In a previous post, we considered three of seven "irrational" habits of highly rational people. Here we consider the remaining four, as well as some suggestions for distinguishing the genuinely ...

Through the story of the whale ship Essex, novelist Karen Thompson Walker describes how our most vivid fears are often not the most realistic. In Karen Thompson Walker's 2012 novel The Age of Miracles ...

Rational expectations is a basic economic theory that originated with a paper written in 1972 by future Nobel Prize-winning economist Robert Lucas. The theory of rational expectations has been ...

Key points If someone made perfectly accurate judgments and sound decisions, would we recognize it? The science and philosophy of judgment and decision-making suggests that the answer is often “no.” ...