Data Literacy NYU Week 2 Lectures +
Readings
Aristotle on choice - answer Rational choice is an instrument for eudaimonia (living well)
You have desire, apply logic and deliberation, and make a choice
Scientific study of judgement and decision making - answer Very prolific and broad field
application e.g. to corporate, legal, medical
Has produced only a Nobel prize for a psychologist (D. Kahneman)
Dual-process model - answer System 1 (Thinking fast)
System 2 (Thinking slow)
System 1 - answer Unconscious
Automatic
Based on experiences
Heuristic, subject to emotions and stereotypes
Cognitive biases mostly associated with system 1
System 2 - answerConscious
Controlled
Based on consequences
Logical and systematic
Always good to make sure you know ______ as a baseline (opposed to just ratios) -
answerAbsolute number
Error: decision that ... - answer"objectively doesn't make sense"
Cognitive bias - answersystematic deviation from rational/optimal thinking
Educated, intelligent people are sometimes ________ - answerinnumerate
Being data literate means being ... - answeraware of biases and trying to ignore them
Misperceptions of chance - answerMisunderstanding of independence in random events
Probability of compound events P (A and B) = P(A) x P(B); dependent events P(A and
B) = P(A) x P(B|A - b given a)
People expect average pattern of 50/50 to show up in local events not just globally
Readings
Aristotle on choice - answer Rational choice is an instrument for eudaimonia (living well)
You have desire, apply logic and deliberation, and make a choice
Scientific study of judgement and decision making - answer Very prolific and broad field
application e.g. to corporate, legal, medical
Has produced only a Nobel prize for a psychologist (D. Kahneman)
Dual-process model - answer System 1 (Thinking fast)
System 2 (Thinking slow)
System 1 - answer Unconscious
Automatic
Based on experiences
Heuristic, subject to emotions and stereotypes
Cognitive biases mostly associated with system 1
System 2 - answerConscious
Controlled
Based on consequences
Logical and systematic
Always good to make sure you know ______ as a baseline (opposed to just ratios) -
answerAbsolute number
Error: decision that ... - answer"objectively doesn't make sense"
Cognitive bias - answersystematic deviation from rational/optimal thinking
Educated, intelligent people are sometimes ________ - answerinnumerate
Being data literate means being ... - answeraware of biases and trying to ignore them
Misperceptions of chance - answerMisunderstanding of independence in random events
Probability of compound events P (A and B) = P(A) x P(B); dependent events P(A and
B) = P(A) x P(B|A - b given a)
People expect average pattern of 50/50 to show up in local events not just globally
