3(b) Irrational behavior (behavior that is harmful for everybody) (i) &(ii) (Sky & Sze Yuan) by Elizabeth Tang

Irrational Behaviour

e1121737 — 2024-09-08 16:20:23 UTC

Self-inflicted, and harmful for everybody

e1121737 — 2024-09-08 16:22:00 UTC

Irrational Behaviour refers to actions not guided by logic or reason, which often occurs when people cling to deeply held beliefs, resisting change even when the same values are no longer relevant or beneficial

Other factors:

e1121737 — 2024-09-08 16:26:16 UTC

Resultant from external forces or selfishly inflicted for the Good of some

Motivations for Irrationality

e1121737 — 2024-09-08 16:39:18 UTC

Deeply held beliefs
Cognitive biases
Fear of Change

Motivations for their dominance

e1121737 — 2024-09-08 17:25:29 UTC

Nostalgia for Past Successes
Confirmation Bias with State-controlled Media
Fear of Political Instability

Dominance of the People's Action Party

e1121737 — 2024-09-08 17:55:56 UTC

Impacts:

Stifling Political Competition and Innovation: Lack of robust policy debate leaves little room for alternative policies to be seriously considered.
Intergenerational Tension: A survey conducted by the Institute of Policy Studies found that voters aged 21-35 showed a greater desire for more opposition presence. The conflict in priorities can lead to political stalemates and deepen divides within communities.

A CAVEAT

e1121737 — 2024-09-08 18:06:20 UTC

e1121737 — 2024-09-17 18:02:50 UTC

Nostalgia for Past Successes

e1121737 — 2024-09-17 18:07:46 UTC

Deep-seated loyalty due to their role in transforming Singapore from a third to first world nation.

SMU's Centre for Research on Successful Ageing (ROSA) survey results show that older Singaporeans have strong emotional ties to the PAP

Fear of Political Instability

e1121737 — 2024-09-17 18:08:48 UTC

Fear that political opposition could destabilise Singapore.

The Council on Foreign Relations suggests that older Singaporeans worry that changes in governance could lead to instability, affecting Singapore’s economic prosperity and social order.

Confirmation Bias with State-controlled Media

e1121737 — 2024-09-17 18:50:06 UTC

Favouring state media or selectively absorbing information that confirm their beliefs.

According to the IMDA and SMU's ROSA, the older generation tends to prefer traditional forms of media such as Mediacorp's Free-to-Air TV channels and print sources

BALANCE

e1121737 — 2024-09-17 18:58:09 UTC

$5000 SGD Concert Ticket

skywong3206 — 2024-09-17 22:22:59 UTC

Would you still stay to watch this Concert?

Sunk Cost Fallacy

skywong3206 — 2024-09-17 22:32:10 UTC

"People have a greater tendency to use a good or service when they’ve invested money into it" - Richard Thaler (Economist).

Concorde - Supersonic Air Travel

skywong3206 — 2024-09-17 23:28:24 UTC

World’s first scheduled supersonic passenger service, 1976 (British Airways & Air France)
Fast, but with too many complications
Governments continued investing despite projections of impracticality

Joseph Tainter’s Theory of Diminishing Returns

skywong3206 — 2024-09-18 00:41:28 UTC

High initial popularity - Novelty

Increasingly complex to sustain
Returns diminish as complexities increase
- Super-Sonic Air Travel Industry Collapse

That's the end of our presentation.

skywong3206 — 2024-09-18 00:42:17 UTC