Topic 1: Decision Making / Value Equation Terms Flashcards
Value equation
V = (R * pS) / (Imp * D + 1)
Principle 2.1: Rewards
Humans find feelings of autonomy, belonging and competence rewarding (in addition to meeting basic survival needs).
Principle 2.2: Impact of pS on V
Lack of confidence leads to lack of motivation.
Principle 2.3: Impact of D on V
The further in the future something is, the less we care about it.
Principle 2.4: Impact of procrastination on V
Procrastination happens when what we are supposed to do is not the most valuable to us (at that moment).
Principle 2.5: Impact of habits on V
Habits, for better or worse, shortcut the decision process.
Principle 2.6: How do we address impact of D
Difficult yet achievable short-term goals help with motivation.
Value (V)
Importance we assign to learning
Reward (R)
Something that increases the likelihood of learning
Probability of Success (pS)
Perceived likelihood of getting the reward
Impatience (Imp)
Trait about how quickly we want the reward
Delay (D)
How long before obtain the reward
As ___ increases, Value (V) increases
R, pS
As ___ increases, Value (V) decreases
Imp, D
