I am working with Arina Nikandrova (City? University of London) and Imagine a Imagine aMarcelo Fernandez (Johns Hopkins University) on an article in which we consider the dynamic model of an overconfident information-gathering agent. In this case? overconfidence is an overestimation of the accuracy of the information consumed. ? after a quick? five-minute perusal of a textbook assumes that he understands all of it. He is mistaken.
We ask what the optimal Imagine a
Contract would be for such an agent. In particular? should kenya whatsapp number data 5 million a rational principle — a teacher in the case of a student agent — force the overconfident agent to ‘commit’? that is? to determine in advance how long it will take to collect information before a decision is made. If the agent is rational? it is definitely disadvantageous to do so. For example? if in the process of reading a textbook it turns out that the material is rather difficult? then it benefits of using elearning would be good to study it longer. If the level of self-confidence is high enough? then it is beneficial to make the agent decide in advance when the deadline is. Otherwise? the risk is high that the agent will collect too little information.
Photo courtesy of Tatiana Mayskaya
In general? the phenomenon of overconfidence is very atb directory common and one of the most stable. For example? it is extremely important to study in relation to decision-making in the legal system. A judge hears a case and then delivers a verdict based on information that was ‘understood correctly’. But how does he hear the case?
What is his method of processing information? What happens if he is too self-confident about his own attentiveness and logic?
Society needs to understand how to limit the powers of the judge to improve the decision-making process by increasing the time of the hearing? changing the court scenario itself? etc.
