The false consensus effect demonstrates an inability of individuals to process information rationally, it suggests that conventional economic analysis of strategic behavior, which assumes unbiased expectation formation, is deficient. A Simple Theory of the...
Even when altruism is allowed (as, for example, in Gary Becker‘s model of rational allocation), it is assumed that the altruistic actions are undertaken because they promote each person’s own interests; there are personal...
“We know – intellectually – that confronting an issue is the only way to resolve it. But any resolution will disrupt the status quo. Given the choice between conflict and change on the...
“Wealth acquired by creating value for society is not equivalent to wealth that comes from economic rents. For example, a very important factor in the increasing inequality of wealth in many countries has been...
Don’t put people, or anything else, on pedestals, not even your children. Avoid global labels such as genius or weirdo. Realize those closest get the benefit of the doubt and so do the most...
