Mental Model Makeover Challenge
Let's work together to develop better mental models. Enter the challenge below to earn raffle tickets for the grand prize.
Reality is complicated. Mental models simplify it. A “mental model” is a representation used to understand or reason about the world. An example of a mental model is when reserves or rainy-day funds are likened to a savings account. This takes the complicated reality of fund balances and reduces it to a concept that people are familiar with in their personal lives.
Everyone uses mental models. However, those models may not be explicitly recognized. And just like some maps are better for navigating roadways than others, some mental models are better for navigating reality than others.
Public finance professionals often wish their audiences were better informed about public finance. Providing people with better mental models is a shortcut to help them become better informed and make better decisions. The Mental Model Makeover Challenge encourages the GFOA community to work together to develop better mental models.
Read our new report on creating better mental models.
The Divisions You Can Compete in
We’ve offered a description of each division below, but feel free to interpret the description in a way that makes the most sense for your situation. This will help you develop a model that is most useful for your audience.
Property Taxes
Taxpayers often struggle with paying taxes on a non-liquid asset that can't be used to cover the taxes. Additionally, the complexity of the property tax system makes it harder to understand. Provide us with a mental model to better explain the logic of property taxes.
Long-Term Financial Sustainability
People naturally focus on the short-term and overlook the long-term. Provide a mental model to help shift emphasis to the long-term. Define whether your model addresses a specific public finance issue or general long vs. short-term thinking in public finance.
Long-Term Debt
Long-term debt is a powerful tool for investing in infrastructure and distributing costs across generations. However, many people reflexively object to government debt. Provide a mental model to help people understand the value of long-term debt.
The ACFR Open
It can be challenging to explain different aspects of financial reporting to non-experts. Pick any aspect of financial reporting that you think could benefit from a better mental model and tell us what you come up with.
Fund Accounting and the Color of Money
Government funds are often restricted to specific uses, which non-experts may not understand. For example, proprietary fund money can't be used by the general fund. Provide a mental model to help people understand these restrictions.
The Open Division
The Open Division. You tell us the public finance issue you think needs a better mental model and then show us the better mental model for it.
Rules and Challenge Info...
- You can only submit one entry per division (six categories above), but you can compete in as many divisions as you like.
- Each division can have multiple winners. You win by submitting a great idea.
- If your entry is named a winner in a division, you get a virtual raffle ticket to become the Grand Prize Winner. (We'll let you know if you are a winner and we'll track the raffle tickets.)
- You can win a bonus raffle ticket if you have tested your idea with a live audience.
- We'll hold a drawing of all the virtual raffle tickets on March 3, 2025.
- The grand prize winner will receive an all-expenses paid trip to GFOA's 119th Annual Conference, in Washington, D.C., June 29-July 2.
- The use of generative artificial intelligence is completely acceptable.
View official contest rules.
Contest Update
Entries Submitted: 0
Raffle Tickets in Play: 0
As of May 16, 2024