That human beings can be mistaken in anything they think or do is a proposition known as fallibilism. Stated abstractly like that, it is seldom contradicted. Yet few people have ever seriously believed it, either. That our senses often fail us is a truism; and our self-critical culture has long ago made us familiar with the…Details
Since returning from London where LB and I caught Motown the Musical I have been giving my Motown collection a bit of a going over.
The interview in the post below with Daniel Kahneman got me going back over some old links that looked at the application of his and Amos Tversky’s ideas to trading and the chestnut I keep coming up against is the following question. You have been given a choice between either – a. $100 guaranteed, or b.…Details
Why Do We Believe Stupid Things – David Harding Why Do Smart People Do Foolish Things – Scientific AmericanDetails