficult decisions, people often demonstrate a preference for randomization, for the toss of a coin for example. In this video, GEORG H. WEIZSÄCKER explains that economic decision theory struggles to accommodate this phenomenon and he explores its consequences, focusing on the German university application system. Weizsäcker finds that, for significant numbers of applicants, the propensity to avoid decisions regarding their preferred university course has potentially detrimental effects. The research provides important insight not only into the consequences of indecisiveness in the system analyzed but also for decision making more broadly e.g. by consumers, in business organizations and in the medical sphere. |
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| Item Description: | Title from resource description page (viewed August 24, 2020). |
| Physical Description: | 1 online resource (13 minutes) |
| Playing Time: | 00:12:33 |