Abstract
This chapter describes common mental mistakes that people make. It starts showing examples of wrong knowledge in peoples’ heads. Then it examines prospect theory, a Nobel Prize winning collection of human wrong thinking. Finally, it shows a dozen examples of mental mistakes that might be made while creating trade-off studies and risk analyses.
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Notes
- 1.
Kahneman won the Nobel Prize in Economics in 2002 “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty” [10]. Tversky did not share this prize because Nobel prizes are not awarded posthumously.
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Bahill, A.T., Madni, A.M. (2017). Decisions and Mistakes. In: Tradeoff Decisions in System Design. Springer, Cham. https://doi.org/10.1007/978-3-319-43712-5_2
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