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Read - Reading: Behavioral Economics When Psychology and Economics Collide by Scott Huettel (The Great Courses)
Lecture 8: Ambiguity—The Unknown Unknowns
In behavioral economics, “ambiguity” refers to conditions in decision making in which we do not know and cannot estimate the probabilities of potential outcomes. Here, investigate three circumstances in decision making that produce ambiguity: “hidden information,” “asymmetrical knowledge,” and “unfamiliar contexts.” Then, learn a two-step approach for dealing effectively with ambiguity.
Finished lecture 8 on ambiguity
Interesting applications to insurance here and some good reasons why the market and capitalism won’t help fix some problems.

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Watched Knock Down the House (2019) from Netflix
Directed by Rachel Lears. With Alexandria Ocasio-Cortez, Cori Bush, Joe Crowley, Paula Jean Swearengin. A look at the people involved with various political campaigns during the 2018 U.S. congressional election.

Rating: ★★★½

Sonia’s choice tonight. Interesting to see documentary footage of some of these races and how people perceived them at the time.

Read - Want to Read: The Brides of Rollrock Island by Margo Lanagan (Ember)
On remote Rollrock Island, men go to sea to make their livings--and to catch their wives.
The witch Misskaella knows the way of drawing a girl from the heart of a seal, of luring the beauty out of the beast. And for a price a man may buy himself a lovely sea-wife. He may have and hold and keep her. And he will tell himself that he is her master. But from his first look into those wide, questioning, liquid eyes, he will be just as transformed as she. He will be equally ensnared. And the witch will have her true payment.
Margo Lanagan weaves an extraordinary tale of desire, despair, and transformation. With devastatingly beautiful prose, she reveals characters capable of unspeakable cruelty, but also unspoken love.
ᔥ Abby Hargreaves in 5 Excellent YA Books About Selkies ()
Watched WALL·E (2008) from Disney+
Directed by Andrew Stanton. With Ben Burtt, Elissa Knight, Jeff Garlin, Fred Willard. In the distant future, a small waste-collecting robot inadvertently embarks on a space journey that will ultimately decide the fate of mankind.

Rating: ★★★★

Still as poignant–if not moreso–twelve years later. The ships’ computer in relation to the character of H.A.L. in 2001: A Space Odyssey is fascinating with respect to our truth-blind government/administration. 

Read - Reading: Behavioral Economics When Psychology and Economics Collide by Scott Huettel (The Great Courses)
Lecture 7: Risk—The Known Unknowns
Tolerance for risk is another fundamental element of decision making. Learn how behavioral economics evaluates “risk aversion” and “risk seeking” in both economic and personal contexts, and grasp the role of perceived benefits and perceived risks in explaining risk-taking behavior and choices. Finally, study two basic principles for managing risk.
Finished lecture 7 on risk and minimizing regret

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