Research Fellow Aurelien Baillon on how the choose the right options in life
We are all familiar with the difficulties and doubts that arise when we are faced with major decisions. Research fellow Aurélien Baillon (Erasmus University Rotterdam) has developed a method on making the right choices, which he concisely sets forth in a video of 15 minutes (link below).
Baillon argues that what makes for a good choice is not reliant on the consequences or even the selected action. Rather, to arrive at the right decision, we must analyze and understand the process that leads to that very decision. In his method, Baillon draws on subjective expected utility theory and distinguishes four major principles one should consider to make a good decision: completeness, transitivity, sure-thing and comparative probability.
Aurelien Baillon is Professor of Economics of Uncertainty, in the Behavioral Economics group at the Erasmus School of Economics.
Interested? Good choice! Watch Baillon’s lecture: How can you make good decisions? - YouTube.