design: group discussion qingdao to boston - time (absolute notion - sacrosanct) - degree of arbitrariness (Singapore - geographically class 7) - maldives' capital is malay - mudhdhoo island (have different time zone with malay) - beautiful (sunrise - westernals - 6am is parinful - 7am ) newtoninan time is linear $U_{in} = \beta_1 x_{1in} + \beta_2 x_{2in}$ $P(i|C_n) = e^{U_{in}} / \Sigma_{j \in C_n} e^{U_{in}}$ - persistence of memory (artistic memory - reject time's rigidness) - time point vs. time duration - time as invariant -> ligt speed as the invariant - dali, time dilation, cognitive time, - time vs perceived time - why we have price: manages demand, build infra, collecting fare - pricing: manipulate behavior in certain goals - behavior+externalities (instruments) cogestion (road pricing), space (parking charge), global warming (carbon tax), air pollution (gasoline tax), ownership (license fee) - price is there to change behavioral change - revenue, behav change, public acceptance / - policy instrument involving price: shock system (half of u.s. is on parking) - dollar and perceived dollar (money we collect) - perceived dollar that changes behavior and public acceptance; by changing cash to digital token they are much less responsive - longer the distance, lower the salience Salience is the state or condition of being prominent. (million dollar) objective and perceived (regressive and prgogeressive tax), price in grocery store recylce, flour cafe (1.5$ if you bring mug) (first pay more and refund to motivate) - public transportation (charlie inside - mbta - easy payment) 1. specific payment issue 2. mit community don't need to think about it - cfo vs director of sustainability (lo); translate into political decision (eggs: $3-6 vs oil $4 - gas price get more attention) - london - director of finance (different time, optimal ticket to buy vs to pay) - should only have one product to prevent thinking about (1trip: 10trip:) - time and percived time/dollar/policy (fairness) - objective vs subjective - equity is more important than efficiency (fair: did my brother get icecream) - The concept of the difference between true and perceived state is widely known in system dynamics but I wish to challenge the existence of "true" state. How about starting from the assumption that no true state exists and assign desired and current state for different agents and observe the dynamics? We can define "quasi-true" as where the two agents's belief state converge. And by visualizing the process of initial belief (prior) getting update to the posterior, based on input data stream. Also, could there be a concept of true time, monetary value, and fairness? Also I'm curious why Jinhua chose especially chose the three. Are the three major parameter input for our organization's objective function (well-being for instance)? - cv + 1pg statement and expectation of class (1wk from today)