Breakdown of Will
Prospect theory: Two reasons why we don’t always act rationally.
— Hendrik Schultze (@SchultzeHendrik) October 21, 2021
1. Reference points - The starting point affects the position evaluation
2. Diminishing sensitivity principle - The perceived value may be different from its actual worth
5 motivational states
Pains
Itches
Addictions
Compulsions
Optimal Behavior
"your decision at any time would depend on the state that you were in at that time."
We all have the same will power only sometimes the will is not beneficial to us. Its the will that needs to be changed.
Smaller sooner (SS) sounds like a test, while the larger Later (LL) sounds like college graduation.
SS is a battle, LL is the war.
When kids want to watch TV right away, that is hyperbolic discounting. TV is the new marshmellow.
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