POL208Y1 Lecture Notes - Lecture 11: Rationality, Vehicle, Handicap Principle
Document Summary
The framing of policy options affects our choice. Realm of losses already loss, willing to accept greater and greater risks. Realm of gain people doing well" do not tend to make further risks. We are willing to gamble more in the realm of losses; we are risk averse in the realm of gains. Dangerous makers during times of crisis because they are more likely to make a gamble. Example: congress is stuck, employment is not moving in the right direction. Obama more likely to be a gambler in terms of syrian crisis because of current situation. Cannot assume rationality as game theory would lead us to believe. Game theory often portrays a binary picture of decision making over simplistic. Even the cuban missile crisis had 5-6 strategies. How can you access actors preferences to analyze the situation in detail. Explicit sensitivity to the likely perception and calculations of the adversaries.
